Report of the city of Somerville 1960, Part 5

Author: Somerville (Mass.)
Publication date: 1960
Publisher:
Number of Pages: 356


USA > Massachusetts > Middlesex County > Somerville > Report of the city of Somerville 1960 > Part 5


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75,000.00


Equipment Loan-1957 ..


25,000.00


Elementary School-1953


60,000.00


Outlays


$582,000.00


WATER WORKS


Public Works Department Water Maintenance


Personal Service:


Commissioner


$6,050.00


Clerks


21,984.52


Asst. Superintendent


6,589.63


Meter Readers


34,328.84


$68,952.99


Labor:


140,360.98


Ordinary Maintenance:


Telephone


$488.50


Office Supplies, Postage ..


3,312.66


Towels


12.00


Carfares for Meter Readers


436.80


Hydrants & Fittings


998.58


Pipe & Fittings


34,535.33


Meters & Fittings


156.28


Tools, Equipment & Mtnc.


4,646.45


Truck Mtnc. & Supplies


13,114.04


Replace Mains


19,130.00


Rent Water Main -


B. & M. R. R.


6.00


Telephone Allowance


66.55


$76,903.19


Equipment:


Trucks


$5,578.00


Special Items:


Adding Machine & Type-


writer


330.00


$292,125.16


OTHER ACCOUNTS


County Tax 1960


Middlesex County Tax $500,907.10


$500,907.10


Federal Grant School P. L. 864


School Equip. Misc. $263.05


Office Supplies, Advert. ... 406.82


Carried forward $669.87


Expenses $287,000.00


CITY AUDITOR


85


Expenses


Outlays


Brought forward


$669.87


School Supplies


464.06


Films


1,937.10


Furniture & Furnishings


96.00


Books


768.20


Projector, Tables, Screens,


Recorders


2,500.55


Typewriters, Mimeograph


1,389.09


Educational Guidance - Book, etc.


276.15


$8,101.02


Federal Grant School P. L. 874


School Supplies


$1,003.16


School Equipment Misc.


49.25


Projectors, Tables, Screens, Recorders


2,555.25


Films


2,072.30


Service as Staff Administrator


400.00


Books


618.73


Printing


301.50


$7,000.19


Temporary Loans


Temporary Loans - Antici-


pation Revenue $5,200,000.00


$5,200,000.00


State Taxes & Assessments


Auditing Municipal Accounts State Exam. of Retirement System Met. Parks Loan Serial Bonds


$14,525.36


497.90


9,043.76


Met. Parks Loan Interest


6,664.92


Met. Parks Mtnc. (Including Charles River & Nantasket Met. Sewerage Loan Bonds


128,515.93


127,005.87


Met. Sewerage Loan Interest .. Met. Sewerage Maintenance .. Metropolitan Water Loan


70,897.80


274,751.28


Boston Metropolitan District Expenses


922.58


Metropolitan Transit Authority Deficiency


951,398.18


Metropolitan Transit Authority Reduction of Principal


46,353.72


Smoke Inspection


1,719.49


$1,715,992.56


Sale of Real Estate


Sale of Real Estate $3,000.00


$3,000.00


83,695.77


86


ANNUAL REPORTS


Expenses Outlays


Tailings


Tailings $.50


$.50


County of Middlesex


County of Middlesex Assess. for T. B. Hospital $176,182.12


$176,182.12


County of Middlesex Dog Licenses


Dog Licenses


$4,070.00


$4,070.00


Teachers' Retirement Deductions


Retirement Deductions Paid


to State


$175,248.86


$175,248.86


Payroll Deductions for U. S. Savings Bonds


Bonds to Employees


$17,057.85


Refunds


84.02


$17,141.87


Deposits


City Clerk's Deposits 568.75


Highway Deposits


2,819.70


School Deposits:


Registration, Tuition


653.00


Books


1,744.00


Forfeited Fees


794.95


$6,580.40


Employees Group Insurance


City's Contribution


$7,679.00


$7,679.00


Payroll Deductions for Insurance


Payments to Insurance Co. ...


