DAILY TROJAN, Vol. 59, No. 24, October 19, 1967 |
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University of Southern California
DAILY ® TROJAN
VOL. LEX
LOS ANGELES, CALIFORNIA, THURSDAY, OCTOBER 19, 1967
NO. 24
LAW CROUP FORMED
Center to study poverty
The Law Center announced a new weapon in the war on poverty last night—a regional legal center to handle precedent-making cases and do fundamental legal research on behalf of the poor.
The Western Center on Law and Poverty will be coordinated by Dr. Martin Levine, associate professor of law.
The center, cosponsored by all the legal service agencies and university law schools in Southern Calfornia, will have headquarters at the USC Law Center.
It expects to provide the poor with the legal assistance up to now available only to the well-to-do.
The center intends to provide a back-up service to local legal aid offices, supplying the research and specialized services no one office can provide. Attorneys, law students and law professors will work together on the staff.
In addition, it is designed to act on the adage that “an ounce of prevention is worth a pound of cure,” by working in community education and preventative law—a
DR. MARTIN LEVINE Law and Poverty Coordinator
concept advanced by Dr. Louis Brown, adjunct professor of law at
USC.
The center's fourth function will be to train attorneys and staff for the legal side of the war on poverty.
Unique to the Western Center on Law and Poverty is its utilization of law professors and practitioners to solve the difficult legal problems of the poor.
The combination will also include joint appointments of teachers of law to practice at the center. Law students from several schools will give research assistance.
“They will get practical experience in the law, while the attitudes of professional responsibility they learn will benefit the entire profession,” Dr. Levine said.
The U.S. Office of Economic Opportunity has approved $200,000 for the Western Center, enough to hire eight attorneys and a supporting staff for the first five months of the project. The yearly grant will exceed $400,000.
The center's formation was announced at the first meeting of the board of directors, at the center. The Board will include representatives from USC and UCLA law schools, the legal profession, legal service agencies, and the underprivileged community.
Information release policy to continue
Thieves loot autos for over $10,000 during six-week period
Bv JIM STRAIT
More than $10,000 worth of property has been stolen from automobiles in the immediate campus area within the last six weeks.
The University Division of the Los Angeles Police Department has just completed a survey showing that from Sept. 1 until Oct. 10, 71 crimes were reported in the immediate U SC area.
A total of $10,141 worth of stereo-tape players, radios, clothing, golf clubs and that old favorite, hub caps, was stolen. This includes only burglary or theft from motor vehicles.
The survey stopped on the 10th of this month, but the thieves didn't. On Tuesday alone, $1,182 worth of stereo-tape players was reported stolen.
The department conducted last month’s survey because of the unusually high incidence of theft from autos in the immediate area, including the Row and main apartment areas.
The survey shows that 31 of the 71 crimes took place during the day. between 8 a.m. and 4 p.m.
In 40 of the crimes, the cars were parked on the street and in 20 of the eases they were in parking lots. The res* of the cars were in car ports, alleys and driveways.
The main items of interest to the thieves seemed to be Muntz stereo-tape players, of which more were
stolen than any other type of tape
player.
The thieves seemed to prefer breaking into Volkswagens and Chev-rolets. since each make was burglarized 19 times. Ford ran third with 13. No sportcars were reported as having been looted.
“Students should always lock their cars, and if they must leave valuables in cars, they should be left out of sight, in either the trunk or the glove compartment,” officer Art Congnotti suggested.
“If a student is thinking of buying a stereo-tape player, he should look into the possibility of having it mounted either in the glove compartment or under the seat, where it won’t be visible.”
The last seven days have been successful for burglars in addition to the $1,182 worth of stereo-tape players stolen Tuesday.
On Monday, Beverly A. Crooker, 2710 Severance St., had a $75 watch stolen.
Last Saturday, however, a minor crime wave hit W. 30th Street. A burgler tried to break into four apartments within a small area.
At 809 the thief got $51 worth of clothes from Larry Anderson. Next door, at 809'L>, the thief stole $70 worth of property from S. J. Schwarz. The two other apartments that were hit, at 811*4, and at another apartment at 809^ had nothing stolen be-
cause the thief was unable to get in.
