Annual Report

seen that on February 1, 1882, $71,010.25 stood to its credit. This amount is on deposit in Bank bearing interest and the rate of 2.75 per cent. per annum. As the outstanding school bonds are largely held in this city, and available for purchase by the Board, the committee would recommend that so much of the above balance as can be safely applied thereto, should be at once employed in purchasing and retiring the obligations of the Board. The Sinking Fund is entitled to its proportion of the interests on deposits in Bank, as also to a part of the receipts from back taxes of 1876. With reference to the former, the failure to credit the amount is evidently an oversight which should be rectified. The difficulty and expense of ascertaining the correct amount of back taxes of 1876, to be credited to this fund, are, no doubt, the causes of the credit not having been given. The correct amount should be ascertained and credited as soon as practicable.

With these exceptions, the accounts on the books correctly represent the fund.

GENERAL REMARKS.

During the early portion of the period under investigation, the committee found the system of business loose and inadequate to an extent which fully justified the criticisms contained in the report of the former examining committee, which was submitted to the board February 17, 1880, and contained many well-timed and intelligent suggestions for improvement in the management of the fund. These recommendations were received by the Board in the proper spirit, and acted upon with a fidelity to the best interests of the Public Schools, that merits commendation.

While it cannot be questioned that a good system in the business management has been established, still its effectiveness and permanency are not assured. The admirable rules and official checks adopted are entirely

contingent in observance upon the convenience.or caprice of the Board or its committees; and although there may be little danger of future Boards publicly eliminating from the records manifestly wise provisions essential to honest and proper methods, yet the same result may be reached by disregarding them in practice. This has occurred in the past and it is not unreasonable to anticipate it in the future.

A system once adopted by the Board should be rigidly enforced, as well with reference to the Board and its committees as with the officers. In considering the best means of accomplishing the desired results, as also of correcting the defects still existing and noted in this report, the committee is drawn to an unqualified indorsement of the recommendation of the former committee, looking to the establishment of an "Auditor for the St. Louis Public Schools."

Such an executive officer elected by the people at large, under heavy bond, possessing suitable powers without interfering with those of the Board, and charged with the duties as suggested, in detail, by the former committee, would supply what in the opinion of this committee is necessary to render permanent and effective any good system of management.

It is unnecessary to go further into details, as the subject has been so clearly and thoroughly presented by the former committee.

ANNUAL EXAMINATIONS.

The committee would recommend that similar examinations be made annually, and that the committee be appointed just before the close of the fiscal year, in order to witness the closing of the books and accounts and settlements of officers, and thus secure an earlier report upon the matters under investigation.

APPENDIX.

In this form is presented the statement of receipts

and expenditures during the period under examination, and the condition of the several funds at its close, as taken from the books of the secretary.

IN CONCLUSION,

The committee desires to acknowledge and return thanks for cheerful assistance and uniform courtesy extended by all the officers and members of the Board with whom it has been brought in contact during the progress of the investigation.

Respectfully submitted,

JOHN H. LIGHTNER, Chairman.
E. L. ADREON,

WM. BOUTON,

Examining Committee.

APPENDIX.

RECEIPTS AND EXPENITURES, AS FROM THE BOOKS OF THE SECRETARY.

RECEIPTS

From all Sources from August 1, 1879, to July (both inclu- (both inclu

August 1, '79, August 1, '80,
to July 31, '80 to July 31, '81

Totals.