UA-R-GC-1914-01-01-1977-10-26_Page-011

r Income from dollar endowment has risen from $185,000 to $215,000 due to the turning over to such endowment of $400,000 in quasi endowment funds previously kept separate. The item of $926,334 shown as income from Management Extension Services was discussed and Dr. Stevens stated that although about $400,000 is dependent upon an oral contract with Libya, he believes that this amount can be counted upon. In addition to the sources of income stated in the budget, the following additional items should be taken into account: (1) LE 270,000 of interest on money belonging to the Pound Endowment Fund, which is currently deposited in the name of the University in a bank account, could be made available to the University should AID and the Trustees so approve. (2) A grant of $1,900,000 from AID for a new inter­departmental rural health project extending over the next three years. (3) A new grant from HEW for $212,000, payable in LE to study the Egyptian Social Security Support System for widows. On the expense side, faculty housing shown on the Budget at LE 267,000, is expected to increase by LE 83,000 due to a change in the Egyptian housing law and market. In addition, due to the same circumstances, the rent on the present girls' hostel will increase by LE 37,000. It was also noted that a commitment had been rnade by the former President to rebuild the theater that was partially destroyed by the library fire. This item will add LE 58,000 to the Budget. - 2