xt73ff3kws5g https://exploreuk.uky.edu/dips/xt73ff3kws5g/data/mets.xml Lexington, Kentucky University of Kentucky 1954036 minutes English University of Kentucky Contact the Special Collections Research Center for information regarding rights and use of this collection. Minutes of the University of Kentucky Board of Trustees Minutes of the University of Kentucky Board of Trustees, 1954-03-apr6. text Minutes of the University of Kentucky Board of Trustees, 1954-03-apr6. 1954 2011 true xt73ff3kws5g section xt73ff3kws5g 


Irregularities




 













           Minutes of the Meeting of the Board of Trustees of the University
of Kentucky, April 6, 1954.


           The Board of Trustees of the University of Kentucky met in the
President, s Office at 10:00 a. m. , Tuesday, April 6, 1954, with the following
members present: Guy A. Huguelet, Vice Chairman; Carl Dempewolfe, Dr.
Ralph J. Angelucci, Herndon J. Evans, M. W. Moore, R. P. Hobson, Ben
S. Adams, Smith D. Broadbent, Thomas A. Ballantine and Harper Gatton.
Absent: Governor Lawrence W. Wetherby, Mrs. Paul G. Blazer, J. C. Ev-
erett, Wendell P. Butler and Paul M. Basharn.  President H. L. Donovan
and Secretary Frank D. Peterson met with the Board.


           A. Minutes Approved.

           On motion duly made, seconded and carried, the minutes of the
Board of Trustees of December 15, 1953, and the minutes of the Executive
Committee of January 15 and February 19, 1954, were approved as published.



          B. Report of the Comptroller.

          The Comptroller submitted financial report for the fiscal year be-
ginning July 1, 1953, through February 28, 1954. The Comptroller read a
prepared statement concerning the Division of Colleges, Experiment Station,
Agricultural Extension and Plant Funds. The report consisted of a balance
sheet and a statement of operations of the various departments and divisions.




 







             UNIVERSITY             OF KENTUCKY


                          LEXINGTON


                                     March 15, 19 54





Dr. H. L. Donovan, President
University of Kentucky
Lexington, Kentucky

My dear Doctor Donovan:

   I am submitting hereto the monthly financial report of University
Funds.  This report covers the fiscal year beginning June 30, 1953,
setting forth a complete record of the financial affairs of the Univer-
sity through February Z8, 1954.

DIVISION OF COLLEGES:

   Departmental appropriations approved by the Board of Trustees
authorized the expenditure of $4,937, 156.43.  Actual expenditures
including encumbrances outstanding to date are $3, 056, 709. 76, leav-
ing an unencumbered balance of $1, 880,446. 67.

   An analysis of expenditures and encumbrances by departments is
exhibited on Page 4.

   The total income realized to date is $4, 061, 169. 95, of which
$118, 897. 00 was allocated to the plant fund leaving a balance realized
to the colleges of $3, 942, 272. 95. The budget estimate of income to
be realized is $479, 604. 27.

EXPERIMENT STATION:

   The total budgeted income for the Experiment Station is $1, 164, 597. 02,
of which we have received $1, 022,416. 43 during the period. The total
departmental appropriations amounted to $1, 286, 607. 5Z. Of the total
departmental appropriations, $777, 373. 23 has been actually spent or
encumbered during the period.

AGRICULTURAL EXTENSION DIVISION:

   The actual expenditures including encumbrances outstanding for the
Agricultural Extension Division to date are $1, 125, 043. 58, leaving an
unencumbered balance oi $656, 507. 24.



   The total income realized to date is $1, 697, 708. 86. The budget
estimate of income to be realized is $47, 605. 00.




 












PLANT FUND:

   Plant Fund operations show that funds expended or encumbered dur-
ing the period total $944,995. 28, leaving an amount spent in excess
of the appropriation of $16, 817. 59. Plant funds made available through
February 28, 1954, total $928, 177. 69.

