Repository: UIHistories Project: Board of Trustees Minutes - 1942 [PAGE 394]

EXTRACTED TEXT FROM PAGE:

1941]

UNIVERSITY OF ILLINOIS

391

page 149). T h e net proceeds from these trust farms are to be used as a loan fund to aid students. T h e report indicates a net income of $664.02 from the two farms, which is $1,123.65 less than the net income for the preceding year and $189.81 less than the average net income per year for the eighteen years that the University has operated the farms. Most of the reduced income was a result of low corn and soybean yields caused by drouth. T h e yields were reduced to about two-thirds of those obtained in 1939. Large amortization charges for improvements during the past few years also tended to reduce the net cash income. However, all the improvements were necessary in order to maintain an income, and some improvements, such as the spreading of limestone, will bring increased incomes in future years.

On motion of Mr. Wieland, this report was approved, and the President was authorized to make the improvements recommended.

SPECIAL APPROPRIATIONS AND NON-RECURRING EXPENDITURES (12) A recommendation that the following assignments be made from the General Reserve F u n d : 1. Remodeling and expanding of the Natural History Library $16 000 2. Purchase of special equipment for courses in Industrial Design and History of Art I 125

On motion of Mr. Adams, these recommended, by the following vote: Mr. Davis, Mr. Fornof, Mrs. Grigsby, Livingston, Dr. Meyer, Mr. Wieland;

appropriations were made as Aye, Mr. Adams, Mr. Cleary, Mr. Jensen, Mr. Karraker, Mr. no, none; absent, Mr. Green.

ADJUSTMENTS IN BUDGET FOR 1 9 4 0 - 1 9 4 1 (13) In approving the budget for 1040-1941 the Board authorized the President of the University to make such changes and adjustments as are necessary. Pursuant to this authorization the following adjustments were made in the operating budget during the fiscal quarter ending June 30, 1941: Permanent additions to current budget: I. Psychiatry salaries, to provide for the appointment of Francis J. Gerty $ 500 oo1 _'. Journalism salaries, to provide increase in salary of R. R. Barlow, previously paid from balance available in Siebert position 200 00 3. H i g h School Visitor's Office expense 500 00 Temporary additions to current budget: 4. Assignments to cover additional rental charges to Physical Education Department, for bowling, skating, and riding, necessitated by increase in fees of like amount 597 50 5. Aids to vocational agricultural teachers, salaries, to provide for salary of H. J. Rucker on temporary appointment (offset by increase in income from State Board of Vocational Education) 750 00 6. Equipment 175 °Q Total $2 722 50

On motion of Dr. Meyer, these adjustments were approved and the appropriation was made, by the following vote: Aye, Mr. Adams, Mr. Cleary, Mr. Davis, Mr. Fornof, Mrs. Grigsby, Mr. Jensen, Mr. Karraker, Mr. Livingston, Dr. Meyer, Mr. Wieland; no, none; absent, Mr. Green.

J Reported to Board of Trustees, but no appropriation made, at meeting of May 15, 1941, Minutes, page 278.