xt7mkk948146 https://exploreuk.uky.edu/dips/xt7mkk948146/data/mets.xml Lexington, Kentucky University of Kentucky 19510718 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, 1951-07-sep18. text Minutes of the University of Kentucky Board of Trustees, 1951-07-sep18. 1951 2011 true xt7mkk948146 section xt7mkk948146
Irregularities
Minutes of the Meeting of the Board of Trustees of the Uni-
versity of Kentucky, September 18, 1951.
The Board of Trustees of the University of Kentucky met in
the President's Office at 10:00 a.m., Tuesday, September 18, 1951,
The following members were present: Guy A. Huguelet, HR P. Hobson,
J. C . Everett, H-. D. Palmore, Ben S. Adams, Paul M. Basham, Harper
Gatton, J. Woodford Howard, Boswell B, Hodgkin, Herndon J. Evans,
George M. Cheek, Carl Dempewolfe, and Dr, W. M, Coffee. Absent *
Governor Lawrence W. Wetherby and Mrs. Paul G, Blazer. President
Donovan and Comptroller Frank D. Peterson met with the Board.
A. Minutes Approved.
The minutes of the Board of Trustees of June 1, 1951, and the
minutes of the Executive Coimriittee of July 21, 1951, were approved
as published,
B. t~port of the Coptroller.
The Comptroller made financial report for the months of July
and August, consisting of balance sheet of University funds, with
supporting statements of budget and fund operations for the period.
1Is
UNIVERSITY % OF KENTUCKY
LEXINGTON
September 12, 1951
Dr. H. L. Donovan, President
University of Kentucky
Lexington, Kentucky
My dear Doctor Donovan:
I submit hereto attached the financial report of the University
of Kentucky for the period July 1, 1951, through August 31, 1951.
The report consists of a balance sheet of University funds as of Au-
gust 31, 1951, together with supporting statements of budget and
fund operations for the period then ended.
The statement of unrealized income shows income realized during
the period amounted to $2,409,132.73, which is 34.58% of the budget
estimate of $6,966,854.64. The statement of departmental appro-
priations shows expenditures and encumbrances during the period
amounted to $1,226,049.18, which is 17.06% of the departmental ap-
propriations of $7,187,419.70.
The unappropriated surplus as of August
the following:
Division
of
Agr.Exper.
-Station
31, 1951, consists of
Agr. Ext.
Division
Total
General Fund
Plant Fund
Total
Colleges
$ 498,698.71 $ 253,902.94
1,69,482.54 501.79*
$ 253,401.15
$ 2,619.96 $ 755,221.61
168,980 75
$ 2,619.S96 $ 924202.36
*Temporary deficit.
Other fund balances on August 31, 1951, were as follows:
Restricted Funds
Loan Funds
Endowment Funds
Agency Funds
Total
prial Income Total
$ $1,718,955.12 $1,718,955.12
62,797.61 22,879.10 85,676.:T
200,228.18 2,630.42 202,858.60
68,111.23 68,111.23
26.~ 1:b2.
Respectfully submitted,
Frank D. Peterson, Comptroller.
University of Kentucky
BALANCE SHEET
As of August 31, 1951
A S S E T S
Agricultural
Experiment
Station
Agricultural
Extension
Division
Current Funds:
General
Cash in Bank
Petty Cash Adv.
State Allotments
Current Year
Prior Year
Revolving Funds
Inventories
Deferred Charges
Unrealized Inc.
Total General
Restricted:
Cash in Bank
Petty Cash Adv.
Investments
Total Re-
stricted
Plant Funds:
Unexpended
Unrealized Inc.
