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Caption: Board of Trustees Minutes - 1906
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322 UNIVERSITY O F I L L I N O I S . A U D I T REPORT. [March 13 T h e Finance Committee made the following r e p o r t : UNIVERSITY OF ILLINOIS, March 13, 1906. To the Board of Trustees;, Your Finance Committee presents herewith the report of The Audit Company of Illinois upon the receipts and disbursements of the Treasurer of the University and the accounts of the Business Manager from July 1, 1905, to Dec. 30, 1905. ALEXANDER MCLEAN, Chairman Finance Committee. CHICAGO, March 1, 1906. Mr. Alexander McLean, Macomb, Illinois: DEAR SIR—In accordance with your instructions, we have made an audit of the cash receipts and disbursements of the Treasurer, and have partially examined the accounts of the Business Manager of the University for the period from July 1, 1905, to Dec. 30, 1905, and submit herewith the following statement: Exhibit A, statement of cash receipts and disbursements. Exhibit B, reconcilement of receipts and disbursements. Exhibit O, statement of condition of cash balance Jan. 1, 1906. Exhibit D, trial balance as of Dec. 30, 1905. Schedule i , warrants outstanding First National Bank, Dec' 30, 1905. Schedule 2, warrants outstanding State Bank, general fund, Dec. 30, 1905. Schedule 3, warrants outstanding State Bank, College of Medicine, Dec. 30. 1905. Schedule k, warrants outstanding State Bank, School of Pharmacy, Dec. 30, 1905. Schedule 5, warrants outstanding State Bank, Agricultural Experiment Station, Dec. 30, 1905. The Manager's accounts from July 1, 1905, to Sept. 30, 1905, and those of the Chief Clerk from Oct. 1, 1905, to Dec. 30, 1905, were examined. In connection with these accounts, we verified all detail work, such as cash book footings, cash book and journal postings to ledger, etc. The books of the Chief Clerk are neatly kept and are in good shape. We would, however, recommend that all cash collected directly by Mr. H. A. Haugan, Treasurer, be posted to the ledger through the cash book, and total cash receipts and disbursements posted monthly to the ledger, so that the total amount of cash receipts and disbursements may be seen at a glance, thus curtailing the amount of work on the part of the auditor, etc. The Treasurer's accounts were verified and all vouchers checked. Yours very truly, C. W. KNISELEY, C. P. A., Manager.
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