xt7xks6j1s5b https://exploreuk.uky.edu/dips/xt7xks6j1s5b/data/mets.xml Lexington, Kentucky University of Kentucky 19400717 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, 1940-07-sep17. text Minutes of the University of Kentucky Board of Trustees, 1940-07-sep17. 1940 2011 true xt7xks6j1s5b section xt7xks6j1s5b 









     Minutes of the Regular M11eeting of the Board of Trustees, Uni-
versity of Kentucky, Septcrnber 17, 1940.


     The regular September meeting of the Board of Trustees, Uni-
versity of Kentucky, was hold in the President's Office, Tuesday,
September 17, at 10:30 a.m.   The members of the Board present
were Governor Keen Johnson; Judge Richard C. Stoll; Harper Gatton;
Mrs. Paul G. Blazer; W. H. May, Commissioner of Agriculture; H. S.
Cleveland; Louis Hillenmeyer; Lee Kirkpatrich; J. W. Brooker,
Superintendent of Public Instruction; Marshall Barnes and Robert
P. Hobson.   President Cooper and Secretary D. H. Peapk were present.


     1. Approval of Minutes. The minutes of the Board of Trustees
of June 7, 1940, and the minutes of the meetings of the Executive
Committee of June 28, 1940, and July 12, 1940, were approved as
published.


     2. President's Quarterly Report,

     President Cooper presented the quarterly report of the Presi-
dent on the state of the University.   On motion, seconded and
carried, the report was ordered inserted in the minutes,



               QUTARTERLY REPORT OF THE PRESIDENT
                       September 17, 1940


     One month of the past quarter, concerning which I an making
this, my first, report, had passed before my appointment as Acting
President of the University,   The annual Junior Week had been held
and the first term of the Sunpier Session was well under way when
I took charge of the President's Office,   On the whole, the summer
was very quiet and there is little beyond routine matters to report
at this meeting of the Board of Trustees,


                Enrollment in the Summer Session

     In the Summer Session just closed, there were enrolled accord-
ing to the records in the Director's Office, 2870 individuals in
the two terms of the Session.   This is an increase of 19.45 over
the enrollment of the preceding year, also excluding duplicates,
In the first term of the Session there were 2189 enrollments; in
the second, 1437; making a total of 3626.   h,-ere may be some
slight difference between these figures and those in the Registrar's
Office, due to sorie later changes after the first check,




 







2.



    Every county in Kentucky was represented in the summer enroll-
ment, and thirty-three states, as well as the Canal Zone, Puerto
Rico, and the District of Columbia, were represented.

     There were 1353 students, excluding duplicates, doing graduate
work in both terms of the Summer Session.  Pursuing work toward
the Ma.ster's degree were 73 students in Agriculture; 305 in Arts
and Sciences; 18 in Commerce; 362 in Education.  Working toward
the degree of Doctor of Philosophy, there were 4 students in Agri-
culture; 70 in arts and Sciences; 4 in Commerce; 123 in Education;
and in the Graduate School, 121 unclassified students.

    At the Comuencement in August there were receiving degrees,
in Arts and Sciences, 33; in Agriculture, 30; in Engineering, 6;
in Law, 13; in Education, 57; in Commerce, 20; in the Graduate
School, 99.


          Probable Enrollment for the Current Semester

     The Registrar has been asked for his opinion regarding the
probable enrollment during the current semester based on the cor-
respondence, requests for literature, and other such indications,
Due to the National Defense Program thel-lre has been more than the
ordinary amount of speculation concerning this important and in-
teresting matter.


