Proceedings of the Board of Regents (1963-1966)

September Meeting, 1963
THE UNIVERSITY OF MICHIGAN
ANN ARBOR, SEPTEMBER 20, 1963
The Regents met in the Regents' Room at 9:30 A.M.
Present, the President and Regents Thurber, Matthaei, McInally.
Sorenson, Murphy, Brablec, and Goebel. Superintendent of Public
Instruction Bartlett and Regent-elect Cudlip also attended the meeting.
Regent Power was absent. Executive Vice-President Niehuss. VicePresidents Heyns, Pierpont, Sawyer, Lewis, and Stirton. Mr. Michael
Radock, and the Secretary also were in attendance.
The minutes of the meeting of July 26 were approved with certain
specified changes.
The report on investment transactions, which was accepted and Investment
placed on file, is summarized below (p. 1): Transactions
Bonds Purchased Cost
U. S. Treasury issues................................... $3,067,108.74
Government agencies................................... 1,497,500.00
Others (nongovernment)............................... 149,059.49
Total........................................... $4,713,668.23
Stocks Purchased
Common............................................ $ 548,737.37
Bonds Sold Net Proceeds
U. S. Treasury issues................................... $1,513,710.13
Others (nongovernment)................................ 4,874.32
Total............................................ $1,518,584.45
Exchanges
U. S. Treasury issues................................... $ 641,000.00
Total Amount
Loaned
Mortgage Loans Made..................................... $ 211,150.00
The following Expendable Restricted Fund budgets were reported Expendable
Restricted Fund
(P. 1)' Budgets
Budgets in the amount of $12,834,323 have been initiated for accounts and
activities of the Expendable Restricted Fund since the meeting of July 26. The following is a summary of the budgets initiated since the last meeting, and for 1963-64
to date.
September 1963-64
1963 To Date
1. Instructional programs......................$ 4,772,400 $ 6,007,861
2. Research grants and contracts................ 7,025,921 13,977,327
3. Student aid (fellowships, scholarships, and grants) 915,459 1,399,335
4. Student activities.......................... 41,611 47,211
5. State and public services.................... 53,552 62,132
6. Administrative and service activities.......... 9,000 92,252
7. Annuitants............................... 16,380 16,380
Total................................$12,834,323 $21,602,498
Within each category the source of funds for each budget is indicated, and a
summary of these sources follows:
1. Federal government.......................$10,140,252 $16,424,084
2. State and local government.................. 75,337 75,517
3. Industry and individuals.................... 1,127,154 2,205,508
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