Caption: Board of Trustees Minutes - 1896
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PROCEEDINGS OF BOARD OF TRUSTEES.
RECEIPTS, INVESTMENTS, AND ACCOUNTING.
1. The Treasurer shall be the custodian of the funds and securities belonging to the University. 2. The Treasurer shall collect, as it becomes due, the interest accruing on the money and securities (including land contracts) of the University, and shall collect the principal of said securities when it becomes due. He shall collect all general and special appropriations made to the University by the state and the United States. 3. The Treasurer shall keep the accounts of the moneys in his custody in such separate funds as shall be indicated by the Board of Trustees, or as are desirable and necessary for the proper and systematic accounting for the moneys coming into the treasury. 4. At each regular meeting of the Board, the Treasurer shall report in detail the transactions of his office for the quarter preceding the meeting, and shall report the condition of the treasury at such time, and also at any other time the Board may request. 5. The Treasurer shall report to the Secretary, for record, a complete description of each of the securities the Finance Committee may place in his custody, within ten days after such action of the Finance Committee. 6. The Treasurer shall pay out money on warrants signed by the Chairman of the Board of Trustees and the Secretary, and shall not do so otherwise; and he shall submit his paid warrants to the Board for audit by the Finance Committee. 7. The endowment fund shall be kept constantly invested by the Treasurer and the Finance Committee of the Board. The Treasurer shall forthwith reort all changes in investments to the Secretary, who shall enter the same in is records. The Committee shall report its action concerning the investment of funds at each regular meeting of the Board, for approval. 8. The Secretary shall keep an accurate account of each of the securities reported by the Treasurer, in a register, and shall report maturing securities to the Board at least one quarter before maturity. He shall report the amount of interest accrued on the securities of the University during the previous quarter. 9. The Business Manager shall be the general business agent and financial accountant of the University. He shall collect and account for all money from dues, fees, tuition, and all other sources not required to be collected by the Treasurer. 10. The Business Manager shall report monthly to the Treasurer the moneys received by him, turning over to him all money, except such as he and the Treasurer may agree to be necessary for the proper conduct of the petty business of his office. Single transactions involving less than $50 in money may be classified as ''petty business." 11. The Business Manager shall report to the Board at its regular meetings the financial condition of the University, with such recommendations for appropriations as may be necessary; and also the transactions of his office for the quarter preceding, and oftener, if requested by the Board. His report shall include a detailed statement of all moneys received and from what sources, shall show the amounts paid to the Treasurer, and all accounts audited, warrants drawn, and balances standing to the credit of the different funds. 12. The Registrar shall report in detail to the Board, at each regular meeting, the number of students, who, during the quarter preceding, were indebted to the University for term fees, tuition, deposits, and all other financial obligations imposed by their attendance upon the University. 13. No department of the University shall receive any funds unless specially authorized by the Business Manager, in writing, to do so. In all such eases he shall furnish the department so authorized a book in which the proper person shall enter a record of all transactions, specifying the date, the person from whom the money was received and the purpose or consideration for which it was received, and at the end of each month, or oftener, if