<pre style="white-space: pre-wrap">xt71jw86hp0z https://exploreuk.uky.edu/dips/xt71jw86hp0z/data/mets.xml Lexington, Kentucky University of Kentucky 19341023 minutes English University of Kentucky Contact the Special Collections Research Center for information regarding rights and use of this collection. Minutes of the University of Kentucky Board of Trustees Minutes of the University of Kentucky Board of Trustees, 1934-10-oct23-ec. text Minutes of the University of Kentucky Board of Trustees, 1934-10-oct23-ec. 1934 2011 true xt71jw86hp0z section xt71jw86hp0z 


    Minutes of the Meeting of the Executive Committee of the
Board of Trustees of the University of Kentucky, October 23, 1934.


     The Executive Committee of the Board of Trustees of the Uni-
versity of Kentucky met in President MicVey's office at the Uni-
versity October 23, 1934, at 10:30 a.m.   The members of the Com-
mittee present were R. G. Gordon, who was chosen as acting chair-
man, Judge Stoll being unavoidably absent, Miller Holland and
J. B. Andrews.   President Frank L. HMcVey and Secretary D. H. Peak
were also present.


     1. Minutes Approved.

     The Minutes of the meeting of the Executive Committee of July
17, 1934, were approved as. published.


     2. Financial Report.

     The financial report for SeTbtenber was filed and ordered to
be recorded in the Minutes.   It reads as follows:


                                                 EXHIBIT "B"'

            Statement of Income and Expenditures
                  Month of September 1934


Previously
Reported


Current
Month


Fiscal
Yea.r
To Date


General Fund Income
Vocational Education Board
  State Appro. - Back Salaries
  State Appro. - Summer School
  Special Agri. Appro.
  State Appro. - General
  Student Fees
  Student Fees - Summer School
  Student Fees - U. H. S.
  Student Fees - El. Tr. School
  Student Fees - Univ. Exten,
  Miscellaneous Receipts
  Rentals
  Men's Dormitories
         Total                2;


  353.32
71,100.00
9,000.00
8,240.48
D2,432.92
  388. 71
39, 457.12


2,080. 8
   764. 61
   417. 10
   5819,63
P24, 819. 17


  1,370.98


  13, 227.96
  87,951.99
    288.62
  3,690.00
  3,130.00
    424.60
  1,043.05
    198.60
  5. 355. 75
116.681.55


  1,724.30
  71,100.00
  9, 000.00
  8,240.48
105,660.88
88,340.70
39,745.74
  3,690.00
  3,130.00
  2,504.88
  1,807.66
    615.70
  5,940.38
341.500.72


9


Expenditures
  Instruction
  Administration, Expense
    and Maintenance
  Additions and Betterments
           Total
  Excess of Income over Ex-
  penditures


83,989.99

60,498.41
  1, 277. 24
145,765. 64

79,053.53


63,951.72


147,941.71


19,496.07    79,994.48
    98. 65    1,375.89
83,546.44   229, 312,08


33, 135 .11


112,188.64


Patterson Mall Income
  Board
  Miscellaneous Receipts
  Room Rent - Summer School
           Total

Expenditures
  Expense
  Excess of Income ovor Ex-
  pend.itures


General Fund Income
General Fund Expenditures


Excess of General lund In-
  come over Expenditures
Accounts Payable - liqui-
  dated                     (
Excess of Receipts over Ex-
  penditures for General
  Ledger accounts
Excess of Receipts over Ex-
  penditures for fiscal year
  to date - General Fund


     10. 20
     22. 50
  1, 303.50
  1,336.20

  1,696. 60

    (360.4pj

226,155.37
147,462.24


78, 693.13

71,100.00)


1,177.77


8,770.90


11,267.34    11,277.54
    42.50        65.00
    11.25     1 314.75
11,321.09    12, 657.29

1,392.22     3,088.82

9,928.87     9,568.47


128,002.64
84,938.66

33,063.98


20,076.89


53,140.87


354,158.01
232,400.90

121,757,11

(71,100.00)


21,254.66


71,911. 77


Excess of Receipts over Ex-
  penditures for the fiscal
  year to date - General Fund
Cash in Bank July 1, 1934 -
  General Fund
Cash in Bank September 30,
  1934 - General Fund


Experiment Station Income
  Hatch-Federal Appro.
  H'lilk & Butter - Cesh Rec.
  Beef Cattle Sales
  Dairy Cattle Sales
  Sheep Sales
  Swine Sales
  Poultry Sales
  Farm Produce Sales


3,750.00
1,592.40
  142.56
  162.25
  61.11
  24.97
  203.00
  151. 26


651-94
94.00
100.00


176.17
125.90


71,911,77

(4,289.95)


67,621.,82


3,750,00
2,244.34
  236.56
  262.25
  61.11
  24.97
  379.17
  277.16


3.


