Last year's $200 increase in tuition at the college enabled the Faculty of Arts and Sciences to finish 1953-54 in the black for the first time in the last three years, Dean Bundy announced yesterday. The credit balance was $104,000.
Athletic expenses amounted to nearly $413,600 since "Miscellaneous Expenses" jumped by that figure. The totals for the Committee on Athletic sports, which were formerly listed separately in the financial report, are now buried in the Faculty's totals, probably under this heading.
Tuition and other student income amounted to $5,320,000 on the Faculty balance sheet, $1,190,000 more than two years ago, according to the financial report of Treasurer Paul C. Cabot. "The $200 boost accounted for $840,000, 70 per cent of this increase.
The Faculty of Arts and Sciences entered they year 1951-2 with a credit balance of 790,000, but succeeding losses of $15,000 and $156,000 in next two academic year cut this down.
More severe were the deficits Sports which were absorbed by the Faculty in blocks of $319, 000 and $444,000 in those same two years.
Thus the Faculty of Arts and Sciences entered the last academic year with credit balance of only $480.92.
Athletics Brings Receipt
General receipts for the Faculty rose $321,000 last year over the year over the year before. "A large part of this difference can be attributed to athletic receipts," Bundy said.
The total income of the Faculty of Arts and Sciences last year was $11,974,000. This is over two million dollars more than he total for 1952-3.
When the whole budget for the Faculty is considered, the $104, 000 credit balance is extremely small, Bundy said. "It isn't even 9% of our income," he pointed out.