Perth Amboy evening news., 1912-10-28
FISCAL YEAR OF
STATE CLOSES.
Departments Closing Up Ac-
count for October 81.
(From the NEWS Correspondence

VI fOHt tue 'toPCHbSHts'
Trenton, Oct. 2S.-The fiscal year
of the o,dLe OF New jersey Tor
1912 will close next Thursday, and
al er the udy S business has been
completed on Thursday afternoon,
lta.o Comptroller Edward /. Ed
wa DIS will send to Governor Wood
row wilson the usual statement
showing the balance i'll the state
treasury. there is now going on in
p actically all of the state depart
NETS a scurry ing to close up ac-
counts, preparing tor the opening
of new accounts on Friday morning
and a general cleaning up of business
in readiness for the e ginning of the
new fiscal year.
The net balance in the treasury re-
ported october 81, last, was ST.
332,362. This did not include
$y,7,4l9 of railroad taxes due the
counties for public school purposes.
Neither State Treasurer voorhees, nor
the the state Comptroller Edwai DIS
have given any mixing as to what
the balance viii be next week, and in
fact 1t could not be ~forecasted until
all the states business for the year
is closed up. The report this year
VIII not show such a large amount OF
railroad taxes on hand, as more
than 100000 from this fund has
Just been distributed to the public
schools under a compromise agree
ment, after having been held nearly
a year because of railroad litigation
over the assessments against them.
The issuing of the little report
by the State Comptroller, as signifi-
cant as it is of the condition of the
stat g strong bax, conveys no idea
t. the general public of the great
amount OF work involved in closing
up one fiscal year and opening an
other one. The states bookkeep ing
is noted for its accuracy. The Sys-
TEN is practically in duplicate, both
the Treasurer and the Comptroller
keeping separate books and every
business day OF the year the books
in each department must balance to
a cent. If the books in either de-
partment should be out of balance
with the other department, even to
the smallest sum. the entire force of
clerks and bookkeepers would ave
to work overtime to discover the err
| ror and correct it before the opening
of the next days business. By the
financial system in use there is a
double check on every cent expended
for the state government, whether
it be the $4,000 annual salary paid
to the Governor or some hinor claim
of a dollar or two to some small
creditor.
No bill against the state can be
paid until the State Treasurer has
the warrant Of the State Comptrol-
Ter for the amount. The State
Comptroller holds the receipted bill
for claim, while the State Treasurer
holds the Comptroller's warrant as
his voucher for the payment. and In
this way every item against the state
is not only entered In both sets of
| books, but each department has its
| proper authorization for the payment
of the money. The states cash bal
ance Is struck at the close OF every
business day in both departments
and at the end of each month a trial
balance is taken.
In the Office of State Treasurer
| Voorhees, a double set of books Is
kept. There is a general double en-
try bookkeeping system the same as
in use by any big business concern