xt7b2r3nwb6t https://exploreuk.uky.edu/dips/xt7b2r3nwb6t/data/mets.xml Lexington, Kentucky University of Kentucky 19520816 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, 1952-08-sep16. text Minutes of the University of Kentucky Board of Trustees, 1952-08-sep16. 1952 2011 true xt7b2r3nwb6t section xt7b2r3nwb6t Irregularities Minutes of the Meeting of the Board of Trustees of the University of Kentucky, September 16, 1952. The Board of Trustees of the University of Kentucky met in the President's Office at 10:15 a. m. , Tuesday, September 16, 1952. The following members were present: Governor Lawrence W. Wetherby, Chairman: Guy A. Huguelet, Mrs. Paul G. Blazer, Harper Gatton, Paul M. Basham, Wendell P. Butler, Herndon J. Evans, R. P. Hobson, H. D. Palmore, Ben S. Adams, Thomas A. Ballantine, M. W. Moore and Smith D. Broadbent, Jr. Absent: John C. Everett and Carl Dempewolfe. President H. L. Donovan and Secretary Frank D. Peterson met with the Board. A. New Members. The terms of George M. Cheek, Frankfort, Ky., Dr. W. M. Coffee, LaCenter, Ky., and J. Woodford Howard, Prestonsburg, Ky., having expired, Governor Weth- erby having made appointments, the following new members presented commissions for a term to expire December 31, 1955, and took the oath of office: Thomas A. Ballantine, Louisville, Ky., Smith D. Broadbent, Jr., Cobb, Ky., and M. W. Moore, Covington, Ky. The new members were welcomed to membership on the Board. B. Approval of Minutes. On motion duly made, seconded and carried, the minutes of the Board of Trustees of June 3, 1952, and of the Executive Committee of July 18, 1952, were approved as published. C. Comptroller's Report. The Comptroller submitted the following summarized statement, balance sheet, and statement of income and expenditures for the months of July and August, 1952. The summarized statement also contained detailed information concerning existing revenue bond issues, UNIVERSITY OF KENTUCKY LEXINGTON September 12, 1952 Dr. H. L. Donovan, President University of Kentucky Lexington, Kentucky My dear Doctor Donovan: I submit herewith the balance sheet and related summaries covering UniC- versity fund transactions for the period ended August 31, 1952-. University income realized during the period amounted to $2,346,061.21. This amount was 31.72% of the budget estimate of $7,395,622.76. There has been disbursed and encumbered against the general funds a total of $1,204,005.68 or 16.17% of the appropriations totaling $7,445,342.33. Plant fund expenditures totaled $58,870.85 which is 15.47% of the plant appropriations totaling $380,667.12. During the period of January 1, 1936 to August 31, 1?52, the Univer- sity of Kentucky has issued bond issues in the amount of $3,345,500.00 toward the cost of new buildings. The amount of principal on bonds paid for this period was $666,000.00, leaving principal on bonds outstanding in the amount of $2,679,500.00. Analysis of each bond issue is shown as follows: Bond Issue Date Amount Issued of Bonds Issued Principal Paid Amount of Bonds Out- standin2 lst P.W.A. Refunding Issue (Engineering Quadrangle Student Union Bldg. Central Heating Plant Lafferty Hall 1/1/36 $ 634,000.00 $ 298,000.00 $ 336,ooo.oo 2nd P.W.A. Issue Jewell Hall Funkhouser Biol.Sci.BLdg. Home Economics Bldg. Bowman Hall Issue Coliseum Issue 9/1/38 316,000.00 6/1/45 430,000.00 8/1/48 800,000.00 4/1/49 490,000.00 105,000.00 47,000.00 95,000.00 211,000.00 383,000.00 705,000.00 Lib. & Service Bldg.Issue 50,000-00 44oooo.oo Page 2 (Continued) Bond Issue Stadium Addition Issue Journalism Bldg. Issue Dormitory Issue - 476 Rose Street Dormitory Issue - 456 Rose Street Totals Date Amount Issued of Bonds Issued 4/1/49 $ 300,000.-00 $ 1/i/50 225,000.00 12/1/50 76, 000.00 Principal Paid 45,000.00 $ 22,000.00 2,000.00 Amount of Bonds Out- standing 255,000.00 203,000.00 74,000.00 74,500.00 2,000.00 72,500.00 $3,345,500.00 $ 6662000.00 $2,679,500.00 Respectfully submitted, Frank D. Peterson Comptroller. University of Kentucky BALANCE SHEET As of August 31, 1952 ASSETS Agricultural Experiment Station Agricultural Extension Division Current Funds: General: Cash in Bank Petty Cash Advs. State Allotments: Current Year Prior Year Revolving Funds Receivables Inventornes Deferred Chgs. Unreal. Income Total Gen. $ 23,893.39 16, 895 87 493,918.03 11,571.66 1,021 , 119.19 23, 383.29 569,430.61 111, 768.20 3, 133, 630. 1 $ 5,405,610.39 $ 61,130,68 174,327.28 30,181.13 322,762.54 62,115.00 863 791.30 $1,514 ,307.93 $ 380,421.75 122,295.95 1, 026. 24.23 I 1, 529, 2 1.G03 $ 465,445.82 16,895.87 790,540.36 41,752 .79 1,343, 881.73 23, 383.29 631, 545.61 111, 768.20 5,023,945.68 78, 449, 159. 35 Restricted: Cash in Bank Due from Other Funds Petty Cash Advs. Investments Total Restrictec Total Current Plant Funds: Unexpended: Revolv. Funds Unreal. Income Total Unexpend. $ 842,814.57 30, 000. 00 9,258.90 688,303.49 1$ 1570,376.96 $ 6,9755987435 $ 316, 558.44 25,615.87 $77 342, 174 .31 Investment in Plant: Fixed Assets 28 897, 52..43 Total Invested 2 897, 525.3 Total Plant 292239, 699.74 Loan Other Funds: Cash in Bank $ 3,499 56 Notes Receiv. 9,372.55 Investments 75,500 00 Total Oth.Funds .311 Total Assets $ 79,716.76 400. 00 15,000. 0 1 95.116.76 ;1 ,t09 ,424 .69 $ 41,095.23 $ 41,095.23 2,882,831.31 2, -I2,831.31 .2,923,926.-54 Endowment $ 3,484.09 119, 581. 96 $ 102,901.11 1,096.10 14, 948.00 . 118,945.21 $ 1,648,186.24 $ .II .I $ 1,025,432.44 30,000.00 10, 755-00 718 251.49 ; 1.784.438.93 10,233, 598.28 $ 357,653.67 25,615.87 383 269.54 31,780,356.74 31 , I7 0,356.74 ;32, 163, 626.28 Agency $ 60,636.44 i5,000. 00 $ 67,620.09 9,372 .55 290,081.96 h- 367, O74jT0 _ 42 764,299 .16 Division of Colleges Total 2 University of Kentucky BALANCE SHEET As of August 31, 1952 LIABILITIES Agricultural Experiment Station Agricultural Extension Division Current Funds: General: Petty Cash Liabil.$ Res.for Encumb. Current Year Prior Year Res.for Inventories Due to Other Funds Other Liabilities Unapprop. Surplus Approp. Bals. Total General E Restricted: Outstand.Cks. $ Restr. Bals. Total Restr. Total Current Plant Funds: Unexpended: Res. for Encumb.: Prior Year Surplus Funds Approp. Bals. Total Unexp. 195,283.81 118,713.22 569,430.61 30,000.00 111,768.2 0 731.976.26 3,661,542.42 5,405,610.39 6,466.19 1.,563,910.77 1 R-70,376.96 5,975,987.35 25,615.87 316,558.44 342.174.31 Investment in Plant: Bonds Payable $ 2,679,500.00 Net Invested 26,218,025.43 Total Invest. $28,897,525.4 Total Plant $29,29,699.7 Loan Other Funds: Bal. as to Prin. $ Bal. as to Income Total Oth.Funds I Total Liabilities 62,797.61 25,574. 