UA-R-GC-1914-01-01-1950-11-24_Page-018

1 154-(' As is normal when excess income from exp ,nd~! ng enrollment is received, ex-penscs also exceeded the budgeted figure. The na t ;.n' rease in ?xpena itt r, •i s L.E.677.605, which figure does not take into account the payment of L2.3 9.017 for interest on local loans. `her this figure is added, the income exceeded ex-penditure by L.ÿ.2310.880, or $6932.64, which suri,lus has been returned to the Trustees. .n analysis of expenditure shoos that the largest single item above the budget is found in the School of Oriental Studies. Although tuition fees exceed-ed expectation, they were not enough to absorb the additional expense ana. the de-partment finisned the year with slightly over L.E.150 of uncovered expenditure. The reason for this unsatisfactory operation was principally due to a new type of teacher's contract substituting mcnthly lessons for a required yearly minimum number of lessons. A new contract for 1930-51 has been negotiated which abandons this principle and returns to a system whereby the balancing of the salary budget will always be assured from student fees. Special mention must be made of the economy of operation in the Division of Extension and the Faculty of Arts and Sciences. Both of these departments had extra burdens to meet because of increased enrollment and programs, yet the Di-vision of Extension saved slightly more than L.E.100 on expenditure and the Facul-ty of Arts and Sciences only spent L.E.18 more than the budget called for. The reasons for this excellent record are (a) unprecedented enrollments in-creasing budgeted income, (b) some savings in personnel, (c) great care in the ad-ministration of the budget. In addition, the devaluation of Egyptian currercy pro-dueed. nearly L.E.1000 in exchange gains. to It is notAexpected that this record can be repeated annually. The ideal budget is one which so accurately predicts income and expenditure that no profit or loss accrues throughout the year. Attention is drawn to the effect of devaluation on accounts owed by the Trustees to the University operations in the field. Many of these accounts repre-sent dollar items of expenditure although they are carried on the Cairo books in gyptian pounds. The Bursar and President therefore diagnosed each account as to its original source and ultimate use and have suggested that some of the surplus current income be used to alter the pound balances owed by the Trustees to the Uni-versity. An additional item of expense that might well be absorbed from the bal-ance of the 1949-50 budget is the cost of the President's trip to the United States last spring. In view of the financial needs of the institution, several consultations have been held with departmental heads as to the possibility of increasing tuition fees. Charges for lessons in the School of Oriental Studies will be increased dur-ing 1950-51 but it is suggested that no further increase in the tuition of other departments be made until the building project is well under way. The reason for this is that, under present crowded conditions and with the competition of free gov-ernment education, the University needs some evident reason for requiring higher payment by the students. With the erection of new buildings and the providing of more modern and commodious quarters, it will probably be possible to increase fees by a considerable figure