<pre style="white-space: pre-wrap">xt744j09w97w https://exploreuk.uky.edu/dips/xt744j09w97w/data/mets.xml Lexington, Kentucky University of Kentucky 19540721 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, 1954-07-sep21. text Minutes of the University of Kentucky Board of Trustees, 1954-07-sep21. 1954 2011 true xt744j09w97w section xt744j09w97w 


Irregularities


       Minutes of the Meeting of the Board of Trustees of the University of
Kentucky, September 21, 1954.


       The Board of Trustees of the University of Kentucky met in the Pres-
ident' s Office at 10:30 a m. , CST, with the following members present: Guy
A. Huguelet, Vice Chairman; Mrs. Paul G. Blazer, Carl Dempewolfe, Hern-
don J. Evans, J. Co Everett, Paul M. Basham, Ben S. Adams, R. P. Hobson,
M. W. Moore, Wendell P. Butler, Smith D. Broadbent, and Harper Gatton.
Absent: Governor Lawrence W. Wetherby, Thomas A. Ballantine, and Dr.
Ralph J. Angelucci. President H. L. Donovan and Secretary Frank D. Peter-
son were also present.


      A. Approval of Minutes.

      On motion duly made, seconded and carried, the minutes of the Board
of Trustees of June 1, 1954, and the minutes of the Executive Committee of
July 16, 1954, were approved as published.


      B. Report of the Comptroller.

      The Comptroller made the following financial report:


UNIVERSITY %          OF KENTUCKY


             LEXINGTON


September 21, 1954


Dr. H. L. Donovan, President
University of Kentucky
Lexington, Kentucky


My dear Doctor Donovan:

I submit herewith a balance sheet of University funds as of August 31, 1954,
together with statements covering University fund transactions for the two
mnonth period beginning July 1, 1954, and ended August 31, 1954.

The income received during the period for general fund purposes amounted
to $2, 641, 128. 39, or 32.61% of the budget estimate of $8, 101, 394. 95. The
sources of income received are as follows:


General Fund


State Appro.
Fed. Grants
Agency Rec.


Division of
Amount
Received


$1, 000, 000
    84, 965
    87, 329


Colle e s
%/ o f
Budg. Est.

28. 69%
64. 63%
10. 36%6


Agr. Exp. Station
Amount     U/o of
Received Budg. Est.


$224, 300
180, 554
145, 689


38. 65%
34. 45%
32. 38%


Agr. Extension
Amount   70 of
Received Budg. Es,

$215, 700  31. 67%
702, 589  49. 97%


Totals   $1, 172, 294  26. 28%


$550, 543


35.42%  $918,289


The current fund expenditures and encumbrances for the period totaled $1, 300, 673.45,
which is 15. 18% of the departmental appropriations amounting to $8, 567, 597. 31. The
appropriations by divisions are as follows:


Division:


Colleges
Agricultural Exp. Station
Agricultural Extension


Budget
Estimate

$4,981,297
1, 499, 260
2, 087, 039


Expenditures
to Date

$792, 615
209, 442
298, 615


  % of
Budget Estimate

  15.91%
  1 3a 97%
  14, 3 0%


The appraised value of the University plant and the net investment therein is
indicated by the following statement:


44. 00%


Fixed Assets

Land
Buildings
Equipment
Construction in Progress


            Total
Less -
Revenue Bonds Outstanding
Due to the Federal Government


$3,495,460.00
   72Z, 000. 00


$ 1, 160, 350, 18
24, 263, 671. 00
  7, 898, 884. 00
  1,577,080. 19

$34, 899,985. 37


  4,217,460.00


Net Investment in Plant


The schedule below shows bonds outstanding at June
and principal due during the fiscal year 1954-55:


        $30, 682, 525. 37

30, 1954, with interest


Bond Issue
1 st P. W. A. Refunding Issue
2nd P. W. A. R ef unding Is s ue
Dormitory Rev. Issue
Coliseum Rev. Issue
Lib. & Service Bldg. Issue
Stadium Addition
Dormitory Issue (456 Rose)
Journalism Bldg. Rev. Issue
Dormitory Issue (476 Rose)
Dormitory Rev. Issue of 1952
Dormitory Rev. Issue of 1953
   Totals
             Totals


