Lebanon Valley College Report to the Finance Committee

Lebanon Valley College

OFFERS

Extension Courses

HARRISBURG - LEBANON - ANNVILLE

SATURDAY MORNING CLASSES
IN ANNVILLE

1935-1936

Bulletin — August 1st
Address: M. L. Stokes, Ssc'y., Annville, Pa.

Hershey Demonstration School

Lebanon Valley College

BULLETIN

Vol. XXIV OCTOBER. 1935 No. 7

REPORT OF FINANCE COMMITTEE

FOR FISCAL YEAR

ENDING JUNE 30, 1935

To be Presented to the Board of Trustees at their
Annual Meeting, Friday, June 5, 1936

A supplement to this report will give figures for the
school year 1935-1936, to June 1, 1936

Entered as Second-Class matter at .Annvillo, Pa., ,.nder the .\ct of August 24, 1912

Digitized by the Internet Archive

in 2011 with funding from

LYRASIS IVIembers and Sloan Foundation

http://www.archive.org/details/lebanonvaloct193524leba

TABLE OF COHTENTS

Student Snrollment 4

Funds xTOsi tnd F« &• R* A* ••••••••••*••••••••••••••••••••••••*•« A

Comasnts, Chairman of the Finance Comiittee 5

Comparative Balance i>heet , 6

Condensed CoaparatiTe Statement of Current Inoone and Szpenses.. 6

Statement of Current Funds .....10

Statement of Current Income. . ...,....« 11

Statement of Current Expenses IS

Statement of Endomnent Income IS

Details of Current Fund Adjustments 22

Condensed Statement of General Fund Cash Reoeipts and

Disbursements 23

Statement of Cash Reoeipts and Disbursements, Sndomoent

Income Account .25

Statement of Loan Funds .25

Statement of Bndo^ffiient end Other Hon'-Sxpendable Funds.... 27

Schedule of Sndomoent Fund Investments 28

Statesasnt of Plant Funds 36

Plant Funds Assets 37

Extension Department. . .« 38

Sunaasr School Report. 38

Statement of Musio Sohool Income and Expenses.. 39

Statement of Dormitory Income and iixpenses 40

Report of Dining hall ...41

Statement of Laboratory Inootse andl Expenses .42

Report of Library. 42

Doimtions to Lebanon Valley College for Special Purposes 43

Analysis of Heating Plant Expense 44

Analysis of Farm Deficit Account..... 44

Statement of Bast Berlin Farm Income and Bxpeixses 45

Statement cf Shiremanatown Farm laoome and Expenses , 46

Audit Certificate .47

STUDEHT EMROLIMEHT, 1934-1935

College Department
Graduate Students

Men
2.

Women
2

Total
4

Seniors

46

18

64

Juniors

48

22

70

Sophomores

55

21

74

Freshmen

74

36

110

Specials

1

1

2

Saturday Classes

8

232

22

122'

30

354

Conserratory of Music
Seniors

3

5

8

Juniors

9

11

20

Sophomores

6

9

15

Pre shmen

9

12

21

Specials

23
50

41
78

64

128

Extension Deparianent

10

20

30

TOTAL ENROLmENT

292

220

512

Duplicates

5

10

15

HET EHROLLMEMT

287

210

497

Summer Session, 1935

26

18

44

FUNDS FROM THE F.E.R.A.
(Not taken into College Account)

September, 1954
October, 1934
No-vember, 1934
December, 1934
January, 1935
February, 1935
March, 1935
April, 1935
May, 1935
June, 1935

#42.15
272.25
465.30
558.65
565.65
627.20
630.00
630.00
630.00
187.95

$4,609.05

Number of students helped - 74

To the Board of Trustees of Lebanon Valley College:

The Finance Conmiittee presents -che follo^ring report of the
finances of the college for the fiscal year beginning July 1, 1934,
and ending June 50, 1935, a twelve-month period. Last year's report
was made cd^roring a ten month period due to the change in the date
of closing the fiscal year from August 31 to June 30, This fact
should be kept in mind vjhen making comparisons for these two years.

Income and Expenditxires

The total income for the year here reported was $180,423.18 as
compared with $162,610,37 for the ten months of the preceding fiscal
year. Inasmuch as the income producing part of the fiscal year is
included Trithin liie ten-month period covered by the last report the
increase above shown is not due entirely to the greater length of
time involved. All of the major sources of income have shown an
increase during this year.

In accordance with the policy of the Committee no expenditures
were made during the year that could be avoided or postponed. The
expenditures for the year amounted to $189,009.96, which included
additions to plant from current funds amoxmting to §8,079.12, As
compared with last year the expenditures show an increase in excess
of $25,000,00. A large part of this increase appears in the depart-
ment of instruction and research and is due to the lengthened period
for this year, v/hich includes two more months of faculty saleiries
than the last accounting period. Most of the remainder of the increase
is in the expense of operating the dining hall. Two factors enter
here; first, an increase in food costs and second, a rental charged
for dining hall and kitchen space, TuAiioh in previous years had not
been done.

Securities

Constant attention to the endowment investment has resulted in
strengthening the position of the college with respect to its secur-
ities. The changes made during the year have improved the already
evident trend toward an aggregate appreciation of values, 'iTae income
from invested funds has also shown a gratifying increase.

Student Accounts

Accotmts receivable at the end of the year show a slight decrease
from a year ago, which may indicate that students are experiencing
a little less difficulty in procuring money to finance their college
education,

J. R. BNGLE,
Chairman, Finance Committee

EJxhibit A

COMPARATIVE BALANCE SHEET
JUIJE 30, 1935 AND 1934

ASSETS

Jvme 30,

June 30,

1935

1934

Increase

Decrease

I Cxirrent Funds:

A Generals

Cash

#1,560.55

1 441.35

11,119.20

Investments, Notes Reo'vable 12,123.18

12,273.44

$ 150.26

Ao counts Eeo'vable,

Students 14,397.49

14,741.58

344.09

Advanoes Reo'vable,

Farm

Account

2,232.19

2,232.19

Dining Hall Supplies

987.19

1,438.63

451.44

Laboratory Supplies

1,525.00

1,550.00

25,00

Summer School Expenses,

Prepaid

104.70

104.70

Prepaid Insurance

1,941.19

3,494.11

1,552.92

Deficit

18,767.32

2,101.42

16,665.90

53,638.81

38,272.7^

15,366.09

B Restricted:

Cash

1,395.38

1,343.21

52.17

55,034.19

39,615.93

15,418.26

II Loan Funds $

Cash

1,902.19

1,522,25

379.96

Notes Receivable

Ion- Exp

3,736.63

2,895.91

840.72

5,638.82

4,418.14

1,220.68

III Endoiwaent and Other I

endable Funds

374.00

157.87

Cash

531.87

Bonds

630,671,16

630,463.53

207.63

Stocks

172,258.25

172,829.23

571.00

Allotment Certificates

14,773.51

14,773.51

Mortgages

21,250.00

20^760,00

500.00

Notes Receivable

24,636.71

24,931.21

294.50

Real Estate (Farms)

47,476.25

47,476.25

911,597.73

911,597.73

IV Plant Funds:

Lands

39,000,00

39,000.00

Underground Heating

and

Plumbing System

17,089.39

17,089.39

Buildings

495,149.44

494,469.03

680.41

Equipment

101,785.92

94,387.21

7,398.71

653,024.75

644,945.63

8,079,12

V Agency Funds:

Cash

914.86

82.54

832.32

Advances Receivable

from

General Fund

183.19

115.17

68.02

Farm Improvements

2,500.00

2,500.00

Fann Deficit

2,810.51

4,108.79

1,298.48

6,408.36

6,806.50

398.14

To-I-bI Arro+;r

1,631, 7ns. PS

1 fin7 RR?; Qs 54. .710 o5>

Exhibit A

COMPAEATTVE BMAHCE SHEET
JUME 30, 1935 AHD 1934

LIABIUTIES AM) FUOT)S

Jvizie 30, Juzie SO,

1936 1934 Inorease Decrease

I Current Funds;
A General:

Notes Payable |38,500,CO ♦28,500,00 U0,.000,00

Accounts Payable 9,955.62 5,657.65 4,298.07

Advances Payable, Agency

Funds 183.19 115,17 68,02

Reserve for Doubtful Acc'ts 5,000,00 3,500.00 1,600,00
Deferred Credits

B Restricted;
Funds

II Loan Funds;