             The Council on Public Higher Education

     At the meeting of the Council on Public Higher Education which
met in the office of the Superintendent of Public Instruction at
Frankfort September 7, the following resolution was passed:

     "WHEREAS, the Kentucky statutes require five years of col-
   lege preparation of candidates for the Standard Certificates
   and

      WHEREAS, the Southern Association of Colleges and Secondary
   Schools requires the high school principals to hold Master's
   degrees and many of the Boardo of Education and superintendents
   in Kentucky require the ILiasterts degree as a minimum prepara-
   tion for employment in the hig;h schools, and

      WHEREAS, approximately thirteen thousand or over three
   fourths of the seventeen thousand teachers now hold baccalau-
   reate degrees ,which represent four years of colle-ge prepara-
   tion, and

      WHEREAS, several thousand of theme teachers expect eventu-
   ally to secure a Standard Certificate if given the opportunity,
   and




 






3.



   WHEREAS, the Tcachers Colle,-,es have clas sroom buildings,
libraries, dormitories, training schools, and other physical
facilities valued at at least $12,000,000 which are only
partially in use during the summer when most teachers com-
plete their fifth year of preparation, and

   WHEREAS, the faculties of the Teachers Colleges are
composed of men and women most of whom have had from two
to four years of graduate work and are qualified to offer
the fifth year of college instruction, and

    WHEREAS, the fifth year of instruction can be financed
out of student fees without additional cost to the State for
this phase of the progrmm.

    THEREFORE, BE IT RESOLVED that the Council on Public
Higher Education grant the Teachers Colleges permission to
offer one year of graduate work with a r^.iaJor in the field
of education only be-inning with the sumerir school of 1941.

    BE IT FURTHER RESOLVED that the curricula for such grad-
uate work shall be approved bar the Council on Public Higher
Education.

    You will doubtless recall that all graduate work in
public higher education was placed in the University of
Kentucky by the Council on Public Higher Education at its
meeting held February 16, 1936, at the G-overnor's Mansion,

    In the minutes of the Board of Trustees for the meeting
of April 7, 1936, President i.McVey says in his report.

    "This meeting consisted of the Governor and the
    Presidents of the state supported institutions of
    higher learning in the State.   The Governor request-
    ed that two things be done in tho matter of higchor
    education:

         1. That the State teachers' colleges should
            increase their fees to L.f25.00 a semester,

         2. That the four teachers' colleges should
            give up graduate instruction,

      The request was based on the statement that the State
    of Kentucky could not maintain five graduate schoolsd
    and that the expense and duplication could not be justi-
    fied.   These two propositions wtere agreed to, and at
    the iaeeting of the Council on Higher Education on Feb-
    ruary 24, these proposals were adopted as the policy of
    the Council.   In addition, provision was made restricting
    the summer sessions to an eight week;s term.




 




4.



             The important thing about this action is that
        for the first time in the history of the State, a
        definite policy has been adopted regarding graduate
        instruction.   To my mind it is a statesmanlike pro-
        cedure.   Undoubtedly, such action places new re-
        sponsibilities upon the University, in that it con-
        centrates graduate work at the University,   This
        work must be well done and thoroughly done.   Conse-
        quently, it will be necessary to increase expenditures
        for library facilities, laboratory equipment and sup-
        plies in the graduate field."


        Following this action of the Council on Public Higher Edu-
    cation, the Senate of the University presented the following
    recomrendation:

         "We recommend to the Board of Trustees:

              1, Students now enrolled as candidates for the
        master's degree at Western State Teachers College,
        Eastern State Teachers College, Murray State Teachers
        College and Morehead State Teachers College, will upon
        transferring to the University of Kentucky, receive
        credit for time and amount of work done toward the
        master's degree in the University of Kentucky.

              2. The University of Kentucky will recognize
         the completed work of holders of master's degrees
         from the Teachers Colleges by granting to then the
         mastert s degree of the University of Kentucky,

                              (Signed)  Ezra LM Gillis
                                         Secretary of the Senate.



         Wenner-Gren Aeronautical Research Laboratory

    After some discussion a site for this laboratory was selected
on the east side of Rose Street.   Dean Graham reports that this
building is near one-half completed, and that it will be ready for
the start of installation of equipment about October 1.   He thus
hopes to have the laboratory in service during early December, as
the equipment involved has been on order since the last week of
July.


