xt78gt5fbv98 https://exploreuk.uky.edu/dips/xt78gt5fbv98/data/mets.xml Lexington, Kentucky University of Kentucky 19360225 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, 1936-02-feb25-ec. text Minutes of the University of Kentucky Board of Trustees, 1936-02-feb25-ec. 1936 2011 true xt78gt5fbv98 section xt78gt5fbv98

Linutes of the Meeting of the Executive Committee of the Uni-
versity of Kentucky, Tuesday, February 25, 1936.

The Executive Committee of the Board of Trustees of the Uni-
versity of Kentucky met in President MoVey's office at 10:30 a.m.
on February 25, 1936. The members of the Committee present were
Judge Richard C. Stoll, Chairman; Judge Robert G. Gordon, J. B.
Andrews, and R. Miller Holland. President Frank L. McVey and
Secretary D. H. Peak were also present.

1. Minutes Approved.

The minutes of the meeting of the Executive Committee of De-
cember 31, 1936, were approved as published.

2, Financial Report.

The financial report for the month of January, 1936, was
filed an. ordered recorded in the Minutes. The report reads as
follows:

Statement of Income and Expenditures
Month of January 1936

Previously
Reported

General Fund Income
Federal Appropriation 21,375.00
Vocational Ed. Board 10,732.90
Int, on Peabody Endow, 1,000.00
State Appro.-Back Sal, 71,100.00
State Appro.-Sum. Sch. 9,000.00
Special Agr. Appro. 12,750.00
State Appro.-Repairs to
Bldgs. 1,500.04
State Appro.--General 335,675.79
Student Fees 112,962.18
Student Fees - Sum.Sch. 59,074.67
Student Fees - U.H.S. 5,383.50
Student Fees - El.Tr.Sch. 4,220.00
Student Fees - Un.Ext. 10,061.56
_4isc. Receipts 8,897.28
Rentals 1,450.30
Ments Dormitories 8,885.30
Total 674,068.52

Current
Month

Fiscal
Year
to Date

7,125.00 28,500.00
2,239.11 12,972.01
1,000.00
71,100.00
9,000.00
2,000.00 14,750.00

1,201.88
52,028.24
2,158.56
153.50
180.00
60.00
588.03
208.41
225.00
- 504.10
68,671.83

2,701.92
387,704.03
115,120.74
59,228.17
5,563.50
4,280.00
10,649.59
9,105.69
1,675.30
9 .389.40
74'S,740.35

Expenditures
Instruction
Administration, Expense
& Maintenance
Additions & Betterments
Total

376,452.05

122,668.13
_9,868.04
508,988.22

77,292,05 453,744.10

20,877.52
1, 462.14
_99 ,631.71

143,545.65
11,330.18
608. 619. 93

Excess of Income over Ex-
penditures

165,080.30

(30,959.88)

134,120.42

Patterson Hall Income
Board 27,050.16
isc,. Receipts 250.51
Room Rent - Summer School 2,089.00
Total 299, 389.67

Expenditures
Expense
Additions and Betterments
Total

19,415. 59
486.90
19,902.49

Excess of Income over Ex-
penditures 9 487.18

General Fund Income 703,458.19
General Fund Expenditures 528,890.71
Excess of General Fund
Income over Expendi-
tures 174,567.48
Accounts Payable - liqui-
dated (71,191.63)
Excess of Expend. over Re-
ceipts for General Ledger
accounts (79,273,49)
Excess of Receipts over
Expenditures for the
fiscal year to date -
General Fund 24 102_36
Excess of Receipts over Ex-
penditures for the fiscal
year to date - General Fund
Cash in Bank July 1, 1935 - General I
Cash in Bank January 31, 1936 -
General Fund

687.80 27,737.96
4.55 255.06
2,089.00
692.35 30,082.02

4,200.18
60.35
4,260. 5;5

23,615.77
547.25
24,163.02

(3,568.18) 5,919.00

69,364.18 772,822.37
103,892.24 632,782.95

(34,528.06) 140,039.42

(71,191,63)