0 88,372.11 42,562.68 48,243.72 62,115.00 310,514.73 1 050.871.80 ,t5l .307-93 95,116.76 ;95,116. 76 $ 35,857.40 5,237 83 r 41,095.23 $ 2,882.83131 1 2 .882, 31.31 . 2, 92 3,92 635tf Endowment $ 200,228J18 2,837.87 $2 03,066. 05 318.60 $ 13,104.131 238,165.09 166,956.94 631,545.61 30,000. 00 111,768.20 1,042,490.99 1,528,922.4 6,241,336.65 $1,529,241.03 $8,449,159.35 $ $ 6,466.19 j48,945.21 1,777 972.74 118, 945.21 ; 1,2784L l438 .93 $1;1.648, 186.24 02358 $ $ 35,857.40 25,615.87 321.796.27 $ _ di ~~~383, 26975-4 $ $ 2,679,500. 00 29 100 856.74 Agency $ $ 263,025.79 75 6:36.44 104 048.81 E 75 46-.4 67 074 0 j42.7 ,299.17 1. Negative figure. Division of ollge Total 13,lo4.13 I $ University of Kentucky STATEMENT OF UNREALIZED INCOME For the Current Fiscal Period which began July 1, 1952, and ended August 31, 1952 General Fund Budget Estimate Realized to Date Unrealized Balance Division of Colleges: Educational & General: State Appropriations Fed.Grants (through the State) Student Fees Endowment Income Sales & Services & Rentals Subtotal Auxiliary Enterprises: Residence Halls Miscellaneous Subtotal Total-Colleges Less-Income allocated to plant Net Colleges Agricultural Exper.Station: State Appropriations Fed. Grants (direct) Sales & Services Total-Experiment Sta. $3,163,'738.50 131,156.87 546,022.00 9,644.50 18,700.13 $3, 869,262.00 $ 361,49~2.00o 117,950.13 479 2.1 $4,348,704.13 $ 22 0,291.13 $4,128,413.00 $ 431,600.00 305,349.69 490,091.00 $1,227,040.69 $1, 002, 500. 00 88,318.37 78,361.25 9,200.00 4,020.28 $1l,1382,2599.90 30756% 2 $ 31,903.44 770.64 $ :32,674. 08 $1,215,073.98 27.94% $ 220,291.13 $ 994,782.85 24.10 $ 232,000.00 79,244.54 52, 004.85 $2,161,238.50 42,838.50 467,660.75 444.50 14,679.85 $2,686,862.56 $ 329,588.56 117,179.49 $ 446,768.05 $3,133.630.15 $3,133,b30.15 $ 199,600.00 226,105.15 438,086.15 $ 863,791.30 Agricultural Extension Div. State Appropriations Fed. Grants (direct) Total-Agr. Extension Total-General Plant Fund: General Income Allocated Stores Overhead Total-Plant Combined Total $ 632, 000.00 5g94 $1,791,525.94 $7,146,972.63 $ 220,291.13 28,352.00 $ 248,643-13 $7,325,622.76 $ 190,000. 00 765, 001 71 42.7-0,5 $2,125, 033.95 -29071.71 $ 220,291.13 2,736.13 $ 223, 0277X26 $24,346,,06i.21 31-2 $ 442,000.00 584,524.23 $ 1-,026, 52 4. 3 $5,023,945.68 25.615.87 $ 25,615.87 $5, 049,561.55 t 365,249-39 29. 6C% Uni.versity of Kentucky STATEMENT OF DEPARTMENTAL APPROPRIATIONS For the Current Fiscal Period which began July 1. 1952, and ended August 31, 1952 General Fund Depart. Approp. Expendi tures Encum brances Division of Colleges: Adm. & General Expense: General Adm. Of. $ 204,057.37 Student Welfare 62.085.32 General Expense 136,3059-02 30,597.10 8,600.46 14,663.85 $ 1,975.99 1,737.61 3,480.16 $ 171,484.28 51,747.25 118,161. ol Subtotal Instruction & Researc College of Arts & Sciences Engineering Commerce Agr. & Home Ec. Law Education Pharmacy Gradate School University Research Library University Extension Other Activities Subtotal $ 402.447.71 t _ : $1,258,911.33 342,626.60 163,904.76 237,445.01 67,755.33 301,465.81 76,761.00 11,172.58 20,000.00 226,113.29 112,754.00 19,790.00 $2,b3b,b99.71 $ Operation & Maintenance of Physical Plant, etc. General Approp. 