A TV, typewriter, tape recorder and liquor, worth a total of $750, was also stolen on Saturday from Ruben P. Marco, 3571 McClintock St.
Another stereo-tape player, valued at $105, was stolen from an apto belonging to Frank D. Veiga at 3019 University Ave.
On Friday a $150 wristwatch was stolen from Karen Swenson at the Alpha Phi Sorority house.
By HAL LANCASTER Editor
The university, for the time being, will continue to release nonacademic information about faculty members and students to outside sources.
A resolution to forbid this activity was voted down at the first University Senate meeting of the semester yesterday.
Apparently, it has been university policy in the past to allow the release of any information to outside sources. This included information about outside activities, and comments on character to prospective employers and government agencies.
The resolution, proposed by the Senate Committee on Faculty Interests and Responsibilities, met with strong opposition from the professional schools. and was referred back to the committee.
“You say what you care to say about an individual, you don’t legislate against this,” Dr. Robert Dock-son, dean of the School of Business, said.
“I submit you have gone too far,” Dr. Henry Reining, dean of the School of Public Administration, said.
The possibility of a resoluton to forbid this activity was initiated last spring.
Dr. Colin Lovell, professor of history, explained that an article in West magazine quoted a member of the State Un-American Activities Committee as saying that he had not received this kind of information from UCLA, Pomona, or Scripps Institute, but had received it from USC.
“The function of a university is to give university work.” Dr. Lovell said, “not to divulge information relating to nonacademic areas.”
Dean Reining cited the example of a student who is eligible for a city manager's job.
“Under this resolution, the way I interpret it, I can’t tell the city officials what kind of a guy he is.
“You’re basically aiming at the FBI, the military and the Un-American activities committee. I submit you have gone too far,” he said.
The resolution, presented to the senate by Dr. Chester Hyman, professor of medicine, read:
“This senate is of the opinion that the divulgence by the university of any nonacademic information concerning any individual member of the faculty or of the student body without the express and specific consent of such faculty member or student to any agency or authority external to the university is detrimental to the morale of the university, deleterious to its reputation, and contrary to the traditions and values of a free university in a free society. Nothing in the foregoing shall be construed to prevent transmission of information required for the health, welfare or safety of the individual.”
Most of the professional school representatives spoke against the res-
olution. In addition to Deans Reining and Dockson, Samuel T. Hurst, dean of the School of Architecture and Fine Arts, and Dr. Irving R. Melbo. dean of the School of Education, also spoke against the proposal.
Dean Melbo said that the resolution would jeopardize the school's Placement Bureau, in that it could not divulge nonacademic information about job applicants.
Dr. Hyman said, however, that the opening of a file with the Placement Bureau, constituted “express and specific consent.”
In other reports to the senate, Thomas Nickell, vice-president of university planning, said the last fiscal year was the largest in USC's history, with donations reaching $18 million from private sources and $1.051.000 from annual giving.
Lewis Stieg, university librarian, reported that $310,000 had been allotted for new books this year, an increase of $66,000 from last year.
MOVES TO MUSIC CENTER
Dr. Kendall named Arts Council head
'CRUSADE' RALLY SET BY JORDAN
Rusty Jordan, yell king, will issue another call for spirit at the rally today at 5:15 between the Physical Education Building and Bovard Field. It will be the football team’s last practice before leaving for the soggy playing fields of Washington, and Jordan is hoping for the biggest turnout of USC supporters yet.
“If Washington is off on a crusade to beat us,” Jordan said, “we’ll make this a second crusade.
“From here on, every game is a big game; we’re playing for the national championship and the Rose-Bowl.”
A second rally will be held Friday when the team boards the buses for the airport. The buses will leave at 11:15 a.m.
“Washington has been hard to beat up there in the past,” Jordan said,” and nothing would inflate their egos like heating us while we’re No. 1.
Active student support is part of winning the game and we want to make sure at least part of the contest is decided before the team hoards the plane.”
Dr. Raymond Kendall, who recently resigned as dean of the School of Performing Arts, has been appointed president of the Performing Arts Council of the Los Angeles Music Center.
The Daily Trojan reported last week that Dr. Kendall had resigned to accept an assignment with the Music Center as director of future planning.
