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BOARD OF' GOVERNORS

:R-146

OF' THE

FEDERAL RESERVE SYSTEM
WASHINGTON
ADDRII:aa OP'P'ICIAL CORR!I:ai"ONDII:NGII:
TO THE aaARO

Deoamber 25, 1937
SUBJECT:

Functional Expense Reports

Dear Sir:
Under date of June 11, 1937 tho Board asked Mr, Harrison, Chairman
of the Conference of Presidents, to appoint a committee of ~:~onior Federal
Reserve bank offioial.a to review suggested changes in the functional ox"'"
ponse report, Form E~ and b. the manual of instructions governing its
preparation, submitted to tho Board in response. to its letter, B•l2o6, of
March 27, 1937, and ao~umolato¢ by tho Board's rcprosenta~ivos during tho
course of tho survoys ~do fo~ ~he purposo of reviawing tho methods of
allocation followed by the F!;:ldqra.l Rosorvo banks in preparing tho functional
oxponso reports. Mr. Htlrrisou appointed Mr .. c. E. Earhart, Ca.shior 1 Federal
Rosorvo Bank of San Francisco, Mrr'L, R. Rounds, Vico Prosidont, Fodora.l
Reserve Bank or New Yo~k, and Mr. ~ s. ~alden, Jr., First Vice President,
Federal Reserve Bank of{ Jtiohmond, ala a committee for this purpose.
The above~entidned committ~e met in Washington on November 8 and 9,
1937, and reviewed all the suggested changes in the Manual of Instructions
and in Form E, ~ following the meeting of the Committee Form E and the
Manual of Instructions gover~ing i~~ preparation wero revised, effective
January 1, 1938, in ac<Jor(\e.nce with .tho action taken by tho Committee.
There arc being torwardod to~you under separate cover
complete
sets of the Manual and \the remaining number of copies·· requested will be
Form E is boing reprinted
forwarded shortly atte,r tho ftr~t of tho year.
and the number {)r -oopie's roquoitod for 1938 will be forwarded to you as
·Soon o.s recaivGd from the printer which should bo in tho oourse of the next
few :4lays.
Vory truly yours,

QhesterMorrill,
Secretary •


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