xt754746qg48 https://nyx.uky.edu/dips/xt754746qg48/data/mets.xml Lexington, Kentucky University of Kentucky 19530922 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, 1953-09-sep22. text Minutes of the University of Kentucky Board of Trustees, 1953-09-sep22. 1953 2011 true xt754746qg48 section xt754746qg48 


Irregularities




 










       Minutes of the Meeting of the Board of Trustees of the University of Ken-
tucky, September 22, 1953.


      Pursuant to recess of the regular meeting of the Board of Trustees on Sep-
tenmber 15, 1953, the members of the Board met in the Office of the President
Tuesday, September 22, 1953, at 10:00 a. m. , CST, with the following members
present: Governor Lawrence W. Wetherby, Chairman; Harper Gatton, Wendell
P. Butler, Smith D. Broadbent, M. W. Moore, J. C. Everett, Paul M. Basham,
Herndon J. Evans, Mrs. Paul G. Blazer, Carl Dempewolfe, R. P. Hobson,
Ben S. Adams, Thomas A, Ballantine, and Dr. Ralph J. Angelucci. Absent:
Guy A. Huguelet.


      A. Dr. Angelucci New Member,

      Dr. Ralph J. Angeluucci, Lexington, Ky., was present, and presented cer-
tificate of appointment dated July 6, 1953, for a term expiring December 31, 1956.
Dr. Angelucci took the constitutional oath as a member of the Board of Truste es
of the University aid was welcomed to membership on the Board.



      B. Minutes Approved as Published.

      On motion duly made, seconded and carried, the minutes of the Board of
Trustees of June 2, and the minutes of the Executive Committee of July 17, 1953,
were approved as published.



      C. Report of the Comptroller.

      The Comptroller submitted financial report for the months of July and Au-
gust, 1953.




 











UNIVERSITY             oF KENTUCKY


             LEXINGTON



September 21, 1953



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

My dear Doctor Donovan:



I submit herewith a balance sheet of
with statements covering University
ning July 1, 1953, and ended August



University funds as of August 31, 1953, together
fund transactions for the period of two months begin-
31, 1953.



The income received during the period for general and plant fund purposes amounted to
$2, 599, 214. 48, or 34. 86% of the budget estimate of $7, 456, 648. 75.  The sources of
income received are as follows:



General Fund

State Appropriations
Federal Grants
Agency Receipts



Totals



Division
Amount
Received



$1, 002, 500
    84,965
    1.48, 105

$1,235,570



of Colleges

   Budget Est.



31. 9 1%
68. 04%
17. 61%



Agr. Exp. Station
Amount      % of
Received Budget Est.



$232,000
  91, 984
  139, 803



53. 26%
28. 03%
34. 88%



  Agr. Extension
  Arnount   So of
  Received Budget Est

$210,000  33.97%
575.406   52. 05%
      - =



29 73%   $463,787     39.82%    $785,406



45. 57%



The current general fund expenditures and encumbrances for the period totaled $1,317, 029. 55,
which is 16. 47% of departmental appropriations amounting to $7, 994, 647. 32.  The appro-
priations by divisions are as follows:



Division:

Colleges
Agricultural Exp. Station
Agricultural Extension



Budget
Estimate

$4,959,032
1, 268,991
1, 766, 623



Expenditures
to Date

$851, 5 76
193, 826
271, 627



   % of
Budget Estimate

   17. 17%o
   15. 27%
   15. 38%



The appraised value of the University plant and the net investment therein is indicated by
the following statement:




 









Fixed Assets

Land
Buildings
Equipment
Construction in Progress (Student Dormitories - 6)



$ 1, 158, 188. 83
23, 238, 947. 00
  8, 065, 651. 00
    710, 000. 00

$33, 130, 416. 83

  3, 245, 000. 00

$29, 885,416. 83



                To tal
Less -
Revenue Bonds Outstanding



Net Investment in Plant



The schedule below shows bonds outstanding at June 30, 1953, and principal due during
the fiscal year 1953-54:



Bonds
Outstanding



1st P. W. A. Refunding Is sue
2nd P. W. A. Refunding Issue
Dormitory Revenue Issue
Coliseum Revenue Issue
Library & Service Bldg. Rev.
   Issue
Stadium Addition
Journalism Bldg. Rev. Issue
Dormitory Rev. Issue (476 Rose)
Dormitory Rev. Issue (456 Rose)
Dormitory Rev. Issue of 1953



