xt7f7m03z93r https://nyx.uky.edu/dips/xt7f7m03z93r/data/mets.xml Lexington, Kentucky University of Kentucky 19531315 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, 1953-13-dec15. text Minutes of the University of Kentucky Board of Trustees, 1953-13-dec15. 1953 2011 true xt7f7m03z93r section xt7f7m03z93r 


Irregularities




 











      Minutes of the Meeting of the Board of Trustees of the University of Ken-
tucky, December 15, 1953.


      The Board of Trustees of the University of Kentucky, pursuant to ad~journ-
ment of December 8, met in the President' s Office at 10:25 a. m., Tuesday, De-
cember 15, with the following members present: Governor Lawrence W.. Wetherby,
Mrs. Paul G. Blazer, Dr. Ralph J. Angelucci, Carl Dempewolfe, J. C. Everett,
Guy A. Huguelet,Rarper Gatton, R. P. Hobson and Smith D. Broadbent. Absent:
Thomas A. Ballantine, Herndon J. Evans, M. W. Moore, Ben S. Adams, Wendell
P. Butler and Paul M. Basham. 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 September 22, 1953; and the minutes of the Executive Committee of
October 16 and November 20, 1953, were approved as published.



      B. Comptroller' s Report.

      The Comptroller submitted the following financial report, with summary
statement, balance sheet and statement of operations for the period beginning July
1 and ending November 30, 1953.




 








                 UNIVERSITY \           OF KENTUCKY


                               LEXINGTON

                                                  December 10, 1953



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

My dear Doctor Donovan:

I submit herewith a balance sheet of University funds as of November 30, 1953,
together with statements covering University fund transactions for the period of
five months beginning July 1, 1953 and ending November 30, 1953.

Division of Colleges:

The total budgeted income by the Board of Trustees for the Division of Colleges
is $4,421, 877. 22, of which $2, 298, 109. 17 has been realized, during the period
of this report. There was appropriated by the Board of Trustees for Operations
of the Various Colleges, Administration, Operation and Maintenance of Physical
Plant, and Auxiliary Enterprises $4, 941, 517.98. The deficit of $519,640. 76
is being financed from the June 30, 1953 surplus. Charges against the appro-
priations for the period were $1,934,960. 60.

Experiment Station:

The total budgeted income for the Experiment Station is $1, 164, 597. 02, of
which we have received $754,870. 10 during the period.  The total departmental
appropriations amounted to $1, 286, 607. 52. The deficit of $122, 010. 50 is being
financed from the June 30, 1953 surplus.  Of the total departmental appropria-
tions, $496, 167. 10 has been actually spent or encumbered during this period.

A ricultural Extension Division:

The total budgeted income for the Agricultural Extension Division is $1) 745, 313. 80,
of which $990, 811. 71 has been received. The total departmental appropriations
amounted to $1, 781, 550. 82. The deficit of $36, 237. 02 is being financed from the
June 30, 1953 surplus. The expenditures and encumbrances for the period to-
taled $700, 654. 39, which is 39. 33% of departmental appropriations.

Plant Funds:

Plant fund expenditures and encumbrances for the period amounted to $108, 679. 67,
which is 12. 531% of the appropriations totaling $899,499. 25.

The operation of the University is provided from the Current Funds group, which
consists of General Funds and Restricted Funds. The following statements show
how the 1952-53 Current Fund dollar was provided and how it was spent.




