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University Daily Kansan, September 16, 1982
Officials eye long-run for endowment riches
By MATTHEW SCHOFIELD Staff Reporter
Interest in achieving long-term gains instead of short-term gains has kept the Kansas University Endowment Association from jumping into the surging stock market and jumping out of the falling bond market, the association's assistant treasurer said recently.
Beverly Rosenfeld, who deals directly with the purchase of bonds as assistant treasurer, said the association had funds in both types of markets, but that it would not invest its funds completely into one of the markets because of the uncertainty of the market system.
"Both markets have gone through extreme fluctuations," she said. "We have done very well overall because we are always there to take advantage of the market that is going up, and we're not totally committed in a market when it drops."
RICHARD PORTO, association treasurer, said the association was similar to a trust company in that many University branches and departments had funds invested with it, basically on an on-call basis.
"We don't look for a two or three point gain in a couple of days. We use bonds in the government and businesses their liquidity and safety," he said.
The association invests the money to bring in a higher rate of interest than banks pay, but also tries to buy money available at all times, he said.
"We're estimating that we will be
dispersing $2 million a month this year to the University, students and companies that work for the University," he said.
Investing in the bond market was more practical for some of their assets because the association needed more funds to cover an investor needed it, be said.
"We aren't able to predict when the money from an account is going to be needed," he said.
ROSENFELD SAID the association kept a large percentage of its liquid funds in an inter-university money market fund.
The fund, which has existed since last November, is where all new money automatically goes. It is the only fund that a bill has a birth rate of return, she said.
"Last month we had a 13.96 return in the money market fund, 95 percent of it in government bonds," she said.
The association invests about three-quarters of its $24 million in assets in the bond market, she said, and had been successful in this area.
The association takes the separate accounts it keeps and pools them for investment, so it can withdraw funds when needed. We keep all of its accounts open, she said.
Porta said the association also invested in the stock markets with money it did not need to keep liquid, pooling funds for those investments.
The association keeps $33 million in the market but does not participate in active trading, he said. Most of its stock was highly rated and the association had a number of sources it used in stock selection.
On the record
A CUSTODIAN at Wescoe Hall was taken by ambulance to Lawrence Memorial Hospital yesterday after two students found her crying and moaning in a janitor's office, police said. The woman had been complaining about the girls and was trying to call relatives when she found her student, police said.
Hospital officials said the woman was treated and released from the emergence.
THEIEVS STOLE four wheel covers and rims worth $480 from a Corvette
belonging to a KU student living in the 1600 block of Oxford Road between 5:30 p.m. Monday and 3 p.m. Tuesday, police said yesterday.
A 19-YEAR-OLD man was arrested Tuesday for vandalizing a bicycle, police said. The man damaged the bicycle in front of the police block of Connecticut Street, they said.
THIEVES STOLE two rings worth $7,500 between Aug. 27 and Saturday Sept. 16, said the police. Street, police said. The theft was not reported until yesterday, they said.
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Tight budget curtails continuing ed role
By MATT SCHOFIELD Staff Reporter
A slumping economy has caused an enrollment decrease and cut in staff for the KU department of continuing education, an organizer of differences said recently.
Staff Reporter
John Pattinson, director of conferences and special programs, said the 5 to 10 percent decrease in enrollment was caused by people below the year's expectations.
Robert Senecal, dean of continuing education, said last year's decrease in enrollment was part of a regional trend that caused his department to reduce its work force by 10 during the past two years.
"We've been able to absorb all of our reduction through people leaving or retiring and not being replaced," he said.
"I THINK there will be some constant reduction," Senecal said. "The decline in enrollment is something that is growing in this central location. The economy has taken its toll for the next two years or so."
prices of its conferences range from $15 to $125.
Pattinson said that they had not figured out how much money can be stolen.
"A part of what continued education is about is to be experimental — do things that aren'proven," he said. "As a result of the economy, we're not so prone to go out on a limb as we were before."
"We have some traditional markets that we thought of as safe that are drying up," she said. "Because of this, we don't want to come and come up with new client groups."
Marylin Long, extension assistant in conferences and special programs, said she thought the economy had hurt the business but was not sure it had made it less creative.
Senecal agreed with Long and added that declining enrollment was more serious for continuing education than other departments because continuing education was about 80 percent self-sufficient since it charges for programs.
