Page Eight THE MICHIGAN DAILY Wednesday, December 11, 1974 3 9 s i I I ,. 3 . i i IN 1 I I II I li_. _ __._. . .. _. ._ _. .I $54,000 CONCE ALED: Governor admits to CREEP cover-up ers I ce Report to the University Community GOVERNING STRUCTURE The University Cellar is an agency of the University under the direct control of a student-faculty-administrator Board of Directors. The Board is composed of 6 students appointed by Student Govern- ment Council, 3 faculty appointed by the faculty Senate assembly and 1 admin- istrator appointed by the President of the University. Through this Board of Direc- tors the Cellar is responsive to the needs and desires of the entire University Community. The Cellar is incorporated as a Mich- igan non-profit corporation and is gov- erned by both State and Federal regula- tions on non-profit organizations. Any funds earned by the corporation are re- tained for operating capital. Any student of the University may be appointed to the Board of Directors. In order to insure that the Board is repre- sentative of a spectrum of the student community, the bylaws provide that no more than two members can be from any one school or college and that at least two members must be undergrad- uates and two members must be gradu- ate students. Two or three student seats will be filled in the near future. Persons inter- ested in being on the Cellar Board of Directors should contact the Student Government Council at 763-3241. The current members of the Board of Directors are: Paul Drever Thomas Easthone Allan Feldt Steve Goede Jim Heceman Donald Hornstein Georqe Isaac David Kopplin Gerald Krone James Miller student 764-6093 admin 764-7420 faculty 763-4190 student 764-0722 student 994-0062 student 994-0016 student 761-6455 faculty 763-4532 student 662-6678 faculty 763-2189 PERSONNEL POLICIES- The University Cellar has always fol- lowed a policy of offering employment on an equitable basis to all who apply. Anyone who applies during the pre- scribed pericds of time (see below) has an excellent chance of being hired to work during book rush. The following are the official policies of the University Cellar in regards to hiring: 1) Applications are taken for a spe- cific period of time preior to each Book Rush for that Rush only. All ap- plications taken between the 1st and the 15th of October will receive equal consideration for Winter Book Rush. All aoplications taken between the 1st and 8th of April and the 1 st and 8th of June will receive equal considera- tion for Fall Book Rush. 2) All applications taken during the times indicated in (1) will be random- ly placed into hiring order by the em- ployees Personnel Committee. 3) The Cellar will take applications at all times other than those in ( I), however, these applications will be placed in hiring order by date of ap- plication and will receive priority after those taken in (1). 4) After March 31st all unused appli- cations from Winter Rush will be thrown away. After September 30th, all unused applications from Fall Rush will be thrown away. It is necessary to apply during the time periods in- dicated in (1 ) for each Rush you wish to be considered for. No unused appli- cations from any Rush will be kept on file for any future Rushes. 5) Former Rush employees, in good standing, will receive first priority for Rush hiring over all new applicants and need not re-apply for future Rushes. 6) After Book Rush is over, if a per.. manent position becomes open, all Rush employees from the Rush prior to the hiring period who are available to take the job are considered. The selection is made solely on the basis of ability shown during the Rush period. 7) When a specialized job opening is available, the job is advertised and hiring is based on the qualifications of the applicant. This is the only area where working a Book Rush is not the criteria for being hired for a perma- nent job. As you will note, all qualified appli- cants are given hiring priority on a ran- dom basis. Because no discretionary cri- teria are used in hiring procedures, no abuse of hiring authority is possible. This insures that the Cellar will not turn into an organization staffed by the friends of those who do the hiring. Any questions or complaints concern- ing our hiring policies should be directed to our Personnel Secretary and/or Per- sonnel Committee. FINANCIAL- An additional goal of the University Cellar is to generate enough working capital internally to allow the elimina- tion of the $5 rolling assessment. The $78,000 in retained earnings from fiscal 1974 will make the elimination of the assessment possible in the near future. Retained earnings are projected to be significantly lower in years to come. The accompany statement of opera- tions and balance sheet are intended to give you a general idea of our financial picture. There are complete copies of our audited statements available either by mail or