38 Chicago Bureau of Public Efficiency 



3 per cent, accounts have since been diminished to an aggregate 

 of $190,000 and $200,000 has been invested in 4 per cent, 

 securities. 



During 1907 and 1908 the West Park Board received 2>4 

 per cent, on all deposits, but since January 1, 1909, only 2 per 

 cent, has been received, with the exception that $50,000 of the 

 proceeds from the sale of the million dollar bond issue in 1911 

 has been left with the purchaser (a local bank) at 3 per cent, 

 interest. It would seem that a larger amount might have been 

 left on deposit at 3 per cent. 



The County Treasurer as ex-officio town supervisor is cus- 

 todian of the money realized from the sale of small park bonds 

 for the Lincoln Park Board and also of the annual tax money 

 levied for small park maintenance in the towns of North Chi- 

 cago and Lake View. No interest is received by the Park Board 

 on this money. 



The South Park Board not only receives more revenue an- 

 nually than the West or Lincoln Park Boards, but, by virtue 

 of a special arrangement with the County Treasurer (collector 

 of taxes) it receives from him a definite amount of its taxes 

 regularly each month. After making allowance to provide for 

 payment of bonds and interest when due, the Park Board with 

 the approval of the County Treasurer prorates the balance of 

 the South Park levy over each month and a draft for the pro- 

 rated amount is drawn on the County Treasurer by the park 

 officials the first of each month. This method deprives the Park 

 Board of a part of the interest received by the County on de- 

 posits of the park taxes, since most of the taxes are collected 

 early in the year, but still gives the South Park Board an ad- 

 vantage over the West and Lincoln Park Boards in this respect. 

 These two Boards receive their taxes only when, and in such 

 amounts as may be needed and when request is made of the 

 County Treasurer, The Secretary of the West Park Board goes 

 in person to the County Treasurer from time to time and obtains 

 a check for the amount needed. This method keeps the cash 

 balances in the hands of the West and Lincoln Park Board 

 Treasurers comparatively small and enables the County to bene- 



