2



adjustment bfore the end of the fiscal year.    It is antici-
pated that we will carry forward approximately seventy thou-
sand dollars July 1, 1945, as an unexpended balance.   This
amount has been projected into the proposed budget for 1945-
46.

     The total of estimated income for the University Ex-
periment Station is 114.9 received, as of April 30th.    Re-
ceipts from sales and. services, especially sale of fertilizer
and feed inspection tags largely account for the favorable
position, aided by a conservative estimate of receipts from
these sources at the time of making the budget for :1.944-45.

     The total budgeted income for the Agriculturral Extension
Division Is 100,% received.  Since all funds are derived
from state and federal appropriations, there are no variations
from the budgeted amounts.


                      Exendi tures

     The total expenditures and encumbrances to date for the
University, College Division, are 81,240,393,76, wrhich is
78.5% of the budget appropriation.   Departments have not
exceeded budget appropriations, and some of them will under-
spend the amount authorized.   The same is true for the
University Experiment Station, Fana the AgrioultrlLl Extension
Division.   The University EXYperiment Station hzis sipent and
encumbered 80,5' of its budget and the Agricult;urnl Extension
Division 81% of appropriqted funds.


                     Restricted Funds'

     The total available balances of restricted, accounts,
April 30th, amounted to $951,796.23.   Of this nmount,
$630,448.00 is invested.   The Army program account has a
balance in excess of *$50,000.00 as of this date.  The HIaggin
Fund has a free balance in excess of fifty thousand dollars
as of this date, and it would seem prudent to invest a p,,art
of this balance.   The balances to the credit ot various
restricted fund accounts of the University Eoeriment Sta-
tion and the Agricultural :Extension Divisiton .a~g,,regate
S275,800,23.   The farm Labor and lfnWr Food Administration
funds accounts have il83,359.55 of this, balance.  It is
uncertain as to the length of' time these funds will remain
with the University.


                      Recommendations

      I recommend that thirty thousand dollars of the Army
fund receipts and thirty thousand dollars of the Haggin
Fund free balance be invested.
                                Re spectfu'Lly submitted,

                              (Signed)  Frank D. Peterson
                                        Comrt roller