THE ESTIMATES.

The probable receipts, in the current fiscal year, are estimated in State-
ment No. 3. The probable demands upon the Treasury, for the current
fiscal year, are estimated in Statement No. 4.

"THE FUNDS."

The Free School Fund and Sinking Fund, constituting "The Funds,"
are reported in Statement No. 5.

An examination of this Statement will show, that the "Free School's
Fund " had to its credit in the Treasury, on the 30th September 1854, the
sum of $41,427.76, and that there was received, during the fiscal year just
ended, on this account, the sum of $66,183.23, making an aggregate of
$107,610.99. The amount expended, during the same period, was
$77,555.26, which left to the credit of that Fund, on the 30th September
1855, the sum of $30,055.73.

That portion of the School Fund, which consists of Bank Stock and
Cash, belonging to the Counties, is to be found set forth in Statement A.

The receipts and disbursements on account of the "Sinking Fund,"
during the past fiscal year, are set forth in Statement No. 5.

The receipts, on this account, during the year, ended 30th September
1855, amounted to $263,025.87. This entire sum was invested for the
use of that Fund, so that it will be seen, there was no Gash in the Trea-
sury, at the close of the fiscal year, to the credit of the "Sinking Fund."
The rapid investment of the increment of the "Sinking Fund " has been,
the aim of the Treasurer, that the Fund may be increased as speedily as it
is practicable. By his prudent management, this Fund has been augmented
from the sum of $3,158,637.53, which was its amount on the 30th Sep-
tember 1854, to the sum of $3,426,749.95, within the fiscal year, ended
30th September 1855. Statement B has been prepared to exhibit the
character of the Stocks purchased for the Sinking Fund, since 30th Sep-
tember 1854 to the close of the last fiscal year.