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Full text of "Lebanon Valley College Report of the Finance Committee"

Lebanon Valley College 

BULLETIN 

Vol. XXV OCTOBER, 1936 No. 7 



REPORT OF FINANCE COMMITTEE 

FOR FISCAL YEAR 

ENDING JUNE 30, 1936 



To be Presented to the Board of Trustees at their 
Annual Meeting, Friday, June 4, 1937 



A Supplement to this report will give figures for the 
school year 1936-1937, to June I, 1937 



Entered as Second-Class matter at Annville, Pa., under the A t ol August -'4, 1912 



TABLE OF COKTENTS 



Comments, Chairman of the Finance Committee 3 

Comparative Ealance Sheet 4 

Condensed Comparative Statement of Current Income and Expenses... 6 

Statement of Current Funds 8 

Statement of Current Income 9 

Statement of Current Expenses .....11 

Statement of Endowment Income 14 

Details of Current Fund Adjustments 20 

Condensed Statement of General Fund Cash Receipts and 

Disbursements 21 

Statement of Cash Receipts and Disbursements, Endowment 

Income Account 23 

Statement of Loan Funds 24 

Statement of Endowment and Other Fon-Expendable Funds 25 

Schedule of Endowment Fund Investments 26 

Statement of Plant Fund s 34 

Plant Fund Assets 35 

Extension Department 36 

Summer School Report 36 

Saturday School Report 37 

Statement of Music School Income and Expenses 38 

Statement of Dormitory Income and Expenses 39 

Report of Dining Hall 40 

Statement of Laboratory Income and Expenses 41 

Report of Library 41 

Donations to Lebanon Valley College for Special Purposes 42 

Analysis of Keating Plant Expense 43 

Analysis of Farm Deficit Account 43 

Statement of East Berlin Farm Income and Expenses 44 

Statement of Shiremenstown Farm Income and Expenses 45 

Audit Certificate 46 

Student Enrollment 47 

Funds from the K. Y. A 47 



To the Poard of Trustees of Lebanon Valley College: 

The Finance Committee presents the following report of the 
finances of the college for the fiscal year ending. June 30, 1936. 
The figures found in this year's report are directly comparable with 
those of last year since both cover a twelve-month period. 

Income and E xpenditures 

Foth income and expenditures for the year show an increase over 
those of the preceding year. The increase in income was, however, 
proDortionately larp-er than the increase in expenditures, as a result 
of which a net profit of v4,197.98 for the year in actual operating 
expenses is shown by the report, in favorable comparison with a loss 
of twice that amount in the operating account of the previous year. 
The deficit shown in the balance sheet for the year's total receipts 
and expenditures is due to additions to plant made out of current 
funds, amounting to nearly £18,000. These additions to plant are 
accounted for in larre par" 1- by the new pipe organ installed in the 
summer of 1935. 

Throurhout the year only sucn expenditures were authorized by 
the Committee for repairs and replacements as represented necessities 
or economies. 

Endowment Fund 

During this critical period it has been the constant purpose of 
the Committee to improve the position of the College with respect 
to its Endowment Fund. Constant scrutiny of the trends in various 
fields of investment has been exercised and the best sources of invest- 
ment information and advice have been continually consulted. Prompt 
action in accord with the conclusions resulting from such watchfulness 
has enabled the Comma ttee to make notable progress toward the restor- 
ation of the fund to its pre-depression level. A continuation of 
the policy that has been pursued promises to further enhance the cash 
value of the investments. 



J. R. EFGLE, 
Chairman, Finance Committee 



Exhibit A 

COMPARATIVE BALANCE SHEET 
JUNE 30, 1936 AND 1935 



ASSETS 



I Current Funds : 
A General: 

Cash 

Investments, Notes Rec'vable 
Accounts Rec'vable, Students 
Advances Rec'vable, Farm 

Account 
Dining Hall Supplies 
Laboratory Supplies 
Summer School Expenses, 

Prepaid 
Y.M.C.A. Expenses, Prepaid 
Prepaid Insurance 
Deficit 

B Restricted: 
Cash 

II Loan Funds : 

Cash 

Notes Receivable 



June 50, 
1S56 



$2,615.25 
11,984.87 
16,459.47 

1,474.89 
1,103.34 
1,800.00 

99.05 

2.75 

388.27 



June 30, 
1935 



Increase Decrease 



$1,560.55 $1,054.70 
12,123.18 
14,397.49 2,061.98 



2,232.19 

987.19 

1,525.00 



116.15 
275.00 



104.70 

2.75 
1,941.19 



$138.31 



757.30 



5.65 



1,552.92 



III Endowment and Other Non-Expendable Funds; 

Cash 81.02 

Bonds 650,026.74 

Stocks 175,064.89 

Allotment Certificates + 

Mortgages 21,750.00 

Notes Receivable 22,356.71 

Real. Estate (Farms) 47,476.25 



32,508.71 


18,767.32 


13 


,741.39 




68,436.60 


53,638.81 


14 


,797.79 




1,557.39 


1,395.38 




162.01 




69,993.99 


55,034.19 


14 


,959.80 




2,213.13 
4,138.25 


1,902.19 
3,756.65 




310.94 

401.62 




6,351.38 


5,658.82 




712.56 





IV Plant Funds : 

Lands 

Underground Keating and 

Plumbing System 
Buildings 
Equipment 

V A gency Fu nds. 
~~ " Cash 

Advances Receivable from 

General tund 
Farm Improvements 
Farm Deficit 



531.87 450.85 

630,671.16 19,355.58 
172,258.23 2,806.66 
14,773.51 14,773.51 

21,250.00 500.00 

24,636.71 2,280.00 

47,476.25 _ 

73 -_ 5", 157.86 " __ 



916,755.61 911,597.73 5,157.86 



39,000.00 39,000.00 



17,089.39 
495,219.84 
110 ,654.89 
661,964.12 

520.99 

183.19 
2,500.00 
2,578.99 



17,089.39 
495,149.44 
101,785.92 



70.40 
8,868.97 



653,024.75 8,939.37 



914.86 



5,783.17 



183.19 
2,500.00 
2,810.31 
6,408.36 



393.87 



231.32 

62 5*. 19 



Total Assets 



1 , 660,848.27 1 ,651, 7 03. b5 29,144.42 



Exhibit A 



LIABILITIES AND FUNDS 



COMPARATIVE BALANCE SHEET 
JUNE 30, 1936 AND 1935 



June 30, June 30, 
1936 1935 



Increase Decrease 



I Curr ent Funds ; 
A General-: 

Notes Payable 
Accounts Payable 
Accounts Payable, Agency 

funds 
Students' Deposits 
Reserve for Doubtful 

Accounts 

B Restricted: 
Funds 

II Loar. Fu nds : 

Funds 



III Endowment and Other Non-Expendable Funds 

Endowment Funds: 
General 
Restricted 

Annuity Funds 

IV Plant Funds : 

Net Investment in Plant 



V Agency Funds : 

Notes Payable, Farm 

Account 
Advances Payable, Farm 

Account 
Funds 

Total Liabilities 
and Funds 



$56,866.40 $38,500.00 $18,366.40 

3,973.74 8,226.48 $4,252.74 



183.19 
1,613.27 

5,600.00 


183.19 
1,729.14 

5,000.00 




84.13 
600.00 


68,436.60 


53,638.81 


14 


,797.79 


1,557.39 


1,395.38 




162.01 


69,993.99 


55,031.19 


14 


,959.80 


6,351.38 


5,638.82 




712.56 



684 : 
229 


,963.91 
,391.70 


683.. 
225 


,426, 
,771, 


.03 
.70 


1, 

3 


,537.88 
,620.00 


914 
2, 


,355.61 
,400.00 


909 . 
2 


,197, 
,400, 


.73 
.00 


5, 


,157.88 


916, 


,755.61 


911, 


,597, 


.73 


5 


,157.88 


661, 


,964.12 


653, 


,024, 


.75 


8, 


,939.37 



4,000.00 4,000.00 



1, 


,474.89 2,232.19 
308.28 176.17 132.11 


757.30 


5 


,783.17 6,408.36 


625.19 


1,660. 


,848.27 1,631,703.85 29,144.42 





Exhibit B-l 

CONDENSED COMPARATIVE STATEMENT OF CURRENT INCOME AND EXPEMSES 
(Excluding Receipts and Disbursement a of Restricted Funds 
for Non-Educational Purposes) 

July 1 '35 July 1 '34 
to to 
INCOME June 30 '36 June 30 '35 Increase Decrease 

I Educational and General : 
[1] Student Income: 

School of Liberal Arts 

and Sciences #66,391.87 $64,656.20 §1,735.67 
Auxiliary Educational 

Schools 30,648.14 23,068.46 7,579.68 

97,040.01 87,724.66 9,315.35 

(2) Endowment Income 27,194.01 22,874.87 4,319.14 

(3) Gifts and Grants 6,977.05 5,644.87 1,332.18 

(4) Other Sources 3,318.46 2,780.87 537.59 

Total Educational 

and General Income 134,529.5 3 119,0 25.27 15,504.26 

II Auxiliary Enterprises and 

Activities ! 

