xt7t1g0htz8r https://exploreuk.uky.edu/dips/xt7t1g0htz8r/data/mets.xml Lexington, Kentucky University of Kentucky 19501212 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, 1950-12-dec12. text Minutes of the University of Kentucky Board of Trustees, 1950-12-dec12. 1950 2011 true xt7t1g0htz8r section xt7t1g0htz8r 



Irregularities




 












      Minutes of the Meeting of the Board of Trustees of the Univer-
sity of Kentucky, December 12, 1950.


     The Board of Trustees of the University of Kentucky met in
the President's Office at 10:10 a.m., Tuesday, December 12, 1950.
The following members were present: Governor Lawrence W. Wether-
by, Carl Dempewolfe, Harry F. Walters, J. C. Everett, H. D. Palmore,
Guy A. Huguelet, R. P. Hobson, Boswell B. Hodgkin, George M. Cheek,
Harper Gatton, and Herndon Evans.    Absent: Mrs. Paul G. Blazer, J.
Woodford Howard, Paul M. Basham, and Dr. W. M. Coffee.     President
H. L. Donovan and Secretary Frank D. Peterson met with the Board.



     A. Mr. Evans New Member.

     Mr. Herndon Evans presented commission of appointment as Alumni
Member of the Board of Trustees.    Mr. Evans was appointed to take
the place of T. H. Cutler, Frankfort, Ky., whose term expired Decem-
ber 31, 1949.



     B. Minutes Approved as Published.

     Upon motion duly made, seconded and carried, the minutes of the
Board of TrusteeB of September 19, 1950, and the minutes of the Execu-
tive Committee of October 25 and November 17, 1950, were approved as
published.



     C. Report of Comptroller.

     The Comptroller made a report of the financial operation of the
University as of November 30, 1950.    He read the following analysis
and submitted balance sheet, together with supporting statements of
fund and budget operations.




 







LEXINGOF


LEXINGTON



Office of the Comptroller



December 7, 1950



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 November 30,
1950, together with supporting statements of fund and budget operations for the
period of five months ended on that date.

       University income realized during the period amounted to $3,803,132.67.-.
This amount was 53.0% of the budget estimate of $7,181,674.51.

      General fund expenditures and encumbrances totalled $2,774,792.00, which
is 38.5% of departmental appropriations amounting to $7,200,233.31.

      Plant fund expenditures and encumbrances amounted to $536,501.23 during
the period, or 57.1% of the budget estimate of $939,399.03.

      The balance sheet shows a general unappropriated surplus of $683,949.76,
distributed as follows:



Division of Colleges
Agricultural Experiment Station
Agricultural Extension Division

                Total



$426,894.25
Z53,805.70
   3,249.81

$683,949.76



These amounts are available to be appropriated for such purposes as the Board
may authorize.

      The current bonded indebtedness of the University is $2,820,000.00 and
the net investment in Equipment, Land and Buildings is $25,614,917.60.
       1,
                                    Respectfully submitted,




                                    Frank D. Peterson
                                    Comptroller



UNIVERSITY



KENTUCKY




 




University of Kentucky
   BALANCE SHEET
As of November 30, 1950

    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

Restricted:
Cash in bank
Petty cash advs.
Investments
   Total re-
   stricted
   Total current

Plant Funds:
Unexpended:
Cash in bank
Revolv. funds
Unreal.income
   Total unex-
   pended



$    79,290.31
       670.00



4 61, 756  i '
10,070.94
922,778.11
23,667.73
596,265.63
111,768.20



$   74,693.13


   1!78,891.89
     1,621.23
  268,536.71



$ 103,713.70  $   257,697.14
                      670.00



84,289.28



27,910.00



724,937.32
  11,692.17
1,191,314.82
  23,667.73
  624,175.63
  111,768.20



  2,093,622.05   520,012.23    736,240.96   3,349,875.24
$ 4,299,889.12  $1,071,665.19  $ 924,243.94  $ 6,295,79825


$   706,036.01  $  72,553.66  $ 246,136.07  $ 1,024,725.74
     12,370.00        200.00                       12,570.00
     689,744.05      15,000.00                     704,744.05

$ X,400.,150.06  $  87,753.66  $ 246,136.07  $ 1,742,039.79
$ 5,708,039.18  $1,159,418.85  $1,170,380.01  $ 8,037,838.04





$  689,736.71   $ 174,709.53                  $   864,446.24
    28,666.60                                     28,666.60

