UA-R-GC-1914-01-01-1957-03-08_Page-069

Emerg Fin - 2 and various physical improvements (rewiring, painting, etc.) were made in the Uni-versity buildings. This increased the budget over that of last year by approxi-mately $80,000. The recent developments in the area have caused some of the American-Middle East businesses to move from Egypt; some have moved their main Middle East offices to other countrirs; many have reduced the size of their op.,r^tions and many are doubtful of their own future. This results in the likelihood of little support from this source for the current fiscal year. The anticipated loss (from the $100,000 originally expected from this source) is appoxim Itely $75 , 000. 5. At least two, and possibly three or four of the terchers brought to the University this rast September on a three-year basis will be leaving at the end of the year, because of the generally prevailing circumstances. They will need to be replaced by the University. Finding a teacher, securing him, transporting him and his family and his furniture costs the University an estimated average of $5,000 per teaching post. This circumstance therefore involves the University in an expenditure of at least $15,000 that it had not anticip^ted. 6. A further item of economic significance for the University, although it will not affect the budget of this current year, is that action upon a recuest for extensive permanent fund support has been delayed by the unsettled conditions in the Middle East. The University had placed this recuest for support (which it was agreeing to match with funds secured by its own efforts) before a major Founda-tion some months ago, and the Foundation Board was scheduled to consider the re-quest in early December. The officers of the Foundation decided to defer considera-tion because of conditions then prevailing. 7. A recapitulation of the above items indicates the extent of direct loss funds the University is suffering because of the emergency: Direct evacuation costs $15,000 Reduced enrollment losses 27,000 Loss from American-Middle East business 75,000 Loss through personnel replacement 15,000 Total less for current year $132,000 Beyond this direct loss it is probable that some loss in receipts from general contributors in America will be suffered. 8. Against this direct economic loss is to be set the unprecedented oppor-tunities cf the University. Some of the opportunities arise from the program de-velopments of the past several years, and some from the current situation in Egypt and the Middle Fast. A. Program developments include a greatly enriched curriculum of studies; a much improved and somewhat increased teaching staff; a higher level of admissions to the University and more rigorous standards of advancement from class to class, and ')f graduation; a coordination of the program of all the units of the University o