Repository: UIHistories Project: Board of Trustees Minutes - 1942 [PAGE 925]

EXTRACTED TEXT FROM PAGE:

922

BOARD OF TRUSTEES

[June 20

Mr. Adams, Mr. Cleary, Mr. Davis, Mr. Fornof, Mrs. Grigsby, Mr. Jensen, Mr. Karraker, Mr. Livingston, Dr. Meyer; no, none; absent, Mr. Green, Mr. Wieland.

REAPPROPRIATION OF UNEXPENDED BALANCES (18) A recommendation that the following estimated balances in certain funds as of June 30, 1942, be reappropriated for the purposes indicated for the fiscal year beginning July 1, 1042: Alumni program $ 9 000 University history 7 870 Business operations survey 20 000 War bond sales 1 500 Medical Center Commission I 000 Higher education conference 4 877 Liberal Arts and Sciences special equipment 2 500 Electron accelerator 9 764 Wheel assemblies 20 000 Engineering special equipment 5 000 Agriculture special equipment 3 920 Graduate School research 3 500 Colloid chemistry research 1 190 Vocational education—municipal finance I 725 Musical instrument replacements 481 Military—exhaust system 300 Medicine regular equipment 400 Radiology special equipment 147 Research and Educational Hospitals 45 000 Chicago Illini Union Building (Physical Plant) 5 963 Chicago Illini Union equipment (Physical Plant) 5 800 Natural History Library equipment 7 041 Natural History Library improvements 6 089 Load center in Noyes Chemistry Laboratory 20 000 Sabotage protection: In Chicago 53 550 In Urbana-Champaign 3 680 7 23° Total $190 297

On motion of Mr. Fornof, these balances were reappropriated as recommended, by the following vote: Aye, Mr. Adams, Mr. Cleary, Mr. Davis, Mr. Fornof, Mrs. Grigsby, Mr. Jensen, Mr. Karraker, Mr. Livingston, Dr. Meyer; no, none; absent, Mr. Green, Mr. Wieland.

A N N U A L REPORT ON CARTER-PENNELL FARMS (19) The Dean of the College of Agriculture submits the annual report of the Carter-Pennell F a r m s covering the farm year, March 1, 1941, to February 28, 1942. This report covers the operations of two farms in Vermilion County held in trust by the Board of Trustees of the University, and the net proceeds are used as a loan fund to aid students. The net income of the two farms for the year was $3,016.67, which is the largest annual net income that the University has received during the nineteen years it has owned and operated the farms. T h e operating account now has a cash balance of $4,665.63. The committee in charge of the operation of the Carter-Pennell F a r m s recommends that $2,000 of the cash balance be transferred to the Student Loan Fund. The remaining balance of $2,665.63 will provide ample reserve for operating expenses and improvements needed at this time.

On motion of Mr. Jensen, these assignments of funds were made as recommended, by the following vote: Aye, Mr. Adams, Mr. Cleary, Mr. Davis, Mr. Fornof, Mrs. Grigsby, Mr. Jensen, Mr. Karraker, Mr. Livingston, Dr. Meyer; no, none; absent, Mr. Green, Mr. Wieland.