                                             Respectfully submitted,



                                             Frank D. Peterson
                                             Comptroller




 








University of Kentucky
  BALANCE SHEET
As of February 28, 1954


       ASSE TS



Division
  of
Colleges



Current Funds:
General:
Cash in Bank
Petty Cash Advs.
State Allotments.
Current Year
Prior Year
Revolving funds
Receivables
Inventories
Deferred Chgs.
Unreal. Income

   Total Gene ral

 Restricted:
 Cash in Bank
 Petty Cash Advs.
 Due from General
 Inve stments

 Total Restricted

 Total Current

 Plant Funds:
 Unexpe-n-de-d
 Revolv.:vlunds
 Unreal. Income

   Total Unexpended
Investment in Plant:
Construction Authorized
Fixed Assets

   Total-Inve sted
   Total -Plant



Other Funds:
Cash in Bank
Notes Receivable
Investments

   Total Other Funds
   Total Assets



$   184, 782.11
     13,723.24



626, 034. 31
     948. 09
1,004,242.56
   16, Z76. 76
 531,172.86
 76, 212. 20



Agricultural
Experiment
  Station



$



93,616. 39



12, 146,58
16, 059. 32
384,331.85



Agricultural
Extension
  Division



$ 394,629.56


   202,545. 27
   11,727. 41



52,739.00



    479,604.27    142, 180. 59

$ 2,932,996.40 $ 701,073. 73


$   890,686.83 $  142, 285. 66
      4,175.00        600.00
      30, 000.00
    800,266.63     15,000. 00

$ 1,725, 128.46 $  157, 885. 66

$ 4,658,124.86 $ 858,959.39



$   707,039. 11 $  97,137.33
     27,629.00

$   734,668.11 $  97,137.33

$   710,000.00 $
2,9,372,375. 52  3,048,041.31

$30,082,375.52 $3, 048,041.31
$30,817. 043.63 $3, 14,1T78.6T

    Loan          Endowvment


$     5,283.70 $     3,979.29
     14,607.61
     75,500. 00   200, 700.48

$    95,391.31 $ 204,679.77



   Total



$   673,028. 06
     13, 723. 24

     840, 726. 16
     28, 734. 82
  1,388, 574. 41
     16,276.76
     583,911.86
     76,212.20



    47,605. 00   669,389. 86

$ 656,507. 24 $ 4,290,577. 37


$  125,546.17 $ 1,158,518.66
     3,000. 00       7,775.00
                    30,000.00
    14,948. 00    830,214.63

$  143,494.17 $ 2,026,508.29

$ 800,001.41 $ 6,317. 085. 66



$              $   804,176.44
                    27,629. 00

$              $   831,805.44

$              $   710,000.00
                32,420,416.83

$              $33, 13Q,416, 83
$              $ 33, 962, 2Z2. 27

   Agency


$   44,356.45 $   53,619.44
                    14,607.61
    15,000.00    291,200.48

$ 59,356.45 $ 359,427.53
               $40, 638, 735. 46




 






2



University of Kentucky
  BALANCE SHEET
As of February 28, 1954

    LIABILITIES



Agricultural
Experiment
  Station



Agricultural
Exten sion
  Division



Current Funds:
General:
Petty Cash Liability
Res. for encumbrances:
   Current Year
   Prior Year
 Res. for inventories
 Other liabilities
 Unapprop. Surplus
 Approp. Bals.

   Total General

 Re stricted:
 Outstanding Checks
 Restr. Balances

   Total Restricted
   Total Current

Plant Funds:

Res. for T ncumbrances:
  Current Year
  Prior Year
  Surplus Funds
  Approp. Balances

  Total Unexpended

  Investment in Plant:
  Bonds Payable
  Net Invested

  Total Invest.

  Total Plant



Other Funds:
Bal. as to Principal
Bal. as to Income
  Total Other Funds
  Total Liabilities



$    30,000. 00.. $



218, 021. 08
33, 648. 37
531, 172.86
76, 212. 20
163,495. 22



$



54, 533.34
8, 847. 24
52, 739.00



75, 719 36



  1,880,446.67    509,234.29

$ 2,932,996.40 $  701,073.73


$     6,452.74 $
  1,718,675. 72   157,885.66

$ 1, 7Z5, 128.46 $  157,885.66
$ 4,658,124.86 $  858,959.39



$   807, 543. 75
     41,079, 28



$



$    30,000. 00

    272,554. 42
    42,495. 61
    583,911. 86
    76, Z12. 20
    239, 215. 08



   656,507. 24  3,046, 188. 20

$ 656,507. 24 $ 4, 290,577. 37


$             $     6,452.74
   143,494.17  2,020,055.55

$  143,494.17  2,026,508.29
$  800,001.41 $ 6,317,085 66



$



$   807,543.75
     41, 079. 28



    113,954.92*    97, 137. 33                    16, 817. 59*

$   734,668. 11 $  97,137.33 $               $    831,805.44


$ 3,219,500.00 $               $             $ 3, 219,500. 00
Z6,862,875.52  3,048,041.31                  z___9,91o,916. 83

