THURSDAY, AUGUST 31, 1333
THE FRANKLIN PRESS and THE HIGHLANDS MACON IAN
PAGE THREE
4
HE PORT ON AUDIT
Fiscal Year Ended June 30. 1933 ,
lACON COUNTY
North Carolina
Charlotte, N. C,
July 31, 1933.
Board of Commissioners,
Macon County,
Franklin, N. C.
Gentlemen: J
Pursuant to engagement, we
have audited the accounts of Ma
con County, North Carolina, for
the fiscal year ended June 30,
1933, and beg to submit herewith
our report thereon, consisting of
the following Exhibits, which, in
our opinion, reflect the true .fi
nancial position of the County as
of June 30, 1933, and the result
of its operations for the year end
ed that date :
1. FINANCIAL POSITION
Exhibit I, presents a detail
analysis of the financial position
of the County, including all school
"funds. A-brief -condensation sum
marized from this exhibit would
appear as follows:
Total Assets .......... . .$252,992.93
Total Deferred Charges... 10,599,38
New
1933,
bank to
County
$263,592.31
Total Liabilities and
Operating Reserves .....$106,974.90
Combined Surplus
Accounts 156,617.41
$263,592.31
A further summary of the sur
plus accounts reflects the following I
General County $ 9,153.64
Special County 703.97
General Debt Service.. .. 20,883.09
Special Debt Service 78,643.20
Special Roads 11,095.77
9,390.50
General Schools . . ..
-Special Schools-,
r 26,747.24
$156,617.41
A reserve amounting to $47,382.47
has been set aside to provide
against the final settlement to be
made with the Tax Collector cover
ing the years 1925 through 1930.
This reserve to provide for losses
originating through tax releases,
errors, insolvents, commissions, etc.
Any excess over this amount will
necessarily be prorated over the
various funds of the County, in
cluding the school funds, as their
interest may appear. This settle
ment is to be made as quickly as
your Board finds the time con
venient to goi over the entire list
of uncollected taxes and approve
the releases Jound therein. The
settlement should further be held
in abeyance until such time as the
disposition can be determined of
the unseated land sales certificates
more specifically referred to in
he iu'ditnrebo'rt coVering"the Tax
Collector's accounts.
" With the -present status-of-the
Tax Collector's accounts as de
tailed in audit report covering this
function,' the tax collector over
paid th accounts "to the extent of
$1,986.61, which has been set up
-as . a liability subject to and con
tingent with the procedure relative
-to the releasesunlocated land
sales certificates, etc.
2. DELINQUENT TAXES
A summarization of the delin
nuent tax accounts is as follows:
1925 2,261.39
Bank & Trust Company of
York City, dated January 1,
there is a balance at this
the credit of Macon
amounting to $26,565.10.
This money should only be dis
bursed in the liquidation "of debt
service in default, and the bank
should be notified to pay out this
money only upon duly authorized
lists of debt service in default. A
copy of these lists or statements
should be forwarded to the Secre
tary of the Local Government
Commission, who could, in all
probability, render assistance in
having the coupons or bdnds, or
both, presented to the Central Han
over Bank & Trust Company for
redemption.
6. COUNTY HOME
You will note among the De-
f erred Chafges'County-Home" $5r
000.00." This item covers a. trade
whereby the old County Home
property was traded for new prop
erty, the County paying a differ
ence of this amount. Inasmuch as
this part of the purchase price is
being liquidated through the op
erating funds and not through cap
ital bond or note issue, it is a
proper charge to deferred charges.
7. BUDGET AND OPERATING
POSITION
Exhibit III reflects a detail of
the budget and operating position
for the -year. This statement re
flects a very creditable showing,
iridicatrngj-of-jcourser-that-the af
fairs1 of 1 your Countv are beine
conducted in a very efficient and
economical manner.
- A summarization of the budget
and operating position follows :
Total Requirements for
the Year .....$ 74,525.00
Total Revenues Realized 79,430.56
8 DEBT SERVICE
IN DEFAULT
Debt Service in Default at June
30, 1933, was:
Principal $ 8,500.00
Interest . . 49,680.00
$ 58,180.00
9. BONDS
Total bonds outstanding, after the
default of $8,500.00 has, been de
ducted, amounted to. ... .$972,000.00
From which is deducted. . 315,000.00
Or a balance of ......... .$657,000.00
The item of $315,000.00 represents
the issue of road bonds that has
been assumed by the State High
way Commission until such time
that a loan to the Commission of
$300,000.00 has been f liquidated.