Total Expended
$ 63,oO05.1~
946. 15
416,431.50
25,51 *.33
1,1o5,(56.43
504, 1'. .02
111,76c .20
2,670,471.19
$5,076,977 .93
624,446.25
11,973.2U
668,251.49
$1,524,673.02
$ 127,160.73
251,760.50
$ 376,921.23
Investment in Plant:
Fixed AsseTs . 52
Total Invest. $2500; 431.7'2
Total Plant , 5C.352-
$ 73,523.26
i96,211.35
6,452.17
311,405.00
41,693.00
7-7,22 6.97
$1,416,513.77
$ 39,240.65
400.00
15,000.00
$ 54, 640. o5
$ 145,005.63
$ 145, 05.63
32711,576.99*
$2 ,7 11, 5 777* S7
$2,b 57,v3S2. b2
$ 374,074.29
60,579.11
765.78
o48,261.25
$ 611,402.68
946.15
673,221.96
34,736.26
1,497,26i.43
545,874.02
111,76 .20
4,305,961.41
$1 ,223,660.43 $7,7b1,172.13
$ 1461,271.57 $1,009,960.67
12,373.28
703,251 .4.9
$ 146,271.57 $1,725,585.44
$ $ 272,966.36
251,760.50
$ $ 524,726.86
$ $~~31,v292, oo8 ,71
$ $~~31 ,292,v003.71
$ $~~~3ivbib,735 57
Other Funds:
Cash TH Bank
Notes Receivable
Investments
Total Other
Funds
Loan
$ 4,42&6.66
5,748*05
75,500.00
$ 5, 676.71
Endowment
Agency
$ 3,276.64 $ 53,111.23 $
60,816.53
5,74o .05
199,581,96 15,000.00 290,0.1.96
$ 202,658.60 $ 6O,111.23 $ 356,646.54
Total Assets
$41,60, 139.68
*Change in Plant values for 1950-51 not recorded when this report was
prepared.
Division
of
Colleges
Total
University of Kentucky
BALANCE SHEET
As of August 31, 1951
L I A B I L I T I E S
Agricultural
Experiment
Station
Agricultural
Extension
Division
Current Funds:
Reserve fo-rEn-
cum brances:
Current Year $
Prior Year
Reserve for In-
ventories
Other Liabilities
Unappro.Surplus
Appro.Balance
Total General $
172,323.43
140,408.66
504,181.02
111,768.20
498,698.71
3,651,597.91
5,078,977.93
$
56,296.71
37,908.98
$
41,693.00
253,902.94 2,619.96
1,028,712.14 $1,2-81l,6o.47
$ 228,620.14
178,317.64
545,874.02
111,768.20
755,221.61
5,961,370.52
$ 1,418,513.77 $1,283,680.43 $ 7,781,172.13
Restricted:
Outstanding Chks.$
Restricted Bal.
6,630.32
1,516,042.70
'p
54,640.85
$
146,271.57
$ 6,630.32
1,717,955.12
Total Restrict.$ 1,524,673.02 $ 54,640.85 $ 146,271.57 $ 1,725,585.44
Plant Funds:
Unexpended:
Reserve for Encumb.:
Current-YearF$ $ 72.00 $ $ 72.00
Prior Year 51,824.52 29,381.02 81,205.54
Surpluis Funds 169,482.54 501.79* 168,90o.75
Appro.Balances 157,614.17 116,854.40 274,468.57
Total Unex-
pended $ 378,921.23 $ 145,805.63 $ $ 524,726.86
Investment in Plant:
Bonds PayablETe$2,871,500.00
Net Invested 25,708,931.72
Totai invest-
ment
Total Plant
Other Funds:
Bal. as to
Principal
Bal. as to
Income
Total Other
Funds
128, 58o 431.72
$2b,959,352 95
Loan
$ 62,797.61
22,879.10
4 85,676.71
$
$ 2,871,500.00
2,711,576.99 _28,420,508.'71
$ 2,711,576.99 $$31,292,008.71
$ 265738262 Ui1,bib35-5T
Endowment Agency
$ 200,228.18 $ $ 263,025.79
2,630.42 68,111.23 93,620.75
$ 202,858.60 68,111.23 $ 356,646.54
Total Liabil.
*Negative number.
