REPORT OF THE CAMBRIDGE WATER-BOARD. TO THE HONORABLE CITY COUNCIL OF THE CITY OF CAMBRIDGE: In obedience to the requirement of the city ordinance, the Cambridge Water-Board herewith presents its Fourteenth Annual Report. Total Cost of the Works. Cost of the Water-works Nov. 30, 1877, as per last year's report Expended for construction during the year ending Nov. 30, 1878 Total expenditure Add difference between discount and expenses allowed, and premium received in negotiating the water-loan from the first, as per statement of W. E. Gates, expert . Making total cost of works Nov. 30, 1878 $1,672,592 29 12,752 55: $1,685,844 84 6,827 10 $1,692,171 94 Net Cost of Water-Works. Amount of total cost as above stated $1,692,171 94 Less amount of water-loan paid from the water Amount brought forward This is the amount of unpaid water-debt, Nov. 30, 18781 Deduct from this the value of the water-debt sinking-fund as shown by the Trustees' account to Nov. 30, 1878 Showing net cost of the works Nov. 30, 1878 $1,505,771 94 296,289 71 $1,209,482 23 Statement showing in brief the transactions on account of the Water-works for the year ending Nov. 30, 1878: Received. Appropriation for construction account : From supply account, and the sale of old material, 3,784 89 Water rates for the year ending Nov. 30, 1878, $12,752 55 25,229 06 1,754 79 90,960 00 45,480 00 3,247 45 66 " 1877, $179,423 85 $157,443 91 154,843 59 $2,600 32 Showing gain in the year 1878 There are due from the city water rates which were not approved in time to include in this year's account, to the amount of $7,164.65. 1 There is a discrepancy between the water-bonds outstanding and the unpaid cost of the Water-works, amounting to $22,728.06, to which we call your attention, and which we will explain in another part of our report. Water-Bond Account. Whole amount of water-bonds issued Less amount paid, from sinking-fund $1,714,900 00 186,200 00 Bonds outstanding per Auditor's books Leaving amount of unpaid water-bonds $1,528,700 00 200 00 $1,685,344 84 Total expenditures on Water-works as per pre- Amount of brokerage and tax paid. Less premiums received $22,699 63 1,381 57 $24,081 20. 6,827 10 $1,692,171 94 186,400 00 unpaid cost of the Water-works in the sum as shown of It is plain that this amount does not in any way belong in the water-debt, and, further, that we have been charged the interest on this sum from time to time while it has been accumulating. This has been brought about by the unexpended balances due from the sale of water-bonds, having lapsed into the city treasury at the end of the year, while the extension of the Water-works account got no credit in the next year for this unexpended amount. We would recommend that you cause this account to be made up correctly, and the proper steps taken to make the outstanding water-bonds, and the unpaid cost of the Water-works, agree; and that the accounts be so kept in the future, that a similar discrepancy will not appear. In former years there have been charged to the Water-works account, several large amounts, the connection between which and the extension of the Water-works it was difficult for all to see. But, whatever differences of opinion there may have been in regard to these special items referred to, it seems to us there can be none in regard to the impropriety of charging to the Water-works any portion of the current expenses of the city; and this seems to be the case in regard to these balances, which were the proceeds of the sale of water-bonds not used for the account of the Water-works, but merged in the general funds of the city, as hereinbefore explained. RAINFALL AS GIVEN BY THE CAMBRIDGE OBSERVATORY. |