xt7zw37kqm2k https://exploreuk.uky.edu/dips/xt7zw37kqm2k/data/mets.xml Lexington, Kentucky University of Kentucky 19500919 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, 1950-09-sep19. text Minutes of the University of Kentucky Board of Trustees, 1950-09-sep19. 1950 2011 true xt7zw37kqm2k section xt7zw37kqm2k 










     Minutes of the Meeting of the Board of Trustees of the University
of Kentucky, September 19, 1950.


     The Board of Trustees of the University of Kentucky met in the
President's Office at 10:00 a.m., Tuesday, September 19, 1950.   The
following members were present: Governor Earle C. Clements, Chairman;
Mrs. Paul G. Blazer, Dr. W. M. Coffee, George M. Cheek, T. H. Cutler,
Paul M. Basham, Harry F. Walters, Carl Dempewolfe, Guy A. Huguelet,
Boswell B. Hodgkin, J. C. Everett, J. Woodford Howard, Harper Gatton
and H. D. Palmore.   Absent:  R. P. Hobson.   President H. L. Donovan
and Secretary Frank D. Peterson met with the Board.


     A. Minutes Approved as Published.

     The minutes of the Board of Trustees of May 30, 1950, and the
minutes of the Executive Committee for June 23, July 21 and August 26,
were approved as published.


     B. Comptroller's Report.

     The Comptroller made financial report for the accumulated period
July and August, 1950.




 









                   UNIVERSITY


                               LEXINGTON
Office of the Comptroller



OF KENTUCKY



September 16, 1950



Dr. H. L. Donovan, President
University of Kentucky
Lexington, Kentucky

My dear Doctor Donovan:

     I submit herewith a balance sheet of University funds as of
August 31, 1950, together with statements of fund and budget opera-
tions for two months ended on the same date.

     Income realized during the period amounted to $2,122,545.45.
This amount was 29.6% of the budget estimate of $7,181,674.51.

     General fund expenditures during the period, together with
outstanding encumbrances amounted to $1,117,668.41 which is 15.5%
of departmental appropriations. Plant fund expenditures and en-
cumbrances totaled $75,816.61.

     Loan endowment and agency fund balances amounted to $345,302.34,
of which 6279,081.96 was invested in securities. These funds were
credited as follows:



Fund



Loan Fund
Endowment Fund
Agency Fund



Principal   Income

$ 56,297.61 $ 21,419.99
198,428.18    2,307.35
              66.849.21



Total

$ 77,717.60
200,735.53
66.849.21



$254.725.79 $ 90.576.55   4


     Respectfully submitted,



     Frank D. Peterson
     Comptroller



Total




 






University of Kentucky
     BALANCE SHEET
As of August 31, 1950

     A S S E T S



Agricultural
Experiment
   Station



Agricultural
Extension
Division



Current Funds:
General:
Cash in bank $
Petty cash advs.
State Allotments:



1, 82. 55
  560 .00



  Current yr.     407,426.50
  Prior yr.        70,547.04
Revoll.funds      577,222.88
Receivables        12,898.31
Inventories       596,265.63
Deferred chgs.    111,768.20
Unreal. income  3,410,362.52
  Total Gen.  '-5 .188,883.63



6'3, 651.50 $


199,370.10
  2,483.13
410,249.50



410,472.96 :j,


63,376.54



27,910.00



   758 246 14    859,240.96
1l4670910:37 $1 333,090.46 8



  431,Y957 Ol
      560.00

  670,173.14
  73,030.17
  937)472.38
  12,898.31
  624, 175.63
  111,768.20
75,927,884962
-7 a989,a884.46



Restricted:
Cash in bank
Petty cash adN
Investments
   Total Re-
   stricted
   Total Cur-
   rent

Plant Funds:
Unexpended:
Cash in bank
Revolv.funds
Unreal.Income
   Total Un-
   expended

 Investment in
 Construction
 authorized
 Fixed assets
   Total-In-
   vested
   Total-Plant



Other Funds:
Cash in bank
Notes receiv.
Investments
   Total other
   funds
Total Assets



VS .



