UNIVERSITY             OF KENTUCKY


                          LEXINGTON


                                     March 15, 19 54





Dr. H. L. Donovan, President
University of Kentucky
Lexington, Kentucky

My dear Doctor Donovan:

   I am submitting hereto the monthly financial report of University
Funds.  This report covers the fiscal year beginning June 30, 1953,
setting forth a complete record of the financial affairs of the Univer-
sity through February Z8, 1954.

DIVISION OF COLLEGES:

   Departmental appropriations approved by the Board of Trustees
authorized the expenditure of $4,937, 156.43.  Actual expenditures
including encumbrances outstanding to date are $3, 056, 709. 76, leav-
ing an unencumbered balance of $1, 880,446. 67.

   An analysis of expenditures and encumbrances by departments is
exhibited on Page 4.

   The total income realized to date is $4, 061, 169. 95, of which
$118, 897. 00 was allocated to the plant fund leaving a balance realized
to the colleges of $3, 942, 272. 95. The budget estimate of income to
be realized is $479, 604. 27.

EXPERIMENT STATION:

   The total budgeted income for the Experiment Station is $1, 164, 597. 02,
of which we have received $1, 022,416. 43 during the period. The total
departmental appropriations amounted to $1, 286, 607. 5Z. Of the total
departmental appropriations, $777, 373. 23 has been actually spent or
encumbered during the period.

AGRICULTURAL EXTENSION DIVISION:

   The actual expenditures including encumbrances outstanding for the
Agricultural Extension Division to date are $1, 125, 043. 58, leaving an
unencumbered balance oi $656, 507. 24.



   The total income realized to date is $1, 697, 708. 86. The budget
estimate of income to be realized is $47, 605. 00.