$  718,403.31   $ 174,709.53                  $   893,112.84



Investment in Plant:
Construction



authorized
Fixed assets
   Total-Invested
   Total-Plant



Other Funds:
Cash in bank
Notes receiv.
Investments
   Total other
   funds



Total Assets



$   225,000.00
25,498,340.61
$25,723,340.61
$26,441,743.92



$2,711,576.99
$2,711,576.99
$2,886,286.52



$  225,000.00
28,209,917.60
$28,434,917.60
$29,328,030.44



     Loar        Endowment       Agency


$     5,311.05  $    6,202,02  $   49,792.77  $    61,305.84
      4,436.01                                      4,436.01
      68,000,00     196,081L96      15,000.00      279,081.96

$    77,747.06  $ 202,283.98  $  64,792.77  $  344,823.81

                                              $37,710,692.29



Division
  of
Colleges



Total




 





University of Kentucky
  BALANCE SHEET
As of November 30, 1950

LIABILITIES



Agricultural
Experiment
  Station



Agricultural
Extension
Division



Current Funds:
General:
Res. for encumbrances:



Current year
Prior year
Res. for inventori(
Other liabilities
Unapprop. surplus
Approp. bals,
Total General

Restricted:
Outstand.cks.
Restr. bals.
Total Restr.
Total Current



s



263,452.43
105,407.46
596,265.63
111,768.20
426,894,25
2,796,101,15



$   72,663.36
     8,940,10
   27,9 10.00



253,805.70
708,346.03



$



  3,249.81
920,994,13



$  336,1 15.79
    114,347,56
    624,175.63
    11 1,768e2C
    683,949.76
  4,425,441.31



$ 4,299,889.12  $ 1,071,665.19  $ 924,243.94  $ 6,295,798,25


$     5,323.78                                $     5,3Z3.78
  1,402,826.28  $  87,753.66  $ 246,136.07    1,736,716.01l
$ 1,408,150.06  $  87,753.66  $ 246,136.07  $ 1,742,039,69
$ 5,708,039.18  $ 1,159,418.85  $ 1,170,380.01  $ 8,037,838,04



Plant Funds:
Unexpended:
Res.for encumbrances:
Curtent year    $   434,818.60
Prior year
Surplus funds         24,653,98
Approp. bals.        258,930,73
  Total Unexpended$  718,403,31

Investment in Plant:



$   12,724.26
    18,0 18.20



$  447,542.86
     18,018.20
     24,653,98



   143,967.07                    402,897e8(
$  174,709,53                 $   893- 1-1Z.84



Bonds payable
Net invested
Total invested
Total Plant



$ 2,820,000.00
22,903,340.61
$2 5,723,340,61
$26,441,743.92



$2,711,576.99
$ 2,711,576.99
$2,886,286.52



$ 2,8Z0,000.00
25,614,9 17. 60
$ 28,434,917,60
$29,328,030.44



Endowment



Other Fundse
Balas to principal$
Bal. as to income
  Total other funds$



56,297.61
21,449.45
77,747.06



$ 199,928.18
    2,355.80
$ 202,283.98



$   64,792.77  $   3210 1,8.56
                    23,805.25
     $  64,792.77  $ ~ ?344,8~23.81



$ 37,7 10,692,29



Division
  of
Colleges



Total



Loan



Agency



o



Total Liabilities




 





        I '                          University of Kentucky
STATEMENT OF CHANGES IN UNAPPROPRIATED SURPLUS AND SURPLUS PLANT FUNDS
                         For the Current Fiscal Period which began
                         July 1, 1950 and ended November 30, 1950

                                       Division of Colleges



General



Plant



Total



Balance, Jaly 1, 1950            $

Additions:
Proceeds of bond issues
Encumb. liquidations            $
Transfers
Estimated income
  Total additions                $
  Total credits                  $

Deductions:
Transfers
Appropriations                  $
  Total Deductions               $
Balance, November 30, 1950       $


                       Agricultural



539,027.92 $ 195,845.69  $ 734,873.61


            $   76,143.17  $  76,143.17
   12,961.61   393,042.52   406,004.13
   65,199.56                   65,199.56
4,283,807.37  202,783.00   4,486,590.37
4,361,968.54 $ 671,968.69  $ 5,033,937.23
4,900,996.46 $ 867,814.38  $5,768,810.84