46,690.52 (32,582.97)

12,162.46 36,264.82

Fund

36,264.82
5,837,75

42 ,102. 57

Experiment Station Income
Hatch- Federal Appro. 7,500.00
Eilk and Butter - Cash Rec.4,852.35
Beef Cattle Sales 1,453.78
Dairy Cattle Sales 535.54
Sheep Sales 222658

7,500,00
890.49 5,742.84
302,92 1,756.70
535.54
315.36 537.94

(30 ,959.88)

Swine Sales 1,359.95
Poultry Sales 1,271.22
Farm Produce Sales 733,87
Horticultural Sales 394.90
Seed Test 383.09
Seed Inspection 6,478.36
Rentals 2,868.01
Miscellaneous 334.65
Fertilizer - Fees 11,056.46
Public Service - State
Appro. 11,570.64
Public Service - Misc. 11.60
Feeding Stuffs - Fees 23,406.86
Adams - Federal Appro. 7,500.00
Serum - Sales 1,101.19
Serum - Virus Sales 95.50
Serum - Live Stock Sales 117.45
Serum - Supply Sales 85.60
Serum - Misc. Receipts 2.35
State Appropriation 29,189.25
Creamery - License Fees 8,247.00
Creamery - Testers' Lic. 2,786.95
Creamery - Glassware
Tested 441.32
Robinson - State Appro. 6,181.31
Robinson - Misc, Rec. 1,493.37
West Ky. - State Appro. 8,777.40
West Ky. - Misc. Rec. 5,851.43
Purnell - Federal Appro.30,000.00
Bankhead-Jones - Fed.
Appro. 9,669.91
Nursery Inspection -
State Appro. 1,450.39
Nursery inspection - Fez 1,140.00
Total 188,564.28

Expenditures
Expense
Add. & Betterments
Total

157,323.43
2,413.24
159,736.67

78.46
272.51
789.80
3.50
90.20
2,082.01
2,144,67
40.64
2,040,00

1,438-.41
1,543,73
1,523.67
398.40
473.29
8,560.37
5,012.68
375.29
13,096.46

871.34 13,441.98
11.60
413.03 28,819.89
7,500.00
125.00 1,226.19
7.35 102.85
117.45
9.75 95.35
2.35
,810.75 33,000.00
43.50 8,290.50
59.00 2,845.95

6.48
1,059.55
273.21
1,175.57
363.52

447.80
7,240.86
1,766.58
9,952.97
6,214.95
30,000.00

5,130.97 14,800.88

115.00

1,450.39
1 .255.00

28,514.58 217,078.86

25,558.02 182,881.45
33.46 2,446.70
25,591.48 185,328.15

Excess of Income over
ExDenditures 21

Accounts Payable - li-
quidated C
Excess of Receipts over
Expenditures for G-eneral
Ledger accounts 1
Excess of Receipts over
Expenditures 4

8,827.61

2,923.10 31,750.71

3,150.32)

(3,150.32)

6,270.81 5,447.78 21,718.59

1,94 IO 8,370,88 50,318.98

Excess of Receipts over Ex-
penditures for the fiscal
year to date - Experiment
Station
Cash in Bank July 1, 1935 -
Experiment Station
Cash in Bank January 31, 1936
Experiment Station

50,318.98

(23.296.47)

27,022.51

Extension Division Income
Federal Bankhead-Jones
Federal Smith-Lever
Federal Add. Co-op.
Federal Supplementary
Federal Capper-Ketcham
State Smith-Lever
County and Other
Total

144,925.05
74,154.38
15,500.00
26,545.52
18,400.49
63,000.00
11,574.10
354,099.54

144,925.05
74,154.58
15,500.00
26,545.52
18,400.49
9,500.00 72,500.00
1,244.36 12,818.46
10,744.36 ;4,843.90

Expenditures
Expense

Excess of Income over Ex-
penditures

254,212.30

99.887.24

53,863.32 308,075,62

(43.118.96) 56.768.28

Excess of Income over Ex-
penditures for the fiscal
year to date - Extension
Division
Cash in Bank July 1, 1935 -
Extension Division
Cash in Bank January 31, 1936
Extension Division

