Repository: UIHistories Project: Board of Trustees Minutes - 1910 [PAGE 101]

EXTRACTED TEXT FROM PAGE:

1908]

PROCEEDINGS OF THE BOARD OF TRUSTEES,

63

(h) The secretary shall keep in a register an accurate account of each of the securities reported by the treasurer, 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. (i) The business manager shall be the general business agent and financial accountant of the University. He shall collect and account for all moneys from dues, fees, tuition, and all other sources not required to be collected by the treasurer. (j) 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 $50.00 in money may be classified as "petty business." (k) 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; 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. (1) The registrar shall report in detail to the board at each regular meeting after the close of a semester or a term of the University, the number of students who, during said semester or term, were indebted to the University for term fees, tuition, deposits, and all other" financial obligations (with the amounts of each) imposed by their attendance upon the University. (m) No department of the University shall receive any funds unless specially authorized by the business manager, in writing, so to do. In all such cases 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 the business manager shall request, the department receiving such money shall report to the business manager, upon a proper blank to be prepared for the purpose, a transcript of his memorandum book, and account, and pay over the moneys so received, and the business manager shall keep said reports on file in his office and shall enter in his books the funds so received.

EXPENDITURES, CONTRACTS, OBLIGATIONS AND PAYMENTS.

*34. (a) No expenditures shall be made except on the authority of the board, and after an appropriation of money therefor, as evidenced by its records. In an emergency requiring immediate action the president of the University and the business manager may, by concurrent action, incur an expense of not greater than $250.00, and the Executive Committee of the Board of Trustees may, of course, act in any matter at any time. (b) All appropriations shall lapse at the end of the fiscal year unless otherwise' specially ordered. By a vote of the board an appropriation may be made to lapse at any time. (c) Articles and materials for the University shall be purchased by persons or committees designated by order of the board. When none are designated, the business manager shall act as purchasing agent. (d) The business manager shall issue an order for purchase to persons authorized by the board to make purchases, but shall not do so unless the records of the board show that the purchase has been authorized and that the money for payment thereof has been appropriated. The order shall clearly set forth the articles or materials ordered and shall state the fund

* See section 37.