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[5]

Part of Minutes of the University of Kentucky Board of Trustees

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-5- enrollment on all campuses will increase by approximately 5 percent each year of the biennium; it provides for fixed costs, a 5. 2 percent cost-of-living increase for faculty and staff, for 182 new faculty positions at the Lexington campus and another 45 new faculty members for the Community College System, and for a minimum of new or expanded programs. Dr. Singletary emphasized that in most instances the University's budget requests in the various areas outlined above were lower than those permitted under the state format. Commending President Singletary and Dr. Donald Clapp, Director of the Budget, for the excellent budget presented for approval, Governor Chandler moved that the biennial budget request for 1972-74 be approved for transmission to the Council on Public Higher Education for further transmission to the Governor through the Department of Finance. His motion was seconded by Mrs. Blazer and passed with all present voting "aye'. N. Interim Financial Reports (FCR la and lb) Without discussion, on motion by Mr. Pence, seconded by Mr. Cooper, and passed without dissent, the financial report covering the period ending August 31, 1971 and the report covering the period ending September 30, 1971 were accepted and ordered filed. (See FCR la and lb at the end of the Minutes. 0. Audits for the University of Kentucky for 1970-71 Accepted (FCR 2) On motion by Mrs. Clark, seconded by Governor Chandler, and all present voting "aye', the University of Kentucky Summary Financial Report 1970-71, University of Kentucky Detailed Financial Report dated June 30, 1971, University of Kentucky Housing and Dining System Financial Report June 30, 1971, Purchasing Letter 1970-71, and Cash Reconciliation June 30, 1971 as submitted by the firmn, Peat, Marwick, Mitchel & Company were accepted and ordered filed. (See FCR 2 at the end of the Minutes. ) P. Resolution Authorizing the Filing of an Application with the State Property and Buildings Commission of the Commonwealth of Kentucky for such Commission to Authorize $9, 000, 000 of Revenue Bonds and in Antici- pation of the Issuance Thereof Authorize $9, 000, 000 of Notes to Finance a New Stadium, Parking Areas to be Used in Connection Therewith and Other Necessary Appurtenances, Authorizing the Execution of a Lease Between the Board of Trustees of the University of Kentucky and Such Commission of Such Properties, Authorizing the Execution of an Agreement with the University of Kentucky Athletic Association and Authorizing the Execution and Delivery of a Deed of the Properties on Which such Facilities are to be Located to Such Commission.