Repository: UIHistories Project: Board of Trustees Minutes - 1930 [PAGE 204]

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1929]

U N I V E R S I T Y O F ILLINOIS

201

to appropriation accounts when the service has been completed, the revolving accounts being credited. Schedule O covers only the cash transactions of the residence halls, hospital, and tenant houses. The latter are houses which have not yet been removed from land purchased for future use. A complete statement, showing net income and surplus, is given in Appendix I. Schedule P shows all trust endowments held by the University, and Schedule Q gives the operations of all expendable trust funds. Schedule R is a balance sheet showing all assets for which the Board of Trustees is responsible and all commitments and obligations of those assets. Thefigurescontained in this Report are cumulative for the fiscal year to date and, therefore, represent thefinancialoperation of the University for the nine months ending March 31, 1929, and thefinancialcondition of the University at that date. This report is subject to audit by the accounting firm employed by the Board for that purpose. The certificate of audit will be furnished as soon as the audit is complete. Respectfully submitted,

Lloyd Morey

Comptroller

SUMMARY

Reserve and Contingent Fund The unappropriated balance of the Reserve and Contingent Fund (estimated excess of income of the year over appropriations) at the beginning of the quarter was $128,541. Net deductions during the quarter totalled $15,373, as per Schedule A, leaving a balance of $113,168 in the Reserve and Contingent Fund at the close of the quarter. The balance at the corresponding date a year ago was J 164,736. Budget Income Realization of the budget income for nine 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 March 31, 1929) ¥4 500 000 79.8 79.1 Federal Funds 438 075 87. 2 91.1 Student Fees 850000 93.6 92.7 Agricultural Sales Credited to Revolving Accounts 124 860 86.4 79.5 Credited to Agricultural Income 132 600 82.3 83. 8 Miscellaneous Sales and Receipts 90 000 79-3 89.5 Treasurer's Balance The cash balance in all funds in the hands of the University Treasurer at the close of the quarter, allowing for outstanding warrants, was $1,386,300, Schedule C. O n the corresponding date a year ago, the balance was $1,294,820. Budget Expenditures Board appropriations to departments for the currentfiscalyear total $6,003,102, including salaries $3,931,008, expense and equipment $2,072,094. These were 69.8 per cent expended at the end of the quarter, and 2.1 per cent encumbered. (Included in Schedule D ) . O n the corresponding date a year ago these appropriations were 69.8 per cent expended and 2.3 per cent encumbered. Building and Improvement Funds Building and Improvement funds for the biennium were 49.6 per cent expended at the end of the quarter, and 30.8 per cent encumbered, as per Schedule D. O n the encumbered. date last bicnnium, they were 57.9 per cent expended and 32.3 per cent corresponding