Dr. Kendall is on a two-year leave of absence from USC as a professor of music. He will continue on a part-time basis to direct the Project for the Training of Music Critics, which he started four years ago under a Rockefeller f oundation grant.
He has resigned as dean because he does not want to leave the school without a dean for two years.
As council president, Dr. Kendall will administer to all the resident groups of the Music Center, including the Southern California Hollywood Bowl Assn., the Los Angeles Civic Light Opera Assn., the Center Theatre Group, the Music Center Opera Assn., the Southern California Choral Music Assn., and the Young Musicians Foundation.
He also will help administer the opportunity fund which provides underwriting for special educational and cultural projects within the Music Center complex.
In accepting the new appointment, Dr. Kendall expressed the hope
could be established at The Music Center.
“There is a need for a Performing Arts Center to have a strong and vigorous educational dimension.’’ he said, “not only in the sense of a school or academy, but to build new audiences and to obtain a limited number of highly competent professional, technical and management personnel for the performing arts.
"IvOe Angeles is ready for such an academy of limited size but of premium quality.”
Tickets on sale tor Cal game
Rooters tickets for the Cal game on Nov. 4 must be picked up by 4 p.m. Friday. Students with ID.'s can obtain them in the Ticket Office for $2.50; reserved seats are also on sale at $5 each.
Tickets to this week’s Washington game in Seattle are all sold out. Date tickets for the Oct. 28 Oregon game at the Coliseum are on sale through next Tuesday for $5.
Reserve seats are available for the Oregon State game at Corvallis on Nov. 11 for $5. There are no rooters tickets for that contest.
Students have until Nov. 6 to exchange their activity book coupons for UCLA game tickets at the Ticket
that an academy for performing arts Office.
USC's endowment-based finances are insecure, but
• • •
By BOB INGRAM
Private liberal-arts colleges are in great financial trouble, a recent Fortune Magazine article said.
“By next spring, the combined deficits of the top 20 financially stable U.S. private colleges will be $3 million.”
This dim financial outlook raises several questions. First, how do private colleges overcome their deficits? Second, how does USC deal with its financial problems?
University officials are hopeful USC will be able to avoid serious financial trouble in the future.
At USC, as at all private institutions, most financial assistance comes from endowment funds, garnered from foundations, alumni, businesses, friends of the university, and the federal government.
"The more important factor is not the amount of endowment funds, but the amount of endowment per student,” Dr. Carl Franklin, vice-president of Financial Affairs, said in a recent interview.
On total endowment, USC could boast that it was in close competition with the top 20 schoolB, but the term “financially stable” means that these schools have a far greater endowment per student than USC, Dr. Franklin explained.
At this time, USC has approximately a $27 million endowment for
average full-time enrollment of
13,500. The average endowment per student is $2,000.
A small private college with 650 students and a similar endowment, would average an obvious difference per student.
This disparity means a much smaller tuition could be charged at a school which has a large endowment rate per student.
However, schools use endowments not only for tuition, but for construction and scholarships. There are also different types of endowment funds.
which can be designated for specific purposes.
“The two different kinds of endowments are called unrestricted and restricted,” Dr. Frankln said.
“The restricted endowment is designated by a donor for a specific purpose, such as for scholarships.
“Their use is determined by the president and trustees.
"Endowments can even be in the form of trusts.
“The three parties are the trustor, the trustee, and the beneficiary.
The trustor, or donor, establishes the trust; the trustee manages the trust; and the beneficiary receives the benefits.
“The donor may also indicate that this donation is to be a life income trust.”
This means the income may be received by himself or other members of his family before the university has possession.
A new concept of trusts and endowments was reported in the Oct.
2 issue of the National Observer:
“Yale University is planning to set up its own investment-advisory company in hopes of getting a greater return on the investment of its $507,000,000 endowment funds. If the school’s governing board approves the idea . . . Yale will become the first major college or university to make such a move.’’
USC now employs a different approach in administering endowments.
"We have an endowment portfolio under the direction of the Finance and Budget Committee of the
...British schools thrive on socialism
The control of the British government over universities in that country now extends from their inception to the shape of their future development, a London educator said at the Faculty Center yesterday.
Sir Sydney Caine, director of the London School of Economics and Political Science, said the government’s control can be so effectively exercised because 90 percent of British universities' finances come directly from the government.