(1) Dormitories 21,247.45 20,801.50 445.95 

(2) Dining Hall 39,545.91 38,605.90 940.01 

(3) Placement Bureau Income 49.00 45.00 4.00 

(4) Leadership Training 

School Income 676.57 854.90 17e.S3 

Tot6l Income, Auxiliary 

Enterprises and 

Activities 61,518.93 60,307.30 1,211.63 

III Income for Kon-Educational 

Purposes 1,759.09 1,090.61 668.48 

* — *~^—~ ■ ■ ■ i ■ i i pwaa—i ii i — 

Total Income 197,807.55 ie0,423.18 17,384.37 

Total Expenses, 

Forwarded 193,609.57 189,009.96 4,599.61 

Net Profit (♦) or Loss (-) 
before deducting addi- 
tions to Plant from 
Current Funds 4,197.98+ 8,586.78- 12,784.76 

Additions to Plant from 

Current Funds 17,939.37 8,079.12 9,860.25 



Net Loss after deducting 
additions to Plant 
from Current Funds ♦13,741. 39 16,665.90 2,924.51 



Exhibit B-l 

CONDENSED COMPARATIVE STATEMENT OF CURRENT INCOME AND EXPENSES 
(Excluding Receipts and Disbursements of Restricted Funds 

for Non-Educational Purposes) 

July 1 '35 July 1 '34 
to to 
EXPENSES June 30 '36 June 30 '35 Increase Decrease 

I Educational and General ; 

(1) General Administration 

and Expense §27,775.57 $26,253.18 $1,522.39 

(2) Instruction and Research! 

School of Liberal Arts 

and Sciences 66,139.98 68,309.81 2,169.83 

Auxiliary Educational 

Schools 

(3) Library 

(4) Operation and Maintenance 

of Physical Plant 

Total Educational and 
General Expenses 

II Auxiliary Enterprises and 

Activities : 

(1) Dormitories 12,625.39 11,468.71 1,156.68 

(2) Dining Hall 38,797.89 38,685.75 112.14 

(3) Placement Bureau 41.84 32.26 9.58 

(4) Leadership Training School 

Total Expenses, 
Auxiliary Enterprises 
and Activities 

III Other Non-Educational 

Expenses 



28,300.04 


6 D p 0£ «Ou 


2 


,947.71 


94,440.02 


93,662.14 




777.88 


4,811.69 
10,911.08 


4,126.60 
10,551.11 




685.09 
359.97 


137,938.36 


134,593.03 


3 


,345.33 



L 781.72 


866.40 




84.68 


52,246.84 


51,053.12 


1,193.72 




2,824.37 


1,863.81 


960.56 





Total Expenses before 

Reserve Provisions 193,009.57 187,509.96 5,499.61 

Reserve Provisions: 



Provision for Doubtful 

Accounts Receivable 600.00 1,500.00 900.00 

Total Expenses $195,609.57 189,009.96 4,599.61 



Exhibit B 

STATEMENT OF CURRENT FUNDS 
YEAR ENDED JUNE 30, 1936 



Balance at beginning of year None 

Add: 

t,l) Current educational and general 

jncorae, per Schedule B-l, Sec. I $134,529.53 

(2) Income auxiliary enterprises and 

activities, per Schedule B-l, 

Sec. II 61,518.93 

(3) Income non-educational purposes, 

per Schedule B-l, Seo. ill 7,717.76 

#203,766.22 

(4) Adjustments, per Schedule B-4 356.61 

204,122.83 

Deduct: 

(1) Current educational and general 

expenses, per Schedule B-2, Sec. I 138.538.36 

(2) Expenditures of auxiliary enterprises 

and activities, per Schedule B-2, 

Sec. II 52,246.84 

(3) Other l.on-educational expenses, per 

Schedule E-2, Sec. Ill 8,903.06 

(4) General funds transferred to plant 

funds, per Exhibit E, Sec. I 17,939.37 

217,627.63 

(5) Adjustments, per Schedule B-4 236.59 217,864.22 

Deficit for year ended June 30, 1936 13,741.39 

Add, Deficit July 1, 1935 18,767.32 

Deficit June 30, 1936, to Exhibit A, Section I $32,508.71 



Schedule B-l 



STATEMENT OF CURRENT INCOME 
YEAR ENDED JUNE 30, 1936 



I Educational and General ; 
(1) Student Income i 

A School of Liberal Arte and Sciences i 



Tuition 

Less, Scholarships 
Matriculation Fees 
Biology Fees 
Chemistry Fees 
Physics Fees 
Psychology Fees 
Practice Teaching Fees 
Graduation Fees 

B Auxiliary Educational Schools: 
Extension School 
Music School 
Saturday School 
Summer School 

(2) Endowment Income (Schedule B-3) 

Unrestricted 
Restricted/ 

(3) Gifts and Grants 

Benevolence, Conference 
Other 



(4) Other Sources t 

Chemical Analysis by Dr. Bender 
Group Life Insurance 
Interest on Current Funds 
Library Income 

Total Educational and General 
Income, to Exhibit B 



$68,602.65 
11,417.04 



$57,185.61 
1,595.96 
2,205.30 
2,249.00 
420.00 
126.00 
1,155.00 
1,455.00 



$66,391.87 



1,220.00 
25,585.50 
1,575.00 
2,267.64 30,648.14 



24,410.98 
2,783.03 27,194.01 

5,753.42 

1,223.63 8,977.05 



172.10 
546.48 
601.19 

1,998.69 3,318.46 



134,529.53 



II Auxiliary Enterprises and Activities } 

(1) Dormitories! 

Rentals 
Breakage Fees 
Cleaning Fees 

(2) Dining Hall ; 

Students' Board 

Sale of meals to others 

Sale of Food and Operating Supplies 



20,354.32 
262.83 
630.30 21,247.45 



38,883.50 

637.28 

25.13 



39,545.91 



Schedul* B-l 

STATEMENT OF CURRENT INCOME 
YEAR ENDED JUNE SO, 1936 



II Auxiliary Enterprises and Activities , Continued: 

(3) Placement Bureau Income $49.00 

(4) Leadership Training School Income 676.57 

Total Income Auxiliary Enterprises 

and Activities, to Exhibit B 61,518.93 

III Income for Non-Educational Purposes : 

Day Students' Fees for Janitor Service 

and Breakage $315.90 

Unexpended Student Activity Fees 965.80 

Scholarship Funds (Schedule B-3) 5,276.19 

Student Loan Funds n " 500.73 

Prize Funds " " 61.75 

Annuity Funds n " 120.00 

Miscellaneous 477.39 

Total Income for Non-Educational 

Purposes, to Exhibit B 7,717.76 

Total Income to Exhibit B $203,766.22 



10 



Schedule B-2 

STATEMENT OF CURRENT EXPENSES 
YEAR ENDED JUNE 30, 1936 



I Educational and General ; 

(1) General Administration and Expense : 
A General Administrative Offices: 
Miscellaneous 
Office Supplies 
Postage 
Salaries 

Stationery and Printing 
Telephone and Telegraph 

B General Expense: 

Advertising, General 

Bulletins and Catalogues 

Alumni Expense 

Alumni Secretary, Salary and 
Expense 

Accounting Services and Expenses 

Commencement Expenses 

Diplomas 

Compensation Insurance 

Group Life Insurance 

Lecture Expense 

1'embership Dues 

Miscellaneous 

Press Service 

Student Solicitation Expense 

Travel and Entertainment j 

Faculty 226.40 

Officers 1,093.99 

Trustees 19.20 



(2) 



$229.27 
316.07 
418.97 
15,538.28 
514.95 
146.43 $17,163.97 



431*49 
€97.26 
101.11 

810.60 

258.45 

214.90 

279.74 

297.01 

1,334.74 

117.00 

194.25 

910.65 

1,188.26 

2,436.56 



1,339.59 



Provision for Doubtful 












Accounts Receivable 






600.00 


11,211.60 


$28,375.67 


Instruction and Research! 