Funds

500.00

1500.00

53j638.81

38,272.72

15,366.09

1,395.38

1,343.21

52.17

55,034.19

39,615.93

15,418.26

5,638.82

4,418.14

1,220.68

III Endowment and Other Non- Expendable Funds:
Endcnmnent Funds;

General 683,426,03 683,426.03

Restricted 225,771.70 225,771.70

909,197.73 909,197.73

Annuity Funds 2,400.00 2,400.00

911,597.75 911,597.'7r

lY Plant Ftinds;

Net Investment in Plant 653,024.75 644,945.63 8,079.12

V Agency Funds;

Notes Payable, Farm Aco»t 4,000,00 4,200,00 200*00

Accounts Payable, Farm

Account 259.14 259.14

Advances Payable, Farm

Account 2,232.19 2,232.19

Funds 176.17 115.17 61.00

6.408.36 6,806.50 598,14

Total Liabilities

and Funds 1,631,705.85 1,607,583.95 24,519.92

Exhibit B-1

COITOENSED COItlPARATrVE STATEt.ffilW OF CURRENT INCOME AND EXPENSES
(Exolviding Receipts and Disbursements of Restricted Funds
for Non-Bduoation&l Purposes)

July 1 »34 Sept. 1 «33
to to

INCOME June 50 '55 June 50 '34 Inorefise Decrease

I Educational and General;
(1) Student Incomes

School of Liberal Arts

and Sciences $64,656.20 $fil,y44.75 $8,711,44

Auxiliary Educational

Schools 23,068.46 18,589.50 4,473.96

(2) Endowment Incosie 22,874.97 "21,259.T3 17^15.74""

(3) Gifts and Grants 5,644,87 3,189,85 2,455,0?

(4) Other Sources 2,780.87 _ 2 ,297 .25 485 .64 _ ___ _

Total Educational and

General Income 119..025.27 107,280.47 11 744.80

II Auxiliary Enterprises and^ActiTJties;

TT) Dormitories ' 20,801.50 16.291.26 4.510.24

(2) Dining Hall 38,605.90 38,683.75 77.85

(3) Placement Bureau Income 45.00 49.00 4.00

(4) Leadership Training School 854.90 854.90

Total Income, Auxiliary
Enterpri ses and
Activities ^60,507.30 55^24,01 5,283.29 _

III Income for Non-E_ducational

Purposes " '• - 1,090.61 505.89 _ 784.72

Total Income 180,423.18 162,610.37 17,812.81

Total Expenses,

Forwarded 189,009.96 163,073.52 25,958.44 __

Wet LOSS before deduct-
ing additions to Plant
from Current Funds 8,586.73 461.15 8,125.63

Additions to Plant from

Current Funds 8,079.12 J-V^15.63_ _ 2,536.51

Net Loss after deducting
"Additions to Plant
from Current Funds ^18,665.90 $10,876.78 $5,739.12 _^

8

Exhibit B-1

CONDENSED COMPABATIVE STAiaiENT OF CTJERENT INCOME AND EXPENSES
(Exoluding Keoeipts and Disbiirseiiidnts of Eestriotsd Funds

for Hon-Eduoational Porposas)

July 1 •34 Sept. 1 «S3
to to
EXPENSES June 50 «55 June 50 '54 Inoreaae Decrease

I Eduoational and General;

(1) General Administration

and Expense |26,253.18 125,554.11 ♦2,719.07

(2) Instruction and Research:

School of Liberal Arts

and Sciences 68,309,81 59,588.71 8,921.10

Auxiliary Educational

Sohools 25,552.35 19,558.97 5,795.36

95,662.14 78,947.68 14.714.46

(5) Library 4,126.60 3,777.44 i49.16

(4) Operation and Maintenance

of Physical Plant 10,551.11 12,577.09 1,826.98

Total Educational and

General Expenses 134,595.a5 118,636.52 15,956.71

II Auxiliary Enterprises and Activities;

(1) Dormitories 11,468.71 10,828.96 639.75

(2) Dining Hall 38,685.75 27,707.23 10,978.52

(5) Placement Bureau S2.26 48,35 16.09

(4) Leadership Training

School 866.40 866.40

Total Expanses Aux-
iliary Enterprises
and Activities 51,055,12 38,584;54 12,468.58

III Other Non-Educational

Expenses 1,865.81 2,350.66 486.85

Total Expenses before

Reserve Provisions 187,509.96 159,571.52 27,958,44

Reserve Provisions;

Provision for Doubtful

AccoTmts Receivable 1,500.00 5,500.00 2,000.00

Total Expenses |189,Q09.96 163,071.52 25,958.44

Exhibit B

SXATEMEMT OF CURREIW FUITOS
YEAR ENDED JTJUE 30, 1935

Balance at beginning of year None

Add:

(1) Current educational and general

income, per Schedule B-1, Sec. I |119,025.27

(2) Inoome auxiliary enterprises and

activities, per Schedule B-l,

Sec. II 60,307,30

(3) Income non-educational purpcses,

per Schedule B-1, Sec. Ill 7 ,428 .89 $186,761.46

(4) Adjustments, per Schedule B-4 227.00

186,988,46

Deduct:

(1) Current educational and general

expenses, per Schedule B-2, Sec. I 136,093.03

(2) Expenditures of auxiliary enterprises

and activities, per Schedule B-2,

Sec. II 51,053.12

(3) Other iion- educational expenses,

per Schedule B-2, Sec. Ill 7,873.61

(4) General funds transferred to plant

funds., per Exhibit E, Sec. I 8,079.12'

203,098.88

(5) Ad;iustments, per Schedule 5-4 555.48 203,o54.36

Deficit for year ended June 30, 1935 16,665.90

Add, Deficit July 1, 1934 2.101.42

Deficit June 30, 1935, to Exhibit A, Section I $18,767.32

10

Schedule B-1

STATEMENT OF CUEEENT INCOME
YEhS ENDED JUNE 30, 1935

I Educational and General;

(1) Student Income;

A School of Liberal Arts and Sciences:

Tuition |70,143.00

Less, Scholarships 12,426.11 $57,716.89

Matriculation Fees 1,562.81

Biology Foes 1,998,00

Chemistry Fees 1,824,00

Physics Fees 362.50

Psychology Fees 67,00

Graduation Fees 1,125«0Q $64,656.20

B Auxiliary Educational Schools:

Extension School 793.00

Music School 18,283.25

Saturday School 993,00

Summer School 2,999.21 23,068.46

(2) Endovment Income (Schedule B-3)

Unrestricted 20,091.62

Restricted 2,783.25 22,874.87

(3) Gifts and Grants

Benevolence, Conference 3,030,28

Other 2,614.59 5,644,87

(4) Other Sources

Interest on Current Funds 749.47

Library Income 1,461.62

Rent for Chapel 32.50

Group Life Insurance Receipts 537.28 2,780.87

Total Educational and General

Income, to Exhibit B 119,025,27

II Auxiliary Enterprises and Activities:

(1) Dormitories;

Rentals 19,773.06

Breakage Fees 364.19

Cleaning Fees 664.25 20,801*50

(2) Dining Hall;

Students' Board 38,103.50

Sale of meals to others 480,93

Sale of food and operating supplies 21.47 38,605.90

11

Sohedul© B-1, Continued

STATEMENT OF CUEEENT INCOME
YEAR EMDED JfUm 30, 19S5

II Avixiliary Enterprises and Activities, Continued:

(3) Placement Bureau Income " |45»00

(4) Leadership Training School Income 854,90

Total Income Auxiliary Enterprises

and Aotivitiea, to Exhibit B 60,507^50

III Income for Hon-Eduoational Porposest

Day Students' Fees for Janitor Service

and Breakage |244,32

Unexpended Student Activity Fees 625.89

Class of 1934 Planting Fund 100.95

Scholarship Funds (Schedule B-3) 5,655.80

Student Loan Funds " " 500.73

Prize Funds " " 61.75

Annuity Funds " " 120.00

Miscellaneous 119.45

Total Income for Hon-Eduoational

Purposes, to Exhibit B |7,428.89

Total Income to Exhibit B |186,761.46

12

Schedule B-2

STATEMENT OF CUERENT EXPENSES
YEAR ENDED JUl'IE 30, 1935

I Educatioiml and General;

(1) Gen'eral Administratior and Expense;
A General" AcSnlni strati ve Offices;

Miscellaneous 1285,25

Office Supplies 277,31

Postage 380.42

Salaries 14,744.85

Stationery and Printing 185.70

Telephone and Telegraph 205.96 $16,079.49

B General Expense;

