USA > Massachusetts > Middlesex County > Wakefield > Town annual report of the officers of Wakefield Massachusetts : including the vital statistics for the year 1920 > Part 7
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Brought forward $1,090,080.65
Refund Water Department, A. R. Perkins, insurance.
32.19
66 66 B. & M. R. R. on coal 2.90
66 66 Water Maintenance Account ...
11.00
Town of Framingham
66
Water Construction Account .. . . 200.00
Water and Sewer Departments, Insurance policy.
C. F. Hartshorne & Son.
24.40
Woodville School Building Committee, Insurance. C. F. Hartshorne & Son
110.08
Sale of land, Cora E. Mildram, held under Tax Title Deeds ..
162.49
Sale of Salem Street Construction note.
6,000.00
Sale of Extension of Water Mains notes.
11,000.00
Sale of Extension of Sewer notes.
5,200.00
Accrued interest on above notes.
111.00
School Department, receipts .
2,677.60
Commonwealth of Mass., Americanization work.
389.26
Commonwealth of Mass., tuition of children
577.50
Commonwealth of Mass., vocational education.
997.11
Sealer of Weights and Measures, receipts.
111.00
Selectmen, receipts-Awning licenses.
7.00
Auctioneers licenses.
6.00
Auto bus license.
1.00
Bowling and Pool licenses.
25.00
Circus license .
26.00
Elevator operators license
1.00
Insurance forms
6.95
Junk licenses.
350.00
Motor Vehicle licenses.
175.00
Peddlers' licenses .
35.00
Sale of dwelling house
101.00
Wakefield Estate
Sale of hay, Wakefield Estate
20.00
Sale of Woodville School.
253.00
Second hand furniture licenses.
15.00
Sewer Department, receipts.
5,054.27
Teachers' Retirement Fund Assessments .
3,991.00
Town Hall, receipts.
685.00
Trust Funds, receipts.
1,115.69
Wakefield Trust Co., three-fourths of the income from the Junius Beebe Trust for the Beebe Town Library.
770.09
Carried Forward
$1,130,325.18
REPORT OF TOWN TREASURER
IOI
In Account with the Town of Wakefield, Cr.
Brought forward $1,192,367.87
Carried forward
1,192,367.87
C
I02
TOWN OF WAKEFIELD
Dr.
Arthur H. Boardman, Treasurer
Brought forward $1,130,325.18
Wakefield Trust Co., Interest on Collector's Balance .. .
401.24
Wakefield Trust Co., interest on Treasurer's Balance. 626.67
Water Department, receipts.
60,756.48
Water Department, rents.
258.30
$1,192,367.87
REPORT OF TOWN TREASURER
103
In Account with the Town of Wakefield, Cr.
Brought forward $1,192,367.87
$1,192.367.87
104
TOWN OF WAKEFIELD
FINAL STATEMENT
During the year 1921, the following time loans will fall due and are to be included in the tax levy of 1921.
High School site. $2,500.00
Junction School 1,500.00
Montrose School 1,500.00
Woodville School.
4,000.00
Macadam Construction of Salem Street . 6,000.00
Metropolitan Sewer
6,000.00
Extension of Sewer
3,200.00
Water Meters (included in Water Dept. Appro.) ... 3,000.00
Main Street water main (included in Water Dept. appropriation)
1,000.00
Water Loan, (included in Water Dept. appropriation)
8,000.00
Extension Water Mains (included in Water Dept. appropriation)
3,000.00
$15,000.00
Light Plant (included in Light Plant appropriation) $9,000.00
$9,000.00
$48,700.00
There will also be required the following amounts to meet our interest pay- ments:
High School Site
$250.00
Junction School 52.50
Montrose School 922.50
Woodville School.
2,745.00
Macadam Construction of Salem Street.
360.00
Metropolitan Sewer.
6,055.00
Extension of Sewer
312.00
Temporary Loans (estimated)
13,003.00
$23,700.00
$258.75
Water Meters, (included in Water Dept. (appro.) Main Street Water Main, (included in Water Dept. appro.) 22.50
Water Loan, (included in Water Dept. appro.) ..