691,174.72 $ Special Approps. 85,000.00 Work in Progress 25,000.00 General Stores, etc. 27,250.00 Subtotal $ 8 8 42 3 47t72- f 53,861.41 170,397.98 48,658.27 25,448.66 31,156.59 8,159.38 41,203.38 5,269.15 1,721.77 700.50 39,073.26 10,873.10 25423-09 385,C035.13 88,499.65 1,525.30 18,491.415 *27,438.72. 81, 077.69 21.- 15.17% 7j193.76 $ 341,392.54 $ 21,636.26 2,808.86 728.98 637.35 282.95 4,915.70 2,797.15 63.00 3,938.18 2,924.54 635.96 15.03 $ 82,272.70 16,795.45 29,Obb.15 $1,066,877.09 291,159.47 137,727.12 205,651.07 59,313.00 255,346.73 68,694.70 9,387.81 15,361 32 184,115.49 101,244.94 17,253.01 $2,412,131.75 $ 520,402.37 66,679.25 6,508.55 54,688.72 V 648,278.89 Auxiliary Enterprises: Residence Halls $ Miscellaneous Subtotal 304,840.00 $ 31,528. 56 ;336S,368.56 $ Total.,Colleges $4,405,940.70 t 25,243.6S 3,846.5E 29,090.2; 549.114.4i $ 46,849.00 690.07 22.7& 3. 7 $ 195,283.81 -16. 90 $ 232,747.31 26991.9. $ 259-,739.24 $3,661,542.42 *Negative number 4 Approp. Balances 5 University of Kentucky STATEMENT OF DEPARTMENTAL APPROPRIATIONS For the Current Fiscal Period which began July 1, 1952, and ended August 31. 1952 General Fund Expendi- tures $ 12,542. 04 24,22 0.88 11,682. 01 8,313.55 1.237.22 5,129.67 2 ^393.84 12,589.60 8,295.46 12,471.59 2,529.08 7, 009.09 3,388.72 11,896.29 2 ,219.93 1,190.00 4, 599 o00 779.66 2,582 .50 4,763.00 1, 017.71 5,855.93 1,708.40 5,906.59 9.45 $Z-1-54-441.21 15.79M Encum- brances $ 1, 216.54 675e81 2, 321.50 6,629.56 7,489.46 5.00 12,612.69 115.42 189.28 255 .25 1,367.28 91.80 10.00 1,230.10 6,305.24 2,032.00 1 5 75 I 4i 42 562 . 68 Approp. Balances $ 136,758.42 123,057.31 58,172 .49 43, 180.45 7,943.78 39 . 189 77 12,606.16 74,250.94 53,384.54 134,915.72 15,455.50 36,981.63 20 196.03 67 381.71 17. 048.79 19,313.89 27,291.00 6,120.34 18,587.40 27,479.00 5, 982.29 42,238.83 1, 708.40* 31, o69.41 $1, 050,87,1 80 Depart. Approp. Agr. Experiment Station: Administration Agronomy Animal Husbandryr Animal Pathology Creamery License Dairy Dairy Cattle Improv. Ent. & Botany Farm Economics Feed & Fertilizer Home Economics Horticulture Library Markets & Rural Fin. Poultry Publica. & Library Public Service Labs. Regional Research Robinson Substation Rural Sociology Seed Stocks W. Ky. Substation W. Ky. Improvement Social Security Misc.-Farm Main. Black Shank Total-Agr.Exp.Sta.-7 150,517.00 1.47.954.00 72,176.00 51.494.00 9,291.00 50,949.00 15 Q000 00 94,330.00 61,685.00 160, 000.00 18,100.00 44,180.00 23,840.00 79,278.00 2 0, 636. C00 20,595.69 31,900.00 6,900.00 22,400. 00 32,242.00 7,000.00 54,400.00 39,008.00 3,24 7, 7. o9 *Negative number. - 6 University of Kentucky STATEMENT OF DEPARTMENTAL APPROPRIATIONS For th-e Current Fiscal Period which began July 1, 1952 and ended August 31, 1952 General Fund Agr. Extension Divis Administration Agr. Engineering Agronomy Animal Husbandry Clothing County Agents Dairy Farm & Home Conven. Farm Management Forestry Foods Home Dem. Agents Home Management Horticulture Junior Clubs Markets Poultry Publications Public Information Rural Sociology Adm. Reserve Social Security Misc.