$  305,
   206,
   3 70,
   705,

   415,
   240,
   192,
   72,
   70,
   710,



000. 00
000. 00
000. 00
000. 00

000. 00
000. 00
000. 00
000. 00
000. 00
000. 00



$3, 285, 000. 00



The value of inventories as of June 30, 1953 was
up from the inventories as listed below:



Inventory



Departmental Supplies
Campus Book Store
Caps and Gowns
Stores
Work in Progress



Totals



Principal
Due

$ 31, 000.00
  10, 000. 00
  13, 000. 00
  40, 000. 00

  25, 000. 00
  15, 000. 00
  11, 000. 00
  2, 000. 00
  2, 500. 00



$149, 500. 00



$583,911. 86.



Division of
Colleges

$260, 381.00
  34, 924.93
  4, 664. 65
  188, 566. 00
  42, 636. 28

$531, 172. 86



  Interest
  Due

$ 5,337.50
   6,105.00
   7,3 05. 00
   18,837. 50

   12,572. 50
   7, 275. 00
   5, 280. 00
   2,092. 50
   1,959. 37
   24, 022. 50

$ 90,786.87



This amount was made



Agricultural
Experiment Station

$52, 739. 00



$52, 739. 00



Sincerely yours,



Frank D. Peterson
Comptroller



Bond Issue



Totals




 






University of Kentucky
BALANCE SHEET
As of August 31, 1953

      ASSE TS



Agric ultural
Experiment
  Station



Ag ric ultural
Extension
  Division



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

        Total General

Restricted:
Cash in-sank
Petty Cash Advs.
Due from Other Funds
Investments

        Total Restricted
        Total Current


Unexpended:
Cash inr Bank
Revolv. Funds
Receivables
Unreal. Income

        Total Unexpend.

Investment in Plant:
C onstruction AuthRorized
Fixed Assets

        Total -Invested
        Total -Plant



Other Funds:
Cash in Bank
Notes Receivable
Inve stments
   Total Other Funds
   Total Assets



$    14,352.98 $
     22, 840.32



468, Z78.53
26,996. 06
862, 123.32
28, 560.46
531, 172.86
111, 768.20



103, 140. 62


132, 012. 17
22, 671. 25
279,960.66



$ 418,031.31


   139, 23 5. 70
   11, 727.41



52, 739. 00



  3,190,754.15  700,809.32

$ 5, 256, 846.Ai $1, _,i, 333.02


$   960,055.42$  127,944.92
      5, 187.00      600.00
      30, 000.00
    800, 286.08  15,000.00

$ 1,795,528.50$  143,544.92
$ 7,052,375.38$1,434, 877.94




$ 1, 160,952.82$  102,072.23

     27,629.00

$ 1, 188, 581. 82$  102,072.23


$   710, J00. 00 $
29,372, 375.52 3,048, 041. 31

$30, 082, 375. 52$3, 048, 041. 31
$37(), T T3T$3, 150, 113. 54

    Loan        Endowment


$     9,205.78$    2,973.70
      9,927.09
      75,500.00  201,601.48
$ _  94,632. 87 $ 2049 57S. 18-



938, 241.80



$1, 507, 236.22


$ 108,868.11
     2, 000. 00

     14,948. 00



$  125, 816. 11
$1, 633, 052. 33





d


   $~~~~~~~~~~~~~

$


$




   Agenlcy



$   56, 576.47

    15, 000. 00
$   7 1 576.47



$



535,, 524.91
22,840.32



  739,526.40
  61,394. 72
1,142, 083.98
   28, 560.46
   583,911.86
   111, 768.20
4,829,805.27



$ 8,055,416.12



$ 1,196,868.45
       7, 787. 00
       30, 000.00
     830, 234. 08



$ 2, 064,889. 53
$10, 120,305.65




$ 1, 263, 025.05

     27,629.00

$ 1,290,654.05



$   7 10,000.00
32,420,416.83

$33, 130,416.83
$34, 421, 07U-.88



$    68,755.95
      9,927.09
    292, 101.48
$   3 7 07,M7845
$44, 912, 161.05



Division
of
Colleges



Total




 







