J^C^^ -^s THE CITY OF NEW YORK DE PA RTM E NT OTTINANCE ^1 REPORT :r| TO =1 The Board of Estimate and Apportionment RE = DEFICIENCIES IN TAXES BV WILLIAM A. PRENDERGAST, Comptroller New York, October 27, 1916. To TIIK BOAKD OF ESTIMATE ANU ApPOUTIONMKNT : Gentlemen — I herewith submit statements upon whicli tlie Board may predicate its action in complvinj^ with the requirements of Section 248 of the Greater New York Charter as amended by Chapter 209 of the Laws of 1906, viz., in deter- mining: the appropriation for deficiencies in taxes to l)e inchided in the budget of 1917. The section referred to requires that — " The board of estimate and apportionment sliall * * * an- nually include in its final estimate the following sum which shall annually be raised and appropriated: A .sum equal to so much of the deficiency, on the preceding first day of January, in the product of taxes theretofore levied and deemed by the board to be uncollectible as shall not have been provided for in prior tax levies or by the issue of corpo- rate stock of the City of New York, or by such corporate stock duly authfirizcd by said board to be issued." The statements herewith submitted consist of the following: Table " A " — I'.alancc sheet, setting forth the condition of the tax levies of the years 1905 to 1915 inclusive as at the opening of business January 1, 1916. Table "B" Amjilifying Taljle "A" by giving the totals of discounts, cancellations, etc., agamst each year's tax levy, and similarly showing the amounts added to each year's tax levy or budget to cover deficiencies in the product of taxes since January 1, 1905, thus supporting and giving all essential particulars with respect to the totals of losses and gains on Table " A." Table "C" — Operating Statement, summarizing the financing of the annual budgets of 1905 to 1915 inclusive up to December 31, 1915, showing — (1) the total budget appropriations for these years; (2j the total payments from said budgets up to Decem- ber 3'. 1915; (3) grand aggregate of tax levies of 1905 to 1915 in- clusive; (4) total collections therefrom to December 31, 1915; (5) losses by discount, cancellation, and deductions under Section 48 of the Tax Law : (6) the uncollected amount as of December 31, 1915; (7) the net amount contributed by the General Fund to finance the budgets of 1905 to 1915; and (8) the cash used for similar purposes which was derived from revenue bonds and bills outstand- ing December 31, 1915. Table "D " — Balance sheet as at December 31, 1915, showing the status, as at said date, of the annual budgets (appropria- tions) of 1905 to 1915 inclusive. The purpose of this series of correlated statements is to show, by two methods of procedure, the accuracy of the conclusions reached, viz. : That on the first day of Januar\' of the present year there was a deficiency of $5,060,099.56 in the product of taxes theretofore levied (since January 1. 1905), and deemed to be uncollectible, or, in round figures, a deficiency of $5,000.0)00 to be provided in the budget and related tax levy of 1917. J „ . . The first statement, viz.. Table " A," deals with Losses and Uams m j,^^ subject bv stating the losses and gains of the tax lax Levies and j^.^.j^^ ^j^^^^ Januarv 1. 