xt7jws8hfb37 https://exploreuk.uky.edu/dips/xt7jws8hfb37/data/mets.xml Lexington, Kentucky University of Kentucky 19550111 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, 1955-01-jan11. text Minutes of the University of Kentucky Board of Trustees, 1955-01-jan11. 1955 2011 true xt7jws8hfb37 section xt7jws8hfb37 Irregularities Minutes of the Meeting of the Board of Trustees of the University of Kentucky, January 11, 1955. The Board of Trustees of the University of Kentucky met in the Presi- dent, s Office at 10:15 a. m. , CST, pursuant to adjournment of the meeting of the Board of Trustees, December 14, 1954. The following members were present: Guy A. Huguelet, Vice Chairman; Dr. Ralph J. Angelucci, Carl Dempewolfe, Ben S. Adams, M. W. Moore, Harper Gatton, R. P. Hobson and J. Stephen Watkins. Absent: Governor Lawrence W. Wetherby, Chair- man; Mrs. Paul G. Blazer, Paul M. Basham, Wendell P. Butler, Smith D. Broadbent and Thomas A. Ballantine. President H. L. Donovan and Secretary Frank D. Peterson were also present. A. J. Stephen Watkins New Member. Mr. J. Stephen Watkins, appointed to succeed Herndon J. Evans as a member of the Board of Trustees, was present and qualified by taking the oath of office. He was welcomed as a new member of the Board of Trustees. His term of office will expire December 31, 1957. B. Approval of Minutes. On motipn duly made, seconded and carried, the minutes of the Board of Trustees of September 21, 1954, and the minutes of the Executive Commit- tee of November 23, 1954, were approved as published. C. Report of the Comptroller. The Comptroller submitted financial statement, consisting of a balance sheet of University funds, together with statements covering its fund transac- tions for the period of six months ended December 31, 1954. A summary of the funds revealed that the University' s income from general fund sources for this period amounted to $6,191,607.52, or 73. 11% of the budget estimate of $8,468,952.95. The plant fund income received totaled $96,483. 86, which is 56. 72%6 of the budget estimate. The expenditures, including the encump brances outstanding for general fund purposes, totaled $4, 058,598. 33, which is 46. 99% of the departmental appropriations approved in the amount of $8,636,420. 77. Plant fund expenditures and encumbrances amounted to $188, 750. 16, or 33. 66% of the $560, 771.44 budget estimate. University of Kentucky BALANCE SHEET As of December 31, 1954 ASSE TS Current Funds: General Cash in Bank Petty Cash Fund State Allotments Current Year Prior Year Revolving Funds Inventories Deferred Chgs. Unreal. Income Total General Res tricted: Cash in Bank Petty Cash Advs. Inve stments Total Restricted Total Current Plant Funds: Unexpe-nded: Cash in Ba* Revolv. Funds Due from Other Govt. Units Unreal. Income Total Unexpended Investment in Plant: Construction Author. Fixed Assets Total -Inve s ted Total -Plant Other Funds: C;-ash inank Notes Receiv. Inve stments Total Other Funds Total Assets Division of Agricultural Experiment Agricultural Extension Collegs S tation Division Total $ 31,598.33 $ 110,111.68 $ 185,579. 47 $ 327,289.48 40, 000. 00 10,000. 00 50,000. 00 1,166,011.07 232,280.99 192,763.29 1,591,055.35 2,599.00 2,599.00 1,007,867.88 436,166.80 1,444,034.68 265,817.41 265,817.41 52, 666.20 52,666.20 1,064,422.09 464,578.57 748,344.77 2,277,345.43 $ 3,628,382.98 $1,255,737. 04 $ 1, 126,687. 53 $ 6,010,807.55 $ 914,185.54 $ 138,383. 25 $ 106,421. 79 $ 1,158,990.58 4,270.00 800. 00 2,800. 00 7,870.00 797,527.27 15,000. 00 14,948. 00 827,475.27 $ 1,715,982.81 $ 154,183.25 $ .124,1.O9.79 $ 1,994,335.85 $ 5,344,365.79 1,409,920. 