THE CURRENT INCOME AND EXPENSES OF THE COLLEGE

The period of reconstruction, as defined by the Trustees financially, extended from 1893 to 1905. During this period a reconstruction account was kept open on the treasurer's books, which represented the annual excess of expense above income. This excess was chiefly due to the increased cost of intrusion consequent upon the development of the college plant. It was considered that the best possible investment of certain undesignated funds, referred to in Article III of this series, was their use in the process of reconstruction, in the expectation that the amount thus expended would reappear in the increased earning power of the College as a corporation. The result has more than justified the expectation. During the twelve years of reconstruction the amqunt thus expended was $169,476.89. Within this period the amount received from tuition alonei more than quadrupled (1893—$18,188.79; 1905 $77,014.) while the income from productive funds was nearly doubled (1893—546,923-86; 1905-$88,000).

The reconstruction account was closed in 1905, since which time the current expenses have not been allowed to exceed the. current income. The present relation of expense" to income may be considered normal. The tables which follow, prepared in the treasurer's office, show the annual income and expense of the College for the last three years, 1905-1908, with an analysis of the various items of expense. The income and expenses of the College both net and gross during the last three years have been as follows:

Gross Net 1905-6 $305,707.89 $225,025.37 1906-7 330,920.18 245,877.70 1907-8 365,772.60 261,868.92

The difference between the net and gross figures covers such items as cost of running the dormitories, expenses of other real estate held as investments, cost in connection with foreclosed property, and scholarships.

An analysis of the figures for the fiscalyear just closed shows the following:

INCOME Gross Net Income from Invested Trust Funds $156,432.68 $106,810.75 Rentals from Reed, Thornton and Wentworth 10,066.31 3,376-13 Rentals from Dormitotories built on Loans 20,357.56 Rentals from College Hall (including that charged Club and Dining Ass'n) 6,335.14 Miscellaneous Income 2,206.21 1,577.34 Lease Land Rentals 584-38 572-48 Appropriation from State 20,000.00 20,000.00 Tuitions (including all departments) 149,790.32 130,520.32 $365,772.60 $262,868.92 EXPENSE Gross Net Exp. of Investm'ts (includ'g mainten'ce and care of dormitories) $49,621.93 Maintenance of College Buildings 35,342.50 $34,713.63 Maintenance of Reed, Thornton, and Went-worth 6,690.18 Maintenance, Interest, and Sinking Funds of Dormitories built on Loans 22,822.09 2,464.53 Maintenance and Interest College Hall 6,750.06 414.92 College Club Expense 5,804.10 5,804.10 Library (books and service) II,655.35 II,655.35 aside for specific purposes and Lab. Fees 7,269.41 7,269.41 Expenses of Associated Schools (including salaries) 17,958.02 17,958.02 Miscellaneous Exp'nses 20,627.91 20,627.91 Scholarships and Loans 20,129.72 859.72 Salaries (academic and administration) 147,873.90 147,873.90 Special Appropriations 13,227.13 13,227.43' $365.772.60 $262,868.92

ANALYSIS OF EXPENSE ACCOUNTS SALARIES : (Total Salary Roll) $168,637.00 Administration: President, Acting President, Secretary, Treasurer, Dean, Superintendent of Buildings, and Assistants in Offices $22,300.00' Library 6,613.60 Departments of Language and Literature: Greek $ 6,500 Latin 7,210 German 8,550 French 10,875 English 14,250 $47,395-00 Departments of Mathematical and the Physical and Natural Sciences: Mathematics and Graphics $12,035.80 Physics and Astronomy 8,150.00 Chemistry , 6,477.25 Biology 8,009.70 Geology 2.600.00 Medical, first two years 5,400.00$42,672.75 Department of History, the Social Sciences and Philosophy: History $6,900.00 Economics 5,314.95 Sociology 2,600.00 Political Science 5,600.00 Philosophy 5,650.00$26,064.95 Miscellaneous: Religious Soc'y, Musical Director, Medical Director, Physical Culture, Monitors, Parker Fellow $7,841.20 Tuck School 5,200.00 Thayer School 6,727.00 Medical School last two years 3,822.50

ANALYSIS OF EXPENSES OF ACADEMIC HALLS Athletic Field $ 608.52 Bartlett Hall 932.24 Bissell Hall 1,621.17 Buildings and Grounds 4,501.01 Butterfield Museum 4,283.52 Chandler Hall 1,224.01 Culver Hall 1,615.19 Dartmouth Hall 4,336.71 Isolation Hospital 214.07 Lord House (Administration B'ldg) 1,757.75 Observatory ' 109.02 Rollins Chapel 1,773.84 Tuck Building .1,539.55 Webster Hall 2,840.17 Wilder Hall 3,798.13 Wilson Hall 2,187.60 $35.342.50

ANALYSIS OF GENERAL EXPENSE ACCOUNT Advertising in College Periodicals $185.60 Appropriations'. Archaeology $150.00, American School at Athens 150.00 $300.00 Assessments'. College Entrance Board, etc. 274.00 Commencement:Gojvns 5848.00 Banquets ' 795.00 Other Expenses 639.40 2,282.40 Dartmouth Bi-Monthly(College numbers) 525.00 Engravings 572.26 Gymnasium Expense 404.75 Hospital 225.43 Interest and Annuity 3,145-24 Jamestown Exposition Exhibit 106.01 Medical, Thayer and Tuck Graduation Banquets 143.25 Medical Director's Expense 316.81 Military Record Sons of Dartmouth 760.28 Music Expense 273-74 Russell House 68.86 Teachers' Conference $198.75 Webster Hall Stage 473.74 Webster Hall Piano 800.00 Expenses of Departments, Conferences, etc. 1,216.89 Dean's Office: Catalog 1,435.03 Exam. Papers 855.78 Office Expense 2,881.75 5,172.26 President and Secretary's Office Expense 1,636.39 Treasurer's Office Expense 1,296.25 Trustees' Expense 250.00 $20,627.91