5,560.00
Extension Water Mains, (included in Water Dept appro.). 660.00
$6,501.25
Light Plant (included in Light Plant appro.) . $1,440.00
$1,440.00
$31,641.25
$24,700.00
REPORT OF TOWN TREASURER
105
The borrowing capacity of the town, on temporary notes in anticipation of 1920 revenue, was $395,369.54, as determined by the State Director of Ac- counts. Of this amount, we were only obliged to borrow the sum of $340,000.00 and of this latter amount $200,000.00 has been paid, leaving $140,000.00 to be paid in 1921.
1
Respectfully submitted,
ARTHUR H. BOARDMAN,
Treasurer.
1
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1
Report of Municipal Light Board
Wakefield, Mass., Jan. 25, 1921.
To the Citizens of Wakefield:
We submit herewith the twenty-seventh annual report of the Municipal Light Department, which is for the year ended December 31st, 1920. The re- port consists of a complete financial statement, our comments on the business, some of the physical data regarding the plant and in an appendix transcripts from our several cash accounts.
The financial statement, which immediately follows, consists of the two opera- ting accounts, the profit and loss account and the balance sheet. It is in the form in which we are required to report to the Department of Public Utilities as of the same date.
OPERATING ACCOUNT-GAS
Expenses
Gas Coal.
$31,733.50
Steam coal .
212.30
Enrichers, oil.
14,098.32
Purifying materials
393.19
Water ..
17.10
Wages at works.
25,078.23
Works tools etc.
911.65
Repairs, structures and holders.
2,112.13
Repairs, machinery and equipment
2,340.77
Repairs, steam plant.
291.93
Gas bought.
4,444.24
Meter takers. .
1,197.48
Distribution tools, etc.
164.70
Stable.
983.88
Garage.
1,919.70
Care of gas meters.
1,621.70
Repairs, mains and services.
6,466.92
Repairs, gas meters. .
913.40
Salaries, municipal light board .
150.00
Salary of manager
1,226.60
General salaries
2,256.41
Office expense.
3,189.39
State assessment.
43.52
Insurance
372.70
REPORT OF MUNICIPAL LIGHT BOARD
107
Law expense.
10.00
Claims.
107.14
Oil, waste and packing
154.43
$102,411.33
1
Income
Coke
$2,137.26
Tar ..
2,001.96
Regular gas.
56,667.07
Prepaid gas.
28,994.27
Municipal gas.
427.71
$90,228.27
Balance to debit of profit and loss
$12,183.06
$102,411.33
OPERATING ACCOUNT-ELECTRIC
Expenses
Water.
$17.10
Wages at station
3,774.20
Station tools etc.
433.90
Repairs of buildings
5.72
Current bought.
32,550.82
Meter takers.
1,197.49
Care of electric meters
199.43
Distribution tools, etc.
82.26
Stable.
983,88
Garage.
1,919.69
Repairs, street lights.
806.79
Repairs, lines and conduits .
7,816.45
Repairs, meters and transformers
114.37
Salaries, municipal light board.
150.00
Salary of manager
1,226.60
General salaries.
2,256.41
Office expense.
3,189.38
State assessment
43.51
Insurance
372.70
Balance to credit of profit and loss.
$57,140.70 $19,157.59
$76,298.29
108
TOWN OF WAKEFIELD
Income
Commercial light ..
$50,025.15
Power.
15,061.37
Municipal light .
1,631.77
Street lights
9,580.00
$76,298.29
PROFIT AND LOSS
Debtor
To balance of December 31, 1919.
$56,826.60
Sundries.
1,777.24
Depreciation, machinery and equipment
1,500.00
Depreciation, mains.
1,300.00
Depreciation, gas meters
600.00
Depreciation, steam plant.
300.00
Depreciation, electric plant
300.00
Depreciation, overhead lines
1,750.00
Depreciation, transformers.
350.00
Depreciation, electric meters
350.00
Depreciation, street lights
48.72
Loans repayment
10,000.00
Bad bills .
5.00
Operation fund, refund.
1.78
Interest
1,363.33
Interest accrued.
360.00
Loss in stock .
2,846.52
Balance of operation fund, to Town.
1.17
Balance of operating account, gas.
12,183.06
$91,863.42
PROFIT AND LOSS
Creditor
By Overpayments .
$1.12
Appropriation.