29 1,250,857.3Z 8, 005, 143.40 $ 23,013.34 $ $ $ 23,013.34 845,237.45 99,892.29 945,129.74 275,000. 00 Z75,000. 00 73,623.02 73,623.02 $ 1,216,873. 81 $ 99,892.29 $ $ 1,316,766.10 $ 1,577,080.19 $ $ $ 1,577,080.19 30,273,614. 87 3,049,290. 31 33,322,905.18 $ 31,850,695.06 $3,049,290.31 $ $34, 899,985.37 3 33, 067, 568.87$3, 149 ,182.60$ $36, 216,751.47 Loan Endowment A enc $ -8,88. 41 $ $ 4423F $ 456$ 67,7Z7.13 19,840.49 19,840.49 75,500.00 200,714.48 15,000.00 291,214.48 $ 104,198.90 205,137.64 $ 69,445.56 $ 378,782.10 $44, 600,676.97 2 University of Kentucky BALANCE SHEET As of Decemker 31, 1954 LIABILITIES Agricultural Experiment Station Agricultural Extension Division Current Funds: General: Petty Cash Liab. Res. for Encumb.: Current Year Prior Year Res. for Inventories Other Liabilities Unapprop. Surplus Approp. Bals. Total General Res tric ted: Otstanding Checks Restr. Bals. Total Restr. Total Current Plant Funds: Unexpended: R8. for Mncumnbr. Current Year Prior Year Approp. Bals Total Unexpended Investment in Plant: Due to Other Govt. Units Bonds Payable Net Invested Total Invest. Total Plant Other Funds: Bal. as to Prin. Bal. as to Income Total Other Funds Total Liabilities $ 40,000. 00 330, 158. 24 52,560. 42 265,817.41 52,666. 20 278,516.47 $ 10,000. 00 $ 47,130. 14 4,291. 74 351,844.49 $ 50,000. 00 377,288.38 56,852. 16 265,817.41 52,666. Z0 630,360.96 2,608 ,664. 24 842,470.67 1,126,687.53 4,577,822.44. $3, 628,382. 98 $1,255,737.04 $1, 126, 687. 53 $ 6,010,807.55 $ 6,432.52 $ $ $ 6,432.52 1,709,550. Z9 154,183.25 1 24,169.79 1,987,903.33 $1,715,982.81 $ 154,183.25 $ 124,169.79 $ 1,994,335.85 $5, 344, 365.79 $1,409,920.29 $1,250,857.32 $ 8,005,143.40 $ $ 38,313.93 $ $ 38,313.93 894,930.89 11,500.00 906,430.89 321,942.92 50,078.36 372,021.28 $1,216,873.81 $ 99,892.29 $ $ 1,316,766.10 $ 275,000.00 $ $ $ Z75,000.00 3,935,000.00 3,935,000.00 27,640,695.06 3,049,290.31 30,689,985.37 $31,850,695.06 $3,049,290.31 $ $ 34,899,985.37 $33,067,568. 87 $3,149,182.60 $ $ 36,216,751.47 Loan Endowment Agenc $ TS7;6. 01 $ 2 01,6T1 C4 $ $ 274,9.72.65 30,842.89 3,521.00 69,445.56 103,809.45 $ 104,198.90 $ 205,137.64 $ 69,445.56 $ 378,-782. 10 $ 44,600,676.97 Division of Colleges Total = University of Kentucky STATEMENT OF UNREALIZED INCOME For the Current Fiscal Period which began July 1, 1954 and ended December 31, 1954 General Fund Budget Estimate Realized to Date Unrealized Balance Division of Colleges: Eauctioa;inYeneral: State Appropriations Federal Grants (through the State) Student Fees Endowment Income Sales and Services and Rentals Subtotal Auxiliary Enterprises Total-Colleges Agricultural Experiment Station: state Appropriations ' Federal Grants (direct) Sales and Services Total-Experiment Station Agricultural Extension Division: State Appropriations Federal Grants (direct) Total-Agricultural Extension Total General Plant Fund: Debt Service Income Total -Plant Combined Total $3,485,850.00 $3,000,000. 00 $ 485,850.00 131,465.60 84,965.60 46,500.00 808,000.00 456,953.20 351,046.80 9,644.50 9,200.00 444.50 25,000.00 7,841.02 17,158.98 $4,459,960.10 $3,558,959.82 $ 901, 000.28 79. 80%6 $ 367,538.00 $ 204,116, 19 $ 163,4Z1.81 55. 5476 $4,827,498. 10 $3,763,076.01 $1,064,422.09 77.95 % $ 580,300.00 $ 554,300.00 $ 2 6,000. 00 524,115.30 300,407.65 223 ,707.6S 450,000.00 235,129.08 2l4,870.9e $1,554,415.30 $1,089,836.73 $ 464,578.57 70. 11% $ 681,050.00 $ 635,700.00 $ 45,350.00 1,405,989. 55 702,994.78 702,994.77 $2,087,039.55 $1, 338, 694. 78 $ 748, 344. 77 64. W4o $8,468,952.95 $6,191,607.52 $ 2,277,345. 43 73. 1 1%/ $ 170,106.88 $ 96,483.86 $ 73,623.02 56. 72%o $ 170,106.88 $ 96,483.86 $ 73,623.02 56. 7 Z76 $8,639, 059. 83 $6, 288,091.38 $2,350,968. 45 72. 