A School of Liberal Arts and 


Sciences: 








Salaries, Faculty 




61 


,960.60 






Student Assistants 




1 


,436.90 


63,397.50 




Practice Teaching 








557.00 




Departmental Expenses t 












Biology Laboratory 




1 


,248.77 






Chemistry Laboratory 






793.75 






Phj'sics Laboratory 






141.24 






Psychology Laboratory 






1.72 


2,185.48 


66,139.98 


B Auxiliary Schools: 












Extension School: 












Faculty Salaries 






800.00 






Traveling and Viscellar 


ieous 










Expense 






327.00 


1,127.00 





11 



Sohedule B-2, Continued 

STATEMENT OF CURRENT EXPENSES 
YEAR ENDED JUNE 30, 1936 

I Educational and General : 

(2) Instruction and Research ; 

B Auxiliary Schools: Continued 
Music Schooli 

Faculty Salaries $22,150.12 

Practice Teaching, Salaries 

and Expense 944.32 

Tuning, repairs, etc. 616.14 

Music 111.94 

Stationery and printing 42.90 $23,865.42 

Saturday Schools 

Faculty Salaries 1,341.90 

Summer School: 

Faculty Salaries 1,159.02 

Miscellaneous Expense 544.70 

Boarding Expense 262.00 1,965.72 $28,300.04 

(3) Library : 

Books and Magazines 1,055.56 

Salaries 3,536.20 

Supplies and Binding 219.93 4.811.69 

(4) Operation and Maintenance of 

Physical Plant : 

Care of Buildings and Furniture 1,937.64 

Care and Maintenance of Grounds 883.33 

Heat 3,994.80 

Light and Power 1,086.41 

Mis a'laneous 69.75 

Operating Supplies 88.50 

Planting Expense 5.00 

Property Insurance 1,027.50 
Repairs and Maintenance of Buildings 

and Equipment 1,434.97 

Taxes 15S.50 

Water 223.68 10,911.08 

Total for Educational and General 

Expenses, to Exhibit B 138,53 8.36 

II Auxiliary Enterprises and Activities : 
(1) Dormitories": 

Care of Buildings and Furniture 3,326.29 

Heat 4,033.55 

Light and Power 2,172.16 

Miscellaneous 42.72 

Operation Supplies 149.15 



12 



Schedule B-2, Continued 

STATEMENT OF CURRENT EXPENSES 
YEAR'EKDED JUKE 30, 1936 

II Auxiliary Enterprises and Activities t 

(1) Dormitories: 

Property Insurance $582.72 

Rent 174.00 
Repairs and fi'sir.tenance of Buildings 

and Equipment 1,660.55 

Telephone 106.74 

Water . 377.51 $12,625.39 

(2) Dining Hall ; 

Salaries and Wages 8,892.83 

Food 23,307.24 

Gas 193.24 

Laundry 459.01 

Light 552.20 

i'dscellaneous 108.00 

Operating Supplies 229.77 

Renewals and Repairs 481.38 

Rental 4,480.00 

Telephone 24.34 

Water 69.88 38,797.89 

(3) Placement Bureau ; 

Expenses 41.84 

(4) Leadership Training School ; 

Expenses 781.72 

Total Expenses, Auxiliary Enterprises 

and Activities, to Exhibit B 52,246.84 

III Other Kon-Educational Expenses ; 

Interest on Loans 2,749.95 

Debating Expenses 74.42 

Scholarships (Schedule B-3 ) 5,396.96 

Student Loan Funds (Schedule B-3) 500.73 

Prizes (Schedule B-3) 61.00 

Annuities (Schedule B-3) 120.00 

Total Kon-Educational Expenses, 

to Exhibit B 8 , 903 .06 

Total Expenses to Exhibit B $199,688.26 



13 



Schedule B-3 

STATEMENT OF ENDOTVMENT INCOME 
FOR THE YEAR ENDED JUNE 30, 1936 



I Unrestricted: 

For Educational Purposes 

II Restricted: 

A For Educational and General Purposes: 

1. Printing Funds: 

Rev. John P. Cowling Memorial Fund 

2. Professorship Funds: 

Chair of English Bible and Greek Testament 

Josephine Bittinger Eberly Professorship of Latin Language 

and Literature 
John E. Lehman Chair of Mathematics 
Rev. J. B. Weidler Endowment Fund 

3* Library Funds: 

Library Fund of Class of 1916 

4. Maintenance Funds: 

Hiram E. Steinmetz Memorial Room Fund 

Total Restricted for Educational and General Purposes 

B For Non-Educational Purposes: 

1. Scholarship Funds: 

Allegheny Conference C. E. Society Scholarship Fund 

Dorothy Jean Bachman Scholarship Fund 

Lillian Merle Bachman Scholarship Fund 

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 
Alice Evers Burtner Memorial Award Fund 
Senator James J. Davis Scholarship Fund 
Derickson Scholarship frund 
William E. Duff Scholarship Fund 
East Pennsylvania Branch W. M. A. Scholarship 
East Pennsylvania Conference C. E. Scholarship 

14 



Schedule B-3 

STATEMENT OF ENDOWMENT INCOME 
FOR THE YEAR ENDED JUNE 30, 1936 



INCOME 



Fund 

Principal 

June 30, 

1936 



Balance 

Income 

July 1, 

1935 



Income for 

the year 

(included 

in Schedule 



Total 



Expenditures 
(included 
in Schedule 
B-2) 



Balance 

Income 

June 30, 

1936 

Exhibit A 



$684,963.91 -$281.81 $24,260.98 



$23,979.17 $23,979.17 

m I 'nir iii ii 11 / 



400.00 



19.00 



19.00 



19.00 



400.00 



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 


9.78 



91,860.04 


-.22 


2, 


,693.00 


2, 


,692.78 


2, 


,692.78 


1,325.00 






61.26 




61.25 




61.25 


1,326.00 






61.25 




61.25 




61.25 


200.00 






10.00 




10.00 




10.00 


200.00 






10.00 




10.00 




10.00 


93,785.04 


-.22 


2 ; 


,783.25 


2, 


,783.03 


*, 


,783.03 



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 
2,000.00 

100.00 
2,750.00 

600.00 
3,000.00 
5,000.00 



50.00 



.09 



30.00 



50.00 


100.00 


100.00 


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 


33.34 


33.34 




5.00 


5.00 


6.00 


137.50 


137.50 


137.50 


30.00 


30.00 


30.00 


150.00 


150.00 


150.00 


250.00 


280.00 


280.00 



.09 



33.34 



^Included in unrestricted income. 



15 



Schedule B-3, Continued 

STATEMENT OF ENDOWMENT INCOME 
FOR THE YEAR ENDED JUNE 30, 1S36 



II Restricted: 

B For Kon-Educational Purposes i 



Scholarship Funds t 

Samuel F. Engla 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 Fund 

Peter Graybill Scholarship Fund 

Jacob F. Greasley Scholarship Fund 

Harnish-Kouser Publicity Fund 

Earrisburg Otterbein Church Scholarship Fund 

Karri sburg Otterbein Sunday School Scholarship Funa 

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. Iirmel Scholarship Fund 

Eenry 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 

Kechanicsburg U. B. Sunday School Scholarship 

Medical Scholarship Fund 

Elizabeth Meyer Endowment Fund 

Elizabeth May Meyer Musical Scholarship Fund 

Mrs. Elizabeth R. Millard Memorial Scholarship 

Bishop J. S. Mills Scholarship Fund 

Elizabeth A. Mower Beneficiary 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 Fund 

Ezra G, Ranck and Wife Scholarship 

Levi S. Reist Scholarship Fund 

Harvey L. Seltzer Scholarship Fund 



IP 



Schedule B-3 



STATEMENT OF ENDOWMENT INCOME 
FOR THE YEAR ENDED JUNE 30, 1936 



INCOME 



Fund 




Income for 


Principal 


Balance 


the year 


June 30, 


Income 


(included 


1936 


July 1, 


in Schedule 




1935 


B-l) 



Total 



Expenditures 
(included 
in Schedule 
B-2) 



Balance 

Income 

June 30, 

1936 

Exhibit A 



6,000.00 






300.00 


300.00 


300.00 




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 


826, 


.69 


165.00 


991.69 


390.50 


601.19 


1,000.00 






50.00 


50.00 


50.00 




500.00 






25.00 


25.00 


25.00 




2,000.00 


237, 


.33 


100.00 


337.33 




337.33 


2,120.00 






106.00 


106.00 


106.00 




1,100.00 






55.00 


55.00 


55.00 




500. OC 






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 


16, 


.50 


51.00 


67.50 


51.00 


16.50 


1,000.00 






50.00 


50.00 


50.00 




15,000.00 


200, 


.73 


750.00 


950.73 


800.00 


150.73 


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 


5,000.00 






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 




.38 


217.50 


217.88 


217.88 




2,500.00 




.73 


125.00 


125.73 


125.73 




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 


25.00 


25.00 


300.00 






15.00 


15.00 


15.00 




3,000.00 


1,676 


.64" 


150.00 
5", 426". 19 " 


150.00 


150.00 




124,357.00 


7,102.63 


5,546.96 


1,555.87 



17 



Schedule B-3, Continued 

STATEMENT OF ENDOWMENT INCOME 
FOR THE YEAR ENDED JUNE 30, 1936 



II Restricteds . 