$1,006.10


$1,006.10


Employees Group Insurance


Employees Contribution to


Ins. Co.


$11,432.50


Refunds


11.00


$11,443.50


Group Insurance Dividend Account


Insurance: ...


$8,966.50


$8,966.50


87


CITY AUDITOR


Federal Tax Withholding


Expenses Outlays


U. S. Government


$89,140.81


U. S. Government (Adj.)


939,294.96 11.80


Refund


$1,028,447.57


State Tax Withholding


State Tax Withholding


$10.54 62,739.09


Refund


1.08


$62,750.71


Blue Cross Deductions


Payments to Blue Cross


$164,773.97


Refunds


231.80


$165,005.77


Health-Bottling Licenses


Bottling Licenses Fee to State


$40.00


$40.00


Cash Refunds


Real Estate:


Taxes:


1960


$58,661.67


1959


119,136.02


1958


74,299.88


Previous Years


149,245.27


Poll:


Taxes:


1960


96.00


1959


32.00


Previous Years


2.00


Personal:


Taxes:


1960


1959


10.63


Previous Years


245.52


Motor Vehicle Excise:


Taxes:


1960


6,421.41


1959


14,531.59


1958


59.50


Previous Years


22.80


Estimated Receipts


189.00


Water


865.01


$423,818.30


$423,818.30


Total


25,403,742.95


181,563.23


Refunds


98,511.48


Total Cash Payments


$25,683,817.66


State Withholding (Adj.)


88


ANNUAL REPORTS


SCHEDULE OF PUBLIC BUILDINGS


School Buildings


Land and Buildings


Personal


Totals


Prescott


$72,200.00


$3,000.00


$75,200.00


Southworth


62,000.00


2,000.00


64,000.00


Hanscom


66,500.00


4,000.00


70,500.00


* Knapp (inc. Dental Clinic) ..


53,000.00


6,900.00


59,900.00


Baxter


39,200.00


2,000.00


41,200.00


Perry


53,600.00


2,500.00


56,100.00


Bell & Southern Jr. High


364,400.00


10,000.00


374,400.00


Pope


257,700.00


15,000.00


272,700.00


Cummings


87,000.00


2,500.00


89,500.00


Vocational


372,800.00


40,000.00


412,800.00


Northeastern Jr. High


618,000.00


20,000.00


638,000.00


iHigh & Gymnasium


1,242,400.00


146,700.00


1,389,100.00


Grimmons


96,800.00


4,000.00


100,800.00


Forster


50,000.00


4,500.00


112,000.00


$Proctor


42,000.00


5,000.00


47,000.00


¡Bingham


77,000.00


5,000.00


82,000.00


Morse


59,000.00


5,000.00


64,000.00


Carr


58,600.00


4,500.00


63,100.00


Durell


24,600.00


1,500.00


26,100.00


Burns


46,000.00


3,000.00


49,000.00


Brown


80,700.00


3,000.00


83,700.00


Herbert Cholerton


68,600.00


5,000.00


73,600.00


Lowe


57,000.00


2,000.00


59,000.00


Hodgkins


121,200.00


5,000.00


126,200.00


§ Western Jr. High


475,000.00


8,000.00


483,000.00


Cutler


144,000.00


10,000.00


154,000.00


Leon Conwell School


243,900.00


15,000.00


258,900.00


Arthur D. Healey


604,800.00


40,000.00


644,800.00


$5,592,000.00


$378,600.00 $5,970,600.00


Miscellaneous Land


Putnam Street


$400.00


$400.00


Spencer Avenue


100.00


100.00


Princeton Street


600.00


600.00


Wilson Avenue


600.00


600.00


North Street


5,400.00


5,400.00


Charles E. Ryan Road


3,900.00


3,900.00


Parking Lot (Day Street)


23,900.00


23,900.00


Parking Lot


(494-498 Broadway)


4,300.00


4,300.00


Parking Lot


Fiske Ave. 11131 Sq. Ft.


2,000.00


2,000.00


Parking Lot


Fiske Ave. 23-23R


12,600.00


12,600.00


Poplar St. Incinerator Land


64,100.00


64,100.00


Lexington Avenue


4,000.00


4,000.00


$121,900.00


....


