1936-37 Receipts for the 12 months ended June 30, 1937  $564,571.09 Guarantees paid to visiting teams  174,015.15 Amount available for athletic and physical education  390,555.94 Total expenses for all these purposes  391,841.55 Excess of expenses over income  785.61

Income and Expenses of Athletic Association   1936-37   Income  Expense Varsity Baseball Team  $11,345.33  $17.140.57 Varsity Crew  309.20  16,883.51 Varsity Football  268.164.27  72,807.11 Varsity Track Team  5,199.27  20,134.64 Varsity Hockey Team  7,347.02  12,230.66 Harvard A. A. News  31,621.00  28,559.16 Minor sport teams and Physical Education Department    55,701.74 Maintenance and operation of athletic buildings and grounds  107,205.31 Permanent improvements, grounds and buildings  20,800.92 Administrative and other expenses  39,877.73     $391,341.55

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