Advertising, General 319.59

Bulletins and Catalogues 694.54
Aluianj Secretary, Salary and

Expense 887.43

Alumni Expense 170.15

Accounting Services and Expenses 284.35

Commencement Expenses 226.45

Diplomas 152.10

Compensation Insurance 286.20

Group Life Insurance 1,366.35

Lecture Expense 223.05

Membership Dues 198.50

Miscellaneous 802.01

Press Service 870.80

Students Solicitation Expense 2.477.92
Travel and Entertainment:

Faculty 119.55

Officers 1,065.47

Trustees 51.25 1,234.25
Provision fo'^ Doubtful

(2)

Accounts Receivable 1,500.00

11,673.69

$27,753.18

Instruction and Research:

,

A School of Liberal Arts and Sciences:

Salaries, Faculty 64,874.95

Student Assistants 1,299,40

66,174.35

Practice Teaching

fifi5.00

Departm.ental Expenses;

Biology Laboratory 930,81

Chemistry Laboi'etory 465.76

English Department 13.3 6

Physios Laboratory 58.02

Psychology Laboratory 2.71

1,470.46

68,309.81

15

Schedule B-2, Continued

STAT^iENT OF CUSEENT EXPENSES
YEAR ENDED JUNE 30, 1935

(2) Instruction and Research:

B Auxiliary Schools:

Extension School:

Faculty Salaries

#600,00

Tra-seling and Miscellaneous

237.79

$837.79

Music School:

Faculty Salaries

19,625.14

Practice Teaching, Salaries

and Expenses

490.80

Tuning, repairs, music, etc.

852.76

20,968,70

Saturday School:

Faculty Salaries 994.00

Summer School:

Faculty Salaries 1,820.80

Miscellaneous Expense 276.04

Boarding Expense 455.00 2,561,84 #25,352.33

(3) Library;

Books and Magazines 629.40

Salaries 3,332.25

Supplies 164.95 4,126.60

(4) Operation and Maintenance of

Physical Plant;

Care of Buildings and

Furniture 1,969.55

Care and Maintenance of Grounds 802.60

Gas .26

Heat 4,209,86

Light and Power 982,16

Miscellaneous 100.20

Operating Supplies 82.66

Planting Expenses 35.80

Property Insurance 1,064.04
Repairs and Maintenance of Buildings

and Equipment 922.34

Taxes 154.35

Water 227.29 10,551.11

Total for Educational and General

Expenses, to Exhibit B 156,093.03

14

Schedule B^Z, Continued

STATEMENT OF CURRENT EXPENSES
YEAR ENDED JUNE 30, 1935

II Auxiliary Enterprises and Acti-wities:

ITT

Dormitories J

Care of Buildings and Furniture

13,029.46

Gas

3.00

Heat

4,264.37

Light and Power

1,804.77

Miscellaneous

92.32

Operating Supplies

84.40

Property Insurance

582.72

Rent

104.00

Repairs and Maintenance of

Buildings and Equipment

819.04

Telephone

142,25

Water

542.38

111,468.71

(2)

Dining^ Hall:

Salaries and Wages

9,531.36

Food

22,393.95

Gas

249.07

Laundry

399,42

Light

611.00

Miscellaneous

107.20

Operatii]g Supplies

335.72

Renewals and Repairs

454.05

Rental

4,475.00

Telephone

35.00

Water

94.00

38,685.75

(3)

Placement Bureau;

Expenses

32,26

(4) Leadership Training School:

Expenses

Total Expenses, Auxiliary Enterprises
and Aotimties, to Exhibit B

III Other Non- Educational Expenses;
Interest on Loans
Debating Expenses
Designation from BeneTolence Budget to

Alumni Giving Fund for Faculty
Scholarships (Schedule B-3)
Student Loan Funds (Schedule B-3)
Prizes (Schedule B-3)
Annuities (Schedule B-3)

Total Non-Educational Expenses,
to Exhibit B

Total Expenses to Exhibit B
15

866.40

,55

♦51,

,053,

.12

1,686.

72,

,66

104.

,60

5,328.

.07

500,

.73

61.

.00

120,

.00

7.

,873,

.61

$195,

,019,

.76

Sohedule B-3

STATEMENT OF ENDOVMEKT INCOME
FOR THE YEAE ENDED JUNE 30, 1935

I Unrestricted:

For Eduoational Purposes

II Restricted:

A For Eduoational and General Purposes:

1. Printing Funds:

Rev. John P. Cowling Memorial Fund

E. Professorship Funds:

Chair of English Bible and Greek Testament

Josephine Bittinger Eberly Professorship of Latin Language

and Litera-bure
John E. Lehman Chair of Mathematics
Rev. J, B. Weidler Endowment Fund

3, Library Funds:

library Pxmd of Class of 1916

4, Maintenance Funds:

Hiram E. Steinmetz Memorial Room Fund

Total Restricted for Educatioiml and General Purposes

B For No n- Educational Purposes:

1. Scholarship Funds:

Allegheny Conference C. E. Society Scholarship Fund

Dorothy Jean Baohman Scholarship Fund

Lillian Merle Bachman Scholarship Fu.nd

Baltimore Fifth Church, Otterbein Memorial Sunday School

Scholarship Fund
E. M. Baum Scholarship Fund
Biological Scholarship Fund
Eliza Bittinger Scholarship Fund
Mary A. Bixler Scholarship Fund
I. T. Buffington Scholarship Fund
Senator James J. Davis Scholarship Fund
Derickson Scholarship Fund
William E. Duff Scholarship Fund
East Pennsylvania Branch W. M. A. Scholarship
East Pennsylvania Conference C. E. Scholarship
16

Schedule B-3

STATaiENT OF EiroaTlSNT INCOME
FOR THE YEAR ENDED JUITE 30, 1935

I

H C 0 M

E

Fund

Income for

Balance

Principal

Balance

the yenr

Expenditures

Income

June 30,

Incorae

(included

Total

(included

June 30,

1935

July 1,

in Schedule

in Schedule

1935

1934

B-1)

B-2)

Exhibit A

1683,426.03

#5.50

$20,091.62

120,086,

.12

$20,367.93

-$281.81

380.00

19.00

19.00

19.00

380.00

19.00

19.00

19.00

15,230.00

761.50

761.50

761.50

40,000.00

36,430.04

200.00

- .22

100.00

100.00

100.00

1,821.50

1,821.50

1,821.50

10.00

9.78

10.00

- .22

91,860.04

- .22

2.

,693.00

2

,692.78

2,

,693.00

- .22

1,225.00

61.25

61.25

61.25

1,225.00

61.25

61.25

61.25

200.00

10.00

10.00

10.00

200.00

10.00

10.00

10.00

93^665.04

- .22

2.

,783.25

2;

,783.03

2,

,783.25

- .22

1,000.00
1,000.00
1,000.00

3,000.00

500.00

2,517.00

12,000.00

500.00
2,000,00

100.00
2,750.00

600.00
3,000.00
5,000.00

.09

50.00

50.00

50.00

50.00

50.00

50.00

50.00

50.00

150.00

150.00

150.00

25.00

25.00

25.00

125.85

125.85
.09

125.85

25.00

25.00

25.00

50.00

50.00

50.00

5.00

5.00

5.00

137.60

137.50

137.50

30.00

30.00

30.00

150.00

150.00

150.00

250.00

250.00

220.00

50.00

.09

30.00

17

Schedule B-3, Continued

STATEMEHT OF ENDOWMEUT IHCCME
FOE THE YE/LR ENDED JUNE 30, 1935

II Restricted:

B For Non-Educational Purposes:

1. Scholarship Funds:

Samuel F. Engle Scholarship Fund

M. C. Favinger and Wife Scholarship Fund

Fred E. Foos Scholarship Fund

C. C. Gingrich Scholarship Fund

G, D. Gossard and Wife Scholarship Fvmd

Peter Graybill Scholarship Fund

Jacoh F. Greasley Scholarship Fund

Hamish-Houser Publicity Fund

Harrisburg Otterbein Church Scholarship Fund

Harrisburg Otterbein Sunday School Scholarship Fund

J. M. Heagy and Wife Scholarship Fund

Bertha Foos Heinz Scholarship Fund

Harvey E. Herr Memorial Scholarship Fund

Edwin M. Hershey Scholarship Fund

H. S,. Immel Scholarship Fund

Henry G. and Anna S. Kaufman and Family Scholarship Fund

John A. H. Keith Fund

Barbara June Kettering Scholarship Fund

Rev. and Mrs. J. E. and Rev. A. H, Kleffman Scholarship Fund

A. S. Kreider Ministerial Fund

W. E. Kreider Scholarship Fund

Mrs. Savilla Loux Scholarship Fund

Lykens Otterbein Church Scholarship Fund

Mechanic sburg TJ. B, Sunday School Scholarship

Medical Scholarship Fund

Elizabeth Meyer Endowment Fiind

Elizabeth May Meyer Musical Scholarship Fund

Mrs. Elizabeth H. Millard Memorial Scholarship

Bishop J. S. Mills Scholarship Fund

Elizabeth A. Mower Beneficiarj' Fund

Grace U. B, Church of Penbrook Scholarship

Pennsylvania Conference C. E. Scholarship

Pennsylvania Branch W. M. A. Scholarship Fund

Rev. H. C. Phillips Scholarship Fund

Sophia Plitt Scholarship Fiind ^

Ezra G. Ranck and Wife Scholarship

Levi S. Reist Scholarship Fund

Harvey L. Seltzer Scholarship Fund

Schedule B-3

STATEMENT OF ENDOWMENT INCOME
FOR THE YE/>.R EI>IDED JUNE 30, 1955

INCOME

Fund

Income for

Balance

Principal

Balance

the year

Expenditures

Income

June 30,

Income

(included Total

(included

June 30,

1935

July 1,

in Schedule

in Schedule

1935

1934

B-1)

B-2)

Exhibit A

$6,000,00

$8.00

$300.00

$308.00

$308.00

1,000.00

50.00

50.00

50.00

1,000.00

50.00

50.00

50.00

3,000.00

150.00

150.00

150.00

3,300.00

661,69

165.00

826.69

$826.69

1,000.00

50.00

50.00

50.00

500.00

25.00

25.00

25.00

2,000.00

137.33

100.00

237.33

237.33

2,120.00

106.00

106.00

106.00

1,100.00

5.50

55.00

60.50

60.50

500.00

25.00

25.00

25.00

1,000.00

50.00

50.00

50.00

,

1,000.00

50.00

50.00

50.00

400.00

20.00

20.00

20.00

5,000.00

250.00

250.00

250.00

1,000.00

50.00

50.00

50.00

100.00

5.00

5.00

5.00

1,020.00

51.00

51.00

34.50

16.50

1,000.00

50.00

50.00

50.00

15,000.00

7.50

(750.00

*(257.95

1,015.45

814.72

200.73

2,000.00

100.00

100.00

100.00

1,000.00

50.00

50.00

50.00

1,000.00

50.00

50.00

50.00

2,000.00

100.00

100.00

100.00

245.00

12.25

12.25

12.25

500.00

25.00

25^00

25.00

1,550.00

77.50

77.50

77.50

5,000.00

.49

250.00

250.49

250.00

.49

3,500.00

175.00

175.00

175.00

225.00

11.25

11.25

11.25

3,000.00

150.00

150.00

150.00

4,350.00

77.88

222.50

300.38

300.00

.38

2,500.00

136.73

125.00

261.73

261.00

.73

1,300.00

65.00

65.00

65.00

6,380.00

313.70

319.00

632.70

319.00

313.70

1,000.00

50.00

50.00

50.00

300.00

15.00

15.00

15.00

3,000.00

150.00

_I50.^

150.00

120,857.00

1,348.91

5,655.80

7,004.71

5,328.07

1,676.64

19

Schedule B-3, Continued

STATEMEMT OF EHDOmffiNT INCCftiE
FOE THE YKhR ENDED JUKE 30, 1935

II Restricted:

B For Norv-Educ&tional Parposes:

2. Studsnt Loan Funds;
Mary A. Dodge Fund
Daniel Eberly Scholarship Fund

' 3. Prize Funds:

Class of 1928 Scholarship Fujid
Max F. Lehman Fund

4. Annuity Funds:

S. H. Derif-kson and \'i±fe

Ida Eberly

Elmer S. Eyler and Wife

Fanry Z. Hostetter

E. Roy Line and Wife

Total Restricted for Non-Educational Purposes
Total Restricted
Total Unrestricted and Restricted

20

Schedule B-3

STATEI.IENT OF ENDO^NiffiKT INCOME
FOR THE YEAR ENDED JUNE 30, 1935

INCOME

Fund

Income for

Balance

Principal

Balance

the year

Expenditures

Income

June 30,

Income

(included

Total

(included

June 30,

1935

July 1,

in Schedule

in Schedule

1935

1934

B-1)

B-2)

Exhibit A

|9,500,
514,

00

66

#475.00
25.73

$475.00
25.73

175.00
25.73

10,014.66

500.75

500.75

500.73

835.00
400.00

.02 ■

41.75
20.00

41.77
20.00

41.00
20.00

.77

1,235.00

.02

61.75

61.77

61.00

.77

500.00

25.00

25.00

25.00

1,000.00

50.00

50.00

50.00

200.00

10.00

10.00

10.00

500.00

25.00

25.00

25.00

200.00

10.00

10.00

10.00

?,400.00

120.00

120.00

120.00

134,506.66

1,348.93

6,338.28

7,687.21

6,009.80

1,677.41

228,171.70

1,348.71

9,121.53

10,470.24

8,793.05

1,677.19

1911,597.75

$1,343.21

$29,215.15

$30,556.36

$29,160.98

$1,395.38

*Return
Fund.

of $257.95 from Yifilliam 0. Rhoad to A. S. Kreider Ministerial

21

Schedule B-4

DETAILS OF CUERMT FUMD ADJUSTBiEMTS
YEAR ENDED JUNE 30, 1955

1. Adjustments adding to Current Funds:

Decreatje in income balances:

Samuel F. Engle Scholarship Fund $8.00
Harrisburg Otterbein Sunday School Scholarship

Fund 5.50

Pennsylvania Conference C. E. Scholarship Fund 77.50

Pennsylvania Branch W.M.A. Scholarship Fund 156.00

Total to Exhibit B, Section 4 |227.00

2« Adjustments deducting from Current Funds:

Increase in income balances:

Allegheny Conference C. E. Society Scholarship

Fund 50.00
East Pennsylvania conference C. E. Society

Scholarship Fund 30,00

G. D. Gossard and Wife Scholarship Fund 165.00

Harnish-Houser Publicity Fxmd 100.00

Barbara June Kettering Scholarship Fund 16.50

A. S. Kreider Ministerial Fund 193.23

Class of 1928 Scholarship Fund .75

Total to Exhibit B, Section 5 |555.48

22

Schedule B-5

CONDEISED STATMENT OF GENERAL FUND CASH RECEIPTS AND DISBURSEMENTS

FOR THE YEAR ENDED JUNE 30, 1935

Balance July 1, 1934

RECEIPTS

♦441.35

Income :
Students

Endowment Income
Gifts and Grants;

Conference Benevolence

Other
Other Sources:

Interest on Cvirrent Funds

Rent for Chapel

Library Income

Group Life Insurance

Placement Bureau

Leadership Training School

Unexpended Student Activity Fees

Miscellaneous
Balance Sheet Items:

Increase in Notes Payable
Increase in Accovmts Payable
Increase in Advances Payable to

Agency Funds
Decrease in Inventories;

Dining Hall $451.44

1147,220.47
22,874.87

$3,030.28
2,614.59

749.47
32.50
379.16
537.28
45.00
854.90
625.89
220.40

10,000.00
4,298.07

68.02

5,644.87

3,444.60

Laboratory Supplies 25.00

476.44

Decrease in Prepaid Insurance

1,552.92

Received from Churches on acootmt

of notes

150.26

16,545,

.71

195,730,52
$196,171.87

DISBURSEMENTS

Expenses:

Educational and General:

General Administration & Expense

126,253.18

Instruction and Research

93,662.14

Library

3,044.14

Operation and Maintenance of

Physical Plant

10,551.11

133,510.

.57

Aiixiliary Enterprises & Activities:

Dormitories

11,468.71

Dining Hall

38,685.75

Placement Bureau

32.26

Leadership

866.40

51,053,

.12

Other Non-Educational Expenses:

Interest on Loans

1,686.55

Debating Expenses

72.66

1,759,
186,322.

