Proceedings of the Board of Regents (1963-1966)

April Meeting, 1964
THE UNIVERSITY OF MICHIGAN
ANN ARBOR, APRIL 17, 1964
The Regents met in the Regents' Room at 9:30 A.M.
Present, the President and Regents Matthaei, McInally, Sorenson,
Cudlip, Power, Murphy, Brablec, and Goebel. Superintendent of Public
Instruction Bartlett was absent. Executive Vice-President Niehuss, VicePresidents Heyns, Pierpont, Lewis, and Stirton, Mr. Michael Radock,
and the Secretary also were present. Vice-President Sawyer was absent.
The minutes of the meeting of March 26, 1964, were approved with
certain specified changes.
The report on investment transactions, which was accepted and Investment
Transactions
placed on file, is summarized below (p. 263): Transactions
Bonds Purchased Cost
U. S. Treasury issues................................. $ 671,337.99
Others (nongovernment)............................... 2,446,425.92
Total............................................ $3,117,763.91
Stocks Purchased
Common............................................. $ 260,313.42
Stocks Sold Net Proceeds
Common............................................. $ 200,383.54
Real Estate Sold........................................ $ 32,000.00
Total Amount
Loaned
Mortgage Loans Made.................................... $ 71,750.00
The following Expendable Restricted Fund budgets were reported Expendable
Restricted
(p. 263): RestricFund Budgets
Budgets in the amount of $2,198,019 have been initiated for accounts and
activities of the Expendable Restricted Fund since the meeting of March 26. The
following is a summary of the budgets initiated since the last meeting, and for
1963-64 to date.
April 1963-64
1964 To Date
1. Instructional programs......................$1,017,140 $14,112,461
2. Research grants and contracts................ 1,177,430 41,363,576
3. Student aid (fellowships, scholarships, and grants) 3,449 2,788,199
4. Student activities.............................. 47,211
5. State and public services....................... 370,057
6. Administrative and service activities............. 112,502
7. Annuitants................................... 18,980
Total.................................$2,198,019 $58,812,986
Within each category the source of funds for each budget is indicated, and a
summary of these sources follows:
1. Federal government....................... $2,085,347 $46,527,246
2. State and local government.................. 347,097
3. Industry and individuals.................... 74,646 4,852,093
4. Foundations............................... 36,434 3,674,866
5. Endowment income......................... 1,592 1,472,936
6. Program charges and fees...................... 1,938,748
Total.................................$2,198,019 $58,812,986

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