B For Non-Educational Purposes: 

2. Student Loan Funds: 

Lary A. Dodge Fund 

Daniel Eberly Scholarship Fund 

3. Pj*ize Funds s 

Class of 1928 Scholarship Fund. 
Max F. Lehman Fund 

4. Annuity Funds j 

S. E. Derickson and Wife 

Ida Eberly 

Elmer S. Eyler and Wife 

Fanny Z. Hostetter 

E. Roy Line and Wif« 



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



18 



Schedule B-3 

STATEMENT OF ENDOWMENT INCOME 
FOR TEE YEAR' ENDED JUNE 30, 1936 



INCOME 


Fund 




Income for 




Balance 


Principal 


Balance 


the year 


Expenditures 


Income 


June 30, 


Income 


(included Total 


(included 


June 30, 


1936 


July 1, 


in Schedule 


in Schedule 


1936 




1935 


B-l) 


B-2) 


Exhibit A 



$9,500.00 
514.66 




1475.00 
25.73 


$475.00 
25.73 


1475.00 
25.73 




10,014.66 




500.73 


500.73 


500.73 




835.00 
400.00 


.77 


41.75 
20.00 


42.52 
20.00 


41.00 
20.00 


1.52 


1,235.00 


.77 


61.75 


62.52 


61.00 


1.52 



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 



2,400.00 



120.00 



120.00 



120.00 



138,006. 66 1 , 677.41 



6,108.67 



7,786.08 6,228.69 1,557.39 



231 , 791.70 1,677.19 



8,891.92 10,569.11 9,011.72 1,557.39 



L6, 755.61 $1,595.38 $33,152.90 $34,548.28 $52,990.89 $1,557.39 



19 



Schedule B-4 

DETAILS OF CURRENT FUND ADJUSTMENTS 
YEAR ENDED JUNE 30, 1936 

1. Adjustments adding to Current Funds: 

Decrease in income balances: 

Allegheny Conference C. E. Society- 
Scholarship Fund $60.00 

East Pennsylvania Conference C. E. Society 

Scholarship Fund 30.00 

G. D. Gos6ard and Wife Scholarship Fund 225.50 

A. S. Kreider Ministerial Fund 50.00 

Pennsylvania Conference C. E. Scholarship 

Fund .38 

Pennsylvania Branch W. M. A. Scholarship Fund .73 

Total to Exhibit B, Section 4 $356.61 

2. Adjustments deducting from Current Funds i 

Increase in income balances j 

Alice Evers Burtner Memorial Award Fund 33.34 

Harnish-Houser Publicity Fund 100.00 

Elizabeth May Meyer Musical Scholarship Fund 77.50 

Ezra G. R&nck and Wife Scholarship Fund 25.00 

Class of 1928 Scholarship Fund .75 

Total to Exhibit B, Section 5 $236.59 



20 



Schedule B-5 

CONDENSED STATEMENT OF GENERAL FOND CASH RECEIPTS AND DISBURSEMENTS 

FOR TBE YEAR ENDED JUNE 30, 1936 



Balance July 1, 1935 



RECEIPTS 



11,660.55 



Income: 
Students 

Endowment Income 
Gifts and Grants: 

Conference Benevolence 

Other 

Other Sources: 

Interest on Current Funds 
Chemical Analysis by Dr. Bender 
Library Income 
Group Life Insurance 
Placement Bureau 
Leadership Training School 
Unexpended Student Aotivity Fees 
Miscellaneous 

Balance Sheet Items: 

Increase in Notes Payable 
Decrease in Prepaid Insurance 
Received from Churches on account 

of Notes 
Decrease in Advanced Receivable 

Farm Account 
Decrease in Summer School Expenses 

Prepaid 



1 


5156,087.29 




27,194.01 


$5,753.42 




1,223.63 


6,977.05 


601.19 




172.10 




396.73 




546.48 




49.00 




676.57 




965.80 




477.39 


3,885.26 


18,366.40 




1,552.92 





138.31 



757.30 



5.65 



20,820.58 214,964.19 
$216,524.74 



21 



Schedule B-5, Continued 

CONDENSED STATEMENT OF GENERAL FUND CASH RECEIPTS AND DISBURSEMENTS 
FOR THE YEAR ENDED JUNE 30, 1936 

DISBURSEMENTS 

Expenses: 

Educational and General: 
General Administration and 

Expense $27,775.57 

Instruction and Research 94,440.02 

Library 3,209.73 

Operation and Maintenance of 

Physical Plant 10,911.08 $136,336.40 

Auxiliary Enterprises and 
Activities: 
Dormitories 
Dining Hall 
Placement Bureau 
Leadership Training School 

Other Non-Educational Expenses: 
Interest on Loans 
Debating Expenses 
Y. Um C. A. Expenses 

Decrease in Accounts Payable 

Increase in Inventories: 
Dining Hall 
Laboratory Supplies 

Additions to Plant 

Balance June 30, 1936, per Exhibit A, 
Section I-A 



12,625.39 








38,797.89 








41.84 








781.72 


52,246.84 






2,749.95 








74.42 


2,824.37 
2.75 

4,168.61 






116.15 








275.00 


391.15 








17,939.37 $213, 


,909, 


,49 




2, 


,615, 


,25 




*216, 


,524, 


,74 



22 



Schedule B-6 

STATEMENT OF CASH RECEIPTS AND DISBURSEMENTS 

ENDOWMENT INCOME ACCOUNT 

FOR THE YEAR ENDED JUNE 30, 1936 

Balance July 1, 1935 $1,395.38 

RECEIPTS 

Incoire from Endowment Investments 135,415.25 

Less, accrued interest on bonds 

purchased 1,955.54 33,459.71 

$34,855.09 



DISBURSEMENTS 

Unrestricted : 

Transferred to General Fund for 

Educational Purposes 24,260.98 



Restricted: 

Transferred to General Fund for 
Educational and General Purposes j 



Printing Funds 


$19.00 


Professorship Funds 


2,692.78 


Library Funds 


61.25 


Maintenance Funds 


10.00 


Used for Non-Educational Purposes: 




Scholarship Funds 


5,546.96 


Student Loan Funds 


500.73 


Prize Funds 


61.00 


Annuity Funds 


120.00 



2,783.03 



6,228.69 9,011.72 

Expenses : 

Insurance on Adair Bonds 26.00 

33,297.70 

Balance June 30. 1936, per Exhibit A, Section I-B 1,557.39 

$34,855.09 



23 



Exhibit C 

STATEMENT OF LOAN FUNDS 
YEAR ENDED JUNE 30, 1936 



FUND PRINCIPAL 













Balance 












June 30, 




Balance 








1936 




July 1, 


Receipts 


Other 


Deduc- 


Exhibit A 


Funds 


1935 


for Year 


Additions 


tions 


Sec. II 


Alumni Annual Giving 












Fund 


$721.70 


$139.00 


+ 


$4.50 


$856.20 


Mary A. Dodge Fund 


2,801.29 


483.58 


+ 


+ 


3,284.67 


Daniel Eberly Fund 


51.46 


25.73 


+ 


+ 


77.19 


Henry B. Stehman Fund 


1,951.12 


+ 


+ 


+ 


1.951.12 


Dr. Wagner Special 












Fund 


113.25 


68.75 


+ 


+ 


182.00 




15,638.82 


$717.06 




$4.50 


$6,351.38 




FUND ASSETS 









Cash 



.213.13 



Notes Receivable from Students; 
Alumni Annual Giving Fund 
Dodge Fund 

Henry B. Stehman Fund 
Dr. Wagner Special Fund 



$586.08 

2,508.23 

900.00 

143.94 



4,138.25 



Total Loan Fund Assets June 30, 1936, 
to Exhibit A, Section II 



1,351.38 



24 



Exhibit D 

STATEMENT OF ENDOWMENT AND OTHER NON-EXPENDABLE FUNDS 

YEAR ENDED JUNE 30, 1936 

FUND PRINCIPAL 



Endowment 
Funds 



Annuity 
Funds 



Total 



Balance July 1, 1935 

Additions during yean 

Alice Evers Burtner Memorial 

Award Fund 
Malinda Greiner Estate 
Bishop J. S. Mills Scholarship 

Fund 
Rev. John P. Cowling Memorial 

Fund 
Class of 1916 Library Fund 

Deductions during year 

Balance June 30, 1936, to 
Exhibit A, Section III 



$909,197.73 $2,400.00 $911,597.73 



2,000.00 






1,537.88 






1,500.00 






20.00 






100.00 




5,157.88 


914,355.61 


2,400.00 


916,755.61 


none 


none 


none 


$914,355.61 


$2,400.00 


$916,755.61 






Schedule D-l 



SUMMARY OF ENDOWMENT FUND INVESTMENTS 
JUNE 30, 1936 



Amount Percentage 
Invested of Total 



Farms 
Bonds: 

Industrial 

Public Utility 

Railroad 

Real Estate 

Mortgages 

Stocks 

Notes Receivable 

Cash awaiting investment 



Total Endowment Fund Investments, 

June 30, 1936, to Exhibit A, Section III 





47,476.25 


5.17 


$26,800.00 




2.92 


321,253.91 




35.05 


205,107.83 




22.38 


96,865.00 


650,026.74 


10.57 




21,750.00 


2.37 




175,064.89 


19.10 




22,235.71 


2.44 




916,674.59 
81.02 


100.00 






stion III 


916,755.61 





25 



Schedule D-2 



SCEEDULE OF ENDOWMENT FUND INVESTMENTS 
JUNE 30, 1936 



Amount 



FARMS 



Farm at East Berlin 
Farm at Shirenanstown 



$15,000 

15,000 

5,000 

35,000 



INDUSTRIAL BONDS 

Consolidation Coal 

Philadelphia and Reading Coal and Iron Company 

Warner Company 

PUBLIC UTILITY BONDS 



10,000 American & Foreign Power Company, Inc. 

