<pre style="white-space: pre-wrap">xt7ffb4whq8f https://exploreuk.uky.edu/dips/xt7ffb4whq8f/data/mets.xml Lexington, Kentucky University of Kentucky 19340327 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, 1934-03-mar27-ec. text Minutes of the University of Kentucky Board of Trustees, 1934-03-mar27-ec. 1934 2011 true xt7ffb4whq8f section xt7ffb4whq8f 


    Minutes of tMeeting of the Executive Committee of the Board of
Trustees of the University of Kentucky, March 27, 1934.


     The Executive Committee of the Board of Trustees of the Uni-
verwity of Kentucky met in President HoVeyts office at the Univer-
sity of Kentucky March 27, 1934, at 10:30 a..m.   The members of
the Committee present were Judge R. C. Stoll, Chairman; Joe B. An-
drews and R. G. Gord.on.  President Frank L. McVey and Secretary
D. H. Peak were also present.


     1, Minutes Approved.

     The Minutes of the meeting of the Executive Committee of Feb-
ruary 21, 1934, were approved. a8. published.


     2. Financial Report.

     The Financial Report for February was received and ordered to
be recorded in the Minutes.    It reads as follows:


Statement of Income and Expenditures
       Month of February 1934


Previously
Report ed


current
Month


EXHIBIT 'TB"


  Fis cal
  Yearc
  To Date


General Fund Income
  Federal Appropriation     32,062.50
  Vocational Ed. Board      10,494.15
  Bureau of Mineral and
  Top. Survey - Misc.
  Receipts                     834.51
  Bureau of Mineral and
  Top. Surrey - State Appro. 2,329.10
  Special Agr. Appro.       19,956.04
  State Tex                321,802.13
  Int. on Endowment Bonds    8,644.50
  Int. on Liberty Loan Bonds   850.00
  Student Fees              92,960.82
  Student Fees - Summer
    School                  37,487037
  Student Fees - U.H.S.       8,127,50
  Student Fees - El.Tr.Sch.  6,599.50
  Student Fees   Un. Ext.   12,453.84
  Miscellaneous Receipts     5,187.73
  Rentals                     1,347.80
  Mien's Dormitories          7,298.01
            Total          5i68,435.50


            32,062.50
2,100.02    12,594.17


   110.87

   175.00
 3,954.75
 28,643.86


 80,207.87


 1,447.50
 1,140.00
 1,850.95
    582.18
    304. 70
  3,938.75
124,456.45


   945.38

   2,504.10
23,910.79
350,445.99
  8,644.50
    850.00
173,168.69

37,487.37
  9,575.00
  7,739.50
  14,304.79
  5,769.91
  1,652.50
  11,236.76
692.891. 95


Expenditures
Instyuction
Adm. Expense & Maint.
Additions and Betterments
             Total

 Excess of Income over Ex-
 penditure s

Patterson Hall Income
  Board
  Misc, Receipts
  Room Rent - Sum. Sch.
             Total


410,291.26
158,573.88
  7,427.51


72, 780. 79
18,138.34
   559. 51


576,292.65      91,478.64

    (,5.15)     32 977.8


 23,773.86       5,966.25
    157.93
  2,936.65
  26,868.44       5,966.25


Expenditures
  Expense                   20,381.97
  Additions and Betterments   .901,30
             Total          21,283.27
  Excess of Income over Ex-
    penditures               5,585.17

General Fund Income        595,303.94
General Find Expenditures  597,575,92
  Excess of General Fund
  Income over Expendi-
  tures                    (2,271.98
  Accounts Payable liqui-
  dated                   (21,447,30
  Excess of Receipts over
  Expenditures for General
  Ledger accounts          49_286,68
  Excess of Receipts over
  Exoenditures for the fis-
  cal year to date - General
  Fund                     25,5&7.40


3 816.86
t206 30)
3.610.56


      2,355.69

    1301422. 70
    95,089.20


)    35,333.50


-   - 2,893.12


      38,226.62


483,072.05
176,712.22
  7,987,02
667,771.29


25,120.66


29,740.11
    157.93
  2,936.65
  32,834.69


24,198.83
   695, 00
24,893,83

7,940.86

725,726 64
692,665,12


33,061.52

(21,447.30)

52,3.79.80


63 794 02


Excess of Receipts over Ex-
penc'.itures for the fiscal
year to date - General Fund
Cash in Bank July 1, 1933
General Fund
Cash in Baxk February 28, 1934 -
General Fund


63,794.02

1s 671, 05

80 465,07


3.


