Repository: UIHistories Project: Board of Trustees Minutes - 1956 [PAGE 340]

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1955]

UNIVERSITY OF ILLINOIS

337

Johnston, Mr. Livingston, Mr. Megran, Mr. Nickell, Mr. Swain, Mrs. Watkins, Mr. Williamson; no, none; absent, Mr. Stratton.

MIDWESTERN UNIVERSITIES RESEARCH ASSOCIATION AND UNIVERSITY PATENT POLICY (27) By authority of the Board of Trustees, the University of Illinois has entered into an agreement with other universities to organize a nonprofit corporation which will promote high energy nuclear research. The Universities of Illinois, Indiana, Iowa, Michigan, Minnesota, and Wisconsin, Purdue University, and Iowa State College have formed the Midwestern Universities Research Association which is now sponsoring research at various institutions through grants which it has received through the National Science Foundation. The work being done at the several institutions under these grants is so closely related that it will be difficult to determine where rights to any patentable inventions which may result would lie. Hence, it has been proposed that institutions be required to agree, in accepting grants from M U R A , to release to the latter all rights to inventions which may arise from studies financed in whole or in part by M U R A grants. The inventions will then be controlled by M U R A for the benefit of all participating institutions. The University of Illinois Patent Committee has considered this proposal and recommends that the Board of Trustees authorize the University to waive its rights to patentable inventions in accepting grants from the Midwestern Universities Research Association for research in high energy nuclear physics. I concur.

On motion of Mr. Livingston, this recommendation was approved.

EMPLOYMENT O F UNIVERSITY AUDITORS

The Finance Committee recommends that the Board continue its practice of employing a firm of public accountants to conduct an annual audit of the University's accounts. Discussions between representatives of the University and the Office of the Auditor of Public Accounts have resulted in the following mutually acceptable procedure for the audit of the University records for the year ended June 30, 1955.

1. The firm employed by the Board of Trustees shall make the audit. 2. The working papers of this firm shall be made available to the firm of Peat, Marwick, Mitchell and Company, Chicago, who will act as consultants for the Auditor of Public Accounts on the University audit. 3. Any special studies over and beyond the usual audit requested by the State Auditor shall be paid from funds available to the State Auditor. 4. The report of the audit shall be issued jointly to the Board of Trustees and the Auditor of Public Accounts.

The Finance Committee recommends that the Board approve this arrangement. The Committee also recommends the engagement of the firm of Haskins & Sells of Chicago for this audit. The fee is based on per diem rates and expenses, with the understanding that the aggregate charges will not exceed the following amounts:

University of Illinois (all divisions) $14 500 University of Illinois Foundation (including its Retirement System) 725 University of Illinois Athletic Association (including its Retirement System) 900

On motion of Mr. Livingston, these recommendations were approved.

TREASURER'S BOND

Mr. Livingston, for the Finance Committee, reported that Mr. C. W. Weldon, Treasurer, has presented a satisfactory bond in the amount of ?5.ooo,ooo as required by the Board. This report was received for record.