10,000 American Utilities Se-rvice Corporation 

5,000 Arkansas-Missouri Fower Company 

15,000 Associated Electric Company 

15,500 Associated Gas and Electric Corporation 

5,000 Associated Gas and Electric Corporation 

5,500 Associated Gas and Electric Corporation 

5,000 Associated Gas and Electric Company 

10,000 Birmingham Gas Company 

3,500 Central Electric & Telephone Company 

10,000 Central Gas & Electric Corporation 

10,000 Central Power and Light Company 

15,000 Central States Electric Corporation 

5,000 Cities Service Company x.w. 

10,000 Cities Service Company w.w. 

10,000 Cities Service Company, Cvt. 

10,000 Cities Service Power & Light Company 

15,000 Consolidated Gas Utilities 

10,000 Continental Gas & Electric Corporation 

5,000 Federated Utilities, Inc. 

5,000 Gatineau Power Company 

10,000 General Public Utility 

5,000 Genesee Valley Gas Company, Inc. 

10,000 International Telephone and Telegraph Corporation 

10,000 Interstate Fower Company 

10,000 Jacksonville Gas Company 

5,000 Manitoba Power Company, Ltd. 

6,000 Midland Utilities Company 

10,000 Municipal Service Company 

5,000 Nevada-California Electric Corporation 

10,000 New England Gas and Electric Association 

5,000 New England Power Association 

10,000 Portland General Electric Company 

10,000 Postal Telegraph and Cable Corporation 

5,000 Southwest Gas Company of Oklahoma 



26 



Schedule D-2 

SCHEDULE OF ENDOWMENT FUND INVESTMENTS 
JUNE 30, 1936 

Rate Per Cent Maturity Book Value Income 

$9,776.25 
37,700.00 
47,476.25 



5 

6 

6 

5 

5 

4-1/2 

5-1/2 

6 

5 

5 

5-1/2 

5 

5 

5 

5 

5 

5-1/2 

6 

5 

5-1/2 

6 

6-1/2 

6 

5 

5 

5 

5-1/2 

6 

6 

5 

5 

5 

4-1/2 

5 

6 



1960 


12,000.00 


+ 


1949 


10,000.00 


$900.00 


1944 


4,800.00 


150.00 




26,800.00 


1,050.00 


2030 


9,500.00 


500.00 


1964 


9,500.00 


450.00 


1953 


4,800.00 


+ 


1961 


13,783.75 


125.00 


1973 


19,250.00 


775.00 


1973 


7,500.00 


225.00 


1973 


8,250.00 


302.50 


1948 


3,200.00 


+ 


1959 


9,800.00 


500.00 


1955 


4,500.00 


175.00 


1946 


9,700.00 


550.00 


1956 


9,900.00 


500.00 


1948 


13,737.50 


425.00 


1963 


4,800.00 


250.00 


1969 


10,000.00 


250.00 


1950 


10,000.00 


500.00 


1949 


9,800.00 


550.00 


1943 


14,800.00 


900.00 


1958 


9,816.67 


250.00 


1957 


4,500.00 


275.00 


1941 


4,800.00 


300.00 


1955 


9,900.00 


650.00 


1956 


4,500.00 


300.00 


1955 


9,900.00 


500.00 


1957 


9,600.00 


500.00 


1942 


9,000.00 


300.00 


1951 


4,600.00 


♦ 


1938 


+ 


+ 


1956 


9,900.00 


600.00 


1956 


4,900.00 


250.00 


1950 


9,700.00 


500.00 


1948 


4,900.00 


250.00 


1960 


9,700.00 


450.00 


1953 


8,500.00 


+ 


1954 


5,000.00 


300.00 



27 



Schedule D-2 

SCHEDULE OF ENDOWMENT FUND IKVESTMENTS 
JUNE 30, 1936 



Amount 

110,000 
10,000 
10,000 

330,500 



PUBLIC OTILITY BONDS, Continued 

Standard Power and Light Corporation 
United Light & Power Corporation 
United Light and Railways Company 

RAILROAD BONDS 



10,000 Baltimore and Ohio Railroad Company 

10,000 Baltimore and Ohio Railroad Company 

5,000 Boston & Maine Railroad Company 

10,000 Buffalo, Rochester & Pittsburgh Railway Company 

10,000 Chicago Great Western Railroad Company 

10,000 Chicago and North Western Railway Company 

5,000 Chicago, Rock Island and Pacific Railway Company 

10,000 Chicago South Shore and South Bend Railroad Equipment 

2,000 Cleveland Union Terminal 1st Mortgage 

15,000 Erie Railroad Company 

10,000 Erie Railroad Company 

10,000 Illinois Central Railroad 

10,000 Illinois Central Railroad Company and Chicago, St. Louis end 
New Orleans Railroad Company 

5,000 International-Great Northern Railroad Company 

10,000 Missouri Pacific Railroad 

10,000 New Orleans, Texas & Mexico Railway Company 

10,000 New York Central and Hudson River Railroad Company 

10,000 New York Central Railroad Company 

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

5,000 Philadelphia Rapid Transit Company 

5,000 Southern Pacific Company 

10,000 Southern Railway Company 

5,000 St. Louis Peoria and Northwestern Railway 

10,000 St. Louis-San Francisco Railway Company 

5,000 Virginia and South Western Railway Company 

10,000 Wabash Railway Refunding 

15,000 Western Pacific Railroad Company 
237,000 

REAL ESTATE BONDS 

500 Agar Packing and Provision Company 

5,000 Atlanta Medical Arts Building, Atlanta, Georgia 

2,000 Broadway-Barclay Office Building 

5,000 Broadway &. 41st Street Euilding 

5,000 Carman Theatre, Philadelphia 

1,000 The Corset, New York City 

14,000 Fuller Building (G.A.F. Realty Corp.) 

8,500 Lemoyne Trust Company 

5,000 Loutellus Apartments, Pittsburgh 

5,000 North Avenue Market, Baltimore 



28 



Sohedule D-2 

SCHEDULE OF ENDOWMENT FUND INVESTMENTS 
JUNE 30, 1936 



Rate Per Cent 


Maturity 


Book Value 


Income 


6 


1957 


19,500.00 


1600.00 


6 


1975 


9,900.00 


600.00 


5-1/2 


1952 


9,815.99 


137.50 




1960 


321,253.91 
9,600.00 


13,740.00 


4-1/2 


450.00 


5 


1995 


10,000.00 


500.00 


5 


1955 


5,000.00 


260.00 


4-1/2 


1957 


9,800.00 


692.50 


4 


1959 


7,000.00 


♦ 


4-3/4 


1949 


6,000.00 


♦ 


4-1/2 


1960 


3,000.00 


+ 


5-1/2 


1935 


8,500.00 


4 


5 


1973 


2,000.00 


50.00 


5 


1975 


14,850.00 


750.00 


5 


1967 


9,900.00 


500.00 


4-3/4 


1966 


9,800.00 


475.00 


5 


1963 


10,000.00 


500.00 


5 


1956 


4,000.00 


♦ 


5 


1977 


7,000.00 


+ 


5-1/2 


1954 


8,000.00 


+ 


4-1/2 


2013 


9,900.00 


450.00 


5 


2013 


10,000.00 


500.00 


5-1/2 


1974 


10,000.00 


560.00 


5 


1962 


4,900.00 


300.00 


4-1/2 


1969 


4,900.00 


225.00 


6 


1956 


9,707.83 


300.00 


5 


1948 


4,000.00 


+ 


4-1/2 


1978 


5,500.00 


+ 


5 


1958 


5,000.00 


250.00 


5 


1980 


6,000.00 


♦ 


5 


1946 
1946 


11,750.00 
205,107.83 


♦ 




6,642.50 


5 


500.00 


37.50 


6-1/2 


1938 


5,000.00 


325.00 


6 


1941 


2,000.00 


60.00 


3 


1944 


4,937.50 


150.00 


6 


1940 


5,000.00 


525.00 


6 


1941 


1,000.00 


+ 


5-1/2 


1949 


14,000.00 


350.00 


5 


1929 


8,500.00 


378.33 


6-1/2 


1936 


5,000.00 


♦ 


6 


1940 


5,037.50 


300.00 



29 



Schedule D-2 

SCHEDULE OF ENDOWMENT FUND INVESTMENTS 
JUNE 30, 1936 

Amount REAL ESTATE BONDS, Continued 

$4,000 Ruskin Corporation 

4,000 New Hotel Syracuse 

38,000 United Brethren Publishing House 
97,000 



$ 699,500 Total Bonds 

MORTGAGES 

4,750 Jacob M. Baum 

5,000 Amos K. Curry 

5,000 Derry Street Church, United Brethren in Christ, Harrisburg 

1,000 Union Trust Company of Pennsylvania, Harrisburg 

6,000 P. A. W. Wallace 



21,750 



6. 