          Repairs, Alterations and Other Wor'k Done 12y
            the Department of Buildings and Grounds

     In the Home Economics Building 9600 square feet of concrete
was poured on the third floor.   This was unfinished work in the
building when funds for its construction were found to be inadequate.




 






5.



The entire Department of Home EconomLcs las been moved from its old
quarters and all equipment set in place and properly connected.
The ceilings in this building have been painted and concrete bases
put in the new lockers.   In one big laboratory, where exact chem-
ical determinations were to be made, a drop ceiling was put over
the metal which interfered with precise results.  Ordinary drop
cords have been installed, so that the building has lights and will
be in shape for the opening of the University.   The Department of
Buildings and Grounds has built'furniture and equipment -- labora-
tory tables, etc., at a saving of about Z3,200 over the quoted
prices of the equipment company whose bid was being considered. It
is conservatively estimated that before the Home Economics Building
is properly equipped, it will require an expenditure of approximate-
ly $40,000, and that it will require an expenditure of approximately
$20,000 to finish the building as originally planned.

     In the chemical laboratory of the Department of Feed and Fer-
tilizer Control a large hood has been installed at a saving of near-
ly a thousand dollars over the quoted price of a commercial concern.

     Three living rooms providing fVor six students in the basomnnt
of Breckinridge Hall have been made from the space formerly occupied
by the Sandwich Shop.   A building detached from the men's halls,
eighteen by twenty-four feet, has been erected for use as a lunch
room,   This will promote better study conditions in the halls and
provide employment for three students.

     In the Biological Sciences Building the ceilings have been
painted and enameled and 131 doors finished,   The entire Departments
of Zoology and Art have been moved into their new quarters and set
in place for the opening of school,   Funds for equipment have been
inadequate and additional sums will have to be provided to bring
this building up to the efficiency it should have.   In the Art
center the quarters of the Department of M-',usic have been remodeled,
and it now has seven practice rooms, two having been added from part
of the space left by the removal of the Art Department.   One large
room in the Center was given to the Guignol theatre and to provide
for classes in drama.

     There have been somee alterations in Boyd Hall providing living
quarters for the head resident, and the dining room has been re-
decorated.   Smith Hall has had some repairs and redecorating.

     The entire first floor of the Natural Sciences Building has
been reconditioned for the Department of Geology, and after all
these years, steel beams and columns have at last been placed on the
first and second floors to take care of the heavy load and the
long floor spans.

     Some alterations have been made in the Alumni Gymnasium, office
provision made for Physical Education, and some painting has made
the building more presentable than it had been for some time,

     In Frazee Hall provision has been made for the office of the




 





6.



Secretarycf the Woman's Club Service, the furniture and equipment
for which was moved from the Library Building.  The building has
had some interior painting.

     In Lafferty Hall thirty-four double casement windows have been
installed.   This should cancel all complaints about ventilation.

     Some alterations have been made in the Training School Building
providing for a small mimeograph room and a store room on the second
floor.

     Maxwell Place has been gone over and is now in good order,

     Exterior painting has been completed on the Art Center, Frazee
Hall, Agricultural Building, Faculty Club and Health Building, and
is well under way on McVey Halll the Library Building and Natural
Sciences building.

     Sidewalks around the Biological Sciences Building, Home Econom-
ics Building, and Memorial H1ll are pract cally completed and con-
siderable grading has been done. The sinkhole behind the Law
Building has been covered over with reinforced concrete and pro-
vision made for overflow into a storm sewer,   Some work has been
done at the sinkhole to the south of Mlechanical Hall, some walnut
trees cut and its appearance considerably improved.

     Excavation beneath the Service Building to provide more room
uncovered a block of rock, from which about 2,000 yards of rock
have been quarried for our road repair.   WPA labor has been used
and the only expense to the University has been for gas for drilling
and a few tools.

