J. S. Outland W. A. Hunter. H. P. Smith J. H. Lowe. S. Druet H. H Kratochvil C. A. Beems *C R. Woodruff. C. H. Ireland C. I. Nelson Miss A Treman Mrs. J. D McCarn. J. N. Noel J S Taylor M. J Leonard H. F. Haardt *E. E Lumadue J. E. Rhodey HH Thoeming.... G. Bradley A. A Maynard D. E. Beam *B. G. Rees T H. Lunsford J. A. Brummitt *R J. Riley H A. Turner T E. Patterson R. C Bowman *J. Dart W. F. Snyder M Boos L. A. Trump. *W. R. Grant.. CHAPTER X. THE EDUCATIONAL INSTITUTIONS. As required by Chapter One Hundred Eighteen, Laws of the Twenty-Seventh General Assembly, we examined on October 31st and November 1st, 1906, the accounts, vouchers, records, etc., of the State University at Iowa City. So far as we were able to determine all monies of the state have been properly accounted for, there being a voucher for every expenditure, the amounts duly entered in the voucher ledger, and all found to check correctly. Large and expensive buildings are being erected from the proceeds of the millage tax and an examination of the records indicated that competive bids had been secured and the contracts. awarded to the lowest responsible bidder. The endowment fund is, with the exception of a small amount of cash on hand, loaned on lands in Johnson and nearby counties, secured by first mortgage and as the amount loaned is much below the present value of the land, the security is considered ample. THE STATE NORMAL SCHOOL. The examination of the accounts, records and vouchers, for all monies expended at the State Normal School, was made November 7th and 8th, 1906. As at the State University large and commodious buildings involving heavy expenditures are being erected at this institution from the proceeds of the millage tax, and as far as we could determine, all contracts had been awarded to the lowest responsible bidder on competitive bids. The voucher record, and vouchers for every expenditure, were duly compared and found to check correctly, and all monies. received from the state treasury had been duly credited and accounted for. In the purchase of supplies competitive bids have been received and the minutes of the trustees indicate that the lowest bidder had received the award. THE STATE COLLEGE OF AGRICULTURE AND MECHANIC ARTS. On November 9th and 10th, 1906, we examined the records, accounts, vouchers, etc., of the State College of Agriculture and Mechanic Arts at Ames. Here also large and expensive buildings are in course of erection from the proceeds of the millage tax. The examination of the records show that due notice had been given and competitive bids solicited for the erection of the buildings and contracts awarded to the lowest responsible bidder. The vouchers were found to correspond with the book accounts, proper entries having been made of all expenditures, and due credit given for all monies received from the state treasury. In order to properly audit all the items composing the accounts of the hree educational institutions it would require the labor of an experienced accountant for a much longer period than we have felt warranted in giving to the work. So far as we are able to observe in the limited time that we have been able to bestow upon this work, the accounts of these institutions are much more systematically kept than in past years. |