2



University of Kentucky
BALANCE SHEE T
As of August 31, 1953

   LIABILITIES



Agricultural
Experiment
Station



Agricultural
Extension
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

Restricted:
Outstanding Checks
Restricted Balance

    Total Restricted
    Current Current

Plant Funds:
Un expended:
Res. forEncumbrances:
Current Year
Prior Year
Retainer Fee
Surplus Funds
Approp. Balance
   Total Unexpended

Investment in Plant:
Bonds Payable
Net Invested
   Total Invested
   Total Plant



Other Funds:
=a ais to hrincipal
Bal. as to Income
    Total Other Funds
    Total Liabilities



$    30, 000. 00 $



242, 192.42
101, 722. 85
531, 172.86
111, 768.20
132, 534. 07



33, 668.61
39, 715. 44
52, 739. 00

90, 044. 23



  4, 107,456.48  1, 075, 165. 74
$ 5,!56b846.88 $1,291, 333. 02


$     6,465.78 $
  1,789,062.72    143,544.92

$ 1, 795, 528.50 $  143,544.92
$ 7, 052, 375.38 $ 1, 434, 87 7.94





$    13, 875. 27 $  5, 785. 00
    456. 294.03
    21, 239.21
      6,389. 79
    690, 783.52    96, 287.23
$ 1,188, 581. 82 $  102, 072. 23


$ 3, 245, 000. 00 $
26, 837, 375.52  3,048, 041.31
$30, 082, 375. 52 $3,048, 041. 31
$31, 270,957.34 $7,1S0,113.54

    Loan         Endowment


$    66, 616.01 $ Z01, 616.64
     28, 016. 86    2,958. 54
$    94, 632. 87 $ 204, 575. 18



$



   9, 036.72


   3, 203.95
1,494, 995.55



$.   30, 000. 00



  275, 861. 03
  150,475. 01
  583,911. 86
  111, 768.20
  225,782,25
6,677,617. 77



$1,507, 236.22  $ 8,055,416.12


$              $     6,465.78
$  125,816.11   2,058,423.75

$  125,816.11  $ 2,064,889.53
$1, 633,052.33  $10, 120,305. 65





$              $    19,660.27
                   456, 294.03
                   21,239. 21
                     6,389. 79
                   787, 070. 75
$  '     ~     $ 1,2-90,6549.05


$              $ 3,245,000.00
                29,885,416. 83
___        ----$33, 130, 416. 83
$ _            $34,421,070.88

   Agency


$              $   268,232.65
    71, 576.47     102,551.87
$   71, 576.47 $   370,784.52
               $44,912, 161. 05



Division
of
Colleges



To tal




 





3



         University of Kentucky
STATEMENT OF UNREALIZED INCOME
For the Current Fiscal Period which began
July 1, 1953 and ended August 31, 1953

             General Fund



Budget
E s timate



Division of Colleges:
Educational and General:
State Appropriations
Federal Grants (through the State)
Student Fees
Endowment Ineome
Sales and Services and Rentals



$3, 141, 783.50
   124, 879.10
   687, 800. 00
     9,644.50
     18, 700.00



Realized
to Date



$1,002,500.00
    84,965. 60
    132, 513.40
    9, 200.00
    6,391.82



Unrealized
Balance



$2, 139,283. 50
    39, 9 13. 50
    555,286.60
       444, 50
    12,_308. 18



$3,982,807.10



$1,235, 570. 82
    31. 027O



$2, 747, 236. 28



Auxiliary Enterprises:
Residence Halls
Miscellaneous

        Subtotal

        Total -Colleges

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 Appropriatpions
Federal Grants (direct)

