Office of the Treasurer Records, 1822-1997
| Oberlin College Archives
Administrative/Biographical History
The first financial officer of Oberlin College was Eliphalet Redington, who was appointed Treasurer in 1833. In those early years, the Treasurer did double duty, also serving as Secretary (or "Corresponding Secretary") to the Board of Trustees. The Secretary/Treasurer carried out all of the Board's correspondence, kept records of donations, fees collected, expenditures, and loans and scholarships, and managed the College's property and investments. Essentially, all business matters for the College were handled by the Secretary/Treasurer. From the beginning until the present day, financial matters of the College have been governed under guidelines established by the Board of Trustees and/or a trustee committee appointed to oversee investments.
In 1899, the responsibilities of the Secretary (including Secretary to the Board of Trustees, correspondence, record keeping, publications, and public relations) were separated from the financial responsibilities of the Treasurer, resulting in two separate positions. The 1904 Constitution and By-Laws provides the first detailed description of the Treasurer's duties as a separate office. In matters of finance, the Treasurer had responsibility for "funds, securities, investments, muniments of title, indicia of ownership, assets, property, choses in action, accounts and items of credit and things receivable by or belonging to the College." He maintained account books of assets and liabilities, receipts and expenditures, financial and property transactions, and trust funds, and prepared the annual balance sheet and financial report for the Board of Trustees. He also estimated the upcoming year's receipts in order to plan the budget, and determined each department's share in the general expenses of the institution.
On the recommendation of the Investment Committee, the Board voted in 1915 to assign management of investments to the Cleveland Trust Company or any legally constituted trust company in the state. This arrangement was initiated in the final year before James R. Severance's retirement after thirteen years as Treasurer and continued until 1933. In 1933, the position of Investment Executive (called Investment Officer in some years) was established to manage the College's investments and endowment, apparently in response to the economic depression and instability of the financial market. The Treasurer retained responsibility for all other financial and accounting matters. As did the Treasurer, the Investment Executive reported directly to the President.
The next significant step in the evolution of the financial management of the College occurred in 1939-40. On July 10, 1939, the Executive Committee appointed a Special Committee on the Organization of the Financial Offices of the College. The report essentially recommended adherence to the status quo, with the offices of the Treasurer, Investment Executive, and Superintendent of Buildings and Grounds (responsible for plant maintenance and operations) continuing as then constituted, each reporting directly to the president. Two long-range recommendations, however, were eventually adopted: consolidation of the responsibilities of the Treasurer and Investment Executive and establishment of a high-level executive office to oversee all financial operations and reduce the number of people reporting to the president.
In 1942, the Board of Trustees voted to unify the offices of Treasurer and Investment Executive. This was accomplished by enlarging the duties of the Treasurer to include managing investments. The Investment Executive ceased reporting to the president and began serving as a member of the Treasurer's staff. The Treasurer was replaced as secretary of the Investment Committee by the Investment Executive.
In 1955, the position of Business Manager was created to oversee all financial operations and to supervise and coordinate the administration of all non-academic departments. Lewis R. Tower, who had been working for the College as a consultant, was hired as the first and only person to bear the title of Business Manager. When he retired, he was succeeded by Dayton Livingston. Between 1971 and 1976, the position went through several names changes, culminating in the new title of Vice President for Business and Finance. Designated the chief financial officer of the institution, the Business Manager or Vice President reported directly to the president. The Treasurer, Investment Executive (no longer under the Treasurer), manager of residences and dining halls, purchases and stores, superintendent of buildings and grounds, data processing (later the Computing Center), and the Controller each reported to the Business Manager or Vice President.
