Repository: UIHistories Project: Board of Trustees Minutes - 1934 [PAGE 4]

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BOARD OF TRUSTEES

[July 13

MATTERS PRESENTED BY PRESIDENT CHASE

The Board considered the following matters presented by the President of the University.

THE BUDGET FOR 1 9 3 2 - 1 9 3 3 (1) A recommendation that the following budget for the fiscal year beginning July 1, 1932, and the academic year beginning September 1, 1932, be approved and that the President of the University be authorized to make such changes and adjustments as may be necessary, to make such additional appointments as are necessary, and to accept resignations offered in accordance with the needs of the University and the equitable interests involved. The operating budget represents a decrease of $747,000 under the fixed appropriations for 1931-32. There is included a reserve fund of $08,000 out of income for 1932-33, making the net decrease $649,000. On motion of Mr. Barr, the following budget as submitted by the President of the University was adopted as a tentative budget, subject to modification by the Board at any time during the period covered by the budget, and authority was granted the President of the University to make such changes, adjustments, and additional appointments as may be necessary, and to accept resignations offered, in accordance with the needs of the University and the equitable interests involved. T h e budget was adopted by the following vote: Aye, Mr. Armstrong, Mr. Barr, Mr. Barrett, M r s . Grigsby, Dr. Noble, Mr. Trees, Mr. Williams ; no, n o n e ; absent, Mr. Blair, Mr. Emmerson, Mrs. Hopkins. O n motion of Mr. Williams, the Finance Committee, the President of the University, and the Comptroller were directed to make a study of salaries and to report to the Board at the October meeting. Explanatory Notes Departmental appropriations are made under the captions "Salaries" and "Expense and Equipment." Unless otherwise indicated, no transfers may be made between these appropriation captions except with the approval of the President of the University. Appropriations for Salaries are available for the term indicated in each case but not for more than one year from September I. All balances remaining at the end of the term indicated or at August 31, lapse on those dates. Funds appropriated for positions in the salary budget which are not yet filled may, pending regular appointments, be drawn against for services of employees temporarily engaged to do the work contemplated by the position. When appointments are made at salary rates less than the amounts provided in the budget, the unused balance will lapse at that time. Appropriations for Expense and Equipment are available for one year beginning July r and ending June 30. These appropriations are based on an estimated distribution of expenditures according to the various budget classifications of "Wages, Office Expense, etc." Expenditures should be made in approximate accord with that distribution, material departure from which should be reported in advance to the Dean or Director or other officer concerned, and to the Comptroller. All unencumbered balances in these appropriations lapse June 30.