The primary areas of government control outlined by Sir Sydney included :
• The shape of future development, controlled by granting money
only after applications have been made for specific projects planned within the next five years.
• The growth of student size, W’hich is also dependent on the size of government grants.
• Faculty salaries, decided by a national agreement of the British teachers’ union and administrative heads, which sets maximum^ and specifies quotas for each teaching level.
• Tuition fees, which art* easily controlled because the government grants scholarships of at least an equal amount to practically all students admitted to a British university.
• The imposition of additional fees for overseas students in some schools, enacted despite “the violent protests” of the universities.
• Maximum standards on buildings, such as the size of room allowed for a full professor.
• The size of graduate programs, which are determined by the number of graduate studentships granted to each university.
“The overwhelming feature of most British universities is their almost total dependance on government grants.” Sir Sydney emphasized.
Although Oxford and Cambridge Universities — “whose origins are lost in the medieval mists”—receive
a large part of their financing from private gifts, other universities, most of whom have been established from scratch at t h e government’s order, must submit specific designs for the awarding of specific grants.
The programs are submitted to the University Grants Committee, which meets every five years to allocate the money and often during the interim period to make adjustments.
“I suppose this is just all part of a developing effort to maintain a balance,” Sir Sydney concluded, “between social needs of our country and the maintenance of intellectual freedom.”
Board of Trustees,” Dr. Franklin explained.
“The Investment Committee of the Trust Department of the United California Bank advises the Finance Committee on USC's investments.
“The difference between Yale and USC is Yale will only consider its owti portfolio of $507 million. USC has only a $27 million total endowment, so we cannot justify managing our own investments.
“But our basic principle of investments is the same as Yale.”
The staff advising USC on investments consists of several experts, but their fees are extremely low because they are interested in helping the university, Dr. Franklin said.
Comparing USC’s financial situation to other private universities, Dr. Franklin admitted, “Our total endowment is very low for a major university.”
The endowment funds at USC, however, have increased threefold during the last nine years since Dr. Topping became president, including an increase of $1.2 million during the past year.
Continued financial progress, he
feels, will perhaps enable USC to
avoid possible financial deficits in the future.
Object Description
Description
| Title | DAILY TROJAN, Vol. 59, No. 24, October 19, 1967 |
| Description | DAILY TROJAN, Vol. 59, No. 24, October 19, 1967. |
| Full text | University of Southern California DAILY ® TROJAN VOL. LEX LOS ANGELES, CALIFORNIA, THURSDAY, OCTOBER 19, 1967 NO. 24 LAW CROUP FORMED Center to study poverty The Law Center announced a new weapon in the war on poverty last night—a regional legal center to handle precedent-making cases and do fundamental legal research on behalf of the poor. The Western Center on Law and Poverty will be coordinated by Dr. Martin Levine, associate professor of law. The center, cosponsored by all the legal service agencies and university law schools in Southern Calfornia, will have headquarters at the USC Law Center. It expects to provide the poor with the legal assistance up to now available only to the well-to-do. The center intends to provide a back-up service to local legal aid offices, supplying the research and specialized services no one office can provide. Attorneys, law students and law professors will work together on the staff. In addition, it is designed to act on the adage that “an ounce of prevention is worth a pound of cure,” by working in community education and preventative law—a DR. MARTIN LEVINE Law and Poverty Coordinator concept advanced by Dr. Louis Brown, adjunct professor of law at USC. The center's fourth function will be to train attorneys and staff for the legal side of the war on poverty. Unique to the Western Center on Law and Poverty is its utilization of law professors and practitioners to solve the difficult legal problems of the poor. The combination will also include joint appointments of teachers of law to practice at the center. Law students from several schools will give research assistance. “They will get practical experience in the law, while the attitudes of professional responsibility they learn will benefit the entire profession,” Dr. Levine said. The U.S. Office of Economic Opportunity has approved $200,000 for the Western Center, enough to hire eight attorneys and a supporting staff for the first five months of the project. The yearly grant will exceed $400,000. The center's formation was announced at the first meeting of the board of directors, at the center. The Board will include representatives from USC and UCLA law schools, the legal profession, legal service agencies, and the underprivileged community. Information release policy to