REPORT OF COMMITTEE ON FINANCE.
Your Committee on Finance beg leave to report that they have examined the accounts and have found them duly audited. Attached to the auditor’s report there is a statement that all the funds which represent permanent property of the Society have also been examined, and everything is found in order. There is a balance in the treasury, Sept. 30th, 1881, of $518.80. The management asked last year for an increase of 25 per cent. in the contributions; the churches gave them an increase of 30 per cent. During the year there have been large improvements made, and some enlargements of the different educational institutions, so that they are now able to accommodate a much greater number of students than before; and if that opportunity is to be embraced, and these students who are clamoring for an education are to be instructed, it will require a larger outlay of money than that of the preceding year.
On the basis of the heartiness with which the churches complied with the request of last year, your Committee recommend that the management ask of the churches this year a little more still; and that, as against the $246,000 last year, the endeavor shall be made to raise $300,000 the present year.
The Committee desire reference to be made to some departments of the work where the need is special, notably the Chinese work, where there is ample room for a hundred-fold more of service. The Indian work also claims a special contribution, and the work among the Africans is always enlarging more and more.
I am requested to call attention also, in this informal way, to two provisions of the by-laws, that you may understand how financially secure this Society is, and how well-nigh impossible it is that there should, in any event, be any loss of its funds, or that they should be diverted from the use to which they are devoted.
On the sixth page of the report, concerning the Committee on Finance, it says:
It shall be the duty of the Committee on Finance to examine the accounts of the Treasurer for the month preceding each regular meeting of the Executive Committee, before such meeting, taking the books of account kept by him, and comparing them with his statement of the month’s receipts and disbursements and with the vouchers, and to certify to the correctness of such statement when approved by them. They shall also cause to be kept a book, wherein shall be set forth in detail, (1,) all stocks and bonds owned by the Association at par, with a note of the original cost of the same to the Association; (2,) all real estate (both land and buildings) and other property of the Association, with the full cost of the same; and (3,) all property held on special deposit or in trust. This book shall be at all times open to the inspection of the members of the Executive Committee, and the record shall be so added to and amended, from time to time, under the direction of the Finance Committee, as to show at all times a correct statement of the property of the Association, and of any special trusts in its hands.
The Committee desire to say on this point that they doubt whether any other benevolent organization can show a more careful guarding of the munificence of the churches; and on the basis of increased want and of larger opportunities and perfect safety, they ask that the churches this year put into the hands of the management the sum of $300,000.—E. S. Atwood, Chairman.