The annual statement of the financial affairs of the University for the year ending June 30, 1916, has been published by the Treasurer. Although the income of the University is $84,182.94 less than in 1914-15, the expenditures have been reduced $200,491.19, and the result is a balance of $9,973.08 instead of a deficit of $13,396.90.

During the year ending June 30, 1916, gifts "for capital," either establishing new funds or increasing old ones, have amounted to $1,652,189.03. This is an increase of $866,362.96, but the gifts "for immediate use" have decreased from $434,195.21 in 1914-15 to $283,457.56 in 1915-16.

The total income of the University, including the income from funds and gifts, which is $1,787,957.20, and the general income from tuition fees and rents, was $2,935,419.65. Tuition fees made up $769,944 of this total, and the rent of College dormitories yielded $162,451.12. The expenditures totaled $2,961,267.36 or, subtracting the deficit of restricted income met by charges against funds and gifts, $2,925,446.57.

The largest expenditure by any one department was an amount of $1,167,228.28 used by the College, including the Graduate School of Arts and Sciences. The credit surplus in this department was $63,270.65, an increase over the $62,562.07 of the previous year. The library was run at a deficit of $51,540.12, $26,751.46 being spent on new books. $600,090.04 was the amount expended on salaries for instruction.