The first Board of Managers of Allen Memorial Hospital had been appointed by the Oberlin College Board of Trustees in 1925, with the Treasurer of the College serving ex-officio as treasurer of the Board of Managers. Allen Memorial Hospital was completed that same year with funds donated to Oberlin College by Elizabeth Severance Allen Prentiss. From 1925 to 1955, the college operated the hospital primarily to serve students, faculty, and staff, and secondarily to serve members of the community and surrounding areas. In 1955, Oberlin College transferred ownership of Allen Memorial Hospital to the City of Oberlin and in 1959, Articles of Incorporation were adopted establishing, among other things, the make-up of the Board of Trustees. Any citizen of the City of Oberlin or the Joint Township Hospital District was eligible to apply, in accordance with regulations adopted by the first Board. The Code of Regulations subsequently adopted stated that the President of Oberlin College would serve ex-officio on the Board, but not the Treasurer or Business Manager. Both Lewis Tower and Dayton Livingston, however, served on the Board through the regular selection process.
The Controller's position was created in 1958 and caused some confusion as to the distinction between the Controller and the Treasurer. A September 2, 1958, memorandum from President William E. Stevenson to all department and office heads detailed the functions of the two offices as follows: the Controller had responsibility for general accounting procedures, including paying bills, reviewing proposed budgetary changes and transfers, preparing and distributing periodic departmental operating statements, and reconciling accounts with departmental records. The Treasurer was responsible for collecting tuition and fees, administering student loans, maintaining student account records, supervising finances for student organizations, and receiving gifts and donations. The 1960 By-laws indicate that the Treasurer was also responsible for "custody of all funds, securities, investments, and evidences of title to the assets and properties of the College," but responsibility for day-to-day management of investments and the endowment remained in the hands of the Investment Executive.
A major administrative study was completed by the Trustee Committee on Administrative Organization in 1961 and is informally known as the Gladieux Report. On November 10-11, 1961, the Board approved a number of changes, including three new positions to report to the Business Manager. These included a Personnel Officer and a Director of Administrative Services to oversee purchasing, data processing, the college photographer, and graphic services. A supervisory position for graphic services was also created. The specific duties of the Treasurer's Office, the Controller, and the Investment Executive were not impacted by the Gladieux Report. In 1963, however, the position of Investment Executive was eliminated; the duties of that position devolved on the Business Manager and remained largely in his hands until 1988.
When Roger Cooper retired as Treasurer in 1984, the responsibilities of the office were again redefined to encompass and focus upon supervising the endowment. The former duties of the Treasurer in regards to receiving tuition, fees, gifts and donations, overseeing student accounts and loans, and supervising the finances of student organizations were transferred to the Bursar. The Treasurer's position went unfilled for five years, however, and the Vice President for Business and Finance continued to supervise the endowment.
When Dayton Livingston retired as Vice President in 1988, that position was abolished. In its place, a Vice President for Operations was established to supervise grounds and land planning, the Oberlin College Inn, the physical plant, purchasing and auxiliary services, security, and personnel. The position of Provost had been created in 1960 as the chief administrator of academic programs, but by the early 1970's, the Provost had become the chief budgetary and planning officer of the College and in that capacity worked closely with the Vice President for Business and Finance and the Controller. In the 1988 restructuring, the Provost remained the chief budgetary and planning officer, adding the Office of the Controller. The Computing Center (formerly data processing) previously reported to him.
In 1989, the position of Treasurer was once again redefined as a senior executive officer reporting to the president and responsible for providing staff support to the Trustee Investment Committee, evaluating and initiating investment policy, monitoring the performances of investment managers, supervising the investment of unitrusts and separately invested funds, maintaining custodian and commercial bank relationships, preparing budget projections of endowment income and recommending appropriate endowment payout policies, monitoring the activities of the Capital Ventures Office (now separate from the Development Office) in relation to policy guidelines established by the Investment Committee, negotiating lines of credit, and preparing materials and reports on these operations for the Trustee Investment Committee and the College administration.
