Full text of Mimeograph Letters and Statements of the Board : Letter From E. L. Smead, Chief, Division of Bank Operations, re Reimbursable Expenses Incurred in Connection with Fiscal Agency Operations, Number R-354, Volume 49, Page 232

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232

BOARD OF GOVERNORS
OF' THE

F"EDERAL RESERVE SYSTEM
WASHINGTON
AOOREBB CF'F'ICIAL CDRREBPCNDENCE
TC THE &CARD

December 5, 1938.

Dear Sira
There is inclosed, for your information, a copy
or our reply to a letter received from a Federal Reserve
bank regarding the method of handling reimbursable expenses
for overtime incurred in connection with fiscal agency
activities.
Very truly yours,

E. L. Smead, Chief,
Division of Brulk Operations •
...

Inclosure

TO PRESIDENTS OF ALL FEDERAL RESERVE BANKS




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R-37'1'A

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December

J, 1938

Mr.
, --=:----Federal Reserve Bank of - - - - - '

Dear Mr.

-----Reference is made to your letter of November 25

regarding the method of

hondli1~

reimbursable expense

incurred for overtime in connection with fiscal agency
activities.
It seems to us that if the unit for which the
overtime was incurred can be definitely determined it
would be preferable to charge any expense arising in
this com1ection direct to such unit.
Very truly yours,

(Signed) E. L. Smead
r

E. L. Smead, Chief,
Division of Bank Operations.




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