6



BUDGET

     At the April meeting of the Board of Trustees the
budget is approved.

     The making of a budget is one o' the most difficult
and yet most important assignments delegated to the admin-
istrative officers of the University.   In a period like
the present when there are so many unknown factors in-
volved, it is a major undertaking.   The loss in enrollments
the reouests from the government and industry for the
services of professors, and the assignment of new responsi-
bilities by governmental agencies complicate budget making.
In addition, there are changes in the curriculum that
have to be made to prepare youth to meet the new problems
of a world at war.   This tends to shift emphasis and
requires some outlay of money.   It is extremely difficult
to ascertain with exact accuracy the income of an institu-
tion todays

     The budget of the University which we are submitting
to you has been given much thought.   First, there were
preliminary meetings with the deans of the various col-
leges, at which time it was determined the approximate
income each college could expect this next year.   The
deans then consulted the heads of their departments and
asked them to prepare departmental budgets.   Next, the
dears assembled these requests from departmental heads,
organized and amended recommendations, and brought to
the president the budget for each college.   A conference
with each dean was then held by the president. Finally#
the dean of the University, the comptroller and the presi-
dent went over the budget, calling deans of the colleges
back for further conference when necessary.   Thesc data
were then given over to the comptroller to be assembled
in proper form to be presented here today.   This required
manys, many hours of painstaking work on his part.   I
should like for you to know that the comptroller has
done most of the work in the preparation of this budget.
I am grateful to him for his untiring efforts in the
preparation of this document.

      It should be understood when this budget is approved
by you that it may have to be modified at a later date
as the result of unforeseen emergencies that may occur at
any time.   The kind of a world that we live in is so
uncertain that no planning can be made for a long period
of time.   It is our Judgment that the present budget
represents the best one we can prepare at this time.   If
there are disasters ahead that we can not see at the
present moment, it may be necessary to come before you
again during the year and ask that the budget be amended.