Repository: UIHistories Project: Board of Trustees Minutes - 1954 [PAGE 17]

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BOARD OF TRUSTEES

[July 16

I N T E R N A L OPERATING BUDGET FOR 1 9 5 2 - 1 9 5 3 (18) I present the University's internal operating budget for all divisions and funds for the fiscal year beginning July I, 1952, and for the academic and administrative appointments beginning September I, 1952. This budget has been prepared by the Provost and the Comptroller in accordance with policies approved by the President and in conference with deans, directors, and other administrative officers. I recommend that: 1. This budget, covering the allocation of the University's operating income from all sources for the year beginning July I, 1952, be approved. 2. The President of the University be authorized, in accordance with the needs of the University and the equitable interests involved and within total income, to ( a ) make such changes and adjustments as are needed, (b) make such additional appointments as are necessary, subject to the provisions of the University Statutes, and (c) accept resignations. All such changes will be covered in the Comptroller's quarterly financial reports, or in reports to the Board by its Secretary.

President Stoddard discussed the budget, reviewing various details and the policies which were followed in its preparation. On motion of Mr. Herrick, the budget was approved, the appropriations were made, and authority was granted as requested, by the following vote: Aye, Mr. Fornof, Mr. Grange, Mr. Herrick, Mr. Hickman, Mr. Johnston, Mr. Livingston, Mr. Megran, Mr. Nickell, Mrs. Watkins; no, none; absent, Mrs. Holt, Mr. Stevenson. On motion of Mr. Johnston, seconded by Mr. Grange, the Board commended the President and other University officials who assisted in the preparation of the budget on their excellent work. The complete budget as approved is printed in full in the appendix, page 44.

INTERNAL BUDGET OF THE ATHLETIC ASSOCIATION FOR 1 9 5 2 - 1 9 5 3 (19) The Director of Intercollegiate Athletics submits, on behalf of the Board of Directors of the Athletic Association, the budget of the Association for 19521953 which is summarized as follows with comparative figures for the preceding year: IQ51-1952 1951-1952 Revised 1952-IQ53 Budget Estimates Proposed Income S764 075 $867 400 $820 575 Expenditures Budget Appropriations 746 850 765 800 804 575 Special Appropriations 10 000 17 100 10 000 Total Expenditures $756 850 $782 900 J814 575 Excess of income over expenditures $ 7 225 $ 84 500 $ 6 000 On July I, 1951, the Athletic Association had a net operating surplus of $44,659. The estimated excess of income over expenditures of $84,500 in 1951-1952 will increase this surplus to $129,159 on June 30, 1952. The budget has been examined and approved by the Provost and the Comptroller. Salaries paid jointly by the Athletic Association and the School of Physical Education have been approved by the Director of the School. The budget includes $10,000 to be allocated by the Board of Directors for contingency expenditures, not to exceed $1,000 for any one item. Estimated income exceeds the appropriations by $6,000. I recommend that this budget be approved and that the President of the University be authorized to make such changes and adjustments, including approval of new appointments and acceptances of resignations, as are necessary and recommended by the Board of Directors of the Athletic Association within the total income realized.

On motion of Mr. Grange, these recommendations were approved. At this point, Mr. Herrick withdrew from the meeting.