28 EIGHTEENTH REPORT. 



nieiits are not expenses. They are like bonds paid above. The cash 

 l)aid for them has been converted into goods or benefits which 

 we have at the end of the year. If you have a thing at the end, 

 it can not be a cost, for costs are sacrifices and here you have 

 sacrificed nothing. You have merely converted it. The rest of the 

 items are expenses and total to |49,661.93 making a net operating 

 profit of $82,675.72. To get the profit belonging to the city, we 

 must next subtract the Interest on Bonds or |18,049, which leaves 

 a net income of 164,626.72. It is impossible to tell whether these 

 are all the expenses or more than the expenses for we have only 

 cash paid to go by. Some of the fuel used this year may have been 

 paid for the preceding year and so have been left out of our calcula- 

 tions. On the other hand, some of the fuel bought this year may 

 not be used till next. It is impossible to tell, so we will assume 

 that the expenses omitted equal approximatelj' the items included 

 which are not expenses. 



The Eevenue and Expense Statement is as follows : 



Revenues. 



Water rates .^306,.352 62 



Value of water furnished the city 25,500 00 



Plumbers' licenses 150 00 



Miscellaneous 335 03 



Total revenue |132,337 65 



Operating Expenses. 



Salaries $17,371 90 



Repairs to mains 460 21 



Repairs to hydrants 1,082 61 



Tools and utensils — replacements 495 33 



Supplies and repairs to stations 5,583 32 



Fuel 12,319 77 



Barn expense 1,987 94 



Repairs to service 1,575 56 



Office expense 1,131 27 



Miscellaneous repairs 974 94 



Insurance 190 77 



Miscellaneous expense 2,156 23 



Reconstruction 4,332 08 



Total operating expenses ^40,661 93 