 















         How It Was Provided

            (By Source)

State Appropriations
Federal Grants
Student Fees and Federal Tuition
Sales and Services
Resident Halls
Other Self Supporting Services
Gifts, Research and Endowment
   Income

            Total



          How It Was Spent

          (By Function)

Administration and General
Instruction and Research
Library
University Extension
Agricultural Services
Operation and Maintenance of
   Physical Plant
Residence Halls
Other Self Supporting Services
Scholarships

            Total



Seventy-two and one-half per cent (72. 5%) of the Current Fund
for salaries and wages, 24. 5% for other current expenses, and
outlay.



dollar was spent
3% for capital



Respectfully submitted,



Frank D. Peterson
Comptroller



45. 8%
1 7. 3%
8. 7%
13. 0%
4.0%
10. 0%

  1. 2%

100. 0%



4. 8%
32. 7%
2. 6%
3.4%
33. 0%

  7. 5%
  3, 5%
  11. 5%
  1. 0%

100. 0%




 






University of Kentucky
   BALANCE SHEET
As of November 30, 1953

       ASSE TS



Agricultural
Experiment
  Station



Agricultural
Extension
  Divi sion



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



Total General



$.   28, 202. 59
      3, 057. 43

    573,327. 68
        882. 82
    729,603.25
    26,942. 57
    531, 172. 86
    111, 768. 20
  2, 123, 768. 05



$ 4, 128, 725.45



$   79, 273. 68


    94, 563. 80
    21, 219. 92
    333, 170. 69



$   79,400.15


   235, 321. 42
   11, 727.41



52, 739. 00



409,726.92



$ 990. 694. 01



754,502. 15



$ 1,080,951.13



$



186,876.4Z
3, 057. 43



    903, 212.90
    33,830. 15
  1, 062, 773.94
     26,942. 57
     583,911.86
     111,768.20
  3, 287,997. 12

$ 6, 200,370.59



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



   Total Restricted
   Total Current

Plant Funds:
u nexpendedo:
Cashl in Bsan
Revolv. Funds
Unreal. Income

  Total Unexpended

Investment in Plant:
Construction Authorized
Fixed Assets



  Total -Inve sted
  Total -Plant



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



$ 1,528,330. 79
      4,300.00
      30, 000. 00
    800, 286.08



$ 2,362,916. 87
$ 6,491,642.32




$ 1,006,547.99
     27,629. 00



$ 1,034,176,99


$   710,000.00
Z9,372,375. 52

$30,082, 375 52
$31,116,552.51

    Loan


$     8,725.76
     10, 562.61
     75, 500.00
$    94,788.37



$ 118, 113.32
       600. 00

    15, 000. 00



$  133 R 713. 32
$1, 124,407. 33




$  102,072. 23



$ 102, 072. 23


$
3, 048,041. 31

$3,048,041.31
$3, 150,113,54

  Endowment



$    1



22,707.51  $ 1, 769, 151.62
3, 000. 00     7,900. 00
                30, 000. 00
14,948. 00    830,234.08



$   140,655.51



$1,Z 1  0. 64

$1p    TT



$



$ 2,637,285.70
  8, 837,656. 29




$ 1, 108,620. 22
     27,629.00

$ 1,136,24922



$,  710,000.00
32,420,416.83



,. $33, 130,416. 83
* $34, 266,666. 05



A gency



$    3,964. 40  $  101,626. 57



   200, 700.48
204,664. 88



     15, 000. 00
$   l b1,66. 57



$   114,316.73
     10, 56Z. 61
     291, 200. 48
$   416,52 74. 8z
$43, 5204.1



Division
  of
Coll eges



Total



-




 







2



University of Kentucky
   BALANCE SHEET
As of November 30, 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     $

Re stricted:
Outstand. Cks.       $
Restr. Bals.

   Total Restr.      $
   Total Current

Plant Funds:
tUnexpended
Res. for encumbrances:
Current Year         $
Prior Year
Approp. Bals.

  Total Unexpended   $

Investment in Plant:
Bonds Payabe          $
Net Invested

  Total Invest.       $
  Total Plant



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



30,000.00 $



  249,448.48
  50, 320. 32
  531, 172. 86
  111, 768. 20
  149, 458. 21
3,006,557.38



$



52, 258. 51
21, 760. 57
52, 739. 00



73,495. 51
790, 440.42



4,1Z8,725.45 $ 990,694 01


    6,452. 74 $
2,356,464. 13  133,713. 32

2,362,916. 87 $  133,713.32
6,491,64273Z $1, 124,407.