  Bonds
Outstand'n
$ 274, 000
    196, 000
    357, 000
    665, 000
    390, 000
    225, 000
    67, 500
    181, 000
    70, 000
    400, 000
    710, 000

$3, 535. 500


Principal
  Due
$ 32, 000
  10, 000
  14, 000
  40, 000
  25, 000
  15, 000
  2, 500
  11, 000
  2, 000
  20, 000
  15, 000


Interest
Due
$  4, 795. 00
   5) 80 5. 00
   7, 045. 00
   17, 737. 50
   11, 885. 00
   6, 862. 50
   1, 89 0. 63
   4, 849. 25
   2, 037. 50
   27, 090. 00
   24, 022. 50


$186, 500   $114, 019. 88


The value of inventories as of June 30, 1954 was $265,
made up from the inventories as listed below:


Inventory

Campus Book Store
Caps and Gowns
Store s
Work in Progress
             Totals


817.41. This amount was


Division of Colleges

$ 34,924.93
    4,664.65
    147, 986. 00
    78, 241. 83
 $265,817.41


Sincerely yours,


Frank D. Peterson
Comptroller


University of Kentucky
  BALANCE SHEET
As of August 31, 1954


      ASSETS


Agricultural
Experiment
Station


Agricultural
Extension
Division


Current Funds:
General
Cash in Bank
Petty Cash Advs.
State Allotments-
   Current Year
   Prior Year
 Revolving Funds
 Receivables
 Inventories
 Deferred Chgs.
 Unreal. Income

       Total General

 Re stricted:
 Cash inank
 Petty Cash Advs.
 Due from Other Funds
 Investments

       Total Restricted
       Total Current

Plant Funds:
Urexpend:

Revolv. Funds
Due from Other Govt.
   Units
 Due from Other Funds
 Unreal. Income

       Total Unexpended

Investment in Plant:
Construction Autho'rized
Fixed Assets
      Total -Invested
      Total-Plant


Other Funds:
Ciasi in Bank
Notes Receiv.
Inve stments
      Total Other Funds
      Total Assets


$   142, 169. 39
     93,975. 94

     518,550. 10

     589, 307. 25
     47, 2 13. 52
     265, 817. 41
     76,212. 20


$ 200,502.71


   116, 338. 62
   11,830.69
   39 3, 252. 8 1


$ 556,679.67


    70, 268. 88


$   899, 351. 77
     93, 975. 94

     705, 15 7. 6 0
     11, 830. 69
     982,560.06
     47, 213. 52
     265, 817. 41
     76, 212. 20


  3,626,271.61   1,003,851.55    1, 168, 749. 77  5,798,872r93

$ 5,359,517.42 $1,725,776.38    $1,795,698.32  $ 8,880,992. 12


$   832,542. 22 $  163,307.53   $  108, 134. 20  $ 1, 103,983.95
      4,061. 69      1,000.00        4,697. 10        9, 758. 79
      30, 000. 00                                     30, 000. 00
    800, 327. 27    15, 000.00       14,948. 00     830, 275. 27

$ 1,666,931. 18 $  179,307.53   $  127,779.30  $ 1,974,018.01
$ 7,026,448. 60 $1,905, 083.91  $1,923,477.62 $10, 855, 010 -13


$   168, 164. 59 $               $              $    168, 164. 59
    453, 051. 77   104, 147.80                      557, 199. 57

    769,240. 50                                     769, 240. 50
    83,774. '75                                     83, 774. 75
    101,942. 29                                     101,942.29

$ 1,576, 173.90 $  104, 147.80   $              $ 1,680,321. 70


$ 1,577,080. 19 $                $              $ 1,577,080. 19
30,273,614.87   3,049,290.31                    33,322,905.18
$31,850, 695.06 $3,049,290.31    $              $34,899,985.37
3, 2 6, 8-. . -  153, 43. . 1- 1 $                 $3 3 6,5 8 0,37*.07

      Loan        Endowment        Agency

$    11,878.97 $     3,991.08    $   43,417.89  $     59,287.94
     16,429.85                                       16,429.85
     75,500. 00   200,714 48         15,000.00      291,214.48
$   103,808.82 $ 204,705.56      $   58,417.89  $    366,932.27
                                                $47, 802,49. 47


Division
  of
Colleges


Total


University of Kentucky
  BALANCE SHEET
As of August 31, 1954


    LIABILITIES


Ag ric ultural
Experiment
Station


Agricultural
Exteision
  Divi sion


Current Funds:
General:
Petty Cash Liability
Res. for Encumbrances:
   Current Year
   Prior Year
 Res. for Inventories
 Other Liabilities
 Unapprop. Surplus
 Approp. Bals.