$30, 082,375.52 $3, 048, 041.31 $         $33, 130, 416. 83

$30, 817,043.63 $3, 145, 178.64 $         $33,962, Z22. 27

    Loan          Endowment       Agency


$    66,616. 01 $  201,616.64 $              $    268,23z.65
     28,775.30      3,063.13       59,356.45      91,194.88
$    95,391.31 $ 204 67-9. 77 $  59, 56.45 $  359,427.53
1;                                           $40,638,735.46



*Negative Figure.



Division
  of
Colleges



Total




 






3



         University of Kentucky
STATEMENT OF UNREALIZED INCOME
For the Current Fiscal Period which began
July 1, 1953 and ended February 28, 1954


            General Fund



Budget
E stimate



Division of Colleaes:
duc ational and General:
State Appropriations
Federal Grants (through the State)
Student Fees
Endowment Income
Sales and Services and Rentals



Subtotal



Auxiliary Enterprises:
Mesisence oalls
Mi scellane ous



Subtotal



Total -College s



Less-Income allocated to plant
      Net -Colleges

Agricultural Experiment Station:
State Appropriations
Federal Grants (direct)
Sales and Services

      Total-Experiment Station


Agricultural Extension Division:
State Appropriations
Federal Grants (direct)

      Total-Agr. Extension

      Total General

Plant Fund:
TeneralInicome Allocated
Stores Overhead

      Total -Plant

      Combined Total
*Realized in excess of estimate.



$3, 141,783. 50
   124,879. 10
   687,800. 00
     9,644.50
     18, 700. 00

$3,982,807. 10



$ 359,132.00
   198, 835. 12

$ 557,967. 12



$4, 540,774. 22

$ 118,897.00
$4,421,877.22


$ 435,600.00
   328,137.02
   400,860. 00

$1,164,597.02



$ 618,200.00
1, 127, 113.86

$1, 745,313. 86

$7,331,788.10


$ 188,897.00
    27,629.00

$ 216,526.00

$7,548,314.10



Realized
to Date



$3, 010, 783.41
    93, 249.01
    613,999. 36
    9, 700. 00
    11,477.99



Unrealized
Balance



$131,000.09
  31,630. 09
  73, 800. 64
      55. 50*
   7, 222. 01



$3,739,209.77 $243,597.33
     93. 887o


$ 204, 799. 19 $154,332.81
   117, 160.99  81, 674. 13

$ 321,960. 18 $236,006.94
     57.70

$4,061, 169.95 $479,604.27
     89.44%o
$  118,897.00 $
$3,942,272.95 $ 479, 604. 27
    89. 15%

$ 405,600.00 $ 30,000. 00
   257,298.76   70,838.26
   359,517.67   41,342.33

$1,022,416.43 $142, 180.59
     87. 797oa


$ 571,000.00 $ 47,200.00
1,126 708. 86    405. 00

$1,697,708.86 $ 47,605.00
    9A7. 2A7o
$6,662,398. 24 $669,389.86
    90. 87%

$  188,897.00 $
                 Z7, 629.00

$  188,897.00 $ 27,629e00
     87. z4 o
$6,851,295.24 $697,018.86
     90. 7ry7




 





4



               University of Kentucky
STATEMENT OF DEPARTMENTAL APPROPRIATIONS
     For the Current Fiscal Period which began
     July 1, 1953 and ended February 28, 1954


                   General Fund



Depart.
Approp.



Expendi -
ture s



Encum-
brances



Approp.
Balances



Division of Colleges:
Adm. and General Expense:
Gen. Adm. Offices
Student Welfare
General Expense

      Subtotal

Instruction and Research:
College of --
  Arts and Sciences
  Enginee ring
  Comme rce
  Agr. and Home Ec.
  Law
  Education
  Pharmacy
Graduate School
University Research
Library
Univ. Extension
Other Activities

      Subtotal


Operation and Maintenance
of Physical Plant, etc.
General Appropriation
Special Appropriations
Work in Progress
General Stores, etc.



