Repository: UIHistories Project: Board of Trustees Minutes - 1918 [PAGE 268]

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264

BOARD OF TRUSTEES

[March 13,

Secretary, College of Medicine.... 300.00 Vice Director, Agricultural Experiment Station 600.00 It has been necessary during the past two years for us to establish certain other petty cash funds, all of them small in amount but positively necessary in the satisfactory handling of the business of the various departments. The petty cash funds at the present time stand as follows: Cashier $5,000.00 Manager, University Creamery 500.00 Secretary, Colleges of Medicine and Dentistry 500.00 Actuary, School of Pharmacy 250.00 Manager, Demonstration Car .; 150.00 Assistant Superintendent, Power Plant 100.00 I would recommend that the Board of Trustees authorize the Comptroller to establish and administer the petty cash funds where necessary for the prompt and efficient handling of University business, provided that no single fund of more than $1,000 may be established without specific action of the Board of Trustees, and that the total of all departmental petty cash funds, excluding the fund in the hands of the Cashier, shall not exceed $5,000 at one time, and provided further that all persons in whose hands a petty cash fund is placed be bonded in a satisfactory amount. Cordially yours,

LLOYD MOREY

Acting

Comptroller

On motion of Mr. Hoit, this recommendation was concurred in. The vote was as follows: Ayes, Mr. Abbott, Mrs. Evans, Mrs. Henrotin, Mr. Hoit, Mr. Taggart, Mr. Ward, Miss Watson; noes, none; absent, Mr. Blair, Mrs. Busey, Mr. Carr, Mr. Lowden, Mr. Trevett.

CASHIER'S FUND AND BOND (25) A letter from the Comptroller concerning the petty cash fund in the hands of the Cashier in the Business Office: March 9, 1917 President Edmund J. James, University of Illinois

M Y DEAR PRESIDENT J A M E S :

In my letter of January 2, 1917, I recommend the increase of the petty cash fund in the hands of the Cashier in the Business Office from $5,000 to $10,000. The need for this increase is urgent and I hope that the recommendation can be considered in the near future and that it may be approved. In the light of this increase, if granted, and in consideration of a very large increase in the amount of the funds handled by the Cashier, who is the successor of the former Bursar and Chief Clerk, I recommend that the bond of the Cashier which now stands at $20,000, as directed by the Board at its meeting of March 10, 1914 (page 635), there having been no action on the matter since that date, be increased to $50,000. I would further recommend that the bond of $50,000 be arranged so that it will cover funds received by the University in trust and administered