       Total

Restricted:
Outstanding Checks
Restr. Bals.

      Total Restr.
      Total Current

Plant Funds:
Uinexpendee:
Res. for Encumbrances
  Current Year
  Prior Year
  Approp. Bals.

      Total Unexpended

Investment in Plant:
Due to Othier Govt. Units
Bonds Payable
Net Invested

      Total Invest.
      Total Plant

Other Funds:
BME. as to Principal
Bal. as to Income

      Total Other Funds


Total Liabilities


$    80, 000. 00 $


19 2, 614. 84
117,335. 65
265, 817. 41
76, 212. 20
438, 855. 60


34, 035. 20
36, 697. 59


365, 225. 8 1


$


$    80, 000. 00


7, 273. 9 6


226, 650. 04
161, 307.20
265, 817, 41
76, 212, 20
804, 081.41


  4,188,681.72  1,289,817.78    1,788,424.36    7, 266, 923, 86

$ 5,359,517.42 $1,725,776.38   $1,795,698.32 $ 8,880,992, 12


$     6,432.52 $                $              $     6, 432.52
  1,660,498.66    179,307.53       127,779.30    1,967,585.49

$ 1,666,931.18 $  179,307.53   $  127,779.30  $ 1,974,018.01
$ 7,065,028.49 $1,905,083.91    $1,923,477.62  $10, 855, 010. 13


$              $    16,061.00   $              $    16,061.00
  1, 127, 855. 74  11,500.00                     1, 139, 355. 74
    448,318. 16    76, 586. 80                     524, 904. 96

$ 1, 576, 173. 90 $104,147.80   $              $ 1,680,321.70


$   722, 000. 00 $              $              $   722, 000. 00
  3,495,460. 00                                  3,495,460. 00
  Z7, 633, 235. 063, 049,290.31                  30,682,525.37

$31,850,695.06 $3,049,Z90.31    $              $34,899,985.37
$33,426,868.96 $3, 153,_438. 11                $36,58037077

     Loan          Endowment        Agency
$   TT, 3-56. 01 $2'WI71TF1T4   $              $   274,972.65
     30,452.81      3,088.92        58,417.89       91,959.62

$   103,808.82    204,705.56    $   58,417.89  $   366,93Z.27

                                               $47, 802, 249. 47


Division
of
Colleges


Total


3


        University of Kentucky
 STATEMNT OF UNREALIZED INCOME
For the Current Fiscal Period which began
July 1, 1954 and ended August 31, 1954

             General Fund


Budget
E s timate


~ivision of Coleges:
ducatioon and General:
   State Appropriations
   Federal Grants (through the
     State)
  Student Fees
  Endowment Income
  Sales and Services and Rentals

       Subtotal


  Auxiliary Enterprises


       Total-Colleges


Agricultural Experiment Station:
State Appropriations
Federal Grants (direct)
Sales and Services

       Total-Experiment Station

Agricultural Extension Division:
State Appropriations
Federal Grants (direct)

       Total-Agricultural Extension

       Total - General


Plant Fund:
Debit Service Income

      Total -Plant

      Combined Total


$3,485,850.00


13 1, 465. 60
808, 000. 00
9,644. 50
25, 000. 00


Realized
to Date


$1,000,000.00


84, 965. 60
76, 502. 59
9, 200. 00
1, 626. 67


Unrealized
Balance


$2, 485, 850. 00


46, 500. 00
731, 49 7. 41
   444. 50
23, 373. 33


$4,459,960.10    $1, 172, 294. 86  $3,287,665.24
                        26. 28%

$  367,538.00     $   28, 931.63  $  338,606.37
                         7. -  87%o

$4, 827, 498.10  $1,201,226.49   $3,626,271.61
                        24. 88%


$  580, 300.00   $  224,300.00   $  356,000. 00
   524,095.30        180,553.83      343,541.47
   450,000.00        145,689.92      304,310.08

