To the General Assembly:
The Constitution imposes upon me the duty, at the opening of
each session, to communicate to the General Assembly the condition
of the State, with such recommendations as may seem expedient.
Complying with this requirement, I submit the following:
FINANCIAL CONDITION OF THE STATE.
During the fiscal year ending the 15th of November, 1892, the
total receipts of the State were §6,915,082.87, being $5,544,491.07 of
revenues received from all sources during the year, and a balance of
$1,370,591.80 on hand at the close of business hours on the 15th of
November, 1891. The total expenditure during the year ending the 15th
of November, 1892, from all funds, was §6,158,671.24. Of the sum on
hand on the 15th of November, 1891, $1,065,705.52 belonged to the
Sinking Fund, and the remainder to the credit of the General Revenue
Fund. The receipts for the year ending the 15th of November, 1892
for the General Revenue Fund, were §3,707,675.88, including the donation of $85,000 from Wayne county for the Experiment Station, and
$74,729.30 accumulated fees from the Secretary of State's office, of a
preceding year, which were withheld from the treasury because of
pending litigation. The total amount paid out during the year from
this fund, upon the Auditor of State's warrants, was §3,777,564.20, or
$69,888.32 in excess of the receipts for the year.
The receipts for the year would have been adequate to meet all
expenses and leave a balance remaining in the Treasury but for the
extraordinary deficiencies of the previous year, which had to be provided for out of the revenues of the current year. These deficiencies
were, for miscellaneous matters, $132,855.41, and for the Boys' Industrial
School at Lancaster, $18,194.43, making a total of $15 1,049.84.