10, 418. 44
329, 220. 20



$



5, 785. 00



  694,532. 35    96, 287. 23

  1,034,176.99 $  102, 072. 23


3,235,500.00 $
26,846,875.52  3,048,041.31

30,082,375. 52 $3, 048, 041. 31
31,116,552. 51 $3,150, 113.54

   Loan         Endowment


   66,616.01 $ 201,616. 64
   28,172, 36    3,048. 24
   94, 788.  $ 204/M.=



        54. 70




 1,080, 896.43

$1,080,951, 13



$



140,655. 51



$  140, 655.51
$1,221,60b. 64





   Agen$y





$




$


   Agency



   116, 626. 57
$ 116,626 57



$   30,000.00



  301, 761.69
  72, 080. 89
  583,911.86
  111, 768.20
  222,953. 72
4,877, 894. 23



$ 6,200,370.59



$      6,452. 74
   2,630,832.96



$ 2,637,285.70
$ 8,837,656.29




$     16, 203.44-
     329,226.20
     790,819.58



$ 1,136,249.22



$ 3,235,500.00
  29,894,916.83

$ 33,130,416.83
$ 34, 266,;&66 05



$    268,232.65
     147, 847. 17
$    Zb, 079. 82'
$ 43,520,4 2,16



Division
of
Colleges



Total




 






3



         University of Kentucky
STATEMENT OF UNREALIZED INCOME
For the Current Fiscal Period which began.
July 1, 1953 and ended November 30, 1953


            General Fund



Budget
Estimate



Division of Colleges:
ducational and General:
State appropriations
  Federal grants (through the state)
  Student Fees
  Endowment Income
  Sales and Services and Rentals



Subtotal



Amdliary Enterprises:
  Residence Hall s
  Miscellaneous

      Subtotal

      Total -College s

Less - Income allocated to plant

      Net- Colleges


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

       Total-Experiment Station


Agricultural Extension Division:
  State Approp-iations
  Federal Grants (direct)



       Total-Agricultural Extension

       Total -General

Plant Income:
General Income Allocated
Stores Overhead
       Total -Plant

       Combined Total



$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, 89 7. 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
$ 216,5z6.00

$7,548,314. 10



Realized
to Date



$2, 010, 783.41
   93, 249.01
   158, 741. 73
     9,200.00
     9,745.74



$2,281,719. 89
     S 7. 2917o


$   31,265.32
   104,0 0,. 96



$  135, 286. 28
    24, 25u/
$2,417, 006. 17
    53. 22uo
    118, 89 7. 00

$29 29 8, 109, 17
     5 . 9 7%


$ 347, 000.00
   177, 014.51
   230, 855. 59



$ 754, 870.10
     64. 92u/o


$ 415, 000, 00
   575, 811 71



$ 990, 811, 71

$4, 043, 790,98
   T5. 15%



$  188, 897, 00



$  1881897. 00

$4s 232, 687,98
     56- 07VF%_



Unrealized
Balance



$1, 131,000.09
    31, 630. 09
    529,058.27
       444. 50
     8,954. 26

$1,701,087.21



$ 327,866.68
    94, 814.16

$ 422,680.84

$2, 123, 768.05



$2, 123, 768. 05



$   88,600.00
   151, 122.51
   170,004.41

$ 409,726.92



$ 203,200.00
   551, 302. 15

$ 754, 502. 15



$3,287,997.12



$
    27, 629.00
$327,629.00

$3, 315,6L6. 12




 






4



               University of Kentucky
STATEMENT OF DEPARTMENTAL APPROPRIATIONS
     For the Current Fiscal Period which began
     July 1, 1953 and ended November 30, 1953

                   General Fund



Depart.
Approp.



