The Mankato free press. [volume] (Mankato, Blue Earth County, Minn.) 1879-1924, 1923-11-09
REPORT ON STATE
UNIVERSITY FUNDS.
Comptroller Lobb Makes
Annual Statement
RECEIPTS FOR YEAR
Total of $7,1Oe, e71.sS Were
Received; Disbursements
Reached Sc, 774,l78.61
ASSOCIATED Press Dispatch1

Minneapolis, November 6.-The
University of Minnesota received a
slightly smaller percentage of its
total income from the state OF Min
nesota in the year July 1, 1922, to
June 80, 1928, than it had in the
preceding year, according to the
annual report of the comptroller,
Albert ]. Lobb, just prepared for
publication.
Total receipts for the year were
s7,1O9,971.SS of which the state pro-
vided S4,1SO,S67.76or 5S.S per cent.
In the year 1922 the state had
supplied 59.4 per cent of the insti-
tution's income.
20 of the total receipts from the
state, the annual appropriations for
buildings, passed by the 1919 leg
islature to continue ten years, &C
counted for $685., 55S.94, while the
special appropriations granted to the
university for each of the past two
years supplied $4,000 more. Re-
ceipts from the mill tax of 23-100
amounted to $470, 30S.S2, while the
regular maintenance appropriation
yielded the remaining 100000.
Total Disbursements.
University disbursements during
1923-'23 amounted to $6,774,17S.61,
the difference between receipts and
disbursements being accounted for
chiefly by liabilities for untitled or
ders for supplies and equipment, al
lotments for buildings in process of
construction and deposits OF stu
la-te oil anninmnpt
held until the end OF the year to be
refunded.
The report shows the actual value
of the various trust funds owned by
the University of Minnesota to be
devoted to various educational pro-
jects, the income from majority OF
them going as loans to deserving
students who need assistance. Prin-
cipal among them is the Mayo Foun-
dalton of S2,069, 1864, the second
largest being the $250,000 fund for
the George Chase Christian Me-
mortal Cancer Hospital, to be de-
voted to treatment OF and research
in cancer.
other Trust Funds.
Other trust funds aggregating
s410.223.99 include the Gilfillan Trust
Fund of S111,25215; Ludden Trust
Loan Fund, s,242.s2; Ludden Real
Estate Loan Fund, S79,35S; Ludden
Estate Loan Fund, $15,430.98; Shev-
lin Fellowship fund, S40,9S7.50; Dorr
Fund, s6A,027.10; John A. Johnson
Memorial fund, SIG, 406.78; Howard
w. Baker fund, S25,053.52, Edward
MacaI Fife r. Johnson fund, $16,-
1851 and the Elliot Trust fund,
S9,469.99.
Although nearly one half of the
million dollar gift pledged by Will
liam Henry Eustis of Minneapolis
for construction and support Of the
Minnesota Hospital and Home for
Crippled Children has been turned
over to the university, the figure is
not included in the report as the
securities were turned over after
the new fiscal year began.
Salaries and Wages. ..
A comparative apportionment OF
the university dollar, both as re-
CARDS income and disbursements
shows that the income. in addition
to the 5S.8 per cent received from
= the state, is derived as follows:
Student fees, 13.1 per cent; land
grant income, 81 per cent; federal
appropriation, 3.5 per cent; sales, 5
per cent; service enterprises, 10.S
per cent; trust funds, IL percent;
of certificates Of Indebtedness in
connection with track removal, 81
per cent; payment by Northern Pa
cific in connection with track reno
val, per cent.
Salaries and wages take 54.6 per
cent Of the outlay, supplies and ex-
penses take 1913 per cent and CAPT.
tai outlay last year took 22.1 per
cent.
The report shows that receipts
from endowments in the natural re-
sources of the state are rather
small, contrary to a widespread be-
lief. In 1928 thew were but
s151, 160.73, of which s65.539.50 came
from swamp land interest, and $85, :
62123 from invested funds derived
from the land grant. Together these
made up but 90 per cent Of the Uni
versity of Minnesota's income.
Service enterprises, which are
shown to provide 1913 percent Of the
income, are such things as cafe
terias, dormitories, students health
service, and the like, operated at
cost for the students, for which the
outgo is always approximately equal
to the income.