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Part of Minutes of the University of Kentucky Board of Trustees

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INC OME The estimated income for the Division of Colleges and Plant for the fiscal year 1953-54 totals $ 4, 757, 567. 87, an increase of $ 384, 876. 82 over the estimated income for the current fiscal year. The biennial budget enacted by the General Assembly and approved by the Governor in 1952 provided for an increase of $ 249, 600. 00 in the appropriation for operations of the Division of Colleges for the second year of the biennium. The University State appropriation for Vocational Education through the State Department of Education for the year 1953-54 has been decreased $ 467. 59. Therefore, the net increase from state appropriations for the Division of Colleges is $ 249, 132. 41. Federal funds for Vocational Education purposes (Smith-Hughes Act) is received on a matching basis, and since the State Vocational Education funds allocated to the University were decreased $ 467. 59, there will be a like decrease in federal grants for these purposes. The estimated income from student fees for the ensuing fiscal year is increased by $141, 778. 00. This increase is due to an expected enroll- ment of 2, 300 for the summer term and 4, 800 for each of the two semesters for the academic year 1953-54. Also, the estimate of income from stu- dent fees takes into account veterans, tuition in arrears. It, likewise, reflects the fact that the Korean veterans will pay the same fee and be considered as any other student, thus eliminating the "tuition" charge in addition to the registration and incidental fee, formerly received from veterans enrolled under the original G. I. Bill of Rights. The estimated income for auxiliary enterprises reflects a decrease of $ 4, 843. 00 for the year 1953-54. A small decrease in the summer term occupancy in the residence halls is anticipated. There is a small decrease in the requirements for debt service in the Plant Fund. EXPENSE The total estimated expenditures for the Division of Colleges and Plant for the fiscal year 1953-54 are $ 5, 240, 217. 04. This is an increase over the estimated expenditures for 1952-53 of $ 531, 097. 86. The amount budget- ed for Plant commitments is $ 3, 765. 00 less than the preceding year. Ap- propriations for all other functional purposes have been increased. The requested appropriation for administrative and general expense has been increased $ 57, 857. 00. However, $ 22, 280. 00 of this increase is budgeted for an International Business Machine Service Unit to be used for adminis- trative and research purposes. The rate of employer' s contribution to Social Security will on January 1, 1954, be increased from 1-1/z to 2 per cent on gross wages and salaries. This increase in rate will cost the University an additional $15, 000. 00 for the period. The normal adminis- trative and general expense for the University has been increased $ 20, 577. 00, which is 3. 87 per cent of the total increase for the Division of Colleges and Plant. The largest increase is for instruction, research, and related activ- ities, which amounts to $ 31i, 199. 86. This is 58. 59 per cent of the total increase of $ 531, 097. 86 for the Division of Colleges and Plant. Practically