Horticultural Sales
Seed Test
Seed Inspection
Rentals
M1iscellaneous
Fertilizer - Fees
Public Service - State Ap.
Public Service - Misc. Rec.
Feeding Stuffs - Fees
Ada~ms - Federal Appro.
Serum - Sales
Serum - Virus Sales
Serum - Supply Sales
State Appropriation
Crea.-.mery License Fees
Creamery - Testers License
Creamery - Glassware Tested
Robinson - State Appro.
Robinson - Misc. Receipts
'Rest Ky. - State Appro.
.Vest Ky. - Misc. Receipts
Purnell - Federal Appro.
Nursery Inspection - State
  Appro.
Nursery Inspection - Fees
Blood Test


Total


  148.55
  647.80
  2,031. 37
  2,288.34
  1,075.51
  469.75
  3,058. 34

  5,312.15
  3, 750.00
    66.97
    6.00
    12. 25
 9,130.93
 6,006. 55
 1,723. 02
   155. 44
 1, 247, 16
 1,426.54
 1,848.32
 1,506.88
 15,000.00

   150.00
   352. 42
   20.75
63,522. 59


Expenditures
  ExPense                     41,287.02
  Excess of Income over Ex-'
  penditures                 22,235.57
  Excess of Expend. over Re'
  ceints for General Ledger
  Accounts                  (20,194,59)
  Excess of Expenditures over
  Receipts                    2,040.98
  Excess of Expenditures over
  Receipts for the fiscal year
  to date - Experiment Station
  Cash in Bank July 1, 1934 - Ex-
  perin-nt Station
  Cash in Bank September 30, 1934
  - Expe riment Station


    ,7. 25
    101.75
    780.10
    144.67
  (323.87)
  2 , 487.50
  1,914.96
     5.00
 2,108. 25

   106.56
     6.00
     25.00
 1,005. 37
   102.00
   78.00
   24.10
   795.84
   141.13
 1, 731.80


   150.00
   335.00

12,894.42


22,228,35

(9,333.93)


(1, 478. 42)

(10,812. 35)


   175.80
   749. 55
 2,811. 47
 2,433. 01.
   751. 64
 2,957. 25
 4,973. 30
     5.00
 7,420. 40
 3, 750. 00
   173.53
   12.00
   37.25
10, 136.30
6,108. 55
1,801.02
   179. 54
 2,043.00
 1,567.67
 3,580. 12
 1,506.88
 15,000.00

   300.00
   687.42
   20. 75
76,417. 01


63, 515. 5 7

12,901, 64


(21,673.01)

(8,771.37)


(8,771.37)

13,586.85


4,815. 48


Extension Division Income
  Federal Smith-Lever
  Federal Add. Co-op.
  Federal Supplementary
  Federal 0apper-Ketcham
  State Smith-Lever
  County and Other
                Tot al


74,154. 38
I 5 ,00. 00
26,545.52
18,400.419
28,762.29
    81l, 06
164,176.74


         74,154.38
         15,500.00
         26,545.52
         18,400.49
         28, 762.29
124,62      938.68
124.62 164.301.36


4.


Expenditures
  Expense                    62,068.19


Excess of Income over Ex-
penditures


3~~O2. 10. 55C3829          70 24  46 S


  Excess of Income over Expend-
    itures for the fiscal year
    to date - Extension Div.
  Cash in Bank July 1, 1934 -
    Extension Division
  Casb in Bank September 30,
    1934 - Extension Division

Trust Fund Income
Student Loan Fund
Student 1YTotes Paid
          Total Receipts


Expenditures
Expense                   _

Excess of Receipts over Ex-
   penditures                    3

 Excess of Receipts over Ex-
 penditures for the fiscal
 year to date - Trust vund
 Cash in Bank July 1, 1934 -
 Trust Tund
 Cash in Bank September 30, 1934
 - Trust hnd


70,246.46

  (585.04)

69, 61. 42


97, 31
260. 62
357.93


357-93       101.10
                            459. c.


