UA-R-GC-1914-01-01-1956-06-29_Page-008

Board-656, p.7 31.. 1::TCESS .r OR DII:1YER The Board of Trustees adjourned at. 6 p.m. for dinner. 832. BOARD R'ECOTtiErED At 8:30 p.m. the Board reconvened, with Dr. Horton in the chair, opening the meeting with prryer. i Dr. McLain reported that 1e has been meeting with officers of the Ford :ë'oundation in Beirut an61 in New York. The Univer-sity's request did not come before their Board last winter but was scheduled on their agenda in mid-May; this meeting was postponed until the middle of June. On stopping in Beirut en route to America, Dr. McLain was given word that action on our request had been postponed until October. With further time to go over the request, the program has been changed somewhat and a considerable amount has been added to the original re-quest. Officers of the. Foundation are hopeful that we will re-ce ive a favorable reply when the matter is considered. The present Request here presented is centered around the quali-tative ttevelopment of personnel and program of the University. Mips Lister, Comptroller, presented financial statements show-ing the budget, in Cairo and Yew York, (aside from auxiliary enterprises, etc.) for 1955-56 on a twelve-month basis of $218,639.74. Of this amount $16L, 6óf0 r s i y well as-sured by August 31st, leavingg n net bnle è7idf 1Y to be se-cured. Dr. McLain is optimistic that this amount can be se-cured during the summer months and that will be his major responsibility while in America. His itinerary for July and August was discussed and several trustees offered cooperation. in arranging contacts for him. Statement of increase in the Cairo open zti.ons to include budget to August 31st was read and explained by Dr. McLain„ Action was taken on paragraph 5 of item XVI on the Agenda as follows; THAT an account be opened in the name of The American Univer-sity at Cairo in the Cairo branch of the First ITational City Bank of Yew York to facilitate transfer of funds, and THAT the secretary furnish to the bank the necessary resolu-tions required by the rules of the bank, covering nature of the- account, officers to sign. for the University, etc. Upon motion, duly seconded, this action was voted. 033. . REVES T TO THE FORD FOUiTDILl' I OTT 834. li.2PORT Or BL:? S.:~R AITD COM1P' T ROL1E :