120 Report of the Treasurer 



General Endowment and the Sage Fund, and purchased bonds. 

 The total par value of securities in the Permanent Endowment 

 on December 31, 1920, was $9,601,750; the book value (orig- 

 inal cash or securities by bequest or gift) was $8,565,667.73, 

 and the uninvested cash, $2,202.57. 



For the first time since the Museum received appropriations 

 from the City of New York, there was included in the City 

 Budget, for 1920, a schedule of numbers, posi- 

 City tions and salaries of all employees paid in whole 



Account" 1 * or * n P art ky the City, and during the year pay- 

 ments were made on this basis. A schedule was 

 also adopted by the City for supplies and expenses. The 

 original budget appropriation was $253,906 for salaries, and 

 $41,234 for supplies and expenses, a total of $295,140. In 

 August, the City granted a general increase of wages to all 

 City employees, including employees of the Museum. To make 

 this new schedule effective, the City provided an additional 

 appropriation for the Museum of $17,515.37, making the grand 

 total of the maintenance appropriation for the year $312,655.37. 

 By reason of changes in force, there was a loss of $1,672.24 

 which reverted to the City. The net sum expended by the City 

 for maintenance, therefore, was $310,983.13. 



The General Account is for the receipt of unrestricted funds, 

 which the Trustees may apply for general purposes. Any 



deficit arising from insufficient funds in this or 

 Trustees' the City Maintenance Account must be met 



Account through the General Account. While the capital 



of the Sage Fund is kept intact as a special be- 

 quest, its income is included in this account. The sources of 

 receipts are varied, as is shown by the principal items for 1920. 



Income from the General Account $61,956.77 



Income from the Sage Fund (including $57,540.77 

 accrued interest from the time of Mrs. Russell 



Sage's death) *.. 82,804.39 



Membership Fees (Sustaining, Annual and Associ- 

 ate) 36,326.00 



Sales and Exchanges 9,496.26 



Personal Contributions of Trustees 26,350.00 



Miscellaneous 5,21 1.08 



