At the meeting of the board of directors of the Dining Association, the chairman of the auditing committee stated that until about the middle of January no exact statement of the actual cost of board for part of three months will be possible, as all outstanding bills will not have been presented to the bursar before that time. In the opinion of the auditing committee, the price of board, as charged in the term bills for the first third of the year 1881-2, is substantially correct. If, however, it should then appear that excess has been charged above the actual cost of board, such amount shall be placed to the credit of the association, and go to reduce the price of board on the next term bill.
The actual cost of board for the month of October was about $5.00 per week, but the auditor, under a misapprehension as to the nature and purpose of the "item balance," charged a large portion of it to reducing the price of board in his monthly statement, whereby the price of board was made to appear less than the actual cost. An error of judgment, which perhaps arose from a lack of information as to the nature of said "balance."
The board of directors would remind the association that the price of board over that of previous years is to a large extent due to the very marked increase in the cost of provisions and a decrease in membership.
In the opinion of the board of directors it is very improbable that the price of board will exceed $5.00 per week.