The total amount of accumulations of permanent University fund at the close of the fiscal year appears from the auditors report to be $353,989.81. As the Board have no immediate control over this fund, but merely draw and expend the income according to law, reference is made to the Auditor's annual report for full information in regard to it. Herewith I have the honor to transmit the financial statement to the Treasurer for the fiscal year, showing in detail all the receipts and expenditures, accompanied with proper vouchers. All the items and footings have been fully inspected and verified by the auditing committee of the Board, and the report has thereupon been approved and accepted by the Board. GENERAL OUTLOOK. On the seventh of October last, the University of Minnesota completed its tenth birthday. The Board feel that they have reason, with the people of the state, to take pride in the growth and progress of the institution. Beginning ten years ago with 40 young preparatory students, the attendance in the last college year rose to (303) three hundred and three. There is at the present time a larger number of students in actual attendance than was ever before enrolled in the whole course of any academic year. Notwithstanding this large increase the Board have not felt able or authorized to increase the teaching force which remains as to numbers the same as during the previous year. Miss M. J. Campbell, a graduate of the University, and an experienced teacher, has performed the duty previously devolved upon Mr. J. B. Clark. The professorship of Latin vacated by the lamented death of Professor V. J. Walker, still remains unfilled, the chair having been placed in charge of Professor Brooks, and the duties performed by him together with that of the department of Greek, with the assistance of instructors, Hutchinson and J. S. Clark. The year has been one of peaceful and decided progress. The faculty, composed of capable and earnest men, having at heart the highest interests of the institution and of their pupils, have labored with great diligence and in entire harmony. The conduct and deportment of the young people committed to their care cannot, we believe, be surpassed in good order and diligent application by any similar body in our country. And this, we are of opinion, is in a great measure due to the salutary influence of the joint attendance and instruction of the young men and young women, as well as to the judicious policy of the faculty in avoiding the use of unnecessarily strict and arbitrary rules and regulations. The report of the President of the University is referred to for numerous details, recommendations and professional suggestions, and which are generally accepted by the Board as judicious and wise. All of which is respectfully submitted, |