REPORT OF THE FINANCE COMMITTEE
To the American Library Association: Ladies and Gentlemen:—
In accordance with the provisions of the constitution, the Finance Committee submit the following report:—
They have duly considered the probable income of the Association for the current year and have estimated it at $21,915.00, and have approved appropriations made by the Executive Board to that amount. The details of the estimated income and of the appropriations are given in the January number of the Bulletin. The committee have also approved the appropriation to the use of the Publishing Board of any excess of sales over the amount estimated.
On behalf of the committee, the chairman has audited the accounts of the treasurer and of the secretary as assistant treasurer. He has found that the receipts as stated by the treasurer agree with the transfer checks from the assistant treasurer, and with the cash accounts of the latter. The expenditures as stated are accounted for by properly approved vouchers. The bank balance and petty cash, as stated, agree with the bank books and petty cash balances. The accounts of the assistant treasurer have been found correct as cash accounts.
On behalf of the committee, Mr. E. H. Anderson has checked the securities now in the custody of the trustees, and certifies that their figures in regard to the securities on hand are correct. He finds that at par value the bonds and other securities amount to $102,500.00 for the Carnegie fund, and $7,000.00 for the principal account. He certifies that to the best of his knowledge and belief the accounts submitted are correct.
All of which is respectively submitted for the committee.
CLEMENT W. ANDREWS,
Chairman.