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[3] > Image [3] of Minutes of the University of Kentucky Board of Trustees, 1955-03-apr5.

Part of Minutes of the University of Kentucky Board of Trustees

3A administrative officers of the University whose approval they must have before being submitted to the Board of Trus- tees. Every budget of each college and independent admin- istrative unit of the University is carefully reviewed, many hours being spent in going over these budgets by the President, Vice President and Comptroller. After they are approved, all of the budgets are given to the Comptroller and they are put into the form which you have before you. It usually takes from six weeks to two months from the time the budget studies are initiated until they are completed for your consideration. Estimated Income The estimated income for the Division of Colleges, (page 2), is listed by source and fund groups. The total General fund income for 1955-56 is $4,964,465. 60 which is $117,067. 50 more than the revised estimated income for 1954-55. Although we anticipate an increase in enrollment of approximately 600 students for 1955-56, the increase in student fees will be only $4,000 since receipt of accrued Federal tuition for prior years was included in the revised estimate for student fees for 1954-55. The income from State appropriations, Federal government, En- dowments and Sales and Services is the same as 1954-55. Income from Auxiliary enterprises will increase $113, 067.50 because the University will operate two new dormitories; one for women and one for men. Plant fund will receive $167,019.40 from self-support- ing enterprises for payment of their respective debt service costs for 1955-56, Debt service costs for instruction and research fa- cilities total $163,324. 50 for 1955-56. This sum will be trans- ferred from the current General Fund. Estimated Expense The estimated expenditures for the Division of Collegefs are listed by function and fund groups. The total General fund proposed expenditures for 1955-56, (page 5.96), is $5,429,941. 83 which is $358, 360. 71 more than the approved budgets for 1954-55. The appropriations for Educational and General expenditures are $254,939. 96 more than the amount budgeted for 1954-55. This increase was used for adjustments in salaries, increased operating expenses and expansion in present programs. Appropriations for Auxiliary Enterprises totaled $364,268 for 1955-56. Plant fund appropriations, (page 97-100), totaled $330, 343 9G for the 1955-56 debt service costs. The debt service costs consist of $188,500 for principal, $141,216. 62 for interest and $627. 28 for trustees, fees,