$41,68,o139.68
Division
of
Colleges
Total
- -
University of Kentucky
STATEMENT OF UNREALIZED INCOME
For the Current Fiscal Year which Began
July 1, 1951, and Ended August 31, 1951
General Fund
Budget
Estimate
Division of Colleges:
Educational & General:
State Appropriations
Federal Grants (through
the State)
Student Fees
Endowment Income
Sales & Services
and Rentals
Subtotal
Auxiliary Enterprises:
Res idence Halls
Miscellaneous
Subtotal
Total-Colleges
Less
Income Allocated to
Plant
Net Colleges
$2,714,400.oo
127,617.87
893,670.00
9,644.50
Realized
to Date
$ 888,750.00
84,961.97
317,031.17
4,832.25
19,700.13 2,482.21
$3,765,032.50 $1,98,4057.60
34.4b7,
$ 327,`74.00 $ 17,240.14
116,930.50 1,350.07
$ 444 804.50 $ 18,590.21
$4,2091.8o11.47.8
_$1,209,837.00 $1,316,7.8
L222,718.00 $
U3,9b7,1i9.00 13667l
33.027-
Unrealized
F. lance
$1,825,650.00
42,655.90
576, 638.83
4,812.25
17,217.92
$2,466,974.90
$ 310,633.86
115,580.43
$ _426,214.29
$2,893,189.19
$ 2{22,718.00
$2, b70,471 77,
Agricultural Exp.Station:
State Appropriations
Federal Grants (direct)
Sales and services
Total-Agricultural Ex-
periment Station
$ 382,600.00
308,852.21
490,141.00
$1,181,593.21
$ 244,7418.oo
76,876.60
70,739.64
$ 137,052.00
229,975.61
419,401.36
$ 787,228.97
Agricultural Ext.Division:
State Appropriations $ 1400,000.00
Federal Grants (direct) 1,146,381.93
Total-Agricultural Ex-
tension $1,546,381.93
Total-General Fund
$6,715,094.14
Plant Fund
General Income Allocated $ 222,718.00
Stores Overhead 29,042.50
Total-Plant Fund
Combined Total
$ 126, 600.00
571,520.68
$ 698,20.68
45,1511
$2,409,132.73
35.88%
$ . 3.
. -.)o
$ 251,76o.50
$ 273,400.00
574,861.25
$ 848,261.25
$11,305,961.41
$ 222,718.00
29,042.50
$_ 251,760.50
$4,,557,72i.91
$ 394,364.24
33.3b7o
University of Kentucky
STATEMENT OF DEPARTMENTAL APPROPRIATIONS
For the Current Fiscal Year which Began
July 1, 1951, and Ended August 31, 1951
General Fund
Depart.
Appro.
Division of Colleges:
AdministFation &
General Expese:
Gen.Admin.Offices $ 205,075.00
Student Welfare 60,660.60
General Expense 841,497.00
Subtotal 7 350,232.5u
Instruction and Research:
College of:
Arts & Sciences $1,299,486.00
Engineering 362,719.00
Commerce 166,083.00
Agr. & Home Ec. 215,987.00
Law 71,546.00
Education 297,404.00
Pharmacy 76,269.00
Graduate 9,430.00
Univ.Research 24,000.00
Library 227,518.00
Univ. Extension 115,150.00
Other Activities 23,734.00
Subtotal $2)b9,327M
Operation & Maintenance
of Physical Plant,etc.
General Appro. . 683,518.00
Special Appro. 60,000.00
Work in Progress 25,000.00
General Stores,etc. 27 250.00
Subtotal T 7
Auxiliary Enterprises:
Residence Halls $ 285,767.00
Miscellangous 79,725.00
Subtotal $ 3b5,492.
Expendi-
tures
$
$
$
$
30,921.26
9,525.20
13,196.82
53, b43rn
17.02%
178,754.29
46,635.16
23,931.53
32,520.62
8,792.41
41,054.40
5,360.31
1,574.70
1,418.30
27 , 508.27
9,441.02
2,1L2.30
379,133.31
14. bT,
Encum-
brances
$ 1,838.37
1,308.08
2,829 33
$ 5,975.7b
$ 12,332.01
2,858.06
243.54
139.71
16.60
5,698.50
4,544.93
148.90
231.22
18,356.74
291.89
112.56
$ 44,9 74 * bb
121,163.29 $ 85,346.34
217.71 932.76
12,036.47
5 835.85*
-n b,275.10
$
12,767.59
3,771.46
b, 539.05
14.13%;
$ 33,944.14
1,149 75
$ 35:023.b9
Appro.