continue Thieves loot autos for over $10,000 during six-week period Bv JIM STRAIT More than $10,000 worth of property has been stolen from automobiles in the immediate campus area within the last six weeks. The University Division of the Los Angeles Police Department has just completed a survey showing that from Sept. 1 until Oct. 10, 71 crimes were reported in the immediate U SC area. A total of $10,141 worth of stereo-tape players, radios, clothing, golf clubs and that old favorite, hub caps, was stolen. This includes only burglary or theft from motor vehicles. The survey stopped on the 10th of this month, but the thieves didn't. On Tuesday alone, $1,182 worth of stereo-tape players was reported stolen. The department conducted last month’s survey because of the unusually high incidence of theft from autos in the immediate area, including the Row and main apartment areas. The survey shows that 31 of the 71 crimes took place during the day. between 8 a.m. and 4 p.m. In 40 of the crimes, the cars were parked on the street and in 20 of the eases they were in parking lots. The res* of the cars were in car ports, alleys and driveways. The main items of interest to the thieves seemed to be Muntz stereo-tape players, of which more were stolen than any other type of tape player. The thieves seemed to prefer breaking into Volkswagens and Chev-rolets. since each make was burglarized 19 times. Ford ran third with 13. No sportcars were reported as having been looted. “Students should always lock their cars, and if they must leave valuables in cars, they should be left out of sight, in either the trunk or the glove compartment,” officer Art Congnotti suggested. “If a student is thinking of buying a stereo-tape player, he should look into the possibility of having it mounted either in the glove compartment or under the seat, where it won’t be visible.” The last seven days have been successful for burglars in addition to the $1,182 worth of stereo-tape players stolen Tuesday. On Monday, Beverly A. Crooker, 2710 Severance St., had a $75 watch stolen. Last Saturday, however, a minor crime wave hit W. 30th Street. A burgler tried to break into four apartments within a small area. At 809 the thief got $51 worth of clothes from Larry Anderson. Next door, at 809'L>, the thief stole $70 worth of property from S. J. Schwarz. The two other apartments that were hit, at 811*4, and at another apartment at 809^ had nothing stolen be- cause the thief was unable to get in. A TV, typewriter, tape recorder and liquor, worth a total of $750, was also stolen on Saturday from Ruben P. Marco, 3571 McClintock St. Another stereo-tape player, valued at $105, was stolen from an apto belonging to Frank D. Veiga at 3019 University Ave. On Friday a $150 wristwatch was stolen from Karen Swenson at the Alpha Phi Sorority house. By HAL LANCASTER Editor The university, for the time being, will continue to release nonacademic information about faculty members and students to outside sources. A resolution to forbid this activity was voted down at the first University Senate meeting of the semester yesterday. Apparently, it has been university policy in the past to allow the release of any information to outside sources. This included information about outside activities, and comments on character to prospective employers and government agencies. The resolution, proposed by the Senate Committee on Faculty Interests and Responsibilities, met with strong opposition from the professional schools. and was referred back to the committee. “You say what you care to say about an individual, you don’t legislate against this,” Dr. Robert Dock-son, dean of the School of Business, said. “I submit you have gone too far,” Dr. Henry Reining, dean of the School of Public Administration, said. The possibility of a resoluton to forbid this activity was initiated last spring. Dr. Colin Lovell, professor of history, explained that an article in West magazine quoted a member of the State Un-American Activities Committee as saying that he had not received this kind of information from UCLA, Pomona, or Scripps Institute, but had received it from USC. “The function of a university is to give university work.” Dr. Lovell said, “not to divulge information relating to nonacademic areas.” Dean Reining cited the example of a student who is eligible for a city manager's job. “Under this resolution, the way I interpret it, I can’t tell the city officials what kind of a guy he is. “You’re basically aiming at the FBI, the military and the Un-American activities committee. I submit you have gone too far,” he said. The resolution, presented to the senate by Dr. Chester Hyman, professor of medicine, read: “This senate is of the opinion that the divulgence by the university of any nonacademic information concerning any individual member of the faculty or of the student body without the express and specific consent of such faculty member or student to any agency or authority external to the university is detrimental to the morale of the university, deleterious to its reputation, and contrary to the traditions and values of a free university in a free society. Nothing in the foregoing shall be construed to prevent transmission of information required for the health, welfare or safety of the individual.” Most of the professional school