FINANCIAL OFFICERS OF OBERLIN COLLEGE, 1899-1995
Secretary/Treasurer (1833-1899)
1833-1835 Eliphalet Redington
1835-1841 Levi Burnell
1841-1864 Hamilton Hill
1864-1865 George N. Allen
1865-1875 George Kinney
1875-1887 James B. T. Marsh
1887-1893 Giles W. Shurtleff
1893-1899 James R. Severance
Treasurer (1899-1995)
1899-1916 James R. Severance
1916-1934 Hiram Thurston
1934-1941 H. Wade Cargill
1941-1958 William P. Davis
1958-1970 Karl Aughenbaugh
1970-1971 Roger S. Cooper (Acting)
1971-1984 Roger S. Cooper
1984-1988 vacant
1989-1995 Charles Tharp
1995- vacant
Investment Executive/Officer (1937-1963)
1937-1942 Clayton K. Fauver
1942-1954 Vincent Hart
1954-1955 Vacant
1955-1963 Robert Buss
Controller (1958- )
1958-1975 Arthur L. Cotton
1975-1993 Richard B. Comstock
1994- Ronald Watts
Provost (1960-1995)
1960-1964 Thurston E. Manning
1965-1969 John W. Kneller
1969-1971 Ellsworth Carlson (Acting)
1971-1975 Ellsworth Carlson
1975-1982 James L. Powell
1982-1984 Sam Carrier (Acting)
1984-1995 Sam Carrier
Business Manager (1955-1971)
1955-1971 Lewis R. Tower
Vice President for Business and Finance (1971-1988)
1971-1988 Dayton Livingston
Vice President for Finance (1995- )
1995- Andrew B. Evans
Forms of Material (links to similar genres) Administrative InformationRecords of the Board of Trustees (RG 1)
Records of the Office of the Vice President for Business and Finance (RG 6)
Records of the Secretary's Office (RG 5)
Records of the Office of the Vice President for Finance (RG 54)
Records of the Office of the Vice President for Operations (RG 14)
Records of the City of Oberlin (RG 31/1/5)
The records of the Treasurer's Office date from 1822 to 1997. They include incoming and outgoing correspondence, bills and receipts, records of student manual labor and teacher pay, student account and scholarship records, files and ledgers documenting gifts and bequests, and financial statements of student organizations. Topics covered in these records include the establishment, organization, and funding of Oberlin College, biographical and financial information on individual students, antislavery agitation, aid to blacks, education of blacks and women, temperance, and evangelical religious activities. Portions of this record group have been microfilmed and indexed. The records were not interfiled when received, so the two subgroups generally reflect the individual accessions which make up the collection:
Subgroup I: Administrative Records, 1832-1965
7/00/1 -- Associated Organizations of Oberlin College, 1921-50
7/1/1 -- Records of Manual and Domestic Labor and Teacher Pay, 1834-69
7/1/2 -- Bookkeeping Records (Ledgers), 1833-1946
7/1/3 -- "Miscellaneous Archives," 1832-67
7/1/4 -- Miscellaneous Records, 1833-1938
7/1/5 -- Letters Received by Oberlin College, 1822-1907
7/1/6 -- Other Administrative Files, 1834-1965
Subgroup II: Administrative Records, 1976-97
7/2/1 -- Office Files, 1976-94
7/2/2 -- Reports for the Investment Committee, 1994-97
SERIES DESCRIPTIONS
Subgroup I: Administrative Files, 1832-1965
This series consists of records received through 1965. It is arranged into six series.
Series 7/00/1: Associated Organizations of Oberlin College, 1921-50 (0.4 l.f.)
Annual publication listing the financial statements of all student organizations and "houses" (dormitories). Lists income and expenditures and provides the name of the student responsible for maintaining and reporting the finances of each organization. Arranged chronologically (30 volumes).
Series 7/1/1: Records of Manual and Domestic Labor and Teacher Pay, 1834-69 (1.2 l.f.)
Receipts for labor performed by students indicating name of student, type of work, rate of pay or number of hours, total pay, and name of person for whom work was performed, 1834-68. Receipts for teaching give name, number of hours, hourly rate, and total, 1837-69. Arranged chronologically.
Series 7/1/2: Bookkeeping Records (Ledgers), 1833-1946 (25 l.f.) (223 vols.)