523,413.71
12,920.00
689.744.05



92,256.14
   200.00
15,000.00



$



248,418.46 $



864,088.3'
13,120.00
704,744.05



$ 1,226,077,76 $  107j456 14 $  248,418.46 $ 1,581,952.36

$6,414,961.39 $1,*5?5,366. 51 $1, 5B1*508. 92 $ 9,571 836.82



               $    2,350.26               $     2,350.26
$   733,595.24     45,501.75                   779,096.99
     31,279.44                                  31_ __279_G44

$   764,374.68 L   47,852.01               $   812__726_.69

Plant:

$   225,000.00                             $   225,000.00
25,498,340.61 $2,711,576.99 _2B,209,917.60

.25.723,340.61 $2 711. 76.99               $28 434 917.60
326,488, 215 29 $2,759 429.900 _29_247644_29

     Loan        Endowment       Agency


$     5,977.60 $    4,653.57 $   51,849.21 $     62,480.38
      3,740,00                                    3,740000
      68,000.00    196,081.96     15,000.00     279,X08196

$    77,717.60 $  200,735.53 $   66,849.21 $   345,302,34
                                           839 164 783 45



Division
   of
Colleges



Total




 





University of Kentucky
      BALANCE SHEET
 As of August 31, 1950

L I A B I L I T I E S



Agricultural
Experiment
   Station



Agricultural
Extension
  Division



Current Funds:
General:
Res.for encumbrances:
   Current yr. $    198,833.37 $
   Prior yr.       177,733.90



Res. for inven-
tories
Other liabili-



596,265.63



ties             111, 768.20
Unapprop.surplus  319,691*19
ApproD. bals.   3,784.591.34



Total Gen.



Restricted:
Out stand. cks.
Re str.bals.
  Total Restr,
  Total Cur-
  rent



47,101.87
26,594.93



245,935.24
204,328.83



27,910.00



391,457.70
974.845.87



$   13,137.52
1.319.952.94



624,175.63

111,768.20
724,286.41
6.079.390.15



5 6,188 883.63  1. 467 910.37 11.333.090.46 $ 7,989,884.46


      5,323.78                            $      5,323.78
  1.220,753.98 j  107,456,14 it 248418.46    1,576,628.58
1 '226,077.76 j 107.456.14 t     248.418.46 $ 1,581,952.*6

$ 6,414,961.39 $1,575,366.51 41.581,508.92 S 9.571,836.82



Plant Funds:
Unexpended:
Res.for encumbrances:
   Current yr. $     2,075.00
   Prior yr.       420,081.50
Surplus funds       3,202.66
Appropr.bals.     339.515.52



Total Unex-
pended



Investment in
Bonds payable
Net invested
   Total in-
   vested
   Total Plant



Other Funds:
Bal.as to
principal
Bal.as to
  income
  Total other
  funds
Total LiabilitJ



13,801.86
20,318.46
5,131.86
8.599.83



$    15,876.86
    440,399.96
      8,334.52
    348.125.35



$  764,874.68 $   47,852.01                $   812,726.69

Plant:
$  864,00o.0*00                              2,864,000.00
22,859.340.61  2,711.576.99                25,570,917.60

125,723 340.fil $2711.576.99               $28_434_917 60
J26,488,215.29 j2,759,429.00               829_247 644.29

     Loan        Endowment      Agency


$    56,297.61 $  198,428.18               $   254,725.79

     21,419.99      2,307.35     66  49-1       90.576.55

$   77,717.60 $   200,735.53 $   66,849.21 $   345,302.34
.es                                        039.164.783.45



Division
   of
Colleges



Total




 







                        University of Kentucky
STATEMENT OF CHANGES IN UNAPPROPRTATED SURPLUS AND SURPLUS PLANT FUNDS
              For the Current Fiscal Period which began
                July 1, 1950 and ended August 31, 1950

                         Division of Colleges



General



Plant



Total



Balance, July 1, 1950



Additions:
Encumbrance liquidations
Estimated income
    Total additions
    Total credits

Deductions:
Encumbrance liquidations
Appropriations
    Total deductions



9 539,02r.92 $ 195,845.69 $ 734,873.61



             $   6,104.24 $    6,104.24
t4.283807.37    202 783.00  4 , 486 , 590.37
4-,283,s807.*37 $ 208,887 @24 $4,@492, 694.t61
$4822,83529 $404732.93 5,2527X568.22


$  29,966.64               $   29,966.64
4,473,177.46 $401253027    4.874.707.73
$4 503,144.10  i 401 52Q v27 $4 904 674.37