26.40
74. 70
10i, 10l


_57.93_ ,_ s  
                 1 0 1   10~ ~ ~ ~ ~ ~ ~ ~ ~ ~~


123. 7].
335. 32
4 _ _


  459,03

_3,823. 72


4,282,75


Summary
  General Fund Income
  Experiment Station Inc.
  Extension Div. Income
  Trust Fund Income
             Total


226,155.37
63,522. 59
164,176. 74
     97. 31
  45,52. 01


128, 002.64
12,894.42
    124.62
    26. 40
141,048.08


354,158.01
76,417.01
164,301.36
    123, 71
595,000.09


General Fund Expenditures   147,462.24
Experiment Station Expend,   41,287.02
Extension Div. Expend.       62 068.19
             Total          250,817.45


Excess of Income over
   Expend.


84,938.66
22,228.35
31,986.71


i- ~ , 2  3 8=7 . J~


232,400.90
63,515.37
94,054. 90
389-.571.17


203,134.56     1,894.36


31.986. 71


94,054.90


-


, .


.102.108-55


(31.862.09)


70. 246. 46


,57-93


10 10 i


459l rA3


205,028. -2


5.


Accounts Payable - liqui-
  dated

Excess of Expend. over Re-
  ceints for General Ledger
  accounts


Student Loan Fund - Notes


(71,100.00)


(19,016.82)

    260.62


18,598.47

    74. 70


(71,100.00)


   (418.35)


335.32


Excess of Receipts over Expendi-
tures for the fiscal year to
date - Combined Fund        113,278.36

Excess of Receipts over Expendi-
tures for the fiscal year to
date - Combined Fund
Cash in Bank and on hand July 1,
1934   Combined Fund
Cash in Bank and on hand September
30,1934 - Combined Fund


20,567.53 133,845,89


133,845.89

14 ,535. 58

148, 381.47


Abstract of item shoin on statement of In-
come and Expenditures as "Excess of Expendi-
tures over Receipts for General Ledger ac-
counts $418.35".


Accounts Receivable

Insurance Paid in Advance

Sundry Accounts


Debit

2,556.78

  186.47


2,743.25
2, 324,90

  418.35


Credit


2.324.90


2,324.90


     3, Report - State Board of Finance.

     The Business Agent presented the statements of condition of
University accounts as of September 30, 1934, made by State Budget
Officer, EYat B. Sewell. The statements were presented in order
that the members of the Committee may better understand the methoas
of accounting and reports.   The statements were examined and or-
dered returned to the Business Office records.


     4. Investment of Student Loan Fund.

     The investment of Student Loan Fund as reported by the Bus-
iness Agent was approved, the report being as follows:

          Follorng the orders of the Executive Committee at
     meeting of June 30, 1934, I invested, on October 2, 1934,
     $4,162.22 of the Student Loan Fund in a State Warrant.
     The warrant was one issued to the University of Kentucky
     on Agricultural Appropriation, the face value being
     p4,162.22 and one-half per cent premium, $30.98.   The
     investment was made after consultation with President
     MIcVey and 'Dean Jones.

                                (Signed) D. H. Peak
                                          Business Agent
     October 23, 1934.


     5. Sale of State Warrants.

     The sale of State Warrants, dated September 29, 1934, as re-
ported by the Business Agent was approved, the report being as
follows:

                   SALE OF STATE WARRANTS

                     Face      Rq.te    Amount    Interest   Totzal

  Extension Div. 13,995.61  100 3/4  13,995.61    9.72  14,005.33

  Experiment Sta.
  50 M ApDro.    4,646.91  101        4,693.38    2.58   4,695 96

  Agri. Appro.    4,131.24  100 1/2    4,162.22       0   4,162.22

  General Appro. 64,834.64  100       64,834.64  108.06  64,942.70


October 23, 1934


(Signed)   D. H. Peak
           Business Agent


7.


     6. Payment of City of Madisonville Bond - Brent Fund.

     The Business Agent filed the following letter from D. WV. Gat-
lin, treasurer of the City of Madisonville, Kentucky:

     Dear Mr. Peak:

                    We have your letter of the first inst.
    having reference to payment of

                   East Arch Street
                   From intersection of Main to Daves St.
                   St. Improvement Bond, Series H for
                          $500.00
                   Due Aug. 1, 1934.