* Dental Clinic $1,400.00


Land Included in Central Hill Park


Building and Fixtures, Land owned by State


Land Included in Walter Ernest Shaw Ployground


$121,900.00


Forster (Annex)


54,000.00


3,500.00


89


CITY AUDITOR


Libraries


Land and Buildings


Personal


Totals


* Central


$137,000.00


$100,000.00


$237,000.00


East Somerville Branch


25,500.00


2,500.00


28,000.00


West Somerville Branch


42,600.00


10,000.00


52,600.00


$205,100.00


$112,500.00


$317,600.00


* Land Included in Central Hill Park


Miscellaneous Buildings


Public Works Bldg. & Garage


$581,000.00


$81,500.00


$662,500.00


New Police Station


141,500.00


70,000.00


211,500.00


Recreation Center


73,500.00


2,000.00


75,500.00


* City Hall


347,000.00


200,000.00


547,000.00


Power House & Heat, Plant


142,500.00


142,500.00


Sewer Department


28,000.00


100.00


28,100.00


* Land Included in Central Hill Park


Parks


Field House Dilboy Field


$12,000.00


$12,000.00


Trum (Wall, Etc.)


14,000.00


14,000.00


Lincoln


3,000.00


3,000.00


Polling Booths


200.00


200.00


Glen Street Showers


9,000.00


9,000.00


$1,351,700.00


$353,600.00 $1,705,300.00


Fire Buildings


New Fire Alarm Building ...


$27,500.00


$72,000.00


$99,500.00


* Central


48,500.00


39,100.00


87,600.00


Engine Two, Ladder Two ...


44,000.00


41,500.00


85,500.00


Engine Six, Ladder Three ...


43,100.00


18,000.00


61,100.00


Engine Five, Drill Tower ..


30,000.00


10,000.00


40,000.00


Ladder One, Engine Three ..


72,400.00


36,000.00


108,400.00


Ladder Four & Chemical 7 ..


19,500.00


35,900.00


55,400.00


Engine Four


26,300.00


25,000.00


51,300.00


Total


$311,300.00


$277,500.00


$588,800.00


* Included Electrical Department Equipment


90


ANNUAL REPORTS


FORECLOSED PROPERTY 1960


Land and Buildings


Personal


Totals


Perkins Street, Lot 3


$1,000.00


$1,000.00


Perkins Street, Lot 1


1,000.00


...


1,000.00


Perkins Street, Lot 2


1,000.00


1,000.00


Stone Place and 8-10


San-


born Court


2,100.00


2,100.00


(12) Sanborn Court


1,500.00


1,500.00


Ten Hills Road, Lot 33


100.00


100.00


Highland Avenue


100.00


100.00


(82) Myrtle Street


2,300.00


2,300.00


Pearl Street


1,500.00


1,500.00


(93r) Perkins Street


1,300.00


1,300.00


Oak Street, Pt. Lot 7


1,800.00


1,800.00


Mt. Pleasant Court, Lot 28 ..


1,000.00


1,000.00


Mt. Pleasant Court, Lot 27 ...


1,000.00


1,000.00


Mt. Pleasant Court, Lot 26 ...