Balance, August 31, 1950



3.202.66 9 322.893.85



Agricultural Experiment Station

             General      Plant



Balance, July 1, 1950

Additions:
Encumbrance liquidations
Transfers
Estimated income
    Total Additions
    Total Credits

Deductions:
Transfers
Appropriations
    Total Deductions



Balance, August 31, 1950



426,355.15 $    13,001.69 $ 439,356.84


$   3,299.51 $    5,131.86 $    8,431.37
                  9,400.00     9,400.00
 1 136 602.21               1,136 602.21
  1 139.901.72 $  14 *531.*86 1,L154 t433.t58
 $1l,5.66,*256.B 7 $ 27,s533.*55 $1 *593,*790,r42


$   9,400.00               $    9,400.00
1,165.399 17 X*2j24169     1,187.800.86
$1 174,799.17   j22,401.69 $1 197 200.86

$ 391.457.70 $    5.131.86 $ 396.859.56



Total



9 319.691.19 S




 





                        University of Kentucky
STATEMENT OF CHANGrES IN UNAPPROPRIATED SURPLUS AND SURPLUS PLANT FUNDS
              For the Current Fiscal Period which began
              July 1, 1950 and ended August 31, 1950

                         Division of Colleges



                  Agricultural Extension Division



General



Balance, July 1, 1950



Plant



2.711.30



Total

A    P. -71T - 0



    271:L2o



Additions:
Encumbrance liquidations
Estimated income
    Total Additions
    Total Credits

Deductions:
Appropriations
    Total deductions



Balance, August 31, 1950



$  10,426.22
1.558.481.93
$1.568,908.15



$   10,426.22
1.558.431.93
91-568-908-15



$1 571 619.45           _    1;571,619.45


$1,558,481.93               $   1.558.481.93
$1j558,481.93          _     1,558_481.93

$  13.137.52                $   13,137.52




 





          University of Kentucky
      STATEMENT OF UUNREALIZED INCOME
For the Current Fiscal Period which began
July 1, 1950 and ended August 31, 1950


              General Fund



Budget
Estimate



Realized
to Date



Unrealized
Balance



Division of Colleges:
Educational and General:
  State appropriations
  Federal grants (through
  the State)
  Student fees
  Endowment income
  Sales, services & rentals
     Subtotal

Auxiliary Enterprises:
Residence halls
Miscellaneous
     Subtotal
     Total-Colleges
Less-Income allocated to
plant
     Net-Colleges



$2,714,400.00 $ 838,750.00 $1,875,650.00



127 , 617.87
1,131,515.00
   9,644.50
   40Q200.00



87, 617.87
77,239.95
   500.00
 3,196.74



   40,000.00
1,054,275.05
    9,144.50
    37,003.26



4,023,377.37 1, 007,304.56 $3,0162072.81


$ 337,200.00 $   35,863.29 $ 301,336.71
    93 414.00        461.00     92 953.00
$ 430.614.00 8   36.324 29 $ 394,289,71
$4,453,991.37 $1,043,628.85  3,410,562.52

  170,184.00   170,184.00
$4.283.807.37 $ 873,444.85  3



Agricultural Experiment Station:
  State appropriations        $  376,550.00
  Federal grants (direct)        310,852.21
  Sales and services             449,200.00
     Total-Experiment Station $1,136,602.21



S



247,130.00
75, 131.80
56,094.27
378. 356.07



$



$



129,420.00
235, 720.41
393,105.73
758.246.14



Agricultural Extension Divisic
  State appropriations
  Federal grants (direct)
     Total-Agricultural
     Extension
     Total-General Fund



General income allocated
Stores overhead
     Total-Plant
     Combined Total



on:
aF 406,050.00
1,152,431.93



$  126,050.00 $  280,000.00
5,  9.Z       579,240.96



$1.558481 .93 $699 240.97 $ 859,240.96
$698815 $1,951.0418B9 $5.027.849,62

Plant Fund

$ 170,184.00 $ 170,184.00
    32 599.00      1,319.56 j   31.279.44
I3 202,783e00        53.56      31.279.44
   $7,18,67451 f.122,545.45 $5,059,129.06




 







         University of Kentucky
 STATEMENT OF DEPARTMENTAL APPROPRIATIONS
For the Current Fiscal Period which began
July 1, 1950 and ended August 31, 1950


             General Fund



Depart.
Approp.