Balances
$ 172,315.37
49,827.32
68,470.85
$ 290,677.7T
$1,108,399.70
313,225.78
141,907.93
183,326.67
62,736.99
250,651.10
66,363.76
7,706.40
22,350.48
181wi,652.99
105,417.09
21,479.14
$2,465,2ib.03
$ 477,008.37
58,849.53
12,963.53
33,065.85
$ 5bl,907.2b
$ 239,055.27
74, 03.79
$ 313, b59.0
Total-Colleges
$4,400,4818.60 $
576,897.26 $172,323.43
$3,651,595.91
*Negative number.
University of Kentucky
STATEMENT OF DEPARTMENTAL APPROPRIATIONS
For the Current Fiscal Period which Began
July 1, 1951, and ended August 31, 1951
General Fund
Depart.
Appro.
Expendi-
tures
Encum-
brances
Agr. Exper.Station:
Administration $
Agronomy
Animal Husbandry
Animal Pathology
Creamery License
Dairy
Dairy Cattle. Improve.
Entomology & Botany
Farm Economics
Feed & Fertilizer
Home Economics
Horticulture
Markets & Rural Fin.
Poultry
Pub. & Library
Pub.Service Labs.
Regional Research
Robinson Substation
Rural Sociology
Seed Stocks
West Ky. Substation
1M..sc.-Social Security
150,473.00
202,454.00
78,490.00
60,050.00
9,291.00
46,835.00
15,000.00
79,330.00
61,685.00
190,000.00
18,100.00
44,180.00
79,331.00
35,388.00
32,495.17
32,250.00
8,325.00
22,400.00
32,242.00
41,900.00
$ 11,643.12
30,279.62
12,957.44
8,798.71
1,368.52
5,112.67
2,410.98
11,994.01
9,731.89
11,151.31
2,011.93
6,537.95
13,063.72
4,332.92
1,994.09
4,707.75
1,250.54
2,862.00
4,753.23
1,100.00
5,472.12
1,676.60
$ 4,366.80
2,678.73
10,105.62
236.74
239.90
7,614.48
94.52
466.49
7.30
24,270.25
139.30
2,591.22
235.24
205.00
798.72
2,246.40
$ 134,463.08
169,495.45
55,426.94
51,014.55
7,682.58
34,107.85
12,494.50
66,869.50
51,945.81
154,578.44
16,088.07
37,502.75
66,267.26
26,463.86
30,265.84
27,337.25
7,074.46
lc,739.26
27,4088.77
1, 100. 00*
34,182.48
1,676.60*
Total-Agricultural
Experiment Station $1,240,219.17
$155,210.32
$56,296.71
$1,028,712.14
17.05%
*Negative number.
Appro.
Balances
University of Kentucky
STATEMENT OF DEPARTMENTAL APPROPRIATIONS
For the Current Fiscal Period which Began
July 1, 1951, and ended August 31, 1951
General Fund
Depart.
Appro.
Expendi-
tures
Encum-
brances
Agr. Extension Div.:
Administration $
Agr.Engineering
Agronomy
Animal Husbandry
Clothing
County Agents
Dairy
Farm & Home Conven.
Farm Management
Forestry
62,192.00
26,988.00
35,687.50
22,708.00
12,264.00
703,011.52
21,26;.00
1,500.00
14,904.00
1o,436.oo
Foods 11,632.00
Home Dem.Agents 421,575.98
Home Management 29,840.00
Horticulture 18,344.00
Junior Clubs 78,204.00
Markets 9,853.00
Poultry 21,444.00
Publications 13,o88.00
Public Information 19,296.00
Rural Sociology 5,620.00
Misc. Soc.Sce.