            $   62,649,56  $  62,649.56
4,474,102.21  780,510.84   5,254,613.05
4,474,102.21 $ 843,160.40  $5,317,262.61
426,894.25 $  24,653.98  $ 451,548,23



Experiment Station



Balance, July 1, 1950

Additions:
Encumb. liquidations
Transfers
Estimated income
  Total additions
  Total credits

Deductions:
Encumbrance liquidations
Transfers
Appropriations
  Total deductions
Balance, November 30, 1950



General       Plant
$  426,355.15 $  13,001,69



Total
$ 439,356.84



              $    4,761o24  $    4,761.24
                  141,125.26    141,125,26
$ 1,136,602.21                 1,136,602.21
$ 1,136,602.21 $  145,886.50  $1,282,488.71
$ 1,562,957.36 $ 158,888.19  $1,721,845.55


$      377.23                 $     377.23
    141,125.26                   141,125.26
  1,167,649,17 $ 158,888.19  1,326,537.36
$ 1,309,151.66 $ 158,888.19  $1,468,039.85
$  253,805.70                 $ 253,805,70



539,027.92 $ 195,845.69  $ 734,873.61




 






                                  University of Kentucky
STATEMENT 0- F CHANGES IN UNAPPROQPRIATED SURPLUS AND SURPLUS PLANT FUNDS
                        For the Current Fiscal Period which began
                        July 1, 1950 and ended November 30, 1950

                                  Division of Colleges


                            Agricultural Extension Division



General



Plant



Total



Balance, 3uly 1, 1950

Additions:
Fire loss claims
Encumb.liquidations
Estimated income
  Total additions
  Total credits

Deductions:
Appropriations
  Total deductions



Balance, November 30, 1950



$   2,711.30                 $    2,711.30




$     538.51                 $     538.51
1,558,481.93                 1,558,481.93
$ 1,559,020.44               $1,559,020.44
$1,561,731.74                $1,561,731.74


$ 1,558,481.93               $ 1,558,481.93
$ 1,558,481.93               $ 1,558,481.93

$   3,249,81                 $    3,249.81




 




          University of Kentucky
STATEMENT OF UNREALIZED INCOME
For the Current Fiscal Period which began
July 1, 1950 and ended November 30,1950

              General Fund



Budget
Estimate



Division of Colleges:
Educational and General:
State appropriations
Federal grants (through the State)
Student fees
Endowment income
Sales and services and rentals
   Subtotal

 Auxiliary Enterprises:
 Residence halls
 Miscellaneous
   Subtotal
   Total-Colleges
Less-Income allocated to plant
   Net-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





General income allocated
Stores overhead
   Total-Plant

   Combined Total



$2,714,400.00
   127,617.87
 1,131,515,00
     9,644,50
   40,200e00
$4,023,377.37



Realized
to Date



$ 1,647,950,00
    87,617.87
    328,401,86
    4,822,25
    9,908,41
$2,078,700.39



Unrealized
Balance



$ 1,066,450.00
   40,000.00
   803,113.14
     4,822.25
     30,291.59
$ 1,944,676.98



$ 337,200.00  $ 192,785.18  $ 144,414.82
     93,414,00     88,883.75       4,530.25
 $ 430,614.00  $ 281,668.93  $ 148,945.07
 $4,453,991.37  $2,360,369.32  $2,093,622.05
    170,184.00    170,184.00
 $4,283,807.37  $2,190,185.32  $2,093,622.05
                  (51.1%)


 $ 376,550G00  $ 296,330,00  $   80,220.00
    310,852,21    154,376.60    156,475.61
    449,200.00    165,883,38    283,316.62
 $1,136,602.21  $ 616,589,98  $ 520,012,23
                  (54.2%)


 $ 406,050,00  $ 246,050.00  $ 160,000.00
 1,152,431,93   576,190.97     576,240,96
 $1,558,481.93  $ 822,240.97  $ 736,240,96
                    (52.8%)
 $ 6,978,891.51  $ 3,629,016.27  $3,349,875.24