Expendi-
tures



Encum-
brances



Division of Colleges:
Adm. and General
Expense        t 309-635.00 $



39,408.00 $



17,094.87 $ 253,132.13



Instruction and Research:
College of -
Arts and Sci. $1,355,652.43
Engineering       382,825.00
  Commerce          164,226.00
  Agriculture and
  Home Economics   211.022.00



Law
Education
Pharmacy
Graduate School
University Res.
Library



66,387.00
290,380.11
82,654.92
10,130.00
30,000.00
233,460.00



University Exten-
sion              122,708.00
Other activities   14,650.00
     Subtotal  $2.964.095.46



166,867.81
50,430.22
23,488.37

28,421.07
10,483.67
38,648.44
5,970.81
1,800*40
1,179.63
26,385.25

9,724.36
   288.29
363668S.32



$   23,947.89
     7,879.88
       623.65

     1,510.68
        89.92
     4,751.47
     9,570.39
        24.36
     1,948.70
     8,355.87

     2,998.30

$   61,701.11



$1,164,836.73
   324,514.90
   140,113.93

   181,090.25
   55,813.41
   246,980.20
   67,113.72
     8,305.24
     26,871.67
   198,718.88

   109,985.34
   14,361.71
$2.538,706.03



Operation and Maintenance
of Physical Plant etc.
General approp. $ 691,374.00
Special approps.   70,000.00
Work in progress   25,000.00
General stores,
  etc.               27.250.00



Subtotal



Auxiliary Enterpi
Residence halls
Miscellaneous
      Subtotal
      Total-



$



49,385.14 $
2,625.85
7,830.08



1.138e.24



81,432.90
2,671.50


   750.00



560,555.96
64,702.65
17,169.92



25.-36176



489,752.75$   198.B33.37 $3.784.591.34



Approp.
Balances



813624.00      6097T.31      84.854.40     667700.2 Z

'ises:
2-92,773.00 $    22,835.05 $  33,318.51 $ 236,619.44
    93.050.00      2,842.07      1,864.48     88,343.45
$ 385,823.00 $   25.677.12 $    35,182.99 $ 324 962.89



Colleges  $43473.1??.46



, . .
.  




 







         University of Kentucky
 STATEMENT OF DEPARTMENTAL APPROPRIATIONS
For the Current Fiscal Period which began
July 1, 1950 and ended August 351, 1950


              General Fund



                 Depart.
                 Approp.

Agricultural Experiment
Station:
Administration $ 150,301.00
Agronomy           171,022.00
Animal Husbandry    74,490.00
Animal Pathology    59,050.00
Creamery license    12,000.00
Dairy               43,335.00
Dairy Cattle improve-
ment               15,000.00
Entomology and
Botany             76,270.00
Farm Economics      57,685.00
Feed and Fertilizerl40,000.00
Home Economics      17,100.00
Horticulture        41,980.00



Markets and Rural
Finance
Poultry
Publications and
Library
Public Service
Laboratories
Regional Research
Robinson Sub-
station
Rural Sociology
Seed Stocks
West Ky.Substation
Miscellaneous

   Total-Agri-
   cultural
   Experiment



85,224.00
31,228.00

22,747.17

32,300.00
10,325.00



22,400.00
32,242.00
7,000.00
40,400.00
235300.00



Expendi-
ture s



$



10;426.67
24,666.92
9,972.43
9,080.62
1,778.21
5,130.15



Encum-
brances



$



2,341.12

11,497.01
9,096.71
11,155.31
2,063.39
6,730.90

11,094.56
4,486.56

   962.68

 4,515.68
 1,321.61



3,074.68
5,687.82
1 ,099.98
4,828.24
2.440.18



Approp.
Balances



7,496.59
2,940.49
13,548.19
  131.45
    4.95
 6,998.85



$



  210.64

1,315.90

8,840.71

  213.83


1,455.89

  425.00

  82.47


1,626.32



1,795.48
   15.11



132,377.74
143,414.59
50,969.38
49,1337.93
10,216.84
31,206.00

12,448.24

63,457.09
48,588.29
120,003.98
16,036.61
35,035.27

74,129.44
25,285.55

21,359.49

27,701.85
  9,003.39

  17,699.00
  26,554.18
  5,900.02
  33,776.28
  20.844.71



.165399.17 i 143,451.43 $ 47,101.87 $ 974,845.87



$-1



Station




 







          University of Kentucky
 STATEMENT OF DEPARTMENTAL APPROPRIATIONS
 For the Current Fiscal Period which began
July 1, 1950 and ended August 31, 1950


              General Fund



Depart.
Approp.