$ 205,434.93
    72, 825. 26
    165, 245. 04



$  131,276.99
    47,650.95
    78, 102. 05



$ 443, 505. 23 $ 257,029.99
                         60.


$1,427,719.29 $ 919,691.76
   360,424.27   215, 259.40
   183,809,02   120,990. 15
   261,912.96   i46,352.04
   75,756.34    44,551.25
   330, 153.80  200,652.30
   81,428.00    49,058.53
   11,385.36      7,621.54
   20,000.00      5,619.13
   250,479.84   167,954.85
   127,619.93    88,575.65
   26,640.00    17,579.97

$3,157,328.81 $1,983,906. 57
              -~~  -    64. E



$ 755, 7Z0.00 $ 397,870.94
    70,000.00   41,461.49
    25,000. 00   10,654. 60
    55,000.00   54, 273.47



$    2,011. 13
      495. 83
      9,328. 17



$
62%



$



11,835. 13 $



$   30,767.23
     4,948. 05
       179. 86
     3,474. 52
     2,248. 69
     5,480. 84
     1, 151. 02
        29. 40
     4,894. 25
     1,525. 64
     2,083. 20
       181. 20



  $
64%



$



72, 146. 81
24,678.48
77, 814. 82



174,640.11



477, 260.30
140, 216. 82
62,639.01
112, 086. 40
28, 956.40
124, 020. 66
31, 218.45
3, 734. 42
9, 486.62
80,999.35
36,961.08
8, 878. 83



56,963.90 $ 1, 116,458. 34



$   80,900.64 $  276,948.42
    19,006. 35     9, 532. 16
                  14, 345. 40
- ----- __  ____ __  - -109, 273. 47



$ 905,720.00



$ 395, 713.56    $
          54. 72%o



99,906.99 .$



410, 099. 45



Auxiliary Enterprises:
Residence Halls
Miscellaneous
      Subtotal

      Total -Colleges



$  305, 114.39
   125,488. 00



$ 182,959.80      $
   19, 078. 76



!$ 430, 02.39 $ 202,V 038. 56
                        58.  
$4, 937, 156. 43 $2, 838, 688.68,



  .31
31%o  



47,283.56 $
  2, 031. 50
-49, 3 50ZTT



74, 871. 03
104, 377. 74
T179, 48T,7



$  218,021. 08 $1,880,446.67



61. 9 1 o



*Negative figure.



Subtotal




 








              University of Kentucky
STATEMENT OF DEPARTMENTAL APPROPRIATIONS
     For the Current Fiscal Period which began
     July 1, 1953 and ended February 27, 1954

                  Gene ral, Fund



Depart.
Approp.



Expendi -
ture s



Encum-
brances



Agr. Experiment Station:
Admini stratioii
Animal Husbandry
Agronomy
Animal Pathology
Creamery License
Dairy
Dairy Cattle Improve.
Entomology and Botany
Agr. Economics
Feed and Fertilizer
Home Economics
Horticulture
Poultry
Publications & Lib.
Public Service Labs.
Regional Research
Robinson Substation
Rural Sociology
Seed Stocks
Black Shank
Farm Maintenance
Social Security
W. Ky. Substa,
Library

  Total -Agricultural
      Experiment Sta-
      tion



$ 165, 828. 85
    72, 176. 00
    148,954.00
    51,494.00
    9, 291.00
    67, 749.00



94, 830. 00
136, 663. 00
160, 000. 00
18, 100. 00
44, 530, 00
35, 136. 00
28, 650. 02
32 3200.00
6, 900.00
22,400.00
32, 242. 00
72 000. 00
49, 615. 65
39, 008.00

54, 400. 00
9, 340. 00



$ 53, 184. 71
  53, 898. 02
  85, 892.95
  31, 037.70
  5, 747. 34
  48, 604. 38



54,462.91
83, 305. 76
81,442.24
10,446. 71
27, 236. 52
20, 196.51
11,965.89
19, 853.57
3, 809.72
15, 057. 38
18, 889.38
4, 674. 82
20, 839. 17
28, 747. 42
3,832.11
32, 429.37
7, 285. 31



$1, 286, 607. 52 $722, 839.89
            ~~~~~~~ 0.