Plant Fund

$ 170,184,00  $ 170,184.00
     32,599.00       3,932.40  $   28,666.60
 $ 202,783,00  $ 174,116.40  $   2 8, b 6 6660
                    (85o9 %)
 $7,181,674.51  $3,803, 132.67  $3,378,541.84
                    (53,0)  




 






               UniJversitv of Kentucky
STATEMENT OF DEP.ARTMENTAL APPROPRIATIONS
   For the Current Fiscal Period which began
   July 1, 1950 and ended November 30, 1950

                     General. Fund



Depart,
Approp,



Expendi-
tures



Encum-
brances



Division of College
Adm.& Gen.Expen:
Gen.AdmeOfcs.
Student welfare
Genera). expense
Subtotal



220 ,772.00
  7,318,00



$   84,653,11
     2,740.80



$



3,770.83  $ 132,348,06
              4,577.20



    81,816.00       23,1 76,68     11,416.47      47,222,85
$ 309,906.00   $ 110,570o59  $   15,187.30  $ 184,148,11
                           (40.6%6)



Instruction and Research,
College of -



Arts and Sciences$
Engineering
Commerce
Agriculture and
Home Ec,
Law
Education
Pharmacy
Graduate School
University Res,
Library
Univ. Extension
Other activities
Subtotal       $



1,357,79Z260
382,803,00
164,049,00



211,022.00
  64,204,91
  291,880.11
  82,654.92
  9,400o83
  Z3,000 00
  233,460.00
  12.2,708o00
  21,650.00
2,964,625.37



$ 485,523,30



$ 1



126,181,58
63,699,71

76, 922 .20
25, 346.9]
100, 684,98
23, 752,75
  4, 138,06
  4, 1 71,90
  74,973,o87
  34,148,38
  2, 682, 15
,022 ,2.25e82



$   36,362.86
    17,340.97
    1,064.37



$.  



  1,701,35
  959, 19
  6,537.22
  8,410,70
    73,48
  1,928.22
25,833.20
4,744,56
4,964,26
109,923.38



$ 835,906,44
  239,280.45
    99,284,92

    132,398.45
    37,898,78
    184,657,91
    50,491,47
    5, 189.29
    16,899.88
    132,652,93
    83,812,06
    14,003.59
$ 1,832,476,17



(38M.II



Operation and Maintenance
of Physical Plant, etc.
General approp, $ 691,3
Special approps,   70,0
Work in progress   25,0
General storesetc.  25,0
Surplus Property    2,2
Subtotal        $ 813.6



374.00
,00,00
00,00
00,00
50.00
24,00



$ 200,308,66  $
     4,831,84
     397,00*
     26,683,62*
     500,00
$ 178,559.88  $
           (32.5Tu)



82,772, 11
2,528.50



  750.00
86,050 ,61



$ 408,293.23
    62,639.66
    25,397,00
    51,683,6Z
    1,000,00
$ 549,013,51



Auxiliary Enterpri
Residence halls
Miscellaneous
Subtotal



.ses:



$ 292,773.00
   93,173,84



$   94,425.53
     8,766.81



$   41,548,63
    10.742.51



$ 156,798,84
    73 . 6 6 4. 52"



$385,946,84   $ 103,1912,34  $  52,291,14  $ 230,463.36
      =~~~~~~~~~~~~~ 4b-3.-



  Total-Colleges  $ 4,474, I02. 21

*Negative number



$ 1,414,548.63 $ 263,45Z.43
           (37.57.)



$2,796,101.15



Approp.
Balances



s :
Lse -



-




 






             University of Kentucky
STATEMENT OF DEPARTMENTAL APPROPRIATIONS
   For the Current Fiscal Period which began
   July 1, 1950 and ended November 30, 1950

                 General Fund



Depart.
Approp.



