Biennial report of the Treasurer of North Carolina |
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Clje Lifttarp of tf)E Onitjerisitp of Jl^ortb Carolina Collection ot Bottii Caroliniana C35G UNIVERSITY OF N.C. AT CHAPEL HILL 00033968172 This book must not be taken from the Library building. ocn REPORT OF THE TREASURER OF NORTH CAROLINA FOR FISCAL YEARS ENDING JUNE 30, 1931 AND 1932 JOHN P. STEDMAN State Treasurer Presses of Edwards & Broughton CoiiPANT State Printers 1932 STATE TREASURER'S REPORT For Fiscal Years Ending June 30, 1931, and June 30, 1932 CONTENTS Page Alphabetically Arranged Comparative Receipts and Disbni'sements 30 Consolidated Statement—Two Fiscal Years Ending June 30, 1932 8 Consolidated Statement—Fiscal Year Ending June 30, 1931 9 Consolidated Statement—Fiscal Year Ending June 30, 1932 19 Disbursements—Fiscal Year Ending June 30, 1931 31 Disbursements—Fiscal Year Ending June 30 , 1 932 24 Letter of Transmittal 5 Public School Building Loans from Bond Issues 35 Public School Building Loans—Literary Fund 37 State's Investment in Railroads 38 State Sinking Funds 39 State Debt 42 Treasurers of North Carolina 4 PUBLIC TREASURERS OF NORTH CAROLINA From To Richard Caswell, Northern District. . . 1775 1777 Samuel Johnston, Southern District .. . 1775 1777 Memucan Hunt 1777 1787 John Haywood 1787 1827 William S. Robards 1827 1830 William S. Mhoon 1830 1835 Samuel T. Patterson 1835 1837 Daniel W. Courts 1837 1839 Charles L. Hinton 1839 1843 John W. Wheeler 1843 1845 Charles L. Hinton 1845 1851 Daniel W. Courts 1851 1863 Jonathan Worth 1863 1865 Jonathan Worth, Provisional Treasurer June 12, 1865 Nov. 16, 1865 William Sloan Nov. 16, 1865 Jan. 1, 1866 Kemp P. Battle Jan. 1, 1866 July 8, 1868 David A. Jenkins July 8, 1868 Nov. 22, 1876 Jno. M. Worth Nov. 22, 1876 Jan. 21, 1885 Donald W. Bain Jan. 21, 1885 Nov. 16, 1892 Samuel McD. Tate Nov. 16, 1892 Jan. 23, 1895 William H. Worth Jan. 23, 1895 Jan. 15, 1901 Benjamin R. Lacy Jan. 15, 1901 Feb. 21, 1929 Nathan O'Berry Feb. 23, 1929 Jan. 6, 1932 John P. Stedman Jan. 7, 1932 STATE OF NORTH CAROLINA Raleigh Treasury Department November 12, 1932 Governor 0. Max Gardner, Raleigh, North Carolina. Sir: I submit herewith the report of the operations of the State Treasurer for the fiscal years ending June 30, 1931, and June 30, 1932, for trans-mittal to the General Assembly. The schedules of receipts and dis-bursements in this report I think are clear and need no explanation. The bonded dept of North Carolina as of November 12, 1932, is as follows: General Fund Bonds $ 46,787,000 Highway Bonds 108,287,000 Public School Building Bonds 15,335,000 World War Veterans Loan Bonds 2,500,000 Total $172,909,000 All of these obligations, with the exception of the General Fund Bonds, are taken care of by special payments and special taxes. For instance, the Highway Bonds are being paid by license and gasoline taxes; the Special School Building Bonds are being paid by repayment of loans by the counties; the World War Veterans Loan Bonds are being paid by veterans who have borrowed money from this fund. The last Legislature instructed the Highway Department to repay certain counties for highways built by those counties. There is due to these counties on account of the contracts entered into by the High-way Department $4,025,971. The State at present owes $12,502,371 on short time notes, $5,727,000 of this was loaned to the State by North Carolina Banks. This makes a total indebtedness of the State of $189,437,342. After studying the duties of this office, I make the follo\\ing recom-mendations : First, that the Legislature authorize the Treasurer to issue short P term serial bonds to cover the existing deficit and the deficit that T\dll J^ exist at the dnd of this fiscal year. l> JO Report of State Treastjree Second, that only bonds to fund the present deficit be issued. I do not think it is advisable to issue bonds for any permanent improve-ments at this time. Third, that Highway Funds and General Fund be combined. At present there are several funds. When there is a surplus in one fund and a deficit in the other fund, and when it is necessary to borrow money the combined funds are not considered by our creditors. The fund in which a deficit is shown is criticized by our creditors and a rate of interest for borrowed money is based on that particular fund and not on the combined fund. It is my opinion that a cheaper rate of interest can be obtained in borrowing money by a combined fund. In view of the fact that all the moneys in the State Treasury' belong to the State, the money should be used for a common purpose. I think a provision should be made that the revenues from the sale of auto-mobile license tags and gasoline taxes be first used to pay the debt service of the Highway Bonds, and any funds from these two sources of revenue after making these payments be used as the Legislature may provide by proper appropriations. Fourth, that the State not assume any additional burden of cost of local government. This is absolutely necessary if we are to finance our present deficit. I do not refer to fifteen cent ad valorem taxes. Fifth, that the collection of automobile license tags be December 1 instead of January 1. The State has large obligations to pay January 1. It is impossible to collect funds that are due January 1 in time to get the benefit of these collections. Sixth, that the Treasurer be appointed a member of each board in the State in which money is spent or allotments made, or which have the responsibility of gathering information or raising revenues. The Treasurer is the fiscal "agent of the State. He should be on boards, such as the Budget Commission, the Highway Commission, Tax Com-mission, and the Board of Equalization. This is necessarj- in order that the Treasurer could properly advise those boards of the financial condition of the State, and in order that he may be informed as to anticipated expenses and receipts. Seventh, that all appropriations of the State be put under the super-vision of the Director of the Budget. While during the past year a cut of an average of eight per cent shows on the legislative appropria-tions, the colleges, eleemosj^nary institutions and departments received a thirty per cent cut, because those appropriations and those alone could be reduced in order to adjust expenditures to income. Report of State Treasurer Eighth, that a revenue bill be enacted as early as possible and appropriations be made in order that the Treasury can take steps to repay the current short time borrowings. Ninth, that the rate of interest for State funds in State banks be reduced. The present rate that banks in North Carolina are paying for State's funds is 2}4% on daily balances. These funds are all secured. I think the rate is entirely too high, considering that the funds are secured. In closing, I desire to express my sincere appreciation, first, to the Governor of the State, O. Max. Gardner, for his cooperation. It would have been impossible to borrow the amount of money that the State has been able to borrow except for his leadership and assistance. His foresight as Director of the Budget in curtailing the appropriations during his administration is responsible in a large measure for the ability of the State to borrow. But for his firm stand for economy in making these drastic cuts, I believe it would have been impossible for the State to continue on a cash basis. To no man is the State more deeply indebted. Second, I wish to acknowledge with deep gratitude the assistance of the North Carolina banks who so generously came to the aid of the State in making loans to the State at this time. Third, may I not acknowledge with deep gratitude the assistance that has been rendered me since the short time I have been in office by the force in the Treasury Department. I am firmly convinced that there is no more loyal force in the employment of the State govern-ment. I am especially indebted to Major W. F. Moody, Deputy Treasurer, who on account of his years of experience in his present office, has been of invaluable assistance to me. Respectfully submitted, John P. Stedivlin, State Treasurer. Repoet of State Treasurer TREASURY DEPARTMENT CONSOLIDATED COMBINED STATEMENT Receipts and Disbursements toe two Fiscal Years Ending June 30, 1931 , and 1932 Receipts CaBh Balance July 1, 1930 $ 12,958,200.64 General Fund: Tax Revenue: Schedule "A" Inheritance Tax $ 1,4£6,380.70 Schedule "B" License Tax_- 3,689,335.11 Schedule "C" Franchise Tax 11,358,809.76 Schedule "D" Income Tax.. 13,388,081.54 Ad Valorem and Poll Tax.. 3,354,293.36 Miscellaneous 479,261.86 Non Tax Revenue 2,431,224.19 $36,197,386.52 Departments and Institutions.... 10,972,319.22 $47,169,705.74 Special Funds: Tax Revenue 51,403,073.59 Non Tax Revenue.. 9,360,488.60 Surplus Cash Investment 1,013,781.75 61,777,343.94 Debt Service Transfers 16,587,853.05 $78,365,196.99 125,534,902.73 Bond Sales, Note Sales and Renewals 29.009,371.00 $167,502,474.37 Disbursements General Fund: Departments, Boards and Commissions.-.. 4,518,822.36 Judiciary 762,739.49 I^egislature 247,284.53 Pensions 1,892,146.23 Public Schools 23,619,258.79 Educational Institutions 11,418,779.93 Charitable Institutions 2,866,882.94 Correctional Institutions 2,935,181.26 48,261,095.53 Debt Service 6,621,957.04 Refunds 471,215.13 Sinking Fund Contributions 585,910.00 55,940,177.70 Special Funds: Departments 1,683,659.08 Highways 57,581,701.91 Surplus Cash Investments 1,021,781.75 Permanent Improvements 2,618,394.83 Public School Loan Fund 874,604.75 Veterans Loan Fund 900,047.35 Sinking Fund Investments 3,499,525.82 Debt Service 16,631,896.67 84,811,612.16 Fund Transfers 2,121,900.37 86,933,512.53 142,873,690.23 Notes Paid and Renewed - 16,400.000.00 Cash Balance June 30, 1932 - 8,228,784.14 $167,502,474.37 Report of State Treasurer TREASURY DEPARTMENT CONSOLIDATED STATEMENT Receipts and Disbuhsements Fiscal Year Ending June 30, 1£31 Receipts Cash Balance July 1, 1930 S 12,958,200.64 General Fund: Tax Revenue: Inheritance Tax, Schedule "A" $ 1,013,828.85 License, Schedule "B" 1,333,688.70 Franchise, Schedule "C"—. 4,688,907.62 Income, Schedule "B" 6,128,677.03 Miscellaneous 385,045 .22 Non Tax Revenue 1,063,065.95 514,613,213.37 Departments and Institutions 5,778,044.13 820,391,257.50 Special Funds: Tax Revenue 25,748,193.17 Non Tax Revenue 4,318,265.22 Surplus Cash Investments 1,013,781.75 31,080,240.14 Debt Service Transfers 7,463,468.19 38,543,708.33 58,934,965.83 Bond Sales, Note Sales and Renewals 16,807,000.00 Total Receipts $ 88,700,166.47 Disbursements General Fund: Departments, Boards and Commissions 2,531,639.64 Judiciary.- 389,434.90 Legislature 234,571.52 Pensions 930,983.73 Education 12,657,336.51 Charitable and Correctional Institutions- 3,054,825.59 19,798,791.89 Debt Service 3,235,820.65 Refunds 106,314.73 Sinking Fund Contributions 319,190.00 23,460,117.27 Special Funds: Departments 736,801.22 Highways 28,732.742.57 Permanent Improvements-.. 969,131.57 Public School Building Loans 764,378.28 Veterans Loan Fund - 226,031.15 North Carolina Park Fund 1,171,688.59 Surplus Cash Investments 1,013,157.16 Sinking Fund Investments 2,397,046.20 Debt Service 7,931,750.42 43,942,727.16 67,402.844.43 Notes paid and renewed 12,600,000.00 Cash Balance June 30. 1931 8,697,322.04 Total Disbursements- $ 88,700,166.47 10 Report of State Treasurer report of state treasurer Receipts foe Fiscal Year Ending June 30, 1931 Balance July 1. 1930 $ 12,958,200.64 General Fund: Tax Revenue: Blue Sky (Capital issue).... % 16,211.89 Corporation Tax State Department 73,020.76 Fees: Attorney General $ 520.00 Executive Department 6,957.55 Insurance Department 16,205.10 State Department 1,071.95 24,754.60 Bus Tag Tax: Income Tax 6,128,677.03 Inheritance Tax.... 1,013,828.85 Interest on Bank Balances 260,683.77 Seal Tax: Governor s Office. 7,608.00 State Department. _. 343.00 7,951.00 Schedule "B" Miscellaneous License 1,333,688.70 Schedule "C" Franchise, etc . 4,688,907.62 Trade Mark Registration 213.90 Penalties State Department 2,209.30 Total General Fund Revenue SIS, 550, 147.42 Non Tax Revenue: Railroad Dividends: Atlantic & N. C. R. R._.. 44,331.00 North Carolina R. R 210,014.00 254.345.00 Spanish American War Balance 17,637.46 Books, Sale of: Laws and Journals 625.12 Supreme Court Reports... 8,225.08 8,850.20 Collected for General Fund from .Special Funds: Gasoline and Oil Inspection. 742,233.29 Highway Maintenance 40,000.00 782,233.29 Refunds: Attorney General S 192.40 Auditor's Department 3,021.34 Bond Sale, Expense of 6,719.90 Board of Charities and Pub-lic Welfare 28.35 Budget Bureau 3,000.00 Fugitive from Justice 5.00 Governor's Mansion 15.68 Governor's Office 65.00 Historical Commission 495.61 National Guard... 7,413.37 N. C. Corporation Commis-sion 284.15 N. C. Library Commission.. 299.39 Pensions.. 315.00 Public Buildings and Grounds 16,394.45 Report of State Treasurer 11 Revenue Department S 78.77 State Library 417.17 Tax Commission... 4.10 Tax Reduction Fund 8,489.67 Vocational Education In-dustrial Rehabilitation 347.72 $ 47,577.07 Total General Fund Non Tax Revenue $ 1,110,643.02 Departments and Institutions carried in General Fund: Appalachian State Teachers College... 107,120.25 Board of Education 6,446.66 Caswell Training School 4,284.51 Cherokee Indian Normal School 5,645.73 Conservation and Development 363,724.96 Division of Coastal Fisheries 48,621.90 East Carolina Teachers College 232,467.04 East Carolina Industrial Training School 50.00 Elizabeth City Normal School 29,004.75 Fayetteville Normal School 33,518.24 Home Industrial School for Girls 1,838.67 Industrial Farm Colony for Women 211.87 Insurance Department 18,715.09 Morrison Training... 944.21 Negro A. & T. College. 68,179.44 N. C. College for Women 708,021.31 N. C. A. & E. College 927,066.85 N. C. School for Deaf 8,532.23 N. C. School for Deaf and Blind... 13,521.93 N. C. College for Negroes 37,535.24 N. C. Board of Health 99,325.83 N. C. Industrial Commission 22,885.91 Orthopaedic Hospital 2,038.37 Public Printing and Supplies 57,428.67 State Hospital, Goldsboro 16,981.09 State Hospital, Morganton 14,969.12 State Hospital, Raleigh 43,444.37 State Prison 1,037,035.44 Stonewall Jackson Training School 3,344.86 Tuberculosis Sanatorium 147,610.57 Tuberculosis Sanatorium Extension 956.57 148,567.14 University of North Carolina 1,511,104.16 Vocational Education 38,019.20 Western Carolina Teachers College 69,006.53 Winston-Salem Teachers College 50,865.49 Total Receipts Departments and Institutions 5,730,467.06 Total General Fund Including Departments and Institutions ? 20,391,257.50 Special Funds; Tax Revenue: Agricultural Department 375,450.14 Banking Department 52,026.17 Highway Funds: Automobile License 6,260,019.80 Gasoline Tax 12,997,358.49 Miscellaneous Receipts Maintenance 411,112.50 Jliscellaneous Receipts Construction 5,481.073.34 12 Report of State Treasurer Tolls Cape Fear River Bridge $ 95,970.25 Tolls Chowan River Bridge 75,182.48 $25,320,716.86 Total Special Tax Revenue S 25,748.193.17 Non Tax Revenue: Bua Depository... 2,09,^80 Civil Engineers and Land Surveyors 2,601.50 County School Attendance Fund 20.50 Federal Funds; Forest Reserve 10,074.04 N. C. A. & E. College 33,500.00 Negro A. & T. College.... 16,500.00 60,074.04 Land Titles Assurance of 75.32 Insurance Department 43,055.42 Interest Accrued and Pre-mium from Bond Sales: General Fund Bonds 4,206.50 Highway Construction Bonds 1,240.00 Cape Fear River Bridge Bonds 14,554.17 20,000.67 Motor Vehicle Bureau 135.00 N. C. Real Estate Commission 4.304.80 N. C. Fair 71,449.91 Rockefeller Funds: Negro Welfare 3,900.00 School Attendance Fund.- 1,377.30 5, 277. .30 Rodman Trust Fund 1,681.00 Rosenwald Negro Welfare Fund 100.00 Sinking Funds: State Highway No. 1 139,349.14 State Highway No. 2 756,726.08 Public Sch. Bldg. No. 3... 42,731.33 Public Sch. Bldg. No. 4._. 69,797.36 Charitable & Edu. No. 5.. 249,042.89 Charitable & Edu. No. 6.. 101,881.77 Charitable & Edu. No. 7-. 109,436.32 1,468,964.89 County Loan Trust (S) Fund 84,233.77 Building Funds, Fire, Loss, etc.: E. Carolina Training Sch... .500.00 Elizabeth City Normal Sch. 500.00 N.C. Sch. for Blind, Raleigh 1,017.34 Negro A. & T. College i0,865.13 State's Prison _ 7,500.00 State Hospital, Goldsboro.. 42.06 State Hospital, Morganton 352.00 Stonewall Jackson Tr. Sch.. 13,132.16 University of N. C 67,913.78 W. Caro. Teachers College. 3,994.46 N. C. School for Deaf.. 2.50.00 N. C. College for Negroes... .500.00 106,566.93 State Board of Education: Loans for Bldg. Sch. Houses. 270 , 246 . 22 Sale of Swamp Lands 2,018.70 272,264.92 Report of State Treasurer 13 State Warehouse System $ 58,369.67 Weights and Measures 2,895.00 World War Veterans Loan Fund 224,097.33 Transfer for Motor Vehicle Bureau. 468,047.12 Public School Building Loans: Payment Loans Laws 1921.. 358,183.49 Payment Loans Laws 1923.. 359,397.90 Payment Loans Laws 1925.. 471,837.61 Payment Loans Laws 1927.. 232,535.33 1,421,954.33 Total Non Tax Special Fund Receipts $ 4,318,265.22 Surplus Cash Investments 1,013,781.75 Total Special Fund Receipts $ 31,080,240.14 Debt Service Transfers: Highway Interest 4,873,777.92 Chowan River Bridge Interest 23,375.00 Cape Fear River Bridge Interest 12,395.83 Public School Building Interest 316.000.00 Veterans Loan Interest 75,319.44 Highway Bond Redemption 2,162,600.00 7,463,468.19 Bond Sales: Education and Charitable Institutions Permanent Improvement Laws 1927 4,307,000.00 Cape Fear River Bridge 1,250,000.00 Highway Construction Bonds 4,000,000.00 9,557,000.00 Note Sales and Renewals 7,250,000.00 Total All Receipts $ 88,700,166.47 Disbursements for Fiscal Yeah Ending June 30, 1931 General Fund Disbursements: Administration Departments, Boards and Commissions: Aycoclj Statute ? 2,250.00 Board of Elections 13,220.91 Board of Charity and Public Welfare: Administration. S 34,479.95 Child Welfare Commission.. 