-Black Shank Depart. Approp. ion: T7 61,520.00 28,996.00 34,615.50 24,191.00 12,600.00 822,899.58 25,879.00 1,500.00 15,347.00 10,436.00 11,712.00 499,000.86 29,844.00 18,862.00 80, 000.00 21,144.00 17,184.00 13,700, 00 15,968.00 5,685.00 14,442.00 26, oo0.0o Expendi- tures 9,307.31 4,330.37 3,293.85 4,533.08 1,922.00 121,586.02 4,104.82 Encum- brances $ 2,267.64 1,414.52 1,614.87 77,835.38 4,584.29 3,053.37 11,708.64 3,046.84 2,527.61 545.66 2,628.75 840.64 400.54 '738.71 318.60 Approp. Balances $ 52,212.69 24,665.63 31,321.65 19,657.92 10, 678. 00 701,313.56 21,774.18 1,500.00 13, 079.36 9,021.48 10, 097.13 421,165.48 25,259.71 15,808.6: 68,291.36 18, 097.16 14,656.39 13,154.34 13,339.25 4,844.36 14,442,00 400.54* 24,942.69 Total-Agr. Ex- ten.Div. $1.791.525.94 $ 2b2.284.91 i14.66k 31b.60 $1,52b,922.43 Combined Total $ 965.840.59 16.17% 238,16. r6,2414336.65 *Negative number. 11- ._,F, .s-s .... .. a... $7,44 342-33 University of Kentucky STATEMENT OF PLANT APPROPRIATIONS For the Current Fiscal Period which began July 1, 1952, and ended August 31, 1952 Plant Funds Dept. Expendi- Encum- Approp, tures brances Division of Colleges: P.W.A. First Bond issue P.W.A. Second Bond Iss. Dorm.Rev. Bond Issue Audit-Fieldhouse Issue Library & Service Bldg. Bond Issue Stadium Rev. Bond Issue Dorm.Issue-Rose St. Journalism Bond Issue Dicker House Annuity Fieldhouse Norwood Hall Fire Loss Bal. Service Bldg. Constr. Fine Arts Bldg. Journalism New Science Bldg. Dorm. Constr.-Rose St. Libr. & Service Bldg. C1. Sprinkler System Subtotal $ 36,948.54 16,486.99 24,335.00 101,691.50 45,942.77 22,742.82 4,554.15 16,461.75 230.68 30,250.17 8,240. oo $ 36,948.54 8,246.99 24,335. 00 51, 060. 65 50, 630.85 45,942 .77 22,742.82 4,554.15 16,461.75 230.68 30,250.17 15,911.25 3,697.19 2,156.47 7,938.69 3,300.0o 4,465.54 33,872.46 47443.32 ;375-,_429-29 15,911.25 3,697.19 2,156.47 7,938.69 3,300.00 4,465s.54 33,872 .46 4, 44".32 7 Free Balance $ 58,870.85 1 8 University of Kentucky STATEMENT OF PLANT APPROPRIATIONS For the Current Fiscal Period which began July 1, 1952, and ended August 31, 1952 Dept. Approp. Plant Funds Expendi- tures Encum brances Free Balance Agr. Exp. Station: Animal Path.Bldg. Repairs & New Equip. W. Ky. Water System Agr.Eng. Bldg. Sheep Barns Brooder House Miscellaneous Subtotal Combined Total $ 4.35 194.48 200,00 704.00 2,500.00 1,566.30 68.70 $380 667. 12 $ $ $ 4.35 194.48 200.00 704,00 2,500.00 1,566.30 68.70 $ $ I$ 53237.27 $ 54878 $ , $321, 796.2 7 9 University of Kentucky STATEMENT OF OTHER FUND TRANSACTIONS For the Current Fiscal Period which began July 1, 1952, and ended August 31, 1952 Balance July 1, 1952 Receipts Disburse- ment s Balance Aug.31, 1952 Restricted Funds: Div. of Colleges Agr. Exp. Station Agr. Ext. Division Subtotal $1,660,806.73 95,082.78 137,589.11 $1,893,478.62 $296,217.32 19,883.01 )47136.91 $363,237.24 $393, 113.28 19,849.03 65,780.81 $478,743.12 $1,563,910.77 95,116.76 118,945.21 $1,777,972.74 Loan Fund: Principal Income Subtotal Endowment Funds: Principal Income Subtotal Agency Funds: Balances $ 62,797.61 2, 485.06 $ 87,282.67 $ 200,228.18 2, 716 *33 1,090.04 $ 1.090.04 $ 121.54 $ -121.5-4 $ 68.724.28 .6o $ $ 72,482.63 $ 62,797.61 25,574.50 $ 200,228.18 2,68376.87 $- 203, Obb. 5 L_ 75, 636. 44 Combined Totals d! n ier_,252,40. 