The weekly register. [volume] (Point Pleasant, Va. [W. Va.]) 1862-1909, 1870-01-20
AUnITORS, REPORT.

ASbAAg VuASgNot ~ bApt VI wv - 4eNNNb' -
exhibits the present financial condition
of&be Stale and shows The saiOu, re.
sources Of the State BY counties. and
dstSiled exhibit Of The receipts and ex
peudilurss, for the fscsl year ending
9Oth September. 1869, fact that should
bs borne 10 mind. Al the commencement
Of the year The bsIsncs 10 the treasury
vas sIs. 800; during the year the re.
csiptS from all sources were S6Ii,
al 20, making the total resources
Seseal1 40. The disbursements du.
ring The year we're 1858 .O57 26i lesv>
ing The apparent balance in tho treasury
At the end of the year s76654 IA
This balance is. however, subject 10 a
reduction Of $40, 4s7 o.. warrants Issued
Outing the preceding year for the State
NoRuSl School. Under the act estob.
fishing that school the appropriation for
it was placed in the hands Of the Sec.
rotary Of State, by whom the account
"a kept. There being no account Of
this fund in tho Auditor's Office, there is
NECESSARILY discrepancy, to tho amount
Gift expended, between his account Of
the general bOlsnte in the treasury and
the actual balance; and this discrepancy
as hesays. must continue ill be is au.
tborized TO adjust this Normal School
account in his Office. The real balance
then is SOC, le7 10.
The above statement Of resources and
disbursements includes the operations Of
tbsyshOOl funds. There are two school
funds. One derived from the various
sources enumerated 10 the 1st section Of
the Xtb article Of the Constitution, is an
''irrsducible" fund. The principal
which is constantly accommodating, can.
not be togChed. It has 10 be invested
inc per cent. securities of The Uniied
States; or i, may lie 10 The State treasury
Che State paying 6per ceet. interest on
il. Only the interest on this fluid Gao
be expended, aud If q, the end Of tho
year there is any unezpODdcd interest,
it is added to the principal and becomes
part Of the irrstucibIe fund, The re.
port does not show The condition Of this
fuad fully. We must look 10 tie re.
port Of the State Superintendent Of
Schools. for that, The Auditor only
shows the dealings Of the treasury with
so much Of the fund as is uninvested.--
This explanation seems to be necessary
to an understanding Of the exhibit made
Of this fund.
OF this irreducibIs fund there was in
1bs treasury at the commencement Of the
year $34,4l7 IA. aud the receipts du-
ring The year we're Sla.492 80; making
atOtal Of $4,000 "a. During the year,
disbursements on orders Of the School
Board (Which is charged with custody oil
this fund) we're $a6.9IS o5. "Dis-
burssmsnls" hero means that this sum
(lsss whatever part Of it was for interest
.expendsd) was Withdrawn from the Irea'
ury and Invested 10 United States secu'
rites. The balance remaining in The
treasury at the end oil the year was SILL
Cos 80.
The balance ofgeueraI or "distribu'
table" school fund, derived from gcner'
al tsxoIion. &c" a. the beginning oil
the year was s4l.5so %; the receipts
during the year we're sl9l 200 SO; ma.
king total resources $9s5.ssO SO. The
disbursements during the gear wore
,Slss,44o 49, leaving balance Of this
frud 10 the treasury at the end Of the
.ysarof S07.44O 43.
According to these figures there is q
reduction Of expenditures this year over
last year. of sl9s. ss8 e5-a piece of
substantial economy of which the pres>
ent administration Of tho State may be
Justly proud.
There has been large falling OF this
yo6riu tho sccumulalions of The irredu.
chile school fund. They were but sl3.
-AOi so. while the year preceding they