25,733.56 Mothers' Aid 44,079.38 104,292.89 Budget Bureau 59,114.57 Bureau of Labor and Printing 32,835.19 County Advisory Commission 11,897.39 Conservation and Develop-ment Administration 482,375.22 Division of Coastal Fisheries 50,581.47 532,956.69 Division of Purchase and Contract 861.05 Division of Personnel j 730.51 Gasoline and Oil Inspection 66,583.30 Historical Commission 28,339.44 Insurance Department 106,823.69 Local Government Commission 7,102.34 Fire Protection Smoky Mountain National Park 1 ,321 .02 National Guard 163,890.59 N. C. Board of Health: .\dministration : 472,296.25 Orthopaedic Clinics 8,000.00 480,296.25 14 Report of State Treasurer N. C. Library Commission $ 19,815.38 N. C. Industrial Commission 78,858.33 N. C. Corporation Commission: Administration 51,311.01 Special Rate Work 21,159.29 72,470.30 Public Buildings and Grounds: Capital and Caswell Squares 117,598.22 Gov.'e Mansion and Grounds 11 , 195 .86 128,794. Public Printing and Supplies 54,860.78 Revenue Department 224,393.74 Salary and Wage Commission.. 2,742.93 State Library 9,764.48 Transportation Commission 693.79 Tax Commission. 28,464.25 S 2,233,403.89 Contingency and Emergency: Bonds Expense of Sale 11,927.17 Funeral Expenses... 35.40 Sinking Fund Commission 5,929.78 National Guard Special Duty 431.92 18,324.27 Executive Departments: Auditor's Department 48,393.70 Attorney General 18,084.85 Department of Education 121,589.64 Executive Council 10,609.77 Governor's Office 20,577.16 State Department .- 21,830.60 Treasury Department 32,765.27 273,850.99 Judiciary: Judicial Conference 391.30 Supreme and Superior Courts 376,458.56 Supreme Court Reports 12,485.04 Uniform Laws Conference 100.00 389,434.90 Legislature: General Assembly... 234,571.52 Pensions: Soldiers and Widows 918,839.50 Inmates Soldiers Home 366.00 Disabled Soldiers. 7,377.50 W. T. Reaves 900.00 I. C. Blair 600.00 Olivia B. Grimes 650.00 Pension Investigation, M. W. Gantt.... 2,250.73 930,983.73 State Aid and Subsidies: Bennett Memorial 50.00 Confederate Cemetery 500.00 Confederate Museum 250.00 Firemen's Relief Fund: Volunteer Ass'n White 1,875.00 Volunteer Ass'n Colored. . 625 .00 2 , 500 . 00 Fugitives from Justice Spanish American War Veterans. Tubercular Cattle 1,465.55 72.50 1,222.44 6,060.49 Report of State Treasurer 15 Debt Service: Interest: 4% Bonds .- $250,794.00 414% Bonds 457,130.00 43^^% Bonds 498,577.50 4M% Bonds 360,168.75 5% Bonds 368,050.00 Short Term Notes 203,100.40 $2,137,820.65 Bond Redemption: 4% Funding Bonds.. 100,000.00 4M% Debit Balance Bonds 998,000.00 1,098,000.00 $3,235,820.65 Educational, Charitable and Correctional Institutions: Education: Appalachian Teachers Col. 155,802.54 Cherokee Indian Nor. Sch. 28,438.81 E. Caro . Teachers College. 385 , 599 . 36 N.C. College for Women_. 1,057,605.59 N. C. School for Deaf 119,599.91 N. C. School for Blind.... 128,352.40 N.C. College for Negroes.. 79,219.54 Negro A. & T. College.... 120,226.29 Normal School, Fayette-ville 5,992.38 Normal School, Elizabeth City 56,437.47 State College of A. & E._. 1,441,168.63 University of N. C 2,197,400.48 W. Caro. Teachers College 122,427.60 Winston- Salem Teachers College 86,990.66 Total Educational 6,045,261.66 Public Schools: Equalizing Fd. to Counties 6 , 353 , 819 . 28 Farm Life Schools 16,660.00 Rural Libraries 6,500.00 Teachers Training _. 40,226.24 Vocational Education Re-habihtation 14,508.35 Vocational Education 180,360.98 Total Public Schools 6,612,074.85 Charitable Institutions: Caswell Training School-. 141,206.40 Conf. Women's Home 11,699.08 Orthopaedic Hospital 98,015.61 Oxford Orphanage, White. 30,000.00 Oxford Orphanage, Colored 27,500.00 Soldiers' Home 32,529.48 State Hospital, Goldsboro 228,065.09 State Hospital, Morganton 321 , 944 .60 State Hospital, Raleigh... 375,217.81 Tuberculosis Sanatorium. 290,816.06 Total Charitable Institutions 1,556.994.13 16 Report of State Tbeasurer Correctional Institutions: E. Caro. School for Boys. $ 37,416.37 Efland School for Women. 2,000.00 Training School for Girls-- 87,911.39 Farm Colony for Women-- 15,891.02 Morrison Training School- 32, 126.87 Jackson Training School.- 124, 907 . 10 State Prison 1,197,578.71 Total Correctional Institutions $ 1,497,831.46 Total Educational, Charitable and Correctional Institutions $15,712,162.10 Refunds: Revenue Department: Inheritance Tax --- 21,667.41 Licenses 21,335.18 Franchises 10,604.00 Income 51,313.29 104,919.88 State Department: Corporation Tax 991.65 Fees and Seals 14.20 Trade Mark Registration 1.00 1,006.85 Executive Department: Fees 15.00 Seals 15.00 30.00 Insurance Fees . 358.00 106,314.73 Sinking Fund Contribution -- 319,190.00 Total General Fund Disbursements including institutional, departments and com-missions income % 23,460,117.27 Special Funds Disbursements: Agriculttu-al Department: Administration 428,925.27 Weights and Measures 3,449.12 432,374.39 Automobile Funds: Highway Maintenance 16,801,118.01 Motor Vehicle Bureau Exp. 412,844.01 Highway Construction-... 11,441,705.16 28,655,667.18 Banking Department 54,991.26 Bus Depository Account 3,568.30 Civil Engineers and Land Surveyors 2,628.81 Insurance Department 41,834.79 N. C. Real Estate Commission 6,163.78 N. C. State Fair 85,503.17 Rodman Trust Fund 1,560.00 Rosenwald Negro Welfare Fund 554.27 29,284,845.95 Federal Funds: State College A. & E.. 33,500.00 Negro A. & T. College 16,500.00 Forest Reserve Fund 10,074.04 60,074.04 Report of State Treasurer 17 Rockefeller Funds: School Attendance $ 2,192.83 County School Attendance 33.93 Negro Welfare 3,974.17 $ 6,200.93 Interest and Bond Curtail: Interest: Highway Notes _... 104,032.92 Chowan River Bridge— 23,098.75 Highway - 4,408,223.75 Public School 668 , 601 . 25 Veterans Loan... 79,793.75 5,283,750.42 Bonds Paid: Public School Building Bonds 498,000.00 Highway Construction Bonds 2,150,000.00 7,931,750-42 Permanent Improvements: Appalachian Teachers College 21,535.03 Caswell Training School 8,552.43 Eastern Carolina Teachers College 82,705.53 Eastern Carolina Industrial School-- 7,336.50 Home Training School for Girls and Women. 1 1 , 024 .69 Industrial Farm Colony for Women 7,325.72 Inland Waterway 11,904.27 Morrison Training School 2,813.06 North Carolina College for Women 43,020.69 North Carolina College for Negroes 7,057.35 Negro A. & T. College 130,444.68 Elizabeth City Normal School 70.80 Cherokee Indian Normal School 13,298.18 North Carolina School for Deaf 3,629.97 North Carolina School for Deaf and Blind. 212,377.38 Orthopaedic Hospital 94.34 State A. & E. College 21,439.25 State Hospital, Goldsboro 703.42 State Hospital, Morganton 23,994.94 State Hospital, Raleigh 21,973.73 State's Prison 1,702.89 Stonewall Jackson Training School 13,541.37 Smoky Mountain Park 1,171,688.59 Tuberculosis Sanatorium 11,413.81 University of North Carolina 245,790.06 Western Carolina Teachers College 65,360.11 Winston-Salem Teachers College 21.37 2,140.820.16 State Warehouse System 41,347.48 Surplus Investment Account 1,013,157.16 World War Veterans Loans: Bureau Maintenance 22,381.21 Loans made 118,010.00 Interest 85,639.94 226,031.15 Board of Education: Literary Fund: Loans for Building School Houses 271 ,000.00 Salaries and Expenses 10,578.13 281,578.13 18 Report of State Treasurer Sinking Fund Investments: Highway No. 1 — $ 239,205.69 Highway No. 2 1,154,291.69 Public School No. 3 28,041.49 Public School No. 4 15,659.34 Edu. and Char. Inst. No. 5 413,034.31 Edu. &Char. Inst.No.e.. 143,908.39 Edu. and Char. Inst. No. 7 117,255.92 $2,111,396.83 County Loan Fund No. 8 285,649.37 §2,397,046.20 State Public School Building Loans: Re-loaned under Laws 1925 8,878.61 Interest - 215,650.00 Re-loaned under Laws 1927 148,240.79 Interest - 103,959.00 Refunds—Laws 1923 2,773.75 Refunds—Laws 1921 3,388.00 482,800.15 Fund Transfers to pay Interest and Note Curtail: Cape Fear River Bridge 51,641.98 Chowan River Bridge- 25,433.41 77,075.39 Total Special Fund Disbursements S 43,942,727.16 Notes Paid and Renewed. 12,600,000.00 Cash Balance June 30, 1931 8,697,322.04 Total all DisbursementB.-.- -. $ 88,700,166.47 Report of State Treasurer 19 treasury department consolidated statement Receipts and Disbursements Fiscal Year Ending June 30, 1932 Receipts Cash Balance July 1, 1931.— - - $ 8,697,322.04 General Fund: Tax Revenue: Schedule "A" Inheritance Tax.S 482,551.85 Schedule "B" License Tax 2,355,646.41 Schedule "C" Franchise Tax... 6,669.902.14 Schedule "D" Income Tax 7,259,404.51 Ad Valorem and Poll Tax 3,354,293.36 Miscellaneous .., 94,216.64 Non Tax Revenue 1,368,158.24 $21,584,173.15 Departments and Institutions 5,194,275.09 $26,778,448.24 Special Funds: Tax Revenue 25,654,880.42 Non Tax Revenue 5,042,223.38 30,697,103.80 Debt Service Transfers. 9,124,384.86 39,821,488.66 $66,599,936.90 Bond Sales, Note Sales and Renewals 12,202,371.00 $ 87,499,629.04 Disbursements General Fund: Departments, Boards and Com-missions S 1,987,182.72 Legislature 12,713.01 Judiciary 373,304.59 Pensions 961,162.50 Educational Institutions 5,373,518.27 Charitable Institutions 1,309,888.81 Correctional Institutions 1,437,349.80 Public Schools 17,007,183.94 28,462,303.64 Debt. Service 3,386,136.39 Refunds 364,900.40 Sinking Fund Contribution 266,720.00 32,480,060.43 Special Funds: Departments 955,482.45 Highways 28,848.34 Permanent Improvements 477,574.67 Public School Loan Fund 110,226.47 Veterans Loan Fund 674,016.20 Sinking Fund Investments 1,102,479.62 Debt Service 8,700,146.25 40,868,885.00 Fund Transfers 2,121,900.37 42,990,785.37 75,470,845.80 Notes Paid and Renewed 3,800,000.00 Cash Balance June 30. 1932 8,228,784.14 $ 87,499,629.94 20 Report of State Treasurer REPORT OF state TREASURER Receipts for Fiscal Year Ending June 30, 1932 Cash Balance July 1, 1931.. - $ 8,697,322.04 General Funds: Tax Revenue: Blue Sky Taxes $ 8,820.38 Bus Tag Tax 161.50 Corporation Tax State Department 56,439.16 Fees: Attorney General $ 260.00 Executive Department 6,192.00 Insurance Department 14,425.10 State Department 273.30 21,1.50.40 Seal Tax: Governor's Office 6,670.75 State Department 100.00 6,770.75 Schedule "A" Inheritance Tax --- 482,551.85 Schedule "B" License Tax 2,3.55,646.41 Schedule "C" Franchise Tax 6,669,902.14 Schedule "C" Income Tax 7,2,59,404.51 State Public Schools: Ad Valorem Tax 3,136,391.55 Dog Tax 43.54 Poll Tax 217,858.27 3,354,293.36 Penalties State Department 600.00 Trademark Registration. 274.45 Total General Fund Tax Revenue $20,216,014.91 Non Tax Revenue: Board of Accountancy 76.83 Board of Heating and Plumbing Examiners... 649.55 Books, Sale of: Laws and Journals 1,894.69 Supreme Court Reports 6,335.26 8,229.95 Railroad Dividends: Atlantic & N. C. R. R 44,331 .00 North Carolina R. R --.. 210,014.00 254,345.00 Interest on Bank Balances 148,468.22 State Hospital, Morganton Rev. Receipt... 10,668.82 State Prison Revenue Receipts 212,323.10 Collected for General Fund from Special Fund: Gasoline Inspection 647,302.28 Oil Inspection 86,094.49 733,396.77 Refunds: Attorney General 115.50 Auditor's Department 2,536.50 Aycock Statute 22.68 Bond Sale Expense 2,568.60 Board of Charities and Public Welfare 18.66 Budget Bureau 2,624.60 Contingency and Emergency Fund 2,250.73 Report of State Treasurer 21 Division of Standards and In-spection $ 96.50 Fugitives from Justice 67.65 Governor's Office.. 396.79 Governor's Mansion 50.30 Historical Commission 540.67 Industrial Rehabilitation 187.50 Local Government Commission 5 , 100 . 36 N. C. Corporation Commission 28.00 N. C. Library Commission 158.12 Pensions Disabled Soldiers 202.50 Public Buildings and Grounds. 17,330.34 State Library 244.05 Tax Commission 275.93 $ 34,815. Total General Fund Non Tax Revenue. t 1,402,974.22 Departments and Institutions carried in General Fund: Appalachian Normal School 104,961.75 Board of Education 23,434.96 Caswell Training School 3,969.69 Cherokee Indian Normal School 6,410.14 Confederate Women's Home 61.99 Department Conservation and Development: Fees. License and Miscellaneous 256,556.12 Division Coastal Fisheries 27 , 685 . 81 284 , 241 . 93 East Carolina Teachers College 191,184.70 East Carolina Training School. 50.88 Elizabeth City Normal SchooL... 23,684.47 Fayetteville Normal School 30,352.22 Home Industrial School for Girls 1,166.44 Industrial Farm Colony for Women 53.16 Insurance Department 22,558.86 Morrison Training School 280.34 Negro A. & T. CoUege 50,043.52 North Carohna Board of Health 71,946.08 N. C. A. & E. College: Administration 497,911.20 Agricultural Extension 331,687.11 829,598.31 N. C. School for Blind, Raleigh 8,379.50 N. C. School for Deaf, Morganton 6,091 .05 N. C. College for Negroes 34,835.48 N.C. College for Women 603,119.02 N. C. Industrial Commission 24,660.00 Orthopaedic Hospital 1,372.24 Public Printing and Supplies 37,011.97 State Board of Education 2,990.00 State Public Schools 163,827.70 State Department of Revenue 40 , 040 . 00 State Hospital, Goldsboro 9,600.86 State Hospital, Morganton 1,135.27 State Hospital, Raleigh 39,705.21 State's Prison 640,097.06 Stonewall Jackson Training School 4,226.15 Treasury Department 9.89 University of North Carolina: Administration 1,117,901.89 Service Plant 535,029.29 1,652,931.18 22 Report of State Treasurer Tuberculosis Sanatorium: Administration $ 144,382.96 Extension Work 262.69 $144,645.65 Vocational Education 4,095.00 Weights and Measures ., 550.00 Western Carolina Teachers College. 53,402.68 Winston-Salem Teachers College 42,733.76 Total Receipts Departments and Institutions $ 6,159,459.11 Total General Fund Including Departments and Institutions.. $ 26,778,448.24 Special Funds: Tax Revenue: Agricultural Department 279,028.66 Banking Department 56,366.83 Highway Funds: Automobile License 5,602,592.30 Gasoline Tax. 15,172,639.72 Miscellaneous Receipts 2,565,087.28 Highway Construction... 1,813,009.15 25,153,328.45 Tolls Cape Fear River Bridge.. 94,500.05 Tolls Chowan River Bridge.... 71,656.43 166.156.48 Total Special Fund Tax Revenue 25,654,880.42 Non Tax Special Fund Revenue: Bus Depository Account 5,805.00 Civil Engineers and Land Surveyors 2,304.00 Federal Funds: Forest Reserve 4,753.91 N. C. A. & E- College .33, .500. 00 Negro A. & T. College... _ 16,500.00 54,753.91 Governor's Council of Unemployment: Fund "A" 706.49 Fund "B" _-_. 3,102.51 3,809.00 Land Titles, Assurance of 54.75 Insurance Departn ent 37,456.81 Interest Accrued from Bond and Note Sales: General Fund Notes 1,471.82 General Fund Bonds. 1,511.11 Veterans Loan Bonds 1,888.89 4,871.82 Motor Vehicle Bureau Refunds 219.50 Department of Education 75,757.22 N. C. Real Estate Commission. 3,403.00 N. C. State Fair 57, 698. .50 Pension Refunds Soldiers and Widows 4,450.00 Pension Recovery State vs. Gantt 60,100.00 Rodman Trust Fund. 1,766.70 Salary Refunds 579.96 Surplus Cash Investment 8,000.00 Sinking Funds: Highway No. 1 456,431.73 Highway No. 2 322,846.68 Report of State Treasurer 23 Public School Building No. 3.. $ 94,039.38 Public School Building No. 4— 155,308.47 Education and Charitable No. 5 261,619.18 Education and Charitable No. 6 62,711.77 Education and Charitable No. 7 59,532.90 Public School Building No. 9.. 398,486.37 Chowan River Bridge No. 10-_ 94,812.93 Cape Fear River Bridge No. 11 84,665.88 $ 1,990,455.29 102,422.72 State Warehouse System 77,221.61 Building Funds, Fire Losses, etc.: Appalachian Teachers College. 623.95 E. Carohna Teachers College.. 6,520.45 Fayetteville Normal School 25,490.08 Home Industrial Sch. for Girls. 31,250.00 Indus . Farm Colony for Women 150.00 Morrison Training School 265.00 Negro A. & T. College 7,249.51 N. C. Sch. for BHnd, Raleigh.. 486.02 State's Prison 5,000.00 Stonewall Jackson Train. Sch.. 4,123.71 Tuberculosis Sanatorium 1,659.13 University of N. C 3,384.85 W. Carolina Teachers College. 1,997.23 88,199.93 State Board of Education: Loans for Bldg. School Houses. 277,497.32 Sale of Swamp Lands 547.00 278,044.32 Transfer for Motor Vehicle Bureau. 410,193.57 Public School Building Loans: Payment Loans Laws 1921 421,435.05 Payment Loans Laws 1923 461,975.00 Payment Loans Laws 1925 472,211.57 Payment Loans Laws 1927 229,173.75 1,584,795.37 189,860.40 Total Non Tax Special Fund Receints 5,042,223.38 ..$ 30,697,103.80 Debt Service Transfers: Highway Interest 4,760,0.52.50 22,312.50 Cape Fear River Bridge Interest-. 53,125.00 21.25 Public School Building Interest... 685,762.50 103,111.11 2,700,000.00 Chowan River Bridge Bond Redemption 50,000.00 Public School Bond Redemption. 750,000.00 9,124,384.86 Bond Sales: 500,000.00 State's Prison Bonds- 400,000.00 900,000.00 . 11,302,371.00 Total all Receipts .$ 87,499,629.94 24 Repokt of State Treasuber DiSBDRSEMEXTS FOR FiSCAL Year Ending Jcne 30, 1932 General Fund Disbursements: Administrative Departments, Boards and Commissions: Aycock Statue I 12,772.68 Board of Elections 5,935.74 Board of Charities and Public Welfare: Administration, $ 49,431.47 Mothers' Aid 43,351.50 92,782.97 Budget Bureau Bureau of Labor and Printing Child Welfare Commission Commission on University Consolidation Conservation and Development: Administration 306,884.43 Division of Coastal Fisheries. 45, 913 .29 28 925.48 16.45 680.01 9 356.37 352 797.74 Constitutional Commission 2 495.43 Department of Labor: Administration 25,060.35 Division Standards and In-spection 20,440.20 N.C. Industrial Commission. 63,966.32 109,466.87 Division of Purcha.se and Contract 22,555.90 Division of Personnel 12,234.13 Gasoline and Oil Inspection 57,139.65 Historical Commission 24,475.94 Insurance Department 97,056.23 Local Government Commission 45,758.41 Fire Protection Smoky Mountain Park 1,183.17 National Guard 78,402.53 N. C. Board of Health: Administration 334,948.70 Orthopaedic Clinics 6,000.00 340,948.70 N. C. Library Commission 14,719.94 N.C. Corporation Commission: Administration 46,766.13 Special Rate Work 291.66 47,057.79 Public Buildings and Grounds: Capitol and Caswell Squares. 97,514.21 Gov.'s Mansion and Grounds 9,697.14 107,211.35 Public Printing and Cooperative Supplies 24,006.58 Revenue Department 208,718.88 State Library 6,469.57 Tax Commission 18,872.05 Transportation Advisory Commission 127.30 Weights and Measures 4,925.64 $ 1,727,093.50 Contingency and Emergency: Debt Service Expense 5,222.92 Funeral Expense 30.70 National Guard Special Deputy 536.28 5,789.90 Report of State Treasurer 25 Executive Departments: Auditor's Department $ 37,413.17 Attorney General - 17,737.33 Department of Education 111,529.87 Executive Council. 7,760.82 Governor's Office 25,191.25 State Department.. 