For Immediate Release 05 October 2000

State Universities Report Fundraising to Board of Regents

RAPID CITY—The six South Dakota public universities have increased non-state revenues substantially in the past year. The Board of Regents received this report at its regular business meeting on the campus of South Dakota School of Mines and Technology today. The Regents also approved targets for the raising of non-public resources for the next fiscal year.

"These non-state revenues often make the difference in an educational experience for South Dakota students," said Regents President Harvey C. Jewett, IV, Aberdeen. "These external funds are used for scholarships and capital improvements. They also include grants and contracts to faculty, who in turn provide research opportunities to students. The chance to do research enhances a student’s education and often creates opportunities for graduate school or employment."

The external funds also include gifts to the university foundation endowments. These funds can be used for equipment or other special purchases that a university could not afford otherwise.

The Regents received performance data for fiscal year 2000, which ended on June 30. During that time, the universities increased scholarship money by 17.2%, from $8 million to $9.5 million. Scholarship funds provide direct aid to students to assist them in paying for college costs. The universities increased their grants and contracts from $20.9 million to $24.6 million. Grants and contracts provide resources for faculty and students to conduct research and carry out public service. The universities also increased the fundraising for their endowments by 49.18%. The universities raised $5.3 million in capital funds, up from $2.1 million in FY00. "The Regents appreciate every dollar the universities raise privately," said Jewett.

In December 1997 the Regents adopted a new framework for the distribution of revenues to the state universities. The framework assures each university a base budget. It also requires that each university meet certain performance targets established by the Regents. One of the areas in which the universities have targets is in fundraising through gifts, grants and contracts, and capital fund drives.

Each year the Regents set targets for the universities to meet in the upcoming fiscal years. The new targets for FY01 and the baseline established in FY98 are provided below.

In addition, the total fundraising for capital improvements was $7,517,170 for the fiscal years 1999 and 2000. The FY01 target in capital funds has been set by the Regents at $4,490,006.

"Clearly the universities are actively seeking revenues to support their programs and projects from private and federal sources," said Regents Executive Director Robert T. Tad Perry. "University efforts to raise non-public dollars have been most successful. This is making for a stronger system of public higher education."

For more information contact: Dr. Robert T. Tad Perry, Executive Director, and Kathy Johnson, Director of Administrative Services, South Dakota Board of Regents, (605) 773-3455.