Repository: UIHistories Project: Board of Trustees Minutes - 1972 [PAGE 563]

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1972]

UNIVERSITY OF ILLINOIS

553

II. Supplemental Report on the Operating Budget for FY 1972-73 Revised summary of amounts and sources of proposed increases. At the meeting of the Board on February IS, 1972, a Provisional Report was submitted on plans for the F Y 1972-73 budget, in the light of the recommendations of the Board of Higher Education. The following revisions of those tentative plans have been proposed by the University Budget Committee: Salary increases $ 9000000 Annualization of F Y 1971-72 increases $ 5 100 000 F Y 1972-73 increases (4.5 per cent beginning December l ) 1 3 900 000 Program increases 5 021 000 Health fields 4 691 000 Other areas 330 000 Reserve to be assigned 500 000 Refunds (net) 13 779 Total $ 14 534 779 It is anticipated that the following sources will provide the increases needed in the University's FY 1972-73 budget for operations: A. Additional Funds 1. Appropriation increase recommended by I B H E $ 1 2. Federal health-manpower funds 2 3. Further increase in the University income fund 3 Subtotal (7 B. Budget Reductions and Reallocations (including Transfers of Costs from State Appropriations to Revolving Funds) 1. Transfers to revolving funds $ 1 2. Budget reductions 5 Subtotal (7 Total Available for Increases $ 14 in 737 401 332 471 funds 552 000 500 052)

398 665 063 534

500 227 727) 779

Increase in income fund. The University Budget Committee recommends that the income-fund appropriation for F Y 1972-73 be increased by $3,332,500 above the sum of $24,580,000 included in the Board of Higher Education's recommendations and the Governor's budget. The revised total in the appropriation bill for operations, including retirement system contributions, would then be as follows: General Revenue Fund University Income Agricultural Premium Fund Total 1. 2. 3. 4. 5. 6. 7. Original $160 268 181 24 580 000 1 231 000 $186 079 181 Revised $160 268 181 27 912 500 1 231 000 $189 411 681

The estimated increase would be provided from the following sources: University of Illinois Hospital $1000000 Reduction in tuition waivers 1 500 000 Reduction in tuition withheld as housing subsidy 250 000 Increase in extension tuition 100 000 Increase in application fee 257 500 Increase in investment income 175 000 Service charge for accounts receivable 50 000 Total $ 3 332 500

/ recommend that the Board authorize an increase in the University's Income Fund in the amount of $3,332,500, to be added to the University's appropriation bill for FY 1972-73.

1 Under present regulations of the Pay Board, the full increase in salary rate could not become effective until December 1, 1972 — the initiation date of the 1971-72 increase of 5 per cent.