.21
.90

23

Schedule B-5i Continued

CONDENSED STATEi/IENT OF GENERAL FUl'JD CASH RECEIPTS AND DISBURSEf.ISirTS
FCE YEAR ENDED JUNE 30, 1935

DISBURSaiaJTS_

Balance Sheet Items:

Prepaid Summer School Expenses $104.70

Designation from Benevolence Budget

to Alumni Giving Fund 104.60

Additions to Plant 8,079.12 $8,286.42 |194,611.32

Balance June 50, 1955, per Exhibit A,

Section I-A 1,560.55

i, 171. 87

24

Schedule B-6

STATEMENT OF CASH RECEIPTS AUD DISBURSEiEENTS

ENDOI/^MEOT INCOl/IE ACCOUNT

FOR THE YEAR ENDED JXJlffi 30, 1935

Balance July 1, 1934 $1,343.21

RECEIPTS

Income from Endo^«ment Investments |29,614.59

Less, accrued interest on bonds

purchased 904.88 $28,709.71

Refund received from William 0. Rhoad
on account of A. S. Kr eider

Ministerial Fund 257.95 28,967.66

$50,510.87

DISBURSEMENTS

Unrestricted:

Transferred to General Fund for

Educational Purposes $20,091.62

Restricted:

Transferred to General Fund for
Educational and General Purposes:
Printing Funds
Professorship Funds
Library Funds
Maintenance Funds

Used for Non-Educational Purposes:
Scholarship Fvmds
Student Loan Funds
Prize Funds
Annuity Funds

Expenses:

Insurance on -tt-dair Bonds
Tax on Foreipn Coupons
PostaE;6 on Coupons
Internal Revenue Tax on checks

Balance June 50, 1935, per Exhibit A, Section tB

$19.00

2,693.00

61.25

10.00

2,

,783.25

5,328.07

500.75

61.00

120.00

6_,

,009.80

8,795.05

25.00

4.13

1.45

.24

30.82
$28,915.49

ition tB

1,595.38

$30,310.87

25

Exhibit C

STATEMENT OF LOM FUNDS
YEAE ENDED JUNE 30, 1935

FUND PRINCIPAL

Funds

Altunni Annual Giving

Fxind
Mary A. Dodge Fund
Daniel Eberly Fund
Henry B. Stehman Fund
Dr. Wagner Special

Fund

Balance

June 30,

Balance

1935

July 1,

Receipts

Other

Deduc-

Exhibit A

1934

for year

Additions

tions

Sec. II

■ $721.70

• +

+

$721.70

$2,291.29

510.00

+

+

2,801.29

25.73

25.73

+

+

51.46

2,101.12

+

+

150.00

1,951.12

^, 418. 14

115.25
$1,370.68

113.25

$150.00 $5,658.82

FUND ASSETS

Cash

Notes Receivable from Students:
Alumni Annual Giving Fund
Dodge Fund

Henry B, Stehman Fund
Dr. Wagner Special Fund

$1,902.19

$503.28
2,234.41
900.00
98.94 5,736.65

Total Loan Fund Assets June 30, 1935,
to Exhibit A, Section II

$5,638.82

26

Exhibit D

STATadENT OF ENDCWMENT AND OTHER HO»-EXPE»rDABLE FUUDS

YEAR ENDED JUlfE 30, 1955

FUND PRINCIPAL

Balance July 1, 1934

Additions during year

Deductions during year

Balance Jtme 30, 1935, to
Exhibit A, Section III

Endo7/iiient
Funds

Annuity
Funds

12,400.00

Total

1909,197.73

1911,597.73

None

None

None

None

None

None

$909,197.73

12,400.00 ♦911,597.73

Schedule D-1

SUMMARY OF ENDOVmENT FUND INVESTMENTS
JTJNE 30, 1935

Amount Percentage
Invested of Total

Farms
Bonds:

Industrial

Municipal

Public Utility

Railroad

Real Estate

Stocks

Mortgages

Notes Receivable

Allotment Certificates

Cash awaiting investment

Total Endowment Fund Investments,

June 30, 1935, to Exhibit A, Section III

♦47,476.25

5.21

♦41,350.13

4.54

9,691.23

1.07

276,613.70

30.36

206,151.10

22.63

96,865.00

630,671.16

10. 6S

172,258.23

18.91

21,250.00

2.33

24,636.71

2.70

14,773,51

1.62

911,065.86
531.87

♦911,597.73

100.00

27

Schedule D-2

SCHEDULE OF ENDOVMSNT FUITO INVESTM£I\ITS
JUIJE 30, 1935

Amount FAMiS

Farm at East Berlin
Farm at Shiremanstown

INDUSTRIAL BOHDS

$10,000 Butler Brothers

10,000 Certain-teed Products Corporation

5, OCX} Lane Bryant Incorporated

5,000 The Mead Corporation

5,000 McCord Radiator and iianufaoturine; Company

15,000 Philadelphia and Reading Coal and Iron Company
50,000

MUNICIPAL BONDS

10,000 City and County of Dallas Levee Improvement District
PUBLIC UTILITY BONDS

10,000 American & Foreign Povrer Company Inc.