                   Series G of this bond issue is still out-
     standing and has not been presented for payment since
     Feby. last.   This bond is due to be retired ahead of
     Series H.

                    There is enough money in East Arch Street
     Sinking Fund to retire one bond, not including interest
     since Aug. 1, 1934.   If you will send your bond to this
     bank for collection, and Series G is not presented be4
     fore the arrival of your bond, I will pay your bond to
     the amount of its face value exclusive of interest there-d
     on since Aug, 1, 1934.

                           (Signed) D. W. Gatlin
                                      Treasurer City Madisonville,
                                         Ky.

     He stated that after consultation with President McVey and
W. H. Courtney, President of the First National Bank and Trust
Company of Lexington, Kentucky, he sent the bond for collection
and the face value thereof was Paid and deposited in General Fund
Account in First National Bank and Trust Company.    No interest
was paid, the last coupon thereon dated August 1, 1934, having
been paid.   Another bond for $500.00 will mature August 1, 1935.
The Business Agent further requested advice and direction as to
reinvestment of the fund,

     On motion and second the action of the Business Agent was
approved, and he was authorized to investigate the question of
investment, and by and with the advice and consent of President
McVey make investment, if deemed advisable.


8.


     7. Liberty Bond Call.

     A circular from the Secretary of the United States Treasury
as to "Third-called Fourth 41 8" was presented by the Business
Agent.   It reads in cart as follows:

          All outstanding Fourth Liberty Loan 4 per cent
     bonds of 1933-38 (Fourth 4A's) bearing serial numbers
     the final digit of which is 5, 6, or 7 (such serial
     numbers in the case of permanent coupon bonds being
     prefixed by the corresponding distinguishing letter
     E, F, or G, respectively), are hereby called for re-
     demption on April 15, 1935, on which date interest
     on such bonds called for redemption will cease.

     The bonds held as investment of the Peabody Fund are num'
bers 52484-5-6-7, for $10,000.00 each.   Therefore, it seems that
the last three have been called for redemption April 15, 1935.
Consideration of the questions arising in the matter was deferred
to a later meeting of the Committee.


     8. Sales Tax.

     The Business Agent presented the following notice from the
Auditor of Public Accounts in regard to payment of Sales Tax:


     TO ALL STATE DEPARTMEXTS

     Greetings:
               It is our conclusion that it was not the in-
     tention of the Legislature, in passing the Gross Receipts
     Tax Law at the 1934 Special Session, to impose this tax
     upon commodities purchased by the Commonwealth for the
     use and benefit of its various departments and activities.

              You are therefore informed that we shall not apW'
    prove for payment the sales tax on any articles purchased
    by the Commonwealth in the operation of its many departs
    ments, boards, commissions, etc.

                          (Signed)  J. Dan Talbott
                                    Auditor of Public Accounts


9.


     He stated further that he had referred the question to the
State Tax Commission and the Attorney General.   Their answers
are set forth in following copies of letters:

     Mr. D. H. Peak, Business Agent
     University of Kentucky,
     Lexington, Ky.                    October 9, 1934

     Dear Sir:
              Regardless of the statement issued by the
     Auditor of Public Accounts, to the effect that he
     would not pay any invoices for commodities purchased
     by the Commonwealth or any of its agencies, upon
     which the Gross Receipts Tax is included, it is the
     duty of this Commission to enforce the Gross Receipts
     Tax Law, as passed by the Legislature, and not upon
     an opinion issued by the Auditor of Public Accounts.

              If you will read section 5 of the Law, a
     copy of which is enclosed, it clearly states that the
     tax upon charitable and educational institutions is
     exempt only when these institutions are engaged in
     activities made taxable by the act.   Our construc.-
     tion of this section is that you are exempt from the
     tax upon the sale of articles, etc., and upon amuser~
     ments furnished by your institution where a fee is
     charged, but not upon any purchases which you make.


                              STATE TAX COMKISSION

                        (Signed) Pat Sullivan
                                  Commissioner


                                  October 3, 1934

     Mr. D. H. Peak, Business Agent
     University of Kentucky
     Lexington, Kentucky

     Dear Mr. Peak:

            I have your letter of the 1st enclosing copy
     of a letter from J. Dan Talbott, Auditor of Public
     Accounts, with reference to the collection of expense
     accounts containing items of sales tax.


10.