representatives spoke against the res- olution. In addition to Deans Reining and Dockson, Samuel T. Hurst, dean of the School of Architecture and Fine Arts, and Dr. Irving R. Melbo. dean of the School of Education, also spoke against the proposal. Dean Melbo said that the resolution would jeopardize the school's Placement Bureau, in that it could not divulge nonacademic information about job applicants. Dr. Hyman said, however, that the opening of a file with the Placement Bureau, constituted “express and specific consent.” In other reports to the senate, Thomas Nickell, vice-president of university planning, said the last fiscal year was the largest in USC's history, with donations reaching $18 million from private sources and $1.051.000 from annual giving. Lewis Stieg, university librarian, reported that $310,000 had been allotted for new books this year, an increase of $66,000 from last year. MOVES TO MUSIC CENTER Dr. Kendall named Arts Council head 'CRUSADE' RALLY SET BY JORDAN Rusty Jordan, yell king, will issue another call for spirit at the rally today at 5:15 between the Physical Education Building and Bovard Field. It will be the football team’s last practice before leaving for the soggy playing fields of Washington, and Jordan is hoping for the biggest turnout of USC supporters yet. “If Washington is off on a crusade to beat us,” Jordan said, “we’ll make this a second crusade. “From here on, every game is a big game; we’re playing for the national championship and the Rose-Bowl.” A second rally will be held Friday when the team boards the buses for the airport. The buses will leave at 11:15 a.m. “Washington has been hard to beat up there in the past,” Jordan said,” and nothing would inflate their egos like heating us while we’re No. 1. Active student support is part of winning the game and we want to make sure at least part of the contest is decided before the team hoards the plane.” Dr. Raymond Kendall, who recently resigned as dean of the School of Performing Arts, has been appointed president of the Performing Arts Council of the Los Angeles Music Center. The Daily Trojan reported last week that Dr. Kendall had resigned to accept an assignment with the Music Center as director of future planning. Dr. Kendall is on a two-year leave of absence from USC as a professor of music. He will continue on a part-time basis to direct the Project for the Training of Music Critics, which he started four years ago under a Rockefeller f oundation grant. He has resigned as dean because he does not want to leave the school without a dean for two years. As council president, Dr. Kendall will administer to all the resident groups of the Music Center, including the Southern California Hollywood Bowl Assn., the Los Angeles Civic Light Opera Assn., the Center Theatre Group, the Music Center Opera Assn., the Southern California Choral Music Assn., and the Young Musicians Foundation. He also will help administer the opportunity fund which provides underwriting for special educational and cultural projects within the Music Center complex. In accepting the new appointment, Dr. Kendall expressed the hope could be established at The Music Center. “There is a need for a Performing Arts Center to have a strong and vigorous educational dimension.’’ he said, “not only in the sense of a school or academy, but to build new audiences and to obtain a limited number of highly competent professional, technical and management personnel for the performing arts. "IvOe Angeles is ready for such an academy of limited size but of premium quality.” Tickets on sale tor Cal game Rooters tickets for the Cal game on Nov. 4 must be picked up by 4 p.m. Friday. Students with ID.'s can obtain them in the Ticket Office for $2.50; reserved seats are also on sale at $5 each. Tickets to this week’s Washington game in Seattle are all sold out. Date tickets for the Oct. 28 Oregon game at the Coliseum are on sale through next Tuesday for $5. Reserve seats are available for the Oregon State game at Corvallis on Nov. 11 for $5. There are no rooters tickets for that contest. Students have until Nov. 6 to exchange their activity book coupons for UCLA game tickets at the Ticket that an academy for performing arts Office. USC's endowment-based finances are insecure, but • • • By BOB INGRAM Private liberal-arts colleges are in great financial trouble, a recent Fortune Magazine article said. “By next spring, the combined deficits of the top 20 financially stable U.S. private colleges will be $3 million.” This dim financial outlook raises several questions. First, how do private colleges overcome their deficits? Second, how does USC deal with its financial problems? University officials are hopeful USC will be able to avoid serious financial trouble in the future. At USC, as at all private institutions, most financial assistance comes from endowment funds, garnered from foundations, alumni, businesses, friends of the university, and the federal government. "The more important factor is not the amount of endowment funds, but the amount of endowment per student,” Dr. Carl Franklin, vice-president of Financial Affairs, said in a recent interview. On total endowment, USC could boast that it was in close competition with the top 20 schoolB, but the term “financially stable” means that these schools have a far greater