 | Board of Visitors minutes February 13, 1953 |  |
THE BURSAR'S FUND
Mr. Gay, Chairman of the Finance Committee, reported that the Bursar's Fund, which contains
investments of current funds, had grown from $295,000 in March, 1947, to approximately
$2,000,000. He stated that the Finance Committee had considered this matter and recommended the
adoption of the following resolution.
RESOLVED, that in regard to securities held by the Bursar in the current cash account,
the Bursar, with the concurrence of the President, shall have authority to sell these securities
and to purchase other securities for the account, whose maturities are not longer than one year
from the date of purchase. Where purchases of securities with maturities at more distant dates
than a year from the date of purchase are made, the concurrence of the Finance Committee of the
Board is required
| Board of Visitors minutes February 13, 1953 | |