$1, 554, 395.30  $  550, 543.75   1,003,851.55
                        35. 42o

$  681, 050.00   $  215,700.00   $ 465, 350. 00
1,405,989.55        702,589.78      703, 399. 77

$2, 087, 039.55  $  918,289.78   $1, 168,749.77
                        44. 00%7
$8, 468,932.95   $2, 670, 060.02  $5, 798,872.93
                        31. 537


$  170, 106. 88   $   68,164.59   $   101,942.Z9
                        46, 077
$  170,106.88     $   68,164.59   $   101,942.29
                        -v -.0U 77O
$8 639, 039. 83  $2,738,224.61   $5,90 0,815. 22
                        31. 70t%


4


              University of Kentucky
STATEMENT OF DEPAR TMENTAL APPROPRIATIONS
     For the Current Fiscal Period which began
     July 1, 1954, and ended August 31, 1954


Dept.
Approp.


Expendi -
ture s


Enc um -
brances


Approp.
Balance


Division of Colleges
  Adm. & General:
  Gen. Adm. Offices
  Student Services
  Staff Welfare
  Gen. Inst. Serv.

      Subtotal


Instr. & Research:
College of - -
Agr. & Home Ec.
Arts & Sciences
Commerce
Education
Engineering
Law
Pharmacy
Graduate School
Org. Act. Rel. Edu.
R esearch
Libraries
Adult & Ext. Edu.

      Subtotal


Other Expenses:
Operation &i Main. P1.
Auxiliary Enterprises
Working Capital
Clearing Accts.

      Subtotal


      Total - College


$   90,126.00
   196, 097.75
   65, 000. 00
   99, 532. 85


$


14,985. 51
27, 557. 91
7, 341. 79
6, 846. 84


$    1,,362.49
    5, 855. 64

    3, 364.61


$   73, 778. 00
   162, 684. 20
   57, 658. 21
   89,321.40


$ 450, 756.60 $   56, 732. 05   $   10, 582. 74  $ 383. 441. 81
                           14. 9376


$  269, 553.95 $  36, 202. 77   $     590. 53  $ 232, 760. 65
1,411, 165.60   200,659.25         10, 244. 52  1,200,261.83
   191,911h00     30,754.37            613.00      160,543.63
   339,304.50     44,488.56          4,030.08      290,785.86
   364,211.99     52,859.65           1,369.03     309,983.31
   84,973.00     11,719. 16           592.75       72,661.09
   74,827.91      5,875.68          2,043.02       66,909.21
   11,575.00      2,198.51             84.65        9,291.84
   26, 541.00     3,491. 38            Z21.95      22,827.67
   20, 000.00       871. 73           996.99       18, 131.28
   238,435.98     37,472.76          2,812. 15     198,151.07
   141, 873. 08   14 251.67          1, 507. 60    126, 113. 81

$3, 174,373.01 $ 440,845.49     $   25, 106. 27  $2, 708.421. 25
                           14. 68%o


$ 940,795.00 $    82,920. 70    $   90, 727. 28  $  767, 147. 02
   340,373.00     30,850.34         21, 120. 16     288, 402.50
   75, 000, 00   12, 071. 57*      44, 792. 64     42,278.93
                     724.04            Z85. 75       1, 009. 79*

$1, 356, 168. 00 $  102,423. 51  $ 156,925. 83  $1,096,818.66
                           19. 12%

$4,981,297.61 $  600,001.05     $  192,614.84  $4,188,681.72
                           15. 9 1%


*Negative Number.


5


              University of Kentucky
STATEMENT OF DEPARTMENTAL APPROPRIATIONS
     For the Current Fiscal Period which began
     July 1, 1954 and ended August 31, 1954


                  General Fund


Depart.
Approp.