Admin. Reserve 3,725.93
Total-Agricul-
tural Ext.Div. 1,5546,381. 93
$ 9,441.52
3,513.57
5,838.30
3,922.62
1,788.26
124,466.90
3,438.72
2,404.64
1,622.64
1,721.36
78,737.17
4,488.75
2,792.71
11,620.24
1,568.00
,133.87
477.85
2,951.45
1,015.43
377.46
$
$265,321.46 $
17.1 _
Combined Total $7,187,419. 70 $997,429.04
$ 52,750.48
25,474.43
29,849.20
18,785.38
10,475.74
578,544.62
17,829.28
1,500.00
12,499.36
8,813.36
0, 91o.64
342,038.81
25,351.25
15,551.29
66,583.76
8,285.00
18,310.13
13,410.15
16,344.a5
4,604.57
377.46*
3,725.93
$1,281,060.47
$5,961,370.52
*Negative number.
Appro.
Balances
University of Kentucky
STATEMENT OF OTHER FUND TRANSACTIONS
For the Current Fiscal Year which Began
July 1, 1951 and Ended August 31, 1951
Balance
July 1,1951
Restricted Fund Balances:
Div. of-CoieTges $1,471738.78
Agr.Exp.Station 54,158.96
Agr.Exten.Div. 150 152.81
Subtotal
Loan Fund:
PFrncipal
Income
Subtotal
Endowment Fund:
Principal-
Income
Subtotal
Agency Fund:
Balances
Combined Total
$ 62,797.61
22,3`5.19
$ 19,9b28.bo
$ 1019,92 .1.8
2,645.67
$ 202,973.56
$ 69,939.86
$2,033,747.09
Receipts
$267,206.88
18,132.85
22,589.94
$ 7,929.b79.
493.91
$ !. 49.y
$ 300.00
9.75
$ 309-75
64,303.13
$373,036 .46
Disburse-
ments
$220,902.96
17,650.96
26,471.21
Balance
Aug.31,1951
$1,518,042.70
5)1,640.85
146.271.57
2 5,.12. _
na5 257.17 7l,71b 955.1
62,797.61
22 879.10
- - $ 08)' t)(t..(I
25$00
$ 25.00
$ 66,131.76
$331,181.89
$ 200,228.10
2,630.42
_ 202,65b.bO
$ 68,111.23
$2,075,601.66
University of Kentucky
STATEMENT OF COMBINED RECEIPTS AND EXPENDITURES
For the Current Fiscal Period which Began
July 1, 1951, and Ended August 31, 1951
Receipts and Transfers:
General Fund R eTepTs
Restricted Fund Receipts
Loan Fund Receipts
Endowment Fund Receipts
Agency Fund Receipts
Total Receipts
$2,4o9,132.73
307,929.67
493.91
309.75
64,303.13
$2,782,169.19
Expenditures, Encumbrances & Transfers:
General Fund Expenditures
Plant Fund Expenditures
Restricted Fund Expenditures
Endowment Fund Expenditures
Agency Fund Expenditures
Total Expenditures
$1,226,049.18
66,558.56
265,025.13
25.00
66,131.76
$1,623,789.63
PRIOR YEAR
University of Kentucky
STATEMENT OF PLANT APPROPRIATIONS
For the Period which Began
July 1, 1950, and Ended August 31, 1951
Plant Funds
Dept.
Appro.
Division of Colleges:
P.W.A. First Bond
Issue $ 37,003-37
P.W.A.Second
Bond Issue 17,07&.47
Dorm. Rev .Bond
Issue 23,019.25
Audit-Fieldhouse
Issue 103,053-50
Library & Service
Bldg.Bond Issue 47,130.77
Stadium Rev.Bond
Issue 23,630.50
Dorm.Issue-Rose St. 2,554.17
Journalism Bond
Issue 20,020.00
Dicker House An-
nuity 363.01
Fieldhouse 31,761.46
Norwood Hall Fire
Loss Balance 15,911.25
Purchase of Land
& Bldg.
