The amouut now on hand includes the advanced interest already paid for the year 1855. This will lessen the amount due, to the extent of such advanced payment. Loans and sales, however, during the winter will doubtless increase the income to such an extent, that the amount to be apportioned in March next, will reach the sum of $145,000 00. 6. THE UNIVERSITY FUND. This fund is composed of the nett proceed of the sale of University lands, and from the 5 per cent. penalty as forfeiture for the non-payment of interest when due upon University land certificates and loans from the University Funds. The transactions in this fund, during the year closing this day, are as follows, to wit: The records of this office exhibit the following as the present condition of this fund: Amount due on certificates of sale as per the books of this office, Add error of books in 1853, 125.557 18 10,359 10 This sum, except the amount above stated as being in the Treasury, is drawing interest at 7 per cent., payable during the month of January in each year. This interest constitutes 7. THE UNIVERSITY FUND INCOME. This is annually applied toward the current expenses of the State University. The transactions of the State Treasurer in the income of the University Fund for the year, are as follows: The capital of the University Fund drawing interest as above This sum will doubtless be increased by further sales, so that the amount subject to be drawn for the support of the University next year, will reach the sum of $13,000 00. The payment required to be made to the State Treasurer by vir tue of the act to provide for the completion of the Fox and Wis. consin Rivers, passed April 14, 1852, constitutes the Improvement Fund. The transactions in this fund, during the current fiscal year, have been as follows: |