Division of Coileles:
Acdm. & General Expense:
General Adm. Offices
Student Welfare
General Expense



$  206,9 72. 09
    72, 885.47
    165, 245. 04



Expendi-
ture s



$   82,950.47
    28, 576. 85
    69, 179. 06



Enc um -
brances



$ 2,662.01
     539.78
  16,882.26



  Approp.
  Balances



$  121,359.61
    43, 768.84
    79,183.72



$ 445,102. 60



$ 180, 706.38  $ 20,084.05
         -4 - 5. l lo



$  244, 312. 17



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



$1,434,736.60
   359,312.40
   185,707.48
   255,898. 38
   75,,756. 34
   330,178.82
   81,428.00
   11,385.36
   20, 000. 00
   252,511.85
   127,110.52
   26,640.00



$  549, 366. 19
   131, 378. 18
   74, 754. 68
   86, 716. 52
   26, 544. 82
   120, 566. 67
   26,114. 51
     4, 392. 28
     3,978. 78
   114, 153.81
   47,895 17
   10, 941.82



$ 37, 199. 58
   7, 129. 59
     362. 15
   2, 162. 56
   1, 187. 20
   6, 221.43
   3, 160,96
     441, 95
   3,310. 00
   2, 817. 76
   1, 354, 32
   1,,433. 15



$  848, 170.83
   220, 804.63
   110, 590.65
   167, 019. 30
   48, 024.32
   203, 390. 72
   52, 152. 53
     6, 551. 13
     12, 711.22
   135, 540. 28
   77, 861. 03
   14, 265.03



$3, 160,665.75



$1,196,803.43   $ 66,780.65
          39. 980[o



$1, 897, 081.67



Operation and Maintenance
ofPysical Plant, etc.
General -Appropriation
Special Appropriations
Work in Progress
General Stores, etc.



$ 755,220.00
    70, 000. 00
    25, 000. 00
    55,000. 00



$  197,665, 22
    26, 645. 68
    14, 525. 99
    46, 896. 62*



$ 95,410.36
  13, 247. 16



$ 462, 144.42
    30, 107. 16
    10, 474. 01
    101,896.62



Subtotal



$ 905,220.00



Auxliary Entergrise s:
Residence Halls
Misc ellaneous
Subtotal

Total-Colleges



$ 305,041. 63
   125,488. 00
$ 430, -5T29.63

$4,941, 517. 98



$  191, 940. 27  $108,657. 52
          33. 2 1%



$  105,646. 26  $ 51,410. 26
    10, 415. 78    2,516.00
$    1 6, U. 06 2e, 97
          3  8%
$1,685,512. 12  $249,448.48
          39. 16%



$ 604,622.21



$  147,985. 11
   112, 556. 22
$3 260, 517.33

$3,006i, 557. 38



*Negative figure.



Subtotal



Subtotal




 







               University of Kentucky
STATEMENT 0 F DEPARTMENTAL APPROPRIATIONS
      For the Current Fiscal Period which began
      July 1, 1953 and ended November 30, 1.953


                  General Fund



Depart.
Approp.



Expendi -
ture s



Enc um -
brance s



Azr. Experiment Station:
  Administration
  Agronomy
  Animal Husbandry
  Animal Pathology
  Creamery License
  Dairy
  Dairy Cattle Improve.
  Entomology and Botany
  Agr. Economic s
  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



$ 166, 178. 85
   148,954. 00
   72, 176. 00
   51, 494. 00
   9, 29 1. 00
   67, 749. 00

   94, 830. 00
   136, 663. 00
   160, 000. 00
   18, 100. 00
   44, 180. 00
   35, 136. 00
   28, 650.0(
   32 300.00
   6,900. 00
   22, 400. 00
   32,242.00
   7, 000. 00
   49,615.65
   39,008.00

   54, 400,00
   9,340.00



34,376.06
59; 117. 94
35, 668. 81
17, 728. 36
3,'64.11
25, 880. 41

35, 904. 47
52, 298. 47
45, 000. 78
6,508. 53
17,354. 9 7
11,699.73
6, 724. 71
12, 192. 71
2, 502. 28
9, Z10. 81
11,622.99
2,892. 75
9, 550. 77
16,902. 71
3,393. 52
18, 102. 95
5,609. 75



