Calendar: 1962-1963 Page 490

xii ANNUAL REPORT The saving of £28 has been set off against the excess expenditure over the annual provision which now stands at £532 The year's working showed surplus of £188 compared with surplus of £157 last year The net surplus carried forward at July 31st 1961 was £743 King's College at St Boniface College Warminster On July 31st 1960 the accumulated surplus carried forward was £4 802 During the present year the total income amounted to £13 262 com- pared with £13 586 in 1959-60 owing to fewer numbers Expenditure for the current year was £13 929 compared with last year's figure of £12 782 During the year salaries wages and the costs of maintenance all increased The result of the year's working was deficit of £666 compared with surplus of £804 last year In addition legal expenses in connection with the new lease amounted to £99 leaving an accumulated surplus of £4 037 at July 31st 1961 General By the end of the session it was possible to sort out the Pass from the Honours students under the new regulations for the first time Twenty-five men and one woman moved into the second year of the Pass course twelve men and seven women qualified to enter the second year of the new Honours course To this latter group must be added one woman and two men graduates from other universities who have joined the course with exemption from the first year It is to be hoped that recent developments in the staffing of the Faculty of Theology and the new syllabus will gradually strengthen the theological education of the ordinands in the Department as the addition of the Warminster year has most certainly made more possible their growth towards personal and spiritual maturity and practical pastoral understanding and skill revision of the syllabus for the diploma is being made as and when opportunity permits Two new courses of lectures without examination have been introduced-the Comparative Study of Religions in the second year and Christian Ethics in the third Certain lectures are listened to by candidates for the diploma and candidates for the degree together other lectures are designed for separate audiences The interpenetration of the two courses at certain points is one of the distinctive traditions of the past which it is most desirable to carry through into the future More than £20 000 has now been received towards the endowment fund for professorship of Moral and Social Theology It would be gratifying if the Annual Report next year could announce that the endowment had been achieved professor in this neglected subject