     Many needed repairs and alterations have had to be postponed
due to insufficient funds for further work of this nature,



     3. Financial Report for June, 1940.

     The Business Agent filed the financial report for June, 1940,
which is the financial report for the fiscal year l939-40,   He
stated that the report is subject to adjustment because the amount
of accounts payable is based on encumbrances, which may vary from
final statement of accounts, When the State closes its books as of
September 30, 1940.   The report, ordered published in the minutes,
reads as follows:




 




7.



Statement of Income and Expenditures
        Mionth of June 1940



                              Previously
                              Re ported
General Fund Income
  Fed, Appro.-Lorrill-Nelson   42,750.00
  Vocational Education Board    32,857,98
  Federal Anpro.-Bankhead-Jones 441458.21
  State Appropriation-Sum.Sch.  8,000.00
  Special Agr. Appro.          22,000.00
  State Appro.-General        704,745.43
  Bldg. Revenue Bond & Operations
         Fund                   65,644,51
  Bldg. Revenue Bond & Operations
         Fund 1938              19,540.00
  State Appro.Repairs to Build-
         ings                     8,000.00
  Interest on Peabody Endowment  1,000.00
  Student Fees                 2131v89.45
  Student Fees - Sum. Sch.     62,818.00
  Student Fees  U.H.S.         10,781.00
  Student Fees - El.Tr.Sch.     7,585.00
  Student Fees  U Univ. Exten.  11,689.42
  Misc. Receipts                12,356.38
  Athletics                     40,370.64
  Rentals                        1,355.00
  Men's Dormitories             20,527.27
  Engineering Equipment         55,961.16
  Scientific and Lab. Equipment 60,000.00
  Library Equipment             16,244.38
  Interest on Land Grant Bonds  8,644.50
                   Total     1,471,498.33



  Cu-,-rent
  Month


  7,110.00


  2, 000.00
70,254.53

1,3870.00




6,916.83

   180.00
   150,00
 1,525.45
   523.30
 8,000.00
   165.00
 2,296.20
 4,038.76

 13,739.72

118,769.79



    Fiscal
    Year
    to Date

  42,750.00
  .9,967.98
  44,438.21
  8,000.00
  24,000.00
  774,999.96

  672514.51

  19,540.00

  8,000.00
  1,000.00
  220,106.28
  62,818.00
  10,961.00
  7,735.00
  13,214.87
  13,379,68
  48,370.64
  2,020.00
  22,823.47
  59,999.92
  60,000.00
  29,984.10
  8s644,50
1,590,268.12



Expenditures
  Instruction
  Adm.,Expense & Maintenance
  Additions and Betterments
                   Totul
  Excess of Expenditures over
     Income



938,715.88
442,601.48
G5 472 44


24?708.53



100,522.70
44,407.07
17 179.22
162,108.99

(43.339.20)



1,039,238.58
  487,008.55
  82.651,66
1,608.898.79

  (18,,630.67)



Patterson Hall Incorne
  Board
  Miscellaneous
  Room Rent - Summer Schiool
                   Total

Expenditures
  Expense
  Additions and Betterments
                   Total
  Excess of Incorme over Ex-
      penditures



87,963.09
    81.75
 1,147.08-  
 89,191.92


 60,021.96
 17 , 4942.12
77,494.08



2,111.60
    33.15
3,,461,50
5?606.25


16, 983.24

16,983.24



90,074.69
   114.90
 4.608.58-
 94,798.17


 77,005.20
 17,472.12
94.4775L32



(11.376.99)       320.85



11.697.84




 




B.



