Artifacts II
This excerpt from the 1882 Regents' Report, gives specific accounting numbers for the university. In 1882, the university's income hit the level the regents had been expecting. For a two year fiscal period a total of $123,349.26 was received. This is a stark contrast from $13,984.50 received in 1880.
Coincidentally, 1882 was the first year the regents did not ask the senate to take action with the federally endowed land.
In 1884 the income from land leased and interest on sold lands began to seriously materialize. The expected two year income from these lands was $70,000, with an additional $17,000 in delinquent lessees. Thus $84,000 was allocated to the university budget.
The regents paid respect to the gifted land from the Morrill Act, giving it credit for one third of the university's income.
Brief accounting numbers are also delivered. From these numbers it is evident that the university's income was increasing from the endowed land.
Again it can be seen that the university's income continued to grow as the interest on the invested funds continued to grow exponentially.