Repository: UIHistories Project: Board of Trustees Minutes - 1922 [PAGE 139]

EXTRACTED TEXT FROM PAGE:

1920]

UNIVERSITY OF ILLINOIS AUDIT REPORT

133

The Secretary presented also for record the report of Arthur Young and Co. for the quarter ending September 30, 1920.

November 15, 1920 Board of Trustees, University of Illinois

DEAR S I R S :

We have audited the Cash Receipts and Disbursements of the University of Illinois for the quarter ending September 30,1920, and certify that the Receipts and Disbursements, as embodied in the report of the Comptroller for that period, are in accordance with the books, and, in our opinion, are correct. Yours faithfully, ARTHUR YOUNG & COMPANY COMPTROLLER'S REPORT

President Kinley reported for record the report of the Comptroller for the quarter ending September 30, 1920.

October 13,1920 President David Kinley, 355 Administration

M Y DEAR PRESIDENT KINLEY:

Bldg,

I beg to transmit herewith the monthly report of the business office which is also the quarterly report of the Comptroller to the Board of Trustees for the three months ending September 30, 1920. Realization of Income On page 3 appears a statement showing to what extent the estimated budget income was realized to September 30, 1920. From this it will appear that one-half of the interest on the Endowment Fund, the whole of the Morrill and Nelson Funds, one-fourth of the Hatch and Adams Funds and one-half of the Smith-Lever Fund were received by the University during the past quarter and deposited with the Treasurer. It will also be seen that the total amount collected under the 2-3 Mill Tax to meet our appropriations for the present year of $2,500,000 was at September 30, $2,323,296.11. The University Budget as at September 30> 1920 This statement, page 134, shows a summary of budget appropriations to the various Colleges and Departments at September 30, 1920, including all appropriations from budget income but exclusive of revolving funds. The total of these appropriations at that date was $3,389,674.84. Income Account On page 135 appears an exhibitof the Income Account showing the additions to the original budget as passed by the Board of Trustees in March including additional estimates of income and additional appropriations. From this statement it will appear that the free balance of income at September 30, 1920, which is the balance of the reserve and contingent fund, was according to the books of the Business Office $143,818.54. I call attention to the fact, however, that there were in process at that time, but not yet entered on our books, additional appropriation items mostly for increases in salaries amounting to approximately $12,000 so that the real balance in the reserve and contingent fund at September 1, 1920 was, therefore, approximately $130,000. Receipts and "Disbursements On page 135 appears a summary of the receipts and disbursements from all funds further supported by the detailed schedule of receipts on pages 136-138 inclusive and on disbursements from appropriations on pages 139-147 inclusive. From page 135 it