8 CARNEGIE INSTITUTION OF WASHINGTON. 



Article VI. 



FINANCIAL ADMINISTRATION. 



1 . No expenditure shall be authorized or made except in pursuance 

 of a previous appropriation by the Board of Trustees. 



2. The fiscal year of the In.stitution shall commence on the first day 

 of November in each year. 



3. The Executive Committee, at least one month prior to the annual 

 meeting in each year, shall cause the accounts of the Institution to be 

 audited by a skilled accountant, to be appointed by the Chairman of 

 the Board, and shall submit to the annual meeting of the Board a full 

 statement of the finances and work of the Institution and a detailed 

 estimate of the expenditures for the succeeding year. 



4. The Board of Trustees, at the annual meeting in each year, shall 

 make general appropriations for the ensuing fiscal year ; but nothing 

 contained herein shall prevent the Board of Trustees from making 

 special appropriations at any meeting. 



5. The securities of the Institution and evidences of property shall 

 be deposited in such safe deposit or other corporation and under such 

 safeguards as the Trustees and Executive Committee shall designate ; 

 and the moneys of the Institution shall be deposited in such banks or 

 depositories as may from time to time be designated by the Executive 

 Committee. 



Article VI l. 



AMENDMKNT OF BY-LAWS. 



I . These by-laws may be amended at any annual or special meeting 

 of the Board of Trustees by a two-thirds vote of the members present, 

 provided written notice of the proposed amendment shall have been 

 served personally upon, or mailed to the usual address of, each member 

 of the Board twenty days prior to the meeting. 