        Total -Agricultural Extension

        Total General


Plant Fund-
Cenecral ncome Allocated
Stores Overhead
        Total -Plant

        Combined Total



$ 3 59, 132.00
   198, 835. 12

$ 5 57,967. 12

$4, 540, 774.22



$ 188,897.00

$4,351,877.22



$ 435,600.00
   328, 137. 02
   400, 860. 00

$1, 164, 597.02



$ 618,200.00
1,105,448.51

$1,723,648.51

$7,240, 122. 75



$ 188,897.00
    27,629.00
$ 216,526.00

$7,456,648 75



$   30, 597.29  $ 328,534.71
    83, 851.96    1 14, 983. 16



$  114,449.25
    20. 51Yo u
$1,350,020.07
    29. 7307o
$ 188,897.00

$1,161,123.07
    26. 6807o


$ 232,000.00
    91,984.25
    139,803.45



$ 463,787.70
    39. 82%7o


$  210, 000. 00
   575, 406. 71



$  785, 406. 71
     45. 57-/o
$2,410, 317. 48
    33. 290Zo


$  188,897.00



$  188, 89 97.00
    -87. 244-
$2, 599, 214. 48
    34. 867-



$  443,517.87

$3,190,754.15



$3, 190,754.15



$ 203,600.00
   236,152.77
   261, 056.55

$ 700,809.32



$ 408,ZOO.00
   530, 041.80

$ 938,241.80

$4, 829, 805.27



$
    27,629.00
$   247,434270

$4,857, 434.2Z7



Subtotal




 






4



              University of Kentucky
STATEMENT OF DEPARTMENTAL APPROPRIATIONS
     For the Current Fiscal Period which began
       July 1, 1953 and ended August 31, 1953

                  General Fund



Depart.
Approp.



Expendi -
ture s



Encum -
brances



Approp.
Balances



Division of Colleges:
Adm. and General Expense:
General Adm. Offices   $
Student Welfare
General Expense
     Subtotal            T



212, 204.
68, 753.
165 ,660.
7446,Fr7



5 5 $
78
04
$7i



31,519.83    $ 2,499. 2 0
10, 122, 1.0    1,005. 70
24,492. 04     10,974. 51
66, 133.97   $ 14,4 7 .T
        18. 0 5%o



$  178, 185. 52
    57, 625.98
    130, 193.49
$  366,n004.99



Instruction and Research:
College of:
  Arts and Sciences
  Enginee ring
  Commerce
  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.
   Subtotal



$1,439,417.
   362, 798.
   190,980.
   264, 974.
   75, 756.
   330, 072.
   81, 428.
     9, 237.
     20, 000.
   250, 851.
   126, 215.
   26, 640.



99 $ 190,
00  50,
40  28,
76  32,
34  9,
91 44,
00  5,
00   1,
00
94  42,
90  19,
00   3,



903.96
344. 80
414. 89
265. 30
973. 80
299. 99
561. 78
716. 07
967. 15
847.92
785. 21
234. 26



$ 3, 178, 373. 24 $4O0,315.13




$  755, 220. 00$ 74,966. 87
    70,000.00   8,961.98
    25,000.00   9,113.47
    55,000.00   9,581.76
$ 905, 220. 00$ 83 460.56



$
$



303, 332.
125, 488.



  $
43$
00



25, 39 0.94
4, 082. 54



$ -428, $.-j 7T9,473T.4

$4,959, 032. 04 $609, 383. 14



    $ 29,153.63
       6, 810. 65
         502. 37
       1,464. 76
           24. 60
       5, 795. 61
       3,897. 12
         484. 72
       4, 173.90
       4, 222. 44
         552. 84
       2,919. 95
    $; 60,002-.759-
15.43%



    $ 96,016.56
       13, 281. 24

)*

21. 29570



    $
    $ 58,397.62
           15. 00
  s$ 58, 412=.6
19. 8676W0
    $242, 192.42
17. 17%7



$1, 219,360.40
   305,642.55
   162, 063.14
   231, 244.70
   65, 757.94
   279,977.31
   71,969. 10
     7, 036.21
     14. 858.95
   203, 781.58
   105, 877.85
   20,485. 79
$2,688, 055. 52




$ 584,236. 57
    47, 756.78
    15, 886.53
    64,581.76
; 712,461.64



$
$ 219,543.87
   121, 390.46
$4 3140,456.48

$4, 107,456. 48



* Negative number



Auxiliarv Enterprises:
Residence Halls
Miscellaneous
   Subtotal

   Total-Colleges




 






5



              University of Kentucky
STATEMENT OF DEPARTMENTAL APPROPRIATIONS
     For the Current Fiscal Period which began
     July 1, 1953 and ended August 31, 1953


                  General Fund



Depart.
Approp.



