Repository: UIHistories Project: Board of Trustees Minutes - 1954 [PAGE 388]

EXTRACTED TEXT FROM PAGE:

1952]

UNIVERSITY OF ILLINOIS

385

QUARTERLY REPORT OF THE COMPTROLLER (25) The Comptroller presents his quarterly report to the Board as of June 30, 1952.

This report was received for record.

REPORT OF THE FINANCE COMMITTEE ON T H E SALE OF SECURITIES

Mr. Fornof, for the Finance Committee, offered the resolution:

following

WHEREAS, the Board of Trustees of the University of Illinois is the owner of the following described common stocks: p ^ pgr ^ Marke( (Approximate Prices, September 19, 1952) 206 shs. B. F. Goodrich Co 66 300 shs. Procter & Gamble 64>£ 15 shs. Merck & Co 25 6 shs. Minnesota Mining & Manufacturing 41 8 shs. Standard Oil Co. of California 55K 100 shs. Union Carbide & Carbon 64 400 shs. Abbott Laboratories 45 100 shs. Phillips Petroleum 56^ 117 shs. Standard Oil Co. of New Jersey 76 20/40 shs. Dow Chemical 118 30/100 shs. Eastman Kodak 44 WHEREAS, it has been determined that it is advantageous to dispose of these stocks, Now, Therefore, Be It Resolved that said stocks be sold and that Lloyd Morey, Comptroller, and A. J. Janata, Secretary, be authorized to execute all documents necessary to complete such sale.

This resolution was adopted.

REPORT OF THE COMMITTEES ON NONACADEMIC PERSONNEL AND GENERAL POLICY ON THE AMENDMENT OF POLICY AND RULES RELATING TO COMPENSATION AND WORKING CONDITIONS OF NONACADEMIC EMPLOYEES Messrs. Grange and Johnston presented the following report: The Merit Board of the University Civil Service System of Illinois has proposed changes in employee benefit policies involving amendments of the University's Policy and Rules Relating to Compensation and Working Conditions of Nonacademic Employees, in five areas. At its meeting on June 19, 1952, the Board of Trustees approved amendments of policy on Work Week, Overtime Pay, and Disability Leave with Full Pay. The other two proposals Legal Holidays and Vacations with Full Pay were referred to the Committees on Nonacademic Personnel and General Policy for consideration and report to the Board. Your Committees have considered these proposed changes and recommend to the Board of Trustees as follows: Approval of the recommendation concerning Legal Holidays, this being Section I of the "Proposed Policy" reading as follows: (This is simply a rewording of present University policy). I. Legal Holidays A. Offices, laboratories, and shops will be closed and all employees in the System excused, except in emergency and for necessary operation, on the following holidays: New Year's Day, Memorial Day, Fourth of July, Labor Day, Thanksgiving Day, and Christmas Day. 1. Employees in prevailing rate groups will be compensated in accordance with local prevailing practice. a. If in any prevailing rate classification holidays in addition to those listed above are recognized in local prevailing practice, these holidays shall be recognized in relation to employees in these classifications in accordance with the conditions herein provided.