$ 2,429.75
    821. 85
  1, 354. 09


  8, 873. 50

    359. 91

 24, 660. 44
     33. 40
     165. 99
  1, 623. 64
    244.95
    344. 59

    842. 40


  1, 09 3. 40
  4,297. 10

  53 113.50



$129, 373. 04
  89, 014.21
  35, 153. 10
  33,765. 64
  5, 626. 89
  32, 995. 09

  58, 565. 62
  84, 364. 53
  90, 338. 78
  11, 558. 07
  26, 659. 04
  21, 812. 63
  21, 680.36
  19, 762. 70
  4, 397. 72
  12, 346. 79
  20, 619. 01
  4, 107. 25
  38, 971. 48
  17, 808, 19
  3, 393. 52*
  31, 183. 55
  3, 730. 25



Total-Agricultural Ex-
  periment Station



$1,286,607.52



$443, 908 59    $52, Z58. 51
         38. 56   



$790,440.42



*Negative Number.



Approp.
Balanrces




 






6



              University of Kentucky
STATEMENT OF DEPARTMENTAL APPROPRIATIONS
      For the Current Fiscal Period which began
      July 1, 1953 and ended November 30, 1953


                  General Fund



Depart.
Approj2.



Expendi -
ture s



Encum -
branc es



Approp.
Balances



Agr. Extension Division:

Administration
Agr. Engineering
Agronomy
Animal Husbandry
Clothing
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



$   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
    32, 727. 41

    6, 805. 00



$   15,225, 79,
    10,970. 20
    14, 523. 78
    10,392.88
    5, 059. 67
    326,937.04
    10, 216.87



3, 269. 14
4, 567. 41
200,914. 37
10, 596. 14
  7,966. 73
31,985.45
14, 501.73
  7, 185, 82



15, 967. 27
2, 505. 68
7,028. 17
  785. 55



$



$   26,466.21
    18, 489. 80
    19, 127.91
    13, 805. 12
    7, 540. 33
    488,991.43
    17, 132. 13
    1,500.00



7,666. 86
7, 144. 59
299,443.80
19,887.86
10,902. 27
47,455.55
15,651.27
9,824. 18



54. 70



35, 023. 81
3,179.32
25, 644. 54
   785. 55*
6, 805. 00



Total -Agricultural
Extension Div.



Combined Total



$1,781, 550. 82



$8, 009,676.32



$ 700,599.69



$2,830,020.



  $     54.70
39. 33%



40   $301,761.69
=9 . I O..,



$1,080,896.43



$4, 877, 894. 23



*Negative figure.




 






7



          University of Kentucky
STATEMENT OF PLANT APPROPRIATIONS
For the Current Fiscal Period which began
July 1, 1953 and ended November 30, 1953

              Plant Funds



                           Dept.
                           Approp .

Division of Colleges

P.W.A. First Bond Issue  $ 36,401.52
P. W. A. Second Bond Issue  16, 192.96
Dor. Rev. Bond issue       24, 125. 00
Audit-Fieldhouse Issue    100, 290. 43
Lib. & Serv. Bldg. Issue   45,311.77
Stadium Rev. Bond Issue    22, 381. 3Z
Dorm. Issue, 456 Rose St.   4, 486. 77
Journalism Bond Issue      16, 196. 25
Dorm. Issue, 476 Rose St.   4, 131. 28
Dor. Issue, A,BC,D,E,F      2, 068.61
Lib. & Serv. Bldg. Reserve  45, 552. 36

      TOTAL BOND ISSUES $317,,138.27



Expendi -
ture s



$



8,095. 09



Encum-
b ranc es



$



49, 782. 21
6, 286. 25
3, 637. 50
3,496. 87

3, 060. 00
12, 011. 25



$ 86,369. 17



$



Free
Balance



$ 36,401. 52
   8,09 7. 87
   24, 125. 00
   50, 508. 22
   39,025. 52
   18, 743. 82
     989.90
  16, 196. 25
  1, 071. 28
  9,942. 64*
  45, 552. 36