08 $2,145,04'y.34 $551,22k,2 10 University of Kentucky STATEMENT OF COMBINED RECEIPTS AND EXPENDITURES For the Current Fiscal Period which began July 1, 1952, and ended August 31, 1952 Receipts and Transfers: General Income Plant Income Restricted Receipts Loan Fund Receipts Endowment Fund Receipts Agency Fund Receipts $ 2,123,033.95 223,027.26 363,237.24 1,090.04 121.54 79,394.79 t 2;789904.82 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 $ 1,204,005.68 58,870.85 47T8, 743.12 .60 72,482.63 Total Expenditures $ 11814 102.88 4A Some questions were asked and answers given concerning the report, and upon motion duly made, seconded and carried, same was received and authorized made a part of the minutes. D. Matured Bonds and Coupons Authorized Burned. President Donovan submitted the following communication from the Comptrol- ler, requesting permission to destroy bonds and coupons which had matured and had been paid. The bonds and coupons were listed in detail to be made a part of these records. Sept~ember 4, 1952 Dr. H. L. Donovan, President University of Kentucky My dear President Donovan: The following bonds and coupons, representing a part of the bonded indebtedness against certain buildings at the University of Kentucky have matured and been paid: UNIVERSITY OF KENTUCKY 2 3/4% STADIUM ADDITION REVENUE BOND ISSUE, $1, 000 DUE BONDS NO. COUPONS-INCLUSIVE April 1, 1950 1 -15 1 - 2 * April 1, 1951 16 -30 1 - 4 ** *Coupon No. 1 due and paid October 1, 1949, and No. 2 due and paid April 1, 1950 on bonds, Nos. 1 through 300, and **Coupon No. 3 due and paid October 1, 1950 and No. 4 due and paid April 1, 195 1, on bonds Nos. 16 through 300. UNIVERSITY OF KENTUCKY 1 3/4% FIRST P. W. A. REFUNDING BOND ISSUE, $1, 000 DUE BONDS NOS, COUPONS INCLUSIVE* June 30, 1- 1 -27 1 - 4 June 30, 1948 28 -54 1 - 6 June 30, 1949 55 - 82 1 - 8 June 30, 1950 83 -111 1 - 10 June 30, 1951 112 -141 1 - 12 June 30, 1952 142-171 1 - 14 15 *Interest coupons paid on First P. W. A. Revenue issue, Coupon No. 13 for bonds, Nos. 142 through 507, due January 1, 1952, and coupon No. 14 for bonds Nos. 142 - 507. UNIVERSITY OF KENTUCKY 3% SECOND P. W. A. BOND ISSUE, $1,000 DENOMINATIONS DUE BONDS NOS. COUPONS-INCLUSIVE March 1, 1940 1 - 3 1 -3 September 1, 1940 4 - 6 1 -4 March 1, 1941 7 - 9 1 -5 September 1, 1941 10 -12 1 - 6 March 1, 1942 13 -.16 1 - 7 September 1, 1942 17 -20 1 - 8 March 1, 1943 21 -24 1 - 9 September 1, 1943 25 -28 1 - 10 March 1, 1944 29 - 32 1 - 11 September 1, 1944 33 - 36 1 - 12 March 1, 1945 37 -40 1 -13 September 1, 1945 41 - 44 1 - 14 March 1, 1946 45 -48 1 -15 September 1, 1946 49 - 52 1 - 16 March 1, 1947 53 -56 1 -17 September 1, 1947 57 - 60 1 - 18 March 1, 1948 61 - 64 1 - 19 September 1, 1948 65 - 68 1 - 20 March= 1. 1949 69 - 72 1 - 21 *The following represent unpaid coupons: BONDS NOS. COUPONS 179 9 236 9 237 9 154 12 155 12 156 12 235 15 236 15 237 15 214 20 106 - 110, incl. 21 149 - 153, incl. 21 176 21 214 21 267 - 274, incl. 21 289 - 290, incl. 21 16 I request permission to make this letter of official record in the minutes of the Board of Trustees and authorization to burn these bonds and coupons. Respectfully submitted, (Signed) Frank D. Peterson Comptroller. After the letter was read, upon motion duly made, seconded and carried, the matured bonds and coupons which have been paid were authorized burned, in the presence of the Comptroller of the University and two members of the Board of Trustees. E. Women's Residence Hall--Construction Authorized. President Donovan reported that, pursuant to authori zation of the Executive Committee, the University had submitted application for a federal loan for the construction of a dormitory for women students. The estimated cost was $1, 211, 000. 