To the American Library Association:
In accordance with the provisions of the constitution the finance
committee submit the following report:
They have duly considered the probable income of the association for
the current year and have estimated it at $19,450, and have approved
appropriations made by the Executive Board to that amount. The details
of the estimated income and of the appropriations are given in the
January number of the Bulletin. The committee have also approved the
appropriation to the use of the Publishing Board to any excess of
sales over the amount estimated. The receipts and expenditures of the
Publishing Board have been included in the figures given, so that they
now exhibit the total financial resources and expenditures of the
association.
On behalf of the committee the chairman has audited the accounts of the
treasurer and of the secretary as assistant treasurer. He has found
that the receipts as stated by the treasurer agree with the transfer
checks from the assistant treasurer, and with the cash accounts of
the latter. The expenditures as stated are accounted for by properly
approved vouchers. The bank balance and petty cash, as stated, agree
with the bank books and petty cash balances. The accounts of the
assistant treasurer have been found correct as cash accounts.
On behalf of the committee Mr. E. H. Anderson has examined the accounts
of the trustees for 1911, has checked the securities now in their
custody, and certifies to the correctness of the figures, to the bonds
on hand, and the balance in bank. He finds that at par value the bonds
and securities amount to $102,500 for the Carnegie fund, and $7,000 for
the Principal account.
He has examined the vouchers for the amounts transmitted to the
treasurer and has compared the reports of the treasurer and trustees in
regard to the number of new life memberships. He certifies that to the
best of his knowledge and belief all of the accounts as submitted to
him are correct.
All of which is respectfully submitted for the committee.
CLEMENT W. ANDREWS, Chairman.
The following reports which had been previously printed, were read by
title and accepted.