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Caption: Board of Trustees Minutes - 1922
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22 BOARD OF TRUSTEES FINANCIAL. REPORT IU-INI HALL [July 26, (30) The financial report of Illini Hall and Cafeteria (Y.M.C.A. building) for the year ended June 30,1920. July 23,1920 President David Kinley, University of Illinois M Y DEAR PRESIDENT KINLEY: • - I beg to submit herewith a financial report of the Illini Hall and Cafeteria for the year ending June 30, 1920. This date marks the expiration of the contract with the Y.M.C.A. under which the Y.M.C.A. was to receive for rental the sum of $5,000, and in addition, one-half of the net profits from the building including the cafeteria. The attached statements show the incomes and expenses, the profits and : losses, and the distribution of profits between the Y.M.C.A., and the University. Cordially Yours, LLOYD MOREY . UNIVERSITY ACCOUNT ILLINI HALL AND CAFETERIA Debit Credit $ 3,712.66 702.98 $ 4,415.64 Credit $ 3,712.66 •One half of year's profits 10% depreciation on House equipment Equipment purchased Cash deficit June 30, 1920 51.94 4,363.70 $ 4,415.64 Y.M.C.A. ACCOUNT ILLINI HALL AND CAFETERIA Debit One half of year's profit. Equipment purchased during year, 90% of cost . . . . $ 467.45 Repairs on high pressure line 156.48 Repairs on building 25.95 Balance on S.M.A. account 2,332.89 Balance due Y.M.C.A., June 30, 1920 729.89 $ 3,712.66 SUMMARY PROFIT AND LOSS STATEMENT ILLINI HALL AND CAFETERIA Operating profit from Cafeteria Operating profit from House Total Less: Expended for redecorating . Net Profits for distribution BALANCE SHEET, ILLINI Assets Petty Cash Fund Accounts Receivable Deferred charges Inventory June 30, 1920 Equipment (purchased '19-20) Cafeteria $ House HALL, JUNE $ $ 3,712.66 $ 10,188.05 356.79 • ••(10,544.84) 3,119.52 $ 7,425.32 30,1920 200.00 205.00 200.00 8,888.54 4,363.70* $ 13,857.24 -2,608.03 1,755.67
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