"we have to run ourselves like a bear," she added, "have to be terrible more competitive."
Quentin Gessner, dean of the University of Nebraska's continuing education program, said the field of people
"WE'VE NOTICED a 10 to 15 percent drop in our conferences at the Nebraska Center," he said. "In order to keep going to have be much more aggressive."
offering conferences was becoming very competitive, and many universities, including his own, had suffered from decreased enrollment.
Nebraska sponsored about 240 conferences last year, 30 fewer than it had in previous years, and had canceled a few. Nebraska did not financially feasible, Gessner said.
Susie Engle, administrative assistant at the Oklahoma Center for Continuing Education, University of Oklahoma, said that program had not suffered a significant enrollment drop because of the economy.
"There are a number of annual activities that we hold which are quite large, and are booked two or three years in advance," she said.
One reason for OU not having decreased enrollment is that they offer some conferences which do not necessitate a transfer. The other, neither KU nor NU does, she said.
Pattinson said KU did not have to cancel any conferences because the drop in attendance affected each individual conference equally.
The division did expect the losses to
"ONE REASON we're not down more is that people want to keep up-to-date so that they can stay employable," he said.
be greater, he said, but continuing education has an adult, working-world market, and many of these people need the classes.
Long said some of the programs offered, such as one in pharmacy, were required by the state, or were too complex to pass, unless, such as the pre-bar exam classes.
An example of a program that is in trouble is Women in History.
But the number of programs such as these are not sufficient to protect continued education from the effects of a poor economy, she said.
Long said the problem with supporting the class, which was intended for college and high school teachers, came partly from a bad economy and partly from the recent 4 percent budget cut requested by Gov. John Carlin.
THE DIVISION asked the office of academic affairs to subsidize the program, but because of cutbacks the percent of what was requested, she said.
Dykes' firm gives used computer to KU
Low enrollment last year meant continuing education could not pick up
By BRETT WALLACE
Staff Reporter
The Security Benefit Group of Companies, Topeka, has donated a used IBM 3031 computer to the University of Kansas, Archie R. Dykes, president and chief executive of the company, said recently.
"We are happy to be able to assist the University in this way," Dykes, former KU chancellor, said. "As a major user of computers and computer personnel, the Security Group is interested in the quality of computer education and training in area colleges and universities."
Chancellor Gene A. Budig said, "We greatly appreciate the generosity of Security Benefit in making this computer available."
Richard Mann, director of the office of information systems, said the computer would allow the University to expand its data-processing capacity to meet growing academic and administrative needs.
EXPANSION HAS become difficult recently because of University budget reductions, Mann said. The University is now sending the new computer for memory, he said.
David Nordlund, assistant director of technical services for the Academic Computer Center, said the computer would not be installed immediately because money must be found for installation, maintenance and new equipment that will be needed to make the computer operational.
The University will have to purchase software, disc drives, communication
gear, tape drives and printers before the computer can be used, Nordium
Nordlund said Security Benefit donated the computer because it had no further use for it.
The University also has been offered a new computer from Honeywell, Inc., but has not been able to accept it. The university's money was not available, he said.
Mann said it would cost roughly $150,000 to install and maintain each of the new computers.
THE UNIVERSITY was able to accept the gift from Security Benefit because it was offered with no strings attached, Nordlund said. The Honeywell team also provided a condition that research for Honeywell would be performed on it, he said.
Honeywell would expect the computer to be ready for research as soon as it was installed, he said. Some people at KU are also waiting to do research in this space, he added, would be demanding its installation immediately if it were accepted
Security Benefit understands that the computer it donated would not be made available to the public.
Be a part of concert production SUA Special Events needs people for the following crews:
MANN SAID money for installation and operation of the new computer would have to come from restoration of the funds lost in this year's 4 percent budget reduction, new money in next year's budget, a pooling of academic and administrative funds or a private gift.
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It will take at least 18 months to get the money to install either computer, he said.
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Pick up filing application in BOCO Office; 10:30 a.m.-4:30 p.m.
9/14/82 - 9/22/82
FRIDAY AND SATURDAY, SEPT. 24-25 MIDLAND CENTER FOR THE PERFORMING ARTS
Tickets at all Macy's Stores and the Midland Box Office Call 421-7500 and Charge MasterCard or VISA. (Mon.-Sat., 10-5)
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