UA-R-GC-1914-01-01-1975-05-22_Page-002

I I I -2- the levels of funding from ASHA to AUC are necessarily in doubt. Mr. Costantino, Director of ASHA, has indicated that the outlook is not particularly bright and that AUC should not budget on the basis of receiving the levels of dollars and pounds that we have become accustomed to. The question of release by AID of the remainder of the LE endowment fund for investment is still undetermined, Mr. O'Connor said. The uncertainty is partly due to concern in the U.S. govern­ment over the reaction by the Egyptian government to releasing the entire remainder of the fund (approximately LE 17 million). President Byrd explained that the budget for the coming year has taken these uncertainties into account and is therefore lean. The President then described various measures which have been introduced to save Egyptian pounds, such as reduction of the University subsidy of the Division of Public Service, Food Ser­vices, and the Bookstore. 5. Dollar Endowment Portfolio, Performance and Commission Charges - In Mr. McCloy's absence in the hospital, Mr. O'Connor reported that the AUC Endowment portfolio had a market value of $1,884,000 as of March 31st. On May 22nd the value was $1,963,000, an,lincrease of 4.2%. Common stocks make up 49% of the portfolio and this segment increased by 8.1% during the same period