80 sh. 


100 


shares 


100 


ii 


100 


it 


100 


it 


100 


t? 


60 


it 


350 


ii 


100 


ii 


200 


•t 


60 


it 


100 


it 


150 


n 


100 


ti 


50 


it 


100 


n 


100 


n 


50 


n 


60 


n 


100 


n 


70 


ti 


50 


n 


60 


n 


5 


ii 


100 


ii 


100 


n 


200 


" 


100 


n 


100 


" 


84 


it 


21 


n 



STOCKS 

Agar Packing and Provision Corporation, Preferred 

American Radiator Company 

Anaconda Copper 

Atlantic Refining Company 

Bethlehem Steel Corporation, Preferred 

Burroughs Adding Machine Company 

Central Electric & Telephone Company, Preferred 

Central Electric & Telephone Company, Common 

Central West Company (Voting Certificate) 

Chase National Bank of New York 

Chemical Bank & Trust Company 

Columbia Gas & Electric Company 

Consolidated Gas Utilities 

Consolidated Oil Company 

Electric Power & Light Company 

General Electric Company, Inc. 

Goodrich Rubber Company 

International Harvester Company 

Irving Trust Company 

Kennecott Copper 

A. S. Kreider Shoe Company, Preferred 

A. S. Kreider Company, Preferred 

Bank of Manhattan Company 

Mission Corporation 

National Biscuit Company 

National Cash Register 

National City Bank of New York 

New England Power Association 

North American Company, Inc. 

Northeastern Water and Electric Corporaxion, Preferred 

Northeastern Water and Electric Corporation, Common 



30 



Schedule D-2 

SCHEDULE OF ENDOWMENT FUND INVESTMENTS 
JUNE 30. 1936 



Rate Per Cent Maturity 

3 1950 

3 1955 

6 1934-53 



6 1929 

6 



5-1/2 



5-1/2 



Book Value 


Income 


#4,000.00 


#70.00 


4,000.00 


50.00 


37,890.00 


+ 


96,865.00 


2,245,83 


650,026.74 


23j678.33 


4,750.00 


285.00 


5,000.00 


300.00 


5,000.00 


300.00 


1,000.00 


+ 


6,000.00 


330.00 


21,750.00 


1,215.00 


500.00 


+ 


2,504.89 


+ 


5,000.00 


12.50 


5,700.00 


140.78 


1,700.00 


+ 


4,500.00 


108.15 


(4,300.00 
( 




10,000.00 


280.00 


3,700.00 


108.00 


2,000.00 


f 


600.00 


+ 


1,500.00 


+ 


4,200.00 


+ 


5,500.00 


80.00 


2,500.00 


+ 


4,094.79 


45.00 


3,200.00 


36.00 


5,000.00 


105.00 


(12,000.00 


+ 


( 




3,700.00 


90.00 


+ 


7.49 


7,500.00 


160.00 


2.500.00 


+ 


10,000.00 


200.00 


8,500.00 


100.00 


6,000.00 


114.00 


(8,500.00 


392.00 


( 





31 



Schedule D-2 

SCHEDULE OF ENDOTO1ENT FUND INVESTMENTS 
JUNE 30, 1936 

Amount STOCKS, Continued 

100 ehare8 Ohio Oil Company 

4 " Pennsylvania Power & Light Company, Preferred 
100 " Philadelphia Company Cumulative Preference 

5 " Potomac Edison Company 
50 " Procter & Gamble Company 

100 " Radio Corporation 

1 n Sheridan-Belmont Hotel Company 

100 " Socony Vacuum Oil 

50 " Southwest Gas Company of Oklahoma, Preferred 

100 " Standard Oil Company, Inc., of Neiw Jersey 

100 " United Aircraft 

100 " The United Gas Improvement Company 

100 " United States Steel Corporation 
3996.80 Total Stocks 

NOTES 

Notes from churches and individuals 

Total Investments 



32 



Schedule D-2 

SCHEDULE OF ENDOWMENT FUND INVESTMENTS 
JUNE 30, 1936 



Rate Per Cent Maturity 



Book Value 


Income 


§2,000.00 


£25. 00 


400.00 


20.00 


9,600.00 


62.50 


500.00 


35.00 


3,200.00 


87.50 


2,000.00 


+ 


500.00 


+ 


2,000.00 


+ 


2,765.21 


+ 


8,600.00 


150.00 


3,000.00 


+ 


5,300.00 


125.00 


10,000.00 


-t- 


175,064.89 


2,483.92 



22,356.71 512.67 
)16,674.59 427,869.92 



33 



Exhibit E 

STATEMENT OF PLANT FUNDS 
YEAR ENDED JUNE 30, 1936 



(1) Unexpended Plant Funds 

Balance July 1, 1935 

Additions during year: 

1. Amount transferred from Current Funds 

Deductions during year: 

a. Electric fan for Heating Plant 

b. Books for Library 

c. Drinking fountain for Conservatory 

d. Vault door, desk and chair for office 

e. Microammeter for Physics Laboratory 

f. Microscopes, projector, kymograph 

and instrument cabinet for Biology 
Laboratory 

g. Balance for Chemistry Laboratory 
h. Musical instruments - new organ 
i. Apartment in Men's Dormitory 

j. Violin outfits for Conservatory 

Balance June 30, 1936 

(2) Invested in Plant 

Value of Plant July 1, 1935 
Additionb during year, as above 

Deductions : 

Value of organ retired from service 

Value of Plant, June 30, 1936, 
Exhibit A, Section IV 



11.07 

2,000.00 

14.20 

188.05 

46.10 



422.85 

150.75 

15,015.95 

70.40 

30.00 



None 



$17,939.37 
$17,939.37 



17,939.37 



None 



653,024.75 

17,939.37 

670,964.12 

9.000.00 



$661,964.12 



34 



Schedule E-l 



Land 8s 

Athletic Field 
Campus 

Underground Heating and 
Plumbing System 

Buildings; 

Admini stration 
Conservatory Annex 
Engle Hall 
Heating Plant 
Carnegie Library 
Men's Dormitory 
North Hall for Women 
President's Eome 
South Hall for Women 
West Hall for Women 



Equipment : 
Auditorium 

Dining Hall and Kitchen 
Class Room Furniture 
Conservatory Class Room 

Furniture and Apparatus 
General Furniture and Apparatus 
Athletic Field and Gymnasium 
Heating Plant 
Biology Laboratory 
Chemistry Laboratory 
English Department — Lantern 

slides and equipment 
Physics Laboratory 
Library 

fooks in Library 
1'useum Furniture 
Musical Instruments 
Office Equipment 
Y. M. C. A. Room 