Expendi-
tures



Encum-
brances



Approp.
Balances



Agricuitural Experiment Station:



Administration   $
Agronomy
Animal Husbandry
Animal Pathology
Creamery License
Dairy
Dairy Cattle improve-
ment
Entomology & Botany
Farm Economics
Feed & Fertilizer
Rome economics
Horticulture
Markets & Rural Fin.
Poultry
Publications
Public Service Labs.
Regional research
Robinson Substation
Rural Sociology
Seed Stocks
West Ky.Substation
Library
Total-Agricultural
Experiment Station$ 1



150,301.00
186,822.00
74,490,00
59,050.00
12,000.00
43,335.00

15,000.00
76,270.00
57,685.00
140,000.00
17,100.00
41,980000
85,224.00
32, 728.00
28,247.17
33,050.00
10,325.00
22,400.00
32,242.00
7,000.00
40,400.00
2,000.00



.,167,649.17



31,109.21
69,721.83
34,950.77
24,781.25
4,562.98
17,471.87

4,798.15
27,939.56
21,662.42
30,021.94
5,484.43
16,611,94
27,926.89
12,354,54
5,444.07
11,573.40
3,071.94
7,628.Z9
13,408,84
2,849,98
12,680.96
  584.52



$ 386,639.78



$   14,593.08
     4,302.75
     4,315.16
     255,71
     493.62
     3,475.36

     2,288.58
     3,310.94

   22,798.88

      965.33

      1,933.52
      1,50Z.53
      366,08

    2,877.44


    9,184.38



$ 104,598.71
   112,797.42
   35,224.07
   34,013e04
     6,943,40
   22,387.77

     7,913.27
   45,019.50
   36,022.58
   87,179.18
   11,615.57
   24,402.73
   57,297.11
   18,439,94
   21,300.57
   21,110.52
     7,253.06
     11,894.27
     18,833.16
     4,150.02
     18,534.66
     1,415,48



$   72,663.36  $ 708,346.03



(39.376)




 







                Un-ivey-sity of Kentucky
STATEMENT OF DEPARTMENTAL APPROPRIATIONS
     For the Current Fiscal Period which began
     July 1, 1950 and ended November 30, 1950

                   General Fund



Depart.
Approp.



Expendi-
tures



Encum-
brances



Approp.
Balances



Agricultural Extension Division:



Administration



$



Agr. Engineering
Agronomy
Animal Husbandry
Clothing
County Agents
Dairy
Farm & Home Conven.
Farm Management
Forestry
Foods
Home Dem, Agents
Home Management
Horticulture
Junior Clubs
Markets
Poultry
Publications
Public Information
Rural Sociology
Miscellaneous
Total-Agricultural



Extension Div.



$Il



57,328,00
18,840.00
34,087.50
22 ,260.00
12,220.00
719,414.44
21,0 10.00
  1,500.00
  13,520.00
  5,780o00
  11,500.00
4312030.00
26,660.00
17,645.00
78,461.99
13,265.00
21,790.00
13,850,00
16,850.00
5,100.00
16,370.00



$  22.540e95
    9,112.43
    12,496.05
    9,415.23
    4,354.65
  299,135.11
    7,392.22

    6,078.68
    4,036.40
    4,247.42
    186,383,87
    10,196.32
    7,051o33
    30,933,47
    5,336.31
    7,413,94
    1,776c95
    7,447 .96
    2,138e51



$  34,787.05
    9,727.57
    21,591o45
    12,844077
    7,865.35
  420,279,33
    13,617.78
    1.500,00
    7,441.32
    11743,60
    7,252,58
  244"646.13
    16,463,68
    10,593,67
    47,528.52
    7,928,69
    14,376.06
    12 073.05
    9 402X04
    2,961o49
    16,370.00



,558,481.93 $ 637,487.80                  $ 920,994C13



Combined Total  $ 7,200,233.31



           (40.9 7)
$2,438,676.21  $ 336,115.79
          (38.5%.)



$ 4,425,441.31




 





          University of Kentucky
STATEMENT OF PLANT APPROPRIATIONS
For the Current Fiscal Period which began
Julv 1, 1950 and ended November 30, 1950

              Plant Funds



Dept.
Approp.



Expendi-
tures



Encum-
brances



Division of Colleges:
POW.A. First Bond
Issue            $   37,003.37
P.W.A. Second Bond
Issue                17,071.16
Dorm. Rev.Bond Issue  23,017,00
Audit-Fieldhouse Issue 103,053.50
Library & Service Bldg. 47,130.77
Bond Issue
Stadium Rev.Bond
Issue                23,630.50
Dorm.Issue-Rose St.    1,642.17
Journalism Bond Issue    744,45
Dicker House Annuity     363.01
Fieldhouse            31,761.36
Norwood Hall fire loss 15,911,25



bal,
Service Bldg.constr.
Fine Arts Bldg.
Dairy Center
Journalism
Dorm.Constr.-Rose
Street
Libr .& Sv.Bldg.
Clearance
Sprinkler System
Omicron Delta Kappa
Intr a-Mural
  Subtotal       $