17,837.57 Treasury Department 29,648.44 S 247,118.45 Judiciary: Supreme and Superior Coiirts 361,834.72 Supreme Court Reports 11,469.87 373,304.59 Legislature:. General Assembly 12,713.01 Pensions: Soldiers and Widows 950,460.00 Inmates Soldiers Home 330.00 Disabled Soldiers 8, 272. .50 W. T. Reaves-. 900.00 I. C. Blair 600.00 Olivia B. Grimes 600.00 961,162.50 State Aid and Subsidies: Bennett Memorial 50.00 Bishop, Claude H., Relief of 96.00 Confederate Cemetery. 500.00 Confederate Museum 250.00 Firemen's Relief Fund: Volunteers Association, White. 1,875.00 Volunteers Association, Colored 625.00 2,500.00 Fugitives from Justice. Tubercular Cattle 1,990.17 1,794.70 Debt Service: Bond Redemption: iH% Debit Balance Bonds.. 1,000,000.00 4% Funding Bonds... 100,000.00 Old Bonds 150.00 Interest : 4% Bonds 440,908.00 4M% Bonds. 426,123.75 4^2% Bonds 520,785.00 iH% Bonds 359,527.50 5% Bonds 393.362.50 Short Term Notes 145,279.64 1,100,150.00 7,180.87 2,285,986.39 3,386,136.39 Educational, Charitable and Correctional Institutions: Educational: Appalachian Normal School. 146,143.37 Cherokee Indian Normal Sch. 21 , 957 .47 E.Caro. Teachers College 316,762.33 N. C. College for Women 868,803.49 N. C. School for Deaf 111,027.55 N. C. School for Blind 107,662.09 N. C. College for Negroes... 62,934.89 Negro A. & T. College 86,862.02 26 Report of State Treasurer Normal School, Fayetteville. S 54,905.02 Normal Sch , Elizabeth City. 41,685.74 State College of A. & E 1,149,085.73 University of N. C 2,232,525.55 W. Caro. Teachers College.- 94,088.70 Winston-Salem Teachers. CoL 79,074.32 $5,373,518.27 Public Schools: Equalizing Fund 8,751.27 Rural Libraries 950.00 Six Month Term 15,868,456.41 Tax Reduction 1,012,627.14 Teacher Training 380.00 Vocational Education, Indus-trial Rehabili tat i on 9 , 093 . ] 5 Vocational Education 106,925.97 17,007,183.94 Charitable Institutions: Caswell Training School 107,930.78 Confederate Women's Home. 11,067.58 Orthopaedic Hospital 81,266.42 Oxford Orphanage, White.... 26,625.00 Oxford Orphanage, Colored.. 24,405.99 Soldiers' Home... 26,001.14 State Hospital, Goldsboro... 179,233.16 State Hospital, Morganton .. 280,257.91 State Hospital, Raleigh. 327,961.24 Tuberculosis Sanatorium.-.. 245,139.59 1,309,888.81 Correctional Institutions: E. Caro. Train. Sch. for Boys 26.864.33 Efland School for Women 1,8-50.00 Home Training Sch. for Girls 81,.547. 03 Industrial Farm Colony for Women 13,770.57 Morrison Training School...- 24,593.83 Stonewall Jackson Train . Sch 92 , 382 . 17 State's Prison.. 1,196,341.87 1,437,349.80 Total Educational, Charitable and Correctional- -- $ 25,127,940.82 Refunds: Revenue Department: Imprest Fund 5,000.00 Inheritance Tax Schedule "A" 55,095.15 License Tax Schedule "B"... 37,330.23 Franchise Tax Schedule "C" 12,401.83 Income Tax Schedule "D".. 100,732.93 210,560.14 State Department: Corporation Tax 899.18 Executive Department: Fees 2.50 Seals . 2.50 5.00 Blue Sky Tax 30.00 Bus Tag Tax 2.50 Insurance Department Fees 34.00 Report of State Treasurer 27 State Public Schools: Ad Valorem Tax $ 65,635.60 Dog Tax 43.54 Poll Tax 86,134.42 $151,813.56 Interest on Bank Balances 1,556.02 $364,900.40 Sinking Fund Contribution 266,720.00 Total General Fund Disbursements, Including Institutions, Departments and Commissions - $ 32,480,060.43 Special Fund Disbursements: Agricultural Department: Administration 319,170.59 Weights and Measures 100.00 319,270.59 Automobile Funds: Maintenance and Construction. 28,491,173.89 Motor Vehicle Bureau 357,785.45 28,848,959.34 Banking Department 61,869.65 Bus Depository Account 3,541.85 Civil Engineers and Land Surveyors 2,393.40 Department of Education : 65,185.53 Governor's Council of Unemployment: Fund "A" — 706.49 Fund "B" 3,099.53 3,806.02 Insurance Department 45,017.15 N. C. Real Estate Commission.. 4,377.82 N. C. State Fair.... 62,225.07 Pension Investigation State vs. Gantt 2,867.23 Rodman Trust Fund. 1,560.00 Rosenwald Negro Welfare Fund.... 78.06 29,421,151.71 Federal Funds: Forest Reserve Fund 4,753.91 Negro A. & T. College 16,500.00 State A. & E. College 33,500.00 54,753.91 Rockefeller Fund School Attendance 138.70 State Warehouse System 88,432.29 Surplus Cash Investment 8,624.59 97,195.58 Interest and Bond Curtail: Interest: Highway Bonds 4,811,518.75 Cape Fear River Bridge Bonds 52 , 190 .00 Chowan River Bridge Bonds. 23,396.25 Public School Bonds 702,710.00 Veterans Loan Bonds 96,731.25 5,686,546.25 Bonds Paid: Public School Building Bonds. 752,000.00 Highway Bonds 2,211,600.00 Chowan River Bridge Bonds... 50,000.00 3,013,600.00 8,700.146.25 28 Report of State Treasurer Permanent Improvements: Appalachian Teachers College. $ 27,086.89 Caswell Training School 10,510.40 Cherokee Indian Normal School 727.07 East Carolina Teachers College 10,690.47 East Carolina Training School 4,481.10 Home Training School for Girls 79,370.73 Industrial Farm Colony for Women 150.00 Inland Waterways 9,096.91 Morrison Training School 377.00 Negro A. & T. College 7,987.14 Negro Normal School, Fayetteville 44,916.46 N. C. A. & E. College 2,724.83 N. C. School for Blind, Raleigh 19,273.96 N. C. School for Deaf, Morganton 11,500.00 N. C. College for Negroes — 271.83 Orthopaedic Hospital 3,351.52 State Hospital, Morganton 355.05 State Hospital, Raleigh 49,877.52 State's Prison 12,035.99 Stonewall Jackson Training School 5,453.00 Smoky Mountain Park 14,338.66 University of North Carolina 162,998.14 $ 477,574.67 World War Veterans Loan Fund: Bureau Maintenance 28,955.09 Loans made 541,950.00 Interest - 103,111.11 674,016.20 Board of Education: Literary Fund: Loans for Building School Houses 223,565.20 Salaries and Expenses. 7,775.39 231,340.59 Sinking Fund Investments: Highway No. 1 1,266.28 Highway No. 2 45,953.75 Public School No. 3 39,980.12 Public School No. 4 70,916.64 Edu. and Char. Inst. No. 5.... 171,412.18 Edu. and Char. Inst. No. 6 46,450.00 Edu. and Char. Inst. No. 7.... 42,731.89 Public School No. 9 .— 358,160.22 Chowan River Bridge No. 10.. 91,212.93 Cape Fear River Bridge No, 11. 81,409.62 949,493.63 County Loan Trust Fund No. 8 152,985.99 1,102,479.62 Public School Special Building Fund: Re-loaned under Laws 1927 86,785.35 Refunds—Laws 1921 4,485.05 Refunds—Laws 1923 3,850.00 Refunds—Laws 1925 6,630.63 Refunds—Laws 1927 8,475.44 110.226.47 Total Special Fund Disbursements $ 40,868,885.00 Report of State Treasurer 29 Fund Transfers: Cape Fear River Bridge Tolls $ 136,148.22 Chowan River Bridge Tolls - - 163,525.43 Public School Special Building for Bonds 750,000.00 Public School Special Building for Interest 685,762.50 Public School Special Building for Sinking Fund 386,464.22 $ 2,121,900.37 Notes Paid and Renewed - 3,800,000.00 Cash Balance June 30, 1932.... 8,228,784.14 Total all Disbursements- .J 87,499,629.94 30 Report of State Treasurer ALPHABETICALLY ARRANGED COMPARATIVE FUND STATEMENT Receipts and Disbursements for Fiscal Years Ending June 30, 1928, 1929, 1930, AND A Five Year Comparison mat be had by Referring to Itemized Receipts AND Disbursements for Fiscal Years Ending June 30, 1931, and 1932 Receipts General Fund: 1928 1929 1930 Tax Revenue: • Blue Sky Tax (Capital issue) .$ 12,069.75 Corporation Tax State Department 111,222.37 Fees: Attorney General. 1,029.25 Governor's Office... 7,734.00 Insurance Department 14,913.45 State Department 732.80 Income Tax: 8,196,049.83 Inheritance Tax 710,636.56 Interest on Bank Balances 566,595.18 Schedule "B" Miscellaneous Licenses. 1,690,539.74 Schedule "C" Franchise, etc 3,382,249.70 Trade Mark Registration. 105.51 Penalties, State Department 1,680.00 Bus Tags .- 384.50 Building and Loan 17,425.07 Seal Tax, Governor's Office 8,241.00 Seal Tax, State Departi. ent 174.00 Non Tax Revenue: Atlantic & N. C. R. R. Dividends 47,497.50 N. C. R. R. Dividends 210,014.00 Civil War Claim Settlement Laws and Journals, Sale of 3,122.65 Supreme Court Reports, Sale of 8,554.26 Gasoline and Oil Inspection Transfers 747,690.25 Revenue Department from Highway Funds Board of Elections 2,100.00 Indigent Pupils 2,676.74 Incendiary Fire Fund 405.60 Public Printing 70,746.92 62,219.73 Refunds: Attorney General 901.68 Auditor's Department 2,803.30 Board of Education 2,000.00 Bond Sale Expense 24,721.13 Board of Charities and Welfare Budget Bureau Central Telephone Exchange 4,276.25 Contingencies Child Welfare Commission 9.10 Department of Conservation... 180.43 Fugitives from Justice 177.63 Fire Prevention 223.25 Governor's Mansion 61.40 Historical Commission Indigent Pupils Insurance Department 73.28 Legislature Motor Vehicle Bureau 1,714.97 National Guard 55,790.80 N. C. Corporation Commission. 225.90 10,002.32 $ 16,382.68 163,691.24 193,167.26 404.70 189.25 7,408.75 7,244.75 16,547.25 18,561.15 1,389.60 398.40 7,686,280.43 7,290,909.28 1,016,927.28 1,385,525.45 418,203.94 239,635.57 1,508,393.80 1,793,204.95 3,691,088.34 4,874,602.67 186.00 345.10 1,340.00 2,390.00 164.50 157.50 40,998.62 8,076.25 7,851.25 538.60 150.50 44,331.00 44,331.00 210,014.00 210.014.00 118,035.69 3,053.83 1,934.98 6,844.15 4,589.08 701,873.85 707,235.79 40,000.00 40,000.00 3,420.00 900.00 184.20 2,633.75 7,730.00 5,056.91 3,277.08 1,169.17 9,030.74 46.67 210.00 625.00 4,329.50 1,668.57 6,958.65 65.00 154.03 15.00 350.00 67.27 746.25 437.76 431.94 1,124.29 330.41 1,021.43 17,873.65 60.00 2,713.47 483.35 38,556.85 30.60 182.54 Report of State Treasurer 31 N. C. Board of Health— $ 501.21 Negro A. & T. College 89.61 Pensions 1,545.00 Public Building and Grounds. _-. _. 14,667.04 Public Schools Reveiiue Department State Department 9.12 Supreme Court State Hospital, Goldsboro.. ._ 50.24 Tax Commission Treasury Department 4.10 Tubercular Cattle Vocational Education 8,342.27 Watts, A. D., Relief of Departments and Institutions carried in General Fund: Appalachian Teachers College 82,044.09 Board Charities and Welfare 241.70 Confederate Women's Home Caswell Training School 5,265.05 Cherokee Indian Normal School 6,236.99 Conservation and Development 336,473.32 Department of Education 11,625.84 East Carohna Teachers College 199,768.73 East Carohna Industrial School 180.00 Elizabeth City Normal School 44,939.00 Fayetteville Normal School 42,252.76 Industrial Farm Colony for Women Industrial School for Women and GirLs 2,421.42 Laboratory of Hygiene 34,878.17 Morrison Training School .- 2,225.41 N. C. College for Women 736,037.05 Negro A. & T. College 89,651.20 N. C. College A & E 565,441.77 N. C. School for the Deaf 5,616.46 N. C. School for Deaf and Blind. 14,402.44 N. C. College for Negroes 32,039.29 N. C. Board of Health 14,964.36 N. C. Library Commission 245.26 N. C. Historical Commission 508.49 N. C. Industrial Commission Orthopaedic Hospital 2,072.50 State Library 158.43 State Hospital, Goldsboro 9,384.70 State Hospital, Morganton 17,576.70 State Hospital, Raleigh 40,574.49 Soldiers' Home 100.00 State's Prison 706,301.28 Stonewall Jackson Training School. 8,865.56 Tuberculosis Sanatorium 123,717.53 University of North Carolina 564,888.54 Vocational Education 990.00 Western Carolina Teachers College 73,193.04 Winston-Salem Teachers College 42,441.80 Special Funds: Agricultural Department; Gasoline and Oil Inspection 711,175.19 767,255.34 66,618.55 Fertilizer and Miscellaneous 495,131.30 495,247.21 440,341.21 $ 13,325.45 .$ 300.00 17,384.15 153.25 4,105.00 9.90 117.73 178.89 400.00 671.67 4.17 5,474.65 467.25 869.28 78,931.02 86,5.59.87 2,000.00 7,889.90 5,722.04 8,131.01 6,385.70 449,140.68 452,970.49 242,998.48 239,320.20 270.02 125.00 36,700.75 38,186.34 44,597.69 38,465.74 78.32 783.24 2,247.50 30,993.54 23,815.51 1,794.47 964.57 753,328.93 747,113.27 75,449.15 81,718.19 531,275.58 772,694.20 8,392.14 9,795.53 19,923.27 15,012.42 33,731.40 30,689.97 32,664.26 45,989.64 538.50 640.47 14,577.03 2,783.88 2,672.63 368.83 322.70 12.991.65 17,173.82 19,065.45 11,050.33 39,408.24 49,854.96 740,632.36 803,756.76 6,794.14 6,153.86 138,372.55 161,339.68 525,058.74 1,458,477.03 1,384.50 1,491.61 71,140.03 71,341.90 45,954.12 54,341.12 32 Report of State Treasurer Highway Funds: Automobile Licenses $8,370,284.88 $7,016,781.88 $ 7,059,360.34 Gasoline Tax 9,678,518.83 10,722,187.90 13,506,985.88 Tolls Chowan River Bridge - 50,701.66 65,096.16 78,139.60 Tolls Cape Fear River Bridge 48,743.08 Interest accrued in Bond Sale... 87,440.63 64,885.45 Miscellaneous Highway Commission 2,607,741.21 Bank Examination Fees 58,929.81 55,081.10 55,574.67 Bus Deposits 5,101.00 1,800.00 4,711.50 Building Fund, Fire Loss, etc 40,033.33 86,206.37 141,077.57 Board of Education (Literary Fund) 293,492.81 300,487.39 308,664.15 Civil Engineers and Land Surveyors- 3,688.00 3,849.75 3,298.10 County Loan Highway Fund 852,680.26 399,552.09 446,715.36 Debt Service Transfers 5.706,388.80 6,766,804.56 7,393,624.62 Emergency Loan ..- 47,227.25 Federal Funds 43,530.86 88,601.99 57,654.80 Insurance Department 170,634.04 158,316.74 46,728.64 Land Titles, Assurance of 140.04 52.72 54.35 N. C. Real Estate Commission... 5,455.00 8,747.25 6,755.00 N. C. State Fair . 200,000.00 37,613.99 128,511.86 N. C. Board of Health, M. and I — 22,260.00 Xotes, Resale Highway 4,250,000.00 Public School Building Loans.. 1,434,266.27 1,578,816.27 1,553,480.31 Rodman Scholarship Foundation ..- 1,873.24 1,708.01 Rosenwald Negro Welfare Foundation.. 2,850.43 5,453.68 Rockefeller Funds 19,177.00 18,056.19 5,700.25 Sinking Funds 462,213.47 1,010,321.06 2, 222, .570. 74 State's Prison, Debt, Amortization 949.14 State Warehouse System 98,537.89 42,086.51 58,209.48 World War Veterans Loan 2,125,194.18 267,887.92 238,843.10 Weights and Measures 4,616.00 Bond Sales 17,100,000.00 8,970,000.00 Note Sales and Renewals 5,600,000.00 18,700,000.00 13,600,000.00 Total Receipts .$77,661,573.35 $68,311,852.51 $ 81,399,762.83 Disbursements General Fund: Auditor's Department ._ ..$ 47,668.72 $ 52,172.54 $ 54,687.84 Attorney General- 19,389.83 30,911.46 19,424.20 Appalachian Teachers College 136,932.88 142,944.75 153,859.58 Board of Elections ^ 8,952.00 8,670.86 10,091.71 Board of Charities and Welfare 112,184.50 121,293.57 107,046.99 Budget Bureau 29,274.21 39,795.99 33,506.46 Bureau of Labor and Printing 35,451.43 33,481.69 33,460.04 Bond Redemption 1,026,360.00 1,100,400.00 1,107,900.00 Contingency and Emergency 959.00 80,429.26 67,012.88 County Advisory Commission 18,054.92 14,407.48 19,184.19 Con.servation and Development 387,291.44 606,187.54 572,680.33 Cherokee Indian Normal School 34,793.91 36,627.01 32,163.15 Caswell Training School 138,172.76 158,673.25 157,905.33 Confederate Women's Home 13,375.00 14,160.00 15,480.00 Debt Service 1,593,134.74 1,882,119.24 2,159,787.62 Department of Education 163,077.40 129,182.66 126,860.60 Executive Council 6,917.67 7,962.87 11,142.84 East Carolina Teachers College 352,696.62 429,456.50 439,623.71 East Carolina School for Boys 17,214.99 25,484.37 28,540.79 Efland School for Women 1,500.00 2,500.00 2,000.00 Farm Colony for W'omen 17,744.35 13,476.65 Fire Protection Smoky Mountain Park 3,209.26 Repokt of State Treasurer 33 Governor's Office :-._ --$ 17,933.52 $ 19,473.81 $ 18,920.28 Historical Commission 30,641.79 34,072.52 36,142.-33 Instance Department 113,424.27 112,290.19 113,300.03 Judiciary 377,438.75 379,874.78 382,244.41 Legislature 1,211.26 174,089.50 16,708.68 Morrison Training School 20,026.67 28,008.70 26,828.39 National Guard 228,303.57 143,237.43 220,124.50 N. C. and S. C. Boundary Commission 6,008.53 N. C. Park Commission... 3,000.00 1,987.75 1,012.25 N. C. Board of Health 465,493.71 484,930.99 525,666.07 N. C. Library Commission 25,337.76 25,446.99 22,998.07 N. C. Industrial Commission 16,905.30 97,970.59 N. C. Corporation Commission 85,562.33 83,668.89 105,352.48 N. C. College for Women 1,192,285.25 1,211,812.39 1,150,077.82 N. C. School for Deaf 140,683.90 144,345.05 144,871.51 N. C. School for Deaf and Blind 157,350.15 163,344.43 156,034.39 N. C. College for Negroes 64,240.49 76,832.26 74,398.89 Negro A. & T. College 161,667.70 139,716.94 139,787.07 Normal School, Fayetteville 76,751.71 79,002.29 70,768.39 Normal School, Elizabeth City 84,150.08 70,594.95 73,737.21 Orthopaedic Hospital 84,739.75 111,776.24 112,122.35 Oxford Orphanage, White 30,000.00 30,000.00 30,000.00 Oxford Orphanage, Colored- 25,000.00 25,000.00 27, .500. 00 Presidential Electors 363.40 Public Buildings and Grounds 133,422.47 150,169.05 157,268.05 Printing (subject to departmental charge) 112,383.44 10,423.21 81,918.69 Pensions 1,406,682.00 1,310,965.00 1,129,025.00 Public Schools 3,542,704.30 3,657,339.10 6,519,069.68 Revenue Department 192,841.89 212,468.35 237,379.91 Refunds 55,863.73 208,672.26 272,878.44 Salary and Wage Commission 3,209.94 3,386.80 3,168.17 State Library 11,525.81 13,870.24 11,394.09 State Department 23,994.42 24,070.63 23,844.66 State Aid and Subsidies 31,536.58 31,950.82 51,627.63 State College A. &E 1,096,557.90 1,176,901.47 1,349,913.80 Soldiers' Home 51,086.23 44,795.42 38,683.42 State Hospital, Goldsboro 256,468.76 255,003.22 254,146.85 State Hospital, Morganton 444,220.17 422,679.72 401,562.44 State Hospital, Raleigh 416,728.33 421,039.18 409,776.28 Stonewall Jackson Training School 149,581.05 152,730.96 136,578.03 State's Prison 549,364.94 764,326.06 1,130,981.70 Sinking Fund Contribution 214,250.00 214,250.00 266.720.00 Treasury Department 35,729.14 34,238.03 32,1,58.99 Teachers College, Winston- Salem 91,365.44 91,891.08 103,900.61 Tuberculosis Sanatorium 251,789.11 285,038.09 313,106.99 Training School for Girls 95,762.64 101,813.25 98,922.74 Transportation Commission 11,439.33 14,279.16 3.099.85 Tax Commission 18,124.66 33,621.66 11,708.03 University of North Carolina 1,393,159.02 1,475,703.72 2,279,347.79 AVestern Carolina Teachers College 124,330.74 129,394.22 1.30,188.90 Special Fund: Audubon Society 495.50 Agricultural Dept. Miscellaneous Inspection Taxes 455,855.63 462,488.09 439,738.75 Agricultural Dept. Gasoline and Oil Inspection... 