Experiment Station Income
  Hatch - Federal Appro.
  Milk and Butter - Cash
    Receipts
  Beef Cattle Sales
  Dairy Cattle Sales
  Sheep Sales
  Swine Sales
  Poultry Sales
  Farma Produce Sales
  Horticulture Sales
  Seed. Test
  Sece Inspection
  Rentals
  Mi sc ella&neous
  Fertilizer - Fees
  Public Service - State Ap.
  Public Service - Misc.
    Receipts
  Feeding Stuffs - Fees
  Adams - Federal Appro.
  Serum   Sales
  Serum   Virus Sales
  Serum   Live Stock Sales
  Serum - Supply Sales
  Seru.n  Miscellaneous Rec.
  State Appro.
  Creamery - License Fees
  Creamery - Testers Lic.
  Creamery - Glassware Test.
  Robinson   S State Appro,
  Robinson - Misc. Rec.
  Test Ky. - State Appro.
  Vest Ky.  Hisc. Rec,
  Purnell - Federal Appro.
  Nursery Inspection - Fees
  Blooc. Test
              Total         )

Expeni iture 8
  Expense
  Additions and Better.
              Total

  Excess of Income over Ex-
  peneiture s


11, 250. 00


5,884.40
   24.89
   229.61
   326.86
   144.67
1,140.64
  248.95
1,490. 72
   255.03
3,907.79
5,147.66
   156.11
6 342, 25
10, 804,17

    26.05
18, 513.75
11, 250. 00
   671,41
   37.75
   200.00
   58.38

26t383,10
6 418. 50
2 , 188. 35
   340.68
 5, 513.05
 1,053.85
 7,973.42
   891.99
45,000.00
1, 02500
   477. 0
.75,376.53


L65,438. 75
1,141. 97
866, 580.72


8,795.81


Excess of Expenditures over
Receipts for General Ledger
accounts                 19, 168.01
Excess of Expenditures over
Receipts                 (10, 372. 30 )
Excess of Expenditures over Re-
ceirts for the fisc al year to
da-te - Experiment Station


1, 108. 99
   20,50
   76. 70
   2.78
   18. 73
   187. 24
   381.94
   49. 75
   123. 75
2,478.89
  144. 66
  192.50
3,625. 00
1,833. 33


3,864.50

   91.00
   6,15

   12.80
   4.00
5,003.54
   61, 50
   36. 00
   36.58
1, 584, 30
  114.99
1$ 401. 40
   366. 75


100.00
35 00


11,250. 00

6,993.39
    45.39
    306; 31
    329,64
    163.40
 1,327.88
   630.89
 1,540.47
   378. 78
 6, 38e. 68
 5,292.32
   348.61
 9,967.25
 12 637.50

    26.05
22, 378.25
11,250.00
   762. 41
   43.90
   200Q 00
   71. 18
     4.00
31, 386.64
6,480. 00
2,224 35
    377.26
  7,097.35
  1,168.84
  9,374.82
  1,258.74
  45,000.00
  1,125.00
    512-50


22,963 27 -18,339 80


21,579, 71  187,018.46
   243, 05    1 385.02
21,822.76   188,403.48


1,140.50     9,936.32


(2,082.,18)  (21,250

  (941 67) (11,313687)


(11,313.87)


4


Cash in Bank July 1, 1933 -
Expei'iment Station
Cash in Bank  ebruary 28, 1934
-- Experiment Station


Extension Division Income
  Feera.l Smith-Lever          '7.%, 154. 38
  Federal Add. Co-op.          15,500.00
  Fee.eral Supplementary       26,545.52
  Federal Capper-Ketcham       18,400. 49
  State Smith-Lever            91,875.25
  County and Other                989. 65
                Total         227, 465. 29

