EDUCATIONAL FUNDS.

PRIMARY SCHOOL FUNDS.

Seven per cent fund:

Amount on which the State pays interest June 30, 1903 $4,270,411 62
Due from purchasers of land, June 30, 1908..

Total seven per cent. fund June 30, 1908...

Five per cent fund:

Amount on which State pays interest, June 30, 1908...

Total school fund June 30, 1908...

38,395 47

$4,308,807 09

970,386 19

$5,279,193 28

INCOME ON PRIMARY SCHOOL INTEREST FUND.

Interest paid by State on seven per cent. fund during year
ending June 30, 1908...
Interest and penalty paid by holders of land on seven per
cent. fund during the year ending June 30, 1908, .
Interest paid by State on five per cent. fund...

$298,928 81

3,462 97 48,519 31

$350,911 09

$708,027 52
112 77

708,140 29 $1,059,051 38

UNIVERSITY OF MICHIGAN.

FINANCIAL STATEMENT OF THE UNIVERSITY OF MICHIGAN FOR THE FISCAL YEAR ENDING JUNE 30, 1908.

CONDENSED STATEMENT GENERAL, SPECIAL AND BUILDING FUNDS.