Minutes of the Regular Meeting of the Executive Committee of
the Board of Trustees of the University of Kentucky, May 16, 1941,


     The Executive Committee of the Board of Trustees, University
of Kentucky, met in the President's Office, University of Kentucky,
Friday, May 16, 1941, conveningt 10:30 a.m.    The members of the
Committee present were Judge Richard C. Stoll, Chairman; H. S. Cleve-
land  Lee Kirkpatrick and Robert P. Hobson.   President Thomas Cooper
and f. H. Peak, Secretary of the Board, were present.   On invita-
tion, President-elect, Dr. H. L. Donovan, attended the meeting.


     1. Approval of Minutes.

     The minutes of the meeting of the Executive Committee of April
22, 1941, were approved as published.   All actions of the Committee
taken ant motions made and carried at that meeting were ratified
and approved.


     2. Financial Rpport.

     The Business Agent submitted the financial r eport for April
1941.   The report was ordered filed, and the summary thereofs or-
dered published in the minutes, reads as follows:


        FINANCIAL REPORT FROM JULY 1, 1940, TO APRIL 30, 1941


                        Operating Accounts

Budgeted Income - - - - - - -                        $1,495,673.74
Estimated Reduction in Budgeted Income  - - - - - -     131029.40
Balance - -  - - - - - - - - - - - - -- - - - - - -   1482,673.74
Salaries and Other Commitments  - - - - - - - - - -   1.113.260.19
Available for Expense, Supplies & Equipment   - - -     369,413.55
Expended to April 30, 1941 -                            3 - - - - - - - - - -- 312,833.77
Unencumbered Balance            - - - - - - - - - -      56,579.78


                          Patterson Hall

Budgeted Income - - - - - - - - - - - - - - - - -        99,980.00
Salaries and Other Commitments   - - - - - - - - - -     19.550.00
Available for Expense, Supplies & Equipment   - - -      80,430.00
Expended to March 31, 1941                               60.018.57
Unencumbered balance - - - - - - - - - - - - - - - -     20,411.43