Proceedings of the Board of Regents (1963-1966)

November Meeting, 1965
THE UNIVERSITY OF MICHIGAN
ANN ARBOR, NOVEMBER 19, 1965
The Regents met in the Regents' Room at 9:30 A.M.
Present, the President and Regents Matthaei, Briggs, Cudlip,
Murphy, Brablec, and Goebel. Regents Power and Sorenson were
absent. Executive Vice-President Niehuss, Vice-Presidents Smith, Pierpont, Norman, Cutler, Stirton, and Radock, and the Secretary also were
present.
The minutes of the meeting of October 22, 1965, were approved with
certain specified changes.
The report on investment transactions, which was accepted and Investment
placed on file, is summarized below (p. 1063): Transactions
Bonds Purchased Cost
Government agencies.................................. $3,027,021.88
Others (nongovernment)................................ 3,947,005.90
Total............................................ $6,974,027.78
Stocks Purchased
Common............................................. $ 107,297.22
Preferred............................................. 479.25
Total............................................ $ 107,776.47
Stocks Sold
Common............................................. $ 64,695.23
Real Estate Sold.......................................... $ 25,000.00
Total Amount
Loaned
Mortgage Loans Made..................................... $ 218,615.00
The following Expendable Restricted Fund budgets were reported Expendable
(p. 1063): Restricted Fund
Budgets
Budgets in the amount of $6,108,788 have been initiated for accounts and
activities of the Expendable Restricted Fund since the meeting of October 22. The
following is a summary of the budgets initiated since the last meeting, and for
1965-66 to date.
November 1965-66
1965 To Date
1. Instructional programs.........................$ 349,660 $13,096,064
2. Research grants and contracts................... 5,565,708 26,630,428
3. Student aid (fellowships, scholarships, and grants).. 191,620 4,019,152
4. Student activities.............................. 1,800 49,249
5. State and public services........................... 374,421
6. Administrative and service activities................. 98,423
7. Annuitants.................................... 17,760
Total.....................................$6,108,788 $44,285,497
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