Fonds UKC.FIN - University of King's College Financial Records Collection

With few exceptions, the records were unorganized. They were arranged in series during processing for this project by Assistant Archivist and Archives Assistants. The fonds was arranged into series by Archives staff in 2008, following as closely as possible original order established by the office( s) of creation, if any could be determined.
Original order retained when it could be discerned.

Records were removed from the Board of Governors fonds (UKC.A, which had been arranged by John Weeren in 1993) to supplement series established in the financial records collection. Records were removed from the financial records collection and added to the Board of Governors fonds when it was clear that those records were more closely related to the Board.

The financial records collection is organized into the following series:

UKC.FIN.1: Financial statements from University Calendars and audited financial statements
UKC.FIN.2: Financial officers' records
UKC.FIN.3: Budgets
UKC.FIN.4: Accounting records
UKC.FIN.5: Banking records
UKC.FIN.6: Campaigns, Endowments, Funds and Trusts records
UKC.FIN.7: Gifts and bequests records
UKC.FIN.8: Financial agreements records
UKC.FIN.9: Assets, investments and loans records
UKC.FIN.10: Committee records
UKC.FIN.11: Employment records

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Financial information was published in the University Calendar from 1886 to 1905; these pages have been photocopied and placed in files in the UKC.FIN.1 series.

Access to files containing personal or confidential information is restricted.

File list available.

Further accruals expected, and accruals have occurred beyond the scope of the finding aid (post-2008).

The records in the collection were created by University of King's College officers and staff members who had responsibilities for financial functions. They included the Treasurer of the Board of Governors, Bursar, Steward, unidentified employees. There are also audited financial statements prepared by external professional accounting firms. The finances of the University have been handled by various positions through the decades. At the time the University was founded in Windsor, Nova Scotia, in 1789, the Board of Governors handled all financial transactions. Today, the Bursar's office handles the financial affairs of the University. The records in the collection reflect the financial activities and status of the University from its founding days to the mid-20th century. The records 1803-2008, with the majority dating from the 1930s-1950s (cash books).

In the early decades of the University, the Board of Governors, through the Treasurer, processed all financial transactions. The Board made all the financial decisions, and the Treasurer paid accounts and kept receipts. He had access to some monies in order to do so, but did not have access to all accounts. Other Board members were also authorized to make investments and pay accounts. Major financial decisions were investigated by special committees and then decided on by the entire Board.
Matters continued thus until the 1850s; In 1854, the College lost its provincial grant of £400 per annum. The Finance Committee and the position of Bursar were instituted. The Finance Committee made extensive financial reports and recommendations to the Board. It also made investments and audited accounts of the Treasurer and the Bursar on a regular basis. The Bursar was originally a Fellow of the College, but not necessarily a member of the Board.

In 1892, in response to the near closure of the College due to lack of funds, a new organizational scheme was attempted. The Board created a Committee for Domestic Affairs. 2 One member of the Committee held the position of Manager. The Manager took control of the "domestic economy" of the College, and was in charge of the farm, the purchase of food and fuel, salaries and wages for staff, heating, washing and other general household concerns. At this time, a Special Finance Committee was also appointed to examine and report on all finances of the College, and was given the power to employ and pay professionals to aid them in their work.

More major administrative changes were made in 1894. At a special meeting with the Board, the Alumni Association resolved that a new Board of Governors be formed with 24 additional members, and that a College Council, or Executive Committee, and a Finance Committee be formed. In 1895, the Executive Committee was given control of all College funds and their investment, as well as responsibility for all financial affairs. It was around this time that the Treasurer began to submit annual printed reports of the funds and estimates for the upcoming year.

The financial organization of the College continued in this way, with minor changes, throughout the following decades. The most recent alteration was the reorganization of the Bursar's office and the resulting diminution of the role of the Treasurer in the latter part of the 20th century.

More information on the history of financial matters at the University of King's College can be found in the finding aid linked above.

2022-09-03

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