Repository: UIHistories Project: Board of Trustees Minutes - 1934 [PAGE 118]

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BOARD OF TRUSTEES

[September 28

T h e report of the Comptroller to the Board of Trustees as at June 30, 1932, a copy of which is attached hereto, is in accordance with the books and, in our opinion, is correct. T h e financial report of the Comptroller to the Governor of the State of Illinois for the period beginning July 1, 1931, and ending J u n e 30, 1932, is in accordance with the books and, in our opinion, is correct. Yours faithfully,

ARTHUR YOUNG & Co.

August 27, 1932 Board of Trustees,

DEAR SIRS,

University

of Illinois,

Urbana,

Illinois

W e have audited the accounts of the University of Illinois for the year ended June 30, 1932, and we hereby certify that, so far as we have been able to ascertain by an extended detail examination,— AH income which the University should have received during the year has been received and accounted for. All disbursements have been made for University purposes and have been properly authorized, and the expenditures have been correctly recorded in the books of account. T h e cash and securities as shown by the books as at J u n e 30, 1932, are correct in amount and have been verified by actual inspection, count or confirmation from the depositories. T h e cash includes $108,143.34 on deposit in the First National Bank, Champaign, Illinois, which closed its doors January 16, 1932, and is now in process of reorganization. It is expected that there will be little or no loss to depositors but under the proposed plan of reorganization, a portion of the funds on deposit will not be available for some time, pending the sale of certain assets of the Bank in a market more favorable than that at the present time. In connection with this account, the University holds the personal bond of Mr. Hazen S. Capron, former Treasurer, and his Co-Sureties. T h e report of the Comptroller for the year ended June 30, 1932, a copy of which is attached hereto, is in accordance with the books and, in our opinion, is correct. Yours faithfully,

ARTHUR YOUNG & Co.

This report was received for record.

COMPTROLLER'S REPORT OF CONTRACTS AND PURCHASE ORDERS (29) T h e following report from the Comptroller of contracts and purchase orders executed since the last report: C O N T R A C T S E X E C U T E D BY T H E C O M P T R O L L E R

J U L Y 8, 1932 TO SEPTEMBER 24, 1932

Contracts for purchases as reported to the Board of Trustees in its meeting of June I I , 1932, Minutes, page 610:

Name DeMoulin Bros, and Co. Amount to be paid by the University $40.00 for each complete outfit Date June 20, 1932 Purpose Purchase of R.O.T.C. uniforms for 1932-33

Cooperative agreement executed in accordance with gift accepted by the Board of Trustees in its meeting of July 13, 193 2 . Minutes, page 03:

Name Dairy and Ice Cream Machinery and Supplies Assodation Amount to be received by the University #750.00 Date August 12, 1932 Purpose For special research assistantship in Dairy Husbandry for 1932-33