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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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