Trust Fund Income
Student Loan Fund
Student Notes Paid
Total Receipts _

Expenditures
Expense
Student Notes
General Ledger accounts
Total Expenditures

Excess of Receipts over Ex-
penditures

Excess of Receipts over Ex-
penditures for the fiscal
year to date - Trust Fund
Cash in Bank July 1, 1935 -
Trust Fund
Cash in Bank January 31, 1936
- Trust Fund

2,938.08
2,064.82
5,002.90

15.00
100.00
5,000.00
5,115.00

(112.10)

181.03
376.26
557.29

557.29

56,768.28

303.82

57 072 .10

3,119.11
2,441,08
5.560.19

15.00
100.00
5,000.00
5,115.00

445.19

1,128.84

1,574.03

w__

Summary
General Fund Income
ExDeriment Station Inc.
Extension Division Inc.
Trust Fund Income
Total

703,458.19
188,564.28
354,099.54
2,938.08
1, 249, 060. 09

69,364.18
28,514.58
10,744.36
181.03
108,804.15

772,822.37
217,078.86
364,845.90
3,119.11
1.357,,864.24

General Fund Expend. 528,890.71
Experiment Sta. Expend. 159,736.67
Extension Div. Expend. 254,212.30
Trust Fund Expenditures 15.00
Total 942.854.68

103,892.24
25,591.48
53,863.32

632,782.95
185,328.15
308,075.62

15.00
183.347.04 1.126.201.72

Excess of Income over Ex-
penditures 306,205.41

(74,542.89)

231,662.52

Accounts Payable - liqui-
dated (74,341.95)

Excess of Expenditures over
Receipts for General
Ledger accounts (68,002.68)

Student Loan Fund Notes

Petty Cash account

1,964.82

(74,341.9,5)

52,138.30

376.26

200.00

Excess of Receipts over Ex-
penditures for the fiscal
year to date - Combined
Fund 166,025.60

(15,864.38)

2s 341.08

200.00

(22,028.33) 143,997.27

Excess of Receipts over Ex-
penditures for the fiscal
year to date - Combined Fund
Cash in Bank and on hand July
1, 1935 - Combined Fund
Cash in Bank and on hand January
31, 1936 - Combined Fund

143,997.27

(14,026.06)

129,971.21

Abstract of item shown on Statement
of Income and Expenditures as "Excess
of Expenditures over Receipts for
General Ledger accounts $15,864.381

Debit
Accounts Receivable
Insurance Paid in Advance 263.51
Sundry accounts 16,280.24
16,543.75
679. 37
15,864.38

Credit
679.37

679.37

3, Out-of-State Travel Expense.

The Business Agent reported the following letter relative to
request for out-of-state expense:

February 14, 1936

M1r. D. H. Peak
University of Kentucky
Lexington, Kentucky

Dear Mr. Peak:
I regret to advise you that the Board of
Public Property at its meeting February 10th concurred
in the opinion of the Attorney General that your request
for travel authorization for a trip to Cleveland, Ohio,
January 20-24 be disapproved.

I quote from the opinion of the Attorney
General, "The requirements of the law are that the per-
sons seeking this right shall be officers or employees
of the State, and that the trip shall be on official bus-
iness, and that it is necessary. Under the previous rul-
ing of the board I feel that this authorization falls in
the list of those disapproved by the board and I, there-
fore, recommend that it be not allowed."

(Signed) Walter W. Mulbry
Secretary to the Governor.

Reference is made to Section 8, Minutes of the Meeting of the
Board of Trustees, January 14, 1936. Although several requests
have been made, no request for out-of-state travel expense has
been reported favorably. In fact, no report has been received
except that on the request of D. V. Terrell which is the one re-
ferred to in letter copied above.