Txpenditures
  txnense                     211 257. 64

  Excess of Incomeover Expend-
  itures                      16,207,65

  Excess of Income over Expend-
  itures for the fiscal yea.r
  to date - Extension Div.
  Ca.sh in Bank July 1, 1933 -
  Extension Division
  Cash in Bank February 28, 1934
  -- Extension Division


15,445.60
   237.92


74, 154.38
15,500.00
26,545.52
18,400,49
107,320.94
1,227.57


15,683.61  243,148,90


31510,14  2423767.78


(151826,53)     381,12


  381.12

9,064.09


9 445. 21.


Trust Fund Income
  Student Loan Fund
  Stud'ent Notes Paid
            Total Receipts


Txpene.itures
  Expense
  Studqent Notes
            To t, ax1

  Excess of Receipts over E3
  penditures


272.00       41,00
142. 00
414.00       41 00


95. 72      369,17


Excens of Receipts over Ex-
penditures for the fiscal
to dlate  Trust Fund
Cash in Bank July 1, 1933 -
Trust Fund
Cash in Bank February 28,
1934   Trust Fund.


16,455,13


5.141.26


  370. 28
1, 000, 44
1. 370- 72


150.19
059 98


  520. 47

1. 780. 89


313, 00
1425.00
_55.0


1,325.89


1,325.89

  994. 93


2,320.82


.  


5.


Summary
  General Fund Income
  Experiment Station In-
  corme
  Extension Division In-
  come
  Trust Fund Income
            Total


595,303.94  130, 422.70  725,726.64


175,376.53

227, 465.29
    370. 28
9f98,516.04


General Fund Expend.    597,575,,92
Experiment Sta. Expend. 166,580,72
Extension Div. Expend.  211%,57.64
Trust Fund Expenditures     272.00
          Total          975,686.28


Excess of Income over Ex-
pend itures


22,829.76


22, 963. 27  198,-339.80

15,683e61   243,148.90
    150.19       520.47
1 69,-19 77 1,167,735.81

95,089.20   692,665.12
21,822.76   188 , 403. 48
31,1510.14  242 s767. 78
     41.00       313.00
148, 463.10  - 12413 414938


20,756.67


43, 586,43


Accounts Payable lioui-
dated

Excess of Receipts over
Expenditures for General
Ledger accounts


Student Loan Fund Notes


(21,447.30)


30,1118,67

   R58 44


EXCess of Receipts over Ex-
penditures for the fiscal
year to date - Combined
Fhd                      _


(21,447.30)


810.94   30, 929.61

259.98    1.118.42


21 i827 59


Excess of Receipts over Ex-
penditures for the fiscal
year to date - Combined
Fund
Cash in Bank and. on hand July
1, 1933 - Combined Fund
Cash in Bank and on hand February
28, 1934 - Combined Fund


54.187. 16


54, 187.16

45,185.20


99 372 36


6.


               Abstract of item shown on statement
               of Income and Expenditures as "Excess
               of Receipts over Expenditures fork
               General Ledger Accounts $30,929.61."


                                  Debit              Oredit

   Accounts Receivable        28,839.96

   Insurance Paid in Advance     130.89

   Sundry Accounts                                9,900.46

   Notes Payable                                 50,000.00

                               .28,970,85         59,900.46

                                                  283970,85

                                                  30F929.61


     3. Income and Expenditures.

     The Business Agent further reported state tax receipts, in-
cluding March remittance for February collections for the period
of July 1, 1933 to February 28, 1934, as follows: inheritance tax
$128,132.52, mill tax $242,849.36,   He also reported estimates of
income and expenditures for the remainder of this fiscal year,


     4. Sale of State Warrants.

     The Business Agent reported that State Warrant No. C-.13277
for $948.87 was sold to the Security Trust Company for 92-3/4 per
cent and accrued interest.   The warrant amounted to $880.08, the
interest to $9.88, total $889.96,   This is a loss of $58.91 The
warrant was issued in part payment of amount due by Vocational Re-
habilitation Board for fees and supplies for students.    The lose
has been charged to the students and each student has been noti-
fied to pay his part thereof.   This change was made on suggestion
of a representative of the Vocational Rehabilitation Board.   On
motion and second the sale was approved.


