SR_DPI_DNE_Special_Subject_File_B5F1_Durham_NC_College_Negroes

REPORT OF AUDIT OF NORTH CAROLINA COLLEGE FOR NEGROES DURHAM, NORTH CAROLINA JULY 1 19 2x4 TO JUNE 30 1925

J. J. BERNARD CERTIFIED PUBLIC ACCOUNTANT MEMBER STATE BOARD OF ACCOUNTANCY RALEIGH, N. C.

[Logo] J J Bernard Certified Public Accountant Raleigh, N. C.

Raleigh, N.C. December 5th. 1925 Hon. Baxtor Durham, State Auditor Raleigh, N.C.

My Dear Sir:- In accordance with your insturction I have audited the books and accounts of the North Carolina College for Negroes at Durham, N.C. for a period beginning July 1st. 1924 and ended June 30th 1925 and resoecfully submit the following report as a result of said audit.

We were seriously handicapped in our audit owing to the fact that all the vouchers during this period were classified in accordance with a different Budget system than the one prescribed by your Office, necessitating the re-classificatio of every voucher in order to conform to the States System. : And further owing to the fact that a fire occured at the Institution the latter part of January 1925, which destroyed all the record, necessitating the securing of duplicatet vouchers and reports from the State Board of Education.

The following Exhibits and Schedules show the true condition of the Institution as of July 1st 1925

Exhibit "A" - Assets, Liabilities and New Worth July 1st. 1925 Exhibit "B" - Receipts and Disbursements of the Maintenace Fund for Fiscal Year Exhibit "C" - Receipts and Disbursements of the Building Fund for Fiscal Year Schedule 1 - Students Accounts Receivable July 1st. 1925 Schedule 2 - Floating Debt July 1st. 1925 Schedule 3 - Per Capita Cost during the Fiscal Year. Exhibit "13"

The Note for 6,431.84 as shown in the Liabilities was borrowed for the construction of Water Mains to tap onto the City's Water works works and it is expected that the city will take over same.

During our examination every courtesy was extended us and every facility offered to secure the information desired.

Respecfully submitted J J Bernard [Signature] Ceritified Public Accountant

NORTH CAROLINA COLLEGE FOR NEGROES DURHAM, NORTH CAROLINA EXHIBIT "A" BALANCE SHEET JULY 1st, 1925 ASSETS AND LIABILITIES

ASSETS

LAND: 25 acres land @ $4,000.00 60,000.00

BUILDINGS: BOYS BUILDING, brick veneer 15,000.00 AUDITORIUM, frame building 7,000.00 GIRLS DORMITORY, frame building 24 rooms & laundry 10,000.00 TEACHERS HOME, 10 rooms 6,000.00 GLASS ROOM BUILDING, 14 class rooms recently erected costing 17,000.00 DINING ROOM, recently erected 35,000.00 Total buildings 90,000.00

EQUIPMENT 10,000.00

INVENTORY OF PROVISIONS ON HAND 334.00

STUDENTS ACCOUNTS RECEIVABLE, Schedule 1 648.29

CASH ON HAND: Maintenance Fund 93.20 Building Fund 75.48 Total Cash 168.68

TOTAL ASSETS 161,350.97

LIABILITIES

FLOATING DEBT 3,417.62

BILLS PAYABLE - Note for Water Main Construction 6,431.84

TOTAL LIABILITIES 9,849.46

NET WORTH JULY 1 1925 151,501.51

NORTH CAROLINA COLLEGE FOR NEGROES

JULY 1, 1924 TO JUNE 30th. 1925

EXHIBIT "B" SHEET 1

RECEIPTS AND DISBURSEMNETS

MAINTENANCE FUND.

RECEIPTS. State Appropriation 25,000.00 Counties for Summer School 2,575.00 Board 14,775.19 Room Rent 3,010.00 Registration 3,166.50 Music 498.00 Tuition 1,008.00 Lyceum Fee 304.10 Laboratory Fee 189.24 Lecture Fee 1.50 Sale of Books and Stationary 2,120.71 Sale of Diplomas 123.00 Telephone Tolls 32.65 Breakage 2.90 Refunds 302.74 Sale of Bull 20.00 Miscellaneous 103.00 Total Receipts 53,232.53 Balance July 1st. 1924 1,941.48 Total to Account for 55,174.01

DISBURSEMENTS ADMINISTRATION 1101 Executive Salaries 2,499.96 1103 Clerical Salaries 2,100.00 1201 Office Supplies 797.11 1301 Postage 96.00 1302 Telephone & Telegraph 270.85 1203 Express, Freight & Drayage 142.07 1402 Railroad & Other fares 100.00 1502 Printing - Reports, catalogues &c 320.94 1504 Multigraphing & Mimeographing 6.65 1501 Printing - Stationary &c 603.06 1508 Publishing notices & Advertising 162.66 2101 Interest on Temporary loans 444.11 2102 Insurance 91.77 Total 7,635.18

Amount carried forward $ 7,635.18 $ 55,174.01