Page:A History of the University of Chicago by Thomas Wakefield Goodspeed.djvu/438

384 A mSTORY OF THE UNIVERSITY OF CHICAGO over to the Treasurer all moneys and securities. He signed all checks (these being also countersigned by the Secretary) and took the initiative in seeking investments for the funds of the University. The Auditor was responsible for keeping proper books of accounts setting forth the financial condition and transactions of the University. He exercised a general supervision over all accounts of every department which had to do with receipts or disbursements. He was authorized and required to obtain full and true reports of all such receipts and disbursements, and every officer who received and paid out funds was required to keep his accounts in a manner satisfactory to him. The Auditor was to supply such financial statements as the Board and its committees and the President of the University required. All claims against the University were examined by him and could only be paid on vouchers certified by him. If he questioned any claim or found the appropriation insufficient to pay it he was expected to submit the account to the Committee on Finance and Investment for decision. It will be seen that both these officers had large authority and corresponding responsibility. In 1900 A. C. Bartlett, one of the leading business men of Chicago, became a Trustee of the University. He was soon made chairman of the Committee on Finance and Investment and con- tinued in that position during the rest of the period covered by this history. He was in close touch with the Business Manager. Mr. Ryerson, President of the Board, was in close touch with both Business Manager and Auditor, and gave one the advantage of his great business ability and the other of his expert knowledge of accounts. The result was the gradual working out of an admirable business management and an unexcelled system of University accounting. The bookkeeping of all departments was concen- trated in the office of the Auditor. All persons handling cash were put under bond at the University's expense. All cashiers were required to make daily cash statements to the Auditor. They were subject to audit or transfer to other work without notice. Their work came under periodical examination during their vaca- tions and at other times. Books of account were balanced each month. An annual audit was made by outside experts who went