          This matter is before Judge Ford in the Franklin
     Circuit Court in a suit brought to test, among other
     things, this Particular phase of the sales tax.   We
     are looking for a decision in this case almost any
     day and it will be then taken to the Court of Appeals
     and an opinion had by that court.  Until that time I
     know of nothing that can be Cone in this matter, ex-
     cept to proceed against the Auditor by way of manda'.
     mus and such a. suit would take longer than to get an
     opinion in the case already filed in court.

                           (Signed) B. P. Wootton
                                     Attorney General

     No actionwas taken pending the decision in the case in
question and further advice from the Board of Finance.


     9. Egalite-Wilson Fruit Company Claim,

     Attention was called to the Egalite-Wilson Fruit Company
claim but no action was t aken thereon.


    10. Trust, Revolving and Sundry Ledger Accounts.

    The Business Agent made the following report:

           TRUST, REVOLVING AND MISCELLANEOUS FUNDS

     The University of Kentucky has certain Trust, Revolving
and sundry Ledger accounts reported herein in some detail. They
are presented that the Executive Committee may consider the ac-'
counting of these funds and accounts to date relative to the
application of "The Budget and Financial Control Act of 1934" re-
quiring funds to be covered into the State Treasury.

     Federal Funds.  Orders in regard to such funds were made at
the meetings of the Executive Committee of June 30, 1934; Execu-
tive Committee of July 17, 1934;
      Board of Trustees of September 18, 1934.


      Trust Funds.   These may be considered in two classes:
                    (1) Funds for investment, the income along to
be used for purposes designated by the donor.   The law under con-'
sideration does not contemplate or require that the principal or
any part of such funds invested or held for investment shall be
covered into the State Treasury.


11.


     (2) Funds, the entire amount of which is to be used for the
purposes designated in the grant or establishment of the fund.

     Division (1) may be further subdivided: (a) funds the income
of which is to be used for University purposes and (b) funds the
income of which is to be used for special purposes, student wel-
fare, etc., which are in no wise connected with the maintenance,
operation, or capital outlay of the University.

     The income from funds that is to be used for University pur-
poses (a) should be covered into the State Treasury,    There are
two funds of this nature, the Peabody fund and the Land Grant
fund (although this may be questioned).

     The incomae from fuzels that is to be used for special purposes,
student welfare, etc.  (b) should not be covered into the State
Treasury.   These are in most instances student welfare funds. The
following fundrs are in this class: Waddy fund, Bennett fund,, Crum
fund, Mathematics fund.

     The funds now in division (2) should not be covered into the
State Treasury.   The following funds are in this class: yational
Research fund, Patterson Memorial fund, Scholarships, Student Of-
ficerst Uniforms, J. B. Sax Lecture Fund, K E. R A. student
fund, F. v. R. A. Experiment Station fund, Tennessee Valley Author-
ity.   (The two last named may also be placed under division 8,
"Sundry Ledger Accounts.")

     Sundry Ledger Accounts.   The accounts of some of the funds
named above and of many others are carried in a book known as the
Sundry Funds Ledger.   This ledger is somewhat like the individua].
accounts ledger in a bank, the total balance of all the funds there_
in being carried to the General Ledger.    The object of this ledger
is to st'inplify the handling of accounts of the University that are
not properly operating, maintenance or capital accounts and to care
for the many accounts of organizations and projects for which the
Business Office is asked to act as a. depository.   It is quite prob-
able 1thet all sundry ledger accounts may be considered as not comirg
within the scope of the law in ouestion with the exception of cer-
tain revolving funds.   However, it -may be well to make further
analysis of sundry Ledger accounts, and, for that purpose, those
not already classified are herein set up in divisions numbered from
1 to 8 respectively and are discussed a.s follows:

     1. Student Activities Funds.    The funds in this class are
Class Dies, Gradunte Student accounts, Diploma Fees, Kentuckian,
Kentucky Kernel, Lectures, Y. M. 0. A., Y. W. 0. A., PWornanls Self
Government Associationp Athletic fees and deposits; Grants-in-Aid,
Musical Organizations, P. 0. boxes.    Thene funds were established
for the sole benefit of the students.    The Business Office acts
merely as a depository, the funds being subject to withdrawal on
the order of the organization, or committee in control.     Such fundr
should not be covered into the State Treasury, because of the


12.