7.


     5. Bureau of Mineral and. Topographic Survey - Pay Rolls Ap-
proved.

     The following pay rolls of Bureau of Mineral and Topographic
Survey were approved:

                            March, 1934

     David M. Young       -    1 month      -     $l?0,00

     Louise Barton        -    1 month      -       65.00


     Ordered certified to Auditor of Public Accounts.


     6. Release of Securities, First National Bank of Princeton.

     The Businers Agent reportedthat following    the order made at
last meeting of the Executive Committeehe notified the First Na-
tional Bank and Trust Company of Lexington, Kentucky, to release
the securities of the First National Bank of Princeton, Kentucky.
The following correspondence shows the action taken:


    March
    Eighth
    1 9 3 4


    MTr. J. M. Sellers, Cashier
    First National Bank and Trust Company
    Lexington, Kentucky

    Dear air. Sellers:

    Sometime ago the First National Bank of Princeton, Ken-
    tucky, put into your hands certain securities to be held
    in escrow to secure the deposit of the Western Kentucky
    Sub-Experiment Station in that bank.    L. G. Cox, Cashie r,
    recently reouested that  inasmuch as deposits are no- see-
    cured to the extent of 42500.00,these securities be re-
    leased,   I presented the matter to Dean Cooper and, on
    his approval, the Executive Cormittee, at its meeting of
    February 21st, made an order that the securities be re-
    turned to the First National Bank at Princeton.

    This letter will authorize you to take the necessary
    steps toward releasing these papers and delivering them
    to aforesaid bank.

    Very truly yours,

    D. H. Peak
    Secretary of Board of Tristees


8.


            FIRST NATIONAL BANK & TRUST C0.
                     Lexington, Ky.


                                 March 22, 1934


Mr. L. G. COx, Cashier,
First National Bank,
Princeton, Ky.

Dear Mr. Cox:

               In accordance with recuest that you have
made officially in your letter of March 12th, we hand. you
herewith the following securities that have been held by
us under the terms of an escrow arrangerment between your-
selves and the University of Kentucky


$2750.00 - Fourth Liberty L(
           No.F02786726 - $
              G00069807 -
              G01266217
              D00426574 -
              F029757S6 -
              D02975594 -
              E02764055 -
 257.88 - State of Kentucky
          No. D3875 payable
          endorsements).


)an 4-1-ooupon Bonds 1933-38
L,000 Coupon 4/15/33 and asca.
500   'I   4/15/34 and  "
500 Coupons due 4/15/33 and asca.
500   "    4/15/33  .    "  
100   I    4/15/33       ,,
100   "    4/15/33 "
  50        4/15/34       "  
Warrant dated January 7th, 1931,
to Duke Pettitt (no interest


     The instrument under which these securities were held in
dated April 22nd, 1932.

                           Yours very truly,


J TB: H
Enc.
REGISTERED MAIL


(Signed) J. H. Sellers
          Cashier


P. S. Please sign and return the enclosed receipt for our files.


9.


                              Princeton, Kentucky

                              March     __   , 1934


                      RECEIPT


Received from the First National Bank and Trust Company
of Lexington, Lexington, Kentucky, the following described
securities:

     $2750.00 Fourth Liberty Loan 4.X% Coupon Bonds 1933-38
              No. F02786726 $1,000.00
                  G01266217 -    500.00
                  D00426574 -    500,00
                  F02975766      100.00
                  D02975594 -    100.00
                  with coupons due 4/15/33 and asca.
                  G00069807 -    500.00
                  E02764055 -     50.00
                  with coupons due 4/15/34 and asca.

 257.88   State of Kentucky Warrant dated January 7th, 1931,
          No. D3875 payable to Duke Pettitt (no interest en_
          dorsements).

The above described securities were held as Escrow Agent un-
der terms of an agreement dated April 2 2nd, 1932.

The undersigned accepts delivery of these securities and
does hereby fully and finally release the said Ft'st Nation-
al Ban-k and Trust Company from any and all liability there-
after.