66,972.94 65,381.49 66,618.55 Automobile Fund Highway Maintenance 10,278,437.82 25,564,620.00 24,049,623.26 Automobile Fund Motor Vehicle Bureau 530,973.52 451,416.26 472,353.88 Automobile Fund Highway Construction 16,947,676.13 1,640,000.00 2,726,195.63 Automobile Fund Building 2,833.62 Appalachian Teachers College 21,376.24 106,932.89 17,755.38 Bank Examination 51,336.62 49,086.01 .52,482.20 34 Report op State Treasurer Board of Health M. and I $ 22,001.18 $ 24,617.23 $ 5,480.07 Board of Education (Literary Fund) - 277,510.73 309,744.07 317,608.00 Bus Depository 8,100.00 6,730.59 5,650.03 Civil Engineers and Land Surveyors...- 3,975.90 5,082.21 3,482.15 Caswell Training School - 87,793.07 39,036.98 43,658.80 Cherokee Indian Normal 174.11 4,962.90 Confederate Women's Home.. 3,309.26 County Highway Loan Fund 448,861.37 366,267.04 732,654.30 Debt Service, Interest 5,216,316.38 5,406,045.49 6,117,014.92 Debt Service, Bond Redemption.... 250,000.00 250,000.00 2,850,000.00 Eastern Carolina Teachers College 321,169.03 83,397.59 190,988.25 Eastern Carolina Industrial School... 62,737.22 32,404.70 92,090.33 Elizabeth City Normal School 16,987.45 2,716.76 5,955.62 Federal Funds.... 80,670.83 87,556.22 63,945.49 Fayetteville Normal School 19,716.13 238.75 Fund Transfer to General Fund 828,543.92 701,873.85 522,828.42 Insurance Department 116,239.23 137,230.63 144,329.10 Industrial Farm Colony for Women 5,507.81 54,491.19 31,298.46 Inland Waterway 19,254.62 18,776.66 6,178.93 Morrison Training School 51,462.69 8,550.83 29,301.25 N. C. Real Estate Commission 6,268.60 6,556.55 8,187.65 N.C. College for Women 453,556.87 290,251.77 60,629.74 N. C. College for Negroes 10.91 84,910.82 234,609.36 N. C. State Fair 27,212.62 24,139.00 141,693.83 N. C. School for Deaf 77,092.15 1,003.22 48,945.25 N. C. School for Blind and Deaf 256.65 105.00 67,074.73 Notes Paid and Renewed 15,750,000.00 12,700,000.00 16,100,000.00 Negro A. & T. College 34,263.98 4,497.68 38,563.07 Orthopaedic Hospital 119,638.97 63,055.22 4,037.72 Public Buildings and Grounds 72,623.19 8,651.22 Public School Building Loans 2,780,751.16 969,723.86 429,762.55 Rockefeller Funds 17,924.88 19,545.00 6,235.89 Rosenwald Negro Welfare Fund 501.57 4,657.15 Rodman Trust Fund 1,407.12 1,499.17 1,748.75 State Fair 195,016.96 State A. &E. College 349,739.15 199,827.71 74,243.89 State Hospital, Goldsboro 174,414.65 3,991.00 123,315.45 State Hospital, Morganton 89,720.80 10,585.77 20,450.69 State Hospital, Raleigh 64,111.68 2,292.73 185,550.06 State's Prison 49,637.09 15,332.08 8,205.95 StonewallJackson Training School 30,294.94 385.29 21,869.60 Smoky Mountain Park 237,639.59 576,973.16 State Warehouse System 143,317.02 44,534.25 41,797.08 Sinking Funds Investments 403,609.38 539,846.61 2,695,532.47 Training School for Girls and Women 64,080.04 9,156.27 37,390.81 Tuberculosis Sanatorium 129,0.58.35 98,832.70 29,503.52 University of North Carolina 439,563.72 607,108.48 281,201.07 World War Veterans Loan 1,874,201.97 402,628.83 142,834.41 Western Carohna Teachers College .53,300.00 4,665.14 120.2.56.36 Winston-Salem Teachers College 38,706.43 17,143.64 1,310.82 Weights and Measures. 4,257.98 Total Disbursements 177,680.509.15 S72,179,831.34 .$ 84,667,014.30 Report of State Treasurer 35 Public School Btjilding Loans from proceeds bond issues secured by twenty-payment NOTES to be applied TO PAYING BONDS AS THEY BECOME DUE Counties Laws 1921 Laws 1923 Laws 1925 Laws 1927 Total Alamance $ 33,000 ? 30,000 $ 44,250 $ 61,600 $ 168,850 Alexander - 13,750 24,000 48,750 86,500 Alleghany 14,125 720 14,845 Anson- 26,210 36,600 39,900 20,250 122,960 Ashe. 2,100 2,100 Avery 37,000 6,000 43,000 Beaufort 31,125 42, ,500 73,625 Bertie 30,625 7,200 73,500 34,000 145,325 Bladen.-.. 39,600 7,500 28,000 62,222 137,322 Brunswick ' 8,900 9,900 Buncombe 62,500 40,800 70,000 28,000 201,300 Burke 25,850 25,200 50,400 35,200 136,650 Cabarrus 11,000 54,000 120,850 185,850 Caldwell 26,000 36,000 45,850 48,200 156,050 Camden... 8,250 10,500 16,000 34,750 Carteret 18,395 2,160 61,053 81,608 CaswelL.. 16,550 17,400 42,000 27,500 103,450 Catawba 37,250 47,400 40,600 48,000 173,250 Chatham 26,070 17,400 4,550 42,950 90,970 Cherokee 16,500 24,050 40,800 81,350 Chowan Clay. 10,350 11,700 21,250 43,300 Cleveland 35,350 46,200 80,600 85,000 247,150 Columbus 15,950 11,400 111,000 23,750 162,100 Craven. 39,750 68,250 33,750 141,750 Cumberland 36,650 34,124 48,000 4,250 123,024 Currituck 13,800 20,400 34,200 Dare 5,675 1,200 2,800 9,675 Davidson 35,100 34,080 93,400 24,000 186,580 Davie 27,500 32,400 16,100 76,000 Duplin 20,350 50,400 106,750 44,000 221,500 Durham 45,250 33,000 63,000 35,600 176,850 Edgecombe 44,350 45,000 43,400 40,000 172,750 Forsyth 33,000 84,000 117,000 Franklin 30,800 60,000 67,719 53,550 212,065 Gaston 49,650 68,400 108,500 16,000 242,550 Gates 12,100 26,400 30,800 17,375 86,675 Graham 44,000 44,000 Granville 34,150 60,000 94,150 Greene 48,000 10,400 70,750 37,550 166,700 Guilford. 74,500 99,000 108,500 40,000 322,000 Halifax 42,200 70,200 63,000 41,251 216,651 Harnett 32,450 72,000 97,250 72,000 273,700 Haywood 24,750 24,000 40,050 88,800 Henderson 19,500 45,500 56,000 54,000 175,000 Hertford 5,500 1,800 27,150 52,800 87,250 Hoke 15,400 8,400 16,000 39,800 Hyde 9,350 15,000 24,350 Iredell 39,000 16,800 91,000 48,000 194,800 Jackson 23,375 32,400 28,000 21,884 105,659 Johnston 55,000 102,000 157,000 Jones 30,800 15,000 45,800 Lee 2,475 9,840 91,600 103,915 Lenoir 24,750 54,000 87,500 53,600 219,850 Lincoln 24,000 44,400 52,500 24,000 144,900 Macon 16,800 16,800 Madison 13,750 54,000 66,500 31,875 166,125 Martin-. 21,250 51,600 24,500 40,000 137,350 36 Report of State Treasurer McDowell Mecklenburg-. Mitchell Montgomery.. Moore Nash New Hanover Northampton. Onslow Orange Pamlico Pasquotank... Pender Perqiiimans... Person Pitt Polk- Randolph Richmond Robeson Rockingham.. Rowan Rutherford Sampson Scotland Stanly Stokes Surry Swain Transylvania- Tyrrell Union Vance Wake Warren Washington... Watauga Wayne Wilkes Wilson Yadkin Yancey $ 20,900 $ 9,600 i 52,500 $ 28,000 $ 111.000 74,800 66,600 145,500 44,000 330,900 20,350 16,200 32,200 68,750 32,700 42,000 42,000 8,000 124,700 21,550 33,000 35,000 44,000 133,550 62,700 42,000 44,000 72,600 221,300 26,600 36,000 77,500 140,100 18,425 9,300 19,600 60,000 107,325 17,600 30,000 102,000 28,500 178,100 25,350 34,800 23,100 83,250 29,250 18,000 18,900 66,150 24,200 21,000 67,500 10,200 122,900 40,800 37,500 78,300 12,800 29,900 17,250 59,950 19,600 34,500 22,400 21,112 97,612 43,150 48,000 101,000 22,000 214,150 11,000 26,000 57,000 4,500 98,500 33,600 48,000 46,900 28,000 156,500 27,850 25,200 52,500 105,550 58,900 40.500 76,000 175,400 49,500 54,000 36,000 139,500 48,400 54,000 56,000 52,000 210,400 36,650 34,500 109,000 53,500 233,650 15,000 62,550 25,200 102,750 33,550 40,800 4,250 78,600 33,600 36,600 49,000 40,000 159,200 29,250 7,500 44,400 81 , 150 42,000 50,375 99,450 45,900 237,725 13,750 24,000 7,000 18,450 63,200 13,000 28,000 36,000 77,000 4,400 14,000 18,400 42,500 6,120 69,250 68,000 185,870 24,200 26,400 49,000 99,600 72,000 57,780 182,000 62,400 374,180 26,700 27,000 21,000 74,700 27,500 27,500 15,500 28,800 12,600 56,900 41,750 51,000 66,800 9,000 168,550 37,400 38,400 42,086 117,886 52,250 42,000 51,800 29,600 175,650 18,150 23,100 41,250 20,075 35,000 80,075 S 2,745,075 S 3,026,199 $ 4,368,358 $ 2,440,519 $ 12,605,151 Report of State Treasurer 37 LOANS OUTSTANDING FOR BUILDING SCHOOL HOUSES Literary Ftjnd Board of Education June 30, 1932 Alamance S 34,400 Alexander 10,250 Alleghany 1,750 Anson 17,700 Ashe- 2,000 Avery 18,000 Beaufort - 19,750 Bertie - 48,450 Bladen .- 27,150 Briinswick 10,500 Buncombe. 20,350 Burke 7,500 Cabarrus 12,500 CaldwelL 41,200 Camden Carteret 45,000 Caswell 28,100 Catawba 14,300 Chatham 1,600 Cherokee 7,400 Chowan 26,500 Clay 1,380 Cleveland 11,200 Columbus 400 Craven 14,600 Cumberland 20,800 Currituck Dare 11,560 Davidson 26,140 Davie 400 Duplin 2,600 Durham 700 Edgecombe 1,850 Forsyth FrankUn 30,000 Gaston 14,650 Gates 18,130 Graham 1,800 Granville 19,500 Greene 10,650 Guilford 13,500 Hahfax 28,000 Harnett 37,945 Haywood 7,200 Henderson 13,000 Hertford 1,460 Hoke 8,710 Hyde 10,210 Iredell. 23,810 Jackson 15,250 Johnston 12,500 Jones 2,500 Lee Lenoir.. 33,325 Lincoln... 2,050 Macon 2,675 Madison 70,500 Martin 34,640 38 Report of State Treasurer McDowell $ 15,800 Mecklenburg 34,290 Mitchell... - 8,250 Montgomery 26,050 Moore 19,450 Nash -.- 2,000 New Hanover Northampton 23,300 Onslow 1,100 Orange 12,675 Pamlico 3,000 Pasquotank . 5,400 Pender.. 9,420 Perquimans Person.. 32,900 Pitt 31,700 Polk Randolph 34,700 Richmond 21,000 Robeson... 44,950 Rockingham Rowan. 33,600 Rutherford 24,000 Sampson 21,900 Scotland 1,000 Stanly 36,350 Stokes - 22,500 Surry 19,600 Swain 100 Transylvania 725 Tyrrell 8,350 Union 11,200 Vance _ 4,500 Wake 23,100 Warren 12,270 Washington 20,360 Watauga.- 5,000 Wayne 5,200 Wilkes... 13,000 Wilson 11,800 Yadkin 8,212 Yancey S 1,506,787 STATE'S INVESTMENT IN RAILROADS June 30, 1932 30,002 Shares Stock, North Carolina Railroad Company $ 3,000,200 12,666 Shares Stock, Atlantic & North Carolina Railroad Company 1,266,600 S 4,266,800 The State owns a majority of stock in these railroads, thereby giving the State control, which, at the same time enhances the value of this majority stock. The North Carolina Railroad extends from Goldsboro via Raleigh and Greensboro to Charlotte. It is leased to the Southern Railroad upon a flat eight per cent (8%) stock basis. The Atlantic and North Carolina Railroad extends from Morehead City to Goldsboro. It is leased to the Norfolk-Southern Railroad upon an increasing rental basis as the lease ages. At present the rental upon a stock interest rate basis yields 4J^%. Both leases require that at the termination of the leases, road bed, rolling stock, stations and all other property must be in as good condition as at the beginning of the leases. Report of State Treasurer 39 state sinking funds June 30, 1932 Invested: Highway Sinking Fund No. 1 iH% Highway Bonds, due 1940 --_ S 50,000 4M% Highway Bonds, due J. & J. 1933-58 331,000 i}4% Education and Charity Bonds, October 1, 1963 110,000 iH7c Gastonia School Bonds, May, 1946-59 100,000 4Ji% Goldsboro Bonds, January, 1937-56 9,000 5% Raleigh School Bonds, October, 1938 3,000 6% Craven County Bonds, March, 1936 8,000 6% Pitt County Bonds, April, 1945 1,000 5% City of Henderson Bonds, June, 1953.- 2,000 4H% Public School Bonds, 1945 and 1950 7,000 4% Highway Bonds, 1939 17,000 5% Highway Bonds, 1961 12,000 5%Education and Charity Bonds, January, 1961 2,000 4M% Highway Bonds, 1940 1,000 4K% Park Bonds, April, 1965-67 133,000 i}4% Education and Charity Bonds, January, 1966 3,000 5% Funding Bonds, February 15, 1937 30,000 4M% Public School Bonds, January, 1942 25,000 4% Education and Charity Bonds, April, 1968 110,000 ? 054,000 Highway Sinking Fund No. 2 45-2% Pubhc School Bonds. January, 1936-50..- S 47,000 4^2% Highway Bonds, J. & J., 19.36-62 1,899,000 43^% Education and Charity Bonds, January, 1962-66 97,000 4% Highway Bonds, J. & J., 1935-47 342,000 5% Highway Bonds, 1961 26,000 5% Education and Charity Bonds, July, 1961 76,000 5% Funding Bonds, February 15, 1942 and 1952 8,000 iH% Highway Bonds, 1940 and 1952 18,000 4^% Park Bonds, April, 1967-72- 267,000 4M% Permanent Improvement Bonds, April, 1968 236,000 4M/0 Chowan Bridge Bonds, January, 1942 6,000 4M% Highway Bonds, January, 1939-42 21,000 4% Education and Charity Bonds, April, 1968 460,000 43^% Highway (Reg.) Bonds, 1950 10,000 4}-^% Highway (Reg.) Bonds, 1941-58 222,000 4M% Highway (Reg.) Bonds, January, 1936 76,000 3,811,000 Public School Sinking Fund No. 3 434% General Fund Notes, July, 1935 --? 39,000 4J^% Highway Bonds, 1940-55 257,000 4J^% Education and Charity Bonds, January, 1966 344,000 i%% Public Improvement Bonds, October, 1963 2.000 i}4% Public School Bonds, January, 1937-43 13,000 iH% Permanent Improvement Bonds, April, 1968 14,000 4J4% Park Bonds, April, 1942 10,000 04% Chowan River Bonds, January, 1944 5,000 4H% Highway (Reg.) Bonds, January, 1950 15,000 4Ji% Highway (Reg.) Bonds, January, 1936 24,000 4^% Highway (Reg.) Bonds, July, 1951 200,000 923,000 40 Report of State Treasurer Public School Sinking Fund No. 4 4^% General Fund Notes, July, 1935— $ 64,000 4H% Highway Bonds, 1949, 1957, 1958.. 50,000 4% Highway Bonds, 1935-40 598,000 5% Funding Bonds, February 15, 1947 18,000 4M% Chowan River Bridge Bonds, January, 1942 10,000 4M% Highway Bonds, January, 1933-49 26,000 4M% Education and Charity Bonds, January, 1966 211,000 4M% Public School Bonds, January, 1935 and 1949 12,000 4M% Permanent Improvement Bonds, April, 1968 370,000 4}^% Public School Bonds, January, 1947 5,000 4V^% Highway (Reg.) Bonds, July, 1952 167,000 4% Highway (Reg.) Bonds, July, 1934 2,000 43^% Highway (Reg.) Bonds, January, 1950 25,000 S 1,558,000 Public School Bonds Sinking Fund No. 9 5% Highway Bonds, July, 1961 $ 25,000 4H% Highway Bonds, January, 1940 50,000 4H% Education and Charity Bonds, October, 1963 20,000 4H% Education and Charity Bonds, January, 1962 5,000 iy2% Highway Bonds, J. & J., 1935-64 79,000 4% Highway Bonds, July, 1939 and 1948 1.30.000 5% Funding Bonds, February 15, 1947 17,000 m% Highway (Reg.) Bonds, January, 1949 . 25,000 351,000 Educational, Charitable and Institutional Interest Sinking Fund No. 5 4}-^% Highway Bonds, January, 1933-63 ....$ 226,000 4H% Public School Bonds, January, 1941 15,000 4M% McDowell County Highway Bonds, March, 1944-54 100,000 5K% Moore County School Bonds, September, 1932-46 41,000 4H% Education and Charity Bonds, January, 1966 55,000 5% Funding Bonds, February 15, 1937 and 1942 315,000 4% Highway Bonds, J. & J., 1936-1946 294,000 4M% PubUc School Bonds, January, 1937-42 12,000 4M% Permanent Improvement, April, 1968 221,000 4% Education and Charity Bonds, April, 1968 175,000 45^% Education and Charity Bonds, October, 1963 5,000 4% Highway (Reg.) Bonds, July, 1944-46 200,000 4J4% Highway (Reg.) Bonds, January. 1951 15,000 1,674,000 Educational, Charitable, and Institutional Interest Sinking Fund No. 6 4M% Highway Bonds, January, 1940 $ 25,000 4M% Public School Bonds, January, 1941 and 1942 43,000 4)4% Education and Charity Interest Bonds, January, 1966 30,000 4% Highway Bonds, J. & J., 1935 and 1937 40,000 iy2% Highway Bonds, July, 1942 50,000 4H% Permanent Improvement, April, 1968 59,000 4% Education and Charity Bonds, April, 1968 45,000 4H% Highway Bonds (Reg.) 1943 10,000 4% Highway (Reg.) Bonds, 1943 5,000 4H7o General Fund Bonds, July, 1933 2,000 309,000 Report of State Treasurer 41 Educational, Charitable and Institutional Interest Sinking Fund No. 7 4J^% Highway Bonds, Jan., 1938 S 15,000 4% Highway Bonds, 1936 and 1946 67,000 iiifo Public School Bonds, January, 1942 25,000 4% Farm Colony Bonds, April. 1967 10,000 4H% Highway (Reg.) Bonds, July, 1936 25,000 4)i% Highway (Reg.) Bonds, January, 1945 15,000 S 157,000 Chowan River Bridge Sinking Fund No. 10 4% State Prison Bonds, July, 1967 90,000 Cape Fear River Bridge Sinking Fund No. 11 4% State Prison Bonds, July, 1967 72,000 4H% Highway Bonds, January, 1942 8,000 80,000 Total Invested S 9,907,000.00 Cash in Bank at Interest 966,156.77 Total Sinking Fund $ 10,873,156.77 42 Report of State Treasurer BONDED debt OF NORTH CAROLINA June 30, 1932 4% Hospital, July, 1909, due July, 1949 _ ? 500,000 4% Refunding, July, 1919, due July, 1950 . 3,430,000 4% Administrative Building, July, 1911, due July, 1951 250,000 4% Feeble Minded School, July, 1911, due July, 1951 60,000 4% Improvement, July, 1913, due July, 1953 1,142,500 4% Refunding, January, 1913, due January, 1953 550,000 iH% General Fund Notes, July, 1925, due July, 1932-1935 4,588,000 5% Funding, February 15, 1922, due February 15, 1937, 1942, 1947, 1952. 4,500,000 Educational and Charitable Institutions Bonds 4% dated July, 1917-20, due July, 1932-38.- 670,500 4% (Farm Colony) dated April, 1931, due April, 1967 60,000 4% dated April, 1931, due April, 1968 4,247,000 4M% dated April, 1930, due April, 1936-40 1,970,000 414% dated April, 1930, due April, 1968 1,000,000 4H% (Park) dated April, 1930, due April, 1933-72 2,000,000 434% dated January, 1922, due January, 1962 - 3,373,000 4.1/2% dated January 1926, due January, 1966 - 5,125,000 414% dated October, 1923, due October, 1963 3,049,000 43^% dated October, 1923, due October, 1963 7,100,000 43-1% (Fisheries) dated October, 1923, due October, 1963 500,000 5% dated July, 1921, duo July, 1961_ 3,372,000 4% (Prison) dated July, 1931, due July, 1967.. ._ 400,000 S 47,887,000 Public School Building Bonds 4% dated January, 1928, due January, 1933-41—Laws 1927 1,100,000 *H% dated January, 1928, due January, 1941-52—Laws 1927 1,400,000 *M% dated January, 1927, due January, 1933-51—Laws 1925 4,750,000 ^¥2% dated January, 1922, due January, 1933-47—Laws 1921.. 3,585,000 41^% dated January, 1926, due January, 1933-.50—Laws 1923 4,500,000 15,335,000 World War Veterans Loan Bonds iH% dated April, 1930, due April, 1950 - 2,000,000 4% dated July, 1931, due July, 1951 500,000 2,500,000 Highway Serial Bonds 4% dated January, 1927 and 1931, due July, 1932-48 20,500,000 4% dated January, 1928, due January, 1933-41 4,500,000 4}i% dated January, 1931, due January, 1934-54 (Cape Fear) 1,250,000 4J4% dated January, 1930, due January, 1933-40 (Chowan) 500,000 4M% dated January, 1927, due January, 1933-49 13,500,000 iVi% dated January and July, 1921-26, due January, 1933-64 45,800,000 4V2% dated January and July, 1921-26, due July, 1932-61 15,447,000 iH% dated January, 1923, due January, 1938-52 3,750,000 5% dated July, 1921, due July, 1941, 1951, 1961 4,540,000 109,787,000 Total Bonded Debt $175,509,000 Notes Payable General Fund Notes $ 7,230,000 Permanent Improvements. 272,371 7,502,371 $183,011,371
Object Description
Description
Title | Biennial report of the Treasurer of North Carolina |
Other Title | Report of the Treasurer of North Carolina |
Contributor |
North Carolina. Department of State Treasurer. |
Date | 1930; 1931; 1932 |
Subjects |
Finance, Public--North Carolina--Periodicals Local finance--North Carolina--Periodicals North Carolina. Department of State Treasurer |
Place | North Carolina, United States |
Time Period | (1929-1945) Depression and World War Two |
Description | Description based on: 1882/1884. |
Publisher | [Raleigh, N.C. :The Dept.,-1976. |
Agency-Current |
North Carolina Department of the State Treasurer |
Rights | State Document see http://digital.ncdcr.gov/u?/p249901coll22,63754 |