Total Plant Funds Assets 
Less organ replaced 

Total Flsnt Funds Assets 









PLANT 


FUNDS ASSETS 
JUNE 30, 1936 




Book Value 






Book Value 




July 1, 






June 30, 


Erected 


1935 


Increase 


1938 




$5,000.00 


15,000.00 




34,000.00 






34,000.00 




39,000.00 
17,089.39 

157,170.25 






39,000.00 




17,089.39 


1905 


157,170.25 




3,662.49 






3,662.49 


1899 


68,000.00 
12,300.00 






68,000.00 
12,300.00 


1904 


39,250.00 






39,250.00 


1905 


83,790.55 




$70.40 


83,860.95 


1904 


87,111.91 






87,111.91 


1900 


9,145.60 






9,145.60 


1857 


22,611.83 
12,106.81 

495,149.44 






22,611.83 
12,106.81 




70.40 


495,219.84 




2,700.00 




2,700.00 




6,828.80 






6,828.80 




4,900.00 






4,900.00 




473.99 




30.00 


503.99 


saratus 


12,055.92 




14.20 


12,110.12 


;ium 


5,371.00 






5,371.00 




2,999.41 




1.07 


3,000.48 




7,233.50 




422.85 


7,656.36 




8,000.00 




150.75 


8,150.75 


srn 


1,000.00 






1,000.00 




4,500.76 




46.10 


4,546.86 




1,159.55 






1,159.55 




15,100.00 


2 


,000.00 


17,100.00 




4,250.00 






4,250.00 




20,280.23 


16 


,015.95 


35,296.16 




4,542.76 




188.05 


4,730.81 




350.00 
101,765.92 






3M 




17 


,868.97 


119,654.69 




653,024.75 


17 

9 


,939.37 
,000.00 


670,964.12 






9,000.00 




$653,024.75 


$1 


,939.37 


$661,964.12 



35 



EXTENSION DEPARTMENT 
YEAE ENDED JUNE 30, 1956 



Inc ome : 

first Semester 
Second Sen ester 
Total Incoire 

Exp e 



Salaries paid to Faculty 
Traveling and miscellaneous expeiises 
Total Expenses 

Net Profit 



*677.00 
543. OC 



800.00 
327.00 



11,220.00 

1,127.00 

493.00 



SUMNER SCHOOL KEFORT 
JUNE 30, 1936 



In come : 

Registration 
Tuition 
Boarding 
Room Rent 

Practice Teaching Fees 
Profit on sale of books 
Total Incoine 

E xpenses : 

Salaries paid to Faculty 

Paid to C. R. Gingrich for Eoarding 

Registration and Room Rent retained 

by College 
Miscellaneous expenses 
Ten per cent retained by college 

Total Expenses 



$44.00 

1,697.50 

282.00 

96.00 
135.00 

13.14 



1,159.02 
282.00 

140.00 
544.70 
141.92 



,2,267.64 



C2.267.64 



36 



SATURDAY SCHOOL REPORT 
JUKE 30, 1936 



Income : 

Registration Fees $41.00 

Tuition 

First Semester $850.00 

Second Semester 725.00 1,575.00 

Total Income $1,616.00 

Expe nses : 

Salaries paid to Facultys 

Paid to June 30, 1936 1,341.90 

Paid July 31, 1936 75.60 1,417.50 

Registration Fees retained by 

College 41.00 

Ten per cent retained by college 157.50 

Total Expenses $1,616.00 



:;-, 



STATEMENT OF KUSIC SCHOOL INCOME AND EXPENSES 
YEAR ENDED JUNE 30, 1936 







First 


Second 


Both 




INCOME 




Semester 


Semester 


Semesters 




Instruction j 












Voice 




$2,534.50 


$2,549.50 


$5,084.00 




Piano 




2,409.00 


2,264.00 


4,673.00 




Organ 




631.00 


591.00 


1,222.00 




Violin 




700.00 


775.00 


1,475.00 




Cello 




84.00 


80.00 


164.00 




Instruments of Band and 










Orchestra 




517.00 


548.00 


1,065.00 




Theory 




4,857.00 


4,729.00 


9,586.00 








11,732.50 


11,536.50 




$23,269.00 


Use of Instruments 


for 










Practice: 












Piano 




504.00 


496.00 


1,000.00 




Organ 




430.00 


412.50 


842.50 




Instruments of Band 










and Orchestra 




234.00 


240.00 


474.00 








1,168.00 


1,148.50 




2,316.50 


Total Income 




#12,900.50 


$12,685.00 




25,585.50 



EXPENSES 

Salaries 22,150.12 

Practice teaching for Seniors, 

including transportation 944.32 
Tuning, repairs, and use of 

motor for organ 616.14 

Music 111.94 

Stationery and Printing 42.90 

Total Expenses 23,865.42 

Profit before Administration and 

Building Maintenance Expenses $1,720.08 



38 



STATEMENT OF DORM TORY INCOME AND EXPENSES 
YEAR ENDED JUNE 30, 1936 

INCOME 



Rentals: 

Nen'e Dormitory 

Worth hall 

South Kail 

West hall 

Gruber's 

Dining Kail 

Leadership Training School 

Breakage Fees 
defining Fees 

Total Income 



£8,318.24 
3,924.30 
2,032.03 
1,335.75 
182.00 
4,500.00 
62.00 



$20,354.32 

262.83 

• 630.30 



$21,247.45 



EXPENSES 



Care of Buildings and Furniture 

Heat 

Light and Fewer 

Ki scellaneous 

Operating Supplies 

Froperty Insurance 

Rent 

Repairs and kaintenance of Buildings 

and Eouipment 
Telephone 
Water 

Total Expenses 



$3,326.29 

4,033.55 

2,172.16 

42.72 

149.15 

582.72 

174.00 

1,660.55 
106.74 

377.51 



12,625.39 



Profit before Admiiistration Expense: 



1,622.06 



39 



REPORT OF DINING HALL 
YEAR ENDED JUNE 30, 1936 



INCOME 



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

Cost of meals, materials and supplies onlyj 
Inventory July 1, 1935 
Purchases 

Inventory June 30, 1936 

Cost of meals, materials and supplies 
only 

Gross Profit before Operating Expenses 



1,883.50 

637.28 

25.13 

20.00 



987.19 

23,423.39 

24,410.58 

1,103.34 



$39,565.91 



23,307.24 
$16,258.67 





EXPENSES 






Operating Expenses: 








Salaries and Wages 




8,892.83 




Gas 




193.24 




Laundry 




459.01 




Light 




552.20 




Miscellaneous 




108.00 




Operating Supplies 




229.77 




Renewals and Repairs 




481.38 




Rental 




4,500.00 




Telephone 




24.34 




Water 




69.88 




Total Operating Expenses 






$15,510.65 


Profit before Administration 


Expenses 




$748.02 



40 



STATEMENT OF LABORATORY INCOME AND EXPENSES 
YEAR ENDED JUNE 30, 1936 



Income : 
Fees 
Breakage Income 



Psych- 
Biology Chemistry Physics ology 



Total 



$2,205.30 $2,249.00 $420.00 $126.00 $5,000.30 

47.75 296.25 344.00 

2,253.05 2,545.25 420.00 126.00 5,344.30 



Expenses ; 

Inventory July 1, 1935 
Purchases 

Inventory June 30, 1936 
Cost of supplies used 



275.00 1,200.00 50.00 

1,321.52 1 ,340. 00 141.24 

1,596.52 2,540.00 191.24 

300.00 1,450.00 50.00 

1,296.52 1.090.00 141.24 



+ 1,525.00 
1.72 2,804.48 



1.72 4,329.48 
+ 1,800.00 



1.72 2,529.48 



Gain before Administration 

and Maintenance Expenses $956.53 $1,455.25 $278.76 $124.28 $2,814.82 



REPORT OF LIBRARY 
YEAR ENDED JUICE 30, 1936 



Income ; 

Matriculation Fees 
Endowment Fund 
College Departments 



$396.73 

61.25 

1,601.96 



.059.94 



Expenses : 

Books and magazines 

Salaries 

Supplies and Einding Expense 

Specials for Departments 

Deduct items added to capital investment 



1,455.60 

3,536.20 

215.93 

1,601.96 



6,811.69 
2,000.00 
4,811.69 



Deficit 



$2,751.75 



.1 i 



DONATIONS TO LEBANON VALLEY COLLEGE FOR SPECIAL PURPOSES 
YEAR ENDED JUNE 30, 1936 

CASH CONTRIBUTED TO CURRENT ACCOUNT 

For books, supplies, binding, etc.. for Library, 
from Departments: 