Expendi-
tures,


Encum -
brances


Approp.
Balances


Agr. Experiment Station

Adminis tration
Agronomy
Animal Husbandry
Animal Pathology
Creamery License
Dairy
Dairy Cattle Improve.
Entomology and Botany
Agr. Economics
Feed and Fertilizer
Home Economics
Horticulture
Poultry
Publications & Library
Public Service Labs.
Regional Research
Robinson Substation
Rural Sociology
W. Ky. Substation
Rob. Forestry
Farm Maintenance
Social Security
L ibrary
Bryant Farm


$  155,928, 85
   295, 142. 28
   100,926. 00
   59, 574. 00
   9, 29 1. 00
   83, 749. 00


$


104, 330. 00
180, 295. 00
150, 000. 00
41, 520. 00
42,425. 00
47, 996. 00
32, 153. 02


22,400. 00
38, 400. 00
73, 662. 00
  8, 000. 00
  39, 008.00

  9,460. 00
  5, 000. 00


11,954. 70
33,660.37
12, 665. 59
9, 178. 39
1,375. 16
9, 353. 50

14, 123. 82
25, 377. 58
16, 534. 38
1,994.35
6,400.95
4, 272. 27
3, 286. 47
   38. 50*

 2,001.56
 5,487. 13
 8,959. 47
   110. 04
 7, 348. 58


$    6,452.51
     2,649. 10
     1, 185. 72


     6,550.90

       250. 00

     8, 221. 08

       29 1. 50
     1, 245. 93


     1, 080. 21

     3,477. 77
       545. 55
     2, 084.93


1, 361.36


$ 1.37,521.64
  258,832. 81
  87, 074. 69
  50,395. 61
    7,915. 84
    67, 844. 60

    89,956. 18
    154,917. 42
    125,244. 54
    39, 525. 65
    35, 732. 55
    42,477. 80
    28, 866. 55
       38. 50

    19,318. 23
    32,912. 87
    61,224. 76
    7,344. 41
    29,574. 49

    8,098. 64
    5, 000. 00


Total-Agricultura-l Ex-
periment Station


$1,499,260. 15 $  175,407.17   $   34,035.20  $1,289,817. 78

                         13. 97%


* Negative Number.


6


             University of Kentucky
STATEMENT OF DEPARTMENTAL APPROPRIATIONS
     For the Current Fiscal Period which began
     July 1, 1954 and ended August 31, 1954


                  General Fund


Depart.
Approp.


Expendi -
ture s


Encurn-
brances


Approp.
Balance s


Agr. Extension Division:
Administration
Agr. Engineering
Agronomy
Animal Husbandry
Clothing
County Agents
Dairy
Farm & Home Conven.
Farm Management
Fore stry
Foods
Home Dem. Agents
Home Management
Horticulture
Junior Clubs
Markets
Poultry
Publications
Public Information
Rural Sociology
Farm & Home Der.
Social Security
Miscellaneous Adm. Res.


Total -Agricultural
   Extension


Combined Total


$  45, 547. 00
    31, 770. 00
    62, 837. 50
    30, 900. 00
    13, 200. 00
  863,892 00
  36, 467. 00
     1, 500. 00


$


11, 736. 00
12, 000. 00
547,580.00
30, 500. 00
21, 671. 00
89, 706. 00
38, 514. 00
31,900.00

61, 034. 00
6, 200. 00
145, 085. 05


6, 152. 43
4, 192. 61
9,316. 74
4,082. 11
1,911. 27
140,392. 91
4, 728. 73


$


$   39,394.57
    27, 577. 39
    53, 520. 76
    26, 817.89
    11, 288. 73
    723,499.09
    31, 738. 27
    1, 500. 00


1, 804. 98
1,868. 89
85,977. 25
3,661. 58
3,307. 92
14,632. 31
4,436. 66
3, 056. 45


9,931.02
1 0, 131.11
461, 602. 75
26, 838.42
18, 363. 08
75, 073. 69
34, 077. 34
28, 843. 55


7, 027. 27
952. 22
1,112. 86


54, 006. 73
5, 247. 78
143,972. 19


5, 000. 00


5, 000. 00


$2,087,039.55 $  298,615. 19    $              $1, 788,424. 36

                         14. 30%

$8,567,597.31 $1,074,023.41     $ 226,650.04 $7,266,923.86


                         15. 18%


7


            University of Kentucky
STATEMENT OF PLANT FUND APPROPRIATIONS
    For the Current Fiscal Period which began
    July 1, 1954 and ended August 31, 1954


Division of Colleges


Dept.
Appro .


Expendi-
ture s


Enc um -
brances


Free
Balance


Retirement of Indebtedness

st W. P.A. BondIssue     $

2nd W. P. A. Bond Issue

Dorm. Rev. Bond Issue

Audit-Field House

Lib. & Serv. Bldg. Issue

Stad. Add. Issue

Dorm. Rev. Issue (456 Rose)

Jour. Bldg. Bond Issue

Dorm. Rev. Issue (476 Rose)

Stud. Dorms. U. K.