Expendi -
ture s



Enc um -
brances



Approp.
Balances



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

Total-Agricultural Ex-
   periment Station



$ 166, 178. 85
   148,954. 03
   7Z, 176. 00
   51,494. 00
   9, 291. 00
   67, 749. 00



$ 10,932.66
22, 854. 06
10,476.69
  7, 5 84. 99
  1,255. 55
  9, 527. 54



    93,830.00  13,174. 95
    136,663.00  20,249. 15
    160, 000. 00  14,391. 35
    18, 100. 00  2,629. 18
    44, 180.00  6,942.60
    35, 136. 00  4,778. 86
    28,650.02  2,610.98
    32,300. 00  4,725.95
    6,900.00   1,015.58
    22,400.00  2,971.32
    32, 242.00  4,741. 13
    7,000.00  1,116.50
    33,000.00  3,525.44
    39,008.00  4,821.60
                1,649.53
    54, 400. 00  6,438. 06
    9,340.00   1,743.85


$1,268,991.87$160, 157.52



$ 2, 883.25
    967. 79
    384.41


  2, 120. 20

  4, 137.00

  16, 480. 14
     22. 82
     96. 40
     409. 92
     72. 50
     80. 50

  1, 159. 00


     45. 00
  2, 582. 72

  2, 276. 96



$33,668.61



$ 152, 362.94
   125, 132. 15
   61, 314. 90
   43, 909. 01
   8, 035. 45
   56, 101.26

   76, 518. 05
   116,413. 85
   129, 128.51
   15, 448. 00
   37, 141.00
   29,947. 22
   26, 016. 55
   27, 493. 55
     5, 884. 42
     18, 269.68
     27, 500. 87
     5, 883. 50
     29, 429. 56
     31, 603.68
     1, 649. 53*
   45, 684. 98
     7, 596. 15



$1, 075, 165. 74



15. 27%



*Negative Number.




 







6



               University of Kentucky
STATEMENT OF DEPARTMENTAL APPROPRIATIONS
     For the Current Fiscal Period whichbegan
       July 1, 1953 and ended August 31, 1953


                   General Fund



Depart.
Approp.



Expendi -
ture s



Encum-
brances



Approp.
Balances



Agr. Extension Division:
Administration
Agr. Engineering
Agronomy
Animal Husbandry
C lothing
County Agents
Dairy
Farm and Home Conven.
Farm Management
Fore stry
Foods
Home Dem. Agents
Home Management
Horticulture
Junior Clubs
Markets
Poultry
Publications
Public Information
Rural Sociology
Black Shank
Social Security
Miscellaneous
   Total -Agricultural
     Extension Div.



$   41,692.00
    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
    21, 000. 00



  5,973. 67
  3, 748.74
  5, 450.45
  4, 287. 13
  1, 860.88
128, 610. 49
3,645.31



   878.49
 1, 744.16
77, 532.94
3,872.59
3,037.83
12, 563. 66
5,588. 51
2, 733. 73



6,316.22
920.48
2,471.73
  390.85



     3,605, 00

$1,766,623.41$ 271,627.86



$



$   35,718.33
    25, 711.26
    28, 201. 24
    19,910.87
    10, 739. 12
    687,317.98
    23, 703. 69
    1,500.00



10,057.51
  9,967.84
422, 825.23
26, 611.41
15, 831. 17
66, 877. 34
24, 564. 49
14, 276. 27



44, 674. 86
4, 764. 52
18, 528. 27
   390. 85*
 3,605.00



$



$1,494,995.55



15. 38%



Combined Total



$7,994,647. 32$1,



041, 168.52



$275,861, 03



$6,677, 617. 77



16. 47%o



*Negative number.




 






7



          University of Kentucky
STATEMENT OF PLANT APPROPRIATIONS
For the Current Fiscal Period which began
  July 1, 1953 and ended August 31, 1953



Dept.
Approp.



Plant Funds

   Exp endi -
   ture s



Encum -
brance s



Free
Balance



Division of Colleges:

  P. W. A. First Bond Issue
  P. W. A. Second Bond Is.
  Dorm. Revenue Fund
  Audit. Field House Is-
       sue
 Lib. & Serv. Bldg. Is.
 Stadium Rev. Bond Issue
 Rose St. Dorm Issue
 Chi Omega, 456 Rose St.
 Jour. Bldg. Bond Issue
 Rose St. Dorm Issue
 Alpha Delta Pi, 276 Rose
       St.
 Dorm. Rev. Bond, A, B, C,
       D, E, F.
 Lib. & Serv. Bldg.
       Re s.



$ 36, 401. 52
  16, 192.96
  24, 125. 00

  100, 290.43
  45,311.77
  22, 381. 32
  4,486. 77



$



$



$ 36,401. 52
  16, 192. 96
  24, 125. 00



49, 782. 21



50, 508. 22
45,311.77
22, 381. 32
4,486. 77



16, 196. 25
4, 131. 28



16, 196. 25
4, 131. 28



2, 068. 61



2, 068. 61



17, 923. 36



$289,509. 27



$ 49,782. 21



  17, 923. 36

$239, 727. 06



$



Total Bond Issues



Dicker House Annuity   $    230. 68
Coliseum-Field House     30, 250. 17
Norwood Hall-Fire
      Loss               15,911.25
Men, s New Dormitory      3, 000. 00
Service Bldg.             3,697.19
Fine Arts Bldg.           2, 156.47
Journalism Bldg.          7,938. 69
New Science Building      3, 300. 00
Sprinkler System          4,443. 32
Six Small Dorms.         34, 513. 85
Six Small Dorms. Ret. Fund 21, 239. 21
Women, s New Dorm. #5    340,901. 13

Total Construction     $467, 581. 96

  PLANT TOTAL         $757, 091. 23



$



$



25. 50



   13, 875. 27



 $ 13, 875. 27

 $ 13, 875.27
2     g0



2, 624. 73



$ 2, 650. 23

$ 52,432.44
           14.



$    230. 68
  30, 250. 17

  15,9 11. 25
  2,974. 50
  3, 69 7. 19
  2, 156. 47
  7, 938. 69
  3, 300. 00
  4,443. 32
  18, 013.85
  21, 239. 21
  340,901. 13

$451,056.46

$690, 783. 52




 






8



EXPERIMENT STATION PLANT



Depart.
Approp.



Expendi -
ture s



Encum-
brance s



Free
Balance



Account Title

Repairs & New Equipment   $102, 072. 23  $



Total



$102,072. 23



$ 5, 785. 00



$



$ 5,785.00



67%



$ 96,287.23



$ 96,287.23



Combined Totals



$859, 163.46



$ 52,432.44



$ 19, 660. 27
         8. 39%



$787,070. 75




 






9



           University of Kentucky
STATEMENT OF OTHER FUND TRANSACTIONS
  For the Current Fiscal Period which began
    July 1, 1953 and ended August 31, 1953



Balance      Receipts
July 1, 1953



Disburse -
ments



Balanc e
August 31, 1952



Restricted Funds:
Div. of Colleges
Agr. Experiment Station
Agr. Extension Division



   Subtotal

Loan Fund:
Princ ipal
Income

   Subtotal

Endowment Funds:
Principal
Inc ome



Subtotal



$1,965,237.31
   109,578.44
   119,560. 28



$200,070. 28
57,311.73
26,768. 29



$2, 194, 376. 03$284, 150. 30


$   66,573.61 $  42. 40
    27,495. 78   539. 52

$  94,069.39$  581.92


$ 201,616.64$
     2,937.19      21.35

$ 204, 553. 83$  21.35



$376,244.87
  23,345.25
  20, 512.46

$420,102.58


$
      18.44

$ 18.44


$



$



$1,789,062.72
   143,544.92
   125,816.11

$2, 058,423. 75


$   66,616.01
    28,016.86

$   94,632.87



$ 201,616.64
     2,958. 54

$ 204, 575. 18



$   67, 809. 24$ 82,051.69



$ 78,284.46

$498,405.48



$2, 560, 808.49 $366, 805. 26



Agency Funds:
Balances



71, 576.47



Combined Totals



$2, 429, 208. 27




 






10



                              University of Kentucky
             STATEMENT OF COMBINED RECEIPTS AND EXPENDITURES
                      For the Current Fiscal Period which began
                      July 1, 1953 and ended August 31, 1953


Receipts and Transfers:



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



$2, 410, 317. 48
   188, 897. 00
   284, 150. 30
       581. 92
       21. 35
    82, 051. 69

$2, 966, 019. 74



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



$1, 317, 029.55
    72, 092. 71
    420, 102.58
        18. 44



78, 284. 46



Total Expenditures



$1,887,527.74




 






14



       The Comptroller stated that the above report gave the financial condition
covering University fund transactions for the period of two months, beginning
July 1, 1953. The report was examined in some detail, and upon motion duly
made, seconded and carried, was authorized received and made a part of the
minute s.



