| |
| |
Caption: Board of Trustees Minutes - 1920
This is a reduced-resolution page image for fast online browsing.
EXTRACTED TEXT FROM PAGE:
440 BOARD OF TRUSTEES [July 12, J u n e 21-23, 1919, and also for record the m i n u t e s of the meeting of t h e E x e c u t i v e C o m m i t t e e held J u n e 2 1 , 1919. On motion of M r . A b b o t t , t h e m i n u t e s were a p p r o v e d and received for record as p r i n t e d on pages 323 to 438 a b o v e . MATTERS SUBMITTED BY ACTING PRESIDENT KINLEY T h e B o a r d considered t h e following Acting P r e s i d e n t of t h e U n i v e r s i t y . matters submitted by the CERTIFIED COPY OF T H E APPROPRIATION BILL (1) A certified copy of the Appropriation bill for the biennium beginning July 1, 1919, as approved by the Governor on June 23, 1919. The text of this bill appears on pages 395-397 above. . T h e bill was received to be filed. T H E BUDGET FOR 1919-20 (2) The Budget for 1919-20, with a preliminary statement touching on the following points: The mill tax. The excess appropriations for the biennium over income from mill-tax levy was $159,802.65. Out of an appropriation of $4,800,000 for the last biennium, we have, therefore, realized only $4,640,197.35. The cash balance in the hands of the state treasurer on June 30, 1919, $1,363,378.03 consisted of collections on the 1918 taxes and therefore is expendable only for appropriations for 1919-20. The University balance as of June 30 is in large measure apparent rather than real, because many appointments date from September 1 and run for 12 months. The real balance is therefore less than the apparent balance by the amount running from July 1 to August 31, inclusive. It is lessened also by the amount contained in the revolving funds of the College of Agriculture, not available for other purposes. The contingent or reserve fund should be greater. I started out with the intention of making this fund at least $200,000, but the amount found possible to set aside is much less, as shown in the summary of appropriations. GENERAL SUMMARY (a) (b) (c) (d) Free Balance of Unappropriated Income, July 1, 19191 Estimated Income for the year 1919-1920 Estimated Total Available Funds Appropriations for the year 1919-1920 ; ESTIMATED INCOME $ 244,102.02 3,723,746.18 3,967,848.20 3,967,848.20 Federal Funds Interest on Endowment Fund (Land Grant Act-—1862) (Paid by the State) $ Morrill Fund ;_ _ — _ Nelson Fund Hatch Fund 32,450.66 25,000.00 25,000.00 15,000.00
| |