Stud. Dorm. -Kappa Sigma

Stud. Dorm. -Lambda Chi

Stud. Dorm. -Phi Sigma K

Stud. Dorm, -Pi Kappa A

Dorm. Rev. Bond 1952

Lib. & Serv. Bldg. Res.


   Total-Retirement of
     Indebtedness s


36,915. 02

15, 902. 41

24,914. 25

59, 185. 01

44,679. 02

20, 159. 70

7, 892. 68

15,916. 75

7, 161.93

35, 783. 30

1, 71]. 34

   581. 34

 1, 146.34

 1, 141.87

 47, 675. 28

 37, 618.58


$


$


49, 229.47


$ 363915. 02

  15, 9 02. 41

  24,914. 25

  9, 9,55. 54

  44, 679. 02

  20, 159.70

  7, 892. 68

  15,916. 75

  7, 161.93

  35, 783. 30

  1, 711. 34

     581. 34

   1, 146. 34

   1, 141. 87

   47, 675. 28

   37, 618.58


358,384 82   $ 49,229.47      $                $309,155.35

                      13. 74%


8


            University of Kentucky
STATEMENT OF PLANT FUND APPROPRIATIONS
   For the Current Fiscal Period which began
     July 1, 1954 and ended August 31, 1954


Division of Colleges

Construction:

Dicker House Annuity

Norwood Hall Fire Loss

Men' s New Dormitory

Service Building

Fine Arts Building

Journalism Building

New Science Building

Sprinkler System

Six Small Dormitories

Women' s New Dormitory

Men' s New Dormitory


Dept.
Appro.


$    230. 68

  15,911. 25

  2, 568. 25

  3,697. 19

  2, 156. 47

  7, 938. 69

  3 300. 00

  4,443. 32

  13, 096. 02

  85, 820. 94


Expenditures


$


Encum-
brarres


$


Free
Balance


$    230.68

  15,911. 25

  2, 568. 25

  3, 69 7. 19

  2, 156.47

  7, 938. 69

  3, 300. 00

  4,443. 32

  13, 096. 02

  85, 820. 94


Total Construction


Total Plant Funds -
Division of Col-
le ge s


$139,162.81   $                    $              $139,162.81


$497,547.63   $ 49,229.47          $              $448,318.16

                             9.89%


9


         University of Kentucky
STATEMENT OF PLANT APPROPRIATIONS
For the Current Fiscal Period which began
  July 1, 1954 and ended August 31, 1954


            PLANT FUNDS


Dept.
Approp.


Expendi -
ture s


Encum-
brances


Free
Balance


-Agr. Exp. Station
Repairs and New
  Equipment


$ 96,926.22


$ 4,278.42


$16, 061. 00


$76, 586.80


Total Plant Funds -
Agricultural Ex-
periment Station


Combined Total


$ 96,926.22    $ 4,278.42Z       $16,061.00      $76,586.80


$594,473. 85   $53, 507. 89     $16, 061. 00  $524,904.96
                          11. 70To


10


           University of Kentucky
STATEMENT OF OTHER FUND TRANSACTIONS
   For the Current Fiscal Period which began
   July 1, 1954 and ended August 31, 1954


Balance
July 1, 1953


Receipts


Disburse -
ments


Balance
August 31, 1954


Restricted Funds:
DIv. of Colleges
Agr. Exp. Station
Agr. Ext. Division

   Subtotal

Loan Fund:

Income

   Subtotal

Endowment Funds-
Principal
Income

   Subtotal

Agency Funds:
   Balances


Combined Totals


$1, 692,383.20
   124,206e45
   135,345.34


$225,653.09
  88,767.98
  19,152.81


$257, 537.63
  33,666.90
  26, 718. 85


$1, 660,498. 66
   179,307.53
   127,779.30


$1,951,934.99  $333,573.88    $317,923.38   $1,967,585.49


$   73,316.01  $     40.00       $              $   73,356.01
    29,959.98       495.13             2.30         30,452.81

$  103,275.99       535. 13      $      2. 30   $ 103, 808. 82


$ 201,616.64   $                 $              $ 201,616.64
     3,049.03        39.89                           3,088.92