Expendi-
tures



Encum-
brances



Agricultural Extension Division:
Administration  $   5?,328.00 $
Agr.Engineering     18,840.00
Agronomy            34,087.50
Animal Husbandry    22,260.00
Clothing            12,220.00
County Agents      719,414.44
Dairy               21,010.00
Farm and Home
  Convention          1,500.00
Farm Management     13,520f00
Forastry             5,780.00
Foods               11,500.00
Home Dem.Agents    431,030.00
Home Management     26,660.00
Horticulture        17,645.00
Junior Clubs        78,461.99
Markets             13,265.00
Poultry             21,790.00
Publications        13,850.00
Public Informa-
tion               16,850.00
Rural Sociology      5,100.00
Miscellaneous       16,370.00
   Total-Agri-
   cultural
   Extension
   Division     $1.558.481.93 .

   Combined
   Total        $7,197,058.56 $



$



  8,883.91
  3,085.87
  4,387.64
  3,377.61
  1,610.39
113,714.24
  2,522.34



2,291.94
1,409.26
1,642.76
69,876.02
3,409.57
2,655.64
10,968.83
2,046.92
2,610.74
   464.90

 2,715.60
   854.81



48,444.09
15,754.13
29,699,86
185882.39
10,609.61
605,700.20
18,487.66

  1,500.00
11,228.06
  4,370.74
  9,857.24
361,153.98
23,250.43
14,s89.36
67,493.16
11,2186.08
19,179.26
13,385.10

14,134.40
  4,245.19
  16,370.00



238,528.99               $1.319.952.94


871,733.17 $  245,935.24 $6,079,390.15



Approp.
Balances




 





          University of Kentucky
    STATEiIENT OF PLANT APPROPRIATIONS
For the Current Fiscal Period which began
  July 1, 1950 and ended August 31, 1950

                Plant Funds



                Dept.
                Appro-p.

Division of Colleges:



Expendi-
tures



Encum-
brances



P.W.A.First Bond
Issue         $   36,003.37
P.W.A.Second Bond
Issue             17,071.16
Dorm.Rev.Bond
Issue             23,017.00
Audit-Fieldhouse
issue            114,221.62
Library & Service
Bldg. Bond Iss.   47,130.77
Stadium Rev.Bond
Issue             48,511.95
Journalism Bldg.
Issue                644.45
Dicker House Annuity 263.01
Fieldhouse         28,236.59
Norwood Hall Fire
Loss Balance      15,911.25
Service Bldg.
Constr.           14,900.00
Fine Arts Bldg.     1,981.73
Dairy Center           56.39
Telephone Exchange
Installation          46.67
Journalism Bldg.   25,633.04
Add.to Dairy Prod.
Bldg.              3,106.07
McLean Stad.Improv.   290.34
Sprinkler System    4,443.32
Libr.& Sv.Bldg.
Clearance         20.061.54
  Subtotal     $ 401,530.27



$   36,003.37



,  



8,540.00



8,531.16



23,017.00



51,343.75



62,877.87



47,130.77



48,511.95



56.00 $



28.00



2,047.00



S



2,075.00 $



   644.45
   179.01
28,236.59

15,911.25



14,900.00
1l,981.73
1,990.61*

     46.67
 25,633.04

 3,106.07
    290.34
  4,443.32

  20.061.54
339.515.52



Agricultural Experiment Station:



Animal Path.
Bldg.
Repairs and New
Equipment
Greenville Tob.
barn
W.Ky.Tob.Barn
W.Ky.Water
system
  Subtotal
  Combined
  Total



1,787.93

11,213.76



2,000.00
3,400.00



$   1,787.93



5,131.86



3,920.00



6,081.90

2,000.00
  520.00*



     4.000.00                    4,750.00         750 00*
     222,401.69 ________         13 801.86 $    8.599.83

S 423,931.96     59,939.75 $  15876.86    348,115.35



*Expenditures & encumbrances in excess of approp. or negative number.