79l-- UNIVERSITY OF KENTUCKY STATEMENT OF DEPARTMENTAL APPROPRIATIONS For the Current Fiscal Period which began July 1, 1954, and ended December 31, 1954 Dept. Approp. Expendi- tures Encum- brances DIVISION OF COLLEGES ADM. & GENERAL: Gen. Adm. Offices Student Services Staff Welfare Gen. Inst. Serv. SUBTOTAL INSTR. & RESEARCH COLLEGE OF ------- Agr. & Home Ec. Arts & Sciences Commerce Education Engineering Law Pharmacy Grad. School Org. Act. Rel. Edu. Research Libraries Adult & Ext. Edu. SUBTOTAL OTHER EXPENSES: Op. & Maint. Plant Auxiliary Ent. Working Capital Clearing Accts. SUBTOTAL TOTAL -COLLEGES $ 90,301. 00 196, 753. 01 65,000. 00 $ 46,239.42 98,928. 36 20, 290. 62 $ 1,260.50 1,120.73 $ 42,801. 08 96,703, 92 44,709.38 98,579. 22 31, 801. 60 7, 690.59 59,087. 03 $ 450,633.23 $ 197,260.00 $ 10,071.82 $ 243,301.41 46. 0176 $ 266,000.35 $ 115,774.91 $ 1,628.58 $ 148,596. 86 1,418,841.01 683,875. 84 9,371.50 725,593.67 190,396.00 92,511.82 156.77 97,727.41 325,205.83 148,118.66 7,067.98 170,019.19 362,129.56 167,974.37 3,547.41 190,607.78 84,973.00 38,100.36 1,200. 00 45,672.64 81,427.91 35,141.50 770. 12 45,516.29 11,575.00 5,989.39 43.98 5,541.63 26,541,00 13,577. 11 287.01 12,676.88 20,000.00 4,074.36 254.00 15,671.64 253,584.65 125,531. 73 1,669.39 126,383.53 147,853.89 73,310. 19 1,361.71 73,181.99 $3,188,528. 20 $1,503,980. 24 $ 27,358.45 $1,657,189.51 48. 0376 $ 990.795.00 $ 368,450.08 $196,030.59 $ 426,314.33 340,144.64 134,384.92 39,961.33 165,798.39 75,000.00 100,624.50* 55,858.05 119,766.45 2,827.85 878.00 3,705.85* $1,405,939.64 $ 405,038.35 $292,727.97 $ 708,173.32 49. 637Jo $5,045,101.07 $2,106,278.59 $330,158.24 $2,608,664. 24 48. 2971 *Negative number. Approp. Balance University of Kentucky SUMMARY OF DEPARTMENTAL APPROPRIATIONS For the Current Fiscal Period which began July 1, 1954 and ended December 31, 1954 General Fund Dept. Approp. Expendi - ture a Enc um - brances Agr. Exp. Station Adminis tration Agr. Economics Agron omy Animal Husbandry Animal Pathology Bryant Farm Creamery License Dairy Ent, & Botany Farm Maintenance Feed & Fertilizer Home Economics Horticulture Library Poultry Public Serv. Lab. Publications Robinson Forestry Robinson Substation Rural Sociology W. Ky. Substation Total $ 155,928.85 178, 295. 00 29.5., 166. 6 S 107,926. 00 59, 574. 00 5, 000. 00 9, 291.00 83, 749. 00 104, 330. 00 39, 008. 00 150, 000. 00 41,520. 00 42,425. 00 9,460. 00 47, 996. 00 8, 864. 02 23, 289. 00 8, 000. 00 22,400. 00 38,400. 00 73, 662. 00 $ 50,171.65 75, 3 78. 20 112,870, 34 56, 016. 27 26,322. 64 4,531. 02 41.087. 30 44, 588. 67 22,942. 83 59,899.41 9, 770. 71 18,473. 09 5, 213. 28 17,638. 16 1,528.98 9,686. 79 1, 651. 59 7, 573. 75 17, 189. 92 32,144. 74 $ 6,490.79 $ 99,266.41 102,916. 80 8,427. 97 173, 863.97 3, 047. 25 48,862. 48 33, 251. 36 5,000. 00 4,759.98 1,Z69.98 41,391. 72 952.91 58,788.4Z 5,978. 69 10, 086.48 14, 273. 63 75, 826. 96 151.74 31,597.55 181.20 Z3, 770. 71 6. 20 4, 240.52 3, 004. 65 27, 353. 19 7, 33 5. 04 21.30 13,580.91 465.24 5,883.17 903.21 13,923.04 56.00 21,154.08 1,899.38 39,617.88 $1,504,280.15 $614,679.34 $ 47,130. 14 $842,470.67 44. 0 0fio Free Balance 6 University of Kentucky SUMMARY OF DEPARTMENTAL APPROPRIATIONS For the Current Fiscal Period which began July 1, 1954 and ended December 31, 1954 General Fund Dept. Approp. Expendi - tures Encum - brances Free Balance Agricultural Extension: Administration Adm. Reserve Agr. Engineering Agronomy Animal Husbandry Clothing County Agents Dairy Farm & Home Conv. Farm and Home Dev. Foods Forestry Home Dem. Agents Home Management Horticulture Junior Clubs Markets Poultry Public Information Rural Sociology Total $ 45,547.00 5,000.00 31,770. 