Physical Characteristics | v. ;23 cm. |
Collection | Health Sciences Library. University of North Carolina at Chapel Hill |
Type | text |
Language | English |
Format |
Reports |
Digital Characteristics-A | 2404 KB; 58 p. |
Digital Collection |
Ensuring Democracy through Digital Access, a North Carolina LSTA-funded grant project North Carolina Digital State Documents Collection |
Digital Format | application/pdf |
Title Replaced By | North Carolina. Department of State Treasurer..Annual report |
Title Replaces | North Carolina. Treasurer..Biennial report of the Public Treasurer of North Carolina |
Audience | All |
Pres File Name-M | pubs_edp_biennialreporttreasurer19301932.pdf |
Pres Local File Path-M | \Preservation_content\StatePubs\pubs_edp\images_master\ |
Full Text | Clje Lifttarp of tf)E Onitjerisitp of Jl^ortb Carolina Collection ot Bottii Caroliniana C35G UNIVERSITY OF N.C. AT CHAPEL HILL 00033968172 This book must not be taken from the Library building. ocn REPORT OF THE TREASURER OF NORTH CAROLINA FOR FISCAL YEARS ENDING JUNE 30, 1931 AND 1932 JOHN P. STEDMAN State Treasurer Presses of Edwards & Broughton CoiiPANT State Printers 1932 STATE TREASURER'S REPORT For Fiscal Years Ending June 30, 1931, and June 30, 1932 CONTENTS Page Alphabetically Arranged Comparative Receipts and Disbni'sements 30 Consolidated Statement—Two Fiscal Years Ending June 30, 1932 8 Consolidated Statement—Fiscal Year Ending June 30, 1931 9 Consolidated Statement—Fiscal Year Ending June 30, 1932 19 Disbursements—Fiscal Year Ending June 30, 1931 31 Disbursements—Fiscal Year Ending June 30 , 1 932 24 Letter of Transmittal 5 Public School Building Loans from Bond Issues 35 Public School Building Loans—Literary Fund 37 State's Investment in Railroads 38 State Sinking Funds 39 State Debt 42 Treasurers of North Carolina 4 PUBLIC TREASURERS OF NORTH CAROLINA From To Richard Caswell, Northern District. . . 1775 1777 Samuel Johnston, Southern District .. . 1775 1777 Memucan Hunt 1777 1787 John Haywood 1787 1827 William S. Robards 1827 1830 William S. Mhoon 1830 1835 Samuel T. Patterson 1835 1837 Daniel W. Courts 1837 1839 Charles L. Hinton 1839 1843 John W. Wheeler 1843 1845 Charles L. Hinton 1845 1851 Daniel W. Courts 1851 1863 Jonathan Worth 1863 1865 Jonathan Worth, Provisional Treasurer June 12, 1865 Nov. 16, 1865 William Sloan Nov. 16, 1865 Jan. 1, 1866 Kemp P. Battle Jan. 1, 1866 July 8, 1868 David A. Jenkins July 8, 1868 Nov. 22, 1876 Jno. M. Worth Nov. 22, 1876 Jan. 21, 1885 Donald W. Bain Jan. 21, 1885 Nov. 16, 1892 Samuel McD. Tate Nov. 16, 1892 Jan. 23, 1895 William H. Worth Jan. 23, 1895 Jan. 15, 1901 Benjamin R. Lacy Jan. 15, 1901 Feb. 21, 1929 Nathan O'Berry Feb. 23, 1929 Jan. 6, 1932 John P. Stedman Jan. 7, 1932 STATE OF NORTH CAROLINA Raleigh Treasury Department November 12, 1932 Governor 0. Max Gardner, Raleigh, North Carolina. Sir: I submit herewith the report of the operations of the State Treasurer for the fiscal years ending June 30, 1931, and June 30, 1932, for trans-mittal to the General Assembly. The schedules of receipts and dis-bursements in this report I think are clear and need no explanation. The bonded dept of North Carolina as of November 12, 1932, is as follows: General Fund Bonds $ 46,787,000 Highway Bonds 108,287,000 Public School Building Bonds 15,335,000 World War Veterans Loan Bonds 2,500,000 Total $172,909,000 All of these obligations, with the exception of the General Fund Bonds, are taken care of by special payments and special taxes. For instance, the Highway Bonds are being paid by license and gasoline taxes; the Special School Building Bonds are being paid by repayment of loans by the counties; the World War Veterans Loan Bonds are being paid by veterans who have borrowed money from this fund. The last Legislature instructed the Highway Department to repay certain counties for highways built by those counties. There is due to these counties on account of the contracts entered into by the High-way Department $4,025,971. The State at present owes $12,502,371 on short time notes, $5,727,000 of this was loaned to the State by North Carolina Banks. This makes a total indebtedness of the State of $189,437,342. After studying the duties of this office, I make the follo\\ing recom-mendations : First, that the Legislature authorize the Treasurer to issue short P term serial bonds to cover the existing deficit and the deficit that T\dll J^ exist at the dnd of this fiscal year. l> JO Report of State Treastjree Second, that only bonds to fund the present deficit be issued. I do not think it is advisable to issue bonds for any permanent improve-ments at this time. Third, that Highway Funds and General Fund be combined. At present there are several funds. When there is a surplus in one fund and a deficit in the other fund, and when it is necessary to borrow money the combined funds are not considered by our creditors. The fund in which a deficit is shown is criticized by our creditors and a rate of interest for borrowed money is based on that particular fund and not on the combined fund. It is my opinion that a cheaper rate of interest can be obtained in borrowing money by a combined fund. In view of the fact that all the moneys in the State Treasury' belong to the State, the money should be used for a common purpose. I think a provision should be made that the revenues from the sale of auto-mobile license tags and gasoline taxes be first used to pay the debt service of the Highway Bonds, and any funds from these two sources of revenue after making these payments be used as the Legislature may provide by proper appropriations. Fourth, that the State not assume any additional burden of cost of local government. This is absolutely necessary if we are to finance our present deficit. I do not refer to fifteen cent ad valorem taxes. Fifth, that the collection of automobile license tags be December 1 instead of January 1. The State has large obligations to pay January 1. It is impossible to collect funds that are due January 1 in time to get the benefit of these collections. Sixth, that the Treasurer be appointed a member of each board in the State in which money is spent or allotments made, or which have the responsibility of gathering information or raising revenues. The Treasurer is the fiscal "agent of the State. He should be on boards, such as the Budget Commission, the Highway Commission, Tax Com-mission, and the Board of Equalization. This is necessarj- in order that the Treasurer could properly advise those boards of the financial condition of the State, and in order that he may be informed as to anticipated expenses and receipts. Seventh, that all appropriations of the State be put under the super-vision of the Director of the Budget. While during the past year a cut of an average of eight per cent shows on the legislative appropria-tions, the colleges, eleemosj^nary institutions and departments received a thirty per cent cut, because those appropriations and those alone could be reduced in order to adjust expenditures to income. Report of State Treasurer Eighth, that a revenue bill be enacted as early as possible and appropriations be made in order that the Treasury can take steps to repay the current short time borrowings. Ninth, that the rate of interest for State funds in State banks be reduced. The present rate that banks in North Carolina are paying for State's funds is 2}4% on daily balances. These funds are all secured. I think the rate is entirely too high, considering that the funds are secured. In closing, I desire to express my sincere appreciation, first, to the Governor of the State, O. Max. Gardner, for his cooperation. It would have been impossible to borrow the amount of money that the State has been able to borrow except for his leadership and assistance. His foresight as Director of the Budget in curtailing the appropriations during his administration is responsible in a large measure for the ability of the State to borrow. But for his firm stand for economy in making these drastic cuts, I believe it would have been impossible for the State to continue on a cash basis. To no man is the State more deeply indebted. Second, I wish to acknowledge with deep gratitude the assistance of the North Carolina banks who so generously came to the aid of the State in making loans to the State at this time. Third, may I not acknowledge with deep gratitude the assistance that has been rendered me since the short time I have been in office by the force in the Treasury Department. I am firmly convinced that there is no more loyal force in the employment of the State govern-ment. I am especially indebted to Major W. F. Moody, Deputy Treasurer, who on account of his years of experience in his present office, has been of invaluable assistance to me. Respectfully submitted, John P. Stedivlin, State Treasurer. Repoet of State Treasurer TREASURY DEPARTMENT CONSOLIDATED COMBINED STATEMENT Receipts and Disbursements toe two Fiscal Years Ending June 30, 1931 , and 1932 Receipts CaBh Balance July 1, 1930 $ 12,958,200.64 General Fund: Tax Revenue: Schedule "A" Inheritance Tax $ 1,4£6,380.70 Schedule "B" License Tax_- 3,689,335.11 Schedule "C" Franchise Tax 11,358,809.76 Schedule "D" Income Tax.. 13,388,081.54 Ad Valorem and Poll Tax.. 3,354,293.36 Miscellaneous 479,261.86 Non Tax Revenue 2,431,224.19 $36,197,386.52 Departments and Institutions.... 10,972,319.22 $47,169,705.74 Special Funds: Tax Revenue 51,403,073.59 Non Tax Revenue.. 9,360,488.60 Surplus Cash Investment 1,013,781.75 61,777,343.94 Debt Service Transfers 16,587,853.05 $78,365,196.99 125,534,902.73 Bond Sales, Note Sales and Renewals 29.009,371.00 $167,502,474.37 Disbursements General Fund: Departments, Boards and Commissions.-.. 4,518,822.36 Judiciary 762,739.49 I^egislature 247,284.53 Pensions 1,892,146.23 Public Schools 23,619,258.79 Educational Institutions 11,418,779.93 Charitable Institutions 2,866,882.94 Correctional Institutions 2,935,181.26 48,261,095.53 Debt Service 6,621,957.04 Refunds 471,215.13 Sinking Fund Contributions 585,910.00 55,940,177.70 Special Funds: Departments 1,683,659.08 Highways 57,581,701.91 Surplus Cash Investments 1,021,781.75 Permanent Improvements 2,618,394.83 Public School Loan Fund 874,604.75 Veterans Loan Fund 900,047.35 Sinking Fund Investments 3,499,525.82 Debt Service 16,631,896.67 84,811,612.16 Fund Transfers 2,121,900.37 86,933,512.53 142,873,690.23 Notes Paid and Renewed - 16,400.000.00 Cash Balance June 30, 1932 - 8,228,784.14 $167,502,474.37 Report of State Treasurer TREASURY DEPARTMENT CONSOLIDATED STATEMENT Receipts and Disbuhsements Fiscal Year Ending June 30, 1£31 Receipts Cash Balance July 1, 1930 S 12,958,200.64 General Fund: Tax Revenue: Inheritance Tax, Schedule "A" $ 1,013,828.85 License, Schedule "B" 1,333,688.70 Franchise, Schedule "C"—. 4,688,907.62 Income, Schedule "B" 6,128,677.03 Miscellaneous 385,045 .22 Non Tax Revenue 1,063,065.95 514,613,213.37 Departments and Institutions 5,778,044.13 820,391,257.50 Special Funds: Tax Revenue 25,748,193.17 Non Tax Revenue 4,318,265.22 Surplus Cash Investments 1,013,781.75 31,080,240.14 Debt Service Transfers 7,463,468.19 38,543,708.33 58,934,965.83 Bond Sales, Note Sales and Renewals 16,807,000.00 Total Receipts $ 88,700,166.47 Disbursements General Fund: Departments, Boards and Commissions 2,531,639.64 Judiciary.- 389,434.90 Legislature 234,571.52 Pensions 930,983.73 Education 12,657,336.51 Charitable and Correctional Institutions- 3,054,825.59 19,798,791.89 Debt Service 3,235,820.65 Refunds 106,314.73 Sinking Fund Contributions 319,190.00 23,460,117.27 Special Funds: Departments 736,801.22 Highways 28,732.742.57 Permanent Improvements-.. 969,131.57 Public School Building Loans 764,378.28 Veterans Loan Fund - 226,031.15 North Carolina Park Fund 1,171,688.59 Surplus Cash Investments 1,013,157.16 Sinking Fund Investments 2,397,046.20 Debt Service 7,931,750.42 43,942,727.16 67,402.844.43 Notes paid and renewed 12,600,000.00 Cash Balance June 30. 1931 8,697,322.04 Total Disbursements- $ 88,700,166.47 10 Report of State Treasurer report of state treasurer Receipts foe Fiscal Year Ending June 30, 1931 Balance July 1. 1930 $ 12,958,200.64 General Fund: Tax Revenue: Blue Sky (Capital issue).... % 16,211.89 Corporation Tax State Department 73,020.76 Fees: Attorney General $ 520.00 Executive Department 6,957.55 Insurance Department 16,205.10 State Department 1,071.95 24,754.60 Bus Tag Tax: Income Tax 6,128,677.03 Inheritance Tax.... 1,013,828.85 Interest on Bank Balances 260,683.77 Seal Tax: Governor s Office. 7,608.00 State Department. _. 343.00 7,951.00 Schedule "B" Miscellaneous License 1,333,688.70 Schedule "C" Franchise, etc . 4,688,907.62 Trade Mark Registration 213.90 Penalties State Department 2,209.30 Total General Fund Revenue SIS, 550, 147.42 Non Tax Revenue: Railroad Dividends: Atlantic & N. C. R. R._.. 44,331.00 North Carolina R. R 210,014.00 254.345.00 Spanish American War Balance 17,637.46 Books, Sale of: Laws and Journals 625.12 Supreme Court Reports... 8,225.08 8,850.20 Collected for General Fund from .Special Funds: Gasoline and Oil Inspection. 742,233.29 Highway Maintenance 40,000.00 782,233.29 Refunds: Attorney General S 192.40 Auditor's Department 3,021.34 Bond Sale, Expense of 6,719.90 Board of Charities and Pub-lic Welfare 28.35 Budget Bureau 3,000.00 Fugitive from Justice 5.00 Governor's Mansion 15.68 Governor's Office 65.00 Historical Commission 495.61 National Guard... 7,413.37 N. C. Corporation Commis-sion 284.15 N. C. Library Commission.. 299.39 Pensions.. 315.00 Public Buildings and Grounds 16,394.45 Report of State Treasurer 11 Revenue Department S 78.77 State Library 417.17 Tax Commission... 4.10 Tax Reduction Fund 8,489.67 Vocational Education In-dustrial Rehabilitation 347.72 $ 47,577.07 Total General Fund Non Tax Revenue $ 1,110,643.02 Departments and Institutions carried in General Fund: Appalachian State Teachers College... 107,120.25 Board of Education 6,446.66 Caswell Training School 4,284.51 Cherokee Indian Normal School 5,645.73 Conservation and Development 363,724.96 Division of Coastal Fisheries 48,621.90 East Carolina Teachers College 232,467.04 East Carolina Industrial Training School 50.00 Elizabeth City Normal School 29,004.75 Fayetteville Normal School 33,518.24 Home Industrial School for Girls 1,838.67 Industrial Farm Colony for Women 211.87 Insurance Department 18,715.09 Morrison Training... 944.21 Negro A. & T. College. 68,179.44 N. C. College for Women 708,021.31 N. C. A. & E. College 927,066.85 N. C. School for Deaf 8,532.23 N. C. School for Deaf and Blind... 13,521.93 N. C. College for Negroes 37,535.24 N. C. Board of Health 99,325.83 N. C. Industrial Commission 22,885.91 Orthopaedic Hospital 2,038.37 Public Printing and Supplies 57,428.67 State Hospital, Goldsboro 16,981.09 State Hospital, Morganton 14,969.12 State Hospital, Raleigh 43,444.37 State Prison 1,037,035.44 Stonewall Jackson Training School 3,344.86 Tuberculosis Sanatorium 147,610.57 Tuberculosis Sanatorium Extension 956.57 148,567.14 University of North Carolina 1,511,104.16 Vocational Education 38,019.20 Western Carolina Teachers College 69,006.53 Winston-Salem Teachers College 50,865.49 Total Receipts Departments and Institutions 5,730,467.06 Total General Fund Including Departments and Institutions ? 20,391,257.50 Special Funds; Tax Revenue: Agricultural Department 375,450.14 Banking Department 52,026.17 Highway Funds: Automobile License 6,260,019.80 Gasoline Tax 12,997,358.49 Miscellaneous Receipts Maintenance 411,112.50 Jliscellaneous Receipts Construction 5,481.073.34 12 Report of State Treasurer Tolls Cape Fear River Bridge $ 95,970.25 Tolls Chowan River Bridge 75,182.48 $25,320,716.86 Total Special Tax Revenue S 25,748.193.17 Non Tax Revenue: Bua Depository... 2,09,^80 Civil Engineers and Land Surveyors 2,601.50 County School Attendance Fund 20.50 Federal Funds; Forest Reserve 10,074.04 N. C. A. & E. College 33,500.00 Negro A. & T. College.... 16,500.00 60,074.04 Land Titles Assurance of 75.32 Insurance Department 43,055.42 Interest Accrued and Pre-mium from Bond Sales: General Fund Bonds 4,206.50 Highway Construction Bonds 1,240.00 Cape Fear River Bridge Bonds 14,554.17 20,000.67 Motor Vehicle Bureau 135.00 N. C. Real Estate Commission 4.304.80 N. C. Fair 71,449.91 Rockefeller Funds: Negro Welfare 3,900.00 School Attendance Fund.- 1,377.30 5, 277. .30 Rodman Trust Fund 1,681.00 Rosenwald Negro Welfare Fund 100.00 Sinking Funds: State Highway No. 1 139,349.14 State Highway No. 2 756,726.08 Public Sch. Bldg. No. 3... 42,731.33 Public Sch. Bldg. No. 4._. 69,797.36 Charitable & Edu. No. 5.. 249,042.89 Charitable & Edu. No. 6.. 101,881.77 Charitable & Edu. No. 7-. 109,436.32 1,468,964.89 County Loan Trust (S) Fund 84,233.77 Building Funds, Fire, Loss, etc.: E. Carolina Training Sch... .500.00 Elizabeth City Normal Sch. 500.00 N.C. Sch. for Blind, Raleigh 1,017.34 Negro A. & T. College i0,865.13 State's Prison _ 7,500.00 State Hospital, Goldsboro.. 42.06 State Hospital, Morganton 352.00 Stonewall Jackson Tr. Sch.. 13,132.16 University of N. C 67,913.78 W. Caro. Teachers College. 3,994.46 N. C. School for Deaf.. 2.50.00 N. C. College for Negroes... .500.00 106,566.93 State Board of Education: Loans for Bldg. Sch. Houses. 270 , 246 . 22 Sale of Swamp Lands 2,018.70 272,264.92 Report of State Treasurer 13 State Warehouse System $ 58,369.67 Weights and Measures 2,895.00 World War Veterans Loan Fund 224,097.33 Transfer for Motor Vehicle Bureau. 468,047.12 Public School Building Loans: Payment Loans Laws 1921.. 358,183.49 Payment Loans Laws 1923.. 359,397.90 Payment Loans Laws 1925.. 471,837.61 Payment Loans Laws 1927.. 232,535.33 1,421,954.33 Total Non Tax Special Fund Receipts $ 4,318,265.22 Surplus Cash Investments 1,013,781.75 Total Special Fund Receipts $ 31,080,240.14 Debt Service Transfers: Highway Interest 4,873,777.92 Chowan River Bridge Interest 23,375.00 Cape Fear River Bridge Interest 12,395.83 Public School Building Interest 316.000.00 Veterans Loan Interest 75,319.44 Highway Bond Redemption 2,162,600.00 7,463,468.19 Bond Sales: Education and Charitable Institutions Permanent Improvement Laws 1927 4,307,000.00 Cape Fear River Bridge 1,250,000.00 Highway Construction Bonds 4,000,000.00 9,557,000.00 Note Sales and Renewals 7,250,000.00 Total All Receipts $ 88,700,166.47 Disbursements for Fiscal Yeah Ending June 30, 1931 General Fund Disbursements: Administration Departments, Boards and Commissions: Aycoclj Statute ? 