11,420.00
Correcting entry
2,328.28
Sundries.
10.00
Overage in cash .
10.00
Interest on deposits.
10.95
Profit in jobbing, gas.
1,260.11
Profit in jobbing ,electric.
121.52
Balance of operating account, electric.
19,157.59
By balance of Dec. 31, 1920
$34,319.57 $57,543.85
$91,863.42
109
REPORT OF MUNICIPAL LIGHT BOARD
BALANCE SHEET
Assets
Buildings, gas.
$9,173.16
· Machinery and equipment.
30,344.54
Mains.
46,372.54
Services.
4,999.88
Meters, gas.
18,206.37
Buildings, electric
5,654.26
Steam plant
7,462.66
Electric plant
8,593.35
Lines .
51,434.34
Transformers .
12,074.73
Meters, electric .
13,880.98
Street lights.
1,942.45
Deposit fund.
3,164.00
Operation fund.
0.00
Construction fund.
25,000.00
Depreciation fund.
0.00
Accounts receivable, gas ..
5,859.46
Accounts receivable, electric .
7,744.41
Accounts receivable, sundry
2,768.64
Gas coal
997.00
Coke
937.50
Tar.
300.00
Enrichers.
1,667.25
Purifying materials
500.00
Jobbing, gas
1,690.12
Works tools.
464.20
Distribution tools, gas
434.90
Stock .
2,729.58
Station tools.
176.00
Distribution tools, electric.
188.65
Jobbing, electric.
531.84
Stable and garage equipment
4,628.00
Office furniture etc .
2,044.19
Oil, waste and packing
3.60
Balance of Dec. 31, 1920
$271,968.60 57,543.85
$329,512.45
IIO
TOWN OF WAKEFIELD
Liabilities
Appropriations for construction
$71,632.86
Bonds.
36,000.00
Accounts payable, construction.
1,619.13
Accounts payable, operation
19,436.46
Deposits .
3,164.00
Interest accrued.
360.00
Loans repayment. 1
$132,212.45 197,300.00
$329,512.45
The new ledger, disbursements book, journal and cash book are now running about as they should and we believe that they will give us the necessary finan- cial data in a simple and straight-forward manner with the least possible amount of work. During the year, we have installed a new consumers ledger consisting of a card for each consumer and a set of binders for the cards. These replace the consumers ledgers that were in use and which consisted of large and cum- bersome bound books. With the card ledger, we have also installed a book keeping machine by which one person is making out all of the bills and bill stubs, the consumers ledger cards and tally sheets and is posting all of the cash, discounts and bills receivable. This machine has been in operation since early in Decem- ber and we are satisfied that it is well worth the money it cost.
The cost of gas in the holder, during 1920, was $1.27+ per thousand cubic feet. This cost includes the cost of coal, enrichers, purifying materials, water, wages at works, works tools, repairs of structures and holders, repairs of ma- chinery and equipment, repairs of steam plant, interest, depreciation and debt retirement.
The total cost of gas delivered to the consumers was $2.17+ per thousand cubic feet. This cost includes all of the operating, distributing and management costs together with interest, depreciation and debt retirement. It has been a bad year for gas making because of the high prices of coal and oil for enriching and because the quality of these has been very low at times. The oil has been .
so bad as to put the water gas set out of commission several times. With the new set, we shall not only obtain a higher efficiency but we shall also have spare equipment in times of trouble.
The prices charged our regular consumers were $1.70 gross, $1.60 net from January 1st to June 15th; $2.00 gross, $1.80 net from June 15th to December 1st; and $2.40 gross, $2.20 net after December 1st. The prices charged our prepayment consumers were $1.60 from January 1st to June 15th and $2.20 after June 15th. The early charges did not cover the cost and the result, as shown by the gas operating account, was an operating loss of $10,953.78 to say nothing of the interest, depreciation and debt retirement charges. We shall, therefore, be obliged to continue the later charges until we can reduce the cost of the gas delivered to the consumers but we believe that this can be done.