$230,769. 10



Dicker House Annuity
Coliseum Constr.
Norwood Hall-Fire Loss
New Men, s Dorm. Constr.
Service Bldg. Constr.
Fine Arts Bldg. Constr.
Journalism Bldg. Constr.
New Science Bldg. Constr.
Sprinkler System
Six Small Dorms Constr.
Six Small Dorms Retainer
New Women' s Dorm #5



$



$    230.68
  30, 250. 17
  15,911. 25
  3, 000. 00
  3,,697. 19
  2, 156.47
  7, 938.69
  3, 300. 00
  4,443. 32
  34, 513.85
  33,946. 00
340,901. 13



$



   25. 50





6, 081.56



           $    230.68
             30, 250. 17
             15,911. 25
             2,974. 50
             3,697. 19
             2, 156. 47
             7,938. 69
             3,300. 00
             4,443. 32
10,418. 44   18,013. 85
             33,946. 00
             340,901. 13



TOTAL CONSTRUC-
    TION



$480, 288. 75



$ 6,107.06



    $ 10,418. 44
03. 44To



$463, 763. 25



TOTAL PLANT



$797,427.02



$ 92,476, 23   $ 10,413.44
           12. 9 0o



$694, 532. 35



*Negative figure.




 






8



          University of Kentucky
STATEMENT OF PLANT APPROPRIATIONS
For the Current Fiscal Period which began
July 1, 1953 and ended November 30, 1953

              Plant Funds



Dept.



Expendi -
ture s



Encum -
brances



Free
Balance



Agr. Experiment Station:

Repairs & New Equip.



$102, 072. 23



$



$ 5, 785. 00



$ 96,287.23



$102, 072.23



$              $ 5,785.00



$ 96,287.23



Combined Total



$899,499.25



$ 92,476.23    $16, Z03. 44
         12. 53%o



$790, 819. 58



Subtotal




 







9



           University of Kentucky
STATEMENT OF OTHER FUND TRANSACTIONS
  For the Current Fiscal Period which began
  July 1, 1953 and ended November 30, 1953



Balance
July 1, 1953



Receipts



Disburse-    Balance
ments        Nov. 30, 1953



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

   Subtotal



Loan Fund:
P7incipal
Income

   Subtotal



Endowment Funds:
Principal
Inco me



Subtotal



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

$2, 194, 3 76. 03



$   66,573.61
    27,495. 78



$   94,069.39



$ 201,616.64
     2,937. 19



$ 204,553.83



$   67, 809. 24



$1, 085,296.29
    79,894.21
    67, 064.46



$1, 232, 254.96


$      42.40
       695.02

$      737.42



$
_    111.05

$      l1l105



$ 242,097.87



$ 794,069.47
    55, 759.33
    45, 969. 23



$2,256,464.13
   133, 713. 3Z
   140,655.51



$ 895,798.03 $2,530,832.96


$            .$   66, 616. 01
        18.44     28, 172. 36

$       18.44 $   94, 788. 37



$             $ 201, 616. 64
       _____________   3, 048, 24

$             $ 204,664.88



$ 193, 280. 54 $  116, 626. 57



$1, 089, 097.01 $2,946,912. 78



AgencX Funds:
alces



$Z,560,808.49



$1, 475, 201. 30



Coambined Trotal s




 








iO



                  University of Kentucky
STATEMENT OF COMBINED RECEIPTS AND EXPENDITURES
         For the Current Fiscal Period which began
         July 1, 1953 and ended November 30, 1953




Receipts and Transfers:



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

           Total Receipts


Expenditures and Transfers



$4,043,790.98
   188, 897. 00
 1,232,254.96
      737.42
      111. 05
  242, 097. 87

$5, 707,889. 28



(Including Encumbrances):



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



$3, 131,
   108,
   895,



782. 09
679. 67
798. 03
18. 44



193, 280. 54



Total Expenditures



$4, 3-29, 558. 77




 








14



       Upon motion duly made, seconded and carried, the Comptrollert s report
was authorized received and made a part of the minutes.