President McVey then stated that he and the Business Agent
had a conference with Attorney General Vincent on February 24,
1936; that General Vincent stated in that conference that he
could not take the responsibility of passing on requests for out-
of-state travel and that he had passed back to the Board of Pub-
lic Property the responsibility of allowance or refusal of such
requests, President McVey stated that he explained to General
Vincent the importance to the University of having members of its
staff attend group meetings and association meetings held in other
states and that he then made the following suggestion as a possi-
ble solution:

That the head of the institution or department make an an-
nual request to the Board of Public Property for allowance of a
sum sufficient to meet all requirements for out-of-state travel
expense; that such sum be set up on the books of the State Audi-
tor; and that the head of the institution or department be allowed
to designate the expense accounts to be charged to the allowance
by the Auditor without further reference to the Board of Public
Property. The Attorney General stated that such a plan seemed
feasible to him and then suggested that President McVey discuss
the question with the members of the Board of Public Property at.
meeting to be held that afternoon. President McVey made known
the facts above stated to Mr. Mul.bry, the Secretary of the Board,
and the latter concurred in the Attorney General's suggestion.
When the Board of Public Property was called to order, President
ioVey and Mr. Peak were invited to appear before it. President
McVey then repeated the suggestion he had made to the Attorney
General, explaining at length the importance of the matter to the
University. The Chairman of the Board of Public Property stated
that expenditures were being looked into very closely on account
of deficiency of revenue, but that the Board would consider the
suggestion and do what it could to assist in the proper solution
of the problem.

4. Allotments of Appropriations.

President McVey presented the following letter showing allot-
ments for month of February:

January 17, 1936

Dr. Frank L. McVey, Pres.,
University of Kentucky
Lexington, Kentucky

Dear Dr. McVey:

The Board of Finance and Budgetary Control, at
its meeting of February 13th, allotted one-fifth
of the unallotted balance of the University of
Kentucky for the month of February.

(Signed) Walter W. Mulbry, Secretary
Board of Finance and Budget-
ary Control

5, Insurance - Fire and Tornado.

The bill relative to fire and tornado insurance on state-
ovmed property,passed at the recent session of the State Legis-
lature, was read in part and discussed. The Business Agent was
directed to consult Sr. Scott of the firm of Klair and Scott rel-
ative to the status of University insurance, and especially to
find out the practical and cheapest way to keep insurance on Uni-
versity property during the interim between expiration of policies
and the period when the new law takes effect. It was stated that
the exceptions in the law quoted as follows: "Provided, that con-
tracts of insurance in force at the effective date of this act
which can not legally be cancelled and any insurance on property
financed under statutory amortization plan, are exempt from this
prohibition during the course of their effectiveness", apply to
insurance carried on the warehouse or service building and the
men's dormitories, all of which are financed by the Security Trust
Company of Lexington, Kentucky, on statutory amortization plan.

6, Interest on Bonds.

President McVey stated that he and the Business Agent had
consulted Attorney General Vincent, as directed in Minutes of De-
cember 17, 1935, in regard to the claim of the University for
amount due and unpaid on statutory bond for land grant funds.
The Attorney General promised to give personal attention to this,
the question to be raised by request to the Auditor of Public Ac-
counts to give the University credit for the amount due and unpaid.

7. Damage to Gymnasium by Blastinl^

In the Minutes of February, March, April and May, 1935, may
be found the history of a claim against the American Mutual Lia-
bility Insurance Company for damage to window lights in the gym-
nasium by reason of blasting done by the Northern Statew Contract-
ing Company.

It now appears from report from Superintendent of Buildings
and Grounds that no further damage is likely to develop.

Report:

March 5, 1936

Mr. D. H. Peak
Business Agent
Re; Claim against Northern States Contract-
ing Co., Covering Glass Breakage,
Dear Mr. Peak: Alumni Gymnasium,
It has been over a year now since these window lights
were broken out from blasting and as far as I can see
no settlement or further damage has occurred as the re-

result of this blasting. I think you should proceed
to collect the amount claimed for broken glass, namely
$l2.60, and credit it to the building.

(Signed) M. J. Crutcher
Supt.

On motion and second the Business Agent was directed to make
settlement on terms originally offered by the American Mutual Li-
ability Insurance Company, that is; to accept $12.60 in full set-
glement of claim of the University.

