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Caption: Board of Trustees Minutes - 1956
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974 BOARD O F TRUSTEES [ M a r c h 23 Student Welfare and Activities MRS. DORIS S. HOLT, Chairman WAYNE A. JOHNSTON MRS. FRANCES B. WATKINS University Retirement System Representatives CUSHMAN B. BISSELL WIRT HERRICK KENNEY E. WILLIAMSON REPORT O F F I N A N C E COMMITTEE M r . Livingston, for the Finance Committee, reported the following changes in investments of trust funds: Purchases Endowment Funds — General General Motors Acceptance Corporation twenty years 3f6 per cent Debentures due September I, 1975 $ 5 087 50 170 shares Allis-Chalmers Manufacturing Co. common stock 11 465 28 Current Funds Exchanges $10,000 U. S. Certificates of Indebtedness, Series E 1% per cent due December "15, 1955, for $10,000 U. S. 2% per cent Certificates of Indebtedness, Series D due December 1, 1956 Dentistry-Medicine-Pharmacy Revenue Bond Fund of /051— Reserve Purchase $2,000 U. S. Treasury 2}^ per cent bonds due August 15, 1963 $ 1 969 05 Report of Comptroller Dentistry-Medicine-Pharmacy Building Revenue Bond Fund — Construction (Purchases authorized by Board of Trustees Resolution dated March 15, 1951, Minutes page 632.) Purchases $40,000 U. S. Treasury Bills due February 23, 1956 $39 798 n 25,000 U. S. Treasury Bills due March 8, 1956 24 876 53 7S,ooo U. S. Treasury Bills due March 22, 1956 74 508 42 20,000 U. S. Treasury Bills due April 5, 1956 19 893 79 20,000 U. S. Treasury Bills due April 9, J1956 19 901 20 20,000 U. S. Treasury Bills due May 3, 950 19 908 75 This report was received for record. EMPLOYMENT O F UNIVERSITY AUDITORS T h e Finance Committee recommends that t h e Board employ the firm of Haskins & Sells, Chicago, to audit t h e University's accounts for the year ending J u n e 30, 1956. T h e fee for these services is based on p e r diem rates a n d expenses, with the understanding that the aggregate charges will not exceed the following a m o u n t s : University of Illinois (all divisions) $15 000 University of Illinois Foundation (including its Retirement System) 900 University of Illinois Athletic Association (including its Retirement System) 1 000 T h e report of Haskins & Sells will be issued jointly to the Board of Trustees a n d to the Auditor of Public Accounts in accordance with the procedure agreed t o last year which proved satisfactory to the Auditor as well as to the Board of Trustees. On motion of M r . Livingston, this recommendation w a s approved.
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