Minutes of the Meeting of the Executive Committee of the
Board of Trustees of the University of Kentucky, May 18, 1951.

     The Executive Committee of the University of Kentucky met in
the President's Office at 10:30 am., Friday, May 18, 1951   The
following members were present: Guy A. Huguelet, Chairman; R. PO
Hobson, Ho D. Palmore, and J. C. Everett.   Absent:  Harper Gatton.
President H. L. Donovan and Secretary Frank D. Peterson met with
the Committee.


     A. Minutes Approved.

     The minutes of the Executive Committee of February 17, 1951,
were approved as published.



     B. Report of Comptroller.

     The Comptroller made financial report covering University fund
transactions for the nine-months period beginning July 1 and ending
March 31, 1951.   The report contained balance sheet and operating
statement of each department, division and unit.   After members of
the Committee had examined the report, motion was made, seconded and
carried that the report be received and filed.



     C. Budget Changes.

     President Donovan submitted list of changes in the University
budget recording decreases and increases.   The total budget changes
showed a net decrease in appropriations of $11,529-71   The Presi-
dent recommended that the Comptroller be authorized to make the
necessary budget adjustments.

     On motion duly made, seconded and carried, the Executive Commit-
tee concurred in the recommendation of the President,



     D. Transfer of Hal Price Head~ley Fund Securities.

     President Donovan read to the Board the following communication
from the Comptroller: