Repository: UIHistories Project: Board of Trustees Minutes - 1974 Version B [PAGE 328]

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BOARD OF TRUSTEES

[July 18

April 18, 1973, authorizing the Institute of Aviation to collect regularly a fee of one dollar per boarding passenger on all flights departing from Willard Airport, requiring FAA airport security measures.

AWARD OF CERTIFIED PUBLIC ACCOUNTANT CERTIFICATES

(2) The Committee on Accountancy recommends that the certificate of Certified Public Accountant be awarded, under Section 5 of the Illinois Accountancy Act of 1943, as amended, to five candidates who have presented evidence that they are holders of valid and unrevoked Certified Public Accountant certificates obtained by passing a standard written examination in another state or territory of the United States and who qualify in all other respects under this provision of the law. The names of the candidates are filed with the Secretary. I concur. O n motion of M r . Forsyth, these certificates w e r e awarded.

AMENDMENTS OF REGULATIONS GOVERNING THE CERTIFICATE OF CERTIFIED PUBLIC ACCOUNTANT

(3) The University Committee on Accountancy has recommended changes in Rules 1 and 16(b) of the University's regulations for administering the Illinois Public Accounting Act. The changes are as follows (new language is underscored and language to be deleted is lined through) : Rule 1. Appointment to the University Committee on Accountancy The administrative functions of the University of Illinois under the Accountancy Act of 1943 as amended shall be performed by a Committee on Accountancy appointed by and responsible to the President of the University. The Committee shall consist of the Dircctor of Admissions and Records at the Urbana Champaign Campus or his deputy; two members of the University staff at the Urbana1 Champaign Campus, and one member of the University staff at the Chicago Cirele Campus; to be appointed by the President. (It is flie position of the Committee that there should be flexibility in the determination of the composition of the Committee membership and that this should be left to the discretion of the President of the University.) Rule 16(b). Condition Candidates (Change relates to final sentence of the subsection.) The fee for each reexamination shall be as follows: For the candidate who is required to write three one-half day sessions $70.00 $60.00 For the candidate who is required to write two one-half day sessions $65.00 $50.00 For the candidate who is required to write one-half day session $60.00 $40.00 (By reason of constantly increasing costs, the Committee on Accountancy operated at a deficit during the fiscal years ending June 30, 1968, through June 30, 1971. In 1971, the legislature amended the Public Accounting Act to permit the University to increase the fees for taking the C.P.A. examination. An increased fee schedule which was approved by the University Board of Trustees in July 1971 did not become effective until the May 1972 examination due to the Phase I price freeze. (As of June 30, 1973, with the increased fee schedule and the substantial increase in the number of candidates writing the examination, the deficit in the Committee account will have been fully recouped and there will be a substantial balance. In view of this improvement in financial position, the Committee on Accountancy recommends a revision of Rule 16(b) of_ the University regulations to reflect a reduction in the fees charged condition candidates.) The above decreases would become effective beginning with the November 1973 examination. I recommend approval. O n motion of Mr. Forsyth, these recommendations were approved.