exemption of student funds made in the law, and for the further
reason that the University has no control of them except that of
advice and guidance.   Reference is made to the minutes of the
Executive Comnittee of June 30, 1934.
     2. Student Deposits.   Reference is made to the minutes of
the Executive Committee of June 30, 1934.   They come within the
meaning of student funds exempted by the law requiring funds to
be covered into the State Treasury, and are subject to withdrawal
on recuest of the student, conditions allowing withdrawal being
complied swith,

     3. Hisce~laneous Student Activities Funds.   The funds in
this class are:  Auto Perking Permits, Band Uniforms, Interscho-
lastic League, Intramural Sports including golf account, Ments
Dormi tory Special, Community House, Tennis and others of like na-
ture.   These accounts are deposited for safekeeping and are sub-
ject to withdrawal by the depositor without direct University con-
trol, the Business Office acting merely as a depository.    They
should not be covered into the State Treasury.

     4. Faculty and Other Funds.   The funds in this class are: In-
ternational Relations, Group Insurance, Kentucky Cooperative Test-
ing Service, University Club and others.   These are subject to
control of the organizations making the deposits and are without
direct University control, the Business Office acting only as a
depository,   They should not be covered into the State Treasury.

     5. Funds Received and Deposited. for Safekeeping, Awaiting
Withdrawal.   The funds in this class are: Applied Music,.Military
Clothing shortage, Fational Colonial Dames, Book Sales.   These
should not be covered into the State Treasury.

     6, Campus Book Store and Caps and Gowns.    These two account s
should. be considered together as they represent investment accounts
that were formerly considered as one, being separated for convenient
in accounting,   The collections credited to these accounts should
be credited until the investment charge is cleared, and therefore
should not be covered into the State Treasury.

     7. Revolving Funds.   The funds in this class are:   Dairy
Products Revolving, ICeat Laboratory Revolving, Cafeteria Revolving.
As these are in a sense operating funds, they should be covered in-.
to the State Treasury,

     8. Experiment Station Funds.   These funds are Cream Grading,
Poultry Improvement, East Dark Fired Tobacco, West Dark Fired Tow-
bacco, Tennessee Valley Authority, F. E. R. A. (under Public Ser-
vice) and others.   These funds are deposited with the Business
Office for the purpose of meeting the expense of the operation of
projects named by thILe depositor,  They are not Experiment Station
funds in the sense of operation or maintenance, or trust.    They
should not be covered into the State Treasury..


13.


      The entire balance of Sundry Ledger accounts as of June 30,
 1934, be held by the University Treasurer and not covered into the
 State Treasury for the reasons stated above and for the further
 reason that such balances are subject to charges accruing before
 June 30, 1934.

     All collections made on old accounts accruing before June
30, 1934, to College Division should be deposited to Miscellaneous
Sundry Ledger account and held for the discharge of obligations
made prior to June 30, 1934.,"


     On motion and second the report was approved.   The methods
of accounting by the administrative and finance officers of the
University of the funds of the University in general and as shown
in the above report were approved and they were authorized to
continue the present methods of accounting until further orders
of the Board of Trustees.


    11 Collection of Student Loain Debts and Others by American
Credit Bureau.

     President McVey reported that an organization known as "The
American Credit Bureau"t, located at Chicago, Illinois, proposes
to collect indebtedness due the University of Kentucky on basis of
percentage on amount collected.   Dean T. T. Jones, the President
and the Business Agent were named as a. committee to consider fur-
ther the advisability of contracting with the Agency named, and,
if deemed advisable, to act in regard thereto for the collection
of such Student Loan Fund indebtedness and other student obliga-
ti.ons, Snaking report to the Executive Committee.  Consideration
of Memorial Building pledges and Greater Kentucky Fund pledges
was deferred.


     12, Audit of University Accounts.

     The question of an audit of University accounts, by an audit-
ing firm selected by the Board of Trustees, that has been deferred
from recent meetings of the Board of Trustees and the Executive
Committee was again brought up.   The members of the Committee
considered it not only desirable but also necessary that the system
of auditing of University accounts that has been in practice dur-
ing the adminirtration of President McVey be continued without in-
terruption,  On motion and second the following resolution was
passed:  "The Executive Committee, recognizing that under the op-
era,.ion of the new finance laws of the State the finance officers
are required to make a careful and thorough audit of University
accounts, and further recognizing that such is being done at pres-
ent to the entire satisfaction of the Board of Trustees, neverthe-
less, it appears from all precedents in University accounting in
the various state universities that an audit by accountants in no
way connected with State or University affairs has been found not
only desirable but necessary; therefore, be it resolved that the
firm of Peat, Marwick, Mitchell and Company of Chicago be employed
to niekc an audit of the accounts of the University of Kentucky for


14.


the fiscal year ending June 30, 1934.   The Business Agent is di-
rected to draw a requisition on the Auditor of Public Accounts
for the employment of the said auditing firm, the compensation to
be $600.00.

