University Financial Reports

This collection is comprised of annual reports reviewing the financial conditions of Northwestern University during the preceding year. They were prepared for submission to the Board of Trustees by a succession of university officials known sequentially as the Treasurer, Treasurer and Business Manager, Comptroller, etc.

For the years 1850-1875, these reports may be found with the Minutes of the Board of Trustees. Beginning in 1876 the reports were published separately and have been bound. As of 1975 they comprise 14 bound volumes.

In the first volume of the published series, the financial reports for the 1877-1878, 1878-1879 and 1879-1880 fiscal years are missing. During these early years the opening and closing dates of the fiscal year were changed a number of times. At various time the fiscal year ended between April 30 and September 1. Following the 1917-1918 academic year, the closing date became June 30 for several years.

Financial reports were traditionally presented to the Board of Trustees at its yearly meeting in June. Beginning in 1903 the reports were submitted at the Board's October meeting.

Commencing in 1902 a supplement was appended to the Treasurer's Reports that enumerated all donations made to the University during the year. After 1903 the reports became more consistent. Indexes were added and the Treasurer's portion of the report became very brief with the bulk being made by the Business Manager.

With the 1919-1920 report the gift record simply summarized donations rather than completely listing all donors. On September 29, 1920 the University By Laws were amended so that there were two Treasurers, each issuing a separate report, one each for Endowment Funds and General Funds. Beginning in 1930-1931 and additional report was initiated for Gift and Trust Funds, which were administered by the General Funds Treasurer. The Business Manager also submitted a report pertaining to all university investments.

The 1933-1934 report was prepared by the Business Manager and Comptroller and the indexes were discontinued. The following year's (1935-1936) report was prepared by the comptroller. The report for 1936-1937 was by the Vice President and Business Manager and the fiscal year was changed from June 30 to August 31. In 1939 a Table of Contents was added to each report. In 1946 the index was discontinued again. In 1950 a section called "Financial Highlights of the Year" was added.

In 1956 the reports' format changed again. A Table of Contents was added and the report was divided into two parts: the Vice President's Summary and the Audit Report. In 1957 an index of Statements and Funds was added which provided a name index of donors and endowments and memorial and scholarship funds. In 1960, the title of Part Two was changed to Financial Statements and Report of the Certified Public Accountants.

In 1964 the Table of Contents and Highlights were discontinued, but the index was retained. In 1977 an indexed supplement including statistical summaries, Endowment and other Trust Funds and Investments was also published.