Regents tighten control on state's foundations - WALB.com, Albany News, Weather, Sports

Regents tighten control on state's foundations

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January 15, 2004

(Atlanta-AP) -- The Board of Regents may move to keep a tighter rein on such fund-raising groups as the University of Georgia Foundation.

Chancellor Tom Meredith said yesterday the board, which oversees Georgia's public colleges and universities, is taking a first step of sending a questionnaire to get a clearer picture of what the organizations are doing.

The presidents of all but one of the state's 34 public schools as well as other college officials, trustees of foundations from many of those schools and legislators participated in a discussion on foundations yesterday led by Indiana University Foundation President and CEO Curt Simic.

Simic said Indiana college officials, not foundation trustees, decide the best uses for the foundation's money -- including how much foundation money goes to supplement the president's pay.

posted at 10:30AM by dave.miller@walb.com