Newberry Library. Business Office.

General file maintained in the Business Office since 1946 when the position of Comptroller (later Controller) was created.

Records were created under the administrations of Robert A. Brannon (1946-1967) and Lawrence C. Hodapp (1967-1985). Until 1967, when the Librarian assumed that function, the Comptroller/Controller was also Secretary to the Board of Trustees.

Starting in 1970, to fund its new research and education programs, special projects, and Library operations, the Newberry relied heavily on grants from national and state government agencies and private foundations.

Funds were used to start research centers; and for seminars, publications, research institutes, fellowships, books, campaign matching funds, conservation projects, etc. Agencies granting monies include NEH, NEA, NIH, NIMH, Illinois Humanities Council, Chicago Community Trust, Rockefeller Brothers Fund, Rockefeller Foundation, and others.

The Newberry Library NEH indirect cost rate, established every two years, is used to calculate the Library's percentage of indirect costs on NEH contracts, grants, and applications.

Reports prepared for the Trustees by the Library's chief financial officer.

Formal annual financial reports issued in bound form were begun by the Library's second Financial Agent, Jesse Moss, in 1899. Report titles vary according to the title of the financial officer: 1899-1946: Report of the Financial Agent; 1947-1963: Report of Comptroller; 1964-1975: Report of the Controller; 1976-1977: Condensed Report of the Controller.

Prior to incorporation in 1892, Newberry Library financial affairs were handled by the Walter L. Newberry estate. The Library Business Office has operated continuously since that date under the supervision of the Financial Agent (1893-1946), Comptroller (1946-1964), Controller (1965-1990), and Vice President for Finance and Administration (1990- ).

In the early years, the Business Office was independent of the Librarian's Office and later it reported through the Comptroller to both the Librarian's Office and to the Trustees. After 1967, the Business Office reported via the Controller and Vice President for Finance and Administration solely to the Director and Librarian, later President and Librarian. Business Office heads include Noah Brooks, 1893-1898; Jesse Moss, 1898-1928; Philip Williams, 1928-1947; Robert H. Brannan, 1946-1967; Lawrence C. Hodapp, 1967-1985; Thomas C. Towne, 1985-1988; Mary Conley, 1988-1990; Melody Savage, 1990-1992.

The Newberry Library's two major accounts prior to 1920 were the General Account and the Library Account. In 1920, the accounts were merged and an account numbering system created which was recorded in the Chart of Accounts.

The General Account consisted of loans, bonds, contracts, and real estate investments which contributed to the Library's General Fund and paid the salaries of the Financial Agent, Controller, and Business Office staff. The Library Account consisted of all transactions relating to the operations of the Library, including staff salaries, book purchasing, bindery expenses, furniture, etc.

Much of the Newberry Library share of the Walter L. Newberry estate, transferred April 25, 1892, consisted of real property, leases and sale contracts.

The Library continued to buy, sell, improve and rent properties (primarily Chicago) into the mid-20th century, but by 1950, the Library had sold most of its real estate.

Prepared by Arthur Young & Co. (1897-1935) and Arthur Andersen & Co. (1936- ) and issued annually.