The Greenville journal. [volume] (Greenville, Ohio) 1850-1918, 1907-09-26
SYSTEMATIC
Plan Of Public Accounting In
Use In Colorado.
AN EXAMINER AND DEPUTIES
To Keep Track Of Az the Financial
Institutions Handing Public
Funds In That State.

Colorado has passed a law provid-
ing for system OF public accounting.
Governor Jesse F. Mcdonald in his
biennial message, and Governor Henry
A. Buchtel, in his inaugural address,
recommended that q state examiner
and a sufficient number of deputies be
appointed to keep track of the busi-
ness of all financial institutions han
ding public funds During the last
session of the legislature Q9O7) an
act was passed creating the office Of
public examiner and establishing q
uniform system of public accounting
and reporting. This official, who SUI.
perintends and examines public ac-
counts, is appointed by the state audi
tor and the only restrictions imposed
are that the person appointed shall be
a qualified elector, having a thorough
knowledge of public accounting and
be fully qualified to discharge the
technical and executive duties of his
Office. The public examiner appoints
a chief deputy examiner, who must
also be skilled accountant. Their
salaries are $500 and $l,S00 and to-
gethsr 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-.
scr. be and install a uniform system
of accounting before January 1, 1909.
The 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.
ton of all public property and all
sources of public income; and the
amount due and receivable from
each source. In short, 1t is to be a
complete and uniform system of book
keeping, which will shew receipts and
expenditures in their Rhnltest detail.
AS soon as such a system is decided
upon the public examiner is to install
it and instruct public officials as to its
operation and use 1t is the duty If
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 properly
every public official or employe is "e
quired to afford him every reasonable
facility and assistance In making ex.
aminations. II any person required
to make returns and exhibits or give
information refuses Or neglects to dc
his duty, he Is to be deemed guilty
of misdemeanor and fined $500 As
safeguard against bribery, it is made
misdemeanor for the public exam
iner, the deputy or any one connected
with the public examiners Office tc
receive. eithe directly or indirectly
any pay for services or extra services
or neglect CT services.
1t is seldom disputed that a system
of public and uniform accounting Is q
benefit to the state and to the taxpay
ing public. The enactment of this
law is another step in the right direc
ton. Hitherto public accounts have
not as rule been carefully kept, ant
1t was almost impossible to tell JUS
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 t.
be introduced in Oregon, an exper
accountant can easily tell Just how
the affairs of the county and state
stand, A public servant entrusted
with the public funds is compelled tt
keep his books in business-llke way
Public business is the peoples bust
ness, and the people have just a
much right to know how the fund
are expended as the manager of a pri
vate concern.