Repository: UIHistories Project: Board of Trustees Minutes - 1932 [PAGE 569]

EXTRACTED TEXT FROM PAGE:

1932]

UNIVERSITY O F ILLINOIS

5<57

ing of such privileges to be contingent, however, upon the need of these facilities for University service. 2. That, with the limited golf facilities, the use of the golf course be restricted to students and to others with working headquarters in University buildings. 3. That a more liberal use of recreational facilities be permitted by a modification of the policy stated in the action of the Board on November 14, 1930 (Minutes, page 121). This could be effected, in the case of persons w h o desire to avail themselves of these facilities outside of regularly scheduled classes and without receiving University credit, through waiving the incidental fee, which n o w amounts to thirty-five dollars per semester. Such persons would still be required to pay the same fees as are paid by members of the corps of instruction for similar privileges ($7.50 per course, plus any special fee paid by students). 4. That such privileges be granted only on recommendation of the head of the department and approval by the President. 5. That members of the administrative staff not on Board appointment be accorded the same recreational privileges as are accorded to Board appointees. 6. That all costs of instruction and supervision of persons thus granted special recreational privileges be provided for in the budget of the department sponsoring the activities, and that the necessary instructors and attendants receive remuneration only from the University. O n motion of M r . Blair, this matter w a s referred to the President of the University, with p o w e r to act. REPORT OF THE FINANCE COMMITTEE Mr. Trees, for the Finance Committee, reported on the following six items. STATUS OF PUBLIC UTILITIES SECURITIES I. A report of his action requesting the Comptroller to secure information of the Central Illinois Public Service Company bonds and the Kentucky Utilities Company bonds held as trust fund investments. BURSAR'S PETTY CASH FUND 2. A letter from the Comptroller: March 10, 1932 President H. W . Chase, 355 Administration Dear President Chase: I have been working with Mr. Gordon on the problem of a local depository for University funds. It appears that no satisfactory arrangement can be worked out at the present time under the rules of the Board requiring that any depository for University funds put up as collateral Government bonds to secure the full amount of the account and pay interest on daily balances. Accordingly, w e propose to handle the matter as follows: Drafts and out of town checks will be sent to the First National Bank of Chicago daily for direct deposit to the Treasurer's account in that bank. Local checks will be cleared through the Champaign-Urbana Clearing House each day, and a clearing house draft, payable to the order of the Treasurer, secured and forwarded for deposit at the First National Bank of Chicago. Arrangements have been made with the clearing house so that w e may do this. This arrangement provides the most rapid possible clearing of all checks received by us, a prompt deposit of all receipts of the Treasurer, and eliminates the necessity of a local depository of the Treasurer. For your information I would say that the clearing house drafts constitute a preferred claim in the event of the closing of the bank through which they are issued. In this connection I wish to call attention to the Bursar's petty cash fund amounting to $25,000 which has been established by the Board as a local emera depository bank designatedthe rules Treasurer andthis countersigned jointly. Checks against the Under by the of the Board, the Comptroller by the gency working fund.fund are drawn by the Bursar and fund is deposited in