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Economy Affects Knox College
The president of Knox College says the institution is still in the mood to celebrate this weekend given its commencement time, even though other institutions might not be as willing to these days.

Roger Taylor says the college's endowment fund, like a lot of others, has taken a hit thanks to the down economy.

But Taylor tells W-G-I-L the good news is, it's not having a huge impact on the college's finances.

"The Knox endowment provides right at five to six percent of the support of the budget each year. So even thought the Knox endowment's declined about 25 percent since things started to go south, the amount of support to the budget will be about the same."

Taylor says in this case, quote, "It's good not to be the richest college on the block," unquote.

He does say the college will not be creating any