$ 7,317.83
  1,268.49
  1, 072. 86
     16.40
     86. 80
  1, 020. 47

  1, 561. 90

  24, 522. 15
     67. 68
  1,781. 14
  1, 947. 37
    805. 00


  1, 322.92
     14. 30

  1, 367. 07
  6,821. 15

  3, 533. 06
      6. 75



$54, 533.34



$105,3Z6.31
  17,009.49
  61, 988. 19
  20,439. 90
  3,456.86
  18, 124. 15

  38k. 805. 19
  53, 357. 24
  54, 035.61
  7,585.61
  15, 512.34
  12,992. 12
  15, 879. 13
  12, 446.43
  3, 090. 28
  6, 019.70
  13, 338.32
  2, 325. 18
  27,409.41
  3, 439.43
  3,832. 11*
  18,437.57
  2, 047. 94



$509,234.Z9



* Negative figure.



Approp.
Balances




 











              University of Kentucky
STATEMENT OF DEPARTMENTAL APPROPRIATIONS
     For the Current Fiscal Period which began
     July 1, 1953 and ended February 27, 1954

                  General Fund



Depart.
Approp.



Expendi -
ture s



Encurn-
brance s



Agr. Extension Division:
Admminsthation
Agr. Engineering
Agronomy
Animal Husbandry
Clothing
County Agents
Dairy
Farm and Home Conven.
Farm Management
Forestry
Foods
Home Dem. Agents
Home Management
Horticulture
Junior Clubs
Markets
Poultry
Public ations
Public Information
Rural Sociology
Black Shank
Social Security
Adm. Reserve



$  41,69z. 00
   29,460. 00
   33,651. 69
   24, 198.00
   12, 600. 00
   815,928. 47
   27, 349. 00
   1, 500. 00

   10,936. 00
   11, 712. 00
   500, 358. 17
   30,484. 00
   18, 869. 00
   79, 441. 00
   30. 153. 00
   17, 010.00

   50,991. 08
   5, 685. 00
   32, 727.41

   6, 805. 00



$   24, 144. 83
    17, 336. 17
    22, 187.49
    15, 746. 30
    8, 350. 00
    523, 115.05
    16, 655. 70
    1, 20G. 71



$



$  17,547. 17
   12, 1.23. 83
   11,464. 20
   8,451. 70
   4,249.42
   292,813.42
   10,693. 30
      293. 29



6, 125. 28
  7,471. 60
321, 251.49
18, 100. 69
12, 665. 79
51,870. 50
22, 223. 25
11,433. 23



27,987. 37
4, 046. 77
12, 226. 26
   898. 52



4,810. 72
4, 240. 40
179, 106.68
12,383. 31
6,203. 21
27,570. 50
7,929. 75
5, 576. 77



23,003. 71
1,638. 23
20,501. 15
  898. 52*
6, 805. 00



Total -Agricultural
  Extension Div.



Combined Total



$ 1, 781, 550. 82



$8,005,314.77



$1,125,043.58  $
           63. 1 5



$4, 686, 572. 15  $272,554. 42
           61.9 %



$ 656,507. 24



$3, 046,188. 20



*Negative figure,



6



Approp.
Balances




 






7



         University of Kentucky
STATEMENT OF PLANT APPROPRIATIONS
For the Current Fiscal Period which began
July 1, 1953 and ended February 28, 1954

              Plant Funds



Division of Colleges



Dept.
Ap2roR.



Expendi -
tures



Encum-
brances



Free
B alanc e



Bond Issues

P. W. A. First Bond Is sue
P. W. A. Second Bond Issue
Dorm. Rev. Bond Issue
Audit-Coliseum Issue
Lib. & Serv. Bldg. Issue
Stadium Rev. Issue
Rose St. 456--Dorm Issue
Journalism Bldg. Issue
Rose St., 476--Dorm
Library & Service Bldg. -Res
Dorm. Rev. Issue, A--F

   Total Bond Issues


Construction

Dicker House Annuity
Coliseurn Constr.
Norwood Hall- -Fire Loss
New Men' s Dorm. Constr.
Serv. Bldg. Constr.
Fine Arts Bldg. Constr.
Journalism Bldg. Constr.
New Sci. Bldg. Constr.
Sprinkler System
Six Small Dorms Constr.
Six Small Dorms Ret.
New Women' s Dorm, #5

  Total Construction


  Total Plant



$   36,401.52
    16, 192.96
    24, 125.00
    100, 290.43
    45,311.77
    22,381.32
    4,486. 77
    16, 196.25
    4, 131.28
    45,552. 36



$



2,668. 75
16,110.09
3, 652. 50
58,971.67
6,286. 25
3,637. 50
3,496. 87
13, 640. 00
3, 060. 00



    14,079.86    12,011.25

$ 329,149.52 $  123,534.88
                        37.



