Repository: UIHistories Project: Board of Trustees Minutes - 1894 [PAGE 210]

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PROCEEDINGS OF BOARD OF TRUSTEES.

211

3. On completion of this work, Mr. Marchand made a full report, which is filed herewith. He states t h a t he found t h e accounts of t h e above named officers of this board correct; t h a t all moneys received and all securities were accounted for, and t h a t t h e disbursements were fully shown. He reported t h a t there had been some slight clerical errors made in the figures on some of t h e warrants. But in all such cases we find t h a t the original receipted bills in t h e business agent's office and t h e cash paid out on t h e warrants agree. Mr. Marchand also found t h a t a few of t h e warrants, some seven in number, drawn between September 6, 1872, and February 28, 1873, were missing; b u t here again t h e original receipted bills, on file in t h e business agent's office, agree with t h e amounts for which t h e treasurer has taken credit. 4. Your committee further finds t h a t t h e reports made by our present treasurer to this board, in September last and a t this meeting, taken with the report of your committee made September 12, 1893, show t h a t Mr. Bunn has turned over to his successor all securities and all balances of money held by him as t h e property of t h e University of Illinois, thereby discharging in full his indebtedness to t h e University. 5. Your committee finds that, complying with t h e order of t h e board made a t its meeting last March, t h e secretary has procured and written up, from information given him by Mr. Bunn, and after an inspection of the bonds in t h e hands of Mr. Spalding, a register of t h e endowment fund of t h e University. This register gives a^ full statement of each bond or series of bonds belonging to t h e fund. I t also contains a schedule of t h e bonds and accounts to be balanced each quarter, showing redemptions of bonds and investments made, t h e cash on hand, t h e income receipts, and the payments of principal and interest on t h e land contracts. 6. Your committee will take under advisement t h e system of bookkeeping followed by t h e business agent and t h e manner of conducting the business of t h e University, and will make to t h e board a t its next meeting such suggestions, if any, as i t may find advisable. Respectfully submitted,

ALEX. MCLEAN, ) F . M. M C K A Y , V Finance Committee. J. E. ARMSTRONG, )

Mr. G. L. Marchand's bill was referred to Messrs. Armstrong and McKay to be audited, and was ordered paid from current funds upon their approval. Dr. Coyle's bill of expenses, amounting to $60, was ordered paid from current funds. Dr. Coyle visited t h e University upon invitation ofj-the committee on instruction. Dr. Robert H. Thurston's bill of expenses amounting t o $62.98 was ordered paid. Dr. Thurston was a t t h e laying of t h e corner stone of Engineering Hall and delivered t h e address of t h e occasion. The finance committee reported t h a t i t had received papers from t h e athletic association showing t h e expenses of t h e association in detail, but t h a t it requested further time before reporting finally in regard to t h e appropriation asked for by t h e association. The request by t h e committee for further time was granted. The finance committee made t h e following report:

URBANA, I I I . , December 13, 1893.

To the Board of Trustees of the University of Illinois. GENTLEMEN:—Your finance committee has examined t h e report of C. W. Spalding, treasurer, showing balance and receipts amounting t o $238,384,41; expenditures, $43,353.18, and balance on hand at date of report,