122,20 7,96
  3,595.32
  2,030.44
268,627.36

74,500.00

  1,227.90
  2,550.00



$      66,18



$  36,937019



8,547.31
4,022.50
51,343.75
7,317,50



8,523.85
18,994.50
51,709.75
39,813.27



4,256.25
1,490,000
3,052.50
132.33



$    1,511.19



111 ,207,96



1,952,15
2,031L04



247,599.45



19,374.25
  152.17
2,308,05*
  230.68
30,250.17
15,911,25



11,000.00
1,643.17
     .60*
21,027,91



74,500.00



1,227.90



2,550.00



  4,,443.32                                   4,443,32
780,510.84  $  86,761,51  $ 434,818-60  $ 258,930,73
                        (6 6. 8% )



*Expenditures and encumbrances in excess of approp. or negative figure



Free
Balance




 




           University of Kentucky
STATEMENT OF PLANT APPROPRIATIONS
For the Current Fiscal Period which began
July 1, 1950 and ended November 30, 1950


               Plant Funds



Dept.
Approp.



Expendi-
tures



Encum-
brances



Agricultural Experiment Station:



Animal Path.Bldg.
Repairs & new
equipment
West Ky. Tobacco
barn
West Ky. Water
system
Agr. Engr. bldg.
Sheep barns
Brooder House
Miscellaneous
  Subtotal

  Combined
  Total



$



1,787.93



16,500.26



$     603.00  $    1,184,93



2,196.86



3,800.00



6,600.00
75,000 .00
2,500 .00
8,500.00



2,131.86



3,540 .00



6,400o00



12, 171.54

  26o.oo

  200 .00
75,000.00
2,500.00
8,500,00



   44200M00                         49A40      44g150.60
$ 158,888M19  $    2,196,86  $  12,724.26  $  143,967.07
                         (93.9%)

$ 939,399.03  $   88,958.37  $ 447,542.86  $ 402,897.80
                         (57.1%)



                University of Kentucky
STATEMENT OF OTHER FUND TRANSACTIONS
  For the Current Fiscal Period which began
  July 1, 1950 and ended November 30, 1950



Balance
July 1,1950



Receipts



Disburse-
ments



Balance
Nov. 30, 1950



Restricted Funds:
Div. of Colleges
Agr. Exp. Station
Agr. Ext. Division
   Subtotal

Loan Fund:
Principal
Income
   Subtotal

Endowment Funds:
Principal
Income
   Subtotal

Agency Funds:
Balances
   Combined Totals



$ 1,301,510.02
   98,89 1o2 1
   247,236.26



$ 548,907,45
    37,025,38
    50, 100 .90



$ 447,59 1 , 19
   48,163,03
   51,201.09



$1,402,826.28
   87,753.56
   246,136.07



$1,647,637.49  $ 636,033.73  $ 546,955,31  $ 1,736,715.91


$  56,297,61                                $   56,297.61
   20,923.96 $      525.49                     21,449.45
$  77,221.57  $      525'49                 $   77,747.06


$  198,428,18 $    1,000.00                 $  199,428,18
    2,298.60        110.75  $       53c55       2,355.80
$ 200,726.78  $    1,110.75  $       53,55  $ 201,783,98


$  80,627.42  $  136,993,73  $  152,828.38  $  64,792.77
$2,006,213.26  $774,663.70   $ 699,837.24  $2,081,039.7Z



Free
Balance




 





                Ur.ivers.etv oyi' Kentuc kv
STATEMENT OF STATE AND FEDERAL ALLOTMENTS
      For the Currer.t Fiscatl Period which began
      July 1, 1950 and e-.ded November 30, 1950



                 Allotted
                 to Date

Division of Colleges



Expend. -
tur e s



Encum-
brances



State Allotments:
Current year
Prior years
Total

Revolving Funds:
  Current year
  Prior yearzs
  Total



$ -?,647,950.00
    0 ,0 70.94



$ 1,186, 19385



$  41,865. 19
    10,0 70094



$ 419,890o96



$ 1,658,020,94  $  ,186,193.85  $  51,936013  $ 419,890.96



$ 1,727,381.67  $ 307,R143,89  $ 553,873 41  $ 866,364.37
   192y,277,04                    84,90 1 ,0 7  10 7,37509 7
$ ,9.19,658,71  $ 307,1)943.-8 $ 638,774,48  $ 937,740.34



