The Democrat-sentinel. [volume] (Logan, Ohio) 1906-1935, 1907-09-19
SYSTEMATIC
Plan of Public Accounting In
Use In Colorado.
AN EXAMINER AND DEPUTIES
To Keep Track of All the Financial
Institutions Handling Public
Funds In That State.

Colorado has passed a law provid
Ing for a system of public accounting
Governor Jesse F. Mcdonald in his
biennial message, and Governor Henry
A. Buchtel, in his inaugural address
recommended that a state examiner
and sufficient number of deputies be
appointed to keep track of the bust.
ness of all financial institutions han
| ding public funds. During the last
session of the legislature (1907) AN
act was passed creating the office of
public examiner and establishing a
uniform system of public accounting
and reporting. This official, who SUI
perintends and examines public &C.
counts, Is appointed by the state audi
tor and the only restrictions imposed
are that the person appointed shall he
a qualified elector, having thorough
knowledge of public accounting and
be fully qualified to discharge the
technical and executive duties of his
Office. The public examiner appoints
chief deputy examiner, who must
also be skilled accountant. Their
salaries are $4,000 and $1,000, and to-
gether they are allowed necessary
travelling expenses not to exceed $500
per annum
1t is the duty of the auditor of state
and public examiner to formulate, pre-
scribe and install a uniform system
OF accounting before January 1, 1909.
Ihe system of accounting and re-
porting when drawn up is to be
uniform for every state and coun.
ty official receiving and distribut-
ing public funds. 1t must be
drawn to show the true accounts and
detailed statements of funds collected.
received and expended for any pur.
pose, and the receipt, use and disposi-
tion OF all public property and all
sources of public income; and the
amount due and receivable from
each source. In short. it is to be
complete and uniform system of book.
Keeping, which will show receipts and
expenditures in their minutest detail.
AS soon as such a system is decided
upon the public examiner Is to install
1t and instruct public officials as to :ts
operation and use. 1t is the duty Of
the public examiner to visit without
notice and examine the accounts of
the state officers, institutions and
other Offices at irregular intervals, and
also to make an examination at any
time when ordered by the state
auditor.
In order to enable the public exam.
iner to perform his duties properIy
every public Official or employe is re-
quired to afford him every reasonable
facility and assistance in making ex.
aminations. If any person required
TO make returns and exhibits or give
information refuses or negleots to do
MS duty, he Is to be deemed guilty
OF misdemeanor and fined $500. As
safeguard against bribery, 1t Is made
misdemeanor for the public exam.
lner, the deputy or any one connected
with the public examiners ofice TO
receive, eithe- directly or indirectly.
any pay for services or extra services
or neglect of services.
1t is seldom disputed that system
of public and uniform accounting is a
dement, to the state and to the taxpay- |
ing public. The enactment of this |
law is another step in the right direc.
tion. Hitherto public accounts have
not as a rule been carefully kept, and
1t was almost impossible to tell lust
what the financial condition of the
city or county was, but at the present
time In states with a system like the
one prevailing in Ohio, or the one to
be introduced in Oregon, an expert
accountant can easily tell just how
the affairs of the county and state
stand. A public servant entrusted
with the public funds is compelled 10
keep his books in business-like way.
Public business is the peoples bust.
ness, and the people have Just as
much right to know how the funds
are expended as the manager of q pri.
Vate concern.