00. The application for loan was based upon the State making avail- able the sum of $400, 000. 00, the balance of $722, 000 to be raised through the issuance of revenue bonds. It was further explained that this dormitory would accommodate 304 women students. The President further reported that the proper request has been submitted to the State Property and Building Commission and that body has given official approval for requesting the Federal loan and the issuance of interest bearing rev- enue bonds. He stated that plans and specifications are available. President Donovan stated that it would be impossible to amortize 100% of the construction and equipment costs of the dormitory and the grant of $400, 000 from funds available to the State Property and Building Commission would make the construction of this dormitory possible. Members of the Board manifested keen interest in the project, and upon motion duly made, seconded and carried, approved the submission of the application to the Housing and Finance Agency for a loan of $722, 000, and directed the Comptroller's Office to expedite approval in so far as possible. F. Budget Changes. President Donovan submitted a list of budget changes which have been request- ed. The changes aggregated a decrease in budget appropriations of $751. 32, and an increased appropriation in various departments of $10, 030. 98, making a net increase in budget appropriation of $9, 279. 66. 17 Upon motion duly made, seconded and carried, budget changes recommended were approved, and the Comptroller was directed to make the necessary budget adjustments. The list of changes was authorized filed with the Secretary of the Board. G. Revised Budget for Department of Radio Arts and Radio Station. President Donovan stated that Mr. Elmer G. Sulzer, head of the Department of Radio Arts and Radio Station has resigned, an acting head has been appointed, and, upon the request of the Dean of the College of Arts and Sciences, he was recom- mending that the two departments be merged and the appropriation {or the operation of these departments be combined. The President reported request for an increase of $3, 470. 00, in order to establish the position of production supervisor. He gave two reasons for establish- ing the new position and increasing the budget as follows: (1) This person will be vitally important in any cooperative arrangements with reference to television; (2) It is only through this kind of a person that we can expect to get our radio pro- grams on major hookups. The University of Minnesota has had remarkable re- sults in this way. He stated that the combining of the two departments and the increased appropriation was made by Dean M. M. White and he was recommending approval of the request. Upon motion duly made, seconded and carried, the appropriations were au- thorized combined, and the Comptroller was directed to increase the appropriation in the amount of $3, 470. 