Repository: UIHistories Project: Board of Trustees Minutes - 1930 [PAGE 441]

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438

board of trustees

[November 15

gineering Experiment Station. This agreement is for four years beginning January 1, 1930, with the understanding that it m a y be extended on mutual agreement. T h e Bureau agrees to pay $ 12,000, and the American Society of Civil Engineers and the Engineering Foundation will contribute an equal amount for the expenses of this investigation making a total of $24,000 for the four-year period. The Bureau further agrees that if the contributions from other parties exceed $12,000, it will contribute additional funds equal to the total contributions received from other sources in excess of that sum, but not to exceed $20,000. Professor W . L. Wilson of the Department of Civil Engineering, w h o will be in charge of the investigation, hopes that other outside agencies will provide $8,000 which will bring $8,000 more from the Bureau of Public Roads, thus making a total of $40,000. I recommend the approval of this agreement. On motion of Mrs. Evans, this agreement was approved.

GIFTS TO THE UNIVERSITY

(33) The following report of gifts received by the University since the last report was made to the Board. 1. From the E. I. DuPont D e Nemours & Company, $750 for the renewal of the DuPont Fellowship for 1930-31. 2. From the W . A. Jones Foundry & Machine Company, two w o r m gear speed reducers valued at approximately $500 for the use of the Department of Mechanical Engineering. 3. From the Cadillac Motor Car Company, one sectionalized Cadillac motor car chassis, the original cost of which was approximately $10,000, for the use of the Department of Mechanical Engineering. This report was received for record.

REPORT OF ARTHUR YOUNG & COMPANY OF THE AUDIT OF THE UNIVERSITY ACCOUNTS

(34) The following report from Messrs. Arthur Young & Company of the audit of the accounts of the University for the quarter ending September 30, 1929. Board of Trustees, University of Illinois, Urbana, Illinois ° e ~9, 9-9 D e a r Sirs: W e have audited the books of the University of Illinois for the quarter ending September 30, 1929, and submit the following brief summary of the work done and the result of the audit: T h e Cash Receipts have been verified by checking all cash receipts vouchers into the cash book, supplemented by an examination of a substantial portion of the original departmental records. Cash received as recorded has been duly deposited with the University Treasurer. The warrants drawn on the University Treasurer and those certified to the State Auditor have been checked into the cash book, and a substantial portion of the supporting vouchers has been examined with respect to authorization, object of expenditure and receipt of goods or services by the University. The footings of the cash book have been approved. The cash balance in the hands of the University Treasurer as at September 30, 1929, together with the securities in his custody, as shown by the books of account, have been verified by actual inspection and confirmation from depositories. The Income for the quarter under audit has been verified by extensive detail checking and comparison with thefilesof the Registrar, the Principal of the University High School, the School of Music, Sales Departments and other independent records. The accounts of the Chicago Departments and of the Stadium Fund have been audited along the lines indicated above and have been found correct. The records of the meetings of the Board of Trustees of July 17 and September 18, 1929, have been examined and all actions affecting thefinancesof the University, in so far a3 they had been consummated up to the time of our audit, have been checked intolarger purchase orders issued items been compared been made of the minutes of the tations. books ofof the Purchase Departmenthad not been consummatedaatand quothe The records of previous audits.with respect to have that have been examined, and previous meetingsaccount. A similar examination has with relative bidsnumber of the time