Repository: UIHistories Project: Board of Trustees Minutes - 1930 [PAGE 174]

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1929]

U N I V E R S I T Y O F ILLINOIS

171

Form 2-28-4110-S used for cash receipts vouchers in the Business Office in Chicago Report of cash sales in the Dairy Department—This report has been made out on numbered forms until March 4, 1929, and thereafter on forms not numbered 2. T o take up, from time to time, thefilesof sales tickets, sales books and daily cash reports kept in the various Departments and to check portions of them, selected at random, into the books of account. This would furnish an independent test of the accuracy of the records in the Business Office and would assure the Comptroller that the departmentfilesare being maintained in their present condition, which w e found to be complete and orderly. 3. In order to facilitate comparison with the Registrar's records, the account, Income from Students' Fees, m a y advantageously be subdivided according to sources and semesters, as follows— Tuition and Laboratory Fees, Urbana, S u m m e r Session Tuition and Laboratory Fees, Urbana, First Semester Tuition and Laboratory Fees, Urbana, Second Semester Tuition and Laboratory Fees, Chicago, S u m m e r Session Tuition and Laboratory Fees, Chicago, First Semester Tuition and Laboratory Fees, Chicago, Second Semester Diploma Fees, Urbana, for Diplomas Issued October 19 Diploma Fees, Urbana, for Diplomas Issued February 19 Diploma Fees, Urbana, for Diplomas Issued June 19 Diploma Fees, Chicago High School Fees, Urbana Locker Fees, Urbana Locker Fees, Chicago In conclusion w e would state that while the audit for the quarter ending March 31, 1929, has been made in detail, the time occupied by regular quarterly audits m a y be shortened materially by restricting part of the work to substantial tests. These tests would extend along the different lines of investigation without, however, making a complete check of all items. In Appendix C we submit a Tentative Program of Audit which we consider adequate in connection with the system of accounting and of internal check n o w prevailing in the Business Office of the University of Illinois, with the changes recommended. If no irregularities are discovered in the course of an audit as outlined, w e would feel entirely justified in issuing an unqualified certificate. Yours faithfully,

Arthur Young & Co. CERTIFICATE OF A UDIT May 10, 1929

Board of Trustees, University of Illinois, Urbana, Illinois D e a r Sirs, W e have audited the accounts of the University of Illinois for the quarter ending March 31, 1929, and we hereby certify that, so far as we have been able to ascertain by a detailed audit, All Income which the University should have received during the period stated has been received and duly accounted for. All Disbursements have been made for University purposes and have Arthur Young & Co. been properly authorized, and the expenditures have been correctly recorded in the books of account. The Cash and Securities as shown by the books as at March 31, 1929, are correct in amount and have been verified by actual inspection, count or direct confirmation from the depositories. The Quarterly Statements Comptroller Detailed in months at that correct.31,1929, snowing the Balance Sheet andfor faithfully,our opinion, at date, together withReport of theof with the booksthe nineof Trustees as is March 31, 1929, is in accordance Operation to theand, Accounts asending Yours Board