5,000 Arkansas-Missouri Power Compemy

5,000 Associated Gas and Electric Company

15,500 Associated Gas and Electric Corporation

5,000 Associated Gas and Electric Corporation

5,500 Associated Gas and Electric Corporation

10,000 Birmingham Gas Company

10,000 Central Gas &, Electric Corporation

10,000 Central Power and Light Company

7,000 Central States Electric Corporation

10,000 Central "iVest Public Service Company

5,000 Cities Service Company x.w,

10,000 Cities Service Company w,w,

10,000 Cities Service Company

10,000 Cities Service Power & Light Company

15,000 Consolidated Gas Utilities Company

5,000 Federated Utilities Incorporated

10,000 Florida Power Corporation

5,000 Florida Pov/er & Light Company

10,000 General Public Utility 1st Lien

5,000 Genesee Valley Gas Company, Incorporated

10,000 International Telephone and Telegraph Corporation

10,000 Interstate Power Company

10,000 Jacksonville Gas Company

5,000 Manitoba Power Company, Limited

6,000 Midland Utilities Company

10,000 Municipal Service Company

5,000 Neva da- California Electric Corporation

28

Schedule D-2

SCHEDULE OF SNDOViTLffiNT FUITD lOTESTMEOTS

JUIIE 30, 1935

Rata Per Cent Maturity Book Value Income

$9,776.25
37,700.00

5

5-1/2

6

6

6

6

5-1/2

5

6

6

5

4-1/2

5-1/2

5

5-1/2

5

5

5-1/2

5

5

5

5-1/2

6

5-1/2

5-1/2

5

6-1/2

6

5

5

5

5-1/2

6

6

5

$47,476.25

^

1943

$8,374.40

$500.00

1948

7,774.55

275.00

1940

4,750.00

300.00

1945

4,837.50

300.00

1943

4,500.00

+

1949

11,113.58

450.00

41,350.13

1,825.00

1945

9,691.23

2030

8,975.00

500.00

1953

4,937.50

300.00

1948

5,000.00

+

1975

15,035.00

775.00

1973

5,000.00

225.00

1973

5.500.00

302.50

1959

9,856.00

500.00

1946

9,175.00

550.00

1956

9,925.00

500.00

1948

4,800.00

175.00

1956

8,975.00

+

1963

4,162.50

250.00

1969

12,262.50

500.00

1950

9,975.00

500.00

1949

9,250.00

550.00

1943

7,027.00

900.00

1957

4,250.00

275.00

1979

9,075.00

550.00

1954

3,949.94

+

1955

9,900.00

650.00

1956

4,787.50

300.00

1955

9,687.50

500.00

1957

9,375.00

500.00

1942

7,166.24

300.00

1951

4,487.50

275.00

1938

+

+

1956

5,031.67

600.00

1956

4,962.50

250.00

29

Schedule D-2

SCHEDULE OF ENDCP/iMENT FUND IKVSSTMEUTS

JUNE 30, 1935

Amount PUBLIC UTILITY BONDS, Continued

110,000 New England Gas and Electric Association

10,000 Portland General Electric Company

10,000 Postal Telegraph and Cable Corporation

5,000 Southwest Gas Company of Oklahoma

10,000 Standard Power and Light Corporation

10,000 Tide Water Povrer Corporation

10,000 United Light & PoaTer Corporation '_

10,000 West Texas Utilities Company
509,000

RAILROAD BONDS

5,000 Allegheny Corporation

10,000 Allegheny Corporation Convertible

10,000 Baltimore and Ohio Railroad Company

10,000 Baltimore and Ohio Railroad Company

5,000 Boston & Maine Railroad Company

10,000 Chicago and North Western Railway Company

10,000 Chicago Great Western Railroad Company

5,000 Chicago, Rock Island and Pacific RaiTivay Company

10,000 Chicago South Shore and South Bend Railroad Equipment

5,000 Cleveland, Cincinnati, Chicago & St. Louis Railway Company

10,000 Erie Railroad Company

10,000 Illinois Central Railroad

5,000 International-Great Northern Railroad Company

10,000 Midland Valley Railroad Company

10,000 Missouri Pacific Railroad

10,000 New Orleans, Texas & Mexico fiailT.vay Company

5,000 Hew York Central and Hudson River Railroad Company

10,000 Nev; York Central Railroad Company

10,000 New York, Chicago and St. Louis Railroad Company

5,000 Philadelphia Rapid Transit Compary

5,000 Southern Pacific Company

5,000 St. Louis, Peoria and Korthirastern Railway

10,000 St. Louis-San Francisco Railway Company

5,000 Virginia and South 'Western Railway Company

2,000 Wabash Railway Company

10,000 Western Maryland Railroad Company

10,000 Western Pacific Railroad Company

5,000 Y/e stern Pacific Railroad Company
217,000

REAL ESTATE BONDS

500 Agar Packing and Provision Corporation

5,000 Atlanta Medical Arts Building

2,000 Broadway- Barclay Office Building

5,000 Broadway & 41st Street Building

30

Schedule D-2

SCHEDULE OF ENDOVMEHT FUUD INVESTMENTS

JUNE 30, 1935

Rate Per Cent

Maturity

Book Value

Income

5

1950

$9,080.00

$500.00

4-1/2

1960

11,724.10

450.00

5

1953

9,900.00

500.00

6

1954

4,900.00

150.00

6

1957

10,156.25

600.00

5

1979

9,275.00

500.00

6

1975

9,950.00

600,00

5

1957

9,100.00

500,00

276,613.70

14,527.50

5

1949

5,104.50

250.00

5

1944

10,183.00

500.00

4-1/2

1960

10,000,00

450.00

5

1995

8,883.88

500.00

5

1955

4,400.00

125.00

4-3/4-

1949

9,793.75

237.50

4

1959

9,400.00

100.00

4-1/2

1960

4,765.7£

+

5-1/2

1935

9,779.00

+

5

1963

4,400.00

+

5

1975

9,525.00

500.00

4-3/4

1965

9,475.00

475.00

5

1956

4,862.50

+

5

1943

9,550.00

500.00

5

1977

10,010.00

+

5-1/2

1954

9,555.00

+

4-1/2

2013

4,968.75

225.00

5

2013

7,636.81

250.00

5-1/2

1974

10,260.00

550.00

5

1962

4,353.66

150.00

4-1/2

1969

4,993.75

225.00

5

1948

4,959.16

250.00

4-1/2

1978

9,400.00

+

5

1958

5,045.00

250,00

5-1/2

1980

1,851.55

+

4

1952

8,225.00

400,00

5

1946

9,817.50

+

5

1946

4,962.50
206,151.10

+

5,937.50

5

1946

500.00

+

6-1/2

1938

5,000.00

325.00

6

1941

2,000.00

+

3-4 1/2

3 944

4,937.50

150,00

31

Schedule D-2

SCHEDULE OF ElTOOYkloSM FUND IWESTLSNTS
JUNE 30, 1935

Amount

$5,000
1,000

14,000
8 ,500
5,000
5,000
4,000

38,000
4,000

97,000
$683,000

REAL_ESTaTE BONDS^_Goiitinued

Carman Theatre

The Dorset

Fuller Building

Lemoyne Trust Conpany Guaranteed Certificate

Loutellus Apartments, Pittsburgh

North Avenue Market , Baltimore

Hotel Syracuse, New York

United Brethren Publishing House

University Apartments, Pittsburgh

Total Bonds

MORTGAGES

4,750
5,000
5,000
500
6,000
21,250

Jacob M. gaum

Amos K. Curry

Derry Street United Brethren Chvirch, Harrisburj

Union Trxist Company of Pennsylvania, Harrisburg

P. A. W. Wallace

ALLOTLiENT CERTIFICATES

100 units
235 shares

6.

80 sh.

50

shares

100

It

100

n

50

II

100

n

200

II

60

II

5

11

50

11

100

II

50

II

50

It

60

It

100

11

50

II

70

11

60

II

100

n

Corporation Securities Company of Chicago
Kreuger & Toll Conpany

STOCKS

Agar Pecking and Provisions Corporation

Anaconda Copper

Atlantic Refining Company

Bethlehem Steel Corporet.lon, Preferred

The Borden Company

Burroughs Adding Machine Company

Chase National Bank of New York

Chemical Bank & Trust Company

Durant Motors, Incorporated

Electric Power & Light Company, Preferred

General Electric Company, Incorpor«ted

General Foods Corporation

International Harvester Company

Irving Trust Company

Kennecott Copper

A, S. Kreider Company, Preferred

A, S. Kreider Shoe Company, Preferred

Bank of Manhattan Compaiiy

National Biscuit Company

32

Sohsdula I>-2

SCHEDULE OF ENDOTOIENT FUND INVESTMENTS

JUl-JE 30, 1935

Rate Per Cent

6

6

5-1/2

5

6-1/2

6

6-1/2

6

7

6
6

6
5-1/2

5-1/2
5-1/2

Maturity

Book Value
$5,000.00

Inoome

1940

+

1941

1,000.00

+

1949

14,000.00

|385,00

1929*

8,500.00

425.00

1936

5,000.00

+

1940

5,037.50

300.00

1936-38

4,000.00

+

1934-53

37,890.00

+

1933

4,000.00

+

96,865.00

1,585.00

630,671.16

23,875.00

4,750.00

285.00

1929

5,000.00

+

1929

5,000.00

300.00

500.00

+

6,000.00

330.00

21,250.00

915.00

7,500.00

7,273.51

14,773.51

500.00

+

1,990.43

+

7,000.50

100.00

10,500.27

175.00

4,500.00

80.00

4,000.00

75.90

10,525.00

234,00

4,875.00

108.00

22.50

+

4,500.00

+

5,000.00

60.00

4,500.00

90.00

4,500.00

30.00

4,975.00

60.00

4,000.00

60.00

12,000.00

330.00

4,975.00

105.00

10,000.00

200.00

33

Schedule D-2

SCHEDULE OF ENDOVi/MENT FUUD lOTESTMEITS
JUKE 30, 1935

Amount STOCKS, Continued

200 shares National City Bank of New York

100 " North American Company, Incorporated

84 " Northeastern Water and Electric Corporation, Preferred

21 •• Northeastern V/ater and Electric Corporation, Common

4 " Pennsylvania Power & Light Company, Preferred

5 " Potomac Edison Company, Preferred
50 " Procter & Gamble Company

50 " Radio Corporation

1 " Sheridan-Belmont Hotel Company Participating Certificate

50 " Southwest Gas Company of Oklahoma, Preferred

100 * Standard Brands, Incorporated

100 " Standard Oil Company, Incorporated, of New Jersey

100 " United Gas Improvement Company

100 " United States Steel Corporation
2326.80 Total Stocks

NOTES

Notes from churches and individuals

Total Investments

34

Schedule D-2

SCHEDULE OF ENDOYMENT FTOD INVESTMENTS

jmm 30, 1935

Rate Per Cent Maturity

Book Value

Income

$11,200.00

$166.66

10,000.00

84.88

10,341.00

168.00

388.00

+

500.00

35.00

4,750.00

85.00

715.32

+

500.00

+

4,900.00

3,500.00

100.00

9,600.00

125.00

7,000.21

115.00

10,500.00

+

172,258.23

2,587.44

24,636.71 314.24
$911,065.86 $27,691.68

35

Exhibit E

STATEMENT OF FIMT FUNDS
YEAR ENDED JUNE 30, 1935

(l) Unexpended Plant Funds
Balance July 1, 1934

Additions during years

1. Amount transferred from Current Funds

None

!,079.42
i, 079, 12

Deductions during year:

a. Motorized valve, valve sets, sewer rods

and mower for Heating Plant

b. Musical instmjments

o. Records, victrola case, motor for
Conservatory

d. Office equipment

e. Oscillograph for Physics Laboratory
Studio couch, cabinet, mats, toaster,

kodak and electric sweeper
Remodeling basement at east end of Men's

Dormitory for L Club room
Steel files, tray unit and book cases

for Library
Books for Library
Bleachers for athletic field
k. Capacity meter and oscillator with

cases for Physics Laboratory

f.

h.
i .