       D. Budget Changes.

       President Donovan submitted a list of changes in the University budget
 which had been authorized by Form 26, Payroll Change- -Budget Transfer, through
 July, 1953, which revealed increases and decreases in the budgets of the various
 departments.  He stated that the net decrease in all budgets amounted to $9, 646. 66.
 He also submitted list of changes under date of September 1, 1953, which had been
 authorized by approved Form 26.  He listed decreases and increases in appropri-
 ated funds and stated that the net decrease amounted to $1, 972. 36.

       President Donovan stated that he had approved these budget changes and
recommended that same be authorized.

       Upon motion duly made, seconded and carried, the budget changes were
authorized made, and the lists were ordered filed with the Secretary of the
Board,



      E. Purchases of the Comptroller Approved.

      President Donovan submitted list of state requisitions, advices of emergen-
cy purchases, special purchase orders and departmental purchases which have
been made by the Comptrollers s Office, He stated that the list was being sub-
mitted for ratification by the Board, and that the approved documents were on
file, available for inspection. The following letter was read:



                                                      July Z2, 1953

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

      My dear President DoTIovan:

          I submit a list of state requisitions, advices of emergency pur-
      chases, special purchase orders and departmental purchases which
      have been made by the purchasing division from April 1, 1953,
      through June 30, 1953, yet to be approved by the Board of Trustees.
      The listing below gives the numbers of the documents requesting
      the purchase or actually issued as purchase orders, which documents
      are made a part of this record and are held in the Office of the
      Comptroller subject to inspection, The purchases have been made
      on properly drawn documents at the request of the various departments
      and have been charged against available funds,




 







15



               State Requisitions numbered   664 through 899
               Emergencies                     343 through 496
               University D Orders             5527-5560 (850-866)
               Special Orders                  3417 through 4550.

       The foregoing record of purchases is respectfully submitted with
   the request that they be approved by the Board of Trustees, thereby
   ratifying the action of the Comptroller in making the purchases.

                                               Respectfully submitted

                                (Signed)       Frank D. Peterson,
                                               Comptroller.


       Upon motion duly made, seconded and carried,

               State Requisitions numbered   664 through 899
               Emergencies                     343 through 496
               University D Orders             5527-5560 (850-866)
               Special Orders                  3417 through 4550

were authorized approved and ratified.



       F. A Word of Appreciation to Trustees,

       President Donovan briefly recalled his illness and convalescence in hos-
pitals in Chicago and Lexington, and reported his recovery. He thanked the
members of the Board for their letters, gifts, and expressions of sympathy and
good wishes. He expressed pleasure at being able to be back on the job.

       Members of the Committee expressed their delight at his recovery.



       G. Contract--Construction of Men, s Residence Hall.

       President Donovan submitted tabulation of bids for the University of Ken-
tucky residence hall for men and central kitchen and dining hall.  He stated
that a good response was received from the invitation for bids for the construc -
tion of the building. He submitted five bids representing (1) the general con-
tract; (2) plumbing, heating and ventilation; (3) electrical; (4) elevators; and
(5) kitchen equipment,  These five bids totaled $1, 381, 088 37.  This is the
lowest combination of bids.  He stated that, in the opinion of the Architect,
the Comptroller and the President, they represent the lowest and best bids.
He recommended that authorization be given to accept these bids and authorize
the contract executed,




 







16



      The President stated that the amount of these bids represents a construc-
tion cost of $1. 00 per cubic foot, which was less than had been anticipated.
Other costs, Including government expense, interest on bond issue during con-
struction, plans and specifications, re-design of building, supervision, non-
fixed furniture and fixtures, et cetera, would increase the cost to approximately
$1. 23 per cubic foot, when completed.

      He further reported that the State Property and Building Commission
had allotted from state funds the sum of $500, 000, 00 towards construction of
this building. Pursuant to authorization of the Board, loan agreement had been
made with the Housing and Home Finance Agency for loan of $1,400, 000. 00, and
a total of $1, 900, 000., 00 was available, The Comptroller submitted the fig-
ures to indicate that the completed building would cost $1, 710, 000. 009 and stated
that, after this building was constructed, there wodd probably be available a
balance of about $190, 000. 00 which might be used for other construction work.
A statement was made concerning the opening of the bids, tabulation and review
by the Assistant District Engineer representing the Housing and Home Finance
Agency of the Federal Government.

