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Caption: Board of Trustees Minutes - 1934
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210 BOARD OF TRUSTEES [April II on sixty days notice, and not to extend beyond January i, 1934, unless renewed. REVISED BUDGET ESTIMATE FOR THE BIENNIUM {General funds only, excluding all funds restricted as to use) 1933-35 (17) At the meeting of last December, the Board approved a budget of state appropriation requests for the coming biennium amounting to a total of $8,900,000, or $4,450,000 a year. This budget was based on estimated total expenses of the various divisions of the University for the coming biennium amounting to $5,407,400 a year, this figure including income from student fees, certain Federal funds, and miscellaneous receipts as well as from state appropriations. The budget as approved a t that time allowed for a reduction in salaries amounting to 10% on the amount of each salary above $1,000, which reduction was later made effective March 1, 1933. In the past few weeks this budget has been carefully restudied in the light of present conditions and prospects of enrollment for the coming year. The total of the revised estimates of the various divisions and activities is $5,053,000, of which $973,000 will be available from student fees and other University income, leaving a total of $4,080,000 needed as an annual state appropriation to meet this revised budget. The proposed budget would represent a reduction of 17.4% in the annual state appropriation for current expense for the present biennium. It would represent a reduction of 37.8% from the actual expenditures made from state funds in the year 1930-31, in which year the state paid out for the University the largest amount of any year in its history. A further reduction of $175,000 a year, or $350,000 for the biennium, could be effected by an additional salary cut of 5 % on salaries below $6ooo, and 6 % on $6000 and above (applied to the original salaries as fixed in the budget of July, 1932). Under this plan, the total askings from the State would be $7,810,000 for the biennium. On motion of Dr. Meyer, the President of the University was authorized to take steps to secure an appropriation from the General Assembly of $7,810,000 for the next biennium. NEEDS OF T H E COLLEGE OF AGRICULTURE At this point, Dean Mumford made a statement concerning the needs of the College of Agriculture and the Agricultural Experiment Station. DATE OF MAY MEETING The May meeting was set for 10 o'clock a.m. Wednesday, May 24, 1933. at the Palmer House, in Chicago. GRADUATE SCHOLARSHIPS AND FELLOWSHIPS The Secretary presented for record the following list of graduate scholars and fellows in the Economics of Public Utilities appointed by the President of the University. John H. Armstrong Vernon P. Christman Severin P. Langhoff Wayne L. McMillen James C. Pettee Robert C. Sloan William H. Taylor John J. Thornborrow Merle C. Turney Theodore L. Whitesel Fellowship Fellowship Fellowship Fellowship Fellowship Scholarship Fellowship Fellowship Scholarship Fellowship $500 500 700 500 500 300 700 500 300 500
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