1905, bv dividing these into the Kesultant Ueticit. smallest number of significant elements : The losses of a tax levy consist of discounts ; cancellations ; the amount of taxes which may subsequently be found to be on City property and which therefore must be provided for as a deficiency, and the amount of taxes still outstanding which are deemed to be uncollectible ; in brief, are uncollectible. The gains of a tax levy consist of the amounts which, before 1907, were' added directly to the tax levy, and which, since 1907, have been added to the annual tax levies through appropriations in the annual budgets. Small addi- tional gains also come from increases which attach to the many thousands of separate items on the rolls whereby, through an even tax rate of dollars and cents, a sum of from $200,000 to $300,000 is extended, in the aggregate, on the tax rolls over and above the gross total of the theoretical tax levy. Table " B " is merely for the purpose of supporting the totals on Table " A " by showing the action affecting each jear's levy with respect to losses and gains. Tables " C " and " D " are designed and presented for Financing the purpose of showing the operations from the budget point Tax Budgets of view ; in other words, to show that in the financing up to and December 31, 1915, of the annual budgets of 1905 to 1915 Resultant inclusive, there is a resultant deficit as shown by the Balance Deficit. Sheet (Table " D ") of S5 .060.099. 56. which exactly corre- sponds with the deficit as shown on Table " A," the Balance Sheet dealing with the losses and gains in the tax levies. As the deficit to be provided in the budget of any year must necessarily be predicated on (1) actual losses and (2) on estimates of amounts of taxes outstanding but deemed to be uncollectible, it would be sufficient, to carry out the rec|uirements of the law, to place an even sum of $5,000,0(X) in the budget of 1917 to provide for deficiencies in taxes. Yours truly, (Signed) W.M. A. PREXDERGAST, Comptroller, u < z O H Z w H < w Q I 'J. O y u y. < si u O > H U H 23 D Z C3 Z ~ CL, a -' X -s H o CO 5> ■ Eh J = L. X S => z < a oil a..2 -a ."'•3 •S "< - p :/) O -a""* — -5 i; ■" - -5 'A ^^ ^. uJ rt ^ p J 1/5 z ox t '-' tt c _— 1; Z -5 1-3 U U 4> w m rt-O ■^ W '-> «1 lO u k. ►4 ^c-i o i3 =^5 .0 I — . — r so 'is'5 3 •^.i:'*' W5 — O . •3- 0.2 o o H23^ *^ 3 V VI _, so u •3 jJ 3 « o c ■-5 .X .2 i; ». 9 — rtS'-l 3 "« s — i^ c O F-^" ^ > o ?=3 ^ ^ .r; = c (/> u = 5 QJ c S! L» 01 u o-r a J *^ "5 M'S VI H? H **- o"^ o u o. 2^ •5 n •a m Q o o H U K-O O, x y. 2 '^ o t* *- •3 9- P3 « n • ^ ^ „ ..g V, P E < Ul-4 CL, O o'c E_-^ < S2 -.Ci ^'- 1 c-j n ■:: c u W Si* O 0< « •o 9 THE CITY OF NEW YORK— Bureau of TABLE "B" — Re TAX LEVIES of 1905 Statement showing the ANNUAL AMOUNTS of DISCOUNTS allowed for the PROMPT PAYMENT of TAXES; also the AMOUNT of CANCELLATIONS up to DECEMBER 31, 1915, on each YEAR'S TAX LEVY: also the TOTALS of TAXES deemed to be UNCOLLECTIBLE. LOSSES. Annua I Amounts of Discounts Allowed for Prompt Payment of Taxes: Year Real Estate Real Estate of (Lands and Special of Personal Levy. Buildings). Franchises. Corporations. Property. Totals. 1905. $468,956 39 $3,985 S3 $3,837 73 $36,297 77 $513,077 42 1906. 489,633 26 4,176 80 873 88 31,668 71 526,352 65 1907. 44«,979 51 4,892 06 6,527 13 29,434 10 489,832 80 1912 285,493 48 19,239 56 12,779 61 317 512 65 1913 ■ 258,379 15 14 594 07 5,955 66 278 928 88 1914 264,895 11 17,817 38 9,390 65 292,103 14 1915. 