Portsmouth, Va., Water Budget
The budget of the Portsmouth, Va., water department, recently announced, is as follows: Salaries, S23,000: wages, $45,000; materials and supplies, $50,000: interest on bonds $152,000. Total $270,000.
The operation of the department for the six months ended June 30, June 30, last, cost $7,000, less than one-half the budget allowance for the year. There are 11,000 consumers in Portsmouth and 2,000 in Suffolk. The gross annual revenue of the water system is $350000, divided as follows: Domestic, $143,000; fire hydrants, $20,-000; commercial and industrial, $187,000. The bonded debt on the property is $2,950,000, with an interest charge of $152,000. The amount to the credit of the water department in the sinking fund is $538,000, the annual payments to the sinking fund being $45,000.
The most serious problem confronting the water department is to meet the annual payment of $27,351 plus interest, due the U. S. Government. An effort is being made to meet these payments from the revenue of the water department, without increasing water rates or issuing bonds.