00. H. Attorney Employed to Prepare Bond Issue Document. President Donovan reported that the Board of Trustees and the State Property and Building Commission had authorized the filing of an application for Federal loan with the Housing and Home Finance Agency, Washington, D. C. , for $1, 400, 000, to help finance the construction of a men's dormitory. The Loan Agreement has been approved. The University is asked by the Agreement to sub- mit legal documents pertaining to the bond issue and an approving opinion by a reputable attorney of national standing. Mr. Peterson reported that he had conferred with Governor Wetherby and various members of the Executive Committee of the Board of Trustees, and had secured the services of Attorney Cornelius W. Grafton, Louisville, Ky. , and Chapman and Cutler, Chicago attorneys, to prepare the necessary documents, and to furnish approving opinion, and requested ratification by the Board of Trustees. Upon motion duly made, seconded and carried, the employment of Cornelius W. Grafton, attorney of Louisville, Ky., for the sum of $3, 000. 00, with the understanding that the approving opinion will be given by Chapman and Cutler, bond attorneys of Chicago, was ratified and approved. The necessary funds were appropriated for the costs involved. I. Comptroller's Position Re-stated and Directive Renewed. The University Comptroller made the following statement to the Board: "The Board of Trustees on April 1, 1941, by resolution established a department of Business Management and Control. The head of the Department was designated as Comptroller of the University. He is charged with the man- agement and control of the business and finance of the University. He is 'charged with the accounting and control of all funds from whatever source de- rived of every department and activity of the University and with the control, under the law, of all requisitions and purchases and all budgetary matters thereof, and shall report such matters in due form through the President to the Board of Trustees of the University, but he shall not delegate the functions of finance, accounting, and control. ' Some Departments within the colleges and the Experiment Station secure bids previous to the submission of the requisition to the Comptroller's Office. This practice has a definite tendency to confuse and delay the actual purchase on such a requisition. It often hap- pens that the vendor, having bid to the department, feels that such a bid should be final and fails to bid when a formal request for a quotation is sent to him. This causes unnecessary confusion, delay, and work on the part of both the University and vendor personrel. There is also a tendency on the part of some members of the staff to make purchases, thereby obligating the Uni- versity for unauthorized purchases. "Requisitions are received specifically, specifying one 'brand name' with the request, 'No substitution', when it is possible to secure an alteranate at a cheaper price which would do the work or is an equal to the product wanted. Requisitions are also received without adequate specifications. even though they are available, and the wording is so sketchy as to be unintelligible ex-