282,073 69 24,678 68 18,079 95 $57,444 61 ons to Decembei 324,832 32 $2,498,410 59 $89,384 08 $97,400 58 ich Year's Tax Levy: $2,742,639 86 Amounts of Cancellati r 31, 1915, on E, ' Year Real Estate Real Estate of (Lands and Special of Personal Levy. Buildings). Franchises. Corporations. Property. Totals. 1905. $448,090 57 $22,237 74 $913,969 32 $1,130,558 61 2,514,856 24 1906. 448,809 39 236,202 24 1,228,611 95 709,748 37 2,623,371 95 1907. 499,193 16 343,330 32 1,906,583 65 718,583 72 3,467,690 85 1908. 490,573 44 601,978 98 2,017,650 47 579,978 44 3,690,181 33 1909. 360,541 11 233,745 86 2,079,941 38 561,756 31 3,235,984 66 1910. 307,290 83 1,631,837 00 307,507 26 517,311 03 2,763,946 12 1911. 327,673 76 1,025,261 52 198,100 86 523,405 73 2,074,441 87 1912. 319,459 95 91,744 18 208,609 73 467,162 18 1,086,976 04 1913. 256,116 55 884 75 65,318 46 180,347 13 502,665 89 1914 223,606 16 4,454 08 69,409 93 297,470 17 1915 61,030 09 687 00 54,001 14 115,718 23 $3,742,385 01 $4,187,222 59 $8,931,434 16 $5,512,262 59 $22,373,304 35 Losses by Discounts and Cancellations Amounts Uncollected ; on 1905-1915 L as at December . ■evies $25,115,944 21 31, 1915, on each year's Tax Levy: Year Real Estate Real Estate of (Lands and Special of Personal Levy. Buildings). Franchises. Corporations. Property. Totals. 1905. $181,221 43 $35,229 58 $13,564 93 $4,496,038 94 $4,726,054 88 1906. 191,259 30 44,628 00 12,655 04 3,323,043 98 3,571.586 32 1907. 249,673 02 358,951 38 13,455 57 3,059,301 45 3,681,-381 42 1908. 363,330 01 495,823 41 14,029 81 2,143.609 28 3,016.792 51 1909. 482,782 87 124,588 52 18.466 21 2,379.400 76 3,005.238 36 1910. 718,380 42 661,474 83 74,741 74 1,450,088 41 2,904,685 40 1911. 1,341,234 96 916,115 18 89,400 01 1,270,148 76 3,616,898 91 1912. 2,107,316 80 844,737 30 110,788 82 1.391,129 50 4,453,972 42 1913. 3,605,611 06 1,680,865 31 285.275 44 1,730.979 94 7,302.731 75 1914. 1 Uncol 6,158,408 72 1,616,829 82 279,900 55 $912,278 12 1,988,350 32 10,043,489 41 $15,399,218 59 $6,779,243 33 , . **$20,401,707 54 $1,444,523 27 llected Balance of 1905-1914 Tax Lev 23,232,091 34 $46,322,831 38 1915. $338,845 01 $2,256,980 20 1916. Jan. ics 4mount deemed to be Uncoil edible, I'ic: Real Estate Taxes — excmot from Taxation $292,498 20 400.000 00 *Rcal Estate Taxes— Beds of Streets, e tc Special Franchise Tax . . 1,122.000 00 Real Estate of Corporations Tax 544,000 00 23 000000 00 Amount of Taxes on City-owned Property — Levies of $25,358,498 20 25,358,498 20 1905-1915— to be provided 769,972 27 26,128.470 47 769,972 27 20,194.360 91 25,358,498 20 Balance Uncol llected— Levy of 1915 **24,442.056 02 Total Total Losses 44,636,416 93 $51,244,414 68 *Real Estate Taxes on Beds of Streets, etc.— Levies of 1905-1910. outstanding as at December 31, 1915- $1,400,000, of which $400,000, at the very lowest estimate, will be uncollectible. DEPARTMENT OF FINANCE. Accountancy. to 1915 inclusive as of JANUARY 1, 1916. Showing the annual AMOUNTS ADDED to T.\X LEVIES DIRECT or by BUDGET APPROPRI.\TIONS 1905-191S, to FUND and COVER DEFICIENCIES in the PRODUCT of TAX LEVIES, including the AMOUNT in the BUDGET and TAX LEW of 1916 to cover DEFICIENCIES of 1914 and PRIOR YEAR' LEVIES; also the ANNUAL GAINS or LOSSES in the PRODUCT of TAX LEVIES created by EXTENSIONS on the TAX ROLLS of the many thousand separate items of Tax, i. e., the Increase of F'ractional Mills into Cents. GAINS. Annual Amounts added to Tax Levies direct or by Budget Appropriations, 1905 to 1915, to fund and cover Deficiencies in the Product of Tax Levies, including Amount in the Budget and Tax Levy of 19l6 for such purpose: Amounts added to Tax Levies : Levy of 1905 $1,744,816 56 Levy of 1906 1,845,061 71 Total provided by Additions to Tax Levies $3,589,878 27 Amounts included in Annual Budgets and consequently in Tax Levies : Budget of 1907. 