ANALYSIS OF LIBRARY EXPENSE INCLUDING CARE OF BUILDINGS Salaries $6,613.60 Expenses 617.75 Books (not including $5,000.00 special) 4,424.00 Care of Buildings 2,187.60 $13,842.95

ANALYSIS OP ACCOUNT WITH DORMITORIES OLD DORMITORIES Dormitory Income Expense Value on Books Reed Hall $4,659.60 $2,811.87 Thornton Hall 2,716.38 1,982.35 Wentworth Hall 2,690.33 1,895-96 $10,066.31 $6,690.18 COLLEGE HALL $6,335.14 $6,750.06 $112,000.00

DORMITORIES HELD AS INVESTMENTS BY TRUST FUNDS Crosby House $4,943.55 $2,512.93 $27,953.78 Elm House 1,181.20 1,371.88 7,737.98 Fsyerweather Hall 6,694.18 3,542.90 44,060.54 Hallgarten Hall 1,773.76 1,689.93 8,778.70 Hubbard House 1,838.72 1,024.25 11,925.18 Hubbard N.o. 2 3,790.76 3.164.42 15,750.00 Noyes House 1,067.75 834.13 Proctor House . 1,055.82 693-37 5,000.00 Richardson Hall 5,1987.33 2,667.03 49,015.69 Sanborn Hall 4,082.04 2,445.80 20,861.15 Wheeler Hall 10,260.56 4,109.09 83,125.5 $42,675.67 $283,706.58

DORMITORIES BUILT ON LOANS Dormitory Income Expense Value on Books Fayerweather North $4,452.74 $5,034.82 $29,161.75 Fayerweather South 5,686.62 5,989.37 33,838.25 Massachusetts from Trusts 7,906.03 7,906.03 75,782.79 Shurtleff House from Trusts 1,061.40 1,733.98 3,000.00 Swett House 1,250.77 2,157.89 6,000.00$20,357.56 $22,822.09 $147,782.79 Grand Total $79,434.68 $60,318.06 543,489.37

The expense item in this last account of $22,822.09 includes interest amounting to $5,451.78 and sinking funds amounting to $1,414.79 whereas in all the other cases except College Hall (which includes interest) the difference between the income and expense items represents the interest received by the trusts owning the building.

ACCOUNT WITH DARTMOUTH COLLEGE CLUB Dining Association—Board Employees, Use of Dining Hall, etc. 5i,181.52 Expense by Department of Buildings and Grounds 124.94 Furnishings: Rugs and Chairs 887.34 Heating , 190.76 Lighting 655.20 Linen for Commencement 311.04 Rent of Club Rooms 1,200.00 Rent and Light of Alumni Section 785.00 Salaries 300.00 Secretary's Account 600.00 $6,235.80 Less Rentals received 43I-70 Net Expense to College $5,804.10

DARTMOUTH COLLEGE CLUB—-SECRETARY'S ACCOUNT Receipts Balance from 1906-7 $ 26.39 Billiards 1,677-14 Leslie Harris Entertainment 160.00 Rents 42.66 Telephone 6.75 Chas. P. Chase, Treasurer 600.00 $2,512.94 Payments Billiard Room: Wages and Maintenance $532.49 Entertainments Periodicals and other Club Expense 410.50 Maintenance of College Hall 210.10 Sundries 4!-92 Balance forward 4-32 $2,512.94

ACCOUNT WITH HEATING PLANT Debit Coal Consumed $24,860.98 Labor 3,231-03 Light 108.00 Repairs 106.52 Supplies 262.82 Water 24.50 Insurance on Boilers 190.00 Total Cost of Operation $28,783.85 Interest 2,892.98 Sinking Fund to Reduce the Principal 1,157.24 $32,834-07 Credit Heating charged Buildings $24,118.13 Heating charged College Club, Dining Ass'n and Inn Heating charged Tontine Property 327.03 Heating charged Shop 695.25 Heating charged Construction Accts. 476-70 Heating charged Electric Plant 3,820.00$32,834.07

HEATING PLANT SUMMARY Total Cost of Plant and Mains to date $78,259.05 Associated Trust, Value on Books $68,000.00 Sinking Fund Reduction, Nine Years 10,259.05 $78,259.05.

ACCOUNT WITH ELECTRIC PLANT Debit Heating Plant $3,820.00 Labor 858.66 Supplies 976.22 Total Cost of Operation $5,654.22 Interest 1,193.85 Sinking Fund used to Reduce the Principal 2,634.14 New Construction during the Year 729.13 Cost of New Equipment over the $3,198 in that Fund 1,221.76 Depreciation Fund Reserved 1,775.00 Balance of Income carried forward 2,000.00 $15,208.76 Credit Lighting charged Buildings $12,968.68 Lighting charged College Club, Dining Ass'n and Inn 2,039.58 Lighting charged Shop 30.00 Lighting charged Heating Plant 108.00 Rent of Annex 62.50 $15,208.76

ELECTRIC PLANT SUMMARY Total Cost of Equipment and Cable Lines to date #39,208.03 Money Borrowed $26,000.00 Sinking Fund Reduction, Three Years 6,000.00 Present Book Value $20,000.00 Associated Trusts $13,208.03 Sinking Fund Reduction, Three Yrs. 7,908.03 Present Book Value 5,300.00 Total Sinking Fund Reduction from Income 13,908.03 $39,208.03

*This article is the last of a series of authorized statements which the BI-MONTHLY has published, having to do with the resources and expenditures of the College.