Report of the President 97 



IV. FINANCES, MAINTENANCE, ENDOWMENT 



Charles Lanier, Treasurer 



The various financial transactions of the Museum have 

 been recorded in the several accounts. The actual bookkeep- 

 ing and the clerical work necessary in the preparation of bills 

 for payment have been carried on at the Museum under the 

 direction of the Bursar, Mr. Frederick H. Smyth. The United 

 States Trust Company of New York has continued to be the 

 depository of the active Museum funds, and as Assistant 

 Treasurer has made a monthly audit of the accounts in the 

 Treasurer's Office. Four separate accounts are required to 

 record properly the main financial operations of the Museum. 

 These are: the Endowment and Investment Account, which 

 deals solely with the moneys for the permanent endowment; 

 the City Maintenance Account, in which the receipts and ex- 

 penditures of moneys received from the City for maintenance 

 are recorded; the General Account, in which are handled the 

 funds other than City appropriations, required for the general 

 running of the Museum, and the Special Funds Account, used 

 for recording all moneys received and disbursed for specified 

 purposes. In addition to these, smaller accounts are main- 

 tained to provide for certain contingencies. Acting under 

 instructions from the Auditing Committee, the Audit Com- 

 pany of New York has made semi-annual examinations of all 

 the Treasurer's books. 



The details of the Treasurer's report will be found on pages 

 101 to 119, inclusive. 



The additions to the endowment fund for the year amount 



to $8,556.72, of which $4,956.72 was received from the 



_ , _ estate of Frederika Gade, and 



Trustees Permanent 



_ , . $3,600 from membership fees. 1 he 



Endowment Account ^° . , , 



prospective receipts include the 



magnificent bequest of Mrs. Morris K. Jesup of $5,000,000 