$ 204,665.67   $     39.89       $              $ 204,705.56


$   88,320.43  $ 64,050.09       $ 93,952.63    $   58,417.89

$2,348,197.08  $398,198.99    $411,878.31    $2,334,517.76


11


                      University of Kentucky
    STATEMENT OF COMBINED RECEIPTS AND EXPENDITURES
              For the Current Fiscal Period which began
                July 1, 1954 and ended August 31, 1954


Receipts and Transfers:


General Income
Plant Income
Restricted Receipts
Loan Fund Receipts
Endowment Fund Receipts
Agency Fund Receipts


$2, 670, 060. 02
    68, 164.59
    333, 573. 88
       535.13
       39.89
    64, 050. 09


Total Receipts


3, 136,423.60


Expenditures and Transfers (Including Encumbrances):

General Fund Expenditures
Plant Fund Expenditures
Restricted Fund Expenditures
Loan Fund Expenditures
Endowment Fund Expenditures
Agency Fund Expenditures


$1,300,673.45
    69,568.89
    317,923.38
         2.30

    93,952.63


Total Expenditures


$1,782,,120.65


15


      After some discussion, upon motion duly made, seconded and carried,
the report was ordered received and made a part of the minutes.


      C. Budget Changes.

      President Donovan submitted list of budget changes, showing net de-
crease in budget appropriations of $3, 220. 16. He recommended that the
changes as listed be approved.

      Upon motion duly made, seconded and carried, the budget changes were
authorized, and the Comptroller was directed to make the necessary budget ad-
justments.


      D. University Purchases Approved.

      President Donovan submitted a list of state requisitions, advices of
emergency purchases, et cetera, and read the following letter:


                                                July 17, 1954


      Dr. H. L. Donovan, President
      University of Kentucky

      My dear President Donovan:

             I submit a list of state requisitions, advices of emergency
      purchases, University D orders, special orders, and vouchers
      which have been made by the purchasing division from April 1,
      1954, through June 30, 1954, yet to be approved by the Board of
      Trustees.  The listing below gives the numbers of the documents
      requesting the purchase or actually issued as purchase orders or
      vouchers, which documents are made a part of this record and
      are held in the Office of the Comptroller subject to inspection.
      The purchases have been made on properly drawn documents at the
      request of the various departments and have been charged against
      available funds.

             State Requisitions numbered      862 through lZ07
             Emergencies                        225 through 309
             University D orders                16586 through 16609
                                                 16665 through 16725
             Special Orders                     3106 through 4230
             Vouchers                           1 through 2876

             The foregoing record of purchases is respectfully submitted
      with the request that they be approved by the Board of Trustees,
      thereby ratifying the action of the Comptroller in making the


16


     purchases.

                                                Respectfully submitted

                                   (Signed)    Frank D. Peterson
                                                Comptroller


     President Donovan recommended that the purchases as listed be approved.

     Upon motion duly made, seconded and carried, purchases made as indi-
cated by

               State Requisitions numbered    862 through 1207
               Emergencies                     225 through 309
               University D orders             16586 through 16609
                                                16665 through 16725
               Special Orders                  3106 through 4230
               Vouchers                        1 through 2876

were authorized approved, ratified and placed on record in the minutes.


     E. Campus Book Store Contract Approved.

     President Donovan submitted contract between the University of Kentucky
and James E. Morris, for the operation of the Campus Book Store for a period
of two years, beginning January 1, 1955.  President Donovan stated that the
contract was identical with the existing contract in force and gave a resume of
the provisions of the contract.

     Members of the Board read the contract in its entirety.

     Upon motion duly made, seconded and carried, the contract was approved,
and the Comptroller was authorized to execute same on behalf of the University.


     F. Rebuilding of Cooperstown Authorized.

     President Donovan made the following statement to the Board:


            When World War II suddenly ended in the summer of 1945 col.-
     leges and universities of this country recognized that they would
     soon be overwhelmed with students whose college education had been
     delayed.  The University of Kentucky was one of the first institu-
     tions in the United States to secure temporary housing for this in-
     flux of students.  With the aid of Colonel James H. Graham, Dean
     of the College of Engineering, who was at that time advisor to the
     Secretary of the Army, we were able to secure fromn Charleston,


17


Indiana, a number of prefabricated houses that had just been erected
for the laborers of that community (but never lived in). These
houses were furnished and ready for occupancy as soon as we could
get them transferred to the University. The University entered
into a contract with a trucking company, got special permission for
the houses to be hauled over the highways, and erected Cooperstown
in the course of three or four months. The houses were ready for
occupancy by the first of 1946.

