The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1875-12-29
THE INDIANA STATE SENTINEL WEDNESDAY 2 1875

the fund was go ingeniously robbed OF its
money in this pretended payment, that
the friends of the public schools shall
consider the settlement a final one,
and and the >, common school fund
placed confidence. Had such transaction
been resoIted in banking, the deposition
could maintain an action on the contract
and receive judgment for the whole amount
OF the pretended payments and interest in
foil. The state, therefore, owes the school
fund including interest of $50, $50 90, $500
$50 90. He finds that the reports OF the re-
cepts and disbursements as regards the
funds, are incorrect, notably in 1861 and
1862, and has prepared exhaustive Ia
bic showing the condition of the fund
from 1859 to date. Two errors are
notable. At the close of the year 1860 the
auditor reported the excess of receipts over
Disbursements SIS, S4S IL, TO which he adds
balance due November 1, 1859. The amount
of this excess was here dropped from the
books and nowhere appears again to the
credit OF tn funds, as they only carry the
books to 1861. The balance due the fund
November i, 1859, being S255,o73 81. In the
year 1861, in balancing the amount
OF receipts on account OF de
lfnquent school tax of 1859
they name the sum at So, Isl 81,
just 5000 too much, as shown In that table
for this year. Again. in the year 1873 the
payment OF the states interest on the non.
negotiable bonds, the amount of which
should have been Sll7,l43 40 as
the October installment for the year
This amount, properly paid, would have
been another credit to the school fund, yet
at the end OF the year the fund is reported
overdrawn. There should be now
large balance to the credit OF
the school fund. The corrected
table shows that the balance in the fund at
the end of the fiscal year, October 81, 1875,
ADD preiended fe payments in 1855, isss q loo ~
sn $4,000 %
Add om on 1 too W
negotiable bonds omitted TO be paid
Oct' 81, 1lI,l43 80
Total i $40 81
Leaving out the interest the balance would
be s2SS, 299 81. There has not been an sbso-
lutte separation OF the various funds.
All accounts should be separately
kept. Then any mistake would have
been seen and corrected In the
effort to balance the funds with the cash.
The cash account with receipts and dis
bursements may be correct, but accounts
between the state and the trust funds are
grossly incorrect. Exact conditions of the
trust funds should be published each month.
The common school fund is by the constitu-
ton distinct from the "school. revenue for
tofore turned into the common school fund
should be credited to the school revenue for
tuition fund, and forfeitures and other iIems
of receipts belonging to the principal
should be credited TO the common school
fund. Here he mentions various sums
wrongly credited to the funds and thus caus
ing confusion. Discrepancies have arisen
because the settlement sheets of the county
auditor with the state superintendent have
only reported the amount collected from
the borrowers of the funds, instead of
statement of the amount OF loanable princi.
pal at each rate of and s
per cent. By requiring the same
statements to be made upon
the certified settlement report as those made
to the superintendent, the auditor of state
will be able to maintain justice between the
counties and the state. In other cases the
receipts In some other accounts of the
tuition fund have been greatly in excess OF
the amounts spportioped by the superin-
teudent. The excess of the liquor license is
S24, 1856; of unclaimed fees, S11 ,0i0 Is. These
discrepancies call for more comparison and
a closer relationship between the depart
meut of public instruction and the treasury
department. Phe treasurer expresses his
obligations to the Hon. Eb. Henderson,
John II. Psarcy, 7. b. Messick, 8. r. Dow
ney, James n. Smart and VIM. o. Foley, his
own efficient depuy.