University of Virginia Library

DEFICIT OF THE DEPARTMENT OF ATHLETICS

The President reported on the need for the Board to authorize a deficit not to exceed $47,500
for the Department of Athletics for the fiscal year ending on 30 June 1964. During his report he
noted the improvements in the financial condition of the Department that had occurred during the
current fiscal year. He stated further that the deficit authorization had been approved for submission
to the full Board by the Finance Committee and the Athletics Committee at a joint meeting
on 17 April 1964.

The following resolution was adopted:

RESOLVED by the Board of Visitors of The Rector and Visitors of the University of Virginia that
the President be and he is hereby authorized to incur a deficit not to exceed $47,500 for the
Department of Athletics for the fiscal year ending on 30 June 1964.