 | Board of Visitors minutes September 26, 1941 |  |
BUDGET 1941-42-REVISION.
The President presented to the Board a revised estimate of income from student fees and
rents for the Session 1941-42. This estimate shows a decrease of $37,916.50 below the estimated
receipts from these sources set up in the tentative Budget, approved by the Board in June, 1941.
The estimated decrease of $1,485 in the Student Health Service; $1,457.50 in Athletic
Fees, and $198 in College Topics receipts, will be cared for by a corresponding reduction in expenditures
under these three items, which total $3,140.50.
This leaves a net decrease to be cared for in the total sum of $34,776.
The President further explained that the substitutions for employees who have been granted
leaves of absence for government service, or who have died since June, 1941, represented a decrease
in our proposed expenditures of $26,000. This sum, together with the estimated surplus on the Budget
adopted in June, leaves the Budget in a balanced condition. It was thereupon
RESOLVED, by the Board of Visitors of the Rector and Visitors of the University
of Virginia that the tentative Budget approved in June be declared to be the Budget of
the University for the Session 1941-42, after making the decreases in expenditures in
the Student Health Service, Intercollegiate Athletics, and College Topics, referred to
in the Preamble to this Resolution.
RESOLVED, FURTHER, that the President be and he is authorized and directed to
re-cast the fiscal situation of the University as of January 1, 1942, and if at that time
he finds that the University will have a deficit in Operating Expenses for the current
year, he is authorized and directed to request the Legislature of Virginia to make a deficit
appropriation to cover this item.
| Board of Visitors minutes September 26, 1941 | |