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Part of Minutes of the University of Kentucky Board of Trustees

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Minutes of the Meeting of the Board of Trustees of the University of Kentucky, April 1, 1958. The Board of Trustees of the University of Kentucky met in the Presi- dent's Office at 9:15 a. m. , CST, Tuesday, April 1, 1958, with the following members present: Vice Chairman R. P. Hobson, Harper Gatton, Robert C. Stilz, Dr. Daniel C. Elkin, Ben Butler, Carl Dempewolfe, Mrs. Paul G. Blazer, J. Stephen Watkins and Dr. Paul Hall. Absent: Governor A. B. Chandler, Chairman; W. F. Foster, Wood Hannah, Sr., Robert R. Martin, Louis Cox and Dr, Ralph J. Angelucci. President Frank GC. Dickey and Secretary Frank D. Peterson met with the Board. A. Meeting Opened. President Dickey stated that the Governor' s Office had just called to say that the Governor was busy reading and signing bills and might not be able to get to the meeting. President Dickey welcomed Dr. Paul Hall, Paintsville, the new member of the Board of Trustees, and reported that Mr. J. Stephen Watkins had also been reappointed. Doctor Hall and Mr. Watkins had previous- ly taken the oath of office. B. Minutes Approved. The minutes of the Board of Trustees of December 10, 1957, and the minutes of the Executive Committee of January 24 and March 14, 1958, were approved as published. C. Financial Report. Mr. Peterson made financial report, consisting of balance sheet and related financial statements which covered the period beginning July 1, 1957 and ended February 28, 1958, He stated that the General Fund budget had received during the period $10, 123, 529. 87, which was 85. 7%/o of the budget estimate of $11, 807, 251. 67. The expenditures, which included encumbrances outstanding for the eight-months period, totaled $7,917,421.90, which was 66.5% of the budget estimate for departmental appropriations of $11,901,397. 14. Mr. Peterson explained in detail the balance sheet, unrealized income, depart- mental appropriations and plant fund appropriations. Each member of the Board was given a copy of the report, which read as follows: