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[6]

Part of Minutes of the University of Kentucky Board of Trustees

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-6- student aid if claims of equal educational opportunity are to have any substance. Hence, $40, 000 has been put into student aid by the University in order to have matching dollars available for federal funds. In conclusion, the President stated that the budget he was recommending for approval was one that hasn't made anybody happy but it does represent the best judgment as to how funds of this institution should be appropriated next year. Mr. Clay thanked the President and Dr. Clapp and his staff for the excellent job they had done in preparing the budget document. He then asked if there were any questions from members of the Board. There being none, on motion by Judge Sutherland, seconded by Mr. Black, and passed without dissent, the recommendation for approval of the budget as presented in PR 8 wasapproved. (See PR 8 at the end of the Minutes. ) N. Interim Financial Reports Accepted (FCR 1A and IB) Mr. Sturgill, acting in the absence of Mr. Griffin, Chairman of the Finance Committee, recommended approval of the two financial reports included on the agenda--one for the period ending January 31, 1973 and the other for the period ending February 28, 1973. Mr. Sturgill so moved and his motion was seconded by Mr. Palmer. All present voted "aye" and the financial reports were accepted and ordered made a part of the Minutes of the meeting. (See FCR 1A and lB at the end of the Minutes. ) 0. External Auditors for 1972-73 Approved (FCR 2) Mr. Sturgill recommended that the firm of Lybrand, Ross Bros. & Montgomery be engaged to perform an examination of the accounts of the Uni- versity of Kentucky and its affiliated corporations for the fiscal year ending June 30, 1973 for the fee and under the conditions stated in the recommendation in FCR 2. On motion by Mr. Sturgill, seconded by Mr. Goss, and passed, it was so ordered. (See FCR 2 at the end of the Minutes. ) P. Mr. Wendelsdorf's Recommendations Heard Mr. Wendelsdorf requested permission to read three recommendations into the record, acknowledging that he did not expect any action since he had not presented them 10 days prior to the meeting. Mr. Clay agreed that he might do so with the clear understanding that no action could or would be taken relative to them. Mr. Wendelsdorf then read recommendations which he had prepared on the following items: (1) an amendment to the Governing Regulations relative