Public University Funding Assignment Example | Topics and Well Written Essays - 750 words

Public University Funding - Assignment Example There is problem in acquiring funds from private entities/foundations such as 'auxiliaries' that are affiliated to these public universities. The problem does not arise from acquiring funds. The problem arises when such 'auxiliaries' affiliated to the universities are not legally bound to disclose where they get funds from and are also exempt from any disclosure of their accounts. Such anomaly can lead to grave consequences for the universities. Instances have been quoted where certain 'auxiliaries' have not been as forthcoming as they were expected to be. A foundation affiliated with Sonoma State University lent money to a former member of its board. They then got stuck with a bill when he could not pay the money back. And a former chancellor of San Francisco City College has been indicted on charges that include allegedly diverting money from a foundation account to pay for a club membership, liquor and other expenses (Instructions). These malpractices cannot be allowed to go unchecked just because Californian Public Records Act does not cover foundations. There is a gap in the law if such malpractices are allowed to occur with impunity. The current financial scenario is fraught with ignoble implications and any gap in the legal process could even mean playing into the hands of terrorists. Californian Senator Leland Yee's legislative bill SB-218 deserves "swift and overwhelming approval" by the legislature. The bill will ensure transparency and accountability. In order that honest and bona fide "auxiliaries' are not discouraged from fund raising on the university's behalf, SB-218 has a provision for such donors to remain anonymous (Senate Judiciary Committee). There are legitimate and principled ways of raising funds. Sometimes it is easier to raise funds than disburse them. Universities must be as careful in their disbursements as they are when raising funds. Conclusion Accountability and transparency in financial affairs promote goodwill and developmental activities. People in general and donors in particular want to see funds utilized judiciously and donate in greater measure when funds are invested honestly and purposefully. Besides, universities are noble institutions and are expected to uphold exemplary standards of funds utility. Source: Instructions, Order No. 316961, Academia-Research.com Senate Judiciary C