III
REPORT OF MUNICIPAL LIGHT BOARD
Gas could be purchased from the Malden & Melrose Gas Light Co. and a letter from them, addressed to Mr. George A. Cowdrey under date of Decem- ber 4th, 1920, quotes their price for the same delivered at our works. The price quoted is based upon the cost of gas in the Malden holder and it is stated that said price would have been $1.277 per thousand cubic feet during September and $1.225 during the four months ended October 31st. The price would become a part of our cost of gas in the holder. If we could sell our buildings, machinery and equipment for an amount which would enable us to write these items off of our books and retire the corresponding indebtedness, we should have no debt retirement obligation, interest charge or repairs (except for the holders) which would have to be added to this price but we should have a charge for attendance and for heat during the winter months. These would not be large but they would certainly be large enough to make our cost of gas in the holder, even based on the lower price quoted, greater than the present cost.
During the year, additions were made to both distributing systems that is, to the mains, services, gas meters, lines, transformers, electric meters and street lights. The total value thus added amounted to $16,359.39 and came form the following sources.
From the balance of the construction fund on hand Dec. 31, 1919 less accounts payable of the same date .. $242.80
From appropriation from tax levy . 4,000.00
From transfers from the depreciation fund. . 6,596.37
From stock paid for out of the operation fund. 3,901.09
From accounts payable, Dec. 31, 1920
1,619.13
$16,359.39
During 1921, similar additions will be required. Additional consumers are continually applying for service and we are in duty bound to supply them. This means that we must continually extend our gas mains and electric lines, and install additional services, gas meters, transformers and electric meters.
We estimate that, during the year, we should also install about fifty additional street lights and we believe that these should be installed where we think they will best serve the interests of the Town as a whole rather than where and as they may be called for by local parties. The existing street lighting circuits should be rearranged so that they will all be switched on and off and metered at the station.
We request an appropriation of $20,000.00 for construction, the same to. be obtained from town bonds payable $1,000.00 annually.
As to an appropriation from the tax levy for street lights and other expenses, we estimate that our requirements will be as follows:
$110,000.00 for gas operating expenses
57,000.00 for electric operating expenses :
4,000.00 for interest 7,000.00 for depreciation
10,500.00 for debt retirement
$188,500.00 total
II2
TOWN OF WAKEFIELD
$100,000.00 income from gas consumers 70,000.00 income from electric consumers
$170,000.00 total
$18,500.00 required from tax levy
Comparing this with previous years, we would call your attention to the fact that the appropriations from the tax levy in 1919 were
$28,000.00 for maintenance 600.00 for construction
$28,600.00 total The appropriations from the tax levy in 1920 were $21,000. 00 for maintenance 4,000.00 for construction
$25,000.00 total
And we ask from the tax levy for 1921
$18,500.00 for maintenance 0.00 for construction
$18,500.00 total
-
The question as to whether or not the plant should be sold has been dis- cussed and has been placed before the voters in special town meeting. At that meeting, it was decided not to sell the plant but to install a new water gas set. Your commissioners are of the opinion, therefore, that the voters desire to give municipal ownership another try out and, with that idea in view, they will endeavor to learn during the present year 'what can be accomplished and what can not.
We have retained Mr. Whiting's services to a considerable extent during the year because it has been both advisable and necessary to do so. What he has to say regarding the Department may be of interest to some, so we append a letter from him dated January 25th, 1921.
Respectfully submitted,
JOHN M. CAMERON, MARCUS BEEBE, SAMUEL H. BROOKS,
Municipal Light Board.
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EDWIN C. MILLER Died January 26, 1920 Electric Light Commissioner, 1909-1920
II3
REPORT OF MUNICIPAL LIGHT BOARD
PHYSICAL DATA
As of December 31st
1918
1919
1920
Feet of mains
208,318
211,926
213,057
Gas meters
2,597
2,690
2,863
Gas consumers
2,538
2,638
2,780
Cu. ft. coal gas made
35,776,000
37,657,000
37,058,100
Cu. ft. water gas made
20,240.000
18,460,000
22,792,900
Cu. ft. gas bought
0
0
3,423,800
Cu. ft. gas total
.56,016,000
56,117,000
63,274,800
Cu. ft. gas sold
43,379,000
43,524,800
48,732,900
Feet of wire
794,453
809,543
889,342
Electric meters
1,323
1,433
1,621
Electric consumers
1,235
1,394
1,591
Street lights
609
613
760
K. W. Hrs. purchased
925,345
849,792
962,481
K. W. Hrs. sold for light
262,934
307,773
381,674
K. W. Hrs. sold for power
413,056
248,948
424,610
K. W. Hrs. used for street lights
79,904
120,985
110,515
Hours operated, square lights
2,326
3,687
3,955
Hours operated, other street lights
1,813
3,105
3,287
APPENDIX
Because of its different characteristics, the cash we handle is kept in three cash accounts called operation fund, depreciation fund and construction fund. Transcripts from these are given below.