8. Salaries Paid from Federal Funds - Subject to Income Tax.

President !icVey stated that a ruling given to the University
several years ago by the collector of internal revenue held that
payments to employees from federal funds granted to states and
state schools were not subject to federal income tax. Recently
a rulin- has been made that reverses the former ruling. The sit-
uation is fully set nut in the following notice sent to the Exper-
iment Station and Agricultural Extension employees by Dean Coop-
er:

February 7, 1936

Question has been raised regarding the payment of
income tax on salaries paid from federal funds allotted
to institutions. The statement of the Solicitor of the
Department of Agriculture, in part, is as follows:

"If all or part of the compensation of an offi-
cer otf employee of a state or political subdi-
vision thereof is paid directly or indirectly
by the United States, such compensation (or part)
is taxable, as for example, any compensation
paid by the United States to officers of the Na-
tional Guard of a state, or compensation paid by
a state to officers or employees of an agricul-
tural school or college wholly or partly out of
grants from the United States."

In view of this regulation, question has been raised re-
garding the payment of federal income tax on salaries or parts
of salaries received out of the federal funds allotted to the
experiment stations and extension divisions. Washington of-
ficials submitted to the Solicitor of the Department of Ag-
riculture the question as to vwhether or not, under the Rev-
enue Act now in force, experiment station and extension

10.

workers receiving salary payments from the Hatch, Adams,
Purnell, Bankhead-Jones, Smith-Lever, Capper-Ketcham
funds must pay income tax on the amount so received.
The Solicitor has pronounced himself on the subject as
follows:

"The answer to this question is that, in accord-
ance with the regulations of the Bureau of In-
ternal Revenue which have been issued pursuant
to the said Revenue Act and which you have quoted
in your memorandum, such compensation is taxable
under the Federal Income Tax Law.

"Ytou are quite right in your statement that this
truling' is a complete reversal of that which
formerly obtained under the pronouncement of Mr.
Roper, when he was Commissioner of Internal Rev-
enue in 1919, and of the decision of the United
States Board of Tax Appeals in 1932 in the Sap-
pington case. It is also a complete reversal of
Article 643 of the regulations issued by the Bu-
reau of Internal Revenue pursuant to the Revenue
Act of 1932, wherein it is specifically stated
that such compensation as is described in the new
regulations is not taxable income. In spite of
these former decisions and regulations, however,
the fact is that, in view of the regulations now
in force, such incomes are now taxable and will
continue to be so as long as this regulation
stands."

The ruling applies to salaries paid from the Morrill-Nelson
appropriation, as well as to those paid from other federal appro-
priations.

A letter from A. R. MYann, Chairman of Association of Land
Grant Colleges and Universities, to President McVey suggested
that the University of Kentucky join with other land grant insti-
tutions in a suit to test "the ownership of federal appropriations
to land grant colleges from the standpoint of their liability for
income taxes." Judge Sveinbjorn Johnson, counsel for Univlersi-
ty of Illinois, has been retained ai counsel in the case.

The correspondence was presented to the Executive Committee
and the members of the Committee were of the opinion that the
question involved is a private one for staff members, and that it
is not advisable for the University as an institution to become
a party to the suit,

11.

9. Time Clock - Athletic Field.

Contracts with the Louisville Times for erection of time
clock on Athletic Field and contract of the Louisville Times Com-
pany with the Western Union Telegraph Company for installation
and care of said clock, were presented.

The contracts were received, approved and ordered filed, in
the Business Office.

10. Summer School Fees.

President McVey presented the following communication:

January 13, 1936

President Frank L. McVey
University of Kentucky

liy dear President I.IcVey:

In accordance with my conversation with you this
morning we are entering the following as fees for
the summer session:

$22.75 for all students except the College
of Law.

$27.50 each term for College of Law students
instead of the $31.50 which we have charged
for the past four summers.

If we later have an appropriation from the legis-
lature that will justify lowering the regular fees
we can still do so.

