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607 FEDERAL RESERVE B O A R D WASHINGTON ADDRESS OFFICIALCORRESPONDENCETO THEFEDERALRESERVEBOARD A p r il 5, 1935 B-1072 SUBJECT: F u n ctio n a l Expense R ep orts. Dear S i r : There i s in c lo se d , f o r your in form ation , a copy o f the "Manual o f In s t r u c t io n s Governing the P re p a ra tio n o f F u n ctio n a l Expense Reports (Form E ) " , which has been re v ise d , e ffe c t iv e a s of January 1, 1935. I*1 accordance w ith the request contained in your telegram o f March 12, 19 3 5>there are b e in g forwarded to you, under separate cover, co p ie s o f the in s t r u c t io n s . The in s t r u c t io n s contained in the te n ta tiv e Manual forwarded to you w ith our l e t t e r of November 10, 1034 (B-1030) were reviewed and commented on by each Reserve bank, and the e n tire manual, togeth er w ith the su g g e stio n s made by the Reserve banks was reviewed a t a committee meeting, h e ld i n Cleveland on February 18 and 19, 1935* a t which the fo llo w in g were p resen t: Members o f Committee M. E. Lysen, Manager, A ccounting Department, F ederal Reserve Bank o f M in n e ap o lis H. N. M angels, A s s is t a n t Cash ier, Federal Reserve Bank o f San F ra n c isc o L. S. M yrick, T ech n ical A s s is t a n t , D iv is i o n o f Bank O perations, Federal Reserve Board G. R. R oss, Manager, A cco unting Department, F ederal Reserve Bank of C levelan d (S e c re ta r y ) 608 - 2 - W. H. Snyder, Controller, Federal Reserve Bank of Chicago J. S. Walden, Jr,, Controller, Federal Reserve Bank of Richmond (Chairman) Others R. B. Hays, Assistant Cashier, Federal Reserve Bank of Cleveland E. L. Smead, Chief, Division of Bank Operations, Federal Reserve Board. A sub-committee consisting of Messrs. Lysen, Mangels and tyyrick was designated to revise the instructions in accordance with the recom mendations of the committee and these changes, together with others later agreed upon, have been incorporated in the instructions being sent to you at this time. Mr. Walden, who was Chairman of the Cleveland meeting, kindly consented to meet with the sub-committee after it had tentatively made the necessary revisions and he, and the other members of the full committee, have reviewed the present revised edition of the Manual. The r e v is e d in s t r u c t io n s are dated January 1, 193 5> as i t i s thought th at the work in v o lv e d in p re p a rin g the form E re p o rt f o r the f i r s t h a lf o f 1935 on the new b a s is w i l l not be m a t e r ia lly d if f e r e n t than would be the work in v o lv e d in p re p a rin g the re p o rt on the o ld b a s is and in a d d it io n su b m ittin g the s p e c ia l re p o rt c o v e rin g F is c a l Agency, C u sto d ia n sh ip , and D e p o sita ry expenses. The instructions, as revised, call for a more accurate distri bution of costs, and it is suggested that special care be exercised by those engaged in the preparation of the reports to see that salaries B-1072 609 - 3 - and other c o s t s are c o r r e c tly a llo c a te d to the a p p ro p riate expense u n it s and fu n c tio n s. Form E i s b e in g re p rin te d and w i l l be d is t r ib u t e d as soon as re ceived from the p r in t e r . Should any a d d it io n a l co p ie s o f the new manual be re q u ire d they w i l l be sent upon request. Very t r u ly yours, E. L, Smead, C h ie f, D iv is io n o^ Bank O perations. In c lo su re B-1072 TO ALL GOVERNORS
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