2,250.00 Board of Elections 13,220.91 Board of Charity and Public Welfare: Administration. S 34,479.95 Child Welfare Commission.. 25,733.56 Mothers' Aid 44,079.38 104,292.89 Budget Bureau 59,114.57 Bureau of Labor and Printing 32,835.19 County Advisory Commission 11,897.39 Conservation and Develop-ment Administration 482,375.22 Division of Coastal Fisheries 50,581.47 532,956.69 Division of Purchase and Contract 861.05 Division of Personnel j 730.51 Gasoline and Oil Inspection 66,583.30 Historical Commission 28,339.44 Insurance Department 106,823.69 Local Government Commission 7,102.34 Fire Protection Smoky Mountain National Park 1 ,321 .02 National Guard 163,890.59 N. C. Board of Health: .\dministration : 472,296.25 Orthopaedic Clinics 8,000.00 480,296.25 14 Report of State Treasurer N. C. Library Commission $ 19,815.38 N. C. Industrial Commission 78,858.33 N. C. Corporation Commission: Administration 51,311.01 Special Rate Work 21,159.29 72,470.30 Public Buildings and Grounds: Capital and Caswell Squares 117,598.22 Gov.'e Mansion and Grounds 11 , 195 .86 128,794. Public Printing and Supplies 54,860.78 Revenue Department 224,393.74 Salary and Wage Commission.. 2,742.93 State Library 9,764.48 Transportation Commission 693.79 Tax Commission. 28,464.25 S 2,233,403.89 Contingency and Emergency: Bonds Expense of Sale 11,927.17 Funeral Expenses... 35.40 Sinking Fund Commission 5,929.78 National Guard Special Duty 431.92 18,324.27 Executive Departments: Auditor's Department 48,393.70 Attorney General 18,084.85 Department of Education 121,589.64 Executive Council 10,609.77 Governor's Office 20,577.16 State Department .- 21,830.60 Treasury Department 32,765.27 273,850.99 Judiciary: Judicial Conference 391.30 Supreme and Superior Courts 376,458.56 Supreme Court Reports 12,485.04 Uniform Laws Conference 100.00 389,434.90 Legislature: General Assembly... 234,571.52 Pensions: Soldiers and Widows 918,839.50 Inmates Soldiers Home 366.00 Disabled Soldiers. 7,377.50 W. T. Reaves 900.00 I. C. Blair 600.00 Olivia B. Grimes 650.00 Pension Investigation, M. W. Gantt.... 2,250.73 930,983.73 State Aid and Subsidies: Bennett Memorial 50.00 Confederate Cemetery 500.00 Confederate Museum 250.00 Firemen's Relief Fund: Volunteer Ass'n White 1,875.00 Volunteer Ass'n Colored. . 625 .00 2 , 500 . 00 Fugitives from Justice Spanish American War Veterans. Tubercular Cattle 1,465.55 72.50 1,222.44 6,060.49 Report of State Treasurer 15 Debt Service: Interest: 4% Bonds .- $250,794.00 414% Bonds 457,130.00 43^^% Bonds 498,577.50 4M% Bonds 360,168.75 5% Bonds 368,050.00 Short Term Notes 203,100.40 $2,137,820.65 Bond Redemption: 4% Funding Bonds.. 100,000.00 4M% Debit Balance Bonds 998,000.00 1,098,000.00 $3,235,820.65 Educational, Charitable and Correctional Institutions: Education: Appalachian Teachers Col. 155,802.54 Cherokee Indian Nor. Sch. 28,438.81 E. Caro . Teachers College. 385 , 599 . 36 N.C. College for Women_. 1,057,605.59 N. C. School for Deaf 119,599.91 N. C. School for Blind.... 128,352.40 N.C. College for Negroes.. 79,219.54 Negro A. & T. College.... 120,226.29 Normal School, Fayette-ville 5,992.38 Normal School, Elizabeth City 56,437.47 State College of A. & E._. 1,441,168.63 University of N. C 2,197,400.48 W. Caro. Teachers College 122,427.60 Winston- Salem Teachers College 86,990.66 Total Educational 6,045,261.66 Public Schools: Equalizing Fd. to Counties 6 , 353 , 819 . 28 Farm Life Schools 16,660.00 Rural Libraries 6,500.00 Teachers Training _. 40,226.24 Vocational Education Re-habihtation 14,508.35 Vocational Education 180,360.98 Total Public Schools 6,612,074.85 Charitable Institutions: Caswell Training School-. 141,206.40 Conf. Women's Home 11,699.08 Orthopaedic Hospital 98,015.61 Oxford Orphanage, White. 30,000.00 Oxford Orphanage, Colored 27,500.00 Soldiers' Home 32,529.48 State Hospital, Goldsboro 228,065.09 State Hospital, Morganton 321 , 944 .60 State Hospital, Raleigh... 375,217.81 Tuberculosis Sanatorium. 290,816.06 Total Charitable Institutions 1,556.994.13 16 Report of State Tbeasurer Correctional Institutions: E. Caro. School for Boys. $ 37,416.37 Efland School for Women. 2,000.00 Training School for Girls-- 87,911.39 Farm Colony for Women-- 15,891.02 Morrison Training School- 32, 126.87 Jackson Training School.- 124, 907 . 10 State Prison 1,197,578.71 Total Correctional Institutions $ 1,497,831.46 Total Educational, Charitable and Correctional Institutions $15,712,162.10 Refunds: Revenue Department: Inheritance Tax --- 21,667.41 Licenses 21,335.18 Franchises 10,604.00 Income 51,313.29 104,919.88 State Department: Corporation Tax 991.65 Fees and Seals 14.20 Trade Mark Registration 1.00 1,006.85 Executive Department: Fees 15.00 Seals 15.00 30.00 Insurance Fees . 358.00 106,314.73 Sinking Fund Contribution -- 319,190.00 Total General Fund Disbursements including institutional, departments and com-missions income % 23,460,117.27 Special Funds Disbursements: Agriculttu-al Department: Administration 428,925.27 Weights and Measures 3,449.12 432,374.39 Automobile Funds: Highway Maintenance 16,801,118.01 Motor Vehicle Bureau Exp. 412,844.01 Highway Construction-... 11,441,705.16 28,655,667.18 Banking Department 54,991.26 Bus Depository Account 3,568.30 Civil Engineers and Land Surveyors 2,628.81 Insurance Department 41,834.79 N. C. Real Estate Commission 6,163.78 N. C. State Fair 85,503.17 Rodman Trust Fund 1,560.00 Rosenwald Negro Welfare Fund 554.27 29,284,845.95 Federal Funds: State College A. & E.. 33,500.00 Negro A. & T. College 16,500.00 Forest Reserve Fund 10,074.04 60,074.04 Report of State Treasurer 17 Rockefeller Funds: School Attendance $ 2,192.83 County School Attendance 33.93 Negro Welfare 3,974.17 $ 6,200.93 Interest and Bond Curtail: Interest: Highway Notes _... 104,032.92 Chowan River Bridge— 23,098.75 Highway - 4,408,223.75 Public School 668 , 601 . 25 Veterans Loan... 79,793.75 5,283,750.42 Bonds Paid: Public School Building Bonds 498,000.00 Highway Construction Bonds 2,150,000.00 7,931,750-42 Permanent Improvements: Appalachian Teachers College 21,535.03 Caswell Training School 8,552.43 Eastern Carolina Teachers College 82,705.53 Eastern Carolina Industrial School-- 7,336.50 Home Training School for Girls and Women. 1 1 , 024 .69 Industrial Farm Colony for Women 7,325.72 Inland Waterway 11,904.27 Morrison Training School 2,813.06 North Carolina College for Women 43,020.69 North Carolina College for Negroes 7,057.35 Negro A. & T. College 130,444.68 Elizabeth City Normal School 70.80 Cherokee Indian Normal School 13,298.18 North Carolina School for Deaf 3,629.97 North Carolina School for Deaf and Blind. 212,377.38 Orthopaedic Hospital 94.34 State A. & E. College 21,439.25 State Hospital, Goldsboro 703.42 State Hospital, Morganton 23,994.94 State Hospital, Raleigh 21,973.73 State's Prison 1,702.89 Stonewall Jackson Training School 13,541.37 Smoky Mountain Park 1,171,688.59 Tuberculosis Sanatorium 11,413.81 University of North Carolina 245,790.06 Western Carolina Teachers College 65,360.11 Winston-Salem Teachers College 21.37 2,140.820.16 State Warehouse System 41,347.48 Surplus Investment Account 1,013,157.16 World War Veterans Loans: Bureau Maintenance 22,381.21 Loans made 118,010.00 Interest 85,639.94 226,031.15 Board of Education: Literary Fund: Loans for Building School Houses 271 ,000.00 Salaries and Expenses 10,578.13 281,578.13 18 Report of State Treasurer Sinking Fund Investments: Highway No. 1 — $ 239,205.69 Highway No. 2 1,154,291.69 Public School No. 3 28,041.49 Public School No. 4 15,659.34 Edu. and Char. Inst. No. 5 413,034.31 Edu. &Char. Inst.No.e.. 143,908.39 Edu. and Char. Inst. No. 7 117,255.92 $2,111,396.83 County Loan Fund No. 8 285,649.37 §2,397,046.20 State Public School Building Loans: Re-loaned under Laws 1925 8,878.61 Interest - 215,650.00 Re-loaned under Laws 1927 148,240.79 Interest - 103,959.00 Refunds—Laws 1923 2,773.75 Refunds—Laws 1921 3,388.00 482,800.15 Fund Transfers to pay Interest and Note Curtail: Cape Fear River Bridge 51,641.98 Chowan River Bridge- 25,433.41 77,075.39 Total Special Fund Disbursements S 43,942,727.16 Notes Paid and Renewed. 12,600,000.00 Cash Balance June 30, 1931 8,697,322.04 Total all DisbursementB.-.- -. $ 88,700,166.47 Report of State Treasurer 19 treasury department consolidated statement Receipts and Disbursements Fiscal Year Ending June 30, 1932 Receipts Cash Balance July 1, 1931.— - - $ 8,697,322.04 General Fund: Tax Revenue: Schedule "A" Inheritance Tax.S 482,551.85 Schedule "B" License Tax 2,355,646.41 Schedule "C" Franchise Tax... 6,669.902.14 Schedule "D" Income Tax 7,259,404.51 Ad Valorem and Poll Tax 3,354,293.36 Miscellaneous .., 94,216.64 Non Tax Revenue 1,368,158.24 $21,584,173.15 Departments and Institutions 5,194,275.09 $26,778,448.24 Special Funds: Tax Revenue 25,654,880.42 Non Tax Revenue 5,042,223.38 30,697,103.80 Debt Service Transfers. 9,124,384.86 39,821,488.66 $66,599,936.90 Bond Sales, Note Sales and Renewals 12,202,371.00 $ 87,499,629.04 Disbursements General Fund: Departments, Boards and Com-missions S 1,987,182.72 Legislature 12,713.01 Judiciary 373,304.59 Pensions 961,162.50 Educational Institutions 5,373,518.27 Charitable Institutions 1,309,888.81 Correctional Institutions 1,437,349.80 Public Schools 17,007,183.94 28,462,303.64 Debt. Service 3,386,136.39 Refunds 364,900.40 Sinking Fund Contribution 266,720.00 32,480,060.43 Special Funds: Departments 955,482.45 Highways 28,848.34 Permanent Improvements 477,574.67 Public School Loan Fund 110,226.47 Veterans Loan Fund 674,016.20 Sinking Fund Investments 1,102,479.62 Debt Service 8,700,146.25 40,868,885.00 Fund Transfers 2,121,900.37 42,990,785.37 75,470,845.80 Notes Paid and Renewed 3,800,000.00 Cash Balance June 30. 1932 8,228,784.14 $ 87,499,629.94 20 Report of State Treasurer REPORT OF state TREASURER Receipts for Fiscal Year Ending June 30, 1932 Cash Balance July 1, 1931.. - $ 8,697,322.04 General Funds: Tax Revenue: Blue Sky Taxes $ 8,820.38 Bus Tag Tax 161.50 Corporation Tax State Department 56,439.16 Fees: Attorney General $ 260.00 Executive Department 6,192.00 Insurance Department 14,425.10 State Department 273.30 21,1.50.40 Seal Tax: Governor's Office 6,670.75 State Department 100.00 6,770.75 Schedule "A" Inheritance Tax --- 482,551.85 Schedule "B" License Tax 2,3.55,646.41 Schedule "C" Franchise Tax 6,669,902.14 Schedule "C" Income Tax 7,2,59,404.51 State Public Schools: Ad Valorem Tax 3,136,391.55 Dog Tax 43.54 Poll Tax 217,858.27 3,354,293.36 Penalties State Department 600.00 Trademark Registration. 274.45 Total General Fund Tax Revenue $20,216,014.91 Non Tax Revenue: Board of Accountancy 76.83 Board of Heating and Plumbing Examiners... 649.55 Books, Sale of: Laws and Journals 1,894.69 Supreme Court Reports 6,335.26 8,229.95 Railroad Dividends: Atlantic & N. C. R. R 44,331 .00 North Carolina R. R --.. 210,014.00 254,345.00 Interest on Bank Balances 148,468.22 State Hospital, Morganton Rev. Receipt... 10,668.82 State Prison Revenue Receipts 212,323.10 Collected for General Fund from Special Fund: Gasoline Inspection 647,302.28 Oil Inspection 86,094.49 733,396.77 Refunds: Attorney General 115.50 Auditor's Department 2,536.50 Aycock Statute 22.68 Bond Sale Expense 2,568.60 Board of Charities and Public Welfare 18.66 Budget Bureau 2,624.60 Contingency and Emergency Fund 2,250.73 Report of State Treasurer 21 Division of Standards and In-spection $ 96.50 Fugitives from Justice 67.65 Governor's Office.. 396.79 Governor's Mansion 50.30 Historical Commission 540.67 Industrial Rehabilitation 187.50 Local Government Commission 5 , 100 . 36 N. C. Corporation Commission 28.00 N. C. Library Commission 158.12 Pensions Disabled Soldiers 202.50 Public Buildings and Grounds. 17,330.34 State Library 244.05 Tax Commission 275.93 $ 34,815. Total General Fund Non Tax Revenue. t 1,402,974.22 Departments and Institutions carried in General Fund: Appalachian Normal School 104,961.75 Board of Education 23,434.96 Caswell Training School 3,969.69 Cherokee Indian Normal School 6,410.14 Confederate Women's Home 61.99 Department Conservation and Development: Fees. License and Miscellaneous 256,556.12 Division Coastal Fisheries 27 , 685 . 81 284 , 241 . 93 East Carolina Teachers College 191,184.70 East Carolina Training School. 50.88 Elizabeth City Normal SchooL... 23,684.47 Fayetteville Normal School 30,352.22 Home Industrial School for Girls 1,166.44 Industrial Farm Colony for Women 53.16 Insurance Department 22,558.86 Morrison Training School 280.34 Negro A. & T. CoUege 50,043.52 North Carohna Board of Health 71,946.08 N. C. A. & E. College: Administration 497,911.20 Agricultural Extension 331,687.11 829,598.31 N. C. School for Blind, Raleigh 8,379.50 N. C. School for Deaf, Morganton 6,091 .05 N. C. College for Negroes 34,835.48 N.C. College for Women 603,119.02 N. C. Industrial Commission 24,660.00 Orthopaedic Hospital 1,372.24 Public Printing and Supplies 37,011.97 State Board of Education 2,990.00 State Public Schools 163,827.70 State Department of Revenue 40 , 040 . 00 State Hospital, Goldsboro 9,600.86 State Hospital, Morganton 1,135.27 State Hospital, Raleigh 39,705.21 State's Prison 640,097.06 Stonewall Jackson Training School 4,226.15 Treasury Department 9.89 University of North Carolina: Administration 1,117,901.89 Service Plant 535,029.29 1,652,931.18 22 Report of State Treasurer Tuberculosis Sanatorium: Administration $ 144,382.96 Extension Work 262.69 $144,645.65 Vocational Education 4,095.00 Weights and Measures ., 550.00 Western Carolina Teachers College. 53,402.68 Winston-Salem Teachers College 42,733.76 Total Receipts Departments and Institutions $ 6,159,459.11 Total General Fund Including Departments and Institutions.. $ 26,778,448.24 Special Funds: Tax Revenue: Agricultural Department 279,028.66 Banking Department 56,366.83 Highway Funds: Automobile License 5,602,592.30 Gasoline Tax. 15,172,639.72 Miscellaneous Receipts 2,565,087.28 Highway Construction... 1,813,009.15 25,153,328.45 Tolls Cape Fear River Bridge.. 94,500.05 Tolls Chowan River Bridge.... 71,656.43 166.156.48 Total Special Fund Tax Revenue 25,654,880.42 Non Tax Special Fund Revenue: Bus Depository Account 5,805.00 Civil Engineers and Land Surveyors 2,304.00 Federal Funds: Forest Reserve 4,753.91 N. C. A. & E- College .33, .500. 00 Negro A. & T. College... _ 16,500.00 54,753.91 Governor's Council of Unemployment: Fund "A" 706.49 Fund "B" _-_. 3,102.51 3,809.00 Land Titles, Assurance of 54.75 Insurance Departn ent 37,456.81 Interest Accrued from Bond and Note Sales: General Fund Notes 1,471.82 General Fund Bonds. 1,511.11 Veterans Loan Bonds 1,888.89 4,871.82 Motor Vehicle Bureau Refunds 219.50 Department of Education 75,757.22 N. C. Real Estate Commission. 3,403.00 N. C. State Fair 57, 698. .50 Pension Refunds Soldiers and Widows 4,450.00 Pension Recovery State vs. Gantt 60,100.00 Rodman Trust Fund. 1,766.70 Salary Refunds 579.96 Surplus Cash Investment 8,000.00 Sinking Funds: Highway No. 1 456,431.73 Highway No. 2 322,846.68 Report of State Treasurer 23 Public School Building No. 3.. $ 94,039.38 Public School Building No. 4— 155,308.47 Education and Charitable No. 5 261,619.18 Education and Charitable No. 6 62,711.77 Education and Charitable No. 7 59,532.90 Public School Building No. 9.. 398,486.37 Chowan River Bridge No. 10-_ 94,812.93 Cape Fear River Bridge No. 11 84,665.88 $ 1,990,455.29 102,422.72 State Warehouse System 77,221.61 Building Funds, Fire Losses, etc.: Appalachian Teachers College. 623.95 E. Carohna Teachers College.. 6,520.45 Fayetteville Normal School 25,490.08 Home Industrial Sch. for Girls. 31,250.00 Indus . Farm Colony for Women 150.00 Morrison Training School 265.00 Negro A. & T. College 7,249.51 N. C. Sch. for BHnd, Raleigh.. 486.02 State's Prison 5,000.00 Stonewall Jackson Train. Sch.. 4,123.71 Tuberculosis Sanatorium 1,659.13 University of N. C 3,384.85 W. Carolina Teachers College. 1,997.23 88,199.93 State Board of Education: Loans for Bldg. School Houses. 277,497.32 Sale of Swamp Lands 547.00 278,044.32 Transfer for Motor Vehicle Bureau. 410,193.57 Public School Building Loans: Payment Loans Laws 1921 421,435.05 Payment Loans Laws 1923 461,975.00 Payment Loans Laws 1925 472,211.57 Payment Loans Laws 1927 229,173.75 1,584,795.37 189,860.40 Total Non Tax Special Fund Receints 5,042,223.38 ..$ 30,697,103.80 Debt Service Transfers: Highway Interest 4,760,0.52.50 22,312.50 Cape Fear River Bridge Interest-. 53,125.00 21.25 Public School Building Interest... 685,762.50 103,111.11 2,700,000.00 Chowan River Bridge Bond Redemption 50,000.00 Public School Bond Redemption. 750,000.00 9,124,384.86 Bond Sales: 500,000.00 State's Prison Bonds- 400,000.00 900,000.00 . 11,302,371.00 Total all Receipts .$ 87,499,629.94 24 Repokt of State Treasuber DiSBDRSEMEXTS FOR FiSCAL Year Ending Jcne 30, 1932 General Fund Disbursements: Administrative Departments, Boards and Commissions: Aycock Statue I 12,772.68 Board of Elections 5,935.74 Board of Charities and Public Welfare: Administration, $ 49,431.47 Mothers' Aid 43,351.50 92,782.97 Budget Bureau Bureau of Labor and Printing Child Welfare Commission Commission on University Consolidation Conservation and Development: Administration 306,884.43 Division of Coastal Fisheries. 45, 913 .29 28 925.48 16.45 680.01 9 356.37 352 797.74 Constitutional Commission 2 495.43 Department of Labor: Administration 25,060.35 Division Standards and In-spection 20,440.20 N.C. Industrial Commission. 63,966.32 109,466.87 Division of Purcha.se and Contract 22,555.90 Division of Personnel 12,234.13 Gasoline and Oil Inspection 57,139.65 Historical Commission 24,475.94 Insurance Department 97,056.23 Local Government Commission 45,758.41 Fire Protection Smoky Mountain Park 1,183.17 National Guard 78,402.53 N. C. Board of Health: Administration 334,948.70 Orthopaedic Clinics 6,000.00 340,948.70 N. C. Library Commission 14,719.94 N.C. Corporation Commission: Administration 46,766.13 Special Rate Work 291.66 47,057.79 Public Buildings and Grounds: Capitol and Caswell Squares. 