10. SURETY BONDS
The status of the surety bonds
remains unchanged from that of
June 30, 1932. Refer to audit re
port as of that date.
11. BOOKS AND RECORDS
We desire to compliment your
County Accountant- for- theexcel
lent manner in which he is han
dling the accounts and records.
These accounts were found to have
been handled in a most satisfac
tory and pleasing manner. . -
12. CONCLUSION
With the exception of the de
linquent taxes, the financial and
operating position of your County
reflects a very creditable showing.
The future of the debt service in
default depends largely, and prac
tically conclusively, upon the col
lection of the greater part of the
delinquent taxes, including, of
course, the land sales certificates.
We would recommend that im-
School Vouchers Withheld by County .
Accountant 9,659.54
19,206.54
TOTAL LIABILITIES AND RESERVES
FUND SURPLUS
General County Fund $ 9,15X4
Special County Fund 703.97
General Debt Service Fund ............... .. 20.883.09
2. CO JNTY ACCOUNTANT
103 S; i;irv --CiiUiity Accountant..
103a Salary Assistant
$100,974.90 201 Supplies
,202 I 'riming and Stationery
.$
1,620.00
600.00
200.00 .
50.00
$953.00
437.50
69.IJ9
TOTAL COUNTY-WIDE SURPLUS. '..'$ 30,740.70
Franklin Debt Service Fund. .$ 45,289.76
Nantahala Debt Service Fund.. 21,761.59
. Highlands Debt Service Fund.. 11,591.85
Franklin Roads
Millshoal Roads ........
Ellijay Roads ..........
Sugarfork Roads
Highlands Roads .......
Flats Roads ............
Smith Bridge Roads . . . .
Cartoogechaye Roads . . .
Nantahala No. 1 Roads
Nantahala No. 2 Roads .
Burningtown Roads
Cowec Roads ;.
4,618.03
275.27
585.44
431.50
936.35
177.92
890.58
704.03
384.25
735.51
529.28
827.61
78,643.20
11,095.77
General Schools:
Current Expense
Capital Outlay ..
Debt Service . ...
District Schools:
Franklin ...
Highlands , ...
. Union
7,261.63
541.89
1,586.98
,.$ 11,969.40
, . 5,505.07
690.40
9,390.50
mediate steps be taken to .appoint"
a delinquent tax collector who will
proceed with promptness' and dis
patch ; to. collectj'vcry dollar of the
accou n t s -1 h a t .it J s pos sibletu, jcqI
lect, the proceeds' of which are to
be applied upon the debt service
in default in the order in which it
matured.
REQUIREMENTS I We would also recommend that
BUDGET SURPLUS ... $ 4,905.56 all effort possible be immediately
Total Appropriations for j put forth toward the collection of
the Year $ 74,525.00 monies due the County, on the
Total Expenditures and ' notes receivable hereinbefore re
Commitments 72,789.13 fcrred to.
' We further recommend that the
APPROPRIATIONS office of the Clerk of the Coun
Iotla - 961.55
Holly Springs ..' 393.60
Higdonville . . .
Salem
Pine Grove . . '
Clear Creek . .
Mulberry
HickaryJKnoll.
405.87
772.01
493.17
321.35
519.49
624.94
3. COURT
108 Salary
205 Furl . ;
239 lanifnr's
$ 2,470.00
AND GROUNDS
$ 180.00
; 25.00
Supplies ............ 50.00
HOUSE
-Janitor
303 Lights and Water
312 Repairs
317 Insurance ,
100.00
25.00.
150.00
$ 1,459.59 $ 1,010.41
$ 197.50
51.00
153.59 '
174.43
171.66
120.00
4.
201
REGISTER
Supplies ,
OF DEEDS
$ 530.00
$150.00
5. SHERIFF
123 Capturing Stills $75.00
128 Fees and Costs . 500.00
201 Supplies 25.00
309 Conveying Prisoners & Insane 400.00
$874.18
$ 10.71
$ 35.00
553.00
7.75
, 658.91
-$344.l:
$ 139.29
6. HEALTH
103 "' Salary-Health ' and Welfare.
131 'Salary Coroner
$ 1,000.00 $ 1,254.66
-$254.'
$750.00.
11X1.00
$ 262.25
331.95
7. FARM DEMONSTRATION
103 -Salary-Farin Agent .$
201 Supplies
'Agriculture Fair
$850.00
1,080.00
$ 594.20
1,080.00
, 15.00
25.00
$255.:u
$ 1,080.00 $ 1,120.00
TOTAL GENERAL FUND $ 12,500.00' $11,828.30
-$40.00
$731.70
"B" SPECIAL FUND
1. PAUPER
103 Keeper County Home
212 Medical
317 Insurance ;..
321 Burial Expense
326 Outside Aid
....$
Academy
Otto ....