00 62, 837.50 30,900.00 13,200.00 863,892.00 36, 467. 00 1,500. 00 145,085.05 12, 000.00 11, 736.00 547,580.00 30,500.00 21,671. 00 89,706.00 38,514.00 31,900.00 61,034.00 6,200.00 $ 19,202. 89 13,657. 05 30,159. 42 14,945. 73 6,352. 19 423,735. 53 15,618.97 15. 25 35,499. 63 5,760. 07 5,819.93 265,529.82 11,816. 48 10,696. 18 45,613. 34 14,438.57 11,059. 46 27,192.83 3,238. 68 $ $ 26,344.11 5,000. 00 18, 112.95 32,678. 08 15,954.27 6,847. 81 440, 156. 47 20,848. 03 1,484. 75 109,585.42 6,239.93 5,916. 07 282, 050. 18 18,683.52 10,974. 82 44,092.66 24,075.43 20,840. 54 33,841. 17 2,961. 32 $2,087,039.55 $960,352.02 $ $1,126,687.53 46. 02T7o COMBINED TOTALS $8,636,420. 77 $3,681,309.95 $ 377,288.38 $4,577,822.44 46.99%o UNIVERSITY OF KENTUCKY STATEMENT OF PLANT FUND APPROPRIATIONS For the Current Fiscal Period which began July 1, 1954, and ended December 31, 1954 Dept. Expendi- Encum- Approp. tures brances Division of Colleges Retirement of Indebtedness lstW.P.A. BondIs. 2nd W. P. A. Bond Is. Dorm. Rev. Bond Is. Audit-Field H. Issue Lib. & Serv. Bldg. Issue Stad. Add. Issue Dorm. Rev. Issue (456 Rose) Jour. Bldg. Bond Issue Dorm. Rev. Issue (476 Rose) Stud. Dorms. U. K. Stud. Dorm. -Kappa Sig- ma Stud. Dorm. -Lambda Chi Stud. Dorm. -Phi Sigma K Stud. Dorm. -Pi K A Dorm. Rev. Bond 1952 Dorm. Rev. Bond 1954 Lib. & Serv. Bldg. Res. TOTAL-Retirement of Indebtedness $ 36,915.02 15,902.41 24,914. 25 59, 185. 01 44,679. 02 20, 159. 70 7,892.68 15,916. 75 7,161.93 14,083.64 10,410. 26 9,280.26 9,845.26 9 , 840. 79 13,545.00 427. 87 37,618.58 $ 2,397.50 7,948.28 3,522,50 49,229.47 $ $ 34,517.52 7,954. 13 21,391.75 9,955.54 5,942.50 3,431.25 38,736.52 16,728,45 3,462. 50 13,488. 75 4,430. 18 2,428. 00 3,032.50 4,003. 74 4,129.43 10, 079.90 2, 001. 88 8,408.38 2, 001. 88 7, Z78. 38 2, 001. 88 2,001. 87 13,545.00 7,843. 38 7,838.92 427. 87 37.618. 5a 337,778.43 $118,011.50 $ $219,766.93 34. 94% 7 Free Balance 8 UNIVERSITY OF KENTUCKY STATEMENT OF PLANT-FUND APPROPRIATIONS Division of Colleges For the Current Fiscal Period which July 1, 1954 and ended December 31, Expendi- ture s Dept. Approp. began 1954 Encum- brances Free Balance Construction: Dicker House Annuity Norwood Hall Fire Loss Men, s New Dorm. Service Building Fine Arts Building Journalism Building New Science Bldg. Sprinkler System Women' s New Dorm. TOTAL-Construction TOTAL-Plant Funds - Division of Colleges $ 230. 68 15,911. 25 2,568. 25 3,697. 19 2, 156.47 7,938. 69 3, 300. 00 4,443. 32 $ $ $ 230.68 15,911. 25 2, 568. 25 3,697. 19 2,156. 47 7,938, 69 3,300. 00 4,443. 32 85, 820, 94 23, 890. 80 61,930. 14 $ 126, 066. 79 $ 23,890. 80.- $ $102,175.99 18. 95% $ 463,845.22 $ 141,902.30 $ $321,942.92 30. 59 /i UNIVERSITY OF KENTUCKY STATEMENT OF PLANT APPROPRIATIONS FOR THE CURRENT FISCAL PERIOD WHICH BEGAN July 1, 1954 and ended December 31, 1954 PLANT FUNDS Agr. Experiment Station: Dept. Approp. Expendi - tures Encum- brances Repairs and New Equip- ment Total Plant Funds Agr. Exp. Station COMBINED TOTALS $ 96,926.ZZ $ 8,533.93 $38,313.93 $ 50,078.36 $ 96,926. 22 $ 8, 533.93 $38, 3 13. 93 $ 50,078.36 48. 33% $ 560, 771. 44 $150,436.23 $38, 3 13. 93 $372,021.28 33. 66% Free Balance University of Kentucky STATEMENT OF OTHER FUND TRANSACTIONS For the Current Fiscal Period which began July 1, 1954 and ended December 31, 1954 Restricted Funds: Div. of Colleges Agr. Exp. Station Agr. Ext. Div. Subtotal Loan Fund: Princip-al7 Income Subtotal Endowment Funds: Principal Income Subtotal Agency Funds: Balances Combined Totals Balance Disburse - Balance July 1, 1954 Receipts ments Dec. 31, 1954 $1,69 2, 383. 20 $1,334,041.10 $1,316,874.01 $1, 709,550.29q 124, 206. 45 136, 139. 16 106,162. 36 154,183. 