1,000.00


1,000.00


Mr. Pleasant Court, Lot 33


1,000.00


1,000.00


Perkins Street, Lot 31


1,500.00


1,500.00


(3) Perkins Place, Lot C


500.00


500.00


Mt. Vernon Ave., Lot 49


300.00


300.00


Perkins Street-Strip


200.00


200.00


Washington Avenue, Lot A


400.00


400.00


Washington Avenue, Lot D


100.00


100.00


Washington Avenue, Lot E


100.00


100.00


Hanson Street, Lot 5


1,000.00


1,000.00


Perry Street-Rear Lot


100.00


100.00


(13r) Albion Street


700.00


700.00


Boston Avenue


600.00


600.00


Cedar Street


200.00


200.00


Craigie Street-Rear


100.00


100.00


Elmwood Terrace, Lot 10


400.00


400.00


Elmwood Terrace, Lot 11


400.00


400.00


(2) Flint Street


500.00


500.00


(4) Flint Street


300.00


300.00


(6) Flint Street


300.00


300.00


Flint Street, Pt. Lot 18


300.00


300.00


Franklin Avenue


400.00


400.00


Franklin Avenue


300.00


300.00


Franklin Avenue


300.00


300.00


Franklin Street


500.00


500.00


Fremont Street, Pt. Lot 20


100.00


100.00


Linden Avenue


200.00


200.00


Lowell Street, Pt. Lot 39


100.00


100.00


Medford Street, Pt. Lot 2


600.00


600.00


Florence Street


3,400.00


3,400.00


Rush Street, Pt. Lots 57-58 ..


1,000.00


1,000.00


Washington Avenue


3,400.00


3,400.00


Medford St., Lot 1


2,200.00


2,200.00


Forter Avenue, Lot 7


100.00


100.00


Porter Avenue


100.00


100.00


Porter Avenue, Lot 6


300.00


300.00


Pearl Street


1,500.00


...


1,500.00


$40,200.00


..


$40,200.00


..


91


CITY AUDITOR


VETERANS' SERVICES


Veterans' Cemetery


$17,200.00


$17,200.00


Veterans' Housing Projects &


Old Age


8,024,800.00


1,500.00


8,026,300.00


$8,042,000.00


$1,500.00 $8,043,500.00


Parks & Playgrounds


Robert Houley Playground


$11,000.00


$11,000.00


Sullivan - Hoyt Playground


2,800.00


2,800.00


Central Hill


475,000.00


475,000.00


Lincoln


83,800.00


$4,000.00


87,800.00


Prospect Hill


69,800.00


69,800.00


Tufts


123,000.00


123,000.00


Paul Revere


1,000.00


1,000.00


Trum Playground


84,400.00


84,400.00


Memorial Park


50,300.00


50,300.00


Dilboy Field


135,400.00


135,400.00


John M. Woods Playground


36,600.00


36,600.00


Walter E. Shaw Playground


65,000.00


65,000.00


E. W. Bailey Playground ..


5,100.00


5,100.00


Dickerman Playground


4,400.00


4,400.00


Geo. F. Conway Playground


200,000.00


200,000.00


Albion Street Playground ..


5,700.00


5,700.00


Totals


$1,353,300.00


$4,000.00 $1,357,300.00


Summary


School Buildings ...


$5,592,000.00


$378,600.00


$5,970,600.00


Fire Buildings


311,300.00


277,500.00


588,800.00


Libraries


205,100.00


112,500.00


317,600.00


Misc. Buildings Foreclosed Property


1,351,700.00


353,600.00


1,705,300.00


40,200.00


40,200.00


Veterans


8,042,000.00


1,500.00


8,043,500.00


Misc. Land


121,900.00


121,900.00


Parks & Playgrounds


1,353,300.00


4,000.00


1,357,300.00


Totals


$17,017,500.00


$1,127,700.00


$18,145,200.00


Sewers (Cost)


2,026,813.79


Water Works (Cost) ..


1,919,270.89


Total Value of Public Property


$22,091,284.68


92


ANNUAL REPORTS


REPORT OF THE TREASURER AND COLLECTOR OF TAXES


June 20, 1961


To the Honorable the Mayor and the Board of Aldermen of the City of Somerville


Gentlemen:


In accordance with accounting, financial and statistical data taken from the books and records of the CITY OF SOMERVILLE, I am transmitting herewith a summary of finan- cial information in Exhibits 1 to 11 inclusive, related to Cash, Tax Levies, Temporary and Long-Term Debt and other related matters.


In this 1960 report I now account for the first year of my stewardship of the direction and operation of the Treasury De- partment. I reiterate that these reports should be directed at keeping citizens, taxpayers, business interests and investors in Somerville, financial institutions and city officials aware of Somerville's financial and tax status.


