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November 10th, 1936.
<br />
<br /> The School Board is at present furnishing free books to all indigent children,
<br />at the annual cost of $2,200.00.
<br />
<br />COBPORATE ACSESS~NT$.
<br />
<br /> The systematic, annual reduction in assessed values of Public Service Corpora-
<br />tion property, by the State Cgrp9ra~on Commission, is of seri?usL~onc~?n: The reduc~io~_~
<br />assessed values in 1936, was $1~,06~.00, which caused a loss ~n ~ne C~y~s revenue, ~n
<br />of $3,287.00. From 1931 to 1939 inclusive, the decrease i~ taxable values of Public Service
<br />Corporat{ons, aggregated $7Yl,loO.O0. Therefore, should the annual reduction cease wi%h1936~.
<br />the City's income hereafter, from this source, will be $20, k35.7~ per year less th~u in 1930,
<br />This matter will be taken up with the Commission within the near future.
<br />
<br />TAX COLLECTIONS
<br />
<br /> Of the ~ax asse~smen~ for the year 1935, only 76~ per cent had been collected
<br />up to November~ let, 1936. Of tne 1936 taxes, 31.6 per cent had been collected, largely in
<br />prepayments, for which the City paid in interest, $8,700.00. ~ . ·
<br />
<br /> The weak spo~ in the City's fin~uclal structure appears ~o be its plan for the
<br />collection of ~axes. Taxes are due January let, yet are not collectible until November, and
<br />delinquents are not penalized until December 5th, resulting in the City being forced toborrow
<br />money £or current expenses through ~en or eleven months of operation; interest on which
<br />amounts to a 9onsiderable sum. Furthermore, taxes fall due at ~he end of the year, when the
<br />h61iday demands for money are pressing.
<br />
<br /> In my opinion, a plan requiring quarterly payments of taxes with the penalty
<br />regulated to a sliding scale upward, will improve the City's finances, and prove helpful to
<br />the taxpayer, inasmuch as instalment payments are more convenient to the average person.
<br />
<br /> A plan, also should be devised for the collection of delinquent taxes, by
<br />which the delinquent may make systematic periodical payments, to suit his ability and conven-
<br />i~nc~ to pay. I believe such an arrangemen~ will enable many delinquents~to, ultimately, pay
<br />the taxes and save the property, which, otherwise, he may lose.
<br /> I have been g~ving these matters some ~hought, and hope to make a reco~enda-
<br />tion at an early date.
<br />
<br />FINANCIAL POSITION I3~PROVED
<br />
<br /> The grim figures presented herein paint ~ drab picture, however, not without
<br />a touch of color, for since the first of January, 1935, the City's financial position has been
<br />imprevea ~o the extent of $~5,72~.29, which figure ma~ be. broken down into the following, de -
<br />tail:
<br />
<br />The amount paid by the City ~the Sinking Fund
<br /> " on " Floating Debt
<br />
<br />$73,73~.5o
<br />117,500.00
<br /> 79,260.79
<br />
<br />1936
<br />
<br /> Bonds retired
<br /> Less bonds issued
<br />.Amount paid by City ~o Si~king Fund
<br /> Interest r~ceived by Sinking Fund (Est.)
<br /> Total
<br />
<br />79,500.00
<br />13~OOO.00
<br />
<br />66,500.00
<br />73,73~.oo
<br />7~,O00.00
<br />~85,7~7.29
<br />
<br /> In closing, may I suggest that should the City's present economical policy be
<br />continued and expenditures held within the income, the time ~ill soon come when the City may
<br />do many desirable things which, now, through force of circums~anoes, it must forego."
<br />
<br />Motion of Mr. Hutchins to place the following ordLuance on its first reading,
<br />
<br />was adopted:
<br />
<br />I~AN ORDINANCE OF THE BUDGET APPROPRiATiONS FOR THE
<br />CITY OF POR~SMOUTH~ VIRGINIA, FOR THE YEAR 1937."
<br />
<br />The following communication from the City Attorney was- read:
<br />
<br /> "I am inclosing herewith an ordinance providing for the appointmen~ of a
<br />Civil Service Commission in accordance with Chapter 12 of the amended Oharter of the City of
<br />Portsmouth. The purpose of this ordinance is to provide for the election of the mercers of
<br />the Commission. I believe the provisions of Chapter 12 of the Charter are self-executin~
<br />but i~ will probably be necessary whe~ the Commission begins to function ~o make certain ad-
<br />ditions to the ordinance, or probably substitute a new ordinance to cover the entire set-up,s
<br />
<br />inclosing the following ordinance:
<br />
<br /> ~AN ORDINANCE RELATING TO A CIVIL SERVICE COmmISSION
<br />FOR THE CITY OF PORTSNOUTH, APPLICABLE TO THE POLICE
<br />AND FIRE DEP~_RT~ENT$, PROVIDING FOR THE APPOiNT~ENT
<br />OF THE ~-25~ERS, TF~EIR TEPJ~B OF OFFICE AND POWERS
<br />DUTIES".
<br />
<br />Mo~ion of ~. Fox to suspend the ~ies and consider said ordinance, on its
<br />
<br />
<br />
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