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15.
If the above is accepted we are at once faced
with the necessity of suggesting economies of a "long-
term" nature even if we need not recommend the emergency
methods that have too often been unavoidable in the past.
16. Two comparatively minor economies present
themselves. The House Allowances paid to members of the staff who live out at present average about $20,000
per annum. We suggest that the allowances now paid to
married men with families, married men without families
and bachelors respectively are too high if rent alone
is considered. As a proof of this we understand that
there has been a certain reluctance to occupy the
quarters provided at the University. We are told, for
example, that certain married quarters are at present
occupied by individual bachelors while married officers
live out and draw the highest allowance. Such a
situation is in our opinion one that should not be
allowed.
17. We also suggest that the Finance Committee
should investigate the possibility of erecting a block
of flats in the University grounds for the use of the
staff. The exact figure must depend on the numbers
to be accommodated, but even on the basis of borrowing
funds for the building we are satisfied that an
approximate saving of $10,000 a year as against the
present allowances would be possible. If the Shanghai
mortgage portion of the endowment fund can be realised,
this would seem to be a profitable method of reinvesting
that portion of the endowment fund.
18.
Secondly there is the Sterling Superannuation Fund. Apart from the contribution made by the University,
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