On June 23, 1960 | stated that Somerville needed long- term planning and a sound fiscal program. I suggested central- ized services via a Department of Administration and Finance. Mayor Wells cooperated in 1960 in my initiating new and efficient methods in this Department to the extent of budget funds available. After submitting this Department's 1961 budget, Mayor Wells personally approved and recommended my plans for a Special Study and creation of a Department of Administration and Finance, but these recommendations, which were the products of much research and study, were deleted from the budget by the Board of Aldermen who be- lieved that antiquated methods and procedures now in exist- ence in Somerville give the taxpayers and citizens all that they are entitled to. Cost factors, reductions in personnel and pay- roll, eventual decreases in tax rates and much needed improved services were apparently ignored in slashing these items from the budget.


93


TREASURER AND COLLECTOR OF TAXES


However, in 1960 through savings in budgeted amounts and the use of Ordinary Maintenance funds left available, the following accomplishments were achieved:


(1) Creation of Daily Cash Controls between the Treas- urer's Office and the Auditor's Office, with correspond- ing information sent daily to the Mayor.


(2) Retention of a Public Accountant to analyze and cor- rect some long-existing discrepancies in Cash Balances per the Treasurer's books and the Auditor's books of account.


(3) Installation of new office furniture (partially), adding machines, electric typewriters and check writing equip- ment.


(4) Re-assignment of department personnel in line with new office planning and layout directed at a simplified work-flow, consolidation of payroll section in expanded private area; installation of new intra-office telephone communication system.


(5) Design, installation and use of many new forms to simplify accounting, tax billing and collection pro- cedures.


(6) Appointment of additional Deputy Tax Collectors to expand tax collection enforcement program.


(7) Steps were taken to clean up delinquent tax accounts owed to Somerville for many years as recommended by the Commissioner of Corporations and Taxation of the Commonwealth of Massachusetts by tax title takings, reporting of prior unpaid Motor Vehicle Excise Taxes to the Registry of Motor Vehicles, preparation of peti- tions to the Land Court to foreclose redemption rights on tax title accounts, etc.


(8) Commenced program of compiling data on city-owned Foreclosed Property in anticipation of future sales to increase the City's tax base and to realize additional revenue.


(9) Installed system and program to maintain perpetual control over employees' withholding taxes by placing


94


ANNUAL REPORTS


these "Trust Funds" in specific bank accounts to limit their disposition and to restrict usage as General Funds.


(10) Commenced design and installation of control system over Deputy Tax Collectors re warrants issued, collec- tions, evaluation of performance, and perpetual inven- tory of warrants and amounts in hands of Deputy Collectors at all times.


The foregoing give an indication of what transpired in 1960 in our department in addition to the routine duties and functions, handling of taxpayers' problems, complaints, and even in some cases praises for the fine and devoted services of our employees. Some of these accomplishments fringe on internal control and the area of Administration and Finance without any such specific appropriations being available.


The City of Somerville maintained its fine credit standing throughout the year by sound financial management as evi- denced by (!) a reduction in Funded Debt in the amount of $422,000.00, being the first such reduction in ten years; (2) complete payment of prior year's employees' withholding tax Trust Funds utilized as General Funds in addition to establish- ing the previously mentioned special accounts; (3) generated a sizeable reduction in the City's Free Cash Deficit; and (4) ef- fected substantial decreases in outstanding tax accounts owed to the City by enforcing a firm collection program.


For the sake of being humble and not seeking individual personal credit or praise, I trust that recognition will be given to my long-range objectives in Administration and Finance and at that time the City of Somerville will be fortunate enough to have the services available of a public-minded individual with the ability, experience and farsightedness to perform a com- plete and thorough job, sanctioned and supported by the Chief Executive and the responsible legislators, to create the desired controllership in Somerville's administrative and financial matters.


