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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