$     230.68 $
    30, 250. 17
    15,911.25
    2,893.75         25.50
    3,697. 19
    2, 156.47
    7, 938.69
    3, 300. 00
    4,443.32
    22,502.60      8,956. 25
    62,730.69
    340,901. 13



$ 496,955.94 $



$  826,105 46



$



$



$ 33, 732. 77
      82. 87
  20, 472. 50
  41,318. 76
  39,025.52
  18, 743. 82
     989. 90
   2, 556. 25
   1,071. 28
   45, 552. 36
   2,068.61

$205,614.64



$



$



  7,543. 75

800, 000. 00



8,981. 75  $807,543.75
       I 4. 3T1o

132,516.63  $807,543.75
       113. 79%76



$    230.68
  30, 250. 17
  15,911. 25
  2, 868. 25
  3,697. 19
  2, 156. 47
  7,938. 69
  3,300. 00
  4,443. 32
  6, 002. 60
  62, 730. 69
  459,098. 87*

$319,0569. 56*


$113,954. 92*



*Expenditures and Encumbrances in excess of approp. or negative figure.




 






8



         University of Kentucky
STATEMENT OF PLANT APPROPRIATIONS
For the Current Fiscal Period which began
July 1, 1953 and ended February 27, 1954


              Plant Funds



Dept.
Approp.



Expendi -
tare s



E nc urn -
brances



Free
Balance



Agr. Experiment Station



Repairs & New Equip.



Subtotal



$102,072.23

$102,072.23



$ 4,934.90

$ 4,934.90
        4. 8 %



$

$



$ 97,137.33

$ 9 7, 137. 33



Combined Total



$928. 177.69



$137,451.53
      1018 1%



$807, 543. 75



$ 16,817.59*



*Expenditures and encumbrances in excess of approp. or negative figure.




 







9



            University of Kentucky
STATEMENT OF OTHER FUND TRANSACTIONS
  For the Current Fiscal Period which began
  July 1, 1954 and ended February 28, 1954



Balance
July 1, 1954



Receiets



Disburse -
ments



Bala-nc e
Feb. 28, 1954



Restricted Funds:
Div. of Colleges
Agr. Exp. Station
Agr. Ext. Division

   Subtotal

Loan Fund:
Prni - ..-..  
Income

   Subtotal

Endowment Funds:
Principal
Income

   Subtotal



$1,965,237.31
   109,578.44
   119,560.28



$1, 574,527. 83
  170,745. 86
  104,373. 10



$2, 194, 376.03 $1, 849,646. 79


$   66,573.61 $       42.40
    27,495.78      1,304.71

$   94,069.39 $    1,347.11


$  201,616.64 $
     2,937.19        175.94

$  204,553.83 $      175.94



$   67,809.24



Combined Totals



$2,560,808.49



$



363,692.27



$2,214,862.11



$1,821,089.42
   122,438.64
   80,439. 21



$1,718,675.72
   157,885.66
   143,494. 17



$2, 023,967. 27 $2, 020, 055. 55


$             $   66,616.01
        25. 19    28, 775. 30

$      25. 19 $   95, 391.31


$             $  201,616.64
        50. 00     3,063. 13

$       50.00 $  204,679.77


$ 372, 145.06 $   59,356.45


$2, 396, 187.52 $2,379,483.08



*Negative figure.




 










                    University of Kentucky
  STATEMENT OF COMBINED RECEIPTS AND EXPENDITURES
           For the Current Fiscal Period which began
           July 1, 1953 and ended February 28, 1954




Receipts and Transfers:



General Income
Plant Income
Restricted Receipts
Loan Fund Receipts
Endowment Ftmd Receipts
Agency Fund Receipts



$6, 662,
   188,
 1, 849,
     1,



39 8. 24
89 7. 00
646. 79
347. 11
175.94



   363, 692. 27

$9, 066, 157. 35



Total Receipts



Expenditures and Transfers (Including Encumbrances):



General Fund Expenditures
Plant Fund Expenditures
Restricted Fund Expenditures
Loan Fund Expenditures
Endowment Fund Expenditures
Agency Fund Expenditures



$4,959, 126.57
   944,995,28
 2, 023,967. 27
        25.19
        50.00
   372, 145.06

$8, 300, 309.37



Total Expenditures




 






14



       Upon motion duly made, seconded and carried, the report was au-
thorized received and made a part of the minutes.



