BURSAR (Med. Lat. bursarius), literally a keeper of the bursa or purse. The word is now chiefly used of the official, usually one of the fellows, who administers the finances of a college at a university, or of the treasurer of a school or other institution. The term is also applied to the holder of "a bursary," an exhibition at Scottish schools or universities, and also in England a scholarship or exhibition enabling a pupil of an elementary school to continue his education at a secondary school. The term "burse" (Lat. bursa, Gr. "borsa", bag of skin) is particularly used of the embroidered purse which is one of the insignia of office of the lord high chancellor of England, and of the pouch which in the Roman Church contains the "corporal" in the service of the Mass. The "bursa" is a square case opening at one side only and covered and lined with silk or linen; one side should be of the colour of the vestments of the day.
Note - this article incorporates content from Encyclopaedia Britannica, Eleventh Edition, (1910-1911)