97,514.21 Gov.'s Mansion and Grounds 9,697.14 107,211.35 Public Printing and Cooperative Supplies 24,006.58 Revenue Department 208,718.88 State Library 6,469.57 Tax Commission 18,872.05 Transportation Advisory Commission 127.30 Weights and Measures 4,925.64 $ 1,727,093.50 Contingency and Emergency: Debt Service Expense 5,222.92 Funeral Expense 30.70 National Guard Special Deputy 536.28 5,789.90 Report of State Treasurer 25 Executive Departments: Auditor's Department $ 37,413.17 Attorney General - 17,737.33 Department of Education 111,529.87 Executive Council. 7,760.82 Governor's Office 25,191.25 State Department.. 17,837.57 Treasury Department 29,648.44 S 247,118.45 Judiciary: Supreme and Superior Coiirts 361,834.72 Supreme Court Reports 11,469.87 373,304.59 Legislature:. General Assembly 12,713.01 Pensions: Soldiers and Widows 950,460.00 Inmates Soldiers Home 330.00 Disabled Soldiers 8, 272. .50 W. T. Reaves-. 900.00 I. C. Blair 600.00 Olivia B. Grimes 600.00 961,162.50 State Aid and Subsidies: Bennett Memorial 50.00 Bishop, Claude H., Relief of 96.00 Confederate Cemetery. 500.00 Confederate Museum 250.00 Firemen's Relief Fund: Volunteers Association, White. 1,875.00 Volunteers Association, Colored 625.00 2,500.00 Fugitives from Justice. Tubercular Cattle 1,990.17 1,794.70 Debt Service: Bond Redemption: iH% Debit Balance Bonds.. 1,000,000.00 4% Funding Bonds... 100,000.00 Old Bonds 150.00 Interest : 4% Bonds 440,908.00 4M% Bonds. 426,123.75 4^2% Bonds 520,785.00 iH% Bonds 359,527.50 5% Bonds 393.362.50 Short Term Notes 145,279.64 1,100,150.00 7,180.87 2,285,986.39 3,386,136.39 Educational, Charitable and Correctional Institutions: Educational: Appalachian Normal School. 146,143.37 Cherokee Indian Normal Sch. 21 , 957 .47 E.Caro. Teachers College 316,762.33 N. C. College for Women 868,803.49 N. C. School for Deaf 111,027.55 N. C. School for Blind 107,662.09 N. C. College for Negroes... 62,934.89 Negro A. & T. College 86,862.02 26 Report of State Treasurer Normal School, Fayetteville. S 54,905.02 Normal Sch , Elizabeth City. 41,685.74 State College of A. & E 1,149,085.73 University of N. C 2,232,525.55 W. Caro. Teachers College.- 94,088.70 Winston-Salem Teachers. CoL 79,074.32 $5,373,518.27 Public Schools: Equalizing Fund 8,751.27 Rural Libraries 950.00 Six Month Term 15,868,456.41 Tax Reduction 1,012,627.14 Teacher Training 380.00 Vocational Education, Indus-trial Rehabili tat i on 9 , 093 . ] 5 Vocational Education 106,925.97 17,007,183.94 Charitable Institutions: Caswell Training School 107,930.78 Confederate Women's Home. 11,067.58 Orthopaedic Hospital 81,266.42 Oxford Orphanage, White.... 26,625.00 Oxford Orphanage, Colored.. 24,405.99 Soldiers' Home... 26,001.14 State Hospital, Goldsboro... 179,233.16 State Hospital, Morganton .. 280,257.91 State Hospital, Raleigh. 327,961.24 Tuberculosis Sanatorium.-.. 245,139.59 1,309,888.81 Correctional Institutions: E. Caro. Train. Sch. for Boys 26.864.33 Efland School for Women 1,8-50.00 Home Training Sch. for Girls 81,.547. 03 Industrial Farm Colony for Women 13,770.57 Morrison Training School...- 24,593.83 Stonewall Jackson Train . Sch 92 , 382 . 17 State's Prison.. 1,196,341.87 1,437,349.80 Total Educational, Charitable and Correctional- -- $ 25,127,940.82 Refunds: Revenue Department: Imprest Fund 5,000.00 Inheritance Tax Schedule "A" 55,095.15 License Tax Schedule "B"... 37,330.23 Franchise Tax Schedule "C" 12,401.83 Income Tax Schedule "D".. 100,732.93 210,560.14 State Department: Corporation Tax 899.18 Executive Department: Fees 2.50 Seals . 2.50 5.00 Blue Sky Tax 30.00 Bus Tag Tax 2.50 Insurance Department Fees 34.00 Report of State Treasurer 27 State Public Schools: Ad Valorem Tax $ 65,635.60 Dog Tax 43.54 Poll Tax 86,134.42 $151,813.56 Interest on Bank Balances 1,556.02 $364,900.40 Sinking Fund Contribution 266,720.00 Total General Fund Disbursements, Including Institutions, Departments and Commissions - $ 32,480,060.43 Special Fund Disbursements: Agricultural Department: Administration 319,170.59 Weights and Measures 100.00 319,270.59 Automobile Funds: Maintenance and Construction. 28,491,173.89 Motor Vehicle Bureau 357,785.45 28,848,959.34 Banking Department 61,869.65 Bus Depository Account 3,541.85 Civil Engineers and Land Surveyors 2,393.40 Department of Education : 65,185.53 Governor's Council of Unemployment: Fund "A" — 706.49 Fund "B" 3,099.53 3,806.02 Insurance Department 45,017.15 N. C. Real Estate Commission.. 4,377.82 N. C. State Fair.... 62,225.07 Pension Investigation State vs. Gantt 2,867.23 Rodman Trust Fund. 1,560.00 Rosenwald Negro Welfare Fund.... 78.06 29,421,151.71 Federal Funds: Forest Reserve Fund 4,753.91 Negro A. & T. College 16,500.00 State A. & E. College 33,500.00 54,753.91 Rockefeller Fund School Attendance 138.70 State Warehouse System 88,432.29 Surplus Cash Investment 8,624.59 97,195.58 Interest and Bond Curtail: Interest: Highway Bonds 4,811,518.75 Cape Fear River Bridge Bonds 52 , 190 .00 Chowan River Bridge Bonds. 23,396.25 Public School Bonds 702,710.00 Veterans Loan Bonds 96,731.25 5,686,546.25 Bonds Paid: Public School Building Bonds. 752,000.00 Highway Bonds 2,211,600.00 Chowan River Bridge Bonds... 50,000.00 3,013,600.00 8,700.146.25 28 Report of State Treasurer Permanent Improvements: Appalachian Teachers College. $ 27,086.89 Caswell Training School 10,510.40 Cherokee Indian Normal School 727.07 East Carolina Teachers College 10,690.47 East Carolina Training School 4,481.10 Home Training School for Girls 79,370.73 Industrial Farm Colony for Women 150.00 Inland Waterways 9,096.91 Morrison Training School 377.00 Negro A. & T. College 7,987.14 Negro Normal School, Fayetteville 44,916.46 N. C. A. & E. College 2,724.83 N. C. School for Blind, Raleigh 19,273.96 N. C. School for Deaf, Morganton 11,500.00 N. C. College for Negroes — 271.83 Orthopaedic Hospital 3,351.52 State Hospital, Morganton 355.05 State Hospital, Raleigh 49,877.52 State's Prison 12,035.99 Stonewall Jackson Training School 5,453.00 Smoky Mountain Park 14,338.66 University of North Carolina 162,998.14 $ 477,574.67 World War Veterans Loan Fund: Bureau Maintenance 28,955.09 Loans made 541,950.00 Interest - 103,111.11 674,016.20 Board of Education: Literary Fund: Loans for Building School Houses 223,565.20 Salaries and Expenses. 7,775.39 231,340.59 Sinking Fund Investments: Highway No. 1 1,266.28 Highway No. 2 45,953.75 Public School No. 3 39,980.12 Public School No. 4 70,916.64 Edu. and Char. Inst. No. 5.... 171,412.18 Edu. and Char. Inst. No. 6 46,450.00 Edu. and Char. Inst. No. 7.... 42,731.89 Public School No. 9 .— 358,160.22 Chowan River Bridge No. 10.. 91,212.93 Cape Fear River Bridge No, 11. 81,409.62 949,493.63 County Loan Trust Fund No. 8 152,985.99 1,102,479.62 Public School Special Building Fund: Re-loaned under Laws 1927 86,785.35 Refunds—Laws 1921 4,485.05 Refunds—Laws 1923 3,850.00 Refunds—Laws 1925 6,630.63 Refunds—Laws 1927 8,475.44 110.226.47 Total Special Fund Disbursements $ 40,868,885.00 Report of State Treasurer 29 Fund Transfers: Cape Fear River Bridge Tolls $ 136,148.22 Chowan River Bridge Tolls - - 163,525.43 Public School Special Building for Bonds 750,000.00 Public School Special Building for Interest 685,762.50 Public School Special Building for Sinking Fund 386,464.22 $ 2,121,900.37 Notes Paid and Renewed - 3,800,000.00 Cash Balance June 30, 1932.... 8,228,784.14 Total all Disbursements- .J 87,499,629.94 30 Report of State Treasurer ALPHABETICALLY ARRANGED COMPARATIVE FUND STATEMENT Receipts and Disbursements for Fiscal Years Ending June 30, 1928, 1929, 1930, AND A Five Year Comparison mat be had by Referring to Itemized Receipts AND Disbursements for Fiscal Years Ending June 30, 1931, and 1932 Receipts General Fund: 1928 1929 1930 Tax Revenue: • Blue Sky Tax (Capital issue) .$ 12,069.75 Corporation Tax State Department 111,222.37 Fees: Attorney General. 1,029.25 Governor's Office... 7,734.00 Insurance Department 14,913.45 State Department 732.80 Income Tax: 8,196,049.83 Inheritance Tax 710,636.56 Interest on Bank Balances 566,595.18 Schedule "B" Miscellaneous Licenses. 1,690,539.74 Schedule "C" Franchise, etc 3,382,249.70 Trade Mark Registration. 105.51 Penalties, State Department 1,680.00 Bus Tags .- 384.50 Building and Loan 17,425.07 Seal Tax, Governor's Office 8,241.00 Seal Tax, State Departi. ent 174.00 Non Tax Revenue: Atlantic & N. C. R. R. Dividends 47,497.50 N. C. R. R. Dividends 210,014.00 Civil War Claim Settlement Laws and Journals, Sale of 3,122.65 Supreme Court Reports, Sale of 8,554.26 Gasoline and Oil Inspection Transfers 747,690.25 Revenue Department from Highway Funds Board of Elections 2,100.00 Indigent Pupils 2,676.74 Incendiary Fire Fund 405.60 Public Printing 70,746.92 62,219.73 Refunds: Attorney General 901.68 Auditor's Department 2,803.30 Board of Education 2,000.00 Bond Sale Expense 24,721.13 Board of Charities and Welfare Budget Bureau Central Telephone Exchange 4,276.25 Contingencies Child Welfare Commission 9.10 Department of Conservation... 180.43 Fugitives from Justice 177.63 Fire Prevention 223.25 Governor's Mansion 61.40 Historical Commission Indigent Pupils Insurance Department 73.28 Legislature Motor Vehicle Bureau 1,714.97 National Guard 55,790.80 N. C. Corporation Commission. 225.90 10,002.32 $ 16,382.68 163,691.24 193,167.26 404.70 189.25 7,408.75 7,244.75 16,547.25 18,561.15 1,389.60 398.40 7,686,280.43 7,290,909.28 1,016,927.28 1,385,525.45 418,203.94 239,635.57 1,508,393.80 1,793,204.95 3,691,088.34 4,874,602.67 186.00 345.10 1,340.00 2,390.00 164.50 157.50 40,998.62 8,076.25 7,851.25 538.60 150.50 44,331.00 44,331.00 210,014.00 210.014.00 118,035.69 3,053.83 1,934.98 6,844.15 4,589.08 701,873.85 707,235.79 40,000.00 40,000.00 3,420.00 900.00 184.20 2,633.75 7,730.00 5,056.91 3,277.08 1,169.17 9,030.74 46.67 210.00 625.00 4,329.50 1,668.57 6,958.65 65.00 154.03 15.00 350.00 67.27 746.25 437.76 431.94 1,124.29 330.41 1,021.43 17,873.65 60.00 2,713.47 483.35 38,556.85 30.60 182.54 Report of State Treasurer 31 N. C. Board of Health— $ 501.21 Negro A. & T. College 89.61 Pensions 1,545.00 Public Building and Grounds. _-. _. 14,667.04 Public Schools Reveiiue Department State Department 9.12 Supreme Court State Hospital, Goldsboro.. ._ 50.24 Tax Commission Treasury Department 4.10 Tubercular Cattle Vocational Education 8,342.27 Watts, A. D., Relief of Departments and Institutions carried in General Fund: Appalachian Teachers College 82,044.09 Board Charities and Welfare 241.70 Confederate Women's Home Caswell Training School 5,265.05 Cherokee Indian Normal School 6,236.99 Conservation and Development 336,473.32 Department of Education 11,625.84 East Carohna Teachers College 199,768.73 East Carohna Industrial School 180.00 Elizabeth City Normal School 44,939.00 Fayetteville Normal School 42,252.76 Industrial Farm Colony for Women Industrial School for Women and GirLs 2,421.42 Laboratory of Hygiene 34,878.17 Morrison Training School .- 2,225.41 N. C. College for Women 736,037.05 Negro A. & T. College 89,651.20 N. C. College A & E 565,441.77 N. C. School for the Deaf 5,616.46 N. C. School for Deaf and Blind. 14,402.44 N. C. College for Negroes 32,039.29 N. C. Board of Health 14,964.36 N. C. Library Commission 245.26 N. C. Historical Commission 508.49 N. C. Industrial Commission Orthopaedic Hospital 2,072.50 State Library 158.43 State Hospital, Goldsboro 9,384.70 State Hospital, Morganton 17,576.70 State Hospital, Raleigh 40,574.49 Soldiers' Home 100.00 State's Prison 706,301.28 Stonewall Jackson Training School. 8,865.56 Tuberculosis Sanatorium 123,717.53 University of North Carolina 564,888.54 Vocational Education 990.00 Western Carolina Teachers College 73,193.04 Winston-Salem Teachers College 42,441.80 Special Funds: Agricultural Department; Gasoline and Oil Inspection 711,175.19 767,255.34 66,618.55 Fertilizer and Miscellaneous 495,131.30 495,247.21 440,341.21 $ 13,325.45 .$ 300.00 17,384.15 153.25 4,105.00 9.90 117.73 178.89 400.00 671.67 4.17 5,474.65 467.25 869.28 78,931.02 86,5.59.87 2,000.00 7,889.90 5,722.04 8,131.01 6,385.70 449,140.68 452,970.49 242,998.48 239,320.20 270.02 125.00 36,700.75 38,186.34 44,597.69 38,465.74 78.32 783.24 2,247.50 30,993.54 23,815.51 1,794.47 964.57 753,328.93 747,113.27 75,449.15 81,718.19 531,275.58 772,694.20 8,392.14 9,795.53 19,923.27 15,012.42 33,731.40 30,689.97 32,664.26 45,989.64 538.50 640.47 14,577.03 2,783.88 2,672.63 368.83 322.70 12.991.65 17,173.82 19,065.45 11,050.33 39,408.24 49,854.96 740,632.36 803,756.76 6,794.14 6,153.86 138,372.55 161,339.68 525,058.74 1,458,477.03 1,384.50 1,491.61 71,140.03 71,341.90 45,954.12 54,341.12 32 Report of State Treasurer Highway Funds: Automobile Licenses $8,370,284.88 $7,016,781.88 $ 7,059,360.34 Gasoline Tax 9,678,518.83 10,722,187.90 13,506,985.88 Tolls Chowan River Bridge - 50,701.66 65,096.16 78,139.60 Tolls Cape Fear River Bridge 48,743.08 Interest accrued in Bond Sale... 87,440.63 64,885.45 Miscellaneous Highway Commission 2,607,741.21 Bank Examination Fees 58,929.81 55,081.10 55,574.67 Bus Deposits 5,101.00 1,800.00 4,711.50 Building Fund, Fire Loss, etc 40,033.33 86,206.37 141,077.57 Board of Education (Literary Fund) 293,492.81 300,487.39 308,664.15 Civil Engineers and Land Surveyors- 3,688.00 3,849.75 3,298.10 County Loan Highway Fund 852,680.26 399,552.09 446,715.36 Debt Service Transfers 5.706,388.80 6,766,804.56 7,393,624.62 Emergency Loan ..- 47,227.25 Federal Funds 43,530.86 88,601.99 57,654.80 Insurance Department 170,634.04 158,316.74 46,728.64 Land Titles, Assurance of 140.04 52.72 54.35 N. C. Real Estate Commission... 5,455.00 8,747.25 6,755.00 N. C. State Fair . 200,000.00 37,613.99 128,511.86 N. C. Board of Health, M. and I — 22,260.00 Xotes, Resale Highway 4,250,000.00 Public School Building Loans.. 1,434,266.27 1,578,816.27 1,553,480.31 Rodman Scholarship Foundation ..- 1,873.24 1,708.01 Rosenwald Negro Welfare Foundation.. 2,850.43 5,453.68 Rockefeller Funds 19,177.00 18,056.19 5,700.25 Sinking Funds 462,213.47 1,010,321.06 2, 222, .570. 74 State's Prison, Debt, Amortization 949.14 State Warehouse System 98,537.89 42,086.51 58,209.48 World War Veterans Loan 2,125,194.18 267,887.92 238,843.10 Weights and Measures 4,616.00 Bond Sales 17,100,000.00 8,970,000.00 Note Sales and Renewals 5,600,000.00 18,700,000.00 13,600,000.00 Total Receipts .$77,661,573.35 $68,311,852.51 $ 81,399,762.83 Disbursements General Fund: Auditor's Department ._ ..$ 47,668.72 $ 52,172.54 $ 54,687.84 Attorney General- 19,389.83 30,911.46 19,424.20 Appalachian Teachers College 136,932.88 142,944.75 153,859.58 Board of Elections ^ 8,952.00 8,670.86 10,091.71 Board of Charities and Welfare 112,184.50 121,293.57 107,046.99 Budget Bureau 29,274.21 39,795.99 33,506.46 Bureau of Labor and Printing 35,451.43 33,481.69 33,460.04 Bond Redemption 1,026,360.00 1,100,400.00 1,107,900.00 Contingency and Emergency 959.00 80,429.26 67,012.88 County Advisory Commission 18,054.92 14,407.48 19,184.19 Con.servation and Development 387,291.44 606,187.54 572,680.33 Cherokee Indian Normal School 34,793.91 36,627.01 32,163.15 Caswell Training School 138,172.76 158,673.25 157,905.33 Confederate Women's Home 13,375.00 14,160.00 15,480.00 Debt Service 1,593,134.74 1,882,119.24 2,159,787.62 Department of Education 163,077.40 129,182.66 126,860.60 Executive Council 6,917.67 7,962.87 11,142.84 East Carolina Teachers College 352,696.62 429,456.50 439,623.71 East Carolina School for Boys 17,214.99 25,484.37 28,540.79 Efland School for Women 1,500.00 2,500.00 2,000.00 Farm Colony for W'omen 17,744.35 13,476.65 Fire Protection Smoky Mountain Park 3,209.26 Repokt of State Treasurer 33 Governor's Office :-._ --$ 17,933.52 $ 19,473.81 $ 18,920.28 Historical Commission 30,641.79 34,072.52 36,142.-33 Instance Department 113,424.27 112,290.19 113,300.03 Judiciary 377,438.75 379,874.78 382,244.41 Legislature 1,211.26 174,089.50 16,708.68 Morrison Training School 20,026.67 28,008.70 26,828.39 National Guard 228,303.57 143,237.43 220,124.50 N. C. and S. C. Boundary Commission 6,008.53 N. C. Park Commission... 3,000.00 1,987.75 1,012.25 N. C. Board of Health 465,493.71 484,930.99 525,666.07 N. C. Library Commission 25,337.76 25,446.99 22,998.07 N. C. Industrial Commission 16,905.30 97,970.59 N. C. Corporation Commission 85,562.33 83,668.89 105,352.48 N. C. College for Women 1,192,285.25 1,211,812.39 1,150,077.82 N. C. School for Deaf 140,683.90 144,345.05 144,871.51 N. C. School for Deaf and Blind 157,350.15 163,344.43 156,034.39 N. C. College for Negroes 64,240.49 76,832.26 74,398.89 Negro A. & T. College 161,667.70 139,716.94 139,787.07 Normal School, Fayetteville 76,751.71 79,002.29 70,768.39 Normal School, Elizabeth City 84,150.08 70,594.95 73,737.21 Orthopaedic Hospital 84,739.75 111,776.24 112,122.35 Oxford Orphanage, White 30,000.00 30,000.00 30,000.00 Oxford Orphanage, Colored- 25,000.00 25,000.00 27, .500. 00 Presidential Electors 363.40 Public Buildings and Grounds 133,422.47 150,169.05 157,268.05 Printing (subject to departmental charge) 112,383.44 10,423.21 81,918.69 Pensions 1,406,682.00 1,310,965.00 1,129,025.00 Public Schools 3,542,704.30 3,657,339.10 6,519,069.68 Revenue Department 192,841.89 212,468.35 237,379.91 Refunds 55,863.73 208,672.26 272,878.44 Salary and Wage Commission 3,209.94 3,386.80 3,168.17 State Library 11,525.81 13,870.24 11,394.09 State Department 23,994.42 24,070.63 23,844.66 State Aid and Subsidies 31,536.58 31,950.82 51,627.63 State College A. &E 1,096,557.90 1,176,901.47 1,349,913.80 Soldiers' Home 51,086.23 44,795.42 38,683.42 State Hospital, Goldsboro 256,468.76 255,003.22 254,146.85 State Hospital, Morganton 444,220.17 422,679.72 401,562.44 State Hospital, Raleigh 416,728.33 421,039.18 409,776.28 Stonewall Jackson Training School 149,581.05 152,730.96 136,578.03 State's Prison 549,364.94 764,326.06 1,130,981.70 Sinking Fund Contribution 214,250.00 214,250.00 266.720.00 Treasury Department 35,729.14 34,238.03 32,1,58.99 Teachers College, Winston- Salem 91,365.44 91,891.08 103,900.61 Tuberculosis Sanatorium 251,789.11 285,038.09 313,106.99 Training School for Girls 95,762.64 101,813.25 98,922.74 Transportation Commission 11,439.33 14,279.16 3.099.85 Tax Commission 18,124.66 33,621.66 11,708.03 University of North Carolina 1,393,159.02 1,475,703.72 2,279,347.79 AVestern Carolina Teachers College 124,330.74 129,394.22 1.30,188.90 Special Fund: Audubon Society 495.50 Agricultural Dept. Miscellaneous Inspection Taxes 455,855.63 462,488.09 439,738.75 Agricultural Dept. Gasoline and Oil Inspection... 