The Tipton advertiser. [volume] (Tipton, Cedar Co., Iowa) 1856-1962, 1873-02-27


former sum $4,000 had been drawn
from the treasury, and S9,479.04 APP
piled on Improvements. The man
agement of the trustees, and their
method of keeping accounts, receive
favorable mention.
The fiscal affairs OF the State Uni
versity at Iowa City are not SO highly
spoken Of The amount appropriated
for various pusposes, at the last session,
was $4,000. I'm June, 1872" says
the report, "by order of the Regents,
this appropriation, and the interest
and the miscellaneous funds were
combined in one, known as the income
fund.- The effect Of this step was to
render it difficult to show how the
various specific appropriations had
been expended, and to confuse the
interest account. There are also some
Discrepancies in the statements Of the
Secretary and Treasurer, for the pres
ent fiscal year, the former giving the
amount of warrants drawn since June
at S26, 24l, while the latter has paid
out S33, 702. 40. OF the unexpended bal
ance of the appropriations, given at
S4S, 42S &c. q portion at least is loaned
out on personal security, though the
Regents have not authorized such
loans nor fixed the rate of interest.
No evidence was found that an ac-
count is kept of interest accruing on
the endowment fund, or of moneys
derived from tuition and other sources,
but oil are merged in the general bal
ance on hand. The committee en-
dorse the reliability Of the treasurer,
but they pointedly object TO this system
of keeping track of the finances of
such an institution.
The appropriation to the Iowa Re-
form School at Eldora was S45, 900, of
which sum 5000 has been drawn
and Slo,9l464 expended. Contracts
have been made for the erection OF
buildings, in all respects as required.
The Hospital for the Insane at Mt.
Pleasant is entitled to S2l, 700, under
the law passed last winter, Of which
$40, 400 has been drawn, and So, 1864
expended. Here, again, the various
funds are mingled together, SO that
their condition cannot be readily as
certainej. A different method, and
additional checks on disbursements, /
are suggested.
The sum of so, 900 was appropriated
for the new Penitentiary at Anamosa.
OF this amount SIS, 1904 have been
drawn and expended. The commit
tee found nothing to criticise.
The Hospital for the Insane, at In
was to have 500, 900, of
which only S4,373l5 now remains in
the treasury. The committee express
their confidence that the appropriation
1as been prudently and faithfully ex.
pended
The Fort Madison Penitentiary was
flowed Sl4,O0O for certain improve
nents, which have been completed
or about one-half the appropriation.
he total expenditure was Sc, 472 &c,
nd Of the amount drawn balance of
l27 ga now remains in the Warden's
lands, with which he is charged.
The last institution noticed is the
College at Ames, which
las been very thoroughly advertised
" the Rankin disclosure. The sum
If S3s, 800 was appropriated last year
Tor certain specified purposes. Most
Of it went elsewhere than to the col
lege. But work on the improvements
has gone forward, and gas works,
which the legislature declined to au-
thorize, have been put in. The COM
mittee note the fact that the work
commenced will exceed the appropria-
tions slightly. Some other Irregular
ties are noticed, but none of particular
moment.
The report concludes with general
remarks showing that our State insti- |
tuions should be thoroughly overhaul
ed and their financial affairs placed on
q more certain and responsible basis.
Some Of these recommendations. it
affords US pleasure to say, were crys-
talized into the form Of law before the
adjournment Of the Legislature.
Hereafter moneys can only be drawn
from the State Treasury in monthly
which will tend to cor
rect many of the Irregularities which
have crept into the old system. Dap-
export Gazette.