Volume 94, Issue 53

Friday, December 1, 2000


NEWS

New fund gives BOG carte blanche - endowment fund OK'd

Grad exit survey questioned

Men hope to end violence with ribbons

Regina U looking to expand with help

Liberal victory means more than just a win

Former council bids farewell

Corroded Disorder

New fund gives BOG carte blanche - endowment fund OK'd

By Chris Lackner
Gazette Staff

A new Western funding initiative was given the green light at yesterday's Board of Governors meeting.

In a unanimous vote, the BOG approved the creation of the Western Fund, an unrestricted endowment fund which can be used to respond to the university's future financial needs.

Rosamond Ivey Thom, chair of the development and fundraising committee for the BOG, said she was hopeful the fund would bring a positive impact to the university.

Thom said the fund will allow unrestricted donations to enter a pool, which can be administered to any areas of the campus which are in the most need. "In times of budget constraint it will give the university flexibility," she said.

"More and more money is being given to Western from corporations and individuals, but these funds are directed to specific purposes," she said. "The university has less and less input into where it gets to spend its endowment money. That's fair and understandable because many graduates like to see their own faculties do well."

She said public institutions, such as universities, hospitals and cultural organizations, usually receive restricted funding, despite the fact that their administration often has a better idea of where critical funding is needed.

Thom said there are two main reasons why people and corporations should consider unsolicited funding to the university. "We need to educate people on the severity of government cut backs to operating costs, as well as convince them that, if they have confidence in the people running an institution, they should be a supporter."

Ted Garrard, Western's VP-external, said he had high hopes the Western Fund could raise between $5 and 10 million over the next five years, and allow Western to allocate $500,000 in funding per year.

Garrard provided an example of something the fund could be used for. "Recently, Student Health Services asked for funding to purchase defibrillators, which was not accounted for in the university operating budget," he said, adding the existence of the Western Fund could provide finances for such unforeseen initiatives.

Garrard said it is now the university's job to raise funds among supporters in the community, and make a future report to the board on their success.

Joel Adams, undergraduate student representative on the BOG, said the new fund will benefit all parts of the university. "It's going to provide a major part of funding in the future – projects which benefit students and other members in Western's community."


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