      The members being advised, upon motion duly made, seconded and carried,
the Board authorized contracts awarded to

      Foster-Creighton Construction Company, Nashville,
              Tennessee   ,            v ,e. ..... e.,...,,..    $1,048,500.00

     Plumbing, Heating & Ventilation, George Pridemore
              & Son, Lexington, Ky.      ......... e  ......        182, 096. 00

     Electrical Contract, Cutter Electric Company. Lexington,
              KyO   OO QsoV  .Q t t Q e u  t. iO nJO .    . .70,800.00

     Elevator Contract, Murphy Electric Company, Louisville,
              Kyv       ....OQODQut.O.Oo                  f           1 0,78 5.0 0

     Kitchen Equipment, Heilbron, Inc, , Lexington, Ky. .....   68, 907. 37


                                                      Total      $1,381,088.37


     H. Sale of Unive  yof Kentucky Dormitory Revenue Bonds.

     President Donovan stated that the University had an agreement with the
Housing and Home Finance Agency to purchase "University of Kentucky Dormi-
tory Revenue Bonds of 19520" These bonds, in the principal amount of
$1, 400, 000. 00 are to run for a period of 40 years and bear an interest rate of
3. 01 per centum per annum,  The agreement provided that the bonds would be
offered at public sale and, if a bid of 3. 11 or better was received, the sale
was to be made to such bidders, However, if no bid was received equalling
or bettering the above interest rate, then in that event the Housing and Home
Finance Agency would accept purchase of the bonds as stated above,  Sale
was advertised in the Daily Bond B rof New York and The Courier.-Journal,
Louisville, Ky.




 







17



      Bids were received in the office of the Secretary of the Board of Trus-
tees in the University until the hour of 1000 a, m. , CST, September 15, 1953.

      He stated that the Housing and Home Finance Agency, Washington, D. C.,
submitted a bid of par at an interest rate of 3. 01 per centum per annum, and
recommended that the bid  )e accepted.

      Motion was made by Harper Gatton and seconded by J. C. Everett.  The
following Resolution was unanimously adopted-


              A RESOLUTION OF THE BOARD OF TRUSTEES OF
      THE UNIVERSITY OF KENTTT.TCKY, ACCEPTING THE BEST BID
      RECEIVED FOR $1,400, 000 00 "UNIVERSITY OF KENTUCKY
      DORMITORY REVENUE BONDS OF 195Z" AND ESTABLISHING
      THE INTEREST COUPON RATES APPLICABLE THERETO.

      WHEREAS, the Executive Committee of the Board of Trustees has here-
tofore, on November 7, 1952, adopted a formal resolution authorizing and pro-
viding for the issuance of One Million Four Hundred Thousand Dollars
($1, 400, 000 00) principal amount of "University of Kentucky Dormitory Revenue
Bonds of 1952" to be dated as of July 1, 1952, and to mature serially on July 1
in each of the years 1955 to 1992, inclusive; and

     WHEREAS, the sale of said bonds has been advertised by the publication
of a "'Notice of Sale of Bonds" on August 27, 1953, in The Bond Buyer, New York
City, and in the Courier-Journal, Louisville, Krntucky; bids to be received
until the 15th day of September, 1953, at the hour of 10^00 A. Me , CST; and

     WXIHEREAS, the Secretary has reported to the Board of Trustees that the
only bid received in the office of the Comptroller prior to 10:00 A. M. , CST,
on September 15, 1953, was that of Housing and Home Finance Agency, an
agency of the United Scates Cove: -e .. offering $1,400, O. 00 for the entire
bond issue, upon condition that all bonds be caused to bear interest at a coupon
rate of 3. 01o per annum, and

     WHEREAS, said bid h.ns been considered and is deemed by the Board of
Trustees to be advantageous,

     NOW` THEREFORE, THE BOARD OF TRUSTEES OF THE UNIVERSITY
OF KENTUCKY HEREBY RESOLVES AS FOLLOWS,

     Section 1, That it appears to the Board of Trustees that the bid of Hous-
ing and Home Finance Agency for the purchasing of $1, 400, 000 00 principal
amount of "University of Kentucky Dormitory Revenue Bonds of 1952" at a price
of $1, 400, 000 00 and accrued interest to delivery upon condition that all of
such bonds be caused to bear in