Repository: UIHistories Project: Board of Trustees Minutes - 1948 [PAGE 378]

EXTRACTED TEXT FROM PAGE:

1947]

UNIVERSITY OF ILLINOIS

377

Leases executed under general regulations of the Board:

With Whom Arthur Cutts Willard J. D. Landin Property 1203 West Nevada Street 2nd floor 1003 West Nevada Street Amount to be paid to the University /150 a month 50 a month Date April 24, 1947 April 12, 1947

T h i s report w a s received for record. QUARTERLY REPORT OF THE COMPTROLLER (21) The Comptroller presents his quarterly report to the Board as of March 31, 1947. Copies of this report have been sent to all members of the Board in advance of this meeting. T h i s report w a s received for record. EMERGENCY LOAN FUNDS (22) The Finance Committee has authorized the Comptroller, as an emergency measure, to transfer from long-term loan funds to emergency loan funds any balances necessary to provide for the demand for emergency loans. Such authorization permits the transfer of any student loan funds, except those in which the deed of gift prohibits such action, and makes available approximately $150,000 for such purposes if there is sufficient demand for such amount. On September 30, 1936, the Board authorized the transfer of $10,000 from long-term loan funds which, together with several small loan funds given specifically for emergency purposes, has until recently been adequate. Due to the delays experienced by veterans in receiving subsistence checks from the Veterans Administration, at times the demand for the emergency loan service maintained in the Bursar's Office becomes unusually heavy. Experience shows that such loans are almost without exception paid promptly when the subsistence checks are received, within 60 to 90 days after the loan is made. The demand for long-term loans is at present negligible, and approximately only 12 per cent of the funds administered at Urbana are lent to students, the balance being invested in government bonds or carried as cash. Confirmation of this action is requested. O n m o t i o n of M r . M c L a u g h l i n , t h e a c t i o n of t h e F i n a n c e C o m m i t t e e in t r a n s f e r r i n g t h e s e f u n d s w a s a p p r o v e d a n d c o n f i r m e d . CONTRACT FOR CONSTRUCTION OF SUB-STRUCTURE OF POWER PLANT ADDITION (23) The following bids have been received on the sub-structure of the Power Plant Addition: Kuhne-Simmons Company, $56,825; John Felmley Company, $61,600. Both are firm bids, and the contractors state that they can start work 10 days after the award of the contract and complete the work in 15 weeks. Funds are available for this work. The Director of the Physical Plant Department recommends the award of the contract to the Kuhne-Simmons Company in the amount of $56,825. I concur and request that the Comptroller and Secretary of the Board be authorized to execute such a contract. O n m o t i o n of M r . W i l l i a m s o n , t h i s a w a r d w a s a u t h o r i z e d a n d a u t h o r i t y given as r e c o m m e n d e d . SPECIAL APPROPRIATIONS FOR NONRECURRING EXPENDITURES (24) The Committee on Special Appropriations and Nonrecurring Expenditures recommends assignments from the General Reserve Fund to the Chicago Professional Colleges for the following purposes: Building for storing and sorting linens $ 6 200 Replacement of outworn X-Ray therapy unit 9 500 Patient history indexing — soundex guides 1 415 Reconversion of radium bomb 8 000 Hospital furniture and equipment 10 000 Total $35 115 I concur.