25 135,345. 34 49,423. 50 60,599. 05 124,169. 79 $1,951,934.99 $1, 519, 603. 76 $1,483,635.42. $1,987,903-33 $ 73, 316. 01 $ 40. 00 $ $ 7 3, 356. 01 29, 959. 98 901. 96 19. 05 30,842. 89 $ 103,275.99 $ 941. 96 $ 19. 05 $ 104,198.90 $ 201,616.64 $ $ $ 201,616. 64 3, 049. 03 546.9 7 75. 00 3,521. 00 $ 204,665.67 $ 546. 97 $ 75. 00 205, 13 7.64 $ 88, 320. 43 $ 252,032.51 $ 270,907. 38 $ 69,445. 56 $2,348,197.08 $1, 773, 125. 20 $1,754,636.85 $2,366,685.43 .11 University of Kentucky STATEMENT OF COMBINED RECEIPTS AND EXPENDITURES For the Current Fiscal Period which began July 1, 1954, and ended December 31, 1954 Receipts and TransfersE: General Income Plant Income Restricted Receipts Loan Fund Receipts Endowment Fund Receipts Agency Fund Receipts Total Receipts $6, 191,607. 52 96,483. 86 1,519,603.76 941.96 546.97 252, 032.51 $8, 061, 216. 58 Expenditures and Transfers (including Encumbrances): General Fund Expenditures Plant Fund Expenditures Restricted Fund Expenditures Loan Fund Expenditures Endowment Fund Expenditures Agency Fund Expenditures Total Expenditures $4, 058, 598.33 188, 750. 16 1,483, 635. 42 19. 05 75. 00 270,907.38 $6. 001,985. 34 13 Upon motion duly made, seconded and carried, the Financial Report, as submitted by the Comptroller, was authorized received and made a part of the minutes. D. Approval of State Requisitions and Purchases. President Donovan submitted letter from the Comptroller listing docu- ments evidencing purchases made in behalf of the University. The letter was read, as follows: January 5, 1955 Dr. H. L. Donovan, President University of Kentucky My dear President Donovan: I submit a list of state requisitions, advices of emergency purchases, University Special Orders, vouchers, stores vouch- ers, and job-order vouchers which have been made by the Purchasing Division from October 1, 1954, through December 30, 1954, 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, vouchers, stores vouchers and job-order vouchers, 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. State Requisitions numbered 307 through 561 Emergencies 65 through 136 Special Orders 5413 through 6500 Vouchers 1 through 2909 Stores Vouchers 384 through 833 Job-Order Vouchers 2533 through 2844 The foregoing record of purchases is respectfully submit- ted with the request that they be approved by the Board of Trustees, thereby ratifying the action of the Comptroller in making the pur- chases. Respectfully submitted, (Signed) Frank D. Peterson Comptroller 14 Upon motion duly made, seconded and carried State Requisitions numbered 307 through 561 Emergencies 65 through 136 Special Orders 5413 through 6500 Vouchers i through 2909 Stores Vouchers 384 through 833 Job-Order Vouchers 2533 through Z844 were ratified and approved. E. Budget Changes. President Donovan read a list of changes in University budgets which indicated a net decrease of $763. 75. He recommended that the changes be authorized and the list of changes filed with the Secretary of the Board. Upon motion duly made, seconded and carried, budget changes as reported were authorized made, showing a decrease in University budgets of $763. 