This series contains among the earliest of the college's financial records. Included are several varieties of account books created and maintained by the treasurer and his office clerks and bookkeepers. They record the receipt and disbursement of Oberlin College funds in the form of donations, student fees, scholarships, subscriptions both general and specialized, loans, interest received, and property assets. The treasurer consulted these account books in the preparation of his annual report to the President. As a whole, they possess not only evidential value but also informational value, showing the development of bookkeeping and accounting practices.
The series is arranged into nine subseries by type of record book: 1. General Ledgers; 2. Cash Journals; 3. Treasurer's Journals; 4. Cashbooks; 5. Daybooks; 6. Student Fee Registers;7. Subscription and Donation Registers; 8. Scholarship Registers; and 9. Special Ledgers. Subseries 6 through 9 include registers, cash books, and subscription and scholarship lists which were transferred from series 7/1/4, Miscellaneous Records. In the original box listing, these items were called "Miscellaneous cash books and ledgers".
Subseries 1. General Ledgers, 1834-1929 (18 vols.)
The general ledgers contain debits and credits for individual accounts and named funds. Figures have been transferred or "posted" to the ledger from cashbooks, cash journals, and day books, in which entries were made on a daily basis. When a transaction is posted, it is "paged" or cross-referenced to the general ledger page, and the page number of the cash or daybook added to the ledger. Thus, a system of cross-reference links the ledgers of Subseries 1 with the journals, cashbooks, and day books of Subseries 2 through 5. The general ledgers are chronologically arranged in a complete run, from 1834 to 1929. All but one are indexed by name or subject. (See Office of the Secretary, RG 5, for microfilm of general ledgers from 1937-1954.
Subseries 2. Cash Journals, 1833-37, 1839-45, 1847-53, 1856-70, 1872-71, 1894-97 (23 vols.)
In format and function, the cash journals resemble the general ledgers. Cash journals are usually ruled in six columns and they analyze balances (unlike day books); however, as they are not intended as the final record of transactions, they are not self-indexed. Entries are paged to the general ledgers. The dating system, where it is consecutive, follows a daily rather than yearly sequence. Cash journals are chronologically arranged.
Subseries 3. Treasurer's Journals, 1843, 1853-1902 (11 vols.)
Includes a series of cash journals entitled "Treasurer's Journals". Journals show transactions relating to various named funds, interest on investments, and payments received. Overlapping volumes contain similar entries and nearly identical balance figures. The dating system follows a daily rather than yearly sequence. Arranged chronologically.
Subseries 4. Cash Books, 1834-40, 1847-76, 1902-20 (15 vols.)
Cash books contain a daily record of receipts and disbursements, with receipts generally entered on the left-hand page and disbursements on the right-hand page. There are departures from this format among the volumes here. Single volumes may span from two to nine years. Cash books are chronologically arranged.
Subseries 5. Day Books, 1836-39, 1850-51, 1870-72, 1891-93, 1897-99, 1902 (11 vols.)
Like cash books and cash journals, day books (or blotters) constitute a diary accounting of transactions subsequently entered into ledgers. In the day book, transactions are not analyzed in terms of debits and credits. Here, many day books are ruled in journal format but function as day books. Day books are chronologically arranged.
Subseries 6. Student Fee Registers, 1834-95, 1911-22, 1931-46, n.d. (45 vols.)
Includes registers listing student fee payments for spring, summer, and fall terms, organized under "Oberlin College Registers" and "Special Fee Registers". Oberlin College Registers include two consecutive runs of registers: 1834-95 and 1911-20. Two systems of entry are employed. For volumes 1834-71, payment is recorded by student name, alphabetically. From 1871 on, payment is recorded by date. Registers are chronologically arranged.
Subseries 7. Subscription and Donation Registers, 1835-46, 1859-89, 1901, n.d. (43 vols.)
Includes various registers and record books which record donations, funds, and subscriptions received. There is no uniformity of format in these volumes. Of note are two volumes (1835-46) recording donations to the fledging Oberlin Collegiate Institute. Registers are arranged alphabetically by subject.
Subseries 8. Scholarship Registers, 1845-93 (24 vols.)
