Volume 94, Issue 52

Thursday, November 30, 2000


NEWS

New fund opens door for Western

York strike turns ugly

Law faculty boosted with new scholarship program

Alliance faces problem of uniting the right

Campus Briefs

New bill aims to seize mob profits

New fund opens door for Western

By Chris Lackner
Gazette Staff

Western's Board of Governors is set to approve the creation of an unrestricted endowment fund today, which can be used to respond to areas of financial priority in the future

Ted Garrard, Western's VP-external and a member of the Board of Governors, said the BOG is likely to approve the recommendation for the creation of the Western fund, which will be composed of donations from faculty, staff, individual alumni and partners of the university.

"We'll be using the income to fund the most important needs of the university," he added. "It will give us flexibility. The majority of donations we receive are tied to things like buildings and scholarships."

Garrard said Foundation Western will manage the funds, but the decision to allocate the funding will be made by Western's president, vice-presidents and the Board of Governors.

He said another benefit of the new Western fund, is its ability accept small donations, as well as large donations. "It all adds up in the end," he noted.

Joel Adams, the undergraduate student representative on the BOG, said one of the biggest problems when it comes to university fundraising, is money being specifically donated towards particular buildings, scholarships and professors.

"Westerns needs change every year," he noted. "This will make it more appealing to donate to the university without specific attachments, with the creation of an unrestricted donation fund."

"It's a great idea," he added. "It's very similar to endowments in social science or other faculties, who receive levies through student fees then use them to fund specific projects. (The Western Fund) can accommodate students each year. It's going to be a major part of funding in Western's future. It will include projects which will benefit students and other members in the university community."

Roland Haines, associate dean of science, explained his faculty takes a levy out of fees students pay at the beginning of the year and allocates the funding as the faculty needs. As a small scale version of Western's proposed unrestricted endowment fund, he noted the science levy works quite well.

"It's very beneficial. It meets the needs of the faculty," he added.


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