Bible #32.37 

Biology 61.01 

Book Department 548.37 

Business Administration 3.20 

Chemistry 4.28 

Education 26.85 

English 91.47 

French 15.38 

History 5.98 

Latin 9.04 

Physical Education 11.21 $809.16 

Alumni — For salary of Secretary 100.00 

Athletic Council— For salary of Publicity Director 500.00 

Alumni Annual Giving Fund — Organ 600.00 

Class of 1932 — Memorial for Alfred Kuhnert 23.63 

$2,032.79 

BOOKS PRESENTED TO LIBRARY 

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

Number of Volumes Value 
Books 

K. S. Bollman 

R. R. Butterwick 

Class of 1936 

Conservatory of Music 

Mrs. Robert Ewing 

C. R. Gingrich 

Ginn & Company 

Was on Long 

H. E. Miller 

Helen E. Myers 

Rhoda Riegel 

Naomi Shively 

E. H. Sneath 

Dr. £. 0. Spessard 

Y. L. Stokes 

Pennsylvania State Library 

United Brethren Mission Board 

P. A. W. Wallace 

Margaret A, Wood 

Miscellaneous 

Periodicals 

Wistar Institute 

1'iscellaneous 

United Brethren Church 

42 



1 


$1.00 


7 


9.00 


1 


4.00 


99 


90.00 


100 


400.00 


4 


6.00 


35 


29.00 


1 


3.00 


8 


12.50 


1 


3.50 


2 


1.50 


4 


6.00 


10 


25.00 


1 


5.00 


2 


3.50 


18 


20.00 


2 


3.50 


5 


5.00 


2 


3.50 


63 


63.00 




694.00 


5 


50.00 


35 


45.00 


3 


3.80 




^792.50 



ANALYSIS OF HEATING PIANT EXPENSE 
YEAR ENDED JUNE 30, 1936 



Fuel, including freight and drayage 

Insurance 

Light and Power 

Miscellaneous 

Repairs 

Wapes 

Supplies 

Telephone 

Water 



$4,628.11 

30.96 

647.42 

8.20 

352.87 

2,269.68 

17.08 

45.65 

74.63 

$8,074.60 



Distribution of Heating Plant Expense 



Heating Physical Plant 
Heating Dormitories 



4,037.30 
4,037.30 
^8,074.60 



ANALYSIS OF FARM DEFICIT ACCOUNT 
YEAR ENDED JUNE 30, 1936 



East Berlin Farm 



Net Profit for current year 
Deduct, Deficit July 1, 1935 
Surplus June 30, 1936 



$141.37 
22.91 



$118.46 



Shiremanstown Farm 



Deficit July 1, 19-35 
Deduct Net Profit for year 
Deficit June 30, li*56 



2,787.40 
89.95 



2.697.45 



Total Farm Deficit June 30, 1936, 
Exhibit A, Section V 



|2 , 578.99 



43 



FARM 

EAST 



REPORTS, YEAR ENDED JUNE 30, 1936 
BERLIN FARM 



INCOME 



Sep. 18, 


1935 


Sep. 18, 


1935 


June 15, 


1936 



C. A. Crowl — On account of corn 

and oats |70.95 

W. Denton I/yers: 

524.7 bushels wheat at 73/ 383.0s 

T. C. Heishman, Carlisle: 

9,161 lbs. hay 38.50 

14,313 lbs. straw 42.60 

Tof.al Income 



$535.08 



EXPENSES 



July 30, 1935 CM. Spangle r— 7 rds. 12j| ft. of 

fencing 12.39 

Sep. 18, 1935 C. A. Crowl — Repairs to water system 4.15 
R. 4 H. Machine Shop — Repairs to 

water system 1.30 

George Livingstone — Clover seed 13.75 
Samuel D. Kling — Repairs 1.75 

Gregory F. C-ebhart— 1935 School Tax 40.00 
Gregory F. Gebhart — 1935 County, Road 

and bond tax 54.00 

W. Denton Myers — Lime, fertilizer, 

timothy seed 158.52 

Evening Sun — Advertisement for farmer 1.50 
The Sentinel — Advertisement for farmer 1.20 
I. S. Ernst — Expenses interviewing 

farmers 34.69 

East Berlin News — Advertisement for 

farmer .64 

Times News Publishing Company — Adver- 
tisement for farmer .92 
Fay 1, 1936 Gregory Gebhart — County, Road and 

bond tax for 1936 51.30 

June 15, 1936 W. S. Wolfe — Bailing hay and straw 17.60 
Total Expenses 

Net Profit 



Sep. 


13, 


1935 


Oct. 


21, 


1935 


Jan. 


3, 


1936 


Feb. 


3, 


1936 


Feb. 


10, 


1936 



$ 393.71 
£141.37 



44 



FARM REPORTS, YEAR ENDED JUNE 30, 1936 
SHIREMANSTOWN FARM 

INCOME 



July 12, 1935 
July 26, 1935 
June 29, 1936 



July 


30, 


1935 


Aug. 


5, 


1935 


Aug. 


12, 


1935 


Aug. 


15, 


1935 


Sep. 


13, 


1935 


Oct. 


9. 


1935 


Oct. 


10, 


1935 


Oct. 


26, 


1935 


N ov . 


12, 


1935 


Dec. 


14, 


1935 


Jan. 


3, 


1936 


Feb. 


10, 


1936 


Mar. 


6, 


1936 


May 


1, 


1936 


May 


11, 


1936 


May 


20, 


1936 


June 


17, 


1936 


June 


27, 


1936 



Homer C. Kistler: 

190 bushels oats at 50/ $95.00 

Frank Eberlyj 

573-9/60 bushels wheat at 68/ 389.74 
Golden Grain Mills: 

1113-2/3 bushels wheat at 68/ 757.30 

Total Income $1,242.04 

EXPENSES 

Hauck Brothers — Pump repairs 3.58 

Annie G. Witter — State and County 

Taxes 53.20 

Annville National Bank—Interest on 

note 30.00 

Hitter's hardware Company — Fencing 

and staples 9.22 

H. E. Mllard— 29 N.T. Sweet Arrow 

Kydrated Lime at $8.50 246.50 

Annie G. Witter— 1935 School Tax 140.00 
Hauck Bros. — Pump cylinder and repairs 7.75 
G. L. Wolfe — 4^ tons fertilizer 

at $24.80 less discount of $9.49 95.91 
Mark A. Brubaker — 210 ft. cyclone 

fence 204.00 

Annville National Bank — Interest on 

note 30.00 

Cochran & Allen — Automatic drinking 

equipment for cattle 65.59 

Harry Zimmerman — Interest on note 50.00 
Ritter's hardware — Fencing, gate, 

staples 13.15 

Annville National Rank — Interest on 

note 30.00 

Hauck Bros. — Repair water service 2.12 
P. L. Wolfe— 1^- tons fertilizer, 

collere share 23.02 

Annville National Bank — Interest on 

note 30.00 

Annie G. Witter — Road tax for 1936 

£42.00 less 5%, $2.10 39.90 

harry Zimmerman— Interest on note 50.00 
Mlleisens Lumber Company — Lumber, 

bolts and pates 28 .15 

Total Expenses 1,152.09 

Net Profit 389.95 



4e 



AUDITING COMMITTEE REFORT 



To the Board of Trustees of Lebanon Valley Colleges 

Gentlemen: — Following the practice of recent years, your auditing 
committee secured the services of a certified public accountant to 
audit the accounts of S. K. Berickson, Treasurer of the College. 

The audit was made by Charles E. Frocasco, C. P. A., of Harrisburg, 
Vile submit as our report his certification, which follows: 

E. E. Schaeffer 
P. 0. Shettel 
E. E. Iv.iller 

Committee 



Charles E. Frocasco, C. P. A. 

Mechanics Trust Building 

Harrisburg, Pa. 

Member of American Institute of Accountants 
Member of National Association of Cost Accountants 

August 21, 1936 

Board of Trustees, 
Lebanon Valley College, 
Annville, Pennsylvania. 

Gentlemen: — Pursuant to instructions received from your Finance 
Committee, I have audited the assets, liabilities, and funds of 
LEBANON VALLEY COLLEGE 
Annville, Pennsylvania 
for the year ended June 30, 1936, also the financial statements includ- 
ed in the foregoing report of your Treasurer, Mr. S. H. Derickson. 

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

Notes payable were confirmed and all other ascertainable liabil- 
ities computed and included in the accompanying 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, which were found to 
be correct. 

Respectfully submitted, 

C. E. Procasco 
Certified Public Accountant 



46 



STUDENT ENROLLMENT, 1935-1936 



Colleg-e Department 


Men 


Women 


Total 




Graduate Students 


1 


1 


2 




Seniors 


49 


23 


72 




Juniors 


42 


20 


62 




Sophomores 


49 


27 


76 




Freshmen 


71 


34 


105 




Specials 


1 




1 




Saturday Classes 


12 


33 


45 






225 


138 




363 


Conservatory of Music 










Seniors 


6 


13 


19 




Juniors 


7 


7 


14 




Sophomores 


7 


10 


17 




Freshmen 


14 


23 


37 




Specials 


28 


49 


77 






62 


102 




164 


Extension Department 


12 


33 




45 


TOTAL ENROLLMENT 


299 


273 




572 


Duplicates 


10 


18 




28 


NET ENROLLMENT 


289 


255 




544 


Summer Session, 1936 


22 


23 




45 



FUNDS FROM THE N. Y. A. 
(Not taken into College Account) 
YEAR ENDED JUNE 30, 1936 



October, 1935 
November, 1935 
December, 1935 
January, 1936 
February, 1936 
M fi rch, 1936 
April, 1936 
May, 1936 
June, 1936 



$674.97 
674.62 
674.80 
674.97 
674.89 
674.89 
674.97 
674.97 
674.54 



$6,073.62 



Number of students helped - 110 



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