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/ Pape Eipht THE CLINTON CHRONICLE Thursday, November 20, 1952 Lions Club Hears Of Financial Status (Continued from page one) as long as possible. This equipment, should then be traded and not aban-j doned. City equipment is not proper- j ty of the citizens of a town or the of ficials of a town. Therefore, this' equipment should only be used to| carry out the^purpose for which it was purchased and not for personal benefits. With adequate control and maximum efficiency, the Town may be able to fulfill its obligations as j they mature. “During this audit period water and light penalties collected totaled $7&8.16. The ordinance which estab lished these penalties stated that any water or light account paid after the 10th of the month would bear 10% penalties. During the year these ac-j counts collected after the lOthl amounted to $56,461.53 for which i the penalty would have been $5,- j 046.15. The Town lost $4,857.99 due! to not enforcing this ordinance. We recommend all penalties be enforced and collected in the future. "The Town has followed the poli-! ty in the past of writing off taxes; after three years. These taxes against' personal property are worthless af ter .three years; howevejvlaxes. .on real property are always collectable fis the 'Town^crrrTevy on ttns -prop- eryt. We did not nulla bona any of t the 1943 taxes and recommend that these properties be levied upon and the taxes collected. Internal Control •The internal control of the Town's finances is not adequate for the finances handled during a year. The Town Clerk and Assistant Clerk handle all finances with no one checking or inspecting these transac tions except for an annual audit, i During the fiscal year ending August 23, 195?, the total receipts of the Town exceeded $383,000.00 with this entire amount being receipted, de posited and disbursed by the Town Clerk. The same Clerk maintains the financial records and makes reports to the Mayor and Board of Alder men. The minutes of the Council meetings are retained by this same Clerk and carrying out the decisions made by the Council is entrusted to this clerk to see that they are com pleted. The Mayor is supposed to sign all checks; however, we found many checks with only the Clerk’s signature. AH purchases of small tools and supplies are made by de partmental superintendents with no control over the purchasing of same, the eventual disposal of same or the payment for same. These purchases «j-e mad.e..al.random from the ucaresl tools, supplies, etc., Which the ( Vari ous departments need. "(2) Maintaining of financial rec ords. “(3) Act in Mayors capacity when Mayor is absent. - “(4) Meet with Council each month with financial report of previous j month and expected expenditures for ensuing month. "This Treasurer should be furnish ed with a private office and a secre- j tary tp aid in water and light bill-: ings, maintaining financial records apd filing of purchase invoices and, correspondence. The present Assist ant Clerk should be appointed as As sistant Treasurer with duties consist ing of collecting all monies received. This Assistant Treasurer should; make bank deposits each day and furnish carbin copy of deposit slip to the Treasurer.’Using this method ^ oD control the Treasurer will not! handle any money and will be checking on the accuracy of the As sistant Treasurer. “We further recommend that the Treasurer maintain adequate finan cial records, as set forth under the financial records section below, to ( facilitate this control over monies, purchases and equipment. Financial Records “The minutes of the Council meet- 1 ings are very inadequately maintain ed. We believe this to be an over-' sight on the part of the present Clerk and also -oti- lhe parfc—of the C^uncih The entire Council meeting should, be recorded in the minutes of the meeting. The Council is elected by the citizens to run the finances of a town; therefore, all financial decis ions should originate with the Coun cil. The duties of the Mayor and Clerk are to carry out these decis ions. As the minutes of the meetings, are very inadequate, we were un able to determine what decisions were made, if any, and whether the desires of the Council were enforced, i Each departmental superintendent should report to the Council at least; once a month his activities for the month and receive directions for op erating his department during the ensuing month. No abnormal activ ity should be carried out by any de partmental superintendent without approval by Council, the Mayor and Clerk should make sure that these activities are carried out. “During the past period, no entries; w’ere made on the financial records for water and light billings, result ing in there being no control on these receivables during the year. We rec- ( ommend that each month these bill ings be recorded and during the month the uncollected accounts checked against the