9



       Each section of the Financial Report was explained in detail. Members
of the Board being advised, upon motion duly made, seconded and carried, the
report was authorized received and made of record.



       C. Investment of Temporary Funds.

       The Treasurer reported that the University had temporary funds aggregat-
ing in excess of $500, 000, which could be invested in U.S. Treasury Notes. He
recommended that this sum be invested in government securities maturing June
24, 1957, and yielding an interest rate of approximately 3. 2.

       Upon motion duly made, seconded and carried, the recommendation was
approved and the sum of $500, 000 was authorized invested in government bonds
due to mature June 24, 1957.

       The Treasurer also recommended the investment of $20, 000 of group
funds in voted Boyd County revenue bonds due in 1970-71,  These bonds bear
an interest rate of 3-3/4 and are purchased to yield approximately 3. 6.

       The Board discussed the investment, and upon motion duly made, seconded
and unanimously carried, authorized $20, 000 invested in Boyd County voted obli-
gations.



       D. Student Organization Bonds Mature.

       The Treasurer, as custodian of investments of student organizations, re-
ported that the following securities had matured and had been withdrawn from the
lock box and submitted for payment, The proceeds as received will be deposit-
ed to the credit of the various organizations.  The schedule of maturing bonds-
investments held by the Custodian is as follows:



Name of Fund



Amount      Bond Serial Number



Student Government Association

Lances Junior Menv s Honorary
Lances Junior Men, s Honorary
Lances Junior Men, s Honorary



SuKy Circle
SuKy Circle
SuKy Circle
SuKy Circle



Scovell Chapter of
Scovell Chapter of
Scovell Chapter of



Alpha Zeta
Alpha Zeta
Alpha Zeta



$ 500. 00

$  100. 00
    25. 00
    25, 00

$  15 0. 00

$  1900 00
   100, 00
   100. 00
   500. 00

$ 800 00

$   25. 00
    25. 00
    25. 00

$   75, 00



D3 1870 iF

C546743F
Q245160F
Q245161F



C 136173 1G
C 1361730G
C 1361729G
D758609G



Q383782F
Q383783F
Q383781F