1121.91
1,594.31

33.99
23.06
84.50

269.63

680.41

609.55
1,700.00
2,871.00

90.76

Balance June 30, 1935

(2) Invested in Plant

Value of Plant July 1, 1934
Additions during year, as above

Value of Plant, June 50, 1935,
Exhibit A, Section IV

!,079.12

None

1644,945.63
8,079.12

$653,024.75

36

Schedule B-1

PLMIT FUiroS ASSETS
JimE 50, 1955

Book Value

Book Value

July 1,

June SO,

Erected

1954

Increase

1935

Lands:

Athletic Field

15,000.00

$5,000.00

Campus

54,000.00
59,000.00

54,000.00
59.000.00

Undergro\ind Heating and

Plumbing System

17,089.59
17,089.59

17,089.59
17,089.59

Buildings:

Administration

1905

157,170.25

157,170.25

Conservatory Annex

5,662.49

5,662.49

Engle Hall

1899

68,000.00

68,000.00

Heating Plant

12,500.00

12,500,00

Carnegie Library

1904

59,250.00

59,250.00

Men' s Dormitory

1905

85,110.14

680,

.41

85,790.55

North Hall for Vifomen

1904

87,111.91

87,111.91

Pre si dent ' s Home

1900

9,145.60

9,145.60

South Hall for Women

1857

22,611.85

22,611,83

West Hall for Women

12,106.81
494,469.05

12,106.81

680,

.41

495,149.44

Equipment:

Auditorium

2,700,00

2,700.00

Dining Hall and Kitchen

6,828.80

6,828.80

Class Room Furniture

4,900.00

4,900.00

Conservatory Class Room

Furniture and Apparatus

440.00

55,

.99

475,99

General Furniture and Apparatus

11,826.29

269,

.65

12,095.92

Athletic Field and Gymnasium

2,500.00

2,871.

.00

5,371.00

Heating Plant

2,877.50

121,

.91

2,999.41

Biology Laboratory

7,255.50

7,253.50

Chemistry Laboratory

8,000.00

8,000.00

English Department — Trantern

slides and equipment

1,000.00

1,000,00

Physics Laboratory

4,525.50

175,

.26

4,500.76

Library

550.00

609,

.55

1,159.55

Books in Library

15,400.00

1,700,

,00

15,100.00

Museum Furniture

4,250.00

4,250.00

Musical Instruments

18,685.92

1,594,

.51

20,280.23

Office Equipment

4,519:70

25.

.06

4,542.76

y. M. C. A. Room y

550.00
94,587.21

550.00

7,598,

jTl

101,785.92

Total Plant Funds Assets

1644,945.65

♦8,079.

.12

33S

#653,024.75

37

EXTENSION DEPAETMENT
YEAR ENDED JUNE 30, 1935

Income :

First Semester |415,00

Second Semester 378.00

Total Income i79S.OO

Expenses;

Salaries paid to Faculty 600.00

Traveling and miscellaneous expenses 257.79

Total Expenses 837.79

Net Loss 144.79

SUMMER SCHOOL REPORT
JUNE 30, 1935

Income;

Registration $64.00

Tuition 2,268,00

Boarding 480,00

Room Rent 168.00

Profit on sale of books 19.21

Total Income $2,999.21

Expenses;

Salaries paid to Faculty 1,820,80

Paid to C. R. Gingrich for Boarding 480,00

Registration and Room Rent retained by

college 232.00

Miscellaneous expenses 264.04

Ten per cent retained by college 202.37

Total Expenses #2,999.21

38

STATRMKNT OF MUSIC SCHOOL INCOlffi AND EXPENSES

YEAB ENDED JUNE 30, 1935

First

Second

Both

INCOME

Semester

Semester

Semesters

Instruction:

Voice

♦l„681.75

$1,578.00

13,259.75

Piano

1,867.00

1,869.00

3,736.00

Organ

400.00

375.00

775.00

Violin

625.00

600,00

1,225.00

Instruments of Band and

Orchestra

496.50

474.50

971.00

Theory-

3,423.00

3,220.50

6,643.50

8,493.25

8,117.00

$16,610.25

US e of Instrumonts for

Practice:

Organ

233.00

210.00

443.00

Piano

375.00

346.00

721.00

Instruments of Band and

Orche atra

263.00

246.00

509.00

871.00

802.00

1,673.00

Total Income

$9^364.25

18,919.00

18,283.25

EXPENSES

Salaries

$19,625.14

Practice teaching for Seniors,

including transportation

490.80.

Tuning, repairs, and use of

motor for organ

852.76

Total Expenses

20,968.70

Nat Loss

$2,685.45

39

STATiatENT OF DOEMITOEI INCOME AKD EXPENSES
YEAR ENDED JUNE 30, 1935

INCOME

Rental s t

Mea' s Dormitory

18.

,448,

.12

North Hall

3,

,887,

.94

South Hall

1.

,698,

.00

West Hall

1.

,060.

,00

Gruber' s

104,

,00

Dining Hall

4.

,500.

,00

Leadership Training Sohool

—

?5.

,00

119,773.06

Breakage Fees

364.19

Cleaning Fees

664.25

Total Inoom©

120,801.50

EXPENSES

1

Care of Buildings and Furnitxire

15,029.46

Gas

3e00

Heat

4,264.37

Light end Power

1,804.77

Miscellaneous

92.32

Operating Supplies

84.40

Property Insuranoe

582.72

Rent

104.00

Repairs and Maintenance of Buildings

and Bquipment

819.04

Telephone

142.25

Water

542.38

Total Expenses

$11,468.71

Net Profit

19,332.79

40

INCOME

REPORT OF mmm hall

YEAR ENDED JUNE 30, 1955

Studsnts' Board
Sale oi' meals to others
Sale of food and operating supplies
Rent for use of Dining Room
Total Income

Cost of meals J materials and supolies only:
Inventory July 1, 1934
Purchases

Inventory June 30, 1935

Cost of meals, materials and supplies
only

Gross Profit before Operating Expenses

EXPENSES

Operating Expenses:
Salaries and Wages
Gas

Laundry
Light

Miscellaneous
Operating Supplies
Renewals and Repairs
Rental
Telephone
Water

Total Operating Expenses

Deficit

1,103.50

480.93

21.47

25.00

1,438.63

21,942.49

23,381.12

987.19

^9,531.36
249.07
399.42
611.00
107.20
335.72
454.05

4,500.00
35,00
94.00

$38,630.90

22,393.95
$16,236.97

$16,316.82
$79.35

41

STAT2MSHT OF lABOEATORY INCOME AND EXPENSES
YEAR ENDED JUNE 30, 1935

Psyoh-
Biology Chemistry Physios ology Total
Inoome:

Fees 11,998.00 |1, 824.00 $362.50 #67.00 $4,251.50

Breakage Inoome 15.65 30>5.O6 ___^__ _____ 518.70

2,013.65 2,127.05 362.50 67.00 4,570.20

Expenses;

Inventory July 1, 1934 250.00 1,250.00 50.00 1,550.00

Purohases 971.46 718.81 58.02 2.71 1,751.00

1,221.46 1,968.81 108.02 2.71 3,301.00

Inventory June 30, 1935 275.00 1,200«00 50.00 1,525.00

Cost of supplies used 946.46 768.81 58.02 2.71 1,776.00

Net Gain |l,067.19 #1,358.24 #304.48 $64.29 #2,794.20

ass ii III ■!

EEPOET OF LIBRASy

YEAR ENDED JUBfE 30, 1935

InoQiae t

Matrioulation Fees #379.15

Endowment Fund 61.25

College Departments 1,082.46

#1,522,87

Expenses;

Books and magazines 1,246.94

Salaries 3,332.25

Supplies and Binding Expense 164.95

Special s for Departments 1,082-. 46

5,826.60
Deduot for items added to capital investment 1,700«00

4,126.60

Deficit #2,603.75

42

DONATIONS TO LEBANON VALLEY COLLEGE FOR SPECIAL PURPOSES

YEAR ENDED JUNE 50, 1935

CASH CONTRIBUTED TO CURRENT ACCOUNT

For Books, Supplies, Binding, etc. for Library,

from Departments:

Bible

#85.88

Biology

33.42

Book Department

709.14

Business Administration

16.03

Chemi stry

61.00

Economios

8.32

Education

14.98

English

22.11

French

1.60

German

1.50

History

17.98

Latin

12.12

Mathematics

^ 24.50

Philosophy

2.00

Physics

21.53

Miscellaneous

50.35

11,082.46

Alumni — For salary of Secretary

100.00

L. V. C. Band — Band Uniforms

14.59

Athletic Coxmcil — Bleachers

2,000.00

Athletic Council — For salary of Publicity Director

500.00
♦3,697.05

BOOKS PRESENTED TO LIBRARY

In addition to the above, books and periodicals were contributed to
the Library by the following:

Books Number of Volumes Value

TJ. S. Blecher 284 |150.00

R, R. Butterwick 38 45.00

A. Buzcell and W. Smith 1 3,00

Rabbi Davidson 1 3.50

I. H. Doutrich 14 14.00

Ameda Ellenberger 11 8,00

C. A. Gingrich 1 2.00

Jewish Conmunity Center 1 3.00

J. J. B. Light 6 6.00

0. E. Reynolds 2 4.00

P. A. W. Wallace 12 10.00

H. H. Shenk 2 4.00

Miscellajieous 80 90.00

Wigton Family 101 120,00

Music Department 146 146.00

President' s Office 5 10.00

Periodicals |618,60

Wistar Institute 5 50.00

Miscellaneous 35 45,00

United Brethren Church 3 3.83

43

ANALYSIS OF HEATING PLANT EXPENSE
YiiAR ENDED JUNE 30, 1935

Fuel, in6luding freight and drayaga $4,414.24

Hauling ashes 16,00

Insurance 105.46

Light and Power 696.80

Miscellaneous 8.08

Repairs 630,10

Vfeges 2,493,15

Supplies 17,80

Telephone 54.10

Water 105.00*

Distribution of Heating Plant Expense

1,538.73

Heating Physioal Plant #4,269.36

Heating Dormitories 4,269.37

#8.538.73

ANALYSIS OF FARM DEFICIT ACCOUNT
YEAR ENDED JUNE 30, 1935

:^3t Berlin Farm

Deficit July 1, 1934 $636.86

Deduct, Net Profit for year 613.95

Deficit June 30, 1936 $22.91

Shiremanstown Farm

Deficit July 1, 1934 $3,471.93

Deduct Net Profit for year 684.53

Deficit June 30, 1935 2,787.40

Total Farm Deficit June 30, 1935,

to Exhibit A, Sec. Y $2,810.31

44

FAEM RSPOKTS, YE^ E»DBD JUNE 50, 1935
EAST BERLIN FAEM

INCOME

Aug. 27, 1934 East Berlin Milling Company:

504-37/56 bus. corn at 75/ $378.49

Oct. 18, 1934 ViT. Denton layers:

56-40/60 bus. wheat at 86/ 48.72

210 bus. oats at 40/ 84,00

192-25/60 bus. wheat at 92^ 177.02
185-4/60 bus. wheat at 96/ 177.67

Oct. 26, 1934 C. A. Crowl:

41 bus. corn at 70;i 28.70

8 bus. wheat at 90/ 7.20

7 bus. wheat at 78/ ^ 5.46

May 6, 1935 R. E. Rohrbaoh:

Dead wood Pigeon Hills tract 125,00

June 13, 1935 W. Denton Myers:

306-l/l4 bus. corn at 85/ 262.20
Total Income

EXPENSES

Aug. 3, 1934 H. I. Phillips— Insurance $22.54
Aug. 27, 1934 Gregory F. Gebhardt — School tax

for 1934 40.02

Aug. 27, 1934 Samuel D. Kling— Shingles for barn 282.77
Oct. 18, 1934 W. Denton Myers — Seed, cement,

fertilizer 160.31
Oct. 26, 1934 C. A. Crowl — Lumber, boarding and

labor 19,75

Nov. 26, 1934 N. B. Sprenkle— Dynamite and fuse 2,64

Jan. 19, 1935 Samuel D. Kling — Spouting and labor 12.26

May 21, 1935 D. B, Lease — Painting Summer House 9.30

May 21, 1935 Burtus Eisenhart — Seed oats 11,90
Jime 6, 1935 Adams Co\mty Mutual Fire Insurance

Company- -Insurance 22.50

June 6, 1935 D. B. Lease — Painting & papering 36.50
June 13, 1935 W. Denton Myers--Fertili2!er, lime,

plaster and sash 60.02
Total Expenses

Net Profit

$1,294.46

45

FARM REPORTS, YEAR ENDING JUNE 30, 1935
SHEREMANSTOWN FARM

INCOME

July 26, 1934 Frank Ebarlyi

510-38/60 bus. urtieat at .87 |444.26

Aug. 17, 1934 Fraiak Eljerlyt

537-42/56 bus. corn at .70 376.43
May 28, 1S35 Frank Eberly:

916-48/56 bus. corn at .83 760.99

♦1,581.67

Aug.

xo.

XSK>t

Aug.

27.

1934

Aug.

27.

1934

A\ig.

27,

1934

Aug.

27,

1934

Aug.

27.

1934

Aug.

27,

1934

Aug.

31,

1934

Sep.

28,

1934

Sep.

28,

1934

Sep,

28,

1S34

Sep.

28,

1934

Oot.

11,

1934

Oct.

11,

1934

Nov.

13,

1934

Not.

19,

1934

Deo.

10,

1934

Jan.

19.

1935

Jan.

19,

1935

Feb.

11,

1936

May

13,

1935

May

21,

1935

May

21,

1935

May

21,

1935

June

6,

1935

J\ine

14.

1935

EXPENSES

Annrille National Bank — Interest on

note of $2,200 for ninety days $33.02
Annie G. Witter— 1934 State and

County Tax 53.22
Co\mtrymen' s Mutual Fire Insurance

Company — Insurance 5,30
W. S, Franklin— Labor: shad roof, get© 20,02

J. P. Bixler & Sons — Roof materials 45.88

Hitter's Her dwaro— Fencing wire 28,02

Coover Miller — Building fence 16,42
Tax on checks charged Accounts Payable .08

^nie G. Witter— School Taxes 140.02

Wm. S. Frar<klin-- Carpenter work 26.02

Tom E. Matlock— Lumbar 24.15

Milleisen's Lumber Co.— Lumber 6.32

M. C, DietE«s Sons— Fertilizer 70.92
Mutual Fire Insurance Co. of Annville--

Insuranoe 6.18

Tax on cheek ,02
AiaiTille National Bank — Interest on

note of $2,000 for ninety <feys 30,02

C. M. Reitzel— Painting farm house 90,02

Harry Zimmerman— Interest on loan 50.02

S» Edith Swart i — ^ire Insurance 13.36
J. P. Bixler & Sons — Hinges, bolts,

roofing 8.40
Annville National Bank — Interest on

note of $2,000 for xiinety days 30,00
Annville National Bank — Interest on

note of $2,000 for ninety days 30.00

H. C. Diets' 8 Sons— Fertilizer 26.65
Frank Eberly — Alfalfa, alsike,

nitrogen 44.30

Annie 6. Witter— Road tax 1935 39.90

M. C. Diets' 8 Sons— Fertiliser 8.88

Harry Zimmerman— Interest on loan SO. 00

Total Expenses

Net Profit

$897.14
$684.53

46

AUDITING COMMITTBE REPORT

To the Board of Trustees of Lebanon Valley Colleges

Gentlemen: — Following the praotioe of recent years, yovir auditing
conEnittee seoured the services of a certified public accountant tc
audit the accounts of S. H. Deriokson, Treastirer of the College,

The audit was made by Charles E. Prooasoo, C. P. A. of Harrisburg.

We submit as our report his certification, which follows:

H. B. Schaeffer
R. M. Rife
0. W. Stover

Committee

Charles E. Prooasoo, C. P. A*

Mechanics Trust Building

Hairrisburg, Pa.

Hemiber of Amerioaji Institute of Accountants
Member of ^tional Association of Cost Aoocaintants

August 17, 1935

Board of Trustees,
Lebanon Valley College,
Anaville, Pennsylvania,

Gentlemen:— Pursuant to instructions received from your Fine-nce
Committee, I have audited the assets, liabilities, and funds of

LEBANON VALLEY COLLEGE
Annville, Pennsylvania

for the year ended June 30, 1935, also the financial statements includ-
ed in -tiie foregoing report of your Treasurer, Mr, S. H. Deriokson,

Cash receipts and disbijrsements for all funds were audited in
detail, cash balances, confirmed, receivables verified, and all invest-
ments exandned or otherwise properly accounted for. Plant additions
were determined to be proper capital charges,

Hotes payable were confirmed and all other ascertainable liabii-
ities computed and included in the acc<Hiipanying balance sheet.

Sufficient tests were made of the income and expense accounts to
assure, with reasonable accuracy, the correctness of the year's operating
result reflected by the annexed profit and loss statement,

I hereby certify that the financial statements, as herewith sub-
mitted, are in agreement with the books of account, -a^ich were found to
be oorraot.

Respectfully submitted.

C. E. Prooasoo
Certified Public Accountant

47