General Fund Income
General Fund Expenditures



1,530,69O,25
1,5S4,2B3.88



Excess of General Fund Expendi-
  tures over Income             36,406.37
Unencumbered and Unexpended
  Balance on Hand
Excess of Income over Expenditures



124,376.04 1,685,066,29
179,092.23 1.703.376.11

(54,716,19)  (18,309.82

               21,440.77
               5,130.95



Experiment Station Income
  Hatch - Federal Appro.          15,000.00
  Milk and Butter - Cash Rec.    11,503.55
  Beef Cattle Sales                  957.50
  Dairy Cattle Sales               1,429.6.5
  Sheep Sales                      1,217.88
  Swine Sales                      2,048.41
  Poultry Sales                    2,842.90
  Farm Produce Sales               2,588.32
  Horticultural Sales              1,144.08
  Seed Test                        1,461.93
  Seed Inspection                 27,169.12
  Rentals                          5,536.79
  Miscellaneous                      666.39
  Fertilizer - Fees               57,683. 27
  Public Service - State Appro.  17,117.96
  Public Service - Misc.              60.00
  Feeding Stuffs - Fees           64,739.60
  Adams - Federal Appropriation  15,000.00
  Serum - Sales                    1,241.38
  Serum   Virus Sales                 32.60
  Serum - Live Stock                 104.35
  Serum - Supplies                    51.60
  Serum - Miscellaneous               235.26
  Horticultural Appro.             7,958.94
  State Appropriation             44,344.16
  Creamery - License Fees          8,662.00
  Creamery - Testers Licenses     3,171.52
  Creamery - Glassware Tested        473.21
  Creamery - Miscellaneous            13.68
  Robinson - State Appropriation  12,074.52
  Robinson - Misc. Receipts        3,349.16
  West Ky.-Stat~e Appro.          12,689.88
  West Ky.-Utsc. Receipts          6,242.20
  Purnell, Federal Appro.         60,000.00
  Bankhead-Jones - Federal Appro. 78,933.04
  Nursery Inspection   State Ap.   1,300.00
  Nursery Inspection - Fees        2,120.00
            total                471.,45i7.83

Expenditures
  Expense                        338,946.07
  Additions and Betterments        6 534.12
            Total                3595,480.19
  Excess of Income over Expend.   75,957.64
  Accounts Payable                (7,246.44)



   206.57


   266.99
   31.06
   124.89


     4.00
   657.97
   119.67
   20.80

 3,878.12

     4.48

     73.50
     4.35

     2.90
     .24
 2,038.41
 35655.84
   42B.00
   329.00
   104.14

 1,922.81

 1,310.12



   200.00
   (5.00)
15,378.86


65,433.73
7.752 49

(57,807.36)
4,547.13



15,000,00
11t710.12
   937.50
 1,429.63
 1,484.87
 2,079 *47
 2, 967,79
 2,588.32
 1,144.08
 1,465.93
 27,827.09
 5,656.46
   687.19
57,68 3.27
20,996.03
    60.00
64,744.08
15,000.00
1,314.8e
    36.95a
    104.35
    54..5C
    23.5C
 9,997.35
 48,000.00
 9,090.00
 3,500.52
   577.35
   13.68
13,997.33
3,349,16
14,000.00
6,242.20
60,000.00
78,38.04
2,000.00
  2.115.00



454,379.80
14.286.61
468,666 41
18,150.28
(2,V699.31




 






9.



Extension Division Income
  Federal Bankhead-Jone s
  Federal Smith-Lever
  Federal Cap er-Ketchan
  State Smith-Lever
  County and Other
            Total

Expenditures
  Expense

  Excess of Expenditures over
      Income



443,610.87
148,308.76
36,800.97
109,977.00
24,503.62
763,201.22


688.212.08



74.989,14



10,023.00
2.773.09



443,610,87
148t308.76
36,800j97
120,000,00
27,276.21



12,796.09   775,997.31


88,351.27   776.563.35



(75.555.18)



(566.04)



Excess of Expenditures over
    Income for tho fiscal
    year to date - Extension
    Division
Cash in Bank July 1, 1939 -
    Extension Division
Cash in Bank June 30, 1940 -
    Extension Division



Trust Fund Incorme
  Student Loan Fund
  General Ledger Receipts
  Student Notes Paid
             Total Receipts

Expenditures
  Expense
  General Ledger Expenditures
  Student Notes
             Total Expenditures