OPERATION FUND
Debtor
To balance of Dec. 31, 1919
$73.92
Appropriation for maintenance.
11,420.00
Appropriation for street lights
9,580.00
Gas receipts.
82,881.47
Electric receipts.
64,500.27
Sundry receipts .
8,862.29
Transfer from construction fund.
2,437.14
$179,755.09
Creditor
By debt retired ..
$10,000.00
Interest on debt.
1,820.00
Transfer to depreciation fund.
6,498.72
II4
TOWN OF WAKEFIELD
Operating expenditures.
161,435.20
Cash returned to town
1.17
Balance of Dec. 31, 1920.
0.00
$179,755.09
DEPRECIATION FUND
Debtor
To balance of Dec. 31, 1919.
$0.00
Transfer from operation fund
6,498.72
Scrap sales .
112.45
$6,611.17
Creditor
By transfer to construction fund.
$6,596.37
Renewals of lines.
14.80
Balance of Dec. 31, 1920.
0.00
$6,611.17
CONSTRUCTION FUND
Debtor
To balance of Dec. 31, 1919.
$269.80
Appropriations for construction
29,000.00
Transfers from depreciation fund.
6,596.37
Plant sales.
1,218.98
$37,085.15
Creditor
· By accounts payable, Dec. 31, 1919.
$27.00
Additions to mains
478.79
Additions to services. .
1,290.27
Additions to gas meters .
1,594.88
Additions to lines.
3,325.81
Additions to transformers
1,334.61
Additions to electric meters.
1,438.56
Additions to street lights .
158.09
Transfers to operation fund for stock.
2,437.14
Balance of Dec. 31, 1920.
25,000.00
$37,085.15
II5
REPORT OF MUNICIPAL LIGHT BOARD
REPORT OF CONSULTING ENGINEER
Boston, Mass., Jan. 25, 1921.
Municipal Light Board, Wakefield, Mass.
Gentlemen :-
As you are obliged to prepare a Return to the Department of Public Utilities for the year ended December 31st, 1920 and report to the Town as of the same date, I beg to submit the following.
The financial statement, which I am handing to you herewith, is in the form prescribed by the Department of Public Utilities, is in a proper form to use in reporting to the Town and is in the same form as was used a year ago. Fur- thermore, it is a direct copy from your general ledger, without any computations or alterations.
As I said last year, the statement consists of operating account, gas; opera- ting account, electric; profit and loss account, and balance sheet. It is a com- plete financial statement of what the Department accomplished during the year and how it stood at the end of the year. The operating accounts show the operating expenses and incomes and the balances between these, which balances are carried to profit and loss. The latter shows the non-operating expenses, such as interest, depreciation, etc., and the non-operating incomes. The balance of profit and loss is carried forward from year to year and represents the surplus or deficit as the case may be. The balance sheet shows the book values of the assets and liabilities at the end of the year. The difference between these also represents the surplus or deficit and agrees with the profit and loss balance.
The statement shows several things of interest and I beg to call your atten- tion to some of these.
The deficit at the beginning of the year, amounted to $56,826.60 and, at the end of the year, it amounted to $57,543.85. In other words, the deficit was increased during the year by, $717.25 which means that a net overall loss of that amount was made.
The debit side of profit and loss shows a loss in the stock account amounting to $2,846.52. This is the result of a more careful and conservative valuation of the inventory of December 31, 1920 than was made December 31st, 1919. It represents a loss but one which is attributable to the past rather than to the year 1920.
