The Bennington evening banner. (Bennington, Vt.) 19??-1961, 1919-10-10
PROPOSES NEW SYSTEM
OF AUDITING ACCOUNTS
Continued from Page one)


be exhibited as charges to the appro-
pirate accounts for the year in which
the obligations are incurred, and as
liabilities, of the state as of the close
of the fiscal period. Unless this is
done, the published reports of expen-
ditures and liabilities must continue
to fall short of presenting true or
dependable exhibit of the states fl
nances.
1t is my further recommendation
That consideration be given to the ad-
visibility of providing for the publ
cation of an annual report by the audi
tor, in condensed form similar to the
report now issued by the treasurer.
81 would also suggest the desira-
bility of planning ultimately to place
state accounting on a revenue and ex-
pense basis, in place OF the present
cash basis and thus to make possible
a more effective system OF budget
control and more broadly useful re-
port Of financial results and condi--
tons. Such improvements probably
cannot be brought about quickly or
without careful study of the best
seems to be no serious obstacle %
successful developments in the direc-
tion indicated. Once the changes are
effected, am confident that the inn
proved system would be found but
slightly more difficult to operate, and
vastly more serviceable in the infor
nation yielded.
"The inconsistency of legislative
acts authorizing the employment of
assistants needed to carry on the bust
ness of an office, and elsewhere limit
ing the salaries available for the off
ice to an amount manifestly INSULT
cient is presumably to be ascribed to
an oversight. ! venture nevertheless
to suggest the desirability of remov-
ing or modifying statutory limitations
salaries authorized for certain offices,
notably the officec of the auditor of
accounts, so that the scale of salaries
necessary to the maintenance of an
office may have unquestioned legal
sanction.
'In line with previous recommends
tions. would further suggest the adj
vantages of extending the auditing
functions of the auditor TO include
monthly examinations of the accounts
of the treasurer and also periodical
examinations of offices receiving reve-
nue. from initial sources. In this con
nection the appointment of reven -
clerk in the auditors Office, provided
his functions are made broad and are
carefully defined should be produc-
tive of excellent results.
81 wish finally to direct attention
to the fact that the system now in
operation assigns to the treasurer
alone responsibility for the receipt,
custody and disbursement of funds.
and relieves the auditor of functions
by virtue of which he formerly acted
as disbursing officer of the state I'm
der present conditions, there it ap-
pears that the Importance of requir-
ing an exhaustive annual examination
of the auditors records by independ-
ent accountants has been lessened.
Furthermore, If the new system is car
ried to its logical conclusions, and the
functions of the auditors Office are ex
tended to include periodical examina-
tons of the accounts of the treasurer
and of other officers responsible for
collecting revenue, it would appear
that a self-contained system of inter
nal check had been evolved, and that
an audit of the treasurer's accounts
by independent accountants would be
relatively less significant than under
former conditions"