1,483.48

2,r 819. 25
4.3028.7Z



  963.75

1,1i5.00
2.10B.75



  309.90
15,000.00
  194.64
15,504.54



1,793.38
15,000.00
3,013.89
19,807.27



1,081.43    2,045.18
18,890.12   18,890.12
   125.00   1270.00
20,096.55   22,205.30



Excess of Expenditures over
  Receipts



2,193.98



(4,592.01)



(2,398.03)



Excess of Expenditures over
Receipts for the fiscal year
  to dato - Trust Fund
Cash in Bank July 1, 1939 -
  Trust Fund
Cash in Bank June 30, 1940 -
  Trust Fund



(2,398.03)

3,272.41



874.38



(566.04)

7.603.41



7,037.37




 





10.



     4. Financial Reports , July and August, 1940.

     ThMe Business A0ent filed financial reports for months of July and
August, 1940.  Financial report being cumulative, the report for
August, which was ordered published in the minutes, reads as follows:



               Statement of Income and Expenditures
                       Month of August 1940



Previously
Reported



Current
Month



Fiscal
Year
to Date



General Fund Income
State Appro.-Summer School  7,000.00
Vocational Ed, Board
  Special Agr. Appro.         2,000.00
  State Appro.-General       26,035.36
  State Appro.-Repairs to
    Buildings
  Bldg.Rev. Bond & Operations
     Fund                       890.60
  Student Fees                  106.85
  Student Fees - Summer School26,043.37
  Student Fees - U.H.S.          30.00
  Student Fees - El.Tr.School    20,00
  Student Fees - U. Extension 1,100.47
  Engineering Equipment - State
    Appro.
  Misc, Receipts              2,364.59
  Rentals                         4-5.00
  Men's Dormitories            1  97 65
               Total         67.133.89



Expenditures
  Instruction
  .Adm. Expense & Maintenance
  Additions and Betterments
               Total
  Excess of Income over Ex-
    penditures

Patterson Hall Income
  Board
  Miscellaneous
  Room Rent - Summer School
               Total

Expenditures
  Expense
  Excess of Expenditures
     over Income



62,993.79
21,314.90

84,313.69



   91.00
   5.50
2,537.00
2,633.50


  972.66



3,000.00
3,956,76
2,000.00
50,387.74



10,000.00
3,956.76
4,000.00
76,423,10



2,746.42   2,746,42

    57.00     947.60
 1,187.17   1,294.02
 40,355,46  66,398,83
                30,00
                20.00
   771.20   1,871,67

 2,822.87    2,822.87
    499.80   2,864.39
    60.00     105,00
_ _ 2B1.80   1 779,45
108,126.22  175,260.11



56,178.18
32,004.96
   656.85
88.839.99



119,176.97
53,319,86
    656.85
173.153.68



1928E36,23   2.106.43


                91.00
     5.50       11.00
   317.90  - 285490
   323,40   2.9b6,90


 2-,123.39- _3j596.05 __

 (1, 799,9)    (1AD39,15)



1,660.84




 





' 1 .



General Fund Income        69,767.9
General Fund Expenditures 85,286635
Excess of General Fund
   Income over Expenditures
                          (15,518.96)



108,449.62
90,963.58



17,486.24



178,217.01
176,249.73



1, 967,28



Experiment Station Income
  Hatch - Federal Appro.    3,750.00
  Farm Sales                6,552,80
  Seed Inspection           9,921.22
  Fertilizer - Fees         4,725.00
  Public Service - St.Appro.1,380.67
  Feeding Stuffs - Fees     8,847.47
  Adams - Federal Appro.    3,750.00
  Serum Sales                  80.43
  State Appropriation       4,022.50
  Creamery Inspection       9,519.,52
  Robinson - State Appro.   1,250.83
  Robinson - Misc.Receipts    677.25
  West Ky,-State Appro.     1,143.33
  West Ky.-Misc. Receipts     790.,23
  Purnell   Federal Appro. 15,000.00
  Bankhead-Jones - Fedoral
     Appropriation         19,734.51
  Nursery Inspection - State
     Appropriation            208.33
  Nursery Inspection - Fees    85.00
  Tobacco Research - State
     Appropriation            316,667
        Total              91,755.76