The debit side of profit and loss also shows a loss of $1,777.24 on account of sundries. Of this amount $1,727.24 is a correcting entry. As of Decem- ber 31st, 1919 there was a balance on hand in the operation fund of $1,727.24 and, because of a town by-law, the town authorities claimed that it should re- vert to the Town. In paying it over to the town and writing it off of the books of the Department, I debited it to appropriations for construction. Since it was a return of money to the town I thought it might reasonably be treated as
II6
TOWN OF WAKEFIELD
a reduction of the amount appropriated by the town for construction. The Department of Public Utilities would not allow that treatment however and, to correct the entry, it was debited to profit and loss in 1920. Of course it was not a loss but this treatment makes it appear as such and the plant gets no credit for it, either on its books or in the minds of the voters.
Again, the debit side of profit and loss shows a loss of $10,000.00 which is the amount of bonds and notes retired during the year. This is also because of a ruling of the Department of Public Utilities. Whenever debt is retied, it is, of course, credited to cash and debited to the liability account bonds or notes, as the case may be. At the same time, however, a parallel entry must be made crediting a liability account called loans repayment and debiting profit and loss. This must be thoroughly understood if you wish to learn the true standing of the business from the accounts that are kept.
By referring to the balance sheet, you will observe that the deficit of $57,543.85, previously mentioned, is the difference between the so-called liabilities of .
$329,512.45
and the assets amounting to. 271,968.60
that is.
$57,543.85
The liabilities consist of
Appropriations for construction
$71,632.86
Bonds outstanding.
36,000.00
Accounts payable.
21,055.59
Consumers deposits.
3,164.00
Interest accrued but not due.
360.00
Loans repayment.
197,300.00
Total .
$329,512.45
Of the appropriations for construction, $25,000.00 was appropriated at the recent town meeting and will eventually be transferred to bonds. The remain- ing $46,632.86 is supposed to have been appropriated from the tax levy for construction purposes and to have been over and above the, necessary appro- · priations from the tax levy for expenses. Whether it was or not I cannot say without searching the accounts from the time the business was started; but I doubt it very much. I should like to make that search but, for the present, the figure will have to stand. The bonds outstanding, accounts payable, deposits, and interest accrued are proper and legitimate liabilities. The re- maining item, loans repayment, is not a liability, either as regards the depart- ment, or as regards the town. It does not represent anything that anyone owes to anyone else. It simply represents the bonds and notes that have been re- tired. Therefore, if we accept the $46,632.86 as representing the true approp- riations for construction the standing of the department, December 31st, 1920, was as follows:
1
II7
REPORT OF MUNICIPAL LIGHT BOARD
So far as the Department is concerned
Assets.
$271,968.60
Liabilities
132,212.45
Surplus
$139,756.15
So far as the Town is concerned
Assets.
$271,968.60
Liabilities
85,579.59
Surplus
$186,389.51
As to the correctness of the assets, I would say that the cash and inventory values (such as coal, coke, tar, enrichers and other materials and tools) are reasonably correct. The accounts receivable may contain some uncollectible accounts but not to any considerable amount. To check - the values in the plant accounts (such as buildings, machinery, mains, lines, transformers, meters etc.) would require an appraisal and that has not been authorized. It is probable that the values are substantially correct, however, because they have been written down each year by the depreciation provided by law. That was 5% per annum of the cost of the plant, up to and including 1905, and 3% thereafter.
There has been some talk about the excessive "leakage" of gas but the talk has not been based upon a knowledge of the facts. The gas manufactured and metered at the works shows one amount whereas the gas delivered and metered on the consumers premises shows a smaller amount and the difference between these two amounts has been called "leakage." It is not all leakage, however, and for the following reasons. The average temperature of the gas at the works is higher than the average temperature at the consumers premises. It is cooled by being passed through the mains and services underground and that cooling causes a contraction in volume. In other words, the cubic feet of gas delivered to the consumers is less than the cubic feet of gas put out by the works because of the cooling that takes place and irrespective of any leakage. Furthermore, the gas leaving the works contains certain elements in the gaseous state, which are condensed to a liquid state during the passage through the pipes; and the volume of gas is thereby reduced, irrespective of any leakage. These two conditions are not peculiar to Wakefield. They exist in all gas plants. Their effect varies from time to time and, if complete records are kept, the result- ing contraction in volume can be calculated and subtracted from the apparent leakage to ascertain the actual leakage.
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