Grand Rapids Water Works Has Surplus
The water works of Grand Rapids, according to a report to the city council of that city by City Manager Fred H. Locke, will end its fiscal year with a safe net surplus of $49,467.52. This will be after the deduction of all expenditures and fixed charges. The gross receipts for the year ending March 31, 1923, were $558,405.63 and were derived from the following sources: Water rates, $385,336.17; fines, $23: fire protection, $14,616.52; meter charges, $50,765.85; tapping permits, $6,672; material, $17,597.09; fire hydrant rental, $80,395; flushing sewers, $3,000.
The expenditures, the manager says. were $266,574.11 and consisted of station expense. $87,572.95: filter plant expense, $98,000.67; distribution expense, $53,288.69; office and inspection. $27,711.80. From the operating surplus of $291,831.52 was deducted $98,700 for interest on bonds and $143.664 for the sinking fund, leaving a net surplus of $49,467,52, which is turned into the operating surplus or capital account.