UA-R-GC-1914-01-01-1961-08-15_Page-085

.3) The grants are $5',283 for Faculty Salar.v Aid and some tl2,000 for Scholarships out of a possible ~, 857 for this latter purpose. Only' this 8Jl811 portion of the scholarship grant _s used because of lateness in securing f'iml clearance from the U.S. Government. '!be reua1nder will be carried into next year. 4) It is to be noted that the budget carries an expenditure of $35,000 in dollars on the re}:eyment of the University's loan. The real deficit anticipated, therefore, is in the amount of $85,503. In actual operation the University will be }:eying the deficit out of capital .funds reoeived fran the sale of the rural property in Egypt, even whUe reducing the dollAr debt by the amount indicated. 5} Deducts the previous year's 185,000 Ford FOWldation senera1 grant; adds anticip.ted Fo~ grant of &35,000 for University Professors'program. Increased amount to be raised tran general gift sources; tram 11.50,000 (as in 1960-61) to $250,000 in 1961-62. It should not be unreasonable to expect this increase of «L00,000 in geneI81 giving. 6) Deducts $9,2$6 from the 1960..61 figure, as speoial grants tor Creswell and Kessler come to an end in 1960..61. Adds $16,429 in anticip.t1on of new restricted items. 7} ibis item is the seoond year for the 1960 three-year grant tmards Faculty Salar.v Aid and Student Scholarships. (See note 3, above) 8) Of this item $l..38,000 i8 for the first year of the 1961 'three-year grant to1erds Faculty SBlar.v Aid; $50,000 is for the purchase of books (a dollar grant through lOA .. ) (Further note: Since this table las prepLred, confirrration has been received from lCA that $30,000 has ~een g18nted, instead of the $50,000 as hoped for.) 9) The under.cutting w.Ul probablJr be this large since the budget ot expenditures anticipates a quicker buUdo-up of staff under the Deve10puent Program than the l1nlversity will actuall.y be able to achieve. 10) ibis amot1ft is the third and last year (except tor possible carry-over ot SoDle $25,000 of the portion of the 1960 g18nt set aside tor Faculty salary Aid and student Scholarships. 11) tis is the second year ot the 1961 grant in the total amount of $41..4,000 for staft aid purposes. (Entire grant \tAs tor $500,000, but 886,000 was for building construction.) 12) This is the first and only year ot the new 1962 grant in the total amount of $130,000 tor both Faculty Aid and Student Scholarships. (ihe 1962 &lDOWlt being snail, it is not divided into a three-year spread, as in tormer grants and in the ones to follow in future years.) 1.3) See note #9; notice that a smaller under-cutting is anticiJ8ted. As the program and statf become stabilized, the "under-cutting" will diminish, and f'iral.ly <lisa ppear. \ 14) Modest increases in income trom endoNDent are indicated. It J8st results are aI\Y oriterion, this moo ot an increase coul.d be anticiJ8ted from the natural growth ot the endo1mlent fund. However, as wJll be dealt with later in this statement, the University met nake a specific effort t018rds the building of endo1lD8r1t funds