UA-R-GC-1914-01-01-1978-05-11_Page-020

-2- On recommendation of President Pedersen, the Committee approved the additional dollar expense of $84,265 which represents a 10% salary increase to maintain the competitive position of the University. It is understood that the present relative differential between salaries of foreign and Egyptian faculty will be maintained. With this change, the dollar deficit will be $359,658. As to the pound side, the budgeted amount from AID has been increased LE 140,000 to provide for higher operating costs, including salary increases. The amount expected from tuition and fees is almost 50% higher than last year due to an expanded AID financed intensive English language training program and an increase in fees charged by the Division of Public Services. As to expenses there are no significant increases other than the 10% salary increase and an addition of LE 14,451 resulting from a revised retirement plan for Egyptian faculty approved by the Committee on recommendation of President Pedersen. This budget will show a surplus of LE 349,290. George P. Bickfor