Repository: UIHistories Project: Board of Trustees Minutes - 1936 [PAGE 663]

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66o

BOAXD OF TRUSTEES

[May 27

covered by the budget. This general income amounts to an estimated total of $5,533,657 (page 662) as compared with $5,411,551 for the preceding year. T h e increase in income between the two years results mainly from ( a ) an estimated increased income from student fees of $70,000 resulting from an expected larger enrollment, and ( b ) an increase of $51,106 in Federal appropriations for instruction under the Bankhead-Jones Act. T h e requests from the various divisions of the University for appropriations from general University income for the coming year amounted to $28,571 in excess of the available income. In addition, it is necessary to make provision for the obligations accruing during the year on the bond issue for the new Medical and Dental Building unit. These obligations consist of an annual total of $86,000 payable in monthly installments beginning January, 1937. The amount which must be taken care of during the coming fiscal year, therefore, is $43,000. It has consequently been necessary to make adjustments in the requests of all divisions of the University in order to bring the total budget of expenditures for the coming year within available income. As a result of these adjustments, the budget as presented provides for a contingent reserve of $16,263 but without taking care of the sum of $43,000 applicable to the Medical Building bond issue. To provide for that item the following resources are anticipated which it is believed will be ample to protect the Board in its obligations in this respect: (1) the sum of $25,000 in the Physical Plant budget has been set over into a contingent reserve to be expended only with the approval of the President; (2) judging by the experience of the past, it seems likely that some unexpended balances may arise in various parts of the budget; (3) in addition, there will likely be some unexpended balance at the close of the present fiscal year. Referring again to the total budget of all funds for the coming year, the distribution of the budget with comparative figures of the original budget for the preceding year is as follows: 1935-1936 1936-1937 Salaries and wages $5 172 572 $5 292 866 Expense and equipment 1 393 608 I 383 682 General reserve 16 530 16 263 Total $6 582 710 $6 692 811 The increase in the budget for salaries and wages includes the following principal items: ( a ) Addition to the staff to take care of increased enrollment and relieve over-burdened conditions $ 85 541 (b) Increases in individual salaries to prevent loss of valuable members of the staff and provide essential recognition in individual cases 34 018 (c) Retirements (net) 8 982 Total $128 541 A part of the foregoing increase has been met by reductions in expense and equipment budgets with the result that the net increase in the salaries and wages budget is $120,204. As a result of these and other adjustments, the expense and equipment budget shows a net decrease of $9,926 and the amount of the general reserve is practically the same as in the original budget of last year. Included in the foregoing figures are increases for: Radio Station (due to increased hours of o p e r a t i o n ) . . . Dairy Department, resulting from adoption of Dairy Commission report Law Library, increase in fund for purchase of b o o k s . . . Reorganization of Surgery and Neurological S u r g e r y . . . Half-time person for Physical Education for Chicago Departments Addition to Health Service staff $1 159 5 190 1 000 9 450 700 3 500