75. The Comptroller was authorized to make the necessary budget adjustments. F. Appointment of Executive Committee. It was called to the attention of the Board that it was customary to appoint an Executive Committee from the membership of the Board of Trustees. Upon motion duly made, seconded and carried, Harper Gatton, Smith D. Broadbent, Dr. Ralph J. Angelucci, R. P. Hobson and Guy A. Huguelet were nominated as members of the Executive Committee of the Board of Trustees. There being no other nominations, each was declared elected as a member of the Executive Committee. G. Appointment of Vice Chairman of the Board of Trustees. It was called to the attention of the Board of Trustees that, in addition to the Governor of the Commonwealth being ex officio Chairman of the Board of Trustees, a Vice Chairman is elected by the Board of Trustees. Upon motion duly made, seconded and carried, Mr. Guy A. Huguelet was elected Vice Chairman. H. Report of Cooperstown Housing Project. President Donovan stated that he had asked Mr. Ernst V. Johnson, member of the architectural firm of Brock and Johnson, Architects, to make a report of progress of plans and specifications for the Cooperstown apart- ments. Mr. Johnson was invited to come before the Board, and he made a brief report to the effect that plans and specifications for the development of Cooperstown apartments are progressing according to schedule. It was the present plan to advertise for bids for the construction of the apartments in March, 1955, in order to submit the bids to the Board of Trustees at its meeting on April 1. The report was received, and upon motion duly made, seconded and carried, was authorized noted in the Minutes. I. Woment s Residence Hall. Mr. Johnson reported that floor plans were being developed for another women' 8 residence hall to be located on a site parallel to Limestone Street and opposite an existing women' s residence hall, He stated that considerable preliminary study had been made and several meetings held with representa- tives of the University, and that the architects were in position to go forward with plans and specifications. Upon motion duly made, seconded and carried, the report was received, and the architect was authorized to develop plans and specifications as speed- ily as possible. J. Annual Report of the President. President Donovan submitted the Annual Report of the President for 1953-54. He distributed a printed bulletin of the University entitled "Build- ing for Tomorrow. "1 He asked members of the Board to read the Report in its entirety, and called especial attention to the table on page 5, showing a loss of 260 professors, associate professors and assistant professors from 1941 to 1954. He deplored the loss to the University of qualified and capable teachers, stating that the resignation of so many competent person- nel was not only a distinct loss to the University but also a loss to the State of Kentucky. He referred to a 10% increase in the enrollment of the current academic year over the fall semester of 1953. Other sections of the Report were scanned, and members given copies to take with them. A general discussion of various sections of the Report followed, and upon motion duly made, seconded and carried, the Report was authorized received and filed. K. Annual Audit oi the University of Kentucky. President Donovan reported receipt of an audit of accounts and records of the University of Kentucky for the fiscal year 1953-54 by the Auditor of Public Accounts. The examination was made by Dudley H. Starns, Sam Stacker and James Rousseau, and was supervised by T. H. Tinsley, Auditor of Public Accounts. The Report stated the accounts showed that the Uni.