1908. 1909. 1910. 1911. 1912. 1913. 1914. 1915. 1916. $3,000,000 00 3,000,000 00 2,922,447 08 4,000,000 00 10,(X)0,00() 00 3,287,366 74 2,30(l,tK10 00 2,500,000 00 6,112,092 44 4,000,000 00 Total provided by Budget Appropriations and related Tax Levies Annual Gains or Losses in Product of Tax Levies created by Extensions on the Tax Rolls: Cains: Year of Levy: 1912 $450,648 28 1913 179,183 56 1914 356,589 19 1915 507,504 22 Less Total Gains Losses: 1905. 1906. 1907. 1908. 1909. 1910. 1911. 4,959 73 3,054 01 2,583 56 1,812 47 2,576 51 3,513 19 2,895 19 Total Losses Net Gain by Extensions on Tax Rolls . . . Total Additions and Gains $41,121,906 26 $44,711,784 53 $1,493,925 25 $21,394 66 (A) Deficit to be provided in Budget of 1917 i $1,472,530 59 $46,184,315 12 5,060,099 56 $51,244,414 68 (A) As the Tax Deficiency to be provided in each year's Budget must necessarily be predicated on (1) actual losses (i. e., discounts and cancellations), and (2) estimates of the amounts of certain taxes outstanding Init deemed to be uncollectible, it would be sufficient to proviik- an appropriation (in even dollars) of $5,(XX),000 in the Budget of 1917 for this purpose. THE CITV OF NEW YORK— Bureau of TABLE "C"— OPERATING STATEMENT— Summarizing the FINANCING INCOME. Grand Aggregate of Tax Levies— 1905-1915, inclusive $1,411,561,026 64 Less Discounts, Cancellations and Deductions undir Sec. 48 ol the Tax Law $34,449,848 19 Less Uncollected, as of December 31, 1915.. 70,764,887 40 105,214,735 59 TOTAL COLLECTIONS to DECEMBER 31, 1915, from these LEVIES (Net) $1,306,346,291 05 Cash from General Fund to provide and cover Deductions (under Sec. 48 of the Tax Law), of Special Franchise Ta.xes 9,333,903 98 Net General Fund Revenues applied to reduction of Taxes, 1905-1915, in- clusive 354,511,512 76 Cash Loans from Revenue Bonds and Bills outstanding December 31, 1915 43,000,000 00 $1,713,191,707 79 THE CITV OF NEW VORK— BURE.\U OF TABLE "D"— BALANCE SHEET RE ANNUAL BUDGETS of ASSETS. Cash Balance (Vide Operating Statement) $2,299,818 87 Uncollected Taxes as at December 31, 1915, of 1905-1915 Levies: Viz : Real Estate Taxes (Lands and Buildings) $35,800,926 13 $35,800,926 13 Less Real Estate Taxes on City -owned i'rouerf v. .8769,972 27 Taxes on Exempt Real h.state 292,498 20 Real Estate Tax on Beds of Streets, etc.... 400,000 00 1,462,470 47 Real Estate Taxes (Lands and Buildings) Deemed to be Collectible $34,338,455 66 Special Franchise Tax $8,223,766 60 $8,223,766 60 Less Amount estimated to be Uncollectible 1.122,000 00 Special Franchise Tax deemed to be Collectible 7,101,766 60 Real Estate of Corporations Tax $1,251,123 13 $1,251,123 13 Less Amount estimated to be Uncollectible 544,000 00 Real Estate of Corporations Tax deemed to be Collectible 707,123 13 Personal Property Tax $25,489,071 54 $25,489,071 54 i,cj.s Amount deemed to be Uncollectible 23,000,000 (X) Personal Property Tax deemed to be Collectible 2,489,071 54 TOTAL AMOUNT of UNCOLLECTED TAXES (Vide Operating Statement) $70,764,887 40 TOTAL AMOUNT