University of Virginia Library

CHARGE-OFF OF OLD STUDENT LOAN

The Chancellor reported that in April 1958 he had submitted to the Board a list of loans from
the State Student Loan Fund which were uncollectible and had received authority from the Board to
charge-off these loans. One loan, he reported, through oversight was not included in the list.
The Auditor of Public Accounts in his annual examination of the College's records had suggested
that the loan should be charged off. The Chancellor stated that the date of the note was 9 April
1935 in the original amount of $33.34. The unpaid principal of the note at this time amounts to
$13.23. The note was signed by Ann Crute who resided at the time of the loan in Baskerville,
Virginia. Since repeated efforts have been made to collect this loan without success, the Chancellor
recommended that the note be charged off as uncollectible in accordance with the terms prescribed
in the State Appropriation Act

The following resolution was adopted

RESOLVED by the Board of Visitors of The Rector and Visitors of the University of Virginia that
Mary Washington College of the University of Virginia be and is hereby authorized, subject to the
written approval of the Governor, to charge-off as uncollectible a note from the State Student Loan
Fund signed by Ann Crute, dated 9 April 1935, with a principal balance of $13.23.