                                  FIRST NATIONAL BAIlK


(Signed)   By


L, C. Cox
Cashier


10.


     7. Legislative Situation and the University Budget.

     The legislative situation so far as it may affect the Uni-
versity was discussed at some length.   As no budget bill was
passed at the regular session, the President stated that he can
not now present a proposed budget for the University.   The mnat-
ter of the budget was deferred pending definite action as to ap-
propriations by the State authorities.


     8. Armory.

     President icJey reported that an attempt is being made to
get the Federal Government to erect armories at Land Grant Col-
leges without cost to the institutions.   The members of the Com-
mittee commented favorably on such a project and authorized the
President to keep in tcuch with the progress thereof.

     9. Grant to City of Right-of-Way on Limestone Street,

     The Business Agent stated that he bad mailed a copy of the
deed to the City of Lexington to the Secretary of' State for record,
and that it had been returned with a copy of a letter from the
Attorney General in rhich he gives an opinion that the University
can not sell and convey the property in cuestion.   It was suggest-
ed that the writing is merely a grant of right of way for street
purposes, reverting to the University in event it ceases to be
used for such purposes, and no further action was taken.

    10. Athletic Association.

    President McVey made report that the Athletic Council has made
a revision of the constitution and by laws of the Athletic ;ssocia-
tion, stating in brief the changes made therein and the effect of
such changes.   It w7as ordered that the report be received and
filed and that notation thereof be made in the minutes.

     11. Control of Fraternity Finances.

     President HoVey presented a copy of "Recommendations of the
Committee on Fraternity Finance," based on a survey made by the
Committee.   The President reviewed the report, and the Executive
Committee approved its adoption.

     12. University Extension Agreement with University of Louis-
ville.

     President CcVey stated that it is proposed that the University
of Kentucky sad the University of Louisville enter into an agree-
ment in regard to University Extension Classes in Louisville. Pres-
ident McVey has had communication with President Kent, relative to
the terms of the agreement, and stated that some agreement is de-
sirable, provided it does not interfere with obligations to other
organizations in Louisvill~a.  President MclTey was authorized to
act as he thinks best in regard to the proposal.


11.


     13. Meeting of the Board of Trustees.

     It appearing that the date of the regular April meeting of the
Board of Trustees is Tuesday, April 3, 1934, and it being deemed
advisable to hold the meeting at a later date, it was agreed that
the date be fixed for Thursday, April 5, 1934.   President P. L.
McVey and Secretary D. H. Peak were authorized to open the meeting
on Tuesday, April 3, and note a continuance to Thursday, April 5.
The Secretary was authorized to notify the members of the Boardcof
the date of the continued meeting.


     14. Widening Rose Street.

     It was moved and seconded that the reouest of the City of Lex-
ington to widen Rose Street from Limestone to Washington Avenue be
referred to the Committee heretofore appointed, to-wit, President
F. L. McVey, Dr. George Wilson, and Mr. Louis Hillenmeyer, provid-
ed, in the opinion of the Preiident of the University and the Com-
mittee before named, this widening can be done without material in-
jury to the University and that the benefits to the University be
greater than the injuries to the property.   The motion carried,
the Committee being empowered to act.


     15. Fiftieth Anniversary of Experiment Station,

     President McVey reported that the year 1935 is the fiftieth
anniversary of the Kentucky Agricultural Experiment Station, and
that it is the recommendation of Dean Cooper and his staff that
a fiftieth anniversary celebration be held,   The recommendation
was approved, with the suggestion that the Director of the Experi-
ment Station present to the Board of Trustees further recommenda-
tions showing the manner in which the celebration is to be conduct-
ed.

     16. Appointments and Other Staff Changes.

     Robert L. Rudolph was employed as seed inspector, Experiment
Station, salary 1t150.00 per month, his services to be terminated
on recommendation of Dean Cooper.

     Appointment of Mary Louise Scott as assistant Home Demonstra-
tion Agent, Union County, salary $50,00 per month, to be paid from
Federal Capper-Ketcham funds.


     On motion the meeting adjourned.


D. H. Pealk
Secretary, Board of Trustees


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