Repository: UIHistories Project: Board of Trustees Minutes - 1940 [PAGE 193]

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190

BOARD OF TRUSTEES

SUMMARY OF TOTAL BUDGET FOR 1939-1941

[January 14

Expenditures: A. Operating Expenses: 1. Educational 2. Non-educational Total

B. Buildings

$15 136 630 839 906 $15 97 6 536

2 225 000

Grand total

$18 201 536

On motion of Mr. Moschel, the budget as a whole, as revised and amended, and as shown in the summary, was approved, and authority was given to the President as requested, by the following vote: Aye, Mr. Adams, Mr. Cleary, Mr. Karraker, Mr. Mayer, Dr. Meyer, Mr. Moschel, Mrs. Plumb, Mr. Pogue, Mr. Wieland; no, none; absent, Mrs. Freeman, Mr. Horner.

REAPPROPRIATION OF F U N D S FOR CLASSROOM BUILDING (2) Under the law, the appropriation of $700,000 for a classroom building (Gregory H a l l ) made by the 60th General Assembly, first special session, 1938, will lapse on June 30, 1939, but any commitment made against it prior to that date can be paid until the expiration of the first fiscal quarter following the adjournment of the next General Assembly (the 61st) or until September 30, 1939Since Gregory Hall cannot be finished prior to that date, a reappropriation of any unexpended balance which would otherwise lapse at that time will be necessary. I recommend that the President of the University be authorized to have a reappropriation bill introduced in the 61st General Assembly and to take such steps as may be necessary to secure its passage.

On motion of Mr. Wieland, this authority was given as requested.

AMENDMENT OF STATE FINANCE ACT IN RELATION TO DEPOSIT OF UNIVERSITY F U N D S IN STATE TREASURY (3) Under an act of the General Assembly of Illinois passed in 1933, amending the State Finance Act, the gross amount of money received by the University of Illinois from whatever source, other than from endowment and trust funds and from Federal aid, must be deposited in the State Treasury and is covered into a special fund known as the "University of Illinois Revolving Fund." T h e Board of Trustees directed that legislation be introduced in the 61 st General Assembly changing the name of this fund to the "University of Illinois Income and Revolving Fund." T h e Director of Finance has suggested that the name of this fund be simply the "University Income Fund," and I concur in this. It is also desirable to secure another amendment of this section of the State Finance Act by including in the exemptions from its provisions funds from service charges, dormitory rent, or contributions, paid or made by students, alumni, or others to be held in trust by the Board of Trustees under trust agreements with such students, alumni, and others. This and the amendment of the title of the fund can be accomplished in one bill. I recommend that the Board of Trustees authorize the President of the University to secure the introduction of this legislation (as modified by the suggestion of the Director of Finance) and to take such steps as may be necessary to secure its passage.