Disclaimer:This information has not been verified independently.
Dear Editor:
Every year since President Shepard took over there was an item in the audit called the “Presidential Discretionary Fund.” People close to the Foundation have told me that this fund is mainly used for presidential entertainment. However, it’s impossible to tell for sure because the Foundation will not give out any information on how they spend their money. This fund was about $50,000 a year until the 2016-17 year. In the audit 2016-17 year it appears that the discretionary fund was moved into the “Marketing and Development” entry which was $94,812 this audit. This entry was less than $2,000 in all the previous audits. So it appears that what used to be called the Discretionary Fund spent at least $92,000.
Since 2015 the Executive Director of the Foundation reports to the President of the University instead of the Board of Directors of the Foundation.
Below is a history of the decline of scholarship money from the Foundation.
2010-11
Scholarships…$222,140
Per Cent of Expenses for scholarships…57%
Presidential Discretionary Fund…..Does not exist
2011-12
Scholarships…$204,278
Per Cent of Expenses for scholarships…49%
Presidential Discretionary Fund…..$29,466
2012-13
Scholarships…$112,417
Per Cent of Expenses for scholarships…27%
Presidential Discretionary Fund…..$50,137
2013-14
Scholarships…$98,937
Per Cent of Expenses for scholarships…26%
Presidential Discretionary Fund…..$50,175
2014-15
Scholarships…$135,913
Per Cent of Expenses for scholarships…35%
Presidential Discretionary Fund…..$52,542
2015-16
Scholarships..........$120,332
Percentage of expenses for scholarships........32%
President's Discretionary Fund...........$52,725
2016-17
Scholarships…..$114,678
Percentage of Expenses for scholarships…..22%
New named Presidential Discretionary Fund……Approx $62,000
2017-18
Scholarships….$99,544
Percent of Expenses for Scholarships….23%
New named Presidential Discretionary Fund….Approx $92,000
All of this information is available on the State Auditor’s web site.
Alfred Milligan
Silver City NM