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
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