DEEMED to be COLLECTIBLE '. $44,636,416 93 Amount of Tax Deficiency which was included in the Budget and Tax Levy of 1916 to cover Deficiencies m the ,vv^Ann nn product of Taxes of 1914 and prior years • • • • ■ 4,000,000 00 Deficiency in the product of Taxes of 1915 and prior Years' Levies to be provided in the Budget and Tax Levy q{ J9J7 5.060.099 56 $55,996,335 36 000 520 417 7 DEPARTMENT OF FINANCE. ACCOUNTANCy. of the ANNUAL BUDGETS of 1905 to 1915, inclusive, up to DECEMBER 31, 1915. OUTGO. Total Budget Appropriations— 1905-1915, inclusive $1,723,888,224 28 Unexpended Balances as at December 31, 1915, of said Ap- propriations, on Warrant Paid Basis 12,996,335 36 TOTAL PAYMENTS f Disbursements) bv CITY from TAX BUD(;ET APPKOPRIATIOXS of 1905-1915, up to DE- CEMBER 31. 1915 $1,710,891,888 92 Cash Balance as at December 31, 1915 (See Balance Sheet) 2,299,818 87 $1,713,191,707 79 DEPARTMENT OF FINANCE. Accountancy. as at DECEMBER 31, 1915. 1905-1915, inclusive. LIABILITIES. Unexpended Balances of Appropriations of 1905-1915 (Vide Operating Statement) Outstanding Revenue Bonds and Bills (Vide Operating Statement) $12,996,335 36 43,000,000 00 $55,996,335 36 THE CITY OF NEW YORK— DEPARTMENT OF FINANCE. Bureau of Accountancy. TABLE— Classifying, accordins to GENERAL PURPOSE, the SI-ECIAL REVENUE BONDS ISSUED in 1915 and in 1916, REDEEMABLE in 1916 and in 1917, respectively. 1915 Totals. General Purpose for which Bonds were Issued. 1916 Totals (including Estimates). $3,612,000 00 2,000 00 5,835 00 152,027 46 889,486 20 264,060 98 154,258 71 3,700 00 54,834 51 109,150 00 278,196 80 321,357 51 321,298 34 57,717 14 125,953 57 11,750 00 10,243 70 226,042 40 90,433 33 246,000 00 2,146,443 70 147.368 74 51,675 23 109,908 30 $9,391,741 62 $9,300,000 00 $9,125,CCO 00 266,741 62 $9,391,741 62 Public Service Commission Bronx Parkway Commission Board of Elections $69,900 93 Borough President, .Manhattan 33,000 00 Borough President, The Bronx 9,429 96 Borough President, Brooklyn 32,596 57 Borough President, Queens 7,100 00 Borough President, Richmond Removal of Snow and Ice Fire Department Courts, District Attorneys and Sheriffs Register, Bronx County i County Clerks — New York, Bronx, Kings, j J Queens and Richmond J Bellevue and Allied Hospitals Department of Public Charities Police Department and Corrections f Docks and Ferries ; Water Supply ; Health ; 1 ■{ Street Cleaning ; Tenement House ; }■ L Bridges; Taxes and Assessments J Department of Parks Department of Education and Libraries Board of Aldermen and City Clerk Armory Board; City Record; Coroners County Charges and Expenses (Sundry) Rentals — City Offices Judgments Claims Elimination, etc., of Grade Crossings Miscellaneous Panama Exposition and Municipal Celebrations Board of Child Welfare ( Payment of Substitutes for Regular Employees ) \ ordered away on Military Duty f TOTALS Original Estimate for 1916 BUDGET APPROPRIATION in 1916 BUDGET From Special Revenue Bonds for Claims $58,500 00 14,000 00 19,115 00 72,508 46 13,338 00 $3,730,016 67 225,507 11 APPROPRIATION to be included in 1917 BUDGET 177,461 46 2,066,929 81 297,563 35 63,105 29 3,415 00 200,643 48 369,058 25 150,167 99 720,127 92 66,171 20 30,240 00 53,481 00 44,215 33 122,600 00 4,800 00 429,000 00 738,146 38 31,236 80 141,112 95 300,000 00 35,000 00 $10,000,000 00 $10,000,000 00 $10,000,000 00 M. B. Brown Printini; & Binding Co, New York