H.A.A. HAS EXCESS TOTAL INCOME OF $36,729 FOR YEAR

An excess in income over expenditures of $36,729.36 is shown in the financial report of the Athletic Association for the twelve months ending June 30, 1932, it was announced by Henry L. Shattuck '01, Treasurer of the University, yesterday. This gain comes despite a decrease in net receipts of $138,585.84 over the previous year.

In 1931-32 the amount available for athletics and physical education, after deducting guarantees to visiting teams, amounted to $639,635.11 as against $778,220.97 during the year ending June 30, 1931.

Football, again, was the only sport which showed an excess of income over expenses. The income for varsity football was $483,750.98 as against an expense of $110,776.97. This item includes all costs of the stadium contests. Every varsity major sport team except the varsity track team decreased its expenses in comparison with 1930-31. The varsity track team showed a slight increase because of the expenses involved in the Oxford-Cambridge trip. Notable was the reduction in the expenses of the crew to $27,688.70 as against $42,425.84 in 1930-31. Administration and other expenses were reduced to $102,973.12 as against $130,795.05 in the previous year. The expenses for minor sport teams and the physical education department were reduced by $24,780.81 with no curtailment of the program.

The report discloses that the Athletic Association's surplus for the financial year was gained through economy in all sports and elimination of practically all expenses for permanent improvements. The total reduction in expenses of the Association as a result of rigid economies practiced was $124,762.87.