Repository: UIHistories Project: Board of Trustees Minutes - 1942 [PAGE 818]

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I942J

UNIVERSITY OF ILLINOIS

815

per gallon, or an approximate total of $6,800, for the Physical Plant Department stock. This is approximately a six-month supply. 2. Rental of caps and gowns for 1942 Commencement exercises, Urbana Departments, from the Collegiate Cap and Gown Company, Champaign, Illinois, the lowest bidder, at a total cost of approximately $2,444.50. 3. One vacuum return line heating pump, capacity 150 G.P.M., from the Dunham Heating Service, Champaign, the lowest bidder, at a price of $1,314.72, freight allowed. Funds are available in the budget lor the purchase of this equipment. O n m o t i o n of M r . F o r n o f , t h e s e p u r c h a s e s w e r e a u t h o r i z e d . FINANCIAL REPORT OF ATHLETIC ASSOCIATION (19) At a meeting of the Board of Directors of the Athletic Association on January 27, 1042, the Business Manager presented a report on the Association's financial position with the recommendation that reductions be made in the budget for the current fiscal year totaling $6,250. H e also recommended that in view of present conditions estimates of income could safely be revised as follows: Original Revised Increase Basketball f 6 800 $ 9 000 $2 200 Ice Rink: General Receipts 15 000 16 000 1 000 Total Increase $3 200 Assuming that the remaining income of the Association would be realized in accordance with original estimates, and that the budget as revised would be expended in full, the readjustment would leave a budget deficit of about $1,991.92, and an estimated operating surplus as of June 30, 1942, of $6,386.83. The revised budget is summarized as follows: Income to December 31, 1941 $184 782 30 Estimated Income December 31, 1941, t o June 30, 1942 65 745 59 Total Estimated Income 1941-1942 $250 527 89 Expenditures from Budget Appropriations to December 31, 1941 114 263 41 Estimated Expenditures from Budget Appropriations December 31, 1941, to June 30, 1942: Salaries $43 356 66 Other Expense 94 899 74 138 256 40 Total Estimated Expenditures 1941-1942 (assuming expenditures in full of all appropriations) 252 519 81 Estimated Budget Deficit 1 991 92 Operating Surplus July 1, 1941 28 313 75 Less: Expenditures from Special Appropriations $ 185 86 Unexpended balance of Special Appropriations 19 749 14 19 935 °o 8 378 75 Estimated Operating Surplus June 30, 1942 $6 386 83 The Business Manager stated that everything was being done that could be done to economize in so far as this did not materially handicap the normal operation of the sports and that this policy would be continued. T h e Comptroller has commented on this financial situation as follows: "If the proposed program of reduction of expenditures is carried out the Association will have on June 30, 1942, an operating surplus of about $6,400 as compared with a surplus of $28,000 as at June 30, 1041. If, as Mr. Bowen says in his letter of February 13, the total expenditures do not exceed the total income for the year, this surplus would be increased to about $8400. The heavy reduction in surplus is due to special appropriations for the heat tunnel, the trophy room, improvements at Illinois Field, and lighting of the football field.