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Show Regent Cosgriff next reported that the Finance Committee had recommended filing with the Internal Revenue Service, an application for exemption from collection of Federal tax on admissions to events which might be affected by the new Revenue Act of November 1, 1951. The recommendation was approved on motion of Regent Eccles, seconded by Regent Bamberger. Regent Cosgriff also reported that the Finance Committee had examined the financial statements for the auxiliary enterprises, dated October 31, 1951, and found all of them to be operating satisfactorily, except the two cafeterias, both of which showed a deficit for the period from July 1, 1951 to October 31, 1951., The Union Building Food Service showed a loss of $4, 600. as compared with $1, 300. for the same period last year, It was requested that these losses be called to the at- tention of the Administration and that authority be given to increase prices, if necessary. The statements showed the losses were due primarily to increased cost of food purchases. The-Chairman reported a conference with Governor J. Bracken Lee in regard to the University survey by the manage- ment consulting firm of Booz, Allen and Hamilton (See minutes of October 15, 1951). The Governor hoped that the study would be made and the cost defrayed by the University. Both the Chairman and the President expressed the belief that the University would benefit from the study and that everyone concerned would be more satisfied if this Survey were made. FIRM OF BOOZ, ALLEN AND HAMILTON TO SURVEY Regent Heber Bennion raised the question as to the competency of the firm which had been tentatively selected. Following a discussion of the question, Regent Adam S. Bennion moved that the Board approve of the study by the firm of Booz, Allen and Hamilton, at the expense of the Uni- versity. Regent Holbrook proposed a substitute motion author- izing the Chairman and the President to investigate the merits of other business service firms and if they find one which they are more satisfied with than the one selected, that they be authorized to sign an employment contract. There was no second to the substitute motion and the original motion by Regent Adam S. Bennion was seconded by Regent Cox and upon being put, carried unanimously" |