       It was necessary to build sewers, roads and electrical lines
to serve these houses.  The University spent out of its funds, not
of tax origin, more than $50, 000 getting this village ready for the
young ex-G. I. 'I and their families.  We entered into an agreement
with the Federal Government that these houses were to be used for
five years only, after which they were to be torn down as the govern-
ment wanted to be assured that they would not become in time a slum
area.  More than seven years have passed since this village was
established.  The houses, made of flimsy materials, have disintegrat-
ed to the extent that it is not financially profitable to repair them.
The village will soon be a slum area if something is not done about
it.

       In this village of Cooperstown, a self-governing village with
its own mayor and councilmen, have lived some of the most wonder-
ful young people I have ever known.  For most of these couples
this was their first home and it is here the first babies came to many
of the homes.  These young people have loved Cooperstown, they
have had a pride in it, and though their homes were humble they have
lived intelligently and happily in these prefabricated houses. The
time has come when something must be done about Cooperstown.
It cannot go on any longer as it is.

       Some months ago I discussed with the Executive Committee
the desirability of asking Architect Ernst Johnson to advise us how
Cooperstown might be rebuilt taking advantage of the utilities we have
already and which represent quite an investment.  Mr. Johnson has
met with the Executive Committee and made many constructive sug-
gestions and recommendations.  The Executive Committee requested
him to go ahead and plan a layout that he could submit at this time to
the Board of Trustees for its consideration.  Mr. Johnson has pre-
pared a plan which appears to me to be excellent and practical.  Under
this plan the old houses are to be removed and permanent fireproof
structures are to be built replacing them. The cost of this project
will be borne by a bond issue which can be retired from the income of
these properties over a period of thirty years.

       The United States Office of Education recently issued the fol-
lowing statement: "Every college man in his right mind is working
feverishly to meet the rise in enrollment due in 1958, when students
will be running out of his ears. " The enrollment of the University
of Kentucky is already rising again. The war babies will be arriving
at the University by 1958.  Each year thereafter their number will
increase at a phenomenal rate.  Dr. Leo M. Chamberlain, who has


1  
o


       made a careful study of the subject, says that we have every rea-
       son to expect that the University can enroll as many as 10, 000,
       or even 12, 000, students by 1965 or 1970, provided it is ready.

              It is now time to build these facilities so that we may be
       ready.  Cooperstown, as it now stands, must come down.  New
       facilities must be constructed for the married students which we
       may expect from now on as part of our college population.  Every
       university in this country that I know anything about is making
       preparation for young married students and the University of
       Kentucky must not be an exception.


       President Donovan showed the members of the Board a small model of
the Cooperstown area and the proposed apartment buildings.  He stated that
Mr. Ernst Johnson of the firm of Brock and Johnson, architects, was present
to explain the proposed type of structures, and layout and design of the one-
and two-bedroom apartments.

       The model of the new Cooperstown area provides for 333 one- and two-
bedroom efficiency apartments.  Each two buildings will have laundry facil-
ities and central heating unit.

       It was estimated that the proposed project, including utilities, road-
ways, architects' fees, et cetera, will cost about $2,850,000.  President
Donovan thought the project could be financed through the issuance of 30-year
revenue bonds, and that the bond issue could be amortized from the proceeds
collected on rental of the facilities. It was related that it would be necessary
for the architects to proceed with plans and specifications, and for the Universi-
ty to take the necessary steps preparatory to the authorization, issuance and
sale of revenue bonds.

       Members of the Board expressed deep concern for the rebuilding of
Cooperstown, and after a general discussion of the model exhibited and other
aspects of the project, upon motion duly made, seconded and carried, the
President and Comptroller were authorized to contract with the architects
for plans and specifications, and to request of the State Property and Building
Commission approval of the project, and authorization for issuance, sale and
delivery of the revenue bonds necessary to complete it.


       G. Committee of Fifteen on the Uni</pre>