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FEDERAL RESERVE BOARD WASHINGTON ADDRESS OFFICIAL CORRESPONDENCE TO THE FEDERAL RESERVE BOARD 25, 1925. 4735· November ~t. SUBJECT: 1926 Budget for Stltisticill and Analytical Work. Dear Sir: In continuation of the policy adopted fer t}1is ye::tr, will ;r"ou ki dly prep::tre and subrni t to the :Soard for apr-;roval, not later than D ;ce:nber 10, 1925, a budget of expenditures covering vvork in the Statist icnl and Analytical function of ycur b:;,~"lk, to be carried on durir~g the year 1926. The budget should be submitted on the attached form which corresponds with the revised functional expense report fonn E, and which provides for showing in par::tllel columns the amounts ::1ctually expended durin,:; 1925 (Dacember e stir:Jated) and the proposed tudget for the calend3..r ye,1r 1926. Will you also accompany your budget re(1uest ·with a statement showing the approximate proportion of thCJ tirr.e of the assistant Federal reserve a2:ent or aq;ents which is to be --::har~ed to each function of your departrmnt or of the ba::1k during 1??6. In c':lse an as;:;istant Federal reserve a,.,-ent is devotinf" a p,1rt of his time to gener:U activities which are not chargeable> to any of the fur1ctions under t:he supervlsion of th-e FedarJ.l res:Jrv-e E'ger:t, nor to any function of the bank 8xcert Gene:Jro;.l Overhead, kindly give a description of such gc:mc;ra1 activities. In d:otermining Wh21t r:rorortion of tlie tirr.e of assista.nt Fed-:Jci.l re:,erve ag.:mts or of emplo;yees of the agent Is department should b0 charged to Ge,1er-1l OverheJ.d or to any othar functicn of the bank, the matter sl10uld be discus3ed with tn2 op.::L1tin;:; ofr:i.cials of the bank with a vi2w to mal:ing a satisfa,~tor;v distribution of the expense. V8ry trul ;:i yccrs, J. C. Noell, A::::,oistant S3cretclry. Enclosuj:e.
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