Free
Balance



-59.939.75 6



F




 






         University of Kentucky
   STATEMENT OF OTHER FUND TRANSACTIONS
For the Current Fiscal Period which began
July 1, 1950 and ended August 31, 1950



Balance
July 1. 1950  Receipts



Disburse-
ments



Balance
August 31.1950



Restricted Funds:
Div. of Colleges
Agr.Exp.Station
Agr.Ext.Division
    Subtotal

Loan Fund:
Principal
Income
    Subtotal

Endowment Funds:
Principal
Income
    Subtotal

Agency Funds:
Balances

    Combined
    Totals



$1,301,510.02
   98,891.21
   247,236 26



$



79,017.68 $
25, 735.90
22,362.77 _



159,773 72 $1,220,753.98
17,170.97    107,456.14
21180 .57    248,418.46



1.647 637.49 $ 127.116.35 t 198,125.26 1576,628.58


$   56,297.61                             $   56,297.61
    20.923.96 t$     496.03                   21,419.99
A  77.221.57 L      496    _03            $   77,717.60


$ 198,428.18                              $ 198,428.18
     2,298.60 $        8.75                    2,307.35
  _200_726.78_ $       8.75                  200.735.53


S  80,627.42 $   55,497.09 $   69,275.30 0   66,849.21


_2,006,_13.2_  0 183,118.22 $ 267,400.56 $1.921.930.92



                          University of Kentucky
             STATEMENT OF COMBINED RECEIPTS AND EXPENDITURES
                For the Current Fiscal Period which began
                  July 1, 1950 and ended August 31, 1950

Receipts and Transfers:

General income
Plant income
Restricted receipts
Loan fund receipts
Endowment fund receipts
Agency fund receipts
    Total Receipts



$1,951,041.89
  171,503.56
  127,116.35
      496.03
        8.75
    55,497.09
$2,305,663.67



Expenditures and Transfers (Including Encumbrances):



General fund expenditures
Plant fund expenditures
Restricted fund expenditures
Agency fund expenditures
   Total Expenditures



$1,117,668.41
    75,816.61
    198,125.26
    69.275.30
1 460 885.58




 





         University of Kentucky
STATEMENT OF STATE AND FEDERAL ALLOTMENTS
For the Current Fiscal Period which began
July 1, 1950 and ended August 31, 1950



               Allotted
               to Date

Division of Colleges



Expendi-
tures



Encun-
brance 8



State Allotments:
Current yr. S 838,750.00 $
Prior yrs.      88.926.29
   Total       _ 927,676.29 S



RevolvinE Funds:
  Current yr. $ 130,507.81 $
  Prior yrs.bal.1298.679.31
    Total     $1.429.187.12 T



431,323.50 $
18,379.25
449,702.75 T



46,165.69 $
72,203.31
118.369.00 8



25,096.87 $
69,016.77
94.113-64 9



60,470.25
512,445.77
572.916.02



$



382,329.63
1,530227
383 - 859 . 90



23,871.87
714,030.23
737.902.10



Agricultural Experiment Station



State Allotments:
Current yr.  $ 247,130.00 $
Prior yrs.  . 315.820.32
   Total     $ 562.950.32 T



47,1759.90 $
313,337.19
361.097.09 8



2,019.95
958,66
2.978.61



$



S



197,350.15
1,524.47
198.874.62



Federal Allotments:
  Current yr. $   75,131.81 $



Prior yrs.
  Total



47,151*01



$  27,980.79



;Nev 476 . 15 b 309 415e 63  15__060_t_52
399 607.96                           T   436064$ _________



Revolving Funds:
Current yr. $   55,350.86 $
Prior yrs.bal. 448,940.91
   Total      S 504,291.77 .$



48,540.52 $



48.540e52 $



39,990.68
445605.15
84.595-8.3



$



33,180.34*
404,335.76
371-155.42



Agricultural Extension Division



State Allotments:
  Current yr.  $ 126,O SO )X.00 $
  Prior yrs.     356.613.90
  Total     $ 482,663.90 3



62,673e46
356,613.90
419.287.36



Federal Allotments:
  Current yr. $  573,190097 $ 175,855.53
  Prior yrs.   1.152.431.93  1,139.294.41
  Total     $1T725,622.90 $1 315 149.94



63,376.54



63.376.54



$ 397,335.44
   13 137.52
$ 410.472.96



*Negative number



Free
Balance




 









    The balance sheet and operating statement were examined in some
detail, and upon motion duly made, seconded and carried, the report
of the Comptroller was authorized received and made a part of the min-
utes.