      C. Request for Open Meetings.

      President Donovan submitted a request from Mr. Pope, represent-
ing the Courier-Journal and Louisville Times, that the meetings of the
Board of Trustees and Executive Committee be open meetings, and news-
paper reporters and the public be invited to all meetings. President Don-
ovan read the request.



                   THE COURIER-JOURNAL
                   THE LOUISVILLE TIMES
                        Louisville, Ky.
                        March 1.8, 1954



        Dr. Herman L. Donovan
        President
        University of Kentucky
        Lexington, Kentucky

        Dear Doctor Donovan:

              I' m sure you recall the difficulties we had recently
       in presenting an accurate story about actions of the Board
       of Trustees of the University.  You indicated to Mr. Bing-
       ham later you thought most of the sessions could be open
       to newspapermen.

              Might I make our position in the News Department
       clear on this? I think public spirited citizens who serve on
       such groups sometimes have the feeling that we are prying
       into their stewardship when we want to hear discussion of
       important questions instead of being told the results. I
       have heard it said that The Courier-Journal has a "vested
       interest" in getting material for the paper.

               This is a misunderstanding that hampers the real
       airms of both the paper and the university. What we both
       want is public understanding of and sympathy for the diffi-
       culties and objectives of the board. This can only be
       achieved when we ourselves understand thein.

              Actually, of course, there would probably be no dif-
       ference at all in the sale of newspapers if we covered meet-
       ings of the board rather than reported therm through second-
       hand information. We simply like to do a thorough, informed
       job, and we feel that is to the advantage of the school and the




 






15



       State.

              I mention this now because of the meeting set for
       April 6.  I hope Joe Reister can sit in and cover it.

                                            Sincerely yours,

                                   (Signed)  James Pope

       cc. Mr. Guy A. Huguelet
           Chairman, Executive Committee
           Board of Trustees
           University of Kentucky.


     Members of the Board discussed the letter, and the pros and cons
of public meetings. The members took note that there was not full at-
tendance present, and upon motion duly made, seconded and carried, the
request was taken under advisement and referred to the next meeting of
the Board for further study. No conclusion was reached.



     D. Budget Changes.

     President Donovan submitted list of changes in the University Budget
requesting increases and decreases in appropriations, a net decrease of
$4, 528. 44. He recommended that the changes be approved.

     Upon motion duly made, seconded and carried, budget changes re-
quested were approved, and the Comptroller was authorized to make
the budget adjustments.



     E. Bids for Construction of Girls' Dormitory Received and Accepted.

     President Donovan submitted a letter from the Comptroller reporting
the result of bids taken by the State Department of Finance for the construc-
tion of Women, s Residence Hall No. 5. He read the following letter:



                                       March 31, 1954

    Dr. H. L. Donovan, President
    University of Kentucky

    My dear President Donovan:

       Pursuant to authorization of the Board of Trustees and the State
    Property and Buildings Commission, the State Department of Pur-
    chases advertised for bids for the construction of Women' s Resi-
    dence Hall, Number 5.  This hall is to be financed through the loan




 






16



       from the federal government of $722, 000, a gift from the Keeneland
       Foundation of $200, 000, and the balance to be supplied from earn-
       ings from the Residence Hall accumulated over a period of years.
       Forty bids were received in response to advertisement for construc-
       tion of this building. I list below the firm submitting the low bid
       in each construction classification and the number of bids received
       in each:


       Classification        No. Bids     Low Bid Submitted by     Low Bid
                              Received                             Amount

       General Construction    9        Foster & Creighton Co., $858, 500. 00
                                          Nashville, Tennessee

       Kitchen Equipment        3         Campbell & Phillips,      10, 047. 40
                                          Lexington, Kentucky

       Plumbing, Heating, and
       Ventilating              16        George E. Blanford,      174, 765.00
                                          Louisville, Kentucky

       Electrical               10        Cutter Electric Co.       69, 665. 00
                                          Lexington, Ky.

       Elevators                 2        Martin A. Cedar           39,900.00
                                          Louisville, Ky.


