236 ANNUAL REPORT SMITHSONIAN INSTITUTION, 1961 



istered by the Institution under Federal appropriations. The accoxints of the 

 Institution are maintained on the basis of cash receipts and disbursements, with 

 the result that the accompanying statements do not reflect income earned but 

 not collected or expenses incurred but not paid. 



In our opinion, subject to the matters referred to in the preceding paragraph, 

 the accompanying statement of private funds presents fairly the assets and 

 funds principal of Smithsonian Institution at June 30, 1961 ; further, the accom- 

 panying statement of current general private funds receipts and disbursements 

 and several statements of changes in funds, which have been prepared on a basis 

 consistent with that of the preceding year, present fairly the cash transactions 

 of the private funds for the year then ended. 



Peat, Maewick, Mitchell & Co. 

 Washington, D.C. 

 8epteml)er 11, 1961 



Respectfully submitted. 



(s) Clarence Cannon, 

 (s) Caryl P. Haskins, 

 (s) Robert V. Fleming, 



Executive Com/mittee. 



