REPORT OF THE BOARD OF REGENTS. 105 



The itemized report of the auditor confirms the foregoing state- 

 ment of receipts and expenditures and is approved. A summary of 



the report follows : 



Capital Audit Co., 

 Metropolitan Bank Building, 



Washington, D. C. 

 Executive Committee, Board of Regents, Smithsonian Institution. 



Sirs: We have examined the accounts and vouchers of the Smithsonian In- 

 stitution for the fiscal year ended June 30, 1918, and certify the following to 

 be a correct statement : 



Total disbursements $173, 077. GS 



Total receipts 1G5, 135. 02 



Excess of disbursements over receipts 7, 942. GG 



Amount from July 1, 1917 9, 232. 56 



Balance on hand June 30, 191S 1, 289. 90 



Balance as shown by Treasury statement as of June 30, 1917 5, 794. 38 



Less outstanding checks 4, 806. 25 



Balance 988. 13 



Balance, American National Bank '. 101.77 



Cash on hand 200.00 



Balance June 30, 191S 1, 2S9. 90 



The vouchers representing payments from the Smithsonian income during 

 the year, each of which bears the approval of the secretary, or, in his absence, 

 of the acting secretary, and a certificate that the materials and service charged 

 were applied to the purposes of the Institution, have been examined in connec- 

 tion with the books of the Institution and agree with them. 



Capital Audit Co., 

 By William L. Yaeger, President. 



All payments are made by check signed by the secretary on the 

 Treasurer of the United States, and all revenues are deposited to the 

 credit of the same account, except in some instances small deposits are 

 now made in bank for convenience of collection. 



The practice of investing temporarily idle funds in time deposits 

 has proven highly satisfactory. During the year the interest derived 

 from this source has amounted to $1,275. 



Your committee also presents the following summary of appro- 

 priations for the fiscal year 1018 intrusted by Congress to the care 

 of the Smithsonian Institution, balances of previous appropriations 

 at the beginning of the fiscal year, and amounts unexpended on June 

 30, 1918 . 