       The low combined bids, which included General Construction; Kitchen
       Equipment; Plumbing; Heating, and Ventilating; Electrical; and Elevators
       were submitted by Clarke, Stewart, and Wood Company, Lexington,
       Kentucky, in the amount of $1, 253, 000. The total of individual bids
       above enumerated amount to $1, 152, 877. 40.

          I, therefore, recommend that approval be given to award contracts
       to the low bidders for each separate phase of construction as enumerat-
       ed above.

                                            Respectfully submitted,

                           (Signed)         Frank D. Peterson
                                            Comptroller



       Tabulation of all bids was available and was examined by members of
the Board.

       Upon motion duly made, seconded and carried, the State Property and
Building Commission and the State Division of Finance were requested to ac-
cept the low bid for the construction of the Woment s Residence Hall, including
plumbing, heating, ventilating, electrical work, elevators and kitchen equip-
ment, for an aggregate amount of $1, 152, 877. 40.




 






17



         F. Wyatt, Grafton and Grafton, Legal Firm, Employed.

         President Donovan stated that he had received a letter from the
Comptroller, advising that it would be necessary to have legal counsel to
prepare bond papers in connection with the issuance of revenue bonds for
$7Z2, 000. 00, to be used toward the construction of the Women' s Residence
Hall.  He read the following letter:


                                             March 16, 1954


        Dr. H. L. Donovan, President
        University of Kentucky

        My dear President Donovan:

            The University has applied to the Housing and Home Finance
        Agency for a loan towards construction of a new women' s dormi-
        tory.  The Housing and Home Finance Agency has approved the
        plans and specifications for the construction of the dormitory;
        and they have entered into a loan agreement to purchase by com-
        petitive bid of $722, 000 revenue bonds at an interest rate of 3. 01.
        The bonds are to mature for a period of 40 years.  We have not
        employed attorneys to do the legal work involved.  The firm of
        Wyatt, Grafton & Grafton has done the legal work in connection
        with our application of loan agreement for the new men' s dormi-
        tory.  The approving opinion was given by Chapman and Cutler,
        bond attorneys of Chicago.

            We should employ an attorney to take care of the legal matters
        incident to the dormitory for women.  I know of no reason why
        Wyatt, C'raf ton & Grafton should not be employed to do this work
        with the understanding that approving opinion be given by Chapman
        and Cutler.  The attorneys request a fee of $3, 000.

                                             Respectfully submitted,

                             (Signed)        Frank D. Peterson
                                             Comptroller



        Members of the Board discussed the legal work involved and the fee
reque sted.

        Upon motion duly made, seconded and carried, the firm of Wyatt,
Grafton & Grafton of Louis"ille, Ky., and Chapman and Cutler, bond attorneys
of Chicago, Illinois, were employed to do all legal work necessary incident
to authorization, issuance, sale and delivery of revenue bonds.




 





18



         G. Studv of Plans and Specifications for Women' s Residence Hall
  No. 4.

         President Donovan read the following communication from the Comptrol-
  ler:


                                                   March 31, 1954


         Dr. H. L. Donovan, President
         University of Kentucky

         My dear President Donovanb

                The firm of Frankel. and Curtis in 1945 and 1946 prepared
         and delivered to the University plans and specifications for a
         Women, s Residence Hall and a central kitchen and dining rooms
         facing Harrison Avenue.  The dormitory is known as Number 4.
         These plans and specifications are eight years old. It will be
         necessary to completely rewrite the specifications and possibly
         make some changes in the drawings.  I am of the opinion that
         another architect should review these plans and specifications
         and make recommendation for alterations and changes to modernize
         plans and specifications and eliminate some of the ornamental and
         expensive designs.  This should involve only a small fee; and,
         in my judgment will result in a saving of not less than $100, 000.
         After we secure the recommendation for changes in design and
         specification, the original architects should be employed to
         render the necessary services.

                                                   Respectfully submitted,

                                      (Signed)     Frank D. Peterson
                                                   Comptroller



        Members of the Board considered the recommendation, and upon mo-
tion duly made, seconded and carried, the President and Comptroller were
authorized to employ competent assistance to study and recommend alteration
of plans and specifications for the Women' s Residence Hall No. 4 which were
prepared some eight years ago.



        H. Study of Permanent Type Building for Married Students and In-
structors Authorized.

        President Donovan stated that he felt the University should study
and consider permanent type apartment buildings t