Sinking Fund Commission

[Record group 162]
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Agency Function

Unavailable

Agency History

Although City Councils made provision for a sinking fund at least as early as 1807 the control of its monies remained in the hands of the City Treasurer and, after 1824, under a committee of Councils until 1857. In that year a board of Commissioners of the Sinking Fund was established by ordinances of May 9 and June 19 which designated as Commissioners the Mayor, the City Controller, and one citizen chosen by Councils, and directed them to keep an accounting of those funds held by the City Treasurer which by ordinance were designated as belonging to the sinking fund and to cause them to be invested in the purchase of the City's funded debt. A fire insurance fund for City property was established with the Commissioners in 1904, when all such insurance premiums normally paid by the City were directed to be put into their hands to accumulate for that purpose. The Board's composition remained unchanged until the adoption of the City Charter of 1951 when it was abolished but immediately replaced with a Sinking Fund Commission as a departmental commission of the Department of Collections. The present Commissioners are the City Controller, the Director of Finance, and an experienced investment banker appointed by the Mayor.

Archival Records

162.1 Minutes (1857-1961)

162.1a Annual Report (1866, 1872, 1949, 1952-1964, 1967, 1968, 1970)

162.2 Correspondence (1882-1902, 1933-1942)

162.3 Statements of City's Borrowing Capacity (1911-1914)

162.4 Insurance Register (1904)

162.5 Insurance Value Register (1904)

162.6 Report, Examination of Accounts (September, 1959)

162.7 Journal (1873-1884, 1892-1918)

162.8 Monthly Balances in Sinking Fund (January 1, 1926 to October 31, 1941)

162.9 Amortization Ledgers (1936 to 1945)

162.10 Loan Purchases Made for the Sinking Fund (May 1908 to July 1932)

162.11 Sinking Fund Investments Ledger (1916 to 1939)

162.12 Sinking Fund Register of Purchases, Transfers, Sales and Maturities of Securities and Cash Receipts and Payments (1904 to 1940)

162.13 Sinking Fund Investments Transferred (1939-1949)

162.14 Sinking Fund Investments Matured (1926-1949)

162.15 Cash Register (1955-1959)

162.16 Cash Ledger and General Ledger (1917-1959)

162.17 Purpose Ledger, Summarized by Loans (2 January 1960)

162.18 Financial Disclosure Documents on Bond Sales (1914-1979, 1995-1996)

Current Records

Unavailable

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Last updated on November 8, 2000