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Melding Public and Private Support for
Educational Excellence |
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When most people think of funding public universities they imagine that it works much the same way as for a public elementary or high school. Specifically, many believe that public taxes provide all, or nearly all, of the money to operate a university. While the tax dollars that go to support a university are very important, they are only a part of the necessary funds. For example, here at CCSU the state provides about 37 percent of the money to operate the institution. Other sources of funds include tuition and fees paid by students and/or their families, grants and contracts won competitively, and federal financial aid to students. Such funds are critical to the operation of Central. Without student fees 48 percent of our operating revenue would be gone. As taxpayers, we do not pay full cost for students’ educations, but we do partially subsidize them. Without grants and contracts we would not have a program like “HISTORY is CENTRAL” to help area teachers or the Small Business Development Center to grow the economy of Connecticut. Without federal, need-based financial aid |
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many of our lower income students simply could not afford an education. Today, I want to emphasize one more critically important revenue source – gifts to the university. We have a small but growing endowment of $23.5 million. It is built through gifts large and small. The interest from investment of the endowment provides funds for more things than you can imagine. It provides scholarships for high ability students, research support for faculty, athletic scholarships, awards and recognitions for students and faculty, and new facilities. Everything that makes a Central education one of the finest in the region is in some way made possible by the generosity of our alumni and friends. Our measure of excellence as a university comes from their gifts. It is our goal to greatly enhance the levels of giving from our alumni and friends. We are expanding our efforts to connect with our constituents and to tell the great story of our University. The vast majority (88 percent) of our living alums resides in Connecticut, and they have built the economy of our state. Many of them have been successful because CCSU gave them a chance, and now we want to invite them to make that same opportunity available to others in the future. So please remember that at a state-supported university our need for private support is great. Combining our public support with increased private support will keep this University both excellent and affordable. |
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