- versity and its fiscal agencies operated in accordance with statutory requirements in the year ended June 30, 1954, and that the records of the University were well maintained under a system of accounting adopted under University requirements and generally accepted as standard for such insti-, tutions. President Donovan made the Report available to members of the Board and requested that it be examined. Leave was given to any member to take the Report home for study. L. Lease of Kentucky Utilities Company Land. President Donovan stated that the lease from the Kentucky Utilities Company of about 400 acres of land, heretofore informally reported to the Executive Committee, was ready for consummation. He stated that the Kentucky Utilities Company owned about 400 acres of land situated in Mer- cer County, Kentucky and had offered to lease the land to the University of Kentucky for a period of 21 years, without cost to the University. The premises are to be used by the University for educational agricultural re- search, testing and demonstration purposes, having as goals increasing the productivity of Kentucky agriculture and improving the living conditions of farm people. President Donovan read the following letter received from Frank J. Welch, Dean and Director of the Agricultural Experiment Station and the College of Agriculture and Home Economics, recommending approval of the lease. January 6, 1955 President H. L. Donovan University of Kentucky Dear President Donovan: You will find herewith attached copy of lease between the Kentucky Utilities Company and the Board of Trustees of the University of Kentucky, making available to us a farm of approx- imately 400 acres on a 21-year lease basis without cost to us. As the lease will indicate, this farm is located at the Dix Dam in Mercer County and will make possible the partial closing of a gap in our present research and demonstration program on the various soil types of the state. As you know, our basic, fundamental work is done here on our own Experiment Station farm and the basic work can be done here as satisfactorily as at any location. However, the problems peculiar to the dif- ferent soil types of the state and varying climatic influences can- not be done satisfactorily except on the specific soil types in the different sections of the state. 17 This gratuity farm from the Kentucky Utilities Company will contribute materially to our over-all research and demonstra- tion program and will contribute much, I am sure, to the develop- ment of a more productive and more profitable agriculture for our people as a whole. I am delighted indeed that this property has been made available to us and we are now busily engaged in formulating long- range plans for the most effective utilization of these acres. Included on the farm are a number of residences and other utility buildings that will make it possible for us to operate the farm with a minimum expenditure on building facilities. I recommend this proposed lease to you and members of the Board without reservation as a distinct step toward rounding out our total research and educational program of activities. Sincerely yours, (Signed) Frank J. Welch Dean and Director The Board discussed the lease, and upon motion duly made, seconded and carried, the ]ease was authorized executed on behalf of the University by the Vice Chairman and Secretary. M. Alurtmi Election. President Donovan read the following letter from the Comptroller, who reported on the results of an election held among the alumni of the Uni- versity. December 17, 1954 Dr. H. L. Donovan, President University of Kentucky My dear President Donovan: Pursuant to rules and regulations cof the Board of Trus- tees, an election has been held among the alumni of the Universi- ty of Kentucky with the following result. 18 Name No. of Votes Guy A. Huguelet 2,103 Marshall Barnes 8, 776 William B. Sturgill 1,434 Herndon J. Evans 1,317 0. L. McElroy 1,143 J. David Francis 970 For the record, I also submit on attached sheet the names of those receiving write-in votes. Will you please request au- thorization of the Board of Trustees for authority to certify the names of the three nominees receiving