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


     The Executive Committee of the Board of Trustees of the Uni-
versity of Kentuc'k;y met in the President's Office at 10:00 a.m.,
Saturdays  November 22, 1941.   The following members were present:
Judge Richard C. Stoll, James Park, H. S. Cleveland and Dr. Lee
Kirkpatrick.   President H. L. Donovan, Comptroller Frank D. Peter-
son, Dean James H. Graham and Secretary W. Gayle Starnes were also
present.


     A. Approval of Minutes.
                      ** * * * * * * * *

         1. The minutes of the meeting of the Executive
            Committee of November 11 were examined, and
            on motion, duly seconded and passed, were
            approved.
                      * * * * * * * it* **


     B. Comptroller's Quarterly R;fort.

     President Donovan presented the following report submitted by
Comptroller Frank D. Peterson:


                                   November 19, 1941


     President H. L. Donovan
     University of Kentucky

     Dear President Donovan:

                I submit herewith a Quarterly Report of the
     financial operations as revealed by the records in the
     Office of the Comptroller.


                             INCOME

               The realized income for July, August, and Sep-
     tember, 1941, for (1) University operating funds; (2)
     Experiment Station funds; and (3) Agricultural Extension
     funds is shown in detail.   The realized income from
     State appropriations for the University operating funds
     is received by allotments made by the Director of the
     State Budget and represents slightly more than one-fourth
     of the appropriation for the current fiscal year.