Repository: UIHistories Project: Board of Trustees Minutes - 1869 [PAGE 71]

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57

RECAPITULATION.

180,000 acres sold for 100,000 " " " 100,000 « " "

$101,764.50 58,427.91 90,000.00

Total $250,192.41 Invested as follows: 40,000 Champaign Co. bonds, 10 per cent., int. payable annually May 1st $40,000.00 50,000 Sangamon Co. 9 per cent., int. payable semi-annually, 1st of April and 1st of October 50,000.00 25,000 Morgan Co, bonds, 10 per /cent., int. payable annually, June 15th 25,000.00 25,000 Chicago city 7 per cent, water bonds, int. payable semiannually, July and January • 24,961.80 109,000 Illinois 6 per cent, bonds—cost par and interest 110,153.34 Invested Balance for scrip pn hand Total

SPBTNG-FIELD, November 17th, 1868.

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$250,115.14 77.27 $250,192.41

JOHffW. BUNN, Treasurer.

REPORT OF FINANCE COMMITTEE.

To the Board of Trustees Illinois Industrial University : The Finance Committee would submit the following suggestions : Our March estimates for the receipts of the current year, together with money then in the hands of the Treasurer, amount to $33,373 10. Our estimates of expenses for same time amounted to $28,295 10. Upon looking over the Treasurer's report, we find that $26,000 has already been used, leaving only 2,0 for the next four months, appropriated. As the various committees have not reported what they will probably need for their departments for the balance of the year, we cannot ask, at this meeting, for any further appropriations. The current salaries, however, amount to about $1500 per month. The Treasurer reports amount on hand at this time at about $6000, which would cover this expense, leaving the January interest and other receipts, which he estimates at 5,000, to pay any other expense that may be ordered by this Board or the Executive committee between now and the March meeting. The Executive committee ordered the sale of 50,000 acres of land scrip, at $1 10. We have not been able to sell at these figures. This committee would ask further instructions from the full Board in regard to this matter. The 25,000 acres of scrip authorized to be located, has, as yet, not been effected. This committee would recommend that the Treasurer and Mr. Goltra be authorized to make such locations.