Service Bldg.Con-
struction 122,207.96
Fine Arts Build-
ing 4,111.62
Dairy Center
2,031.04
Journalism 255,356.83
Add. to College
of Education
New Science Bldg. 10,800.00
Dorm. Construction
-Rose St. 74,500.00
Library & Service
Bldg.Clearance 13,612.52
Dorm.Const.III 76,000.00
Sprinkler System 4,443.32
Rose St.Issue II
(476) 2,932.14
Omicron Delta Kappa 2 550.00
Subtotal $b90,0711
Expendi-
tures
Encum-
brances
$ 36,996.1S
Free
Balance
$ 7.19
58.73
17,019.74
20,047.25
62,137.50
39,635.00
2,972.00
40,916.00
7,495.77
110.00
5.42
23,512.50
2,548.75
20,020.00
132.33
1,511.19
230.6&
30,250.27
15,911.25
111,207.96
1,952.15
2,031.04
195,870.03
11,000.00
2,159.47
$51,624.52
7,500.00
74,500.00
76,ooo.oo
2,635.00
2,550.00
p$ybub ,(ZC.7
7,662.28
3,300.00
13,612.52
4,443.32
297.14
EGG44.o
w51,d24.52
University of Kentucky
STATEMENT OF PLANT APPROPRIATIONS
July 1,1951, and ended August 31, 1951
Plant Funds
Dept.
Appro.
Division of Colleges:
Expendi-
tures
P.W.A. First Bond
Issue
P.W.A. Second Bond
Issue
Dorm.Rev. Bond
Issue
$ 36,470.00
16,723,00
$
8,390.00
$ 36,470.00
6,390.00
20,552.00
20,552.00
Audit-Fieldhouse
Issue
Library & Service
Bldg.Bond Is.
Stadium Rev.Bond
Issue
Dorm.Issue-Rose St.
1
Dorm.Issue-Rose St.
2
61,732.50
39,042.50
23,156.00
4,103.00
4,216.00
Journalism Bond Issuel6,723.00
Dicker House Annuity
Service Bldg. Con-
struction
Libr.& Service Bldg.
Clearance
50,793.75
10, 938 .75
39,042.50
23,156.00
4,103.00
4,216.00
16,723.00
7,302,81
7,302.1*
1,382.73
Subtotal
*Expenditures and encumbrances in excess of appropriation or negative
figure.
Encum-
brances
Free
Balance
$bb,46b-.56
University of Kentucky
STATEMENT OF PLANT APPROPRIATIONS
For the Current Fiscal Period which Began
July 1, 1951, and Ended August 31, 1951
Plant Funds
Dept.
Expendi-
tures
Encum-
brances
Agricultural Experiment
Station:
Animal Path.Bldg.
Repairs & New Equip.
West.Ky.Tobacco Barn
West.Ky. Water System
$ 1,880.75
$
$
8,481.03
360.00
$ 1,880.75
8,481.03
360.00
200.00
200.00
Agr.Engr.Bldg.
75,000.00
75,000.00
Sheep Barns
Brooder House
Miscellaneous
Subtotal
2,500.00
17,856.00
10,648.62
$li6,926 .4o
2,500.00
17,856.00
72.00
$ 72.00
10,576.62
$116,854 .140
Free
Balance
14
The report was examined by members of the Board, and after
due consideration, upon motion duly made, seconded and carried,
the report was authorized received and made of record.
C. Investment of Funds of the College of Pharmacy.
The Comptroller reported to the Board some of the revenue bonds
dated July 1, 1946, proceeds of which were used for the construction
of the Men's Residence Hall known as "Bowman Hall", had been offered
at a discount. He stated that part of the bonds were issued at an
interest rate of 2% and a part at 1-3/4%, and that the bonds offer-
ed for sale were of the 1-3/4% interest rate. The price asked
was 87* net. The Comptroller suggested the use of part of the funds
available to the College of Pharmacy, for the purchase of these
bonds. Members of the Board discussed the question of purchasing
revenue bonds of self-supporting units of the University.
After a thorough discussion, motion was made, seconded and
carried that the Comptroller be authorized to purchase $5,000.00
of revenue bonds offered at a price of 87*, and that the President
and Comptroller be further authorized to purchase any of the revenue
bonds issued against revenue producing units of the University,
if any of the bonds become available, and when the President and the
Comptroller feel that it is to the best interest of the University
to do so.