Slagle . . .
Acquone
Beecher .
Mountain
Chapel . .
Grove
315.97 r. : "
487.62
1,476.55 .
767.62 -zzrz
642,83 - I
16.57 383.23 16,747.24 156,617.41
TOTAL LIABILITIES, RESERVES AND SURPLUS. $263,592.31
BUDGET SURPLUS... .$
TOTAL OPERATING
AND BUDGET
SURPLUS ..,........,..$
1,735.87 j be audited and the affairs of this
'office be put in order.
I Respectfully submitted,
I R. C. BIRMINGHAM & CO.
6,641.43 By R. C. Birmingham, CP. A
Jf-
EXHIBIT I
Financial Position
MACON COUNTY, N. C.
June 30, 1933 r ". "
Assets and Deferred Charges
CASH ON DEPOSIT "
Bank of Highlands Closed . . . ."77777
" First National Bank of Waynesville.
First National Bank of Waynesville
Federal -Relief-Contra .
$'
501.85
549.67-
2,083.19 .,..$ 3,134.71
1926
1927
1928
1929
1930
16,365.53
8,257.81
26,026.49
29,555.75
39,770.81
$122,237.78
Sundry Delinquent Taxes $ 995.72
Land Sales Certificates.. 18,314.38
-: " $141 ,547.88
LESS : Reserve for Final
Settlement Delinquent
" Taxes 47,382.47
DELINQUENT-TAXES REGUIARJ777
1925 '...$ 2,261.39
1926 16,365.53
1927 8,257.81
1928 26,026.49
1929 29,555.75
1930 ............. 39.770.81 $122,237.78
DELINQUENT TAXES SUNDRY
Franklin Township $656.02
Ellijay Township 339.70
995.72
LAND SALES CERTIFICATES
1925-1926 on File $ 6,251.70
1927 on File 6,597.51
1925-1926i;nlocated 2,293.07
1927
EXHIBIT III
Budget Position
MACON COUNTY, N. C.
June 30, 1933
REVENUES
AND REQUIREMENTS
A" GENERAL FUND
901 Taxes
932 Copper Sales
933 Sundry
Surplus to Balance .
Budget Realized
Budget
Surplus
,.$
9,000.00
50.00
150.00
3,360.00
"B"
901
919
933
$ 12,560.00
SPECIAL FUND
Taxes : $' 0.000.00
Court Costs ... m.w 1,500.00 ....
Forest Reserve Fund i,iaj.uu
$ 10,591.46
225.00
3,360.00
$ 14,176.46-
$ 8,067.98
$ 1,616.46
.1,800.00
150.00
36.00
300.IX)
714.00
1,404.49
480.15
52.60
520.05
719.62
$ 3,000.00 $ 3,170.91 - 176.91
COURTS
116 Salary luvende Judge ..
119 - Court Stenographer
T2 rJ u roTaiT T Wi f tie ssTee ST.
124 Court Costs ...
202 Supplies
. $100.00
500.00
3,500.00"
. 2,500.00
. 300.00
$ 6,900.00
3. JAIL
131 Jailer and Supplies .$ 1,000.00
317 Insurance .................... 25.00
312 Repairs . . 25.00
$100.00
372.50
3,113.82
348.67
$ 7,824.54
$ 1,258.34
48.99
$924.54
$ 1,050.00 $ 1.307.33 -$257.33
4. FIRE PROTECTION ........ $000.00' $4o074. $139.26
TOTAL SPECIAL FUND : .$ 11.550.00 $ 12.769.52 -$1,219.52
"C" DEBT SERVICE FUND
801 Bond Interest Ikiid
and Accrued- .......$ 41,915.00
804 Maturing Bonds Paid
and Accrued 8,500.00
urplusTCT Balance
2,350.00
"" 325.53
2,350.00:
"C" DEBT SERVICE FUND
901 Taxes General
Franklin
$ 11,550.00 .$ 'lOJ-U.Sr -$K()6.49
Highlands
Nantahala
$ 45,896.34
5,257.41
" I.33O.35-2,026.49
$ 50,415.00 $ 54,510.59 $ .4,095.59
TOTAL REVENUES AND J
REQUIREMENTS - $ 74,525.00
EXPENDITURES
AND APPROPRIATIONS
"A" GENERAL FUND
1. GENERAL GOVERNMENT
Budget
$ 79,430.56
Expended
$ 4,905.56
Budget
Surplus .
