Calendar: 1957-1958 Page 471

χ ANNUAL REPORT bequest to the Library of an unusual kind is the 1494 edition of the Nuremberg Chronicle in most excellent condition This is the gift of Mr Brook third year theological student Finance Income and Expenditure Account The income from fees amounted to £10 688 an increase of £618 on the previous year reflecting the increase in the number of entrants The grant for the full year from the Church Commissioners was £9 000 of which part was allocated as previously towards the salaries of the teaching staff at Warminster With the yield from the Endowment Funds at £436 and small miscellaneous items added the total income was £19 301 compared with £18 632 in 1954-55 Expenditure was £18 174 compared with £17 271 in the previous year The year's working thus showed surplus of £1 127 compared with surplus of £1 361 in 1954 -55 Corporation General Fund Account Income was received from the usual sources and after meeting expenses the account showed surplus of £656 which will be transferred to the Special Reserve Fund King's College Hostel At July 31st 1955 the accumulated deficit on King's College Hostel stood at £2 033 The Council has to report with the most sincere gratitude that an anonymous gift of £2 000 was received shortly after- wards and the deficit liquidated During the current year vacation lettings brought in £1 645 compared with £1 128 last year and the total income amounted to £10 596 compared with £10 476 in 1954-55 Expenditure also increased compared with the previous year £11 050 as against £10 730 The wages paid to domestic staff were increased in conformity with the general national trends and the cost of coke in particular rose steeply Fortunately Charity Relief was allowed against the new rating assessments At July 31st 1956 the total deficit on the Hostel stood at £397 and as previously mentioned in this Report the Council on the recom- mendation of their Finance Committee decided that with effect from October lst 1956 the fees for residence must be raised by £25 per annum as the only means of facing this continual drain on Council finances King's College at St Boniface College Warminster As reported last year surplus of £2 325 was carried forward on July 31st 1955 During the present year the total income amounted to £10 208