2,058.45
1,112.55
2,406.25
1, 539, 00
4,956.06

  141. 22
4,046.48
  876.85
1 ,243.33
  280.34
1,143.35
  788.07




  203.33
  135.00

  335,37
21,270.63



3,750.00
8,611.25
11,033.77
7,131.25
2 919.67
13$803.53
3,750.00
   221.65
 8,068.93
 10,396,37
 2,494.16
   957.59
 2,286.66
 1 578.30
 15,000.00

 19,734. 51

   416.66
   220.00

   652.04
113,026.39



Expenditures
  Expense
  Additions & Betterments
        Total
  Excess of Income over
    Expenditures

Extension Division Income
  Federal Bankhleaca-Jones
  Federal Smith-Lever
  Federal CapPer-Ketcham
  State Smith-Lever
  County and Other
         Total
Expenditures
  Expenfas



30,196.98



61,558.78


221,805.44
74,154. 38
l1,400,48
16,371.75
  4,806.80
3351,5389 5

51b999,1



37,637.77
   708,41
38,366.18

(17,095,55)





11,010.40
   248 * 73
11,259.13

64,536.69



67,834.75
728.41
68,563.16

44,46,323


221,805,44
74,154.38
18,400,48
27,382.15
  5,055.53
346,797,98

116.535.85



Excess of Income over
  Expenditures



(53,277.56)  230,262.13




 









Trust Fund Income
  Student Loan Fund
  Student Notes Paid
       Total Receipts



Expenditures
  Expense
  Student Notes
  General Ledger Accounts
       Total Expenditures

  Excess of Expenditures over
      Receipts



   491.82

 4,500.00
, 4.991.82


(4.558.20)



65.36
20.00



  557.18
  20.00
4.500.00



85.36     5.077,18


250.96    (4.o307.24)



Excess of Expenditures over
  Receipts for the fiscal
  year to date - Trust Fund
Cash in Bank July 1, 1940 -
   Trust Fund
Cash to be transferred from
   Savingss Deposit



Balance on hand



(4,307.24)



  874.38

3, 986,30



4,360.68
  553.44



     5, Requisition Committee Report.

     a, The Requisition Committee filed written report of its action
each wee, from July 1, 1940, to September 4, 1940, inclusive.   The
report shows that orders have been made by the Business Office on the
authority of the Requisition Committee in the manner prescribed by
the Board of Trustees and state laws, running from No. 1 to No. 1996.
The report was examined, and on motion and second the orders and
budget additions named therein were ratified and approved and payments
on said orders were authorized and approved,


     6. Audit for Year 1938-1939.

     Report of detailed audit, heretofore ordered to be made by Peat,
Marwick, Mitchell and Company, of Chicago, was presented by the Pres-
ident.   The report was received and ordered filed in the Business
Office for further inspection and orders of the Board.



12.



306.47
427,15
433.62



16.82
319.50
336.32



323.29
476.65
769.94




 









     7. Audit of Athletic Departmient.

     The Business Agent filed report of audit of the Athletic Depart-
ment for year 1939-40 made by John W. Good.   The repor't was received
and ordered filed.  A study of the report shows a balance o-' the
year's operations of $11498.45.   From this balance old obligations
amounting to $9040.65 were paid.   This leaves available funds in
the account of the Athletic Department of $2457.80.