in person. People are available UNIVERSITY CELLAR, INC. BALANCE SHEET as of May 31, 1974 ASSETS CURRENT ASSETS: Cash Accounts receivable: Trade $ 23,651.60 Vendors 32,323.09 55,974.69 Less, Allowance for uncollectible accounts 5,212.56 Inventory Deposits and prepaid expenses Total current assets PROPERTY AND EQUIPMENT, AT COST Equipment 48,073.51 Building improvements and fixtures 85,037.54 $ 41,610.24 a a 50,762.13 521,335.77 4,099.94 617,808.08 DATLY OFFICTAL RTT .FTIN t .:".:.J sv':~.J". ..;.ty"; .".1';,.e i :i::"::if, :..a ;..";. ; """. ;::.".s r.r..":":"i.;":::.!!"4 133,111.05 Less, Accumulated depreciation TOTAL ASSETS 54,973.78 78,137.27 695,945.35 LIABILITIES AND CAPITL CURRENT LIABILITIES: Accounts payable Taxes withheld from employees Accrued payroll and other expenses Total current liabilities STUDENT ASSESSMENT DEPOSITS PAYABLE CAPITAL: Contributed capital: Board of Regents 100,000.00 Students 70,800.00 Earnings, retained for operating capital 142,240.96 Total capital TOTAL LIABILITIES AND CAPITAL 161,275.66 3,609.90 51,388.83 216,274.39 166,630.00 Day Calendar Wednesday, December 11 Classes End. WUOM: Panel discussion, "Who Runs Our Public Schools?" with Al-! bert Shanker, Pres.. Amer. Federa- tion of Teachers, & Carl Marbur- ger. chief spokesperson, National Committee. Citizens in Educ., 10 am. I.R.S.: iisheSdow, "One of Them," 6050 IS R, noon. Women's Studies: Nancy Seifer, "Working Class Women in America Today." Conf. Rm., 2, League, noon. Computing Ctr.: Prof. R. Phillips, CICE. "Spires: A Data-Base Man- agement System for Use in MTS," 130 P&A Bldg.. noon. Theoretical Seminar: D. Politzer, Harvard, "Quarks, Gluons. and the Renormalization Group." 2038 Ran- doll Lab.. noon. Physics: James Ball, Oak Ridge Nat'l. Lab.. "The Heavy Ion Accel- erator at Oak Ridge." P&A Colloq Rm., 4 pm. CREES: Leo Mates. former Yugo- slav. ambassador to U.S., "East-West Relations in Europe," E. Conf. Rm., Rackham, 4 pm. Industrial & Operations Eng.: Prof. R. Baum, "A Model to Access Resource. Policy, and Scheduling Decisions for the Baker Hospital Radiology Department, with the De- velopment of a Five Year Ex- pansion Plan." 229 W. Eng., 4 pm. Music School: Wind Ensemble, Harry McTerry, conductor, Wood- wind Quintet, Geo. Cavender, guest conductor, Hill And.; Seigfried Fink, percussionist, Recital Hall; 8 pm. both events. UM-Dearborn: "Winter Festival Concert," Edsel Ford High School Aud., 8:30 pm. Dance: "Solstice: A Celebration of Dance. Concert I.' Barbour Studio, 9 pm. Career Planning and Placement 3280 SAB, 764-7460 Job Interviews for Srs: Specific information on conference in Ch)- sago, Grand Rapids, Canton & To- ledo. Ohio, & Philadelphia., PA. ata ilable at CP&P. Full tuition for grad, study in Mktg. at U. of Cincinnati & train- ing offered by Burke Mktg. Re- search: write.: Sanford Cooper. Pres. 1529 MadisonaRd.. Conn., OT 45206. One-vear's Master's degree in .Journaism, Colimbia U. for hu- manities & science majors; write: Asst. Dean, Grad. School of Jour- nalism. Columbia U., NYC; 10027. Mauer of Public Admin, Penn St. U. new program. Prerequisites: acetg.. econ, statistics, GRE (apti- tude test only> must be taken in Dec. or .Jan. for June admission. Tl'ti 11 mo.rogram prenares for C(ix Mxt., Urban Planning, 'Pub. Poliev Analysis. Health Care Plan ii ug. & general gov't. admin. posi- tions. Grad. Program in Urban Stu- dies. some financial aid available. Washington U.. St, Louis - to pre- pare for urban planning & admin.. social policy development, & ethnic policies. Contact: Glen Hold, 252 McMillan Hall, Washington U. Spe- cial Program in Alcohol & Drug Addiction Community Education at Western Mich. U. Contact: Dr. Thos. Williams. 857 Buckhout St., WMU, Kalamazoo 49008. intenational Relations Graduate Fellowships, U. of Denver; joint programs in Law, Admin., Econ., & Soo!.: deadline: Feb. 15; write: Dean, Grad. School, U. of Denver, Denver, CO. 80210 CP&P will be closed December 20--January 6, 1975. ya~mmer lacemnent 3204 SAB Apul. deadline for Park Ranger 03, Michigan Oen Exam, Dec. 16. '74: applications available. Green- field Village / Henry Ford Museum, Dearborn; information on interview schedule now available. Summer Federal Service' Exam - deadline for applying for January test is December 13. Applications available. WASHIIJNGTON (A") - Former ! Montana Gov. Tim Babcock nl-aded guilty yesterday to ille- P ally concealing the origin of '54,000 in nolitical contributions from multi-millionaire Armand Hammer to the 1972 Nixon re- election campaign. Hammer, a global patron of the arts and chairman of the Occidental Petroleum Corp., is under investigation for similar charges, the Special' aWtergate Prosecutor's office said. BABCOCK, 55, a Republican, admitted that from September 1972 to June 1974 he "did aid and abet Armand Hammer in the commission of the of-1 fense . . ." A criminal information, or charge, filed in