The Iola register. [volume] (Iola, Allen County, Kansas) 1875-1902, 1883-01-12

| lection made to this plan, but, In my 1udS-
| this should not be done. No better security
1 can be offered for this investment than the
faith of the State of Kansas and its counties,
the State; then why should this direct tax
| upon the people be continued when money
is lying idle in the Treasury? The amount
| subject to investment by the close of jan
| uary next will not be less than $50, 900.
4 ANNUAL SCHOOL FUND.
The Legislature of 1879 discontinued the
| levy of a direct tax for school purposes,
hence since that date the income of this fund
has been derived wholly from the interest
| upon the invested Permanent School Fund.
including interest on the unpaid principal OF
schools lands sold. and the fifty dollar tax
on foreign Insurance Companies doing bust
| ness in the State. This income from June 30:
| 1880, to June 80, 1882, amounted to the sum OF
s5is, a2s 20, to which should be added the bal
making in all S659, 029.l9.
The disbursements during the same period
| were s35s,O16lS. leaving balance on hand
July !, lSs2, of 800, 953.Ul. The sum collected
! by the several school Districts of the State by
! direct taxation for educational purposes dnr-
| ing the same period amounted to g. !9r;,ss5 IS,
| making the total amount expended Tor the
| support of common schools in that time OF
$3.50, 002. G3-a sum greater per capita, in pro-
portion to population and wealth. than any
! other State in the Union. When it is consid-
cred that the direct taxes above stated are
| levied by the citizens themselves, at public
meetings held in the several school districts,
each separate and apart from the other, every
kansan may feel proud of the interest taken
in the education of the rising generation.
STATE UNIVERSITY PERMANENT FUND.
This fund, at the close of the fiscal year,
| amounted to s4S.123.59, of which amount Sl0,-
| 6!5. - was cash in the Treasury aud SIS OF IL
| in state and schooi District bonds, The in
| come from the invested fund, together with
| the interest on the unpaid principal OF Uni
yersity bonds sold, for the two years ending
June 30, 1882 amounted to Sl2 l0j.05, to which
should be added the balance of the interest
fund in the Treasury July ], lss2, VIZ, S5ls,
| making sum total of Sl2,626.0o. Of this
amount there has been drawn from the
Treasury during that period the sum OF S.
SOL o. leaving a balance on hand to the credit
of the State University interest fund on July
!, lSsl, of 81, 1879. The direct appropriations
made by the Legislature for the support of
this Institution for the two years amounted
tn the sum of S6t ,GoG.l2. OF this amount S6s,-
which should he added the sum of SJ,s5l.O6
interest fund expended, making a total of
So, 697-S5.
STATE NORMAL SCHOOL FUND.
The permanent fund of this institution at
the close of the riscal year, June 30, 1882
amounted to So, 013.1l, S264I5 of which is in
vested in bonds of the state of Kansas, and
I School District bonds. The balance. of S.,
Ssh, is cash in the Treasury.
The income to this fund from July ], 1881, to
June 80 lSS2, amounted to the sum of SO, SOS o.
and is derived from the interest on bonds
and also interest on the unpaid principal of
| sales of Normal school land. The eXpendi-
lures during the same period amounted to
$3.50. No appropriations were made by the
other than the interest derived from the
sources above stated.
STATE AGRICULTURAL COLLEGE. q
The appropriations made by the Legisla-
turc to this institution for two years ending
June 30, 1882. amounted to the sum OF $685.
129. %, the full amount of which has been
drawn from the Treasury. Or this amount
slI,s,s.oe was paid for the purpose of restor-
ing the endO wment and the income funds,
the balance for buildings and experiments.
have no information as to the receipts de-
rived from its invested fund, or from interest
on aidprincipalfrom sales of land. None of
these funds co ne into the State Treasury.
Neither have any information relative ta.tle
expenditures other than the amounts appro-
priated by the Legislature -
AGRICULTURAL COLLEGE FUNDS.
Ideem it important that the present system
of management oil the funds AMI securities of
the Agricultural College should be changed
As the law stands, all the funds of the lnsri-
tuition, including interest bearing securities
amounting to several hundred Thousand dol
lars, and constantly increasing, are held by
the Treasurer of the Board of Regents,
instead of the Treasurer of state, as was the
case prior to 1871, when they were under
control of State officers. This state of things
is exceptional. The endowment funds of the
State [ University are paid over directly to the
State Treasurer, and lie. with other officers.
are directed to invest theHi. and there gan be
dent policy should not be adopted in the case
of the Agricultural College.
All public funds should be under the con-
troll OF the State, where it is easy to fix re-
spOnsibility and to secure q more faithful ad
ministration of them than when scattered
over the state, and their management en-
trusted to so many hands. The concentra-
ton of financial management and control in
the hands of the trusted officials OF the State
lessons the temptation to abuse trusts, and
reduces the risk of loss. Where the funds of
College instance. hands
q business man, must he the case where
they are entrusted to a local treasurer there is
a constant temptation to maintain large bal
ances in cash. or funds which ought to be in
vested and become productive. The lodge
ment in the hands of a local treasurer, who is
engaged in business, of large amount of in
terest bearing bonds and securities. subjects
them to the danger of being pledged, in case
OF financial straits. as collateral for private
uses. The importance of placing the funds of
this important institution where they will re-
main secure and protected from possible loss,
is IA matter to which l ask your serious atten
ton The loss of the funds of another institu
placing the funds of any institution in any
hands outside the state Treasury.
PESITENTIARY.
You will have laid on your desks the report
of the Directors and Warden of the peniten-
tiary, giving n detailed statement of its oper-
ationS Tor the past two years, which makes a
very favorable showing for the management
of the institution. The Warden. in his report
to the Board of Directors, makes the follow
ing financial showing:
Total cash earnings. 50 ,54S "a
Coal furnished state Ins buttons. 1881 81
improvements and buildings, only. ls.467 %
Making a total earnings of........... l2O,102 so
Total expenditures for all purposes. l20,0i5 80
Leaving a balance for 1852 in favor
of the prison, over all expendi-
lures, of. ........................ CSC 81
This is favorable showing for the opera
tions OF the penitentiary, and the Directors
and Warden are entitled to great credit for
the business like, economical and profitable
manner in which the affairs of the institu-
ton have been managed. After a careful and
personal inspection of the workings of the
institution, and an examination into its man.
agement am well satisfied that the COM
pensation of some of the employees should be
increased. and graded so that long and faith