Agricultural Experiment Station



State Allotments:
Current yea7
Prior years
Total



Federal Allotment
Current year
Prior years
Total


Revolving Funds:
Current year
Prior years
Total



$  296,33000
      ,621,233



$ 117,438,11



$



1,834,94
1,621.23



$  177,056,95



$ 297,951,o23   $  ! 17,438.11  $   3,456,17  $  177,056.95



5 I



.154,376.60
1 1,281,34



$ 122,358,87



$   32,017,73
    11,281,34



$ 165,b57.94    $ 122,3 5 8,87               $   43,299O7



$ 569,695.39   $ 149,039.66   $   60,902.92  $ 359,752.81
   22,590,51                      22,590,51
$ 592,285,90   $ 149,039,66   $   83,493,43  $ 359,752.81



Agricultural Extension Divisionrx



State Allotments:
Current year
P-rior years
'rotal



$ 246,050OO



$ 161,760,72



$   84,289.28



$ 246,050,00    $  161,760O7-                 $   84,289n28



576,190,97
  3,L4981



$ 475,727,08



$ 100,463,89
     3,249,81



$ 579,440,78    $ 475,717.08                  $ 103,713,70



Free
Balance



Federal Allotmentr
Current year
Prior years
Total



,50  




 





                          University of Kentucky
       STATEMENT OF COMBINED RECEIPTS AND EXPENDITURES
                 For the Current Fiscal Period which began
                 July 1, 1950 and ended November 30, 1950

Receipts and Transfers:



General income
Plant income
Restricted receipts
Loan fund receipts
Endowment fund receipts
Agency fund receipts



$ 3,629,01627
   174,116.40
   636,033.73
      525.49
      1,110.75
   136,993.73



Total Receipts



$4,577,796.37



Expenditures and Transfers (Including Encumbrances):



General fund expenditures
Plant fund expenditures
Restricted fund expenditures
Loan fund expenditures
Endowment fund expenditures
Agency fund expenditures



$ 2,774,792.00
   536,501.23
   546,955,31

       53.55
   152,828.38



Total Expenditures



$4,011,130.47




 







15



     The balance sheet and financial statements were examined and,
after due consideration, motion was made, seconded and carried that
the report be received and made a part of the minutes.


     D. Annual Report of the Comptroller.

     The Secretary distributed to members of the Board copies of
the annual report of the Comptroller for the year ended June 30, 1950.
He urged that the report be carefully studied, and emphasized vari-
ous exhibits and schedules as being of particular interest.

     The report was received, and authorized released.



     E. Report of the President

Salary Adjustment for Employees of the University

     President Donovan made the following statement to members of
the Board with reference to his recommendation for salary increases
for members of the staff.


        Last April when the budget of the University of Kentucky
     was presented to the Board of Trustees for its considera-
     tion very few salary increases could be made because it ap-
     peared that the funds available for the operation and main-
     tenance of the University for the current year would not
     permit any such increases.    It has been a year and a half
     since there was any general increase in the salaries of the
     staff members of the University, and at that time not all the
     personnel received increases.

        The reason why we were unable to make any salary adjust-
    ments last April was partially because the Veterans Admin-
    istration had some months earlier decided that the Morrill-
    Nelson and Bankhead-Jones funds for the further endowment
    of the land-grant colleges could not be included in figuring
    the cost of instruction for the G.I.'s.    This decision  on
    the part of the Veterans Administration cost the University
    between $350,000 and $400,000.

       It is now a matter of history that the Association of
    Land-Grant Colleges and Universities took this matter to the
    Congress of the United States and asked that the G. I. Bill
    of Rights be amended to force the Veterans Administration to
    restore the funds which it had withheld from us.     By vote




 










of 245 to 101 in the House and by a unanimous vote in the Sen-
ate, Public Law 571 was passed by the Congress in June, restor-
ing to the institutions the Morrill-Nelson and the Bankhead-
Jones funds which the Veterans Administration had appropriat-
ed for its own credit.  This action by the Congress not only
restored our endowment funds but established the principle
that these funds are for the further endowment of the institu-
tions and therefore inviolate.

