PEER strongly supports private donors and foundation board members who raise money for state university academic programs and student activities. However, the Board of Trustees of Institutions of Higher Learning (IHL) does not fulfill legislative and constitutional intent to assure that funds available to the Commissioner and donated to universities are spent efficiently and according to donor intent. The board also fails to assure efficient use of money donated to and earned by university athletic departments. Although university foundations control 77% of endowments held for the benefit of Mississippi universities ($80 million) and received $1.77 million in state funds in FY 1992, university officials oppose state oversight of university/foundation fiscal practices.
University officials receive additional compensation from university foundations and the Commissioner receives additional compensation from the Commissioner’s Fund, both without legal authorization from the IHL board of Trustees. University administrators used public funds (athletic department bowl receipts) to finance bowl game entertainment and gratuitous travel for officials other than coaches and students. They also used unrestricted foundation donations for gratuitous travel, entertainment, and gifts to IHL board members and the Commissioner.
Other findings:
For a paper copy of this report, contact PEER by telephone at 601-359-1226 or by e-mail at reports@peer.ms.gov.