UA-R-GC-1914-01-01-1981-02-04_Page-003

~. ·1 -3- Finance Committee and it was agreed that some of the projected improvements might have to be postponed until financial year 1981/82 unless budgetary conditions permitted otherwise . 3. Girls Hostel: Mr . Snaith reported to the Committee that the lease on the Girls Hostel in Zamalek had been renewed until end of August 1984; however, the cost to the University of the lease had increased by 50%. 4. Faculty Housing: Mr. Snaith reviewed with the Committee the report on the proposed construction of an apartment building of 5 floors containing 16 3-bedroom units at an estimated construction cost of LE 1 , 5 million . He noted that the building, when completed, should save the Univer­sity not less then LE 150,000 in annual rental outgoings . The Committee agreed to recommend implementation of this project to both the Executive and Finance Committees and to have the Finance Committee approve transfer to the Plant Fund of LE 223 , 000 and $350,000, and to have appropriately redesignated LE 365, 364 of I general purpose contruction funds within the Plant Fund to provide the necessary funding base , The Committee approved the suggestion of Eng . Fahmy as architect for the building and approved Mr . Snaith's suggestion that a con ­struction consultant be retained to review Eng . Fahmy's drawings for cost effectiveness, to select a list of pre-qualified contractors, to prepare and analyze tender documents and bids received , and to assist in monitoring during the construction pha s e . Meeting Adjourned