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Finance Committee - 5 K;a4 t 1 22. THAT borrowings of $25,000 a year from the Buildin s Fund for general current expenses be discontinued and action taken by the Finance Committee on March 21, 1915, approving the Buildings Campaign goal which included $25,000 annually during the campaign for current expenses, be rescinded; that the $50,000 so borrowed during the past two years be credited to the Buildings Fund and charged to the budgets for current expenses of those two years, together with interest on these loans, until such time as action can be taken by the Finance Committee to wipe out this 41;50,000 debt; that in pursuance of the action taken by the Finance Committee at its last meeting emphasizing the need for concentrating on current expenses; it is hoped that some advance may be made incidentally along the line of the Buildings Fund; and that the Chairman of the Finance Committee at his dis-cretion write a personal note to Dr. Watson, reflecting the thought of the Committee and giving assurance of the intention to keep the Buildings Fund alive. 23. The Committee considered Dr. Badeau's proposal that John Rizk be appointed Director of the Division of Extension, succeeding Dr. Cleland. It was voted THAT, subject to the appointment of Mr. Rizk by the Committee on Education and the Board of Trustees, the increases in salary and allow-ances for Mr. Rizk be approved as set forth in Dr. Badeau's letter of October 14, 1947, as follows: THAT Tier. Rizk's basic salary shall be the same as Dr. Boktor's, to be reached by a series of successive increases over a period of five years; THAT Mr. Rizk be given the usual children's allowance but not the educational allowance, with the understanding that a special allowance determined by the cost of Egyptian schools might be provided if found necessary; THAT no furlough schedule be set up but that, by personal arrangement, Mr. Rizk be given one year's leave of absence with-in the next five years to complete his F h. D. training in the United States; THAT, on his approaching visit to Egypt, Dr. F. M. Potter officially notify Mr. Rizk of this action. 24. THAT the Executive Secretary and his wife visit the University, at minimum expense te A.U.C. for adequate acommodations, for the purpose of gaining personal acquaintance and inspiration, of studying the questions and problems of new construction (if possible with Dr. Potter at the time of his visit), and in order to bring back materials and information for use in promotion in America, the trip to include brief, visits to other colleges in the Near East, if feasible. 25. THAT Mr. Don C. Shumaker continue with the Board beyond his present two-year term that expires December 4, 1947, until the Executive Secretary returns from his forthcoming trip to Cairo; and that Mr. Shumaker serve as Acting Secretary during the Executive Secretary's absence; THAT in making payments lair. Ward N. Tvadison, Executive Secretary, or in his absence, Mr. Don C. Shumaker as Acting Secretary, shall certify that a given order for payment is legitimately within the annual budget or some special budget approved by the Finance Committee. Upon such certification, the Treasurer is authorized to make payment. 26. Actions by the Committee on the following matters were presented to the Board for circular vote and were approved as reported