Respectfully submitted,


ROCCO J. ANTONELLI, City Treasurer and Collector of Taxes


95


TREASURER AND COLLECTOR OF TAXES


TABLE OF CONTENTS


Exhibit


Title


1. Statement of Cash Receipts and Cash Disbursements


2. Schedule of Tax Levies, Assessments and Valuations


3. Temporary Loans in Anticipation of Revenue


4. Schedule of Outstanding Funded Debts


5. Projected Annual Funded Debt and Interest Payments


6. Projected 1961 Funded Debt Payments


7. Projected 1961 Interest Payments


8. Free Cash Balances and Trends


9. Funded Debt Balances and Trends


10. Tax Levies and Collections Real Estate, Personal Property and Poll Taxes


11. Tax Levies and Collections Motor Vehicle Excise Taxes


Exhibit 1 STATEMENT OF CASH RECEIPTS AND CASH DISBURSEMENTS Calendar Year 1960


Revenue Funds


Non-Revenue Funds


Funds


Cash Balance -----


January 1, 1960 .. $ 65,228.06 25,744,687.46


$233,407.66 87,452.62 47,750.00


$ 298,635.72 25,832,140.08 47,750.00


Receipts


Inter-Fund Transfer .


$25,744,687.46


$135,202.62


$25,879,890.08


Total Cash


Available


$25,809,915.52


$368,610.28


$26,178,525.80


Disbursements


$25,609,037.70


$180,593.03


$25,789,630.73


Inter-Fund Transfer .


47,750.00


47,750.00


$25,656,787.70


$180,593.03


$25,837,380.73


Cash Balance


December 31, 1960


$ 153,127.82


$188,017.25


$ 341,145.07


96


ANNUAL REPORTS


Exhibit 2


SCHEDULE OF TAX LEVIES, ASSESSMENTS AND VALUATIONS


The total warrants submitted to the Office of the City Treasurer and Collector of Taxes for billing and collection were as follows:


Real Estate Taxes


Item Valuation


Rate


Land


$ 34,323,100


$91.30 per $1,000


Buildings


90,934,000


$91.30 per $1,000


Sub-Total


$125,257,100


$11,435,973.23


Personal Property Taxes


Valuation $ 8,264,000 @ $91.30 per capita


754,503.20


Poll Taxes


28,837 Taxpayers


@ $ 2.00 per capita


57,674.00


Total Tax Levy


$12,248,150.43


Motor Vehicle Excise Taxes


Commitment Nos. 1 & 2


$ 95,903.66


Commitment No. 3


73,821.36


Commitment No. 4


94,852.71


Commitment No. 5


70,928.30


Commitment Nos. 6 & 7


228,137.81


Commitment No. 8


85,683.23


Commitment Nos. 9 & 10


90,012.47


Commitment No. 11


29,892.65


Commitment No. 12


55,186.64


Commitment No. 13


62,570.81


$886,989.64


Commercial Nos. 1 & 2


11,034.09


Total


898,023.73


Water Liens


45,745.02


Building Code Section 204


1,980.00


1959 Motor Vehicle Excise Tax Commitment in 1960


46,972.26


Total Warrants Committed


$13,240,871.44


Departmental Commitments Other Than Taxes


$1,306,277.22


Water Department Charges


672,118.73


Total Commitments


Other Than Taxes


$1,978,395.95


TREASURER AND COLLECTOR OF TAXES


97


Exhibit 3 TEMPORARY LOANS IN ANTICIPATION OF REVENUE


Balance Forward January 1, 1960


None


Date of Note


Due Date


Discount Rate (%)


Face Amount


January 11th


October 14th


2.59


$


750,000.00


January 27th


November 4th


2.74


750,000.00


February 23rd


October 4th


2.60+$2.00


500,000.00


March 7th


November 14th


2.50


600,000.00


April 1st


October 31st


2.20


500,000.00


April 1 st


October 31st


2.17


500,000.00


April 25th


October 10th


2.20++ $3.00


400,000.00


May 13th


November 23rd


2.02+ $2.00


700,000.00


June 22nd


November 30th


1.57


500,000.00


Total


$5,200,000.00


MUNICIPAL RELIEF LOAN


Temporary Loan Repayments in 1960 ...