       C. Budget Changes.

       President Donovan submitted a list of changes in the University budget.
The total decreases amounted to $6, 612. 62 and the total increases amounted to
$58. 83, making a net budget decrease of $6, 553. 79. He recommended that the
increases and decreases as evidenced by the list submitted be authorized.

       Upon motion duly made, seconded and carried, the Board concurred in the
recommendation of the President, and the Comptroller was authorized to make
the necessary budget adjustments.



       D. Report on Alumni Election.

       The Secretary of the Board of Trustees reported that, pursuant to rules
and regulations of the Board of Trustees, the nominating committee of the Alumni
Association nominated the following for alumnus member of the Board of Trus-
tee s:

             Flemning Bowlds, B. S. Ped., 1908
             Howell J. Davis, A. B., 1929
             Gerald Griffin, A.B., 1922
             William H. Townsend, LL. B., 1912
             J. Stephen Watkins, B. S. C. E., 1930 - C. E., 1938
             Mrs. Cecil T. (May Berry) Williams, B. S., 1929.

       The Secretary of the Board of Trustees caused the biographical data and
official ballot to be mailed to each graduate of the University of Kentucky. Sealed
ballots were received in the office of the Secretary of the Board and, on December
14, they were opened and tabulated in public. The following alumni members of
the University received the highest number of votes, in the order in which named:

             William H. Townsend
             J. Stephen Watkins
             Gerald Griffin,

       The members of the Board received the report of the Secretary and, upon
motion duly made, seconded and carried, authorized the names of the three alumni
members certified to the Governor of the Commonwealth, from which list he may
select and appoint one to take the place of Herndon J. Evans, whose term expires
December 31, 1953,  The new appointee will serve for a term of four years, end-
ing December 31, 1957,




 







15



       E. Foreign Operations Administration.

       President Donovan made a brief report on the new plan which the Foreign
Operations Administration seeks to adopt to provide most of its technical services
overseas.  The Government wishes to shift much of the detailed administration
of foreign technical assistance out of Washington into various universities, and
toward this end has decided to enter into three-year contracts with appropriate
universities for technical aid abroad.

       The plan calls for the university to take the initiative in proposing contracts
for technical aid abroad. If the University desires and can provide advisory,
teaching and research services in several fields to a given foreign country, it may
so indicate to the Foreign Operations Administration, through which service a
contract may be negotiated, Services may be provided in several broad fields
such as agriculture, home economics, engineering, public health, public educa-
tion, public finance, marketing, public administration, social welfare, et cetera.
A given university may work up projects within these broad fields, to be con-
sidered by the Foreign Operations Administration.

       It is not expected that the advisory, teaching and research services which
may be renderedc by a university in the United States, will cost the university
anything at all from its own budget. The negotiated contracts should allow for
ample administrative costs, travel, insurance, salary, necessary equipment,
et cetera, and funds based upon a negotiated three-year contract may be deposited
with the university upon official approval of the three -year contract. Several
universities in the United States now have contracts for services in some of the
foreign countries.

       President Donovan stated that the University might offer its services in
some of the broad fields included. Various members of our staff have had ex-
perience in some countries in the Middle East, stth as Turkey, Egypt and Greece,
and are qualified to assist in services abroad.

       President Donovan recommended that, if the members of the Board of
Trustees thought the University of Kentucky might offer its services to the Foreign
Operations Administration, authority be given the administrative officials to con-
tact the Foreign Operations Administration and explore, propose, accept and
execute contracts for technical aid abroad.

