The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1929-06-06
Cash FUND OF
CITY SCHOOLS !.
IS ABOLISHED
Controller Holt Orders
Change In System
Before July |.
HITS IRREGULARITIES
$4,000 Annually Available
to Principals Under
Present Plan.

Discontinuance Of the Indian
apolis school boards petty cash re-
volving fund system before July
was ordered today by City Controller
Sterling r. Holt.
Under state law Holt is the
auditor of school board accounts, all
though he is an appointee OF the
civil city.
The revolving fund. which is UNI
derstood to exceed $4,000 annually.
was declared irregular" by Holt at
a conference with G. G. York, busi-
ness director, and Frank L, Reissner,
board secretary. 1t Is said about a,
score of school officials, including
high school principals, have access
to the revolving fund plan.
Orders New System
The conference failed to evolve a
satisfactory plan of financing, it
was said. Holt ordered York to
work ollt'' some system before the
start Of the new fiscal year.
Other 'irregularities" which are
understood to have drawn the critt-
cism of the controller we're failure
to send vouchers through with the
proper affidavit and issuance of
some checks on funds with an in
sufficient balance.
Principals use the revolving fund
plan to buy articles for the schools
without permission of the board, re-
ceipts being presented along with
requests for replenishment of the
500 funds. 1t was pointed out that
the system might permit padding"
of accounts. There is no law author~
izing the petty cash. fund.
New Plan Suggested
It was suggested at the conference
that principals send bills for pur-
clnases to the board, allowing them
to be approved in regular manner.
and monthly vouchers issued.
Reissner is said to have $1,000
revolving fund, which he uses for
payment Of express, telephone, tele-
graph and other minor bills" A
plan Of issuing vouchers monthly
probably will be substituted.
Holt denied the request of school
officials that Arthur C, Thomas,
deputy controller in charge Of school
accounts, move his Office to the
school building so he would be
''closer in touch with affairs.
York said he and Reissner were
attempting to carry out the request
of Holt.
THE only system I can find at
present to avoid a, petty cash fund
is to charge everything we now buy
from this fund, f1rs& getting an or
der from the board of1ce,' York
said.
Might Waste Money
This might prove expensive, as
a carpenter receiving 81 an hour
needing a few nails might have to
waste lot Of time getting an or
der instead Of buying the nails at
the nearest store, obtaining a
receipt and later receiving his
money when he turned in the
receipt"
Reissner said the petty cash funds
amount in all to $2.125. They are:
Reissner, $1,000; buildings and
grounds department shops, $500:
library, 500; Arsenal Technical
high school, 5000; 5hortridge and
Washington high schools, 500 each:
Broad Ripple, Manual Training and
Crispus Attacks high schools, $50
each, and Mrs. Jeanette Williams,
director of school for exceptional
children. $175.
Practically every business has d
petty cash fund to avoid loss of time
in making small purchases, such az
a, 15-cent ruler" Reissner said.
None of the money is lost, those
holding it being required to account
for every penny by receipts or cash."