Montgomery County sentinel. [volume], January 10, 1963, ANNUAL REPORT OF THE CITY 1961-62, Page Page 3, Image 17

About Montgomery County sentinel. [volume] (Rockville, Md.) 1855-1974

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ROCKVILLE REPORTS . . . JAN. 10. 1963
A HEALTHY FINANCIAL OUTLOOK
The City is in sound financial health. A combination of continuing growth
and prudent fiscal management made 1961-1962 one of the best years in recent
Rockville history from a financial standpoint. Among the highlights were:
• A 2c reduction in the current city tax rate, from 80c to 78c.
• A 2c reduction in the city water rate, from 40c to 38c.
• Sale of the City's 1962 bond issue at the lowest interest rate in the past
„ 10 years—2.96%—a rate which was lower than those at which the County,
the Parle and Planning Commission, and the Washington Suburban Sanitary
Commission sold their bonds, and one which will save the City thousands of
dollars in interest over the life of the issue.
• Reductions of 25% in the cost of the City's general insurance cover
age and 38% in the cost of its group life insurance coverage.
• Receipt of the coveted "Certificate of Conformance" Award from the
Municipal Finance Officers' Association of the United States and Canada,
making Rockville the first Maryland city to win this citation for distinguished
financial reporting.
1961-62 CITY BUDGET
J PROPERTY TAXIS J PUBLIC WORKS
* PERMITS I 1 -A „ / \ SAFETY f
V* 1 />
INCOME EXPENDITURES
The charts above show where the funds for the $1,340,010 operating budget
for 1961-62 came from and how they were distributed. Revenues and expendi
tures relating to the water utility and special assessment funds are excluded
from the chart since both are financed by direct charges for specific benefits.
Copies of the 1961-62 financial report, which give detailed information on.
City finances, are available at City Hall upon request.
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