UA-R-GC-1914-01-01-1971-06-15_Page-007

, , I 7 asked, but in view of the "condition" mentioned by Mr. Costantino, the pound part of the Budget will have to be revised. In concluding his comments about the Projected Budget for next year, Mr. Thoron said that he anticipated that the dollar deficit will be offset by new dollar income and said that we "have an optimistic picture for next year." The pessimistic picture, he said, is that of this year . Both in terms of budget and cash flow we are in serious trouble- -Mr. Crnic says that we need an additional $100,000 by August. There is a possibility of an advance on next year's dollars from AID, said Mr. Thoron; however, AID normally operates on the basis of reimbursement rather than advances. Mr. Thoron explained that we have a deficit because our dollar expendi­tures this year have been predicated upon the receipt of a $100,000 gift from Mrs. Wallace and that so far this has not materialized . Mr. Payne said that no reason had been given for the absence of a gift so far this year. Mr. Thoron predicted that the University will receive $10,000 from Mobil Oil and from Esso and thinks that this might lead to an ARAMCO gift. A request for $20,000 has been submitted to Standard Oil (Indiana) Foun­dation and we should have some response shortly after their Board meeting in early July, he said. Philips Petroleum "doesn't give to anyone" said Mr. Thoron and he noted that he needs to do more work with Philips in the U.A.R. Turning to specific items in the Budget, Dean Hoelscher asked why there had been a substantial increase in "Instruction and Research" on Page 2. Mr. Thoron replied that these continue to be items that are sep­arately funded and noted that, similarly, elsewhere in the Budget major chunks of the increase for next year occur in such independantly funde