Minutes of the Regular Quarterly Mee ting of the Board of
Trustees of the University of Kentucky f or Friday, April 4, 1982* .
The Board of Trustees of the University of Kentucky met in
regular quarterly session in the President's office at the Uni-
v:ersity on Friday, April 4, 1924, at 11:30 a. m. The following
Mlemrbers were present: R. C. Stoll, R. G. Gordon, Frank Mc~ee,
I. P. Ing'els, Lewis M. Lebus, R. J. Bassett, J. I. Lyle, J. M.
Turrner, MdcHenry Rbads, 1W. H. Grady, and H. M. Froman. Presidert
IFran I,. McVey and Wellington Patrick, Secretary of the Board, were-.
The minutes of the December meeting of the Board of Trustees
and the minutes of the Executive Committee since that time were
aLpproved as published.
1. Report of Business Agent. The report of the Business
Agent was read and ordered incorporated in the minutes. The re-
port was as follows:
April 3, 1924
Dr. Frank L. McVey
University of Kentucky
Dear Doctor McVey:
You may wish to present to the Board of Trustees some
of the following suggestions:
Financial Reoort. Please present the financial repor t
for February. The March report cannot be completed in
time for the meeting,
O7erdraft. The Business Office estimates the over-
draft of combined funds as of June 30, 1924, to be $110,000.
This results from the following facts: falling off of rev-
enu.e from the Veterans' Bureau; payment of no-es, $9,000
on Smith Hall and 58,000 on Peabody notes; payment of
$40,000 on basketb&ll builiing and the further fact that no
balance is conteinplated in Ext-ension Division Fulnds. This
will make it necessary to borrow money, and I suggest that
an order be made, authorizing the borrowing of funds not to
exceed $150,000.to meet overdrafts arising this fiscal year.
Fqtimates of Receipts and. Bxnend iturns. I submit an
estimate of receipts and expenditures i.n Xeneral Lund. This
report shows that no further appropriations may be made.