D. Proposed Budget for the Biennium 1951-53.
President Donovan presented to the members of the Board a bro-
chure, "Your University". The contents of the bulletin were ex-
amined in detail. They included the proposed budget for the en-
suing biennium. President Donovan recommended that the Board au-
thorize the administration to request the 1952 Legislature for
the appropriations for the following purposes and amounts:
PROPOSED BUDGET
1951-52 Appropriations and 1952-53 Proposed Budget
(The 1953-54 budget request is the same as the one for 1952-53)
Budget Items & 1952-53 Pro- 1952-1953 Pro-
Reasons for Increases posed Changes pose: Budge
Division of Colleges $2,300,000 $3,630,000
Deficiency from Veterans' Fees 1,000,000
Increase in Cost of Living - 10% 330,000
15
PROPOSED BUDGET (Continued)
Budget Items & Reasons 1952-53 Pro- 1952-53 Pro-
for Increases posed Changes posed Budet
College of Agriculture $ 60,ooo $ 215,987
Deficiency in Current Appropriation 155,987
Summer School Session 16,500 18,150
Increase in Cost-10% 1,650
Repairs to Buildings 60,000 100,000
Deficiency in Current Appropriation 40,000
Strawberry Marking & Labeling Act 1,500 1,650
Increase in Cost-10% 150
Library Equipment 12,500 62,500
Steel Shelving, Library Annex 50,000
Scientific Laboratory Equipment 50,000 75,000
Increase in Cost-50% 25,000
Engineering Equipment 27,500 27,500
Exp. Sliation-Incl.Tobacco,Bloat Research 75,000 125,000
Deficiency in Current Appropriation 50,000
University Research-Including Coal,
Engineering Experiment Station 60,000 60,000
Geological Survey 37,900 100,000
Expansion of Work 62,100
College of Pharmacy 50,000 76,269
Deficiency in Current Appropriation 26,269
Service Laboratories 27,500 30,250
Increase in Cost-10% 2,750
Nursery Inspection 5,000 5,500
Increase in Cost-10% 500
Princeton Sub-Station 22,400 24,640
Increase in Cost-10% 22,240
Robinson Sub-Station 22,400 24,640
Increase in Cost-10% 2,240
Agricultural Extension 4oo,ooo 600,000
Increase in Cost-50% 200,000
16
PROPOSED BUDGET (Continued)
Budget Items & Reasons
for Increases
Horticulture
Increase in Cost-10%
1952-53 Pro-
posed Changes
$ 11,500
1,150
1952-53 Pro-
$ 12,550
Dairy Cattle Improvement
Increase in Cost-10%
Hope-Flannagan Act
Totals
15,000
1,500
16,500
195,300
195,300
$ 5,401,536
*Includes totals of proposed
increases.
The Board members evidenced considerable interest in the Pro-
posed Budget request submitted and the recommendation of the Presi-
dent, and upon motion duly made, seconded and carried, concurred in
the recommendation and directed that the budget request submitted
to the Legislature include the proposed budget, and that the bro-
chure be made a part of the minutes.
E. Dormitory Revenue Bonds and Coupons Burned.
President Donovan read the following letter from the Comptroller:
September 14, 1951
Dr. H. L. Donovan, President
University of Kentucky
My President Donovan:
Pursuant to the direction of the Board of Trustees at
the April 3, 1951 meeting, the paid bonds and paid interest
coupons of the 1936 University of Kentucky Building Revenue
Bonds were burned September 4, 1951. The list of the bonds
and coupons with the signatures of the witnesses is attached
hereto for the records of the Board.
17
The March 11, 1949 Executive Committee authorized a
bond issue in the amount of $47,500.00, to be named "Uni-
versity of Kentucky Dormitory Revenue Bonds (456 Rose
Street)". The amount of the issue was found to be
inadequate, and the issue was called by the November 11,
1949 meeting of the Executive Committee, Volume 27, page
214. When the called issue was received at this office,
it was found that coupon #1 of Bonds 40, 41, 42, 43, 52,
53, 54 and 55, in the amount of $8.12 each, had not been
cashed by the owner or owners (unknown) of the bonds. The
Comptroller was authorized by the March 17, 1950 meeting
of the Executive Committee to cash these coupons and deposit
the proceeds to a restricted account, pending further au-
thorization of the Committee (page 378, Volume 27). The
proceeds $64.96, were accordingly deposited to Account
3318, Receipt 9065, March 20, 1950.
