Repository: UIHistories Project: Board of Trustees Minutes - 1960 [PAGE 143]

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140

BOARD OF TRUSTEES

[October 23

I. II.

III. IV. V. VI. VII VIII

Schedule A — S u m m a r y of 1959-61 Biennial Budget (All amounts are for two years except as noted) Requested by Amount Deans and Directors Recommended Contribution t o University Retirement System $ 997 200 $ 997 200 A. T o continue for a full biennium, funds required for one year only in 1957-59 I 485 600 1 485 600 — 500 000 Less Income Fund not spent in 1957-59. . . — 500 0 0 0 Net Amount t o continue present b u d g e t . . . (985 600) (985 600) B. For essential increases in expense and equip4 000 000 ment 4 024 982 C. T o continue on a permanent basis, expendi1 415 000 1 415 000 tures financed temporarily from s a v i n g s . . . 12 000 ooo1 Salary adjustments for all staff 12 000 000 University's contribution to staff health insurance program 600 000 600 000 I 290 2001 T o put new buildings into operation I 290 200 I 480 ooo1 For additional enrollment I 0 2 7 544 4 100 000 To improve educational program 14 334 918 80 000 Increases in refunds 80 000 Total Increases $36 755 544 $ 26 948 000 Present Budget 104 562 ooo2 Proposed Budget $131 510 000 Fund Distribution General Revenue $ 92 562 ooo2 25 848 OOO J118 410 000 Income Fund $12 000 000 1 100 000 $13 100 000 Total $104 562 ooo2 26 948 000 J131 510 000

Present Budget Increase Proposed Budget

EXPLANATION OF INCREASES REQUESTED I. Contribution to Retirement System $997 200 T h e University Retirement System provides disability and retirement benefits to all permanent staff members and employees of the University, of the other state universities, and of the three scientific surveys. T h e University's share of the cost of the System is included regularly in University appropriations. An increase of $695,000 for the biennium is required for the benefits to be provided under the present law, mainly because of the larger number of persons who will be on retirement. An additional $302,200 is included to provide for needed improvements in the Retirement System, which have been approved by its Board of Trustees. I I A . To continue for a full biennium, the funds required for one year only in I957S9 $985 600 A s reported to the Seventieth General Assembly, $1,985,600 was included for additional enrollment, new buildings, and salary adjustments for 1958-59. In approving the budget, the General Assembly anticipated that additional appropriations equal to this amount would be required in 1959-61 to continue the level established in this budget. Because enrollments were below estimates, the 1958-59 budget exceeds the 1957-58 budget by $1,485,600 instead of by $1,985,600. T h e increases in the second year a r e : Salary adjustments $1 097 074 Operation of Biology Building 84 000 Operating expense of Research and Educational Hospitals from additional hospital income 215 000 F o r increased enrollment 89 526 $1 485 600

1 Includes funds for second year of biennium only, as follows: salary adjustments, $4,000,000; new buildings, $348,000; additional enrollment, $780,000; total, $5,128,000. 2 Includes separate appropriations for Gerontological Committee, Horseradish Research, and Agricultural Extension.