    C. Report on the Work of the Board of Control for Southern Re-
gional Education.

    President Donovan acquainted members of the Board with the ori-
gin of the Board of Control for Southern Regional Education;    He
reported on a Conference held at Daytona Beach, Florida, with repre-
sentatives from schools of the various states in the Southern Region.
He spoke at some length concerning the work of various committees
appointed, one in particular being the Committee to Define the Various
Fields for Graduate Specialties, and advised that he thought the va-
rious schools would be given an opportunity to develop programs of
excellence and be designated as such by the Board of Control of the
Southern Regional Education.  He was enthusiastic about the project
for the pooling of the resources of the colleges and universities in
the Southern Region.

    Governor Clements informed the Board that the 1950 General Assem-
bly had authorized participation of Kentucky, and that unofficial
observers representing the University and public education in Ken-
tucky had sat in on the various conferences held since the inception
of the idea.


    D. The War Situation and Its Effect on the University.

    President Donovan briefly reported that the Korean War had af-
fected the enrollment at the University.   He stated that he felt
that the drop in enrollment for the first semester of the 1950 school
year was partially due to the large graduating classes of June and
August.   He stated that the enrollment for the first semester of
1940-50 was 7,673, whereas enrollment for the first semester of the
current year, as of the night of September 18, was 6,130.   It was
stated that late registrants would probably increase the current
enrollment to about 6,500.


    E. Report on the University's Activities on Behalf of National
Defense.

    President Donovan reported that the University now has an ROTC
Ground Force and an ROTC Air Force, with good enrollments in each.
He reported contracts for research work in the Aeronautical Research
Laboratory and the Chemistry Department, and a working agreement with
the NEPA Division of the Oak Ridge atomic energy plant. He said that
five persons had been assigned to work on the campus and that the Uni-
versity had leased to the NEPA Division of Fairchild Engine & Airplane
Corporation, facilities and the Vandergraft machine.   He stated that




 






15



the University was at the present time contributing materially to the
national defense, and that he would not be surprised if the University
in the next few months gradually increased its activities on behalf of
the national defense.



     F. Report of the Committee Studying the Patterson Will.

     President Donovan and Mr. Guy A. Huguelet were appointed a commit-
tee to confer with Mr. Ed Dabney, president of the Security Trust Com-
pany, executor of the James K. Patterson will, relative to that part
of the will establishing the trust fund for the purpose of endowing a
College of Diplomacy at the University.

     President Donovan reported that he and Mr. Huguelet had conferred
with Mr. Dabney and found him very sympathetic and understanding of the
position taken by the University.   Mr. Dabney had requested an opinion
of the trust attorney for the bank and had expected to have a report
for the Board at this time, but due to illness of the attorney, he was
unable to give the Board any report, and requested an extension of
time.

     Upon motion duly made, seconded and carried, the report of the
Committee was received and the request granted.



     G. Organ in Memorial Hall Authorized Replaced.

     President Donovan stated that he had received many complaints con-
cerning the organ in Memorial Hall which was installed in 1929.    He
stated that the organ had been in constant use since its installation
and had served as a practice organ for the Department of Music, as well
as for the various functions held in Memorial Hall.

     He stated that Mr. Peterson, Comptroller, and Doctor Stein, head
of the Department of Music, had been requested to secure a report from
a competent, unbiased source as to the present condition of the organ.
Mr. Charles L. Higgs, Cincinnati, Ohio, was engaged to examine the or-
gan and ascertain the cost of repairing worn-out parts of the exist-
ing organ, and to make a recommendation as to whether to repair the
existing organ or discard same and purchase a new instrument.    Mr.
Higgs reported that it would cost $7,525.00 to repair the existing
organ, but that, when repaired, It would still be an obsolete instru-
ment, and recommended that a new modern-type organ be installed.

     The opinion of Professor Arnold Blackburn, University organist,
was requested, and he recommended that the old organ be discarded and
a new one installed.   A similar recommendation was made by Mrs. Lela
Cullis, instructor of music.   Mrs. Cullis has played the existing
organ since its installation in 1929, and is probably more familiar
with this instrument than any other person.




