Senate attends fiscal transparency seminar

first_imgAt the weekly student senate meeting, senators made various announcements and welcomed Duncan Hall’s newly-elected senator, junior Steven Frick.After the official meeting adjourned, Senate members stayed to attend an event hosted by the Office of Development entitled “Where Does the Money Go: An Insider’s Look into Finances at Notre Dame.” Ellen Roof, ND Loyal and Young Alumni program director, led an information session followed by a question and answer session. She began by saying that last year, it cost $1.17 billion to operate the University, with the largest portion of spending, 42 percent, being used on instruction. In addition, Roof reported that the University receives $320 million in tuition dollars each year, displaying a graph that illustrates the increase in Notre Dame’s tuition plotted against the increase in Notre Dame’s financial aid contributions since 2000. Over the past 18 years, the cost of a Notre Dame education has increased by 140 percent, but the amount that Notre Dame spends on financial aid has consequently increased by 430 percent. “We are really striving to increase the financial aid available for students, at a significantly higher rate than any tuition raises,” Roof said.Roof also discussed Notre Dame’s endowment spending and how the University uses this resource. Endowments, or the collection of financial assets made up of charitable gifts to the university, make up 37 percent of Notre Dame’s revenue. But the endowment is not a singular entity. Rather, Notre Dame’s endowment is actually a group of over 5,500 endowed funds that are grouped and invested together. As of the end of the 2018 Fiscal Year, the endowment was worth $13.1 billion. Roof said about 60 percent of the endowed funds go towards financial aid for students. Overall, Notre Dame spends about 4.5-5 percent of endowed funds every year, or about $393 million from the 2018 FYE. Roof said having a robust endowment fund is extremely beneficial to the university in the long run.“We want Notre Dame to be around forever, so we really have to have a careful fiscal responsibility in terms of smoothing out that spend curve over time,” Roof said. Vice president of University relations Lou Nanni led a question and answer portion of the presentation, discussing questions from students about Notre Dame’s spending and finances. In response to a question about whether Notre Dame takes notice of average student loan debt among members of the campus community, Nanni explained a policy orchestrated just a few years ago that no undergraduate student will graduate with more than 10 percent of debt from a four-year education at Notre Dame. “If you figure that a four-year education at Notre Dame is roughly $250,000, $280,000 totaled over years, that means no one should be graduating with a debt of more than $25,000,” Nanni said. Nanni said 46 percent of students at Notre Dame receive financial aid from the University, and the average package for a student is around $31,000. However, in response to a question from senior and Pasquerilla East senator Catie Gabanic, Nanni clarified that the debt limit policy does not apply to private loans, but only loans taken out from the federal government.Another student inquired about the mentality about pricing on-campus housing, when certain newer dorms are significantly nicer than older dorms, but pricing for living on campus remains a flat fee. Nanni responded by discussing the University’s plans for remodeling its residence halls and the funding for new dorms. “We’re making some triples doubles. some doubles are becoming, in these old dorms, singles and we are increasing the social and study space in these dorms,” Nanni said. “The problem is, as we do this, we are losing beds. That’s required us to build new dorms, to replace the housing stock we are losing in the old dorms, and now more students will be living on campus.”Tags: Endowment, financial aid, student senate, University financeslast_img read more

