Repository: UIHistories Project: Board of Trustees Minutes - 1930 [PAGE 177]

EXTRACTED TEXT FROM PAGE:

174

BOARD OF TRUSTEES

[May 17

Appendix A DETAILS OF EXAMINATION AND VERIFICATION FOR THE QUARTER ENDING MARCH31, 1929

Sales tickets, sales books and daily cash reports kept in the various Departments have been checked into the cash receipts vouchers and the charge journals in the Business Office. Students' fee cards on file in the office of the Registrar, of the Business Manager of the Chicago Departments and of the Principal of the University High School, together with the locker permitsfiledin the Bursar's Office have been totalled and agreed with the account of Income from Students' Fees. Income from Trust Fund investments has been computed and agreed with the income shown by the Trust Fund accounts. The Bursar'sfileof collections of students' loans and interest thereon has been checked into the cash receipts vouchers. Purchase orders have been examined with respect to quotations and delivery of goods to the respective departments. In the case of competitive quotations, both the successful and the unsuccessful bids have been inspected. The records of the Purchase Department show that during the quarter under audit, eighty-four per cent of all purchases have been made after quotations had been obtained. The Vouchers supporting all disbursements made through the State Auditor and the University Treasurer have been examined as to authorization, receipt of goods or services, agreement of prices with purchase orders, classification of expenditure and approval by the Comptroller and the Auditor. Pay roll vouchers have been checked against thefileof Appointees certified by the Secretary of the Board of Trustees and thefileof Employes certified by the State Civil Service Commission. In the case of temporary employes, the approval of the Head of the Department has been noted. The lists of vouchers certified to the State Auditor and the warrants drawn on the University Treasurer have been checked into the cash disbursements book. The lists of vouchers paid and returned by the State Auditor have been checked against the lists of certified vouchers in the Business Office, and the State Auditor's statement of warrants paid has been agreed with the records of the Business Office, taking into account vouchers certified but not paid at March 31, 1929. The signatures to the warrants drawn on the University Treasurer have been verified by presentation to the persons delegated by the Board of Trustees to sign warrants. The cash receipts vouchersfiledin the Bursar's Office have been examined as to supporting vouchers and have been checked into the cash receipts book. The cash receipts vouchers in the office of the Business Manager for the Chicago Departments have been checked against the deposits shown on the statements of the depository Bank. The cash receipts book, cash disbursements book, the charge journals and the general journal have been footed and the postings to the general ledger have been checked. The footings and balances of the general ledger accounts have been recalculated and proved correct. The cash account with the University Treasurer has been checked against the statements rendered by the Treasurer, and the balance as at March 31, 1929, shown by the books has been reconciled with the balance shown by the statement of the Treasurer of the same date, taking into account warrants outstanding at March 31, 1929. Warrants outstanding at December 31, 1928, have been checked into the reconciliations prepared by us as at December 31, 1928, and as at March 31, 1929, respectively. The amount shown to be in the hands of the University Treasurer at March 31, 1929, has been verified by confirmation received directly from the depository Bank and by inspection of certificates of deposit held by the Treasurer. Petty fund investments individual by actual inspection on file. with the securities. examined have Banks. the controlling beenthe in the reconcilement ofthe statementstotalled and have been verified accountsaccountaccounts receivable ledger haveTrust cash funds agreed with been verified bycount notes generalcount notes Accounts depository been verified by inspection of totalled and agreedThe with Students'Receivable.—The have been of loans as to collectibility and have in the and and ledger.