Repository: UIHistories Project: Board of Trustees Minutes - 1932 [PAGE 582]

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580

BOARD OF TRUSTEES

[April 20

This report was received for record. THE QUARTERLY REPORT OF THE COMPTROLLER (28) The following quarterly report of the Comptroller to the Board of Trustees as at March 31, 1932. A copy of this report has been delivered to Arthur Young and Company, auditors of the University accounts, for verification and transmittal with their report direct to the Board of Trustees. Copies of the Comptroller's report have also been sent to the members of the Board.

QUARTERLY REPORT OF THE COMPTROLLER QUARTER ENDED MARCH 31, 1932

SUMMARY Reserve and Contingent Fund The unappropriated balance of the Reserve and Contingent Fund at the close of the quarter was $165,663. as per Schedule B. The balance at the corresponding date a year ago was $54,355- Of the present amount, $39458 represents the unappropriated balance of the estimated income of the fiscal year, and $126,205 represents a balance carried forward July I, 1931. This is a book balance only; see notes on Schedules B and D. Budget Income Realization of the budget income for the quarter, as per Schedule D, was as follows: Percent aj Year's Estimate Realized Estimate This Same Date State Appropriations for Operation For Year Year Last Year (Percent realized represents portion expended to March 31, 1932) $4 940 000 00 62 I 65 5 Federal Funds 475 023 00 919 92 2 Student Fees 1 125 000 00 88 7 95 3 Agricultural Sales: Credited to Revolving Accounts.... 121 272 00 66 I 70 5 Credited to Budget Income 114 150 00 58 9 70 2 Miscellaneous Sales and Receipts 95 000 00 87 9 74 9 Treasurer's Balance The cash balance in all funds held by the University Treasurers at the close of the quarter, allowing for outstanding warrants, was $651,046, Schedule C O n the corresponding date a year ago, the balance was $020,102. O f the present balance, $122,214 represents general University funds, $109,542 Federal funds, $279,705 residence hall funds, and $140485 trust funds. Securities totaling $431,050 par value have been deposited by H. S. Capron, Treasurer, to secure the general University funds, Federal funds, and residence hall funds, the total balance being $343,802. Also, securities totaling $657,156 market value have been deposited by Frank M. Gordon, Treasurer, to secure his total balance of $151,106. State Funds Balances The total balance of all State Appropriations for the year as at the end of the quarter was $3,246,078. Of this total, $1,872,783 was for operations, $1,365,138 was for new buildings, and $8,157 was for special purposes (See Schedule C ) . The sum, $1,872,783, is payable out of the Mill T a x Fund, while $! .373.295 is payable out of the General Revenue Fund. The balance in the Mill Tax Fund at the end of the quarter, allowing for outstanding warrants was $12,038.74. Uncollected taxes for 1929 and 1930 account for the unrealized difference. Budget Expenditures Board appropriations to departments for the current fiscal year total $6,668,246, including salaries $4478,079, and expense and equipment $2,190,167.