     For five years I have been Chairman of the Joint Committee
on Veterans Affairs of the Association of Land-Grant Colleges
and Universities and the National Association of State Univer-
sities.  Our committee made a desperate fight to keep the
Veterans Administration from capturing these funds and it per-
suaded the Association of Land-Grant Colleges and Universities
and the National Association of State Universities to lead the
fight to get Congress to enact legislation requiring the Vet-
erans Administration to respect the inviolable character of
these funds.   While there were many persons and institutions
playing a prominent part in this controversy, the initiative
originated in our committee, and I think I am justified in say-
ing that if this committee had not persisted in keeping this
issue before the associations, the universities involved would
have lost these funds.

     Now that these funds are being restored I have the def-
inite conviction that they in reality belong to the faculty,
staff, and other employees of the University.    If they had
not been withheld from the University of Kentucky, salary in-
creases would have been recommended heretofore and I feel
reasonably certain that the Board of Trustees would have ap-
proved that recommendation.   Since these funds, amounting to
from $350,000 to $400,000, will presently be restored to the
University, I am presenting to you today a recommendation that
all full-time employees, including deans, professors, associate
professors, assistant professors, instructors, secretaries,
clerks, technicians and other administrative officers (except
the President of the University) be given a seven and a half
per cent increase in their present salaries, effective December
1, and that the campus labor be given wage increases of from
four to twelve cents per hour.   The variabion in the hourly
rate is for the purpose of ironing out inequalities that may
have heretofore existed in the wage scale.   This increase does
not apply to those holding scholarships, fellowships, assistants
ships, or temporary part-time instructors.

     In making a recommendation involving such a large sum of
money, I feel that the Board of Trustees is entitled to inform-
ation that would justify such action.   Therefore, I wish to
present what I regard as convincing evidence that this recom-
mendation should be approved.




 










Salaries at the University of Kentucky
and at Comparable Institutions-

      Two salary studies are available which seem to provide a
 reasonably fair basis of comparison.

      1. A survey of salaries paid in 51 land-grant colleges
         and universities in l9T9-*- WOe can be reasonably
         certain that the salaries for 1950-51 would be some-
         what higher than those reported for 1949-50, but we
         can only guess as to how much higher.   In this study
         the report separates those staff members employed on
         the basis of the regular school year from those em-
         ployed on an 11 or 12-months' basis.   Since prac-
         tically all salaries at the University of Kentucky
         are reported on a 12-months' basis, we must make a
         comparison in this study with either the latter fig-
         ures or convert the former to a 12-months' basis.
         Neither comparison is quite fair.   It is a known
         fact that, in those situations where staff members
         in relatively large numbers are employed on both
         bases, the salaries of those on 12-months' employ-
         ment are not as a rule as high proportionately as are
         the salaries of those on a regular-school-year or
         10-months' basis.  On the other hand, an accurate
         comparison is not necessarily obtained by adding two-
         tenths to the average salary for the regular school
         year.   This assumes that all have the advantage of
         twelve months of employment, which is not true; and
         it erroneously assumes also that the institution pay-
         ing on a 10-months' basis would automatically add two-
         tenths to each salary if it changed to a 12-months'
         basis.

     2. The second source of information is a survey of sala-
        ries f or 7the curreiiE year '(l1950-5TT in 21 state univer-
        sities.**  Since''all salary averages are reported on
        the Basis of the regular school year, comparisons with
        the University of Kentucky can be made only by convert-
        ing these averages to a 12-months' basis. This proceed-
        ing injects into the data the possible errors mentioned
        above.
     With the above limitations in mind, the following comparisons
are made:

*Federal Security Agency, Office of Education. Preliminary statis-
  tics of Land-Grant Colleges and Universities. NVoEvebemr     19-?0.
**This study was made by the University of Texas and, in addition to
  that institution, covers the following: Arkansas, California (Berke-
  ley), Colorado, Florida, Georgia, Illinois, Indiana, Kansas, Lou-
  isiana, Michigan, Minnesota, Missouri, North Carolina, Ohio State,
  Oklahoma, Oregon, Purdue, Tennessee, Washington and Wisconsin.




 










TABLE I



                        Instructor Assistan