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<br />l <br /> <br />mem, authori~atlOn of payment as evidcnc.:d in Minutes of the Meet- <br />ings of the Representatives or other supporting evidencC'. <br />As authorized by the Representatives, the expenditure of reading <br />the Holly Drain Gauge from April 21, 1950, to October 31, 1950, cost <br />$1.50 a day or a total of $291.00. <br />Secrctary-treasurer's bond in the amount of $10,000.00 is carried <br />wiIh the National Surety Corporation. The related expense of $100.00 <br />represents the premium costs for two years. <br />As reflected on Schedule !, cash in bank at October 31, 1950, <br />amounted to $1,386.27. This amount was reconciled to the amount <br />directly confirmed by that depository. <br />No office equipment or other capital outlay was acquir\?d during <br />the penod under review. <br />The financial position of the Administration at October 31, 1950, <br />is expressed in the following schedule: <br /> <br />ARK.'\NS.'\S RIVER COMPACT ADMI~ISTRATION <br />L:lmar, Colorado <br /> <br />Balance Sheet <br />October 31, 1950 <br /> <br />Assets <br />Cash 111 Plrst National B:mk, Lamar, Colorado $1.386.27 <br />Capital <br />Unexpended Fund Balance ......... .....................m..........m........m$I,386.27 <br /> <br />Special Comments <br />Referring to the requirements rdating to the submission of a bud- <br />get, Article VII paragraph 3 of the By-Laws states, "In each even Illllll- <br />ben~d year the AdminIstration shall adopt and transmit to the Governor <br />of each State its budget covering anticipated expenses for the forthcoming <br />biennium and the ammJht thereof payable by each State:' <br />A preliminary budget to cover initial expenses of organiz.ing the <br />Administration was submitted by the Secretary at the meeting held in <br />Lamar, Colorado, on November 14, 1949, and consisted of: <br />Amount <br />OHice supplies m...........................................$ 200.00 <br />Telephone and telegraph for yeaL.............. 500.00 <br />Ollice equipment. ........................................ 125.00 <br />Printed annual reports.............................m.. 300.00 <br />Auditing expense m........ .................mmm.... 150.00 <br />Secretary-treasurer bond m." 50.00 <br />Publication of official notices____ n_mn_____ 150.00 <br /> <br />Total... . .......... .............. ...$1,475.00' <br />*This budget was tabled temporarily for further study and pos, <br />sible expansion and the subsequent mInutes of the Administration'seMeetings do not reflect its adoption. At the time the preliminary budget <br /> <br />Ii <br />