       Members of the Board discussed the broad aspects of the United States
Government program in countries outside the United States, and upon motion duly
made, seconded and carried, the University administration was authorized to
explore, propose, accept and execute contracts for technical aid abroad which
the University might render through its staff,



       F. Girls' Dormitor

       President Donovan reported that the Board of Trustees had had before it
the question of constructing a girls' dormitory. He related that a loan agreement
for $722, 000, 00 had been consummated with the Housing and Home Finance Agency
of the Federal Government,




 







16



       The President stated that a gift from the Keeneland Foundation not to
exceed $200, 000. 00 would be used towards supplementing funds available for
the construction of the girls, dormitory, and the University would make avail-
able from operating funds of the women' s residence hall additional funds re-
quired to construct and equip the new proposed women' s residence hall designed
by Frankel and Curtis, architects.

       Members of the Board received the information enthusiastically, and
upon motion duly made, seconded and carried, authorized the President to cause
plans and specifications to be submitted to the Housing and Home Finance Agency
of the Government for final approval and authorization for advertisement; to
request of the State Property and Building Commission approval; and request
for bids for construction, and to expedite awarding of the contract in so far as
possible,



       G. Economic Status of University Personnel.

       President Donovan stated that he had received from a committee of the
American Association of University Professors of the University of Kentucky a
very fine documented report on the economic status of the University professor.
He read at length from a statement he had prepared, and from the report, and
requested that they be received and made a part of the minutes.


        THE ECONOMIC STATUS OF THE UNIVERSITY PROFESSOR



        Both law and custom require the president of the University to make an
annual report to the Trustees and the general public on the state of the Univer-
sity.  At this time I have elected to report to you on the economic status of
the professor at the University of Kentucky, While the University always has
problems in need of solution, I regard the low economic status of our professors
as the most vital of all the issues facing the University today.

       In spite of a number of small increases in salaries the Board has made
to our professors and staff during the last decade the professor today finds
himself poorer in terms of purchasing power than he was at the beginning of the
Second World War. He is compelled to eat cheaper food, wear his old clothes
longer, take longer to pay for his home, if he is fortunate enough to have one,
or do what a number of professors at the University have decided to do--live
under sub-standard conditions in Shawneetown or elsewhere,  His financial
worries often affect his morale; they tend to make him less effective as a teach-
er and research worker. Very frequently he becomes unhappy, sometimes bit-
ter.  Many men seek jobs that pay more in industry or government or at
another university.  A study of our turnover in personnel at the University
is alarming; no business could prosper if it changed employees at the rate the
University is compelled to do.

       The quality of a university does not depend primarily on the excellerne
of its buildings and equipment but upon the character and quality of its profes-
sors.  The faculty makes a university; there is no substitute for great




 







16a



teachers. No man can do his best work if he is constantly under economic pres-
sure and I fear this is the case with many of our teachers.,

       The problem of turnover in personnel is critical.  During a recent year
we lost thirty-eight of our very excellent teachers. Within the past month Duke
University claimed one of our best men and Michigan State another.  One of
these men is to receive $1800 and the other $2000 per year more than we are
paying them. We cannot fill these positions with men of the quality we are los-
ing at the salaries we are now paying.  This sort of thing is gradually bleeding
the University of its vitality. It cannot go on indefinitely without seriously af-
fecting the quality of our University. It is a serious matter for the state for it
is here on this campus that most of its future leaders must be developed,

       There is no position that requires a longer period of preparation, probably
with the single exception of medicine, than that of the college teacher.  The pro-
fessor must have his Ph, D. degree from a reputable university and this requires
from seven to ten years of college work above high school graduation.  He is
then advanced very slowly through the ranks: instructor, assistant professor,
associate professor, to professor.  He is usually forty-five to fifty-five years
old before he reaches the top.  Today after this long period of preparation and
slow advancement he looks around to discover he is earning no more than a
bricklayer, a plumber, or an electrician on a construction job.  How can he
in good faith be happy regarding his situation or advise his most capable students
to prepare themselves for the teaching profession that requires so much and
returns so small a financial reward?

       I am aware that there is no immediate solution to this problem.  Finan-
cial relief for our professors will take time.  However, the Trustees and the
general public must be aware of the problem and the challenge it presents must
be courageously