Contains registers of scholarships, including one which documents the first sale of scholarships, authorized by the Board of Trustees in 1851 to raise an endowment. Registers also document the subsequent repurchase of scholarship certificates by the college after 1874. Registers are chronologically arranged.
Subseries 9. Special Accounts and Ledgers, 1835-1902 (32 vols.)
Miscellaneous ledgers chronologically arranged. The ledger titled "Trial Balances" is paged to the General Ledgers for the same period in Subseries 1. One volume, untitled, is cross-referenced to subseries 7, as it contains entries relating to the Dascomb and Morgan Annuity Fund and the Finney and Morgan Professorship. Other ledgers record bills payable and receivable, loans, student activity fee receipts and distribution, and accounts for the year 1841, bound with student applications for the same period.
Series 7/1/3: “Miscellaneous Archives,” 1832-1867 (11.5 l.f.)
Consists primarily of bills, promissory notes, and receipts for payment of bills and for donations. Also includes minutes of meetings of the Oberlin Society, the Board of Trustees, and the Oberlin Bible Society, and a great deal of miscellany, such as a petition to the Board of Trustees to meet in Oberlin regarding the “question of colored students,” marriage licenses, contracts, and printed material such as clippings about the Ipswich Female Seminary. Arranged Chronologically.
Series 7/1/4: Miscellaneous Records, 1833-1938 (11.5 l.f.)
Similar to series 7/1/1 and 7/1/3 in that it contains records of manual labor, bills and receipts for purchases and teaching, and student accounts. A large portion of this series, however, pertains to fundraising, endowment, gifts, and bequests, including six files on the origins and purposes of gifts and named funds, 1879-1936, and information regarding the Charles Martin Hall estate, 1914-38. These files also include unindexed correspondence, 1925-35, and copies of letters sent, 1836-95 (10 vol.). Various sections of files are generally in chronological order, but the sections themselves are not in any particular order.
Series 7/1/5: Letters Received by Oberlin College, 1822-1907 (17.3 l.f.)
Letters received by the Office of the Treasurer, dealing with a wide variety of subjects, including activities of John J. Shipherd prior to 1833, the founding and organization of the Oberlin Collegiate Institute in 1833, fundraising, inquiries from and about students and prospective students, antislavery agitation, aid to blacks, the education of blacks and women, temperance, and evangelical religious activities. An index to this entire series is available and letters dating from 1822 to 1866 have been microfilmed. This series is further divided into two sub-series by date (1822-1866 and 1867-1907). Subseries 1 is chronological; Subseries 2 is alphabetical.
Series 7/1/6: Other Administrative Files, 1834-1965 [acc. 1992/65 and 1995/97] (4.6 l.f.)
This series consists of Ledgers, 1834-43; General Files, c. 1915-60; Records of Class Funds, 1928-43; and Associated Organizations Annual Reports, 1921/22-1949/50. These materials were kept by the College Treasurer and subsequently maintained in a vault following the elimination of that office on the administrative chart. This series also contains records that were received from the Treasurer's office after the 1979 reorganization. This series is arranged alphabetically by subject.
Subgroup II: Administrative Files, 1976-1997 (3.75 l.f.)
This subgroup contains material recently received and covering the time period 1976 to 1997. The subgroup is divided into two series.
Series 7/2/1: Office Files, 1976-94 [acc. 1996/79] (2.5 l.f.)
This series consists of office files, 1976-1994, as maintained by Oberlin College Treasurer, Charles Tharp, 1989-1995. They include general subject files, his Oberlin Shansi Memorial Association trustee files, and select files regarding the College’s divestment of funds in South Africa, 1985-1990. The sub-series is arranged alphabetically by subject.
Series 7/2/2: Reports for the Investment Committee, 1994-1997 [acc. 1997/093 and 1997/123] (1.25 l.f.)
This series consists of soft-bound reports and materials compiled by the Investment Office for the Board of Trustees Investment Committee. The notebooks date from 1994 to 1997. The subseries is arranged chronologically.