Wednesday, June 29, 1994- The Michigan Daily -3
Department to
restore misspent
endowment funds
If I had a hammer...
A construction worker uses a jackhammer to remove concrete as part of the yearly renovations at Michigan Stadium.
t hkes arkin tickets U ma too
* Regents say the
system caught
misuse of funds
By Lisa Dines
and Ronnie Glassberg
DAILY NEWS EDITORS
Following an internal audit that
showed misspending of communica-
tion department endowments, Presi-
dent James J. Duderstadt said the Uni-
versity has taken steps to restore the
misused funds.
"This whole episode is a whole-
some ... precautionary tale. The sys-
tem works," said Regent Philip Power
(D-Ann Arbor).
The University operates on a dual
system of certification and restitution
to ensure the proper spending of en-
dowments.
In certification, those with author-
ity to spend funds from endowment
accounts must certify that they under-
stand the purpose of the endowments
and that to the best of their knowledge
the expenditures are consistent with
the intent of the endowment.
Under restitution, departments are
required to restore funds to endow-
ments from other sources if the ac-
counts are used inappropriately.
"What we are doing is sending a
memorandum to all deans and depart-
ment heads. Each dean is asked to
review the procedures for endowment
expenditures," Duderstadt said.
Besides the steps in place to safe-
guard the endowments, the University
will require each academic unit to sub-
mit to the provost a written description
of the scholarly activity supported by
the endowment or fund.
"I think that approach is appropri-
ate," said Regent Laurence Deitch (D-
Bloomfield Hills).
"We might want to put in place a
resource where there can besomeinput
on whether the donor's intent is being
followed," Deich said.
Deitch said the findings of the re-
cent audit stemmed from the vague
guidelines in the communication de-
partment endowments. He said this
problem is not unique to that depart-
ment.
"No problems arise when someone
creates an endowment with very spe-
cific goals," he said. "Some of (the
endowments) have a lot of grayness in
them."
Regent Deane Baker (R-Ann Ar-
bor) said he does not think the misused
funds will cause a decrease in dona-
tions to the University.
"Most of our donors look at the
University asaplaceofintegrity,"Baker
said. "The fact that it was discovered
by our own processes should give our
donors considerable satisfaction."
ExecutiveVicePresident and Chief
Financial Officer Farris W. Womack
said his office has not been contacted
by any other donors concerned by the
audit.
Complaints by Wesley Maurer Jr.,
whose father helped establish one of
the endowments, prompted the audit.
"I don't know if anybody's lost
confidence in the endowments,"
Maurer said.
"I think the University is prob-
ably taking some steps to watch it.
It's a big place and they are cer-
tainly doing good things by trying
to tighten things up."
U Late-cost of paying
expired meter
tickets to increase
by $5 in September
by Michelle Lee Thompson
DAILY STAFF REPORTER
As if parking tickets in Ann Arbor
e not costly enough.
Although some students and other
arkers may feel this way, it seems that
neither thecity northeUniversity agree.
An employee from University park-
ng services has indicated that citations
eceived in University lots will rise in
e fall. Currently, a car parked ille-
ally in a faculty-staff paid or other-
se pass-required zone can receive a
citation. The University's expired
eter fee is only $3, a little more than
alf the city's fee for the same citation.
The University has been systemati-
ally reducing the number of metered
paces,including the transformationof
most of the spots in the North Campus
Commons lot from visitor metered
spacesintofaculty-staffpaidspots.The
University has recently increased its
faculty-staff permit fees.
Parking services officials have not
indicated how much the rates will rise,
butsomeparking officialsindicatethat
the hike has been in the works for a
while.
Noofficialaction has been taken yet
and the decision can only be made by
the Board of Regents, Department of
Public Safety Capt. Jim Smiley said. "I
think it will be discussed at the regents'
meeting in July. It would be under the
authority of the regents as the govern-
ing body of the University," he said.
City Council adopted in May an
across-the-board parking citation in-
crease, for every type of ticket except
one - the expired meter citation paid
within two weeks-the most common
one given out. This change will take
place in September.
Other citations, including the "late
cost"ofpaying the expired meter ticket
after 14 days, will all increase by $5,
the price of the expired meter ticket.
Some of the most commonly ac-
quired citations include parking too far
from a meter, in front of a fire hydrant,
and in a no parking or handicapped
zone. All of these citations carry a fee
that is higher than the expired meter
fee, and will range from $10 to $50.
Ann Arbor's curbside parking
meters,which number around600,cost
50 cents per hour, and most meters
have a two-hour limit. Some meters
limit parking to an hour or even a half
hour. Most University meters, which
also charge 50 cents per hour, have
two-hour limits.
Both the city and the University
have also reducedthe number of un-
paid tickets at which they will tow a car
from six tickets to four.
-Daily Editor in Chief James M.
Nash contributed to this report.
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