APPENDIX.

The following are the names of the citizens of Ann Arbor who con

[SCHEDULE No. 1.]

REPORT OF THE COMMITTEE ON FINANCE.

In accordance with a resolution of the Board, the Committee on Finance respectfully present the following report:

According to the statement of the Secretary, marked "A," herewith exhibited, the warrants drawn upon the Treasurer since last report, or from July 1st, 1853, to June 30th, 1854, inclusive, amount to $16,454 74;

Which sum was paid for the following purposes, For Professors' salaries

viz:

$12,216 59

231 80

343 50

Expenditures on grounds and buildings,
including pay of Superintendent; for
plank walk; erection of privies; repairs
of main buildings and the houses occu-
pied by the Professors on the University
grounds ..

1,072 64

500 00

66 Interest on consolidated warrant

66

Investments for Scientific Department. . -
Warrant No. 102, for $500, reported last year

as drawn, but not issued, was issued and
paid by the Treasurer this year to the
Committee on the Observatory, viz: E.
Farnsworth, H. N. Walker, and S. H.
Douglass

500 00

-$16,954 74

Warrant No. 146 was issued in place of warrant No. 123, reported last year as drawn but not issued, and the latter has been canceled; which decreases the amount of outstanding warrants June 30th, as reported by the Treasurer, being $150 less than his statement herewith appended.

Abstract of receipts and disbursements of funds received at the University during the Collegiate year. (For details, see Report of E. Andrews, Superintendent of Grounds and Buildings, letter B.)

COLLEGE OF ARTS AND SCIENCES.

The receipts of this department of the University, from
July 20th, 1853, to July 20th, 1854, for initiation fees,
wood tax, room rent, &c., from students, including cash
on hand at the date of last report, amount to,
The warrants drawn in favor of this department, for
grounds, buildings, plank-walk, &c., expended under the
direction of the Superintendent, are included in the sum
of warrants reported as drawn on the treasurer during
the year, and must not be regarded as additional to the
sum reported, viz: $16,454 74, as of this amount the
Superintendent received, and charged himself with,...

Total,.

The expenditures for this department during the year, as per account rendered, (letter B,) authenticated by prop

er vouchers, amount to,.

Cash in hands of Superintendent,

Total,.

$1,655 57

892 45

$2,548 02

$2,532 92

15 10

$2,548 02

COLLEGE OF MEDICINE AND SURGERY.

The receipts of this Department during the year, including cash received for material and special anatomical tickets, amount, with the cash on hand at the date of last report, to,

$1,873 65

Total of Expenditures for the fiscal year commencing June 30th, 1853, and ending July 1st, 1854:

Warrants drawn on Treasurer of the University,-

Funds received from College of Arts and Sciences, ex

$16,954 74

Showing that the unexpended balance of cash on hand June 30, 1854, over and above all liabilities, is $3,232 98.

The committee have not inclu led among the liabilities of the University the original loan of $100,000, as it is, perhaps, generally known that the State has reserved $100,000 of the University fund, derived. from the sae of University lands, to pay the interest and principal of the University bonds.

By reference to the report of the Treasurer of the University, marked C," it will be seen that this officer, by direction of the committee, has paid $5,000 00 on the consolidated warrant, with interest to July 1st, 1854. The finance committee would have urged the immediate payment of the remaining $5,000 00, or as soon as the holders would accept it, being optional with them to receive or reject the principal until due, had it not been for an apprehension that any delay on the part of purchasers of University lands to pay in the interest moneys, would temporarily embarrass the University treasury with so light a balance as would have remained after paying the whole of the consolidated warrant. The sum of $7,000 00 to be credited to the University interest fund by the State, under act No. of last session, will, without encroaching upon the regular income of the University, more than pay the balance of principal and interest of the consolidated warrant, and leave the University entirely free from debt on the 1st of January next, or as soon as the money will be accepted by the holders of said warrant.

The annexed communication from the Deputy Commissioner of the State Land Office, marked "D," conveys the important information that before the close of the next fiscal year the whole of the University lands will probably be sold, when the Institution will receive the full benefit of the grant as far as the lands have been located, amounting to about $30,000 per annum. But, as much of the income will, for a time, depend upon the promptness with which purchasers of University lands make their payments, due caution must be observed to confine the annual appropriations within a considerably less amount than the anticipated receipts, as a temporary failure of the debtors of the University fund to meet their engagements would seriously embarass the Institution. With this view, the total estimates of expenditures for the succeeding year, herewith submitted, may be regarded as below the certain income of the fund during the following year. The committee ask the attention of the Board to the statement of the Deputy Commissioner of the Land Office, that a part of the originel grant of seventy-two sections of land from the United States to the State of Michigan, for University purposes, has not been located, and respectfully suggest the adoption of proper measures to secure the balance of the appropriation.

M. A. PATTERSON,

Chairman of Finance Committee.