5,200,000.00


Balance Forward


$ None


Date of Note


Due Date


Discount Rate %


November 30th


Nov. 30, 1962


2.00


Face Amount $160,000.00


Municipal Relief Loan made under Chapter 329, Acts of 1959, term of two years with $80,000.00 payable November 30, 1961 and 1962. Interest of $1,600.00 payable semi- annually - May 30th and November 30th.


LOANS IN ANTICIPATION OF LOANS


There were no loans in anticipation of loans made during 1960.


..


98


ANNUAL REPORTS


Exhibit 4 SCHEDULE OF OUTSTANDING FUNDED DEBTS As of December 31, 1960


Description of Issue


Interest Rate


Date of Issue


Maturity Date


Amount


Municipal Relief Loan


2.00%


11-30-1960


1962


$160,000.00


Veterans Housing


1.50 %


7- 1-1947


1962


60,000.00


Veterans Housing


1.75%


1- 1-1948


1963


15,000.00


Sewer Loan P.W.A.


3.75%


- 3-1934


1964


4,000.00


Public Works No. 2


1.25%


7- 1-1944


1964


20,000.00


Sewer Loan Chapter 44


2.75%


10- 1-1937


1967


9,000.00


Sewer Loan Chapter 44


2.50%


1- 1-1939


1969


27,000.00


Municipal Garage No. 1


2.00%


10- 1-1952


1972


370,000.00


Municipal Garage No. 2


2.40%


4-


1-1953


1973


65,000.00


Stadium Loan


2.70%


10- 1-1953


1973


95,000.00


Elementary School Loan


2.20%


12- 1-1953


1973


730,000.00


School Loan


2.00%


1- 1-1955


1975


300,000.00


Municipal Off-Street Parking Loan


2.40%


8- 1-1956


1966


180,000.00


Departmental Equipment Loan


2.70%


1- 1-1957


1962


50,000.00


Street Construction and


Permanent Pavement Loan


2.60%


2- 1-1957


1967


140,000.00


Macadam Pavement and Sidewalks Loan


2.60%


2- 1-1957


1962


40,000.00


Funding Loan


2.70%


4- 1-1957


1967


630,000.00


Water Meter Loan


2.20%


4- 1-1958


1968


95,000.00


Incinerator Loan No. 1


3.40%


10- 1-1958


1978


220,000.00


Incinerator Loan No. 2


3.10%


3- 1-1959


1979


1,090,000.00


Total


$4,300,000.00


Exhibit 7 PROJECTED 1961 INTEREST PAYMENTS


Description of Issue


January


February


March


April


May


June


July


August


September


October


November


December


Total


Veterans Housing-1947


$ 450


$ 900


Veterans Housing-1948


131


87


218


Sewer Loan P.W.A .- 1934


75


75


150


Public Works-8ldg. No. 2-1954


125


125


250


Sewer Loan-Chap. 44-1939


338


300


638


School Loan-1955


3,000


2,800


5,800


Departmental Equipment-1957


338


1,013


Municipal Off-St. Parking-1956


$2,160


4,320


Street Construction-Permanent Pavement-1957


1,820


1,560


3,380


Macadam Pavement and Sidewalk- 1957


520


260


780


Incinerator Loan No. 2


$16,895


$15,965


32,860


Sewer Loan-1937


$ 124


$ 124


248


Municipal Garage No. 2-1953


780


720


1,500


Municipal Garage No. 1-1952


3,700


3,700


7,400


Stadium Loan-1953


1,282


1,282


2,564


Funding Loan-1957


8,505


7,290


15,795


Water Meter Loan-1958


1,045


880


1,925


Incinerator Loan No. 1-1958


3,740


3,740


7,480


Municipal Relief-1960


$1,600


$1,600


3,200


Elementary School Loan-1953


...


$8,030


$8,030


16,060


TOTALS


$4,794


$4,500


$16,895


$19,176


$1,600


$8,030


$4,175


$3,980


$15,965


$17,736


$1,600


$8,030


$106,481


$ 450


675


$2,160


Exhibit 6 PROJECTED 1961 FUNDED DEBT PAYMENTS


Description of Issue


January


February


March


April


May


June


July $30,000


August


September


October


November


December


Total $30,000


Veterans Housing-1948


$5,000


5,000


Public Works-Bldg. No. 2-1954 ..


