Repository: UIHistories Project: Board of Trustees Minutes - 1916 [PAGE 208]

EXTRACTED TEXT FROM PAGE:

208

M. W .

UNIVERSITY

OF ILLINOIS,

[Mar.

2,

BUSEY, TREASURER I N ACCOUNT W I T H T H E UNIVERSITY—Concluded.

1914 Dec. 12 15 16 17 18 19 21 22 23 28 30 31

Dr. Received from L. E . K n o r r , A s s i s t a n t Comptroller, for credit of t r u s t funds Same Same Same *. Same Same Same Same Same Same Same Same

$

00 50 28 70 00 00 38 50 50 1 00 500 00 5 25

1 5 33 136 5 10 30

$110,513 04 1914 Dec. 31 31 31 Cr. B y a m o u n t p a i d o u t of g e n e r a l f u n d s a s p e r list of w a r r a n t s h e r e w i t h B y a m o u n t p a i d o u t of A g r i c u l t u r a l E x p e r i m e n t S t a t i o n F u n d a s p e r list of w a r r a n t s herewith B y a m o u n t p a i d o u t of t r u s t funds a s p e r list of w a r r a n t s h e r e w i t h $93,430 37 7,104 60 21,836 05 $193,484 3,352 3,982 133 76 01 94 75 $122,371 02

Balances— G e n e r a l fund Agricultural Experiment Station F u n d T r u s t funds College of Medicine

200,953 46 $323,324 48

Respectfully submitted,

BUDGET, 1914-15.

M. W. BUSEY, Treasurer.

President James presented the budget of the University for the fiscal year beginning June 1, 1914, and ending June 30, 1915, with the following prefactory statement:

T h e b u d g e t for t h e p r e s e n t y e a r h a s been d e l a y e d m u c h b e y o n d t h e u s u a l t i m e , a s w a s t h e b u d g e t for l a s t y e a r , b e c a u s e , a m o n g o t h e r t h i n g s , of t h e u n c e r t a i n t y a s t o t h e i n t e r p r e t a t i o n w h i c h S t a t e officials m i g h t p l a c e u p o n t h e w o r d i n g of t h e a p p r o p r i a t i o n b i l l s ; a n d also b e c a u s e of t h e possible d e m a n d of t h e S t a t e A u d i t o r u p o n t h e T r e a s u r e r of t h e U n i v e r s i t y t h a t t h e income of t h e U n i v e r s i t y d e r i v e d from s t u d e n t fees, F e d e r a l a p p r o p r i a t i o n s , gifts, etc., should be t u r n e d into t h e State treasury. T h e f o r m of t h e a p p r o p r i a t i o n bill for t h i s b i e n n i u m w a s v e r y different f r o m t h a t of p r e c e d i n g bills, a n d in s u c h c a s e s t h e r e is a l w a y s a n u n c e r t a i n e l e m e n t until, b y d a i l y a p p l i c a t i o n of t h e law, definite m e a n i n g h a s b e e n a s s i g n e d t o t h e v a r i o u s t e r m s used. If t h e T r u s t e e s h a d been compelled b y t h e decision of t h e c o u r t t o a l l o w t h e call of t h e S t a t e A u d i t o r f o r t h e funds in t h e h a n d s of t h e U n i v e r s i t y T r e a s u r e r , it w o u l d h a v e been impossible t o m a k e u p a b u d g e t for t h e p r e s e n t y e a r w i t h o u t a v e r y g r e a t deficit. T h e b a l a n c e of $21,273.74 i n d i c a t e d in t h e b u d g e t a s s u b m i t t e d t o t h e b o a r d [ p a g e 209] is w h a t I s h o u l d call a b o o k k e e p e r ' s b a l a n c e p u r e a n d simple. I t is a s c e r t a i n e d b y s e t t i n g over a g a i n s t t h e t o t a l e s t i m a t e d income of t h e U n i v e r s i t y d u r i n g t h e y e a r , t h e t o t a l e s t i m a t e d e x p e n d i t u r e a n d t a k i n g t h e difference. This w o u l d be a t r u e b a l a n c e if all t h e income of t h e U n i v e r s i t y w e r e a t t h e disposal of t h e T r u s t e e s t o e x p e n d a t t h e i r discretion, b u t a s a m a t t e r of f a c t t h e f u n d s a r e , in m a n y cases, limited t o c e r t a i n p u r p o s e s . T h e H a t c h F u n d , for e x a m p l e , is limited t o t h e A g r i c u l t u r a l E x p e r i m e n t S t a t i o n ; t h e a p p r o p r i a t i o n f o r t h e v e t e r i n a r y clinic t o t h a t s a m e p u r p o s e . A s a r e s u l t of t h i s l e g a l d i s t r i b u t i o n of t h e funds t h e y e a r ' s financial o p e r a t i o n s will s h o w l a r g e r s u r p l u s e s i n some a c c o u n t s t h a n t h e b a l a n c e a b o v e indicated, while o t h e r a c c o u n t s will s h o w o v e r d r a f t s . T h e p a s s a g e of t h e l a w p r o v i d i n g a mill t a x for t h e s u p p o r t of t h e U n i v e r s i t y h a s m a d e it possible f o r t h e T r u s t e e s t o p l a n for e x p e n d i t u r e s w h i c h h a v e n o t y e t been provided f o r , b y a p p r o p r i a t i o n s . T h i s i s especially t r u e in t h e c a s e of buildings. T h e b u d g e t c o n t a i n s , f o r b o o k k e e p i n g p u r p o s e s , t h e i t e m s for t h e S t a t e W a t e r S u r v e y a n d t h e M i n e r s ' a n d M e c h a n i c s ' I n s t i t u t e s , t h o u g h t h e e x p e n s e s for t h e s e d e p a r t m e n t s of w o r k a r e p r o v i d e d for b y special a p p r o p r i a t i o n . T h e B o a r d of T r u s t e e s f o u n d it n e c e s s a r y to e x p e n d a l a r g e r s u m u p o n t h e e x t e n s i o n a,nd e q u i p m e n t of t h e h e a t , light, a n d p o w e r p l a n t t h a n ^ h a d been o r i g i n a l l y c o n t e m p l a t e d , a n d t h i s r e d u c e d t h e p r o p o s e d e x p e n d i t u r e s for o t h e r p u r p o s e s ; a s , for e x a m p l e , t h e v i v a r i u m , w h i c h h a s n o t y e t a d v a n c e d b e y o n d t h e plans.