2



                                                Decrease*
                          1943-44    1944-45   or XIncrease

Expenditure s
.Admin.& Gen.Exp.      $  1035726,86 $ 114 476.97 $10,750.11
Instruct.& Rel.Activ,    755,774.84    711,641.14  4-4.-133,7Q*
Agr.Exp.Station           385,225.74   402,362,78  17,137.04
Agr.Exten.                608,707,72   607,724.88         84*
Op.& Maint.Phys.Plant    153, 356.05   195s,715.10  42,359.05
Auxiliary Activ.           84,95871     92,498. 7      5Jb392Se6
     Total. Charges    62,091,749.92  2,12E 1,669.to2



                       Plant Funds

     The budget for Plant Funds for the current year is
459,960.00.  This amount wvas to be used to pay interest and
maturing bonds on the first and second P.W.A. bonds issued
under dates of January 1, 1936, and September 1, 1938, respective-
ly.  The sum of Five Hundred Dollars was appropriated for pay-
ment on the Dicker house, purchased-on an amortization plan,
and Eight Thousand Dollars for the purchase of the Harrison 0-ar-
man property located at 638 South L.mestone Street and Garman
Avenue.

     The original amount of the first P.%T.A. bond issue was
$6534000.00.   Of this issue, 1.34,000.00 has been retired as
of March 31, 19.4,  The second P.W.A. bond Issue was for
$316,000.00.   Of this issue, ^840,000,00 blaw been retired. as
of March 31, 1945.  The total amount of bonds outstanding of
these bond issues is $776,000.00, March 31, 1945, and will be
further reduced June 30, 1945; by the sum of $20,00O.00.

     These bond issues were for a period of thirty years and
bear an interest rate of three Der cent, non-callable.   The
above represents the total indebtedness against University
property,   The income from the property against which the
bonds were issued is sufficient to meet annually maturing
bonds and to pay the interest,


           Aeronautical Research Laboratory

     The Aeronautical Research Laboratory has operated under
University management since July 1, 1944, with Professor A.J,
Meyer in cha rge.  This Laboratory is a part of the general
program of the Collecre of Engineering which is administered by
D, V, Terrell, acting dean,   Employees and monthly payrolls
are approved by Dean Terrell.

     There are, at paresent, twenty-one. persons employed and
assigned to work in the Laboratory,, with a monthly payroll of
approximately Fifty-Five H1tundred Doll.t.rs,  This number, Is sub-
ject to change as work requires and employeds decide to change
employment.   It Ise not always oossible to keep all employees
profitably engaged.,  It is necessary to carry an undistributed