endowment per student than USC, Dr. Franklin explained. At this time, USC has approximately a $27 million endowment for average full-time enrollment of 13,500. The average endowment per student is $2,000. A small private college with 650 students and a similar endowment, would average an obvious difference per student. This disparity means a much smaller tuition could be charged at a school which has a large endowment rate per student. However, schools use endowments not only for tuition, but for construction and scholarships. There are also different types of endowment funds. which can be designated for specific purposes. “The two different kinds of endowments are called unrestricted and restricted,” Dr. Frankln said. “The restricted endowment is designated by a donor for a specific purpose, such as for scholarships. “Their use is determined by the president and trustees. "Endowments can even be in the form of trusts. “The three parties are the trustor, the trustee, and the beneficiary. The trustor, or donor, establishes the trust; the trustee manages the trust; and the beneficiary receives the benefits. “The donor may also indicate that this donation is to be a life income trust.” This means the income may be received by himself or other members of his family before the university has possession. A new concept of trusts and endowments was reported in the Oct. 2 issue of the National Observer: “Yale University is planning to set up its own investment-advisory company in hopes of getting a greater return on the investment of its $507,000,000 endowment funds. If the school’s governing board approves the idea . . . Yale will become the first major college or university to make such a move.’’ USC now employs a different approach in administering endowments. "We have an endowment portfolio under the direction of the Finance and Budget Committee of the ...British schools thrive on socialism The control of the British government over universities in that country now extends from their inception to the shape of their future development, a London educator said at the Faculty Center yesterday. Sir Sydney Caine, director of the London School of Economics and Political Science, said the government’s control can be so effectively exercised because 90 percent of British universities' finances come directly from the government. The primary areas of government control outlined by Sir Sydney included : • The shape of future development, controlled by granting money only after applications have been made for specific projects planned within the next five years. • The growth of student size, W’hich is also dependent on the size of government grants. • Faculty salaries, decided by a national agreement of the British teachers’ union and administrative heads, which sets maximum^ and specifies quotas for each teaching level. • Tuition fees, which art* easily controlled because the government grants scholarships of at least an equal amount to practically all students admitted to a British university. • The imposition of additional fees for overseas students in some schools, enacted despite “the violent protests” of the universities. • Maximum standards on buildings, such as the size of room allowed for a full professor. • The size of graduate programs, which are determined by the number of graduate studentships granted to each university. “The overwhelming feature of most British universities is their almost total dependance on government grants.” Sir Sydney emphasized. Although Oxford and Cambridge Universities — “whose origins are lost in the medieval mists”—receive a large part of their financing from private gifts, other universities, most of whom have been established from scratch at t h e government’s order, must submit specific designs for the awarding of specific grants. The programs are submitted to the University Grants Committee, which meets every five years to allocate the money and often during the interim period to make adjustments. “I suppose this is just all part of a developing effort to maintain a balance,” Sir Sydney concluded, “between social needs of our country and the maintenance of intellectual freedom.” Board of Trustees,” Dr. Franklin explained. “The Investment Committee of the Trust Department of the United California Bank advises the Finance Committee on USC's investments. “The difference between Yale and USC is Yale will only consider its owti portfolio of $507 million. USC has only a $27 million total endowment, so we cannot justify managing our own investments. “But our basic principle of investments is the same as Yale.” The staff advising USC on investments consists of several experts, but their fees are extremely low because they are interested in helping the university, Dr. Franklin said. Comparing USC’s financial situation to other private universities, Dr. Franklin admitted, “Our total endowment is very low for a major university.” The endowment funds at USC, however, have increased threefold during the last nine years since Dr. Topping became president, including an increase of $1.2 million during the past year. Continued financial progress, he feels, will perhaps enable USC to avoid possible financial deficits in the future. |
| Archival file | uaic_Volume1450/uschist-dt-1967-10-19~001.tif |
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