LOCAL GOVERNMENT AND TAXATION 43 



(Table 7). Towns and cities rank second with 32.7 percent, school 

 districts third with 13.7 percent, counties fourth with 9.2 percent, 

 and precincts last with only 3.2 percent. 



The bonded indebtedness of counties, towns, and cities, and 

 school districts amounted to $32.39 for each person in the state, and 

 to 2.9 percent of the assessed valuation of taxable property (Table 

 8). The bonded indebtedness of towns and cities alone amounted to 

 $19.29 per capita, and to 1.72 percent of the assessed valuation. The 

 respective figures for school districts are less than half those for towns 

 and cities, and those for counties are about one-fourth. 



Table 8. Bonded Indebtedness per Capita, and as Percent of Taxable Wealth, 

 FOR Counties, Towns and Cities, and School Districts 



ACCOUNTING, REPORTING, AND AUDITING 



Towns 



The town treasurer is the custodian of all town funds, but the 

 receiving of such moneys from the public in the first instance is de- 

 centralized among several town officials. The town tax collector is 

 responsible for the collection of property, poll, and national bank 

 stock taxes. He is required on the first Saturday of each month to 

 turn over to the treasurer all money collected up to that time. The 

 town clerk collects dog license fees and after retaining 20 cents for 

 each license issued pays the balance to the treasurer not later than 

 June 1. He also collects motor vehicle fees and once each month 

 he is required to pay the entire amount collected to the treasurer, 

 who upon order of the selectmen reimburses the clerk at the rate of 

 25 cents for each fee collected. Miscellaneous money due the town, 

 including such items as receipts from the sale or rent of town property 

 and from services rendered individuals by the highway department, 

 is sometimes paid directly to the treasurer but more frequently to the 

 selectmen who are required to transfer their collections immediately 

 to the treasurer. 



Each order of the selectmen is an order for the treasurer to pay 

 a claim against the town. The bottom section of the order sheet is 

 the bank check which is signed by the selectmen and countersigned 

 by the treasurer. The top section of the order sheet is commonly 

 called the "selectmen's stub" and contains a classified list of town 

 payments. These stubs are retained by the selectmen and are the 

 basis for the selectmen's classified record of payments. 



