Statistical Report 1935-1936 - Department of Education and Skills

132In general, the powers and duties of the various Trustees andGoverning Bodies were exercised and discharged in a regular way inaccordance with the provisions of the respective endowment schemes.The reports and other returns required under the schemes wereproperly compiled and duly furnished to the Department, except ina few cases to which special attention is being given.The reports of the Inspectors appointed by the Minister forEducation, as well as the abstracts of accounts and reports furnishedby the Auditors, indicate that, in substantially all cases, the propertyand funds of the Endowments were satisfactorily managed in accordancewith the statutory regulations, that the schools were efficientlyconducted and that the various buildings and equipment were maintainedin good condition and repair.Endowments directly controlled by the Minister for Education.The number of endowments directly controlled by the Ministerfor Education during the year Was fifteen, which includes nineteenseparate funds as follows :-The five Local Boards of Education(Free State portion of Ulster Royal School Endowments, SchemeNo. 34) ; the Preston Navan Endowment and the Athlone PrivateSchool Endowment (Scheme No. 55); the Carysfort Endowment(Scheme No. 85); the Banagher Royal School Endowment and theDiocesan School Endowments of Meath and Ardagh : Tuam, Killalaand Achonry, and Leighlin and Ossory (Scheme No. 90) ; the LeamyEndowment (Scheme No. 95) ; the Preston Endowment, Leix (SchemeNo. 111); the Banks Endowment (Scheme No. 128); the ViscountLimerick Endowment (Scheme No. 143) ; the Parsons Persse Endowment(Scheme No. 180); the Limerick Diocesan School Endowment,and the Preston Scholarship Fund.In accordance with an Order of the High Court of Justice, dated6 June, 1935 (No. 5469), containing a Scheme for the administrationof the Limerick Diocesan School Endowment, all the property of theEndowment consisting of securities and accrued dividends and interestwere transferred to the Accountant, Courts of Justice, on the 31stDecember, 1935.The Order referred to provided for the division of the total fundsavailable in the proportion of three-fourths to the credit of the CountyCouncil of Limerick towards the financing of the provision of technicalschools at Cappamore, Croom, Kilfinane and Shanagolden, and theremaining one-fourth to the credit of the Corporation of the City ofLimerick to be applied for the purposes of technical education andfor continuation education in the County Borough.133The securities lodged in Court in accordance with the Order wereas follows :-£ s. d.Great Southern Railway 4 per cent. Preference.. 46 0 0Bank of Ireland Stock . . . . .. 30 0 0Second National Loan 5 per cent. Stock .. 696 0 2Dublin Port and Docks Board 5 per cent. Stock 64 3 2Agricultural Credit Corporation 5 per cent. Bonds .. 270 0 0Saorstat Eireann 4t per cent. Land Bonds .. 25 0 0and cash in hands of the Minister, £493 4s. 6d., being accumulation ofdividends, interest and current account, school rent and cash valueof stock in excess of the exact multiples to which transfers are limited.During the year 1935-36, the number of schools having claims toshare in the nineteen funds already enumerated was sixty, of whicheighteen were Secondary and fourteen Primary; and, in addition,pupils of seventy-eight Secondary Schools were entitled to competefor Scholarships offered under Scheme No. 90.The income and expenditure for the year 1935 of the nineteenfunds mentioned above have been certified by an Auditor of theDepartment of Local Government and Public Health, under date30th April, 1936, and are summarised as follows :-I.-INCOME, 1935.Credit Bal-Rents Dividends Miscellaneou S ances,TotalJan. I, 1935------£ s. d. £ s. d. £ s. d. £ s. d. £ s. d.73 12 4 2,906 16 8 409 15 0 11,560 14 2 4,950 18 2II.-ExPENDITURIl, 1935.Rent,Rates, and Invest- Educational CreditMiscel- Annuities ments Purposes Balances, Totallaneous Dec. 31, 1935---- ------ ----- ------ ------ -----s s. d. £ s. d. £. s. d. £ s. d. £ s. d. ;£ s. (139 16 11 46 10 0 3 12 3 3,070 1 10 1,690 16 2 4,950 18 2No alterations in the Stocks or Endowments took place during theyear other than such alterations as were necessitated by the windingupof the Limerick Diocesan School Endowment, and the securitiesvested in the Minister for Education on behalf of the Endowed SchoolsBranch at the end of the year 1935 were :-Great Southern Railways 4 per cent. DebentureStock * ., . . . . . . .. £10,573 0 0,