This is to report that all coupons and bonds, paid and
unpaid, of the first1 456 Rose Street bond issue, in the
amount of $47,500.00 were burned September 4, 1951, pursuant
to the direction of the Board of Trustees at the December
13, 1949 meeting. A list of the bonds and coupons, with
the signature of each witness is attached hereto for the
records of the Board.
Respectfully submitted,
(Signed) Frank D. Peterson,
Comptroller.
The President stated that it was the desire of the Comptrol-
ler that the minutes contain a record of what was done, and recom-
mended that the list of bonds and interest coupons burned in the
presence of the Comptroller, Mr. Ed Gabbard, and Mr. J. Y. Peck,
be made of record in the minutes.
On motion duly made, seconded and carried, the President's
recommendation was concurred in.
F. State Property and Building Commission Authorize Issuance
of Revenue Bonds for Buildings.
President Donovan reported that the State Property and Build-
ing Commission, under date of September 7, 1951, authorized the
issuance of revenue bonds for the construction of a women's resi-
dence hall and a science building.
Upon motion duly made, seconded and carried, the information
was received and ordered filed.
G. Cooperative Agreement with the Kentucky Division of' Forest-
President Donovan presented Cooperative Agreement and plan
for providing technical services to private forest landowners
and operators and processors of primary forest products. He
stated that, for several years, the Agricultural Extension Divi-
sion of the College of Agriculture and Home Economics has been
operating free farm-forestry projects in cooperation with the
United States Forestry Service. Half the cost of the operation
of these projects has been paid by the Extension Division, the other
half by the Federal Government.
Under the Cooperative Forestry Management Act, Public Law 729,
the United States Forestry Service can cooperate only with state
foresters or equivalent officials after July 1, 1951. Mr. H. B.
Newland, Director of the State Division of Forestry, has requested
our cooperation in continuing the cooperative work in forestry
farm management heretofore carried on with the United States Forest
Service.
Dean Frank J. Welch, director of the Experiment Station, re-
ports that they are desirous of cooperating with the State Division
of Forestry and of continuing this important work in forestry
management, and he recommends approval of the Cooperative Agree-
ment.
The provisions of the Agreement were explained to members of
the Board, and upon motion duly made, seconded and carried, it
was authorized executed on behalf of the University of Kentucky.
H. Revised Agreement for Metallic Telephone Circuit at Robin-
son Forest
President Donovan reported that Dean Cooper recommended an
Agreement with the State Division of Forestry for the construction
of metallic telephone circuit on the Robinson Forest. The Agree-
ment was approved by the Board of Trustees on April 3, 1951.
Some of the provisions contained in the Agreement, authorized as
of that date, were not acceptable from the standpoint of the
State Division of Forestry. He presented a new Agreement for the
construction of a metallic circuit on the Robinson Forest, which
meets the approval of Frank J. Welch, Dean and Director of the
College of Agriculture and Home Economics and Agricultural Experi-
ment Station, and Mr. H. B. Newland, Director of the State Forestry
Division, which Agreement provides (1) that a telephone circuit
may be constructed on Robinson Forest; (2) that all costs shall
be borne by the Division of Forestry of the State Division of Con-
servation; (3) that the Division shall have the privilege of using
fire towers on Clements Fork, the telephone equipment and lines
mentioned in the Agreement, the right of ingress and egress, and
19
the use of any roads extending to towers referred to in the con-
tract; (4) that the Division shall pay the salaries for-lookout
duty; and (5) that the Agreement shall continue for a period of
20 years, but either party shall have the right to terminate it
upon twelve months written notice, with certain reimbursement
provisions to the Division in the event the Agreement is cancelled
before termination.
Members of the Board being thoroughly advised, upon motion
duly made, seconded and carried, the Agreement was authorized exe-
cuted on behalf of the University.
I. Restricted Fund Budgets Approved.
The President submitted two restricted fund budgets which
were not submitted by the Experiment Station at the time other
budgets were considered:
(1) Experiment Station Animal Husbandry reappropriation of
fund balances received from Swift & Company;
(2) Grant from General Education Board to improve forestry
practices and the processing and marketing of