Caption: Board of Trustees Minutes - 1968
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568 With Whom Reliable Plumbing and Heating Company BOABD OF TRUSTEES [June 20 The Nu-Way Contracting Corp. George S. Walker Plumbing and Heating, Inc. Total Amount to be Paid by the University Library, Davenport t 2 784 00 Hall, Mechanical Engineering, and Taft-Van Doren Halls Cost-plus contracts — heating, Dentistry-Medicine4 120 00 piping, and refrigeration Pharmacy Building, Second Unit Hospital Addition, 6 S40 00 Medical Center Cost-plus contract — storm Undergraduate 9 000 00 and sanitary sewers Library ?75 619 00 Purpose Cost-plus contract — heating and ventilating Summary Amount to be paid to the University Amount to be paid by the University £841 522 00 108 733 00 This report was received for record. EMPLOYMENT O F AUDITORS (37) The Board of Trustees on February 16, 1966, approved the employment of Arthur Andersen & Co. for the audit of the year ending June 30, 1966, with the intention that the employment be continued for a total of five years. The audit is made jointly to the Board of Trustees and to the Auditor General, who must approve the arrangements. The Auditor General has indicated his desire to pay one-half of the cost of the audit of the University and its allied organizations out of funds appropriated to his office for that purpose. Arthur Andersen & Co. has indicated its willingness to undertake the appointment with the understanding the charges will be at the prevailing hourly rates for audits for colleges and universities, plus cash expenses, and with the further understanding that the aggregate charges will not exceed the following amounts, one-half of which will be paid by the Auditor General: „ Proposed Maximum University of Illinois (including reports on revenue bond funds) $37 860 00 State Universities Retirement System of Illinois 3 540 00 University of Illinois Foundation 3 822 00 University of Illinois Alumni Association 2 380 00 University of Illinois Athletic Association including Retirement System 3 415 00 The Auditor General concurs in these recommendations. * On motion of Mr. Grimes, these recommendations were approved. INVESTMENT REPORT Report of the Finance Committee (38) The Finance Committee reported the following changes in investments of endowment funds for the month of April, 1967: Miller Sale $50 000 U.S. Treasury 4 per cent bonds due 10/1/69 $ 49 531 25 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, for the month of April, 1967: Current Funds RESTRICTED GROUP Purchase $ 750 000 Sears, Roebuck Ace. Corp. due 7/17/67 750 000 CIT Financial Corp. due 8/4/67 $ 750 000 00 750 000 00
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