Repository: UIHistories Project: Board of Trustees Minutes - 1928 [PAGE 550]

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1928]

UNIVERSITY O F ILLINOIS

547

$117,636, as per Schedule A, leaving a balance of $226,001 in the Reserve and Contingent Fund at the close of the quarter. The balance at the corresponding date a year ago was $215,116. Budget Income Realization of the budget income for six months ending with the present quarter as per Schedule B, was as follows: Per Cent of Year's Estimate Realized Estimate This Same Date For Year Year Last Year State Appropriations for Operation (Per Cent realized represents portion expended to December 31, 1927) $4500000 51.5 52.4 Federal Funds 397 947 54.1 54.4 Student Fees 850000 51.3 53.7 Agricultural Sales Credited to Revolving Accounts 128 840 49.4 42.8 Credited to Agricultural Income 108300 64.7 51.2 Miscellaneous Sales and Receipts 76525 53.5 63.5 Treasurer's Balance The balance in all funds in the hands of the University Treasurer at the close of the quarter, allowing for outstanding warrants, was $929,038, Schedule D. O n the corresponding date a year ago, the balance was $982,999. Budget Expenditures Board appropriations to departments for the currentfiscalyear total $5,828,289, including salaries $3,816,103, expense and equipment $2,012,186. These were 45.7% expended at the end of the quarter, and 2.4% encumbered. (Included in Schedule C.) O n the corresponding date a year ago these appropriations were 44.0% expended and 3.3% encumbered. Building and Improvement Funds Building and Improvement funds for the biennium were 34.5% expended at the end of the quarter, and 18.6% encumbered, as per Schedule C. Trust Funds Endowment funds from private gifts for special purposes (see Schedule D ) are distributed as follows: Educational Endowments $110 000 Student Loan Endowments 132 736 (The sum of $107,736 is loanable, of which $104,169 was outstanding in student notes at the end of the quarter.) Scholarship and Prize Endowments 89 172 Other Endowments 97 931 Total $429 839 Indebtedness on Property Outstanding indebtedness on University property at the end of the quarter consisted solely of 6 % bonds totalling $60,000 on the Dental Building in Chicago, due in 1932. Of this amount $7,600 is held in the Treasury of the University (Schedule D ) . Residence Halls A summary of the operations in the residence halls for the year to December 15, 1927, is shown as Appendix I. The balance from operations in