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14
3.We recommend that Mr. Charles Edward stowell. the Manager of
the Southwark Branch of the London and County bank, be the
Treasurer to the Board instead of Mr. William McKewan, the
General Manager of the Hank; and that in lieu of the existing
bond, the London and County Banking Company, Limited, be
asked to become surety for the Treasurer, and for this purpose to
invest the sum of £5,000 in consols in the joint names of the
Hoard and the Hunk.
4 We recommend that all cheques be signed by the Chairman and two
other Members of the Finance Committor and countersigned by
the Clerk, and that the names of such authorised signatories bo
sent annually to the Bankers of the Board.
5. We recommend that the system which was originally adopted by the
Board of having three keys to the common seal be resumed, two
of such keys to be held by deputed Members of the Board and one
by the Clerk.
6. We find an unsatisfactory practice exists as to the intention of the
moneys paid by builders and others for private drainage purposes,
and also as to the custody of the sums handed to the Clerk from
time to time on account of Labour and Wages, and we recommend
that all moneys received be promptly paid into the Bank; and
further, that cheques in sums of—say £lOO at a time, oh may bo
necessary, be paid into a separate account to be called the "Petty
Cash Account," which shall be opened at the Bank in the name
of the Clerk, from which shall be Paid the weekly wages and
labour and petty disbursements.
7. We recommend that security be given by the Officers entrusted with
the custody or control of money, as required by Section 65 of the
Metropolis Local Management Act.
8. We recommend that, for the future, the estimates for Paving,
Sewerage Works, &c., be prepared annually in the month of
January, in order that the financial estimates based thereon may
be presented earlier, and precepts issued contemporaneously with
the issue of precepts for Consolidated and Education Rates. No
money is at present required for General Purposes and Sewers
Expenses, but we recommend that a precept for such sums as
may be required for tho present financial year, ending 25th March
next, be issued when wo next have to make a demand for School
Board purposes.
9. We recommend that the Auditors be requested to check the accounts
in greater detail than it appears to us to have been customary.
10. We suggest that the Finance Committee to be appointed next month
for the ensuing year be empowered to make the necessary arrangements
for carrying out the recommendations of this Report.
*** think it due to our Officials to add that not any of the
recommendations are made because of any distrust entertained of
them. We believe that the Board is served by men of exceptional
integrity, and that it is owing to this fact that the looseness of the
Board's arrangements has not been productive of much greater losses
than it has suffered."