control in the general ledger. ‘iN-Q. entries-were made during the ruppher by these superintendents and the Clerk who pays the invoices never sees the purchased items nor does he know whether or not they are received. Each superintendent runs his department with practically no control or supervision. We recommend the present Clerk be raised to a position of Purchasing Agent and Treasurer. The duties of this individual should be as follows: "(1) Purchaser of all equipment, WE DO ALL KINDS OF PRINTING —EXCEPT BAD CHRONICLE PUBLISHING CO. DAVIS SHOE SHOP QUALITY SERVICE Between Wilson’s and Holland’s Grocery Stores Sloan Street We Use Quality Material for All Our Work year for any of the paving bonds is- ued or the assessments receivable against these bonds. These entries . were made during the course of this • I audit. We recommend that these J paving assessments receivable be compared with general ledger con trol periodically during the ensuing' years. "Several other entries were omit ted from the financial records and no posting to ledger was made dur-1 ing the year. However, all of these 1 entries and posting were made dur- j ing this audit. We recommend that all entries be recorded as they oc cur in the future and the general ledgr and subsidiary ledgers be posted at leat once a month. "It is impossible to determine from the records available just whatj properties are owned by the Town | of Clinton and what properties, have been transferred to others. We rec ommend that the Clerk set up a sub sidiary ledger of properties owned | and maintain a control on these properties including the insurance ‘ pertaining there to. These property! accounts should include all real and personal property owned by the 1 Town, with the exception of small! tools which will depreciate in less than one year.” fc i i m i i i i i FfW o V.M.l 11 MT HTTri f . l !T. .TM! ^.%v»;.vIv>.vIv>XvX , Xrw > XvX%vXvX*»Xvrv A LITTLE UARNIK ISA DANGEROUS thing; Your health is your most valuable possession and many people will freely offer you advice as to how to pro tect it. But remember that a little learning is a dan gerous thing. Your physician and your pharmacist have devoted their lives to the. pfotectibn qf your health. You can safely rely only on the advice of your physician when your health is at stake, and you can always rely on us ifor unexcelled prescription service. ASK YOUR PHYSICIAN ' To Photo Us Yoor Prosalptlooii o o o YOUNG’S PHARMACY Phone 19 WE DELIVER Jelks Pre-Christmas CLEARANCE! Greatly Reduced WOMEN’S Sweaters 2.00 Values to $4.98 36 to 40, wool and nylon, slipover or cardigan styles — CHILDREN’S- Dresses Reduced 3.44 Corduroys and cottons. 3 to 6x — 7 to 14 One Group WOMEN’S HATS 1-2 PRICE CORDUROY SKIRTS 2.66 Regular $3.98 value CHILDREN’S Dresses 2.66 Values to $3.98 3 to 6x — 7 to 14 Close-Out — One Group - WOMEN’S 2.00 Values to $5.95 Rayon crepes. Sizes 32 to 38 Stop! Shop! Buy! BOYS 8-OZ. Dungarees 1.39 Full cut, sizes 6 to 16 Sanforized, zipper closing One Group Women’s Rayon Acetate Dresses Reduced! 2.00 WOMEN S FALL . * « SUITS 13.00 Values to $24.95 Wools, flannels, rayons. Junior and misses sizes. .Wine, green, gray, purple, rolay, brown. WOMEN’S ALL WOOL SUITS 28.00 REDUCED! Values to $45.00 Spatter ribs, checks, flannels, tweeds, and gabardines. Sizes 10 to 20, 16^ to 24i/ 2 . DRESSES 1-2 PRICE! Come in and see for yourself the grand values, the excellent styles. Many, many colors and kinds. WOMEN’S RAYON LINED SUITS REDUCED! 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Double or single breast. Regulars, longs, shorts, stouts. 34 to 36 MEN’S CORDUROY” SHIRTS. 3.77 Regular $4.98 value Gold, rust, navy or maroon. Sizes 14 to 16V^ MEN’S RAYON GABARDINE .. 16.95 It’s the lowest price in years for a good-looking water -repellant topcoat. Sizes 36 to 44. REDUCED TO CLEAR MEN’S FALL DRESS PINTS.4.00 Values to $7.95 Worsteds, gabardines, wool shark skins, flannels. Sizes 28 to 44. ..Complete Stock of Men’s JlUNTING CLOTHES Pants, Coats, Caps, Boots SHOES REDUCED! DRESS SHOES 5.00 Leather, suedes. Blacks, browns, and reds. ' Famous Buskin FLATS 2.00 Values to $4.95 Leather, suedes. Browns, blacks, and reds. Casuals and FLATS 4.00 i ••■* Values to $6.95 Leather, suedes, combinations. Close-Out Group! LADIES’ BLOUSES ... 1.98 Crepes and cottons, 32 to 40. Reg. $2,98 and $3,98 values. Reduced to Clear! MEN’S WOOL SLIPOVER SWEATERS. .2.00 Values to $4.98 Reduced to Clear! IMPORTED ITALIAN VELVETEEN 2.44 Yd. Reg. $3.98 value Black, red, white, brown, pur ple, green or grey. Reduced to Clear! Failles •Suitings • Gabardines 66c Yd. fteg. 98c value WOMEN’S Flannel GOWNS 1.57 Regular $1.98 values Pink or blue. Rayon Gabardine BOYS’ PANTS 2.00 Sizes 6 to 16. Tan, blue, grey, brown and black. Values to $3.98 / WOOLEN Goods REDUCED! 1.77 Yd. Values to $2.98. It’s a grand buy. 54-inch widthrMany pat terns to choose from. 3-PC. ALUMINUM GREASE SETS $1.00 Buy now for Christmas pifts!