Financial Administration ioj 



FINANCES, MAINTENANCE, ENDOWMENT 



During the year 1917, several changes in recording the finan- 

 cial transactions have been made. It was deemed advisable to 



separate the General Account into two ac- 

 Establishment of counts : First, the General Account, wherein 

 FunT Account" 15 are recorded the unrestricted funds of the 



Trustees, which include mainly the income 

 from the General Endowment, membership dues, subscriptions 

 of Trustees for general purposes, interest on bank balances, 

 and receipts from sales and exchanges of specimens and from 

 sales of publications; second, the Morris K. Jesup Fund Ac- 

 count, which was created to carry out the intent of the Will of 

 our late President Morris K. Jesup, and of the subsequent 

 Will of his wife, Maria De Witt Jesup. 



In order to show the increase of the main sources of re- 

 ceipts of the General and Morris K. Jesup Funds, 

 Comparison j n com p ar i SO n with 1916, they are treated below 

 as one account : 



1916 1917 



Income of General Endowment $57,211.88 $58,459.86 



Income of Morris K. Jesup Fund 202,050.86 267,009.06 



Membership Dues 29,3-44.00 32,084.00 



Sales and Exchanges and Sale of Publications . . 4,698.62 5,252.15 



Subscriptions of Trustees for General Purposes . 43,500.00 59,000.00 



The second modification contributing to greater efficiency in 

 the method of conducting the finances of the Museum has 



been the substitution of endorsement on checks 

 Receipt by for receipted bills. Mr. Frederick H. Smyth, 

 Endorsement Bursar, formulated for the Museum a plan which 



would meet the requirements of the Department 

 of Finance of the City of New York. The Comptroller readily 

 saw the wisdom of such a change, and, with the consent of the 

 Department of Parks, permission was given to eliminate the 

 submission of receipted bills and the signatures on payrolls 



