7, Organizations Fund.

    a. The Business Agent made following statement:


         When the Organizations Fund was created by order of the
    Executive Committee at the March 1938 meeting, charges for
    .handling the funds were approved as follows:

         "The fees to be charged by the Business Office for
         handling student funds shall be: up to $35 no
         charge; $35 to $99 inclusive - $1; $100 and over
         1% of deposits.'

         Later it was found that the costs of operating the fund
    accounts were less than the amount that would be realized
    from charges if made as above noted, especially in view of
    the fact that an income could be realized by depositing part
    of the funds in interest bearing accounts.   At present,
    $450.00 a year is being received from interest on invest_
    ments and deposits,   Therefore, the funds have been charged
    only with amounts sufficient to carry the expense of account-
    ing,   The number and size of the accounts in the fund have
    increased to such an extent that the expense is gradually
    increasing.  This makes it necessary to employ a full-time
    secretary.  However, it is not necessary to charge the full
    amount of one per cent and it does not appear that such neces-
    sity will arise for some time to come.

          I suggest that the action of the President and Business
     Agent in mahing charges to the funds in amounts sufficient
     only for meeting the expense of accounting be approved.


     On motion, seconded and carried, the action of the President and
Business Agent in limiting the charges to fund deposits to the amount
necessary for expense of operation of the Organizations Fund account-
ing as set out in the Business Agent's statement copied above Was
approved and ratified,


     b. The Business Agent,on approval of President Cooper, suggest-
ed that in the resolution authorizing the setting up of the Organi-
zations Fund, passed at the meeting of the Executive Committee of
March, 1938, changes be inmade in the paragraph of the said resolutions
fixing charges for handling accounts in the Organizations Fund, so
that the paragraph shall read as follows:

          "The Fees to be charged by the Business Office
          for handling student funds shall be: up to
          $35 no charge; $35 to $99 inclusive--not in
          excess of $1 $100 and over, not in excess of
          1 deposits.'



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