institutionalfinance

Voters Back Tax to Support New Medical School for UT-Austin

Voters in the Austin, Texas, metropolitan area supported a tax increase proposal on ballots Tuesday that will provide revenue to support a new medical school at the University of Texas at Austin, a longtime ambition for the flagship university that it has struggled to support financially.

The new tax is the final piece of the funding puzzle administrators said they needed secured before they moved ahead on the school. University administrators said Tuesday that they would appoint a committee to choose a dean, select a location for the school, and finalize partnerships. They said they hope to have a medical school and teaching hospital in place for a first class of 50 students by 2015.

Berkeley Completes Campaign to Endow 100 Chairs

The University of California at Berkeley announced Tuesday that it has created 100 endowed chairs by matching a $113 million grant from the William and Flora Hewlett Foundation. The grant was made amid concern that Berkeley risked losing star faculty members to private institutions in an era when the state could not be counted on to support faculty salaries. By endowing the chairs, the university hopes to hold on to and attract top faculty talent, which in turn is expected to attract top graduate students.

 

Layoffs at Judson U.

Judson University, facing a deficit of $165,000, has laid off 21 staff members and announced that it will not renew the contracts of 11 faculty members, The Daily Herald reported. Officials of the Elgin, Ill., university said that there were not causes for serious concern, but that the employee total had perhaps grown too rapidly in recent years.

Ad keywords: 

City College of San Francisco Begins Downsizing

City College of San Francisco's governing board early Friday approved changes to its leadership structure, the San Francisco Chronicle reported. The college, which is facing dire accreditation and budget woes, will require that dozens of academic department chairs go back to the classroom and relinquish their administrative duties. The move, which will save an estimated $2 million, was part of the first stage of a broad downsizing. Trustees also approved cuts to college-operated child-care centers.

Early endowment results show college investments lost value

Smart Title: 

Preliminary data from annual survey of college endowments show that institutions averaged a small loss in investment wealth, with institutions of all size seeing minimal returns.

U. of California Ordered to Disclose Venture Fund Returns

A state judge on Tuesday issued a tentative ruling ordering the University of California System to obtain and release data on the performance of specific venture funds in which it has investments, Reuters reported. The university has maintained that the information isn't covered by open records laws because it receives investment performance in aggregate, not fund by fund. But the judge ruled that the university must make a "good faith" effort to obtain the information, and then to release it.

 

Ad keywords: 

California Cuts Lead Students to Private Colleges

California's budget cuts to public higher education are leading more students to look at private colleges and universities, the Associated Press reported. Some public students, frustrated by being closed out of sections of courses, are transferring. Others, hearing such reports, aren't going public in the first place. Enrollment at the University of La Verne has increased 70 percent in the last five years. Saint Mary's College of California has seen a 51 percent increase in applications since 2009.

 

U. of Cambridge turns to bonds, and some worry about the risk

Section: 
Smart Title: 

U. of Cambridge turns to bonds, an unusual approach in Britain, but some fear risks associated with the strategy.

No Evidence Found That Dartmouth Violated Law With Investments

The New Hampshire Attorney General's office said Friday that allegations from this summer that Dartmouth College trustees steered the college's investments toward their own firms did not merit further investigation and that the office had found no evidence of wrongdoing. An anonymous letter to the office earlier this year alleged that at least 10 Dartmouth alumni who sat on its board of trustees and investment board had made investments that were good for them but bad for the institution's long-term financial health. "Based on the unsupported nature of the allegations in the Complaint, the content of the Responses, and our review of the college's most recent financial statement," the office wrote in a letter to the college's general counsel Friday, "we find no basis to conclude Dartmouth's Trustees have violated state law by engaging in related party transactions involving the investment of a portion of Dartmouth's endowment."

“The Attorney General’s finding that these anonymous and baseless allegations are without merit speaks to the rigor of Dartmouth’s policy and practice," the college said in a statement. "As we have said previously, Dartmouth meets or exceeds all the requirements of New Hampshire law with regard to its endowment investments and for investments with firms managed by trustees or Investment Committee members.”

Opposition to Lucrative Parking Idea at Indiana U.

Faculty and staff members at Indiana University at Bloomington are signing petitions and protesting the idea of a long-term lease by the university of its parking facilities, the Associated Press reported. Ohio State University recently signed a deal to lease its parking facilities for 50 years -- earning Ohio State $483 million. Indiana officials want a similar deal, but employees say that they fear a loss of jobs and less control over the fees charged to those who park there.

 

Pages

Subscribe to RSS - institutionalfinance
Back to Top