     Following is summary of the report:


           ATHLETIC DEPARTIMIJT - UNIVERSITY OF KENTUCKY



July 1, 1939 to June 30,



1940



SU'LSARY OF AUDIT



1953-1939



Gate Receipts, Guarantees
  etc. (Schedule A),       $76,339.07
Student Fees (Schedule B), 27,707.11
Other Income (Schedule B),      54.00
Program, Net (Schedule C),   2,23l.58
              Total       $106,311.7S



Disbursements

Athletic Dept. Account
    Sundry Ledger
    (Schedule A),             3 7,381.85
 Athletic Dept. Account
    Budget Ledger (Schedule
    A),                       49,637.94
  Grants sad Aids
    Organization Ledger
    (Schedule B),             31.62-1.03
               Total        -Tl.8,693.82



1939-1940



110,300.04
  34,212.08

  3.022q93
S147,535.05



$ 58,036.36


  49,358.97


  37. 61, 92
5145 077.25



Increase or
(Decrease)



$33,960.97
  6,504.97
    (34.00)
    79,221.3 5
$41,223.29



$20,704.51


   (328.97)


   6.007889
-26 383.43



Excess of Receipts over
   Disbursements



('12a  382,006)



     8. Audit of Organizations Fund,

     The Business Agent filed report of audit of the Organizations
Fund for year 1939-40, imciade by John W. Good,  The report was received
and ordered filed,



Following is summary of the report:



Receipts




 







14.



ORGANIZATIONS FUND - UNIVERSITY OF KENTUCKY
      July 1, 1939 to June 30, 1940


             SUMMARY OF AUDIT



Balance, June 30, 1939

Total Receipts



Expenditures



Balance



819 ,339.76

167.520.89
186,860.65
163,636.85
233223.80



     9, Audit of Kentucky Kernel Account,

     The Business Agent filed report of audit of the Kentucky Kernel
for year 1939-40.   The report was received and ordered filed,

     Following is summary of the report:


             KENTUCKY KERNEL - UNIVERSITY OF KENTUCKY
                    July 1, 1939 to June 30, 1940


                          SUJMRY OF AUDIT



Income:
Advertising
Job Printing
Cuts Subscriptions and
     iscellaneous



85,833.88
38,653,73



                   Total
Increase in Material Inventory
Income from Business Office - Fees
Income from Investments

                         Total



Less Expenses (See below)



$45,708.93
   357.41
 3,362.42
   218.81

849,647.57

44.147.94



Net Income



$- 5,499.63




 






15.



    10, Audit Being Made by Auditor of Public Accounts.

    The President stated that an audit of the University accounts is
being made by the State Auditor of Public Accounts.   No report by
the Auditor has been made at this date.


     11. Haggin Trust Fund - Bank Statement.

     The President presented a statement made by the Bank of New
York of the Haggin Trust Fund, covering the period of January 15,
1940, to July 13, 1940.   The statement shows a balance of income in
the bank account of $7017.20.   The statement was received, examined
and ordered filed.


     12. College Catering Company - Notice to Cancel Lease.

     The President announced receipt of letters regarding proposed
cancellation of lease of College Catering Company, copied as follows:

     a. Judge Stoll's communication to the President.


                                         September 12, 1940

               President Thoras P. Cooper
               University of Kentucky
               Lexington, Kentucky

               My dear Mr. President:

                    Enclosed you will find a letter which
               I have received from the College Catering
               Company.   I notice a copy of this letter
               has been sent to D1r. Peak but I am sending
               you the original which came to irae.

                                         Yours truly,

                                           (Signed) Richlrd C. S toll
               RCS!FPJ
               Enclosure.



b. Notice of Cancellation of Loase by College Catering Company:




 





16.



                 COLLEGE CATEPRING COIPAYy


                                      August 31, 1940

REGISTERED MAIL
RETUPIN RECEIPT REQUESTED


University of Kentucky,
Lexington,
Kentucky.
                 .Attention: Richard C. Stoll, Chairman
                      Executive Committee of thle
                        Board of Trustees

Gentlemen:

          Please take notice that as lessee under a certain
lease executed on, to-wit, the 1st day of March, 1938, with
you as lessor, covering the premises within the Student Union
Building, more particularly described in said lease as --

          Rooms No. 2 (Soda-Grill), No. 8 (Cafeteria Dining
Room