U.S. District Court said Babcock made three deliveries in cash from Hammer to the Finance Committee to Re-I elect the President. Instead of listing Hammer as: the contributor, he identified = five other persons, including himself, as the source of the funds. The other four were Jer- ome Anderson, Elmer Balsam, Gordon Doerine, and Willard Tolter, a state Republican offi- cial in Montana. NO LEGAL action was exnect- ed by the special prosecutor' office against the four men whose names were used in mak- ing the contributions. Babcock at the time was a vice nresident for Occidental In- ternationnl, a subsidiary of IUmmer's narent firm. The former governor is the current owner and manager of radio and television station KT- CM and the owner of a motel in Helena. CHIEF U.S. District Judge George Hart postponed senten- cing. Babcock could be senten- ced to a maximum one year in jail or fined $1,000 or both on the misdemeanor charge. Hammer, 76, lived for many years in the Soviet Union and last May helped negotiate a $780 million loan to that country to help finance construction of a huge fertilizer compley. The loan, negotiated through U.S. Export-Import Bank, was described at the time as the largest ever by the institution for the Soviet Union. HAM MER, who has collected millions of dollars worth of art works, was challenged by the Tnternal Revenue Service ear- lier this year on the value he claimed for paintings and sculp- ture. The TRS said Hammer owed $154.000 in additional taxes for 1966 and 1967, saving he overes- timated the value of two paint- ings donated to the University of Southern California and a sculp- t're given to the Lyndon Baines Jol'nson Library in Texas. A letter from former Skecial P~roseitor Leon Jaworski to Rahhock's lawyers accompanied his guilty nlea. Th~aletter dated Aug. 21, 1974, s=id Bahco(-k agrees to testify as a witness in any legal pro- +-ii- connected with the con- triblitions. 313,040.96 $695,945.35 HISTORY- The University Cellar started out as a project of the Student Government Coun- cil. Originally it was located in about 300 square ft. in the Student Activities Building. During the first 8 months of operation the Cellar (then known as the University Store) did a gross business of $40,000. In the fall of 1969, students pushed for and won the right to create a student controlled bookstore. Up until this time the University Store had not been allowed to sell books. To provide the operating capital two things were done. $100,000 was transferred from the old student parking fund, which was being held by the University for a stu- dent project. The student body, in a record turn-out vote, assessed themselves a rolling $5.00 fee to capitalize the store. The vote passed by more than a ten to one margin. Since that time the U n i v e r s i t y Cellar has grown into a $2,500,000 per year operation occupy- ing more than 10,000 sq. ft. in the Michigan Union Building and operating another 10,000 sq. ft. of warehouse space. During the Summer of 1974, the Uni- versity Cellar opened a branch store in the North Campus Commons serving the students of the A & D School and the Mu-ic School. PURPOSE- The University Cellar exists for the purpose of providing services and pro- ducts to the University Community which would either be over-priced or un- available without the Cellar. Toward this purpose the Cellar has not only offered low prices but forced other area busi- nesses to lower their prices. When the Cellar introduced the Xerox Service, the cheapest price available in town was 9c per copy. The Cellar has not only forced STATEMENT OF OPERATIONS for the year ended May 31, 1974 SALES: Merchandise Commissions and other Total sales COST OF SALES Gross profit OPERATING EXPENSES: $2,693.808.27 16,891.90 2,710,700.17 2,059,491.10 651,209.07 Advertising Data processing Depreciation $ Dues and subscriptions Freight Insurance: Health contribution Workmen's compensation and retirement Fire, burglary, liability, bonding 9,850.21 2,047.95 16,723.86 2,254.26 5,855.27 1,748.47 1,687.99 7,659.66 Buy two-- Get one Free! By Mail 90-Minute Cassettes Memorex will mail you one free C-90 cassette when you7 - buy two C-90's at regular price. a YMEMOREXRecording Tape "Is it live, or is it Memorex?" ULRICIIS 549 E. UNIVERSITY AVE. Office expense Outside services Payroll taxes Postage Professional fees Rent Rentals, miscellaneous Repair and maintenance Salaries and wages Supplies Telephone and telex Truck expense Uncollectible accounts Utilities Miscellaneous Earnings from operations Interest income Interest exoense 444.29 10,350.82 9,197.95 2,292.93 7,829.12 66,352.60 r 44021 38 1 1 6,120.32 6,611.15 5,193.45 2,996.84 DON'T WORRY ABOUT THE COLD. 684.35 2,000.00 Keep warm this winter in one of our 1,412.30 HANDMADE LAMB FUR COATS I 2,297.44 577.051.44 (some hooded) 74,157.63 6,465.34100% WOOL HANDKNIT MITTENS, GLOVES, AND SOCKS 2.019.65 '80,622.97 I