Endowment program to distribute more than $20 million

Tuesday, November 7th 2000, 12:00 am
By: News On 6

OKLAHOMA CITY (AP) -- Oklahoma colleges and universities will be sharing in about $20.5 million for endowed chairs, professorships, lectureships and other related activities, the state Regents for Higher Education said Monday.

Of the $20.5 million in Endowment Trust Fund monies, $9.8 million is from earnings from the 2000 fiscal year and the remainder is from carryover funds from earlier years.

The regents' endowment program matches state funds one-for-one to private donations the schools raise.

"In addition to strengthening faculty ranks and broadening student learning opportunities, the Endowed Chairs Program is dedicated to enhancing the overall cultural, business, scientific and economic development of our state," Chancellor Hans Brisch said.

The regents want a one-time supplemental appropriation of $28 million from the Legislature to fund a backlog of endowed chairs.

"Private donations continue to surpass state funds, indicating that Oklahoma citizens are supportive of higher education and enthusiastic about helping our state's colleges and universities to achieve a high level of academic excellence," said Regents Chairman Leonard J. Eaton Jr.