TOTAL EXPENDITURES
AND APPROPRIATION'S
$ 50,415.00
.$ 74.5251XL
$ 39.091.31
- 8.500.00
$ 48,191.31
$ 72.789.13.
$ 2,223.69
$ 1,735.87
BUDGET SUMMARY
Revenuesnd--4'i-equirMiK4v4sT
Expenditures and Appropriations.
.$-74.525.00 $ 79,430.56 $4.905.56
. 74,525.00 72,789.13 ... 1,735.87
EXCESS OF REVENUES OVER
EX PEN DITUR ES-AND-. D,S. DEFAULT
BUDGET SURPLUS
.$-6,641.43.
.$ 6,641.43
EXHIBITVII
NET DELINQUENT
TAXES .$-94,165.41
3. CURRENT AND
SEMI-CURRENT TAXES
Due to present day "economical
conditions, we refer to 1931 taxes
as semi-current. A summarization
of the current and semi-current
taxes are :
1931 .....$ 42,647.23
1932 69,654.22
Unlocated 3,172,10 18,314.38
DEDUCT Reserve for Final Settlement
Delinquent Taxes 7. . 7; .... .
L$L41f547
47,382.47 94,165.41
CURRENT AND SEMI-CURRENT TAXES
1931 ;.- $ 42,647.23
1932 '.-.... 69,654.22
NOTES RECEIVABLE
Liquidation Account Bank
Sinking Fund Investments.
of Franklin $ 34,007.96
................. 9,383.40
112,301.45
43,391.36
, $112,301.45
It is our understanding that your
Board will require a final settle
ment both on 1931 and 1932 taxes
on the first Monday in October
of' this year.
4 NOTES RECEIVABLE
The total Notes Receivable Ac
count amounts to $43,391.36. . $34,
007. of this amount represents
notes accepted from the Bank of
Franklin at the time this bank
rinsed to function prior to the re-
vrtra ni ation. " The remainder,
-aniountinfrlo. $9,3H3.40,Js . composed
of sundry notes receivable rcpre-
.;Cntiiig money loaned several years
a:. to various parties which was
se-ured by real estate mortgage
:;tH'-stocks and bojidsThese uotes
rrc all past due and should be col
lected, along with the notes ac-rp-
teil from the Bank of Franklin.
We are not in a position to pass
unon the value and collectibility of
the notes. You will find a detail
of the notes referred to above
incorporated into our audit report
of June 30, 193J. ,
5. DEBT SERVICE CASH
. According to bank statements re
ceived from the Central Hanover 4,
DEFERRED CHARGES
Commission Advances to A. B. Slagle
Sheriff-fTreasurer Pending Final Settlement
1931 and 1932 Taxes ,..,;.$ 5,559.70
Returned Checks Chargeable to A. B. Slagle 39.68
County Home Purchased Through
Operating Funds 5,000.00
101
102
111
112
113
125
$300.00
500.00
300.00
1,750.00
County Commissioners
Clerk to Board ...
County Attorney ..
Election Expense
Tax Listing and Preparing
Books : " 2,000.00
Audit 750.00
127 Vital Statistics' T7r.TT:
202 Printing and Stationery
$451.15
421.86
64.33
1,232.74
' 2,315.50
750.00
239eSefarSuwes-TTTT
240 Tax Supplies
301 Advertising .........
307TraVe"l-"77:.
320 Awards and Damage
323 Tax Refounds
50.00
50.00
150.00-
150.00
50.00
400.00.
. 274.77
0.88
10.00
108.38
V 1H0.31
18750
DEBT SERVICE CASH ON DEPOSIT
With Central Hanover Bank & Trust
Company, New York City
June 30, 1933
Per Statement of Bank as of January 31, 1933 .....,..$
300.00
177.75
333.79
NOTE $10,500.00 , of this ' amount was to apply against Debt
Sxrv".
2,100.00
2,100.00
2,100.00
2,100.00
2,340.00
595.00
3,120.00
110.00
3,850.00
-5,350.00--
JO -
1,500.00
$80,000.00 which Were never issued.
$ 6,480.00 $ 6,514.96
-$34.96
TOTAL - $ 26,565.10
DEBT SERVICE CASH
Central Hanover Bank & Trust Co., N.Y.C. $26,565.10
LESS-Reserve for Debt Service Cash...... 26,565.10
10,599.38
.00
EXHIBIT VIII
Bonds
MACON COUNTY, N. C.