 









     President Donovan stated that the weight of evidence in favor of
disposing of the present organ and installing a new one had led him to
the conclusion that he should recommend the purchase of a new organ,
and suggested that the sum of $35,000.00 be appropriated from the Hag-
gin Fund for this purpose.

     Upon motion duly made, seconded and carried, the recommendation
of the President was concurred in, the sum of $35,000.00 was author-
ized appropriated from the Haggin Fund for the purchase of a new organ,
and the Comptroller was directed to secure specifications and purchase
the best organ obtainable for the amount of money appropriated, and
have same installed in Memorial Hall.



     H. _-H Club Camp at Dawson Springs.

     President Donovan reported that the Congress had made it possible,
by enactment of public law, for the State Park Commissioner to trans-
fer Dawson Springs park property to the University of Kentucky, to be
used as a 4-H Club Camp.   He stated that, during the past few months,
Dean Cooper and others have been giving a great deal of consideration
to the development and use of t1-' property, and that it will require
a considerable investment to provide the necessary equipment and to
organize the work effectively.

     President Donovan reported that Dean Cooper had asked the Assis-
tant County 4-H Club Agent in Hopkins County to assume additional du-
ties and handle the various matters in connection with the development
of the property.   He reported that the leading citizens of Dawson
Springs have been and are exceedingly helpful in our attempts to de-
velop the 4-H Club camp.

     Dean Cooper submitted a tentative estimate of cost of providing
buildings, equipment, electrical and sanitary facilities, and play-
ground areas, aggregating $72,850.00, and stated that he was optimist-
ic that a part of these funds might be secured through solicitation
of funds to assist in developing the camp and its needed facilities.

     President Donovan stated that he desired the Board to be advised
as to the progress being made and the problems encountered, and recom-
mended that Dean Cooper be authorized to solicit funds needed.

     Upon motion duly made, seconded and carried, the recommendation
of the President was concurred in,


     I. Dormitory Revenue Bond (45 Rose Street) Issue Authorized.

     Mr. Peterson reported that the Alumnae Committee of Lambda Alpha
of Chi Omega had secured from the University, with the approval of the
Board of Trustees and the State Property and Building Commission, an
offer to purchase land and building at 456 Rose Street in Lexington,
Ky.   The Alumnae Committee of Lambda Alpha of Chi Omega has offered




 









to sell this property to the University for the sum of $74,500.00.



     The Comptroller estimated that the property on the present mar-
ket and based upon current construction costs was valued at approxi-
mately $100,000.00.   He stated that the building had been built ac-
cording to plans and specifications provided by Robert W. McMeekin,
architect.   He recommended that building revenue bonds be issued
under Chapter 58 of the Kentucky Revised Statutes to provide the neces-
sary funds with which to purchase this property.   He stated that the
Resolution authorizing the bond issue had been examined by the Attorn-
ey General and read the following letter approving the bond order and
Resolution.


                                       September 11, I950


     Wyatt, Grafton & Grafton
     Attorneys at Law
     Marion E. Taylor Building
     Louisville. Kentucky

     Attention:   Mr. Cornelius W. Grafton

                  Re:  $74,500 "University of Kentucky
                        Dormitory Revenue Bonds
                        (456 Rose Street)"

     Dear Mr. Grafton:

         I have your letter of September 8, and the enclosed
     Bond Order adopted by the University of Kentucky provid-
     ing for the issuance, sale and delivery of Revenue Bonds
     to pay the costs of acquiring a dormitory at 456 Rose
     Street in Lexington, Kentucky.

         I am fully aware of the transaction heretofore had in
     regard to this project and I am sure that this will solve
     the problem connected therewith.

         I have examined the Bond Order and Resolution and I
     find nothing therein that I would suggest changed.    It
     seems to me that you have fully covered all points in
     this Resolution and when adopted, the University of Ken-
     tucky can legally issue the bonds hereinabove mentioned.
     I hereby approve the Resolution.

                                    Very truly yours,

                              (Signed) A. E. Funk
                                       ATTORNEY GENERAL.




 





is



    Mr. Guy A. Huguelet introduced and caused to be read in full a
proposed resolution entitled "A Resolution o