6.



     4. Financial Rcport.

     The Business Agent stated that he was unable to complete the
financial report for March, 1939, in time to submit it to this
meeting.   The President then read the financial report for Feb-
ruary, 1939.   This was published in the minutes of March 15,
1939.


     5. Budget for Year, July 1, 1939, to June 30, 1940.

     President McVey presented the proposed budget for the Uni-
versity for fiscal year July 1, 1939, to June 30, 1940.   This
budget showus the income appropriated and estimated and the esti-
mate of expenditures in the aggregate to be for the Division of
Colleges (General Fund) income $71,349 446.50, expenditures
$1,311,156.23  reserve not allocated t38,390.27; Experiment Sta-
tion, income 8404,937.O0, expenditures, $404,937.00; Extension
Division, income, $723,553.18, expenditures, $723,553.18. Service
funds (dormitories and cafeteria), income $124,362.51; expendi-
tures $110,496.85; balance $13,865.66.

     The budget was carefully examined by the members of the Board,
the items therein being explained and commented on by President
MbcVey.  On motion of r.' Peters, seconded by Ljr. Gatton, which
motion carried by unanimous vote, the pronosed budget was adopted,
subject to future modifications by the Board or Executive CommIt-
tee, and the following endorsement was made thereon:



                     Action on the Budget

          Budget accepted as basis of expenditures for
          the year 1939-40, and provision for income
          and expenditures approved.

                          (Signed) Richard C. Stoll
                                   Vice-Chairman of the Board
                                        of Trustees


                          (Signed)  D. H. Peak
April 4, 1939                      Secretary of the Board of
                                        Trustees.



The budget is made a part of these minutes.   See Volume, Budget
Records,