FINANCES OF THE COLLEGE

The following facts and figures are taken from the address of Mr. H. C. Edgerton '06, auditor of the College, at the dinner given to the Secretaries' Association:

During the decade, 1870 to 1880, the total expenses of the College remained nearly constant at $35,000, with an average deficit of $5,000. During the last fiscal year the gross expenses exclusive of building were $384,000. The following percentages, showing the way in which these sums have been expended are illuminating. The figures for last year, and ten years previous are taken as a basis of comparison:

Instruction 56.9%, 58.3% Administration 11.9% 10.8% Library 5.3% 4.5% Buildings 16.7% 14.0% General 9.2% 11.9%

The most significant facts in these figures are the increase shown in the percentage given to instruction last year over ten -years ago, and the decrease in the proportional amount expended for administration and buildings. No comparable figures can be prepared for the decade 1870 to 1880. During this period, however, the salary of the President and Treasurer was 15% of the total expenses of the College, while now the total outlay for all administrative purposes is but 10.8% of the gross expenditures.

The figures below show the source of the income of the College:

Endowment 58.8% 39.7% Students 27.9% 48.1% Gifts, miscellaneous 13.3% 12.2%

In 1910-1911 the gift of $500,000 was received from Mr. Tuck, but was not available until the following year. Even if this is added it makes the percentage of income from endowment in this year only 44. It will be seen at once that the income from endowments is not keeping pace with the growth of the student body, even when the sum obtained from Mr. Tuck's recent gift is added.