Repository: UIHistories Project: Board of Trustees Minutes - 1938 [PAGE 368]

EXTRACTED TEXT FROM PAGE:

366

BOARD OF TRUSTEES

[August 2

following vote: Aye, Mr. Adams, Mr. Cleary, Mr. Karraker, Dr. Meyer, Mr. Moschel, Mrs. Plumb, Mr. Pogue, Mr. Wieland; no, none; absent, Mrs. Freeman, Mr. Horner, Mr. Mayer.

SUMMARY OF INTERNAL BUDGET FOR 1937-1938

T h e total of all State appropriations to the University for the biennium beginning July 1, 1937, was $14 499 632 Included in this total is the appropriation for equipment of the new Medical and Dental Building 350 000 Leaving for current expenditures for the two years a total of $14 149 632 This figure includes an estimated total of $181,213 per year representing strictly revolving activities, such as sales of stores and services to affiliated organizations, refunds of student fees, and other similar items, a total for the biennium of 362 426 Leaving a net total applicable to the operating budgets of the two years amounting to $13 787 206 Of this total the following income is applicable to the second year of the biennium: One-half tax revenue appropriations $5 077 051 Federal funds (in State T r e a s u r y ) 163 318 Student fees (less Medical and Dental Laboratories rental, $86,000) I 192 200 Sales and services, educational 337 788 Smith-Hughes reimbursements 15 000 Residence halls and hospitals 150 000 6 935 357 Leaving the amount available from State appropriations for the year 1937-1938 for current expenditures To this total is to be added the amounts received by the University from sources other than State appropriations and handled through its own treasury as follows: Federal funds (received directly and not subject to ^appropriation by the State) $ 712 640 Income reserved for rental on Medical and Dental College Laboratories Building 86 000 Gifts and income on endowments 268 585 Making a grand total of estimated income for current purposes for 1937-1938 $ 6 851 849

1 067 225 $ 7 919 074

T h e budget of expenditures as submitted, with comparative figures of the budget of the preceding year, is as follows: 1936-1937 1936-1937 I937-I93S Original Including Budget Budget Revisions (page 370) Salaries and Wages $5 292 866 $5 357 247 $6 092 511 Expense and Equipment I 383 682 I 530 633 1 790 708 Total $6 676 548 $6 893 880 $7 883 219 T h e increases represented by this budget, therefore, over the revised budget for 1936-1937 are as follows: Salaries and Wages $735 264 Expense and Equipment 254 075 Total increase in expenditure budget from all funds $989 339 Add: Balance unappropriated in internal budget, and retained as general reserve 35 855 Total budget increase $1 025 194 Total estimated income, 1937-1938 $7 919 074 Of the increased expenditures budget of $989,339, the sum of $156,719 is represented by increases in restricted Federal and trust funds. T h e remainder,