The Collegian reported on Wednesday about how the University is using the revenue from the controversial new facilities fee....it isn't.
There a couple of things to think about here. First, if you are a graduating senior you have given Old Main $100 toward future building projects which you will not be here to use. I think Old Main should refund the fee to anyone who graduates this year. Yeah, like that's going to happen. Second, how is the money collected this year being handled? Has it been invested with the interest being retained within the facilities fee fund? Is Old Main using the money for other purposes, like plugging holes in the budget, with the intent of repaying the facilities fee fund in the future? If that's the case will it repay the fund with interest?
Oh not to worry, having no idea of what to build with the fee, the Board of Trustees has already decided to doubling the fee next year.
Technorati Tags: Penn State, Spanier, Facilities Fee
It's not even being used for maintenance of existing facilities.Vice President of Student Affairs Damon Sims, who is also a ... member[of the facilities Fee Advisory Board], wrote in an e-mail that no revenues from the University Park Facilities Fee "have been expended this year."
[...]
According to Sims' e-mail, the committee met twice this year to hear "various presentations about possible projects that could benefit from the fee."
There a couple of things to think about here. First, if you are a graduating senior you have given Old Main $100 toward future building projects which you will not be here to use. I think Old Main should refund the fee to anyone who graduates this year. Yeah, like that's going to happen. Second, how is the money collected this year being handled? Has it been invested with the interest being retained within the facilities fee fund? Is Old Main using the money for other purposes, like plugging holes in the budget, with the intent of repaying the facilities fee fund in the future? If that's the case will it repay the fund with interest?
Oh not to worry, having no idea of what to build with the fee, the Board of Trustees has already decided to doubling the fee next year.
Technorati Tags: Penn State, Spanier, Facilities Fee
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