     13. Report of Grants in Aid.

     President McVey suggested that a report of the Grants in Aid
project will be ready at such time as the Executive Committee sees
fit to conside. it.   The matter was deferred to next meeting of
the Executive Committee.

     14. Janitorst Wages.

     On motion and second it was ordered that the weekly wages of
the following named janitors be increased from $12.00 to `F13.00
beginning October 22, 1934:

               Pere Whiting
               Tom West
               Charlie Turner
               John Alcorn
               Turner Hamilton
               Alfred Holmes
               Henry Smalley
               Wilson Tweedy
               Morris Steele
               Jim Arnold
               Silas Dunson
               William Baker
               James Spencer
               Charlie White
               Farmer Manley
               A. C. Childers
               Raymond Johnson
               Clay McClelland
               Austin Thompson
               Charlie Walker
               Elgan Hurt
               ITeach Eubanks

     This order was made in view of the fact that these wages had
been reduced in 1932 to present basis, and that the amount is not
adequate to increased cost of living.

     15., Dr. Curran Pope Estate.

     President MoVey presented correspondence with Mr. R. G. Gor-
don, member of the Executive Committee, who was asked to investi-
gate the will of Dr. Curran Pope, of Louisville, in so far as it


15.


relates to gifts to the University of Kentucky.  Mr. Gordon stated
that he had consulted Mr. Morton Boyd, President of the United
States Trust Company, and further stated that:

          If it should appear that there are funds available
     for the purpose set forth in the will, Mr. Boyd assures
     me that he will be more than glad to have Us meet with
     him and discuss the matter of constructing a building at
     the University of Kentucky.


     16, Equipment for Observatory.

     President McVey presented the following request of Professor
H. H. Downing, relating to needs of eauipment for the Observatory:

          I would like to be allowed to purchase for the Oba.
     servatory the several articles listed below.   They are
     listed in the order of desirability.   The work which
     I plan to do will reouire these instruments.

     1. Two inch transit instrument. Made by
         William Gaertner & Co., Chicago       About $1,050.00

     2. Sidereal Clock. Made by E. Howard
         Clock Company                         About     700.00

     3. Solar Eye-piece. Made by Lohman
         Brothers, Greenville, Ohio            About      20.00

     4. Radio                                  About      50.00

     5. Driving Clock, J. W. Feckner quotes
         $340.00 for clock and $45.00 to q-50.00
         for some mechanical work in connection
         with telescope                        About     400.00

     6, Chronograph. Gaettner quotes $460.00   About    500.00
         for chronograph and $25.00 for stand.

     7. Sextant. This may be purchased from
         Gaertner or from the Eastern Science
         Supply Company, Boston, Mass..         About     60.03,

    The above totals nearly $2,800.00.


    The request was ordered inserted in the Minutes and action
thereon was deferred, it being suggested that it be considered as
soon as it becomes apparent that funds may be available for pur-
chase of the equipment,


16.


    17. Radio Extension.

    It was proposed that the radio studios be removed to the base-
ment of the Memorial Building.   President 1cVey stated that the
cost of preparation of the rooms, equipment, etc., will approximate
$7,000.00.  He further stated that the proposed location of the
studios seems desirable, 'out that there may be obstacles other
than amount of cost.   The question was continued in order that
a detailed report of construction, location and costs may be pre-
pared and presented.

     18. Central Heating Plant.

     President McVey presented a report of Superintendent Crutcher
as to cost and advisability of a central heating plant.   zr.
Crutcher recommended that a competent engineer be employed to
study the problem and design a plant.   President MoVey was author-
ized to make inquiries as to an available competent engineer to
study the problcon, and to report to the Committee.

     19.  Bath Rooms in Patterson Hall.

     President coVey presented the following statement of the Sup-
erintendent of Buildings and Grounds:

         A close estimate of the total cost for rebuilding the
     three bath rooms in south wing of Patterson Hall will
     amount to approximately $8420.00.   This would include
     such thingw as vitrified fixtures, built in bath tubs,
     tile walls and floors wit</pre>