66,972.94 65,381.49 66,618.55 Automobile Fund Highway Maintenance 10,278,437.82 25,564,620.00 24,049,623.26 Automobile Fund Motor Vehicle Bureau 530,973.52 451,416.26 472,353.88 Automobile Fund Highway Construction 16,947,676.13 1,640,000.00 2,726,195.63 Automobile Fund Building 2,833.62 Appalachian Teachers College 21,376.24 106,932.89 17,755.38 Bank Examination 51,336.62 49,086.01 .52,482.20 34 Report op State Treasurer Board of Health M. and I $ 22,001.18 $ 24,617.23 $ 5,480.07 Board of Education (Literary Fund) - 277,510.73 309,744.07 317,608.00 Bus Depository 8,100.00 6,730.59 5,650.03 Civil Engineers and Land Surveyors...- 3,975.90 5,082.21 3,482.15 Caswell Training School - 87,793.07 39,036.98 43,658.80 Cherokee Indian Normal 174.11 4,962.90 Confederate Women's Home.. 3,309.26 County Highway Loan Fund 448,861.37 366,267.04 732,654.30 Debt Service, Interest 5,216,316.38 5,406,045.49 6,117,014.92 Debt Service, Bond Redemption.... 250,000.00 250,000.00 2,850,000.00 Eastern Carolina Teachers College 321,169.03 83,397.59 190,988.25 Eastern Carolina Industrial School... 62,737.22 32,404.70 92,090.33 Elizabeth City Normal School 16,987.45 2,716.76 5,955.62 Federal Funds.... 80,670.83 87,556.22 63,945.49 Fayetteville Normal School 19,716.13 238.75 Fund Transfer to General Fund 828,543.92 701,873.85 522,828.42 Insurance Department 116,239.23 137,230.63 144,329.10 Industrial Farm Colony for Women 5,507.81 54,491.19 31,298.46 Inland Waterway 19,254.62 18,776.66 6,178.93 Morrison Training School 51,462.69 8,550.83 29,301.25 N. C. Real Estate Commission 6,268.60 6,556.55 8,187.65 N.C. College for Women 453,556.87 290,251.77 60,629.74 N. C. College for Negroes 10.91 84,910.82 234,609.36 N. C. State Fair 27,212.62 24,139.00 141,693.83 N. C. School for Deaf 77,092.15 1,003.22 48,945.25 N. C. School for Blind and Deaf 256.65 105.00 67,074.73 Notes Paid and Renewed 15,750,000.00 12,700,000.00 16,100,000.00 Negro A. & T. College 34,263.98 4,497.68 38,563.07 Orthopaedic Hospital 119,638.97 63,055.22 4,037.72 Public Buildings and Grounds 72,623.19 8,651.22 Public School Building Loans 2,780,751.16 969,723.86 429,762.55 Rockefeller Funds 17,924.88 19,545.00 6,235.89 Rosenwald Negro Welfare Fund 501.57 4,657.15 Rodman Trust Fund 1,407.12 1,499.17 1,748.75 State Fair 195,016.96 State A. &E. College 349,739.15 199,827.71 74,243.89 State Hospital, Goldsboro 174,414.65 3,991.00 123,315.45 State Hospital, Morganton 89,720.80 10,585.77 20,450.69 State Hospital, Raleigh 64,111.68 2,292.73 185,550.06 State's Prison 49,637.09 15,332.08 8,205.95 StonewallJackson Training School 30,294.94 385.29 21,869.60 Smoky Mountain Park 237,639.59 576,973.16 State Warehouse System 143,317.02 44,534.25 41,797.08 Sinking Funds Investments 403,609.38 539,846.61 2,695,532.47 Training School for Girls and Women 64,080.04 9,156.27 37,390.81 Tuberculosis Sanatorium 129,0.58.35 98,832.70 29,503.52 University of North Carolina 439,563.72 607,108.48 281,201.07 World War Veterans Loan 1,874,201.97 402,628.83 142,834.41 Western Carohna Teachers College .53,300.00 4,665.14 120.2.56.36 Winston-Salem Teachers College 38,706.43 17,143.64 1,310.82 Weights and Measures. 4,257.98 Total Disbursements 177,680.509.15 S72,179,831.34 .$ 84,667,014.30 Report of State Treasurer 35 Public School Btjilding Loans from proceeds bond issues secured by twenty-payment NOTES to be applied TO PAYING BONDS AS THEY BECOME DUE Counties Laws 1921 Laws 1923 Laws 1925 Laws 1927 Total Alamance $ 33,000 ? 30,000 $ 44,250 $ 61,600 $ 168,850 Alexander - 13,750 24,000 48,750 86,500 Alleghany 14,125 720 14,845 Anson- 26,210 36,600 39,900 20,250 122,960 Ashe. 2,100 2,100 Avery 37,000 6,000 43,000 Beaufort 31,125 42, ,500 73,625 Bertie 30,625 7,200 73,500 34,000 145,325 Bladen.-.. 39,600 7,500 28,000 62,222 137,322 Brunswick ' 8,900 9,900 Buncombe 62,500 40,800 70,000 28,000 201,300 Burke 25,850 25,200 50,400 35,200 136,650 Cabarrus 11,000 54,000 120,850 185,850 Caldwell 26,000 36,000 45,850 48,200 156,050 Camden... 8,250 10,500 16,000 34,750 Carteret 18,395 2,160 61,053 81,608 CaswelL.. 16,550 17,400 42,000 27,500 103,450 Catawba 37,250 47,400 40,600 48,000 173,250 Chatham 26,070 17,400 4,550 42,950 90,970 Cherokee 16,500 24,050 40,800 81,350 Chowan Clay. 10,350 11,700 21,250 43,300 Cleveland 35,350 46,200 80,600 85,000 247,150 Columbus 15,950 11,400 111,000 23,750 162,100 Craven. 39,750 68,250 33,750 141,750 Cumberland 36,650 34,124 48,000 4,250 123,024 Currituck 13,800 20,400 34,200 Dare 5,675 1,200 2,800 9,675 Davidson 35,100 34,080 93,400 24,000 186,580 Davie 27,500 32,400 16,100 76,000 Duplin 20,350 50,400 106,750 44,000 221,500 Durham 45,250 33,000 63,000 35,600 176,850 Edgecombe 44,350 45,000 43,400 40,000 172,750 Forsyth 33,000 84,000 117,000 Franklin 30,800 60,000 67,719 53,550 212,065 Gaston 49,650 68,400 108,500 16,000 242,550 Gates 12,100 26,400 30,800 17,375 86,675 Graham 44,000 44,000 Granville 34,150 60,000 94,150 Greene 48,000 10,400 70,750 37,550 166,700 Guilford. 74,500 99,000 108,500 40,000 322,000 Halifax 42,200 70,200 63,000 41,251 216,651 Harnett 32,450 72,000 97,250 72,000 273,700 Haywood 24,750 24,000 40,050 88,800 Henderson 19,500 45,500 56,000 54,000 175,000 Hertford 5,500 1,800 27,150 52,800 87,250 Hoke 15,400 8,400 16,000 39,800 Hyde 9,350 15,000 24,350 Iredell 39,000 16,800 91,000 48,000 194,800 Jackson 23,375 32,400 28,000 21,884 105,659 Johnston 55,000 102,000 157,000 Jones 30,800 15,000 45,800 Lee 2,475 9,840 91,600 103,915 Lenoir 24,750 54,000 87,500 53,600 219,850 Lincoln 24,000 44,400 52,500 24,000 144,900 Macon 16,800 16,800 Madison 13,750 54,000 66,500 31,875 166,125 Martin-. 21,250 51,600 24,500 40,000 137,350 36 Report of State Treasurer McDowell Mecklenburg-. Mitchell Montgomery.. Moore Nash New Hanover Northampton. Onslow Orange Pamlico Pasquotank... Pender Perqiiimans... Person Pitt Polk- Randolph Richmond Robeson Rockingham.. Rowan Rutherford Sampson Scotland Stanly Stokes Surry Swain Transylvania- Tyrrell Union Vance Wake Warren Washington... Watauga Wayne Wilkes Wilson Yadkin Yancey $ 20,900 $ 9,600 i 52,500 $ 28,000 $ 111.000 74,800 66,600 145,500 44,000 330,900 20,350 16,200 32,200 68,750 32,700 42,000 42,000 8,000 124,700 21,550 33,000 35,000 44,000 133,550 62,700 42,000 44,000 72,600 221,300 26,600 36,000 77,500 140,100 18,425 9,300 19,600 60,000 107,325 17,600 30,000 102,000 28,500 178,100 25,350 34,800 23,100 83,250 29,250 18,000 18,900 66,150 24,200 21,000 67,500 10,200 122,900 40,800 37,500 78,300 12,800 29,900 17,250 59,950 19,600 34,500 22,400 21,112 97,612 43,150 48,000 101,000 22,000 214,150 11,000 26,000 57,000 4,500 98,500 33,600 48,000 46,900 28,000 156,500 27,850 25,200 52,500 105,550 58,900 40.500 76,000 175,400 49,500 54,000 36,000 139,500 48,400 54,000 56,000 52,000 210,400 36,650 34,500 109,000 53,500 233,650 15,000 62,550 25,200 102,750 33,550 40,800 4,250 78,600 33,600 36,600 49,000 40,000 159,200 29,250 7,500 44,400 81 , 150 42,000 50,375 99,450 45,900 237,725 13,750 24,000 7,000 18,450 63,200 13,000 28,000 36,000 77,000 4,400 14,000 18,400 42,500 6,120 69,250 68,000 185,870 24,200 26,400 49,000 99,600 72,000 57,780 182,000 62,400 374,180 26,700 27,000 21,000 74,700 27,500 27,500 15,500 28,800 12,600 56,900 41,750 51,000 66,800 9,000 168,550 37,400 38,400 42,086 117,886 52,250 42,000 51,800 29,600 175,650 18,150 23,100 41,250 20,075 35,000 80,075 S 2,745,075 S 3,026,199 $ 4,368,358 $ 2,440,519 $ 12,605,151 Report of State Treasurer 37 LOANS OUTSTANDING FOR BUILDING SCHOOL HOUSES Literary Ftjnd Board of Education June 30, 1932 Alamance S 34,400 Alexander 10,250 Alleghany 1,750 Anson 17,700 Ashe- 2,000 Avery 18,000 Beaufort - 19,750 Bertie - 48,450 Bladen .- 27,150 Briinswick 10,500 Buncombe. 20,350 Burke 7,500 Cabarrus 12,500 CaldwelL 41,200 Camden Carteret 45,000 Caswell 28,100 Catawba 14,300 Chatham 1,600 Cherokee 7,400 Chowan 26,500 Clay 1,380 Cleveland 11,200 Columbus 400 Craven 14,600 Cumberland 20,800 Currituck Dare 11,560 Davidson 26,140 Davie 400 Duplin 2,600 Durham 700 Edgecombe 1,850 Forsyth FrankUn 30,000 Gaston 14,650 Gates 18,130 Graham 1,800 Granville 19,500 Greene 10,650 Guilford 13,500 Hahfax 28,000 Harnett 37,945 Haywood 7,200 Henderson 13,000 Hertford 1,460 Hoke 8,710 Hyde 10,210 Iredell. 23,810 Jackson 15,250 Johnston 12,500 Jones 2,500 Lee Lenoir.. 33,325 Lincoln... 2,050 Macon 2,675 Madison 70,500 Martin 34,640 38 Report of State Treasurer McDowell $ 15,800 Mecklenburg 34,290 Mitchell... - 8,250 Montgomery 26,050 Moore 19,450 Nash -.- 2,000 New Hanover Northampton 23,300 Onslow 1,100 Orange 12,675 Pamlico 3,000 Pasquotank . 5,400 Pender.. 9,420 Perquimans Person.. 32,900 Pitt 31,700 Polk Randolph 34,700 Richmond 21,000 Robeson... 44,950 Rockingham Rowan. 33,600 Rutherford 24,000 Sampson 21,900 Scotland 1,000 Stanly 36,350 Stokes - 22,500 Surry 19,600 Swain 100 Transylvania 725 Tyrrell 8,350 Union 11,200 Vance _ 4,500 Wake 23,100 Warren 12,270 Washington 20,360 Watauga.- 5,000 Wayne 5,200 Wilkes... 13,000 Wilson 11,800 Yadkin 8,212 Yancey S 1,506,787 STATE'S INVESTMENT IN RAILROADS June 30, 1932 30,002 Shares Stock, North Carolina Railroad Company $ 3,000,200 12,666 Shares Stock, Atlantic & North Carolina Railroad Company 1,266,600 S 4,266,800 The State owns a majority of stock in these railroads, thereby giving the State control, which, at the same time enhances the value of this majority stock. The North Carolina Railroad extends from Goldsboro via Raleigh and Greensboro to Charlotte. It is leased to the Southern Railroad upon a flat eight per cent (8%) stock basis. The Atlantic and North Carolina Railroad extends from Morehead City to Goldsboro. It is leased to the Norfolk-Southern Railroad upon an increasing rental basis as the lease ages. At present the rental upon a stock interest rate basis yields 4J^%. Both leases require that at the termination of the leases, road bed, rolling stock, stations and all other property must be in as good condition as at the beginning of the leases. Report of State Treasurer 39 state sinking funds June 30, 1932 Invested: Highway Sinking Fund No. 1 iH% Highway Bonds, due 1940 --_ S 50,000 4M% Highway Bonds, due J. & J. 1933-58 331,000 i}4% Education and Charity Bonds, October 1, 1963 110,000 iH7c Gastonia School Bonds, May, 1946-59 100,000 4Ji% Goldsboro Bonds, January, 1937-56 9,000 5% Raleigh School Bonds, October, 1938 3,000 6% Craven County Bonds, March, 1936 8,000 6% Pitt County Bonds, April, 1945 1,000 5% City of Henderson Bonds, June, 1953.- 2,000 4H% Public School Bonds, 1945 and 1950 7,000 4% Highway Bonds, 1939 17,000 5% Highway Bonds, 1961 12,000 5%Education and Charity Bonds, January, 1961 2,000 4M% Highway Bonds, 1940 1,000 4K% Park Bonds, April, 1965-67 133,000 i}4% Education and Charity Bonds, January, 1966 3,000 5% Funding Bonds, February 15, 1937 30,000 4M% Public School Bonds, January, 1942 25,000 4% Education and Charity Bonds, April, 1968 110,000 ? 054,000 Highway Sinking Fund No. 2 45-2% Pubhc School Bonds. January, 1936-50..- S 47,000 4^2% Highway Bonds, J. & J., 19.36-62 1,899,000 43^% Education and Charity Bonds, January, 1962-66 97,000 4% Highway Bonds, J. & J., 1935-47 342,000 5% Highway Bonds, 1961 26,000 5% Education and Charity Bonds, July, 1961 76,000 5% Funding Bonds, February 15, 1942 and 1952 8,000 iH% Highway Bonds, 1940 and 1952 18,000 4^% Park Bonds, April, 1967-72- 267,000 4M% Permanent Improvement Bonds, April, 1968 236,000 4M/0 Chowan Bridge Bonds, January, 1942 6,000 4M% Highway Bonds, January, 1939-42 21,000 4% Education and Charity Bonds, April, 1968 460,000 43^% Highway (Reg.) Bonds, 1950 10,000 4}-^% Highway (Reg.) Bonds, 1941-58 222,000 4M% Highway (Reg.) Bonds, January, 1936 76,000 3,811,000 Public School Sinking Fund No. 3 434% General Fund Notes, July, 1935 --? 39,000 4J^% Highway Bonds, 1940-55 257,000 4J^% Education and Charity Bonds, January, 1966 344,000 i%% Public Improvement Bonds, October, 1963 2.000 i}4% Public School Bonds, January, 1937-43 13,000 iH% Permanent Improvement Bonds, April, 1968 14,000 4J4% Park Bonds, April, 1942 10,000 04% Chowan River Bonds, January, 1944 5,000 4H% Highway (Reg.) Bonds, January, 1950 15,000 4Ji% Highway (Reg.) Bonds, January, 1936 24,000 4^% Highway (Reg.) Bonds, July, 1951 200,000 923,000 40 Report of State Treasurer Public School Sinking Fund No. 4 4^% General Fund Notes, July, 1935— $ 64,000 4H% Highway Bonds, 1949, 1957, 1958.. 50,000 4% Highway Bonds, 1935-40 598,000 5% Funding Bonds, February 15, 1947 18,000 4M% Chowan River Bridge Bonds, January, 1942 10,000 4M% Highway Bonds, January, 1933-49 26,000 4M% Education and Charity Bonds, January, 1966 211,000 4M% Public School Bonds, January, 1935 and 1949 12,000 4M% Permanent Improvement Bonds, April, 1968 370,000 4}^% Public School Bonds, January, 1947 5,000 4V^% Highway (Reg.) Bonds, July, 1952 167,000 4% Highway (Reg.) Bonds, July, 1934 2,000 43^% Highway (Reg.) Bonds, January, 1950 25,000 S 1,558,000 Public School Bonds Sinking Fund No. 9 5% Highway Bonds, July, 1961 $ 25,000 4H% Highway Bonds, January, 1940 50,000 4H% Education and Charity Bonds, October, 1963 20,000 4H% Education and Charity Bonds, January, 1962 5,000 iy2% Highway Bonds, J. & J., 1935-64 79,000 4% Highway Bonds, July, 1939 and 1948 1.30.000 5% Funding Bonds, February 15, 1947 17,000 m% Highway (Reg.) Bonds, January, 1949 . 25,000 351,000 Educational, Charitable and Institutional Interest Sinking Fund No. 5 4}-^% Highway Bonds, January, 1933-63 ....$ 226,000 4H% Public School Bonds, January, 1941 15,000 4M% McDowell County Highway Bonds, March, 1944-54 100,000 5K% Moore County School Bonds, September, 1932-46 41,000 4H% Education and Charity Bonds, January, 1966 55,000 5% Funding Bonds, February 15, 1937 and 1942 315,000 4% Highway Bonds, J. & J., 1936-1946 294,000 4M% PubUc School Bonds, January, 1937-42 12,000 4M% Permanent Improvement, April, 1968 221,000 4% Education and Charity Bonds, April, 1968 175,000 45^% Education and Charity Bonds, October, 1963 5,000 4% Highway (Reg.) Bonds, July, 1944-46 200,000 4J4% Highway (Reg.) Bonds, January. 1951 15,000 1,674,000 Educational, Charitable, and Institutional Interest Sinking Fund No. 6 4M% Highway Bonds, January, 1940 $ 25,000 4M% Public School Bonds, January, 1941 and 1942 43,000 4)4% Education and Charity Interest Bonds, January, 1966 30,000 4% Highway Bonds, J. & J., 1935 and 1937 40,000 iy2% Highway Bonds, July, 1942 50,000 4H% Permanent Improvement, April, 1968 59,000 4% Education and Charity Bonds, April, 1968 45,000 4H% Highway Bonds (Reg.) 1943 10,000 4% Highway (Reg.) Bonds, 1943 5,000 4H7o General Fund Bonds, July, 1933 2,000 309,000 Report of State Treasurer 41 Educational, Charitable and Institutional Interest Sinking Fund No. 7 4J^% Highway Bonds, Jan., 1938 S 15,000 4% Highway Bonds, 1936 and 1946 67,000 iiifo Public School Bonds, January, 1942 25,000 4% Farm Colony Bonds, April. 1967 10,000 4H% Highway (Reg.) Bonds, July, 1936 25,000 4)i% Highway (Reg.) Bonds, January, 1945 15,000 S 157,000 Chowan River Bridge Sinking Fund No. 10 4% State Prison Bonds, July, 1967 90,000 Cape Fear River Bridge Sinking Fund No. 11 4% State Prison Bonds, July, 1967 72,000 4H% Highway Bonds, January, 1942 8,000 80,000 Total Invested S 9,907,000.00 Cash in Bank at Interest 966,156.77 Total Sinking Fund $ 10,873,156.77 42 Report of State Treasurer BONDED debt OF NORTH CAROLINA June 30, 1932 4% Hospital, July, 1909, due July, 1949 _ ? 500,000 4% Refunding, July, 1919, due July, 1950 . 3,430,000 4% Administrative Building, July, 1911, due July, 1951 250,000 4% Feeble Minded School, July, 1911, due July, 1951 60,000 4% Improvement, July, 1913, due July, 1953 1,142,500 4% Refunding, January, 1913, due January, 1953 550,000 iH% General Fund Notes, July, 1925, due July, 1932-1935 4,588,000 5% Funding, February 15, 1922, due February 15, 1937, 1942, 1947, 1952. 4,500,000 Educational and Charitable Institutions Bonds 4% dated July, 1917-20, due July, 1932-38.- 670,500 4% (Farm Colony) dated April, 1931, due April, 1967 60,000 4% dated April, 1931, due April, 1968 4,247,000 4M% dated April, 1930, due April, 1936-40 1,970,000 414% dated April, 1930, due April, 1968 1,000,000 4H% (Park) dated April, 1930, due April, 1933-72 2,000,000 434% dated January, 1922, due January, 1962 - 3,373,000 4.1/2% dated January 1926, due January, 1966 - 5,125,000 414% dated October, 1923, due October, 1963 3,049,000 43^% dated October, 1923, due October, 1963 7,100,000 43-1% (Fisheries) dated October, 1923, due October, 1963 500,000 5% dated July, 1921, duo July, 1961_ 3,372,000 4% (Prison) dated July, 1931, due July, 1967.. ._ 400,000 S 47,887,000 Public School Building Bonds 4% dated January, 1928, due January, 1933-41—Laws 1927 1,100,000 *H% dated January, 1928, due January, 1941-52—Laws 1927 1,400,000 *M% dated January, 1927, due January, 1933-51—Laws 1925 4,750,000 ^¥2% dated January, 1922, due January, 1933-47—Laws 1921.. 3,585,000 41^% dated January, 1926, due January, 1933-.50—Laws 1923 4,500,000 15,335,000 World War Veterans Loan Bonds iH% dated April, 1930, due April, 1950 - 2,000,000 4% dated July, 1931, due July, 1951 500,000 2,500,000 Highway Serial Bonds 4% dated January, 1927 and 1931, due July, 1932-48 20,500,000 4% dated January, 1928, due January, 1933-41 4,500,000 4}i% dated January, 1931, due January, 1934-54 (Cape Fear) 1,250,000 4J4% dated January, 1930, due January, 1933-40 (Chowan) 500,000 4M% dated January, 1927, due January, 1933-49 13,500,000 iVi% dated January and July, 1921-26, due January, 1933-64 45,800,000 4V2% dated January and July, 1921-26, due July, 1932-61 15,447,000 iH% dated January, 1923, due January, 1938-52 3,750,000 5% dated July, 1921, due July, 1941, 1951, 1961 4,540,000 109,787,000 Total Bonded Debt $175,509,000 Notes Payable General Fund Notes $ 7,230,000 Permanent Improvements. 272,371 7,502,371 $183,011,371 |