UW System suspends payments from 30 endowments
MADISON, Wis. (AP) — The University of Wisconsin System is suspending payments from 30 endowments whose values have dropped in the recession.
System President Kevin Reilly said Friday the move will mean $700,000 in reduced payments for scholarships, projects and other initiatives.
He says the value of all 30 endowments have dipped below their original values. He says suspending the payments makes sense to protect the funds for the long-term rather than erode the principal.
The funds were created by donors for various purposes and are held in trust by the Board of Regents.
Reilly says campuses will reallocate money from other sources to make up for some of the lost revenue while activities will be cut in other cases.
Feb 7, 2009 at 9:03 a.m.
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WHAT? THE? .....
Feb 6, 2009 at 1:37 p.m.
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I certainly hope things workout.....People need fat ladies to give them hope. I just don't understand why UW still advocates fear among fat people.
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