Repository: UIHistories Project: Board of Trustees Minutes - 1958 [PAGE 368]

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1957]

UNIVERSITY OF ILLINOIS

365

DEPARTMENT OF FINANCE IN THE COLLEGE OF COMMERCE A N D BUSINESS ADMINISTRATION (9) T h e Dean of the College of Commerce and Business Administration recommends the establishment of a new Department of Finance within the College by the transfer of faculty and courses from the Department of Economics on the following basis: 1. T h e Department of Finance will include the courses and programs in business finance, investments, money and banking, insurance, and urban land economics and real estate. 2. T h e Head of the Department of Finance will be approved by the President upon recommendation of the Dean after the latter's consultation with the members of the faculty of the Department of Finance. 3. Courses transferred to the Department of Finance will carry the same course numbers they now have but will be labeled finance rather than economics. 4. The Bailey Chair of Banking and Finance will be included in the Department of Finance. 5. The particular courses to be transferred will be determined by normal procedures beginning with the advice of the Courses and Curricula Committee of the College. This recommendation has been made after due consultation with the Executive Committee and the Courses and Curricula Committee of the College, with the Executive Committee of the Department of Economics, and with the VicePresident and Provost. In support of his recommendation, the Dean states that: 1. The proposal is educationally sound and administratively good. 2. The establishment of a Department of Finance will strengthen the work in the areas included in the new department. 3. T h e establishment of the new department will to some extent simplify the structure of the Department of Economics and contribute to better administration and better programming in that Department. 4. T h e establishment of the new department will make for better administration in the College and will strengthen the College by adding to the stature of the finance area. 5. T h e new organizational structure is consistent with accepted organization of many leading schools of business. I concur in this recommendation. T h e new department will be set up in the budget for 1957-58.

On motion of Mr. Swain, this recommendation was approved.

SPECIAL APPROPRIATIONS FOR N O N R E C U R R I N G EXPENDITURES (10) T h e Committee on Nonrecurring Appropriations recommends assignments of funds from the General Reserve as follows: 1. College of Agriculture, Department of Dairy Science, razing two silos and building two new silos on University dairy farm $ 5 OOO 2. College of Agriculture, water supply equipment and its installation at the Dixon Springs Experiment Station 13 840 3. School of Journalism and Communications, equipment for the Office of Broadcasting 7 400 4. College of Liberal A r t s and Sciences, remodeling and equipment in the English Building 3 270 5. College of Liberal A r t s and Sciences, improvements in laboratories in Natural History Building 8 650 6. Research and Educational Hospitals, installation of intercommunication system 10 380 Total $48 540 I concur.

On motion of Mr. Nickell, these appropriations were made by the following vote: Aye, Mr. Bissell, Mr. Herrick, Mrs. Holt, Mr. Hughes, Mr. Livingston, Mr. Nickell, Mr. Swain, Mrs. Watkins; no, none; absent, Mr. Johnston, Mr. Stratton, Mr. Williamson.