UA-R-GC-1914-01-01-1925-11-13_Page-038

Appendix B. November 1, 1925. ~' ~O~RR° ~) REPORT OF THE FINANCE COJMITTEE OF THE AMERICAN UNIVERSITY AT CAIRO For the Year 1924-2_5. Meetings held: Three meetings of the Committee have been held since the Trustees' meeting of 1924: one on May 13, 1925, one on October 13, 1925, and another on November 13, 1925; all of them in Pittsburgh, Pa. The principal items of business transacted by the Committee are given in the following summary: $10,000 from the Harbison Estate toward Endovtiment brings the Endowment Fund from $150 of two years ago, to $95,264.68 at the present time. $10,000 toward the Current Budget from the Estate of Col. J. B. Finley, whose executors are Mr. Joseph A. Herron of Monongahela, and Dr. William O. Campbell of Sewickley. $100,000from an anonymous donor for a University auditorium. $2,500 from Dr. ard Mrs. Hill for special scholarships to help needy students. $500 from an anonymous donor as a special gift to help needy students. $1,200 from the wives of the Trustees for establishing child welfare work as a part of the University Extension Department. 200 books from the Misses Comes and the Good Neighbors Club of West Philadelphia. Budget: At its May meeting, the Committee voted that $95,000 was the maximum amount that could be raised for the 1925-26 Budget, $84,000 for the Cairo account and $11,000 for the Philadelphia account. The Budget was revised and presented at the uctober meeting of the Committee and showed a total of $94,790; the details of this budget are given in Appendix B-(4) . Investment Account: In order that the members of the Finance Committee may watch carefully the securities held by the University, it was decided that a full list of these securities be sent to the Finance Committee twice each year and that such suggestions and criticisms as each member deems advisable, be returned to the Secretary. A full report of the securities is found in Appendix B-(3) . Special Grant to Mr. Armstrong: It vas voted to grant Mr. Armstrong, a short term teacher, B.E.12, the full amount of medical expenses incurred in connection with treatment for trachoma, it being understood that this is an exceptional case and in no way sets a precedent for similar allowances to short term teachers in the future. PURCHASE OF SUBURBAN SITE: The purchase of approximately forty-seven acres of land for a suburban site was announced. It is important that no publicity be given to this purchase because if the inforruvtion got abroad in Egypt that Americans were buying property, the values would double or treble. The net cost of this land was approximately $47,480 or $1,075 per acre. An agreeL„en