June 30, 1933 ;
DEFAULT
TOTAL ASSF.TS AND DEFERRED CHARGES
, .$263,592.31
T
T
-3,604.38
Liabilities, Reserves and Fund Surplus
NOTES PAYABLE . "
Rebecca Ramseyon -Demand -JJ... $ 4,450.00
ACCOUNTS AND NOTES PAYABLE
. Purchase New County Home
DEBT SERVICE IN DEFAULT
Matured Unpaid Bands and Interest
RESERVE STATE SCHOOL TAXES
1931 ,.........$ 7,175.36
1932' 10,288.82
CONTRA RESERVES
58,180.00
17,464.18
h DATE
5 1-1-28
Su 1-1-29
6 1-1-24
6 2-1-22
6 8-1-23
6 8-1-14
5i 3-1-26
5. 3-1-26
6 3-1-21
DESCRIPTIVE
MATURITY PLACE PAYABLE.
AMT.
Federal Relief Fund .;
!N ACCOUNT WITH C. L. INGRAM, TAX
COLLECTOR
Subject to Final Disposition .Tax Releases
and Unlocated Land Sales Certificates '
COUNTY SCHOOLS OPERATING RESERVES
School Debt Service 'in Default 9,547.00
2,083.19
1,986.61
6 3-U6
6 9-1-09
W 4-1-25
6 4-1-14
92 10-1-24
11-1-26
6 11-3-21
School Funding Serial
School and Road Funding. . Serial
Road and Bridge, Nantahala
Township
Franklin Graded Schools..
School Notes P.
FYanklin Township Roads
Road and Bridge
Road and Bridges.
Franklin and Highlands-
-Tw n sh i p Roa ds,
Jlighlands Schools .
- Franklin Schools
Central Hanover B.
Ceuaral Hanover. B
& T. Co. $42,0O0.(X) .
& TJCc. 100,000.00
I'ULNCIPAL
$2,(HX).00
TOTAL BONDS
INTEREST TOTAL & DEFAULT
$2,075.00
5,500.00
$
Central Hanover B. &. T, Co.
Central Hanover B. & T. Co.
Central Hanover B. & T. Co.
Central Planovcr B. & T;- Co.
J-1-.Vi-56 Central Hanover B. & T. Co.
.3-1-44-56 Central Hanover B. & T. Co.
.Serial
. .Serial
. Serial
.8-1-24
2,irt:oo
39,(KK).00
12,(KK).(K)
00,(HIO.tK)
1S,(,KK).(K)
57,0(K).OO
-2,000.00
2,lXX).00 .
1,500.00
,.3-1-41
3-1-36
JSeriaL
. . . . 4-1-55
4-J1-44
Roads and Bridges
Franklin Township Roads
Roads and Bridges. . . . . r
Roads and Bridges. ......
Roads and Bridges...
Road Bonds January 1, 1924, SlA
$80;000.00 found to be . unissued.
ISonds as Shown '
LESS Road and Bridge Bonds Assumed
NET COUNTY OBLIGATION .........
Central Hanover B. & T. Co. 20,000.00
Cent7arHalioverBr& T. Co. 6.00010
Central Hanover B. &'-T.-X.-:A0()0.(X)
Central HanorerB7 &-T7Co775,0(K).rt)
Central Hanover B. & T. Co. 30,(X)0.00
240.00
2,460.00
765.00
4.980.QO
,'1,485.00
4,702.50
1,81X1.00
540.00
4,075.00
5,500.00
-2,240.00 -4,4o0.00
2,205.00
4,980.00
1,485.00
. 4,702.50
1,800.00
540.00
$ 44,000.00
100,000.00
-4.000.U) -41,(XXJ.O0
13,500.00
60,000.00
18,000.00
57,000.00
.10-134-54 Central Hanover B, & T. Co. 90.(H..I.(H) -Serial
Central Hanover B. & T. Co. 315,000.00
11-3-41 ! Central Hanover B. & T. Co. 11X1,000.00.
$972,000.00
by State.... 315,000.00
XOOO.OO 600.00 1.600.00
- O.1S7.50 . . 6.1S.50
. 1,920.00 1.920.00
7,425.00 ' 7,425.00
Assumed bv State
9,000.00
9,000.00
-20,000.00
6,000.00
7,000.00
-75.O00.O0:
30,000.00
90,000.00
315,000.00
100,000.00
.$657,000.00
' $972,000.00 $ 8,500.00 $ 49,680.00 $58,18t).00 $980,500.00