Financing a Small Town in 1973

© Jerry F. Couch

HOW MUCH DID IT COST to operate a small town in 1973?  We can find out by looking at an audit report prepared for the Town of St. Paul which encompassed the seven-month period ending January 31, 1974. 

The early 1970’s, though prosperous, were also a period “runaway inflation.” The figures shown in the audit represent dollars that were rapidly losing their buying power. 

Compared to the relatively uncomplicated 1973 auit report, St. Paul’s most recent audit for the fiscal year ending June 30, 2017 is 69 pages in length.  It’s the most complex and detailed audit of the town’s finances EVER.  In a future article, we’ll be posting selected pages from this audit to show you how the town’s money was apportioned during 2016-2017.

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