Excerpt from Report of the Board of Governors: For the Year Ending 30th June 1918
During the year, also, the Board expended Out of income some upon the alteration and furnishing of the Annex to the Faculty of Education buildings at the corner of Bloor Street and Spadina Avenue. The placing of this building in commission has provided some additional class rooms and also accommodation in the way of rest rooms, etc., for the women students of that faculty.
The gross revenue for the year was The deduction of interest written to scholarship and other trust funds, gave a net revenue of which is an increase of slightly more than over the preceding year. The main items of income, however, were substantially the same, the increases being principally due to the use of the residences and dining hall by the military authorities and to the larger shares of heating and lighting expenses payable by the federated colleges; the latter, of course, being counter-balanced by greatly ia creased charges ou the other side. The item of fees remained fairly constant reach ing as against in 1916-17. The low-water mark in this respect has now, it is hoped, been reached.
The expenditure under the appropriations for salaries and maintenance was This represents an excess over the expenditure of the previous year of The principal factors contributing to this were the greatly increased cost of operation of the central heating plant, which was some higher, due to the enormous rise in the price of coal, and the special grant of which was made towards the maintenance of the Toronto General Hospital. An expenditure of.
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