Repository: UIHistories Project: Board of Trustees Minutes - 1934 [PAGE 142]

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140

BOARD OF TRUSTEES

[October 21

Realisation of Income T h e progress toward the realization of the budget estimate of general income at the end of the quarter may be summarized as follows: Per cent of Year's Estimate Realised Estimate For Year State Appropriations for Operation ( P e r cent realized represents portion expended to September 30, 1932) : Mill T a x Fund $2000000 General Revenue Fund 2 400 000 Total State (4400000) Federal Funds 477 220 Student Fees 1 000 000 Agricultural Sales: Credited to Revolving Accounts 109 722 Credited to Budget Income. 80550 Miscellaneous Sales and Receipts 73 000 Total .$6 140 492 This Year Same Date Last Year

0.0 32.3 (17.6) 49.0 35.2 15.9 22.2 20.1 23.0

0.0 46.6 (24.0) 48.9 39a 18.6 16.5 20.8 28.0

Comments have already been made on certain of these items. At the beginning of the quarter there were anticipation tax notes outstanding against the University mill tax fund in the amount of $392,746 after allowing for the balance on hand applicable to these notes. All receipts from taxes during the quarter, amounting to $287,919, were reserved to apply to these notes and interest, leaving the net amount of notes yet to be covered as of the end of the quarter $108,290. Budget Expenditures Board appropriations to departments for the current fiscal year total $5,910,897, including salaries $4,197,957, and expense and equipment $1,712,940. Expenditures, including encumbrances unpaid, for the quarter amounted to $1,324438, or 22.3% of the year's appropriation. On the corresponding date a year ago these appropriations were 22.9% expended or encumbered. Expendable Trust Funds Balances at the beginning of the year and receipts for the year on account of Expendable T r u s t and Special Funds arising from gifts and income from endowments totalled $109,213; disbursements were $38,539; encumbrances were $°35; leaving an unencumbered balance at the end of the quarter of $70,039. Endowment Funds Endowment funds from private gifts for special purposes amounted, on September 30, 1932, to $369,632. Investments of these funds represented a book value of $364,966, leaving an uninvested cash balance as at the close of the quarter of $4,666. Student Loan Funds Student loan funds from private gifts as of September 30, 1932, totalled $210,973. Of this amount loans outstanding amounted to $205,210, leaving $5,763 available for loaning. Financial Statements T h e attached financial statements, 1 presenting in summary the operations of the quarter and a balance sheet of the University at the end of the quarter, are supported by detailed statements covering each item of income and each appropriation and fund on file in the Comptroller's Office. Respectfully submitted,

LLOYD MOREY

This report was received for record.

J

Comptroller

Filed in the office of the Secretary of the Board.