1,000


Sewer Loan Chap. 44-1939


3,000


3,000


Departmental Equipment-1957


20,000


Municipal Off-St. Parking-1956


25,000


Street Construction & Permanent Paving-1957


$20,000


Macadam Pavement and Sidewalk- 1957


20,000


Incinerator Loan No. 2-1959


20,000


Sewer Loan-1937


60,000


Municipal Garage No. 2-1953


$5,000


$2,000


2,000


Municipal Garage No. 1-1952


5,000


Stadium Loan-1953


10,000


10,000


Water Meter Loan-1958


90,000


Incinerator Loan No .- 1958


15,000


Municipal Relief Loan-1960


15,000


Elementary School Loan-1953


80,000


...


$60,000


60,000


TOTALS


$53,000


$40,000


$60,000


$110,000


$36,000


$30,000


$62,000


$80,000


$60,000


$531,000


.....


Sewer Loan P.W.A .- 1934


1,000


5,000


5,000


School Loan-1955


20,000


25,000


$30,000


30,000


20,000


$60,000


35,000


35,000


Funding Loan-1957


90,000


15,000


15,000


$80,000


Veterans Housing-1947


1 1


99


TREASURER AND COLLECTOR OF TAXES


Exhibit 5 PROJECTED ANNUAL FUNDED DEBT AND INTEREST PAYMENTS


Year


Principal


Interest


Total


1961


$80,000.00


$3,200.00


$83,200.00


1961


451,000.00


103,281.25


554,281.25


1962


531,000.00


93,738.75


624,738.75


1963


370,000.00


81,593.75


451,593.75


1964


355,000.00


72,322.50


427,322.50


1965


349,000.00


63,260.00


412,260.00


1966


349,000.00


54,297.50


403,297.50


1967


314,000.00


45,335.00


359,335.00


1968


203,000.00


38,702.50


241,702.50


1969


188,000.00


33,682.50


221,682.50


1970


180,000.00


29,057.50


209,057.50


1971


180,000.00


24,547.50


204,547.50


1972


180,000.00


20,037.50


200,037.50


1973


150,000.00


15,527.50


165,527.50


1974


85,000.00


11,677.50


96,677.50


1975


85,000.00


9,232.50


94,232.50


1976


65,000.00


6,987.50


71,987.50


1977


65,000.00


4,942.50


69,942.50


1978


65,000.00


2,897.50


67,897.50


1979


55,000.00


852.50


55,852.50


TOTALS


$4,300,000.00


$715,173.75


$5,015,173.75


100


ANNUAL REPORTS


Exhibit 8


CITY OF SOMERVILLE - ANNUAL REPORT - 1960 FREE CASH BALANCES AND TRENDS BI-ENNIALLY FOR PAST DECADE


SURPLUS OR DEFICIT DOLLARS


600,000


500,000


--


DEFICIT


400,000


300,000


200,000


1


100,000


I


1


1


0


1951


1


1953


1955 \


1957/


1959 1960


D


E


C


E


M


B


E


R


3 1 st


100,000


200,000


SURPLUS


101


TREASURER AND COLLECTOR OF TAXES


Exhibit 9


Total Funded Debt in Dollars


5,000,000


4,500,000


4,000,000


3,500,000


3,000,000


CITY OF SOMERVILLE


FUNDED DEBT BALANCES AND TRENDS


2,500,000


AT YEAR END


FOR PAST DECADE


2,000,00


1,500,000


1,000,000


500,000


D


E


C


E


M


B


E


R


3 1 st


1


1


1


1


1


1


1


1


1


1


9


9


9


9


9


9


9


9


9


9


5


5


5


5


5


5


5


5


5


6


1


2


3


4


5


6


7


8


9


0


ANNUAL REPORT - 1960


102


ANNUAL REPORTS


Exhibit 10 TAX LEVIES AND COLLECTIONS REAL ESTATE, PERSONAL PROPERTY AND POLL TAXES


This Year's Levy Uncollected


All Years to Date Uncollected




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