Proceedings of the Board of Regents (1963-1966)

July Meeting, 1964
THE UNIVERSITY OF MICHIGAN
ANN ARBOR, JULY 24, 1964
The Regents met in the Regents' Room at 2:00 P.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,
Vice-Presidents Heyns, Pierpont, Sawyer, Lewis, Stirton, and Radock,
and the Secretary also were present.
The minutes of the meeting of June 19, 1964, were approved with
certain specified changes.
The report on investment transactions, which was accepted and Investment
placed on file, is summarized below (p. 337): Transactions
Bonds Purchased Cost
U. S. Treasury issues.................................. $ 54,550.68
Others (nongovernment)............................... 4,860,163.71
Total............................................ $4,914,714.39
Stocks Purchased
Common............................................. $ 90,142.93
Preferred............................................ 313.20
Total............................................ $ 90,456.13
Bonds Sold Net Proceeds
U.S. Treasury issues................................... $ 44,343.75
Government agencies................................... 149,976.56
Others (nongovernment)............................... 147,000.17
Total............................................ $ 341,320.48
Stocks Sold
Common............................................. $ 599,781.50
Preferred............................................ 19,824.52
Total............................................ $ 619,606.02
Total Amount
Loaned
Mortgage Loans Made..................................... $ 429,525.00
The following Expendable Restricted Fund budgets were reported Expendable
(p. 3 37): Fund Budgets
Budgets in the amount of $10,688,824 have been initiated for accounts and
activities of the Expendable Restricted Fund since the meeting of June 19. The
following is a summary of the budgets initiated since the last meeting, and for
1964-65 to date.
July 1964
1. Instructional programs......................$ 2,447,552
2. Research grants and contracts................ 6,884,432
3. Student aid (fellowships, scholarships, and grants) 1,250,339
4. Student activities........................... 32,848
5. State and public services.................... 73,253
6. Administrative and service activities.......... 400
7. A nnuitants....................................
Total..................................$10,688,824

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