Repository: UIHistories Project: Board of Trustees Minutes - 1970 [PAGE 961]

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1970]

UNIVERSITY OF ILLINOIS

961

Report of the Comptroller The Comptroller reported the following changes in investments of current and unexpended plant funds, which he has been authorized to make: Current Restricted Group Purchases: $ 500 000 1 000 000 1 000 000 275 000 1 000 000 1 000 000 1 000 000 300 000 1 000 000 Genesco note due S/2S/70 Bell & Howell note due 7/1/70 Avco Delta note due 7/3/70 First National Bank of Chicago working capital ace. due 7/14/70 Amoco Credit note due 8/4/70 B-W Acceptance note due 8/17/70 Clark Eq. Credit note due 9/1/70 Liberty Loan note due 9/3/70 Arkansas Louisiana Gas note due 9/8/70 Funds Per Cent 8.65 469 531 25 per Cent 8 21 $494 809 03 8 42 979 604 17 8.30 979 236 11 8.40 8.21 8 24 8.36 8.36 8.13 270 084 974 000 971 111 971336 291 401 968 500 37 00 11 81 04 00 Funds

Construction Faculty Center Building Purchase: $500 000 Jim Walter note due 1/22/71

This report was received for record.

APPOINTMENTS TO NONACADEM1C POSITIONS FOR 1 9 7 0 - 7 1 (40) Since the amount included in the F Y 1971 budget for salary increases was reduced by the Governor in his budget from the amount approved by the Board of Higher Education, and since the final amount to be appropriated was not determined until late in the legislative session, it was not possible to start preparation of the internal operating budget until seven weeks after the originally scheduled date. Therefore, the budget will not be ready for consideration by the Board until about the middle of August. Appointments and changes in salaries and wages for the nonacademic staff become effective July 1. In order to prepare the July payroll, authorization of payment of salaries and wages proposed for the nonacademic employees for F Y 1971 is needed at this time. The President of the University requests authorization to put into effect, as of July 1, the nonacademic salaries and wages finally recommended for inclusion in the F Y 1971 budget. Continuation of these salary and wage scales will be subject to final approval by the Board when the budget is submitted in August. O n m o t i o n of M r . S w a i n , a u t h o r i t y w a s g i v e n a s r e q u e s t e d . LEASE OF 1 1 1 5 WEST OREGON STREET, URBANA (41) The President of the University, with the concurrence of appropriate administrative officers, recommends that the Board of Trustees request the University of Illinois Foundation to enter into a lease of a portion of the lower level (2,135 square feet) of the property at 1115 West Oregon Street, Urbana, for an instructional laboratory for the Department of Dance, at an annual rental of $6,000 for the period beginning July 1, 1970, and extending until June 30, 1972, and at an annual rental of $5,400 for the period beginning July 1, 1972, and extending until June 30, 1975, and that the Foundation sublease the space to the University at the same rental on an annual basis. Funds for minor remodeling and for rental and operation until June 30, 1971, are available in the operating budget of the Department of Plant and Services. Funds required for annual renewals of the sublease and for operation costs after that date will be requested in the budget of the Department of Plant and Services on an annual basis.

On motion of Mr. Hahn, this recommendation was approved by the following vote: Aye, Mr. Clement, Mr. Hahn, Mr. Hughes, Mr. Steger, Mr. Swain, Dr. Walker; no, none; absent, Mr. Grimes, Mr. Jones, Governor Ogilvie, Mr. Page, Mr. Stone.