UA-R-GC-1914-01-01-1954-11-12_Page-005

1 Board, 145+, p.3 758. REPORT OF Report of the Finance Committee was submitted (pp.15-17) by FINANCE Mr. Harbison, deleting from the last paragraph on page 15 all COMMITTEE but the first sentence. It was suggested that the bookkeep-ing methods and the form of statements be reviewed to discover if other forms might set forth more clearly the position of the University both at home and abroad. Mr. Madison explained that the nursar had done this in connection with his studies at Columbia. University last year and was experl.menting with a combined balance sheet t'iat might give the desired information. It was suggos to  by Mr. .'leyerhaeuser that the current market value cf s ec-.N i :: ies an& proper ty be given on future balance sheets or on accompanying schedules. Recommendations ;;1, 3, and 4 through 8 were approved as fol-lows: THAT the budget fcr 1954-55 be approved as follows: Required for Cairo 3Ldget $ 135,810 Budget for expenses in U S A 43,280 Total Budget recuireme_its $ 179,090 Estimate for Subt;rbar, Property Maintenance Account 3,000 Total required for 1954-55 . $ 182,090 THAT, on recommendation of Council, Professor Marcel Kiven be given in \principle the same retirement benefits as would have accrued to him \under the American (Sun Life) plan, either on sole-survivor or joint-survivor basis. TEAT the audit of the Treasurer's accounts for 1953`54 by Peat, Marwick Mitchell and Company, certified public accountants of Philadelphia, be approved and filed. THAT the report of the Bursar for 1953-54 which was audited by Price, Waterhouse, Peat and Co., certified public accountants of Cairo, Egypt, be approved and filed. THAT Peat, Marwick, Mitchell and Company, certified public accountants of Philadelphia, be appointed to audit the Treasurer's accounts for 1954_55 THAT Price, Waterhouse, Peat and Company, certified public accountants of Cairo, be appointed to audi c the Bursar's accounts for 1954--55. TEAT the standing agreement between the Trustee:- of the William E, Con-roy Estate and the Trustees of The American University at Cairo be ratified as a continuing commitment of the University.