(Signed) Jesse E. Adams
Director.

On motion and second the fees were fixed at amounts set up
in the comrnunication.

12.

11. Geology Truck.

Request of Dr. A. C. McFarlan, head of the Department of
Geology, for purchase of a new truck for use in the department
was presented. He stated that a truck was purchased about six
years ago, and an amount more than sufficient to pay the purchase
price has been turned into the University treasury. (This was
verified by the Business Agent). That truck is now about worn
out. In the opinion of Doctor N4cFarlan it is better and more
economical to trade in the old truck as part payment on the pur-
chase of a new one than to make cash outlay for repairs and upkeep
of the old truck. A new truck will cost about $1300.00. The
income from use of truck is expected in course of time to exceed
the cost.

Due to the present condition of University finances, the mem-
bers of the Committee expressed opinion that an appropriation for
purchase of truck is not advisable at this time, and no action
was taken.

12. Student Loan Fund.

Report of Dean Jones was received and ordered incorporated in
the Minutes:

Report.
February 22, 1936

President Frank L. I.IcVey
University of Kentucky

Dear President McVey:

I am making a brief report on the Student Loan
Fund with certain recommendations.

We have at present invested: In State warrants
- .$4,134.24; in Lexington Water Works bonds - $5,000;
in savings account - $4,000; In cash - $2,091.49.
In addition, there is the Walter Patterson fund of
$5,000. The total in the fund is 821,222.73. In
addition, there is in savings account the Wiley Furd
of $1,000.00.

At the suggestion of Governor A. B. Chandler we
sought assistance of the Attorney General and his Staff
in collecting outstanding debts. General Vincent
designated Mr. J. W. Jones for the work.

13.

We write the letters on stationery of the At-
torney General and deliver the letters to Mr. Jones
who mails them out from Frankfort. We have made a
favorable beginning, having received payments from
ten debtors from whom we had not heard in years.

But from our worst offenders not even the let-
ter of the Attorney General brings any response. I
suggest that a committee be appointed which in co-
operation with the Attorney General shall be author-
ized to bring suits, Some of the debtors I refer
to are Ramey, principal of a school in Johnson County;
McCray, principal in Bourbon County; Ernberg, lawyer
in Richmond and lately government employee, Fortson
in Pvducah, and a number of others.

By the time the Executive Committee next meets
we shall probably have over $7,100 awaiting invest-
ment.

We occasionally make a loan but the NYA takes
care of our cases of real need and we are thus en-
abled to let the loan fund accumulate.

I desire to mention one debt in particular,
that of Miss Mary Elizabeth Stewart of Paris, Ken-
tucky. She borrowed $250 in 1927 and 1928 and has
paid the interest yearly but nothing on the princi-
pal. Her health seems to be impaired and her earn-
ing power is curtailed. The probability is that she
will never be able to pay the debt. Her surety,
Superintendent Lee Kirkpatrick, is greatly hurt in
feeling when we suggest that he pay it. It seems
to me that the loan fund is running a considerable
risk here.

(Signed) T. T. Jones
Dean of Men

13. Report of Athletic Association,

President McVey presented report of the Athletic Association
which was ordered inserted in the minutes:in condensed form:

AA- UNIVERSITY OF KENTUCKY

STATEMENT OF RECEIPTS AND DISBM.SEIENTS FOR MONTH OF
January 1936

Cash Balance - December 31, 1935 .$14,023.31.

Receipts

Basketball *. . 3,219,44
Football Programs 745.80
Football Guarantee .... 1,478,31

Total Receipts ..5443.55
Total Receipts and Cash Balance . . . 191466.86

Total Disbursements........... .6,956.48
Balance ., ...........$2,510,58

Note - First National Bank & Trust Com-
panly.,....... ,7,975.00
Due March 14, 1936.

Audit of Athletic Association by Howard Kroehl & Company.

ATHLETIC COUNCIL - UNIVERSITY OF KENTUCKY
CASH RECEIPTS AND DISBbW EiN%'APVW 'ER ENDING DEC
BALANCE, JANUARY 1, 1935 ........................E.., $
Receipt.s
Students' activities-less refunds.... $17,221.26

Faculty ........
Football ........... e .
Football programs ...................
Basketball ..........................
Basketball tournament ..............
Track ...............................
Tennis ,.....
Shrine dance ........................
Miscellaneous sales and refunds
Federal tax collected (faculty,etc.).
Broadcasting ......................
Total Receipts and Balance ........

2,574.49
73,401.71
2,908.80
9,449.08
5,361.90
350.00
55.00
25.00
203.48
551.40
75.00

I 31, 1935
3,516.05

112,177.12
$115,693.17

ATHLETIC ASSOCIATION

15.

Disbursements:
Football (opponents' share arid other
expense).......................
Basketball (opponents' share and oth
expense),......................
Football programs.
Basketball tournament ..............
Track.
Golf.
Tennis ............................
Rifle range .......................
Conference expense ............
Fixtures and equipment (K.E.R.A. & P
Auditing ...........................
Stationery and supplies ............

Insurance ............
Interest ..............
Taxes .................
Payment on note

Ler

.....:

.W. - . 1

.... a,

Salaries:
Secretary .... ...... . .
Office ........... .
Football coaching staff ...............
Basketball coaching staff ............
Track .................................
Trainer..... ....,.....
Ground Custodian ......................
Gymnasium custodian ...................
Publicity .............................

BALkTCE, DECEIVBER 31, 1935 .................

842,027.54

9,132.89
1,976.57
5,148.08
3,218.34
189.34
547.15
170.54
464.13
) 1,341.60
89.83
538.05
82.89
756.10
5,751.15
25.00
$71,459.20

3,000.00
1,100.00
16,349.92
4,750.00
500.00
2,000.00
1,092.00
900.00
5009.00101,651.12

14,042.05

ACCOUNTED FOR AS FOLLOWS:

First National Bank and Trust Co., Lex-
ington, Kentucky 14..v 4023.31
Due from University of Kentucky . . 8.74
Check of L. G. Forquer, not yet deposited.,. 10.00 14,042.05

14, Grants-in-Aid.

President McVey made a statement relative to grants in aid,
He presented a memorandum showing actual expense for this year to
date and estimate of expense for remainder of the year. The state-
ment also showed the estimated expense for 1936-1937. The state-
ment was received and the situation discussed. The statement ap-
pears as an appendix to these Minutes.

.............
.............
... #........ .
............. .

16.

15. Representative to Harvard Celebration.

Letter from Dr. Jerome D. Green, Director of Harvard Univer-
sity Tercentenary Celebration,in answer to notice of appointment
of a representative to attend the celebration was presented. The.
Executive Committee named President McVey to represent the Uni-
versity in compliance with the request made in Doctor Greents let-
ter.

16. Municipal Lgue Room.

Reference is made to following order in Minutes of December
31, 1935:

The President suggested that the Municipal League
had asked for a room or rooms at the University of Ken-
tucky for offices. The Executive Committee deemed it
inadvisable to permit organizations not connected with
the University work to be housed on the campus and sug-
gested that the President notify the Secretary of the
Milunicipal League that rooms are not available.

It appears that suitable place for the League to move has not
been found, and that the request to remain at the University of
Kentucky has been renewed. No change was made in the order as
copied above, but President McVey was directed to inform Mr. Carl
Wachs, Executive Secretary of the League, that he may continue to
occupy the University rooms a short time until other suitable
quarters are available,

17. Uhiversity Press.

The President of the University called attention to the need
for a University Press. He stressed particularly the importance
of having an agency through which the work of the University,
writings of the members of the staff, alumni and others might firnd
a means of Publication. Under present conditions it would be
difficult, if not impossible, to secure complete freedom of action
because of the restrictions placed upon State printing. He
recommended that a study be made of the matter, that various per-
sons interested in it be brought together to discuss ways and
means of organizing such a press.

18. Enrollment Second Semester,

President McVey stated that the amount of fees for second
semester, 1935-36, is estimated at approximately $113,