Repository: UIHistories Project: Board of Trustees Minutes - 1930 [PAGE 168]

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1929]

UNIVERSITY OF ILLINOIS

165

REPORT O F AUDIT The Secretary presented for record the report of the audit for the quarter ending December 31, 1928. March 25, 1929 Board of Trustees, University of Illinois, Urbana, Illinois Dear Sirs, W e have audited the accounts of the University of Illinois for the quarter ending December 31, 1928. W e verified the account of Cash Receipts and Disbursements as shown by the books of the Business Office. W e have verified all items of Cash, Investments and Receivables as shown in the Balance Sheet. W e have also verified in total all disbursements made on account of the University by the State Auditor. In our opinion the statements contained in the Comptroller's report reflect the truefinancialcondition of the University at December 31, 1928. Yours faithfully, Arthur Young & Co. TREASURER'S BOND APPROVED Mr. Trees presented, for the Finance Committee, the bond of the Treasurer, with certain letters concerning the responsibility of the sureties who signed the bond.

BOND K N O W ALL M E N BY THESE PRESENTS, That we, Arthur M. Burke,

as Principal, and Eugene I. Burke, Joseph C. Dodds, Orin L. Percival, David B. Wright, Arthur Sheridan, Allen F. Moore, M a t h e w W . Busey and Almond W . Stoolman, as sureties, are held and firmly bound unto the Board of Trustees of the University of Illinois, in the penal sum of One Million Five Hundred Thousand ($1,500,000.00) Dollars lawful money of the United States of America, for the payment of which sum well and truly to be made, we bind ourselves, our respective heirs, executors, administrators and assigns, and each of them, by these presents. T H E C O N D I T I O N of the above obligation is such that W H E R E A S , the above bounden Arthur M . Burke, was on the 12th day of March, A.D. 1929, duly elected to the office of treasurer of the University of Illinois, for a period ending on the 12th day of March, A. D. 1931, or until his successor shall be appointed and qualified and is about to assume the duties of said office: N O W , T H E R E F O R E , i the said Arthur M . Burke shall well and truly perf form and faithfully discharge the duties of Treasurer of said University of Illinois, during his term of office, and shall faithfully keep and truly account for all moneys, bonds, securities or other property coming into his hands as such Treasurer, during his term of office, and shall pay when properly drawn and presented to him all warrants, authorized by the Board of Trustees of the University of Illinois, drawn against funds in his hands belonging to the said University of Illinois, and at the expiration of his term of office, on due request to him, shall pay over and deliver to his successor in office, or to any other person duly authorized by the Board of Trustees of said University of Illinois to receive the same, all moneys, bonds, securities or any other property received by him as such Treasurer and not otherwise lawfully paid out or disposed of, and shall deliver to his successor in office, or any other person appointed to receive the same, the property, papers, and other things in his hands belonging to said office, and shall at the expiration of his term of office, or oftener, i thereunto f requested by the Board of Trustees of the said University of Illinois, render a just