Calendar: 1965-1966 Page 429

Annual Report of the Council xiii FINANCE Income and Expenditure Account The income from fees amounted to £14 198 Expenditure on the salaries of the teaching staff was considerably more than last year owing to salary increases from April 1st 1964 Departmental expenses also increased owing to higher printing costs and larger grant to the Union Society reflecting the higher number of students Maintenance of Premises showed decrease on last year's expenditure With the Grant from the Church Commissioners remaining as before the year's working showed deficit of £922 compared with surplus of £2 163 in 1962-63 Corporation General Fund Account Income was received from the usual sources and after meeting ex- penses the account showed surplus of £1 592 which has been trans- ferred to the Special Reserve Fund King's College Hostel On July 31st 1963 net deficit of £28 was carried forward During 1963-64 vacation lettings brought in £2 567 compared with £2 588 last year The total income for 1963-64 was £15 092 last year it was £14 837 Expenditure was £14 324 compared with £14 639 last year On Repairs and Decorations an accumulated deficit of £667 has been reduced this year to figure of £36 The rewiring of the building with consequential redecorations was carried out at cost of £2 853 which was met by special grant of £2 250 from and the remain- der from the College Special Reserve fund The year's working has shown surplus of £769 compared with surplus of £981 last year The net surplus carried forward at July 31st 1964 was £1 373 King's College at St Boniface College Warminster During the present year the total income amounted to £15 551 compared with £14 397 in 1962-63 Expenditure for the current year was £15 715 compared with last year's figure of £15 471 Both wages and the cost of food and stores have shown an increase The result of the year's working was deficit of £164 compared