MnUTES OF TIE BOAPR OF TRUSTEES   -   May 31, 1910



     An Act was passed by the last General Assembly making an additional appro-

priation for the University of $20,000. per annum for two years.  A like amount and

on identical conditions was appropriated for each of the normal schools.  The bill

was vetoed by Governor Willson after the adjournment of the General Assembly. I

think it unfortunate that we were associated with the Normal schools in a common

measure. I feel confident that if we had stood alone we would have gotten a larger

appropriation, with less risk of veto.  Many members of the General Assembly with

whom I had conversation upon the subject were unanimous in the opinion that we had

made a mistake in associating ourselves with the Normal Schools for the introduc-

tion of legislation in common.  When, therefore, we go before General Assemblies

herafter, whether for money or other needful legislation, we should stand alone.

And I vill add that all measures brought before the General Assembly for the benefit

of the University should emanate from the Committee on Legislation appointed by the

Board of Trustees and from them alone.

     For years the financial condition of the University has been a matter of grave

concern.  While knowing within appreciable limits the aggregate income from various

sources, we have not been able to forecast with any degree of accuracy the expendi-

tures for any current year and we have been quite unable to know, within thousands

of dollars, what our obligations were at any time.   This is not as it should be.

The responsible officials of any well managed corporation should be able and are

able to know, at the close of each day, exactly how theli accovauts stand, viz. Sources

of income, incomes realized and realizable, cash on hand, expenditures, fixed charges,

outstanding obligations.   The Comptroller believes that he has devised a scheme

which will clarify the situation. If he can bring order out of the confusion that

has reigned for years past, he will deserve the thanks of the Board.

     There is an estimate deficit of '12,000. or $15,000. at the close of the present

fiscal year, and on the basis of the budget of 1909-1910 an estimated excess of

expenditure over income of $10,000. or Al2,000.   The budget Committee is now at work