The Socorro chieftain. [volume] (Socorro, N.M.) 1902-1959, 1907-12-07
Auditor Chas. V. Stafford Examines
Books Of School Of Mines
Kept by
c. 7. BROWN, sEC'Y AND TREAS
And Reports That Everything Is
in Good Condition and the
Account Correct.


Stafford was in Socorro a short
time ago on tour of the terri
tory for the purpose of auditing
the accounts of the various terri
torial institutions. Secretary and
Treasurer c. T. Brown of the
board of trustees of the School of
Mines turned his books of ac-
count over to Mr.. Stafford, who
has just submitted his report to
Governor Curry. The summary
of the report of the financial
transactions of the School of
Mines covers the period COM
mencing January 81, 1901, and
up to and including November b,
1907. The report shows that the
total receipts during that period
have been Sis, ,794.07, and that
the total expenditures have been
the same less S4,015.17 cash on
hand. After this summary the
report continues:
METHOD OF ACCOUNTING.
The books of account of this
institution as kept by the secre-
tary and treasurer, are simply
and correctly kept, and taken in
connection with vouchers and re-
ports of the president, as to mon
eyS received from fees, tuition
ETC., show in detail all receipts
and disbursements.
Itemized vouchers for all ma
terial or supplies purchased, and
services rendered, are taken in
duplicate; the original being re-
tanned on file in the Office of the
treasurer, and the duplicate filed
with the territorial auditor as re-
quired by statute.
AS will be seen by above state
ment, with exception of fees
from different sources, this in
stitution has practically no re-
ceipts except from territorial APP
preparation for maintenance,
and moneys derived from sale
and leasing of lands donated by
Act of Congress, June, 1898; the
former being carried on the
books under head of Regular
Fund" and the latter as "Perma-
nent Improvement" and Income
Funds" The receipts from
Territorial Treasurer, under
head of Income Fund" being
in reality an additional mainten-
ance appropriation, and to be
expended in the same manner
and for the same purposes as the
territorial appropriation for
maintenance, is credited direct
to that account, Irregular fund.- }
and not carried separately.
PERMANENT IMPROVEMENT FUND.
Being proceeds from sale of
lands, has been kept separate
from other funds and expended
for purposes of permanent inn
provements and original equip
ment, as evidenced by vouchers
on file in the Office of the Terri
torial Auditor. In some few in.
stances repairs on building and
replacing or renewing of equip
ment and apparatus has beer
charged to this account, which
might more properly have beer
charged to Regular" mainten
ance account, but in the aggre
gate the amount is comparative
ly small.
GENERAL MANAGEMENT.
With the exception of tn,
years 1908 and 1904, the institu
tion has been maintained wei
within the appropriations, bu
in those two years deficiencie
occurred, and il became neces
sary in order to meet all obliga
tions, to borrow money.
SEWN THOUSAND DOLLAR MOTH
The board by reduction of sal
aries of the faculty, and stric
economy in other directions
have been able to retire this in
debtedness in full, without re
sorting to call on the territor
for additional appropriation, an
ae shown hV statement had