These are the ultimate homes for boat lovers

first_img2048 The Circle, Sanctuary CoveMore from newsNew apartments released at idyllic retirement community Samford Grove Presented by Parks and wildlife the new lust-haves post coronavirus18 hours agoThe home includes stone and timber finishes and has a study area. The main bedroom has an ensuite and a dressing room.There is a full home theatre and a fireplace, bar and more than 25 metres of water frontage. It is listed through Matt Gates of Ray White Sanctuary Cove with an asking price of $3.98 million.You can moor your luxury vessel right at the back door of a six-bedroom home at 12 Westholme Circuit, Pelican Waters. The home is listed for $1.439 million and the kitchen recently underwent a $50,000 renovation. 12 Westholme Circuit, Pelican Waters. Picture: realestate.com.auThe main bedroom is at the back of the home with a glass door which provides access to the back yard and views over the canal. 24 Paradise Pde, Jacobs Well. Picture: realestate.com.auAt Jacobs Well a four-bedroom home at 24 Paradise Pde, is listed for offers of more than $930,000.The home, at Calypso Bay, has its own pontoon which is plumbed with water and power. The house has a stone wall at the entrance, high ceilings and a central kitchen with an island bench. 24 Paradise Pde, Jacobs Well. Picture: realestate.com.auThe home has a media room with large built in floating cabinet and shelving and there are new carpets in all the bedrooms.There is a saltwater pool with heating and the pontoon has water, electricity and power installed plus lighting plus a run up for a small boat.The home is listed through Janice Nankivell and Petals Waite of Freedom Property – Australia. 12 Westholme Circuit, Pelican Waters. Picture: realestate.com.auIt is listed through Trish Pearman of Belize Property – Jacobs Well. 2048 The Circle, Sanctuary CoveRay White Marine is anticipating strong interest in the Australian premiere of the award-winning 2018 Ferretti 450 at the Sanctuary Cove Boat Show.Once you’ve secured the boat, it’s time to find the perfect house.A four-bedroom home at 2048 The Circle at Sanctuary Cove is a great address for a boating enthusiast. Plenty of room for a boat at2048 The Circle, Sanctuary CoveWHILE many of us may harbour dreams of pulling up anchor and sailing away, the practicalities of life can quickly get in the way.So what’s the next best thing to spending your life sailing the high seas? Doing it on the weekends.And to make it as easy as possible for boat lovers to stroll down the back yard and hop on board, we’ve found three of the top boat lover properties on the market at the moment.With the Sanctuary Cove International Boat Show now underway until May 27, there are plenty of boats on offer for sale at the moment to go with that new pad.last_img read more

‘Drugged out’ students likely if cannabis legalised – principal

first_imgRotorua Daily Post 26 October 2017Family First Comment: “…The prospect of teenagers knowing that cannabis may be lawful had sent “a collective shiver up the backbone of secondary school principals”. “Many of my colleagues are already fighting a rear-guard action to keep drugs out of school, particularly in communities where it is endemic. The simple fact is, like alcohol, whatever safeguards the government attempts to put in place to prevent teenagers from using it, legalising cannabis use will be equated with legitimising it. Mr Walsh said experienced principals would know the outcomes in terms of “lost educational opportunities, truancy, violence, depression and driver risks”.www.saynopetodope.nzFears legalising cannabis will lead to “drugged out students” in classrooms has a prominent Rotorua principal calling for a rethink on the impending referendum.A public referendum on legalising cannabis for personal use will be held by the 2020 election as part of the agreement between the Green and Labour parties.The Green Party says criminalising cannabis hasn’t worked and a regulated market would enable more control over the drug.But John Paul College principal Patrick Walsh said the prospect of teenagers knowing that cannabis may be lawful had sent “a collective shiver up the backbone of secondary school principals”.“Many of my colleagues are already fighting a rear-guard action to keep drugs out of school, particularly in communities where it is endemic.“The simple fact is, like alcohol, whatever safeguards the government attempts to put in place to prevent teenagers from using it, legalising cannabis use will be equated with legitimising it.“On this basis, it is highly probable more of it will find its way into schools being consumed or sold on back fields, toilet blocks and in student cars.”Mr Walsh said experienced principals would know the outcomes in terms of “lost educational opportunities, truancy, violence, depression and driver risks”.“Deans, counsellors and deputy principals can anticipate an increased workload and good students will miss out on critical teaching time while staff attend to drugged-out students.”I know from my own experience working with teenagers that there is a strong link between cannabis, criminal offending, mental illness and poor academic achievement.“We were promised many years ago that when the drinking age was reduced to 18 that regulation and education programmes for teenagers would prevent abuse – It is common knowledge that in 2017 teenage drinking remains a serious problem.READ MORE: http://www.nzherald.co.nz/rotorua-daily-post/news/article.cfm?c_id=1503438&objectid=11936507last_img read more

MainSource donates over $300k to United Fund

first_imgDECATUR COUNTY, Ind. — MainSource Bank recently announced the results of the Bank’s Decatur County United Fund Campaign for 2017.During a two-week campaign drive, employees pledged $218,262.75 to the United Fund and the company matched an additional 50% or $109,131.38, which brings the bank’s total United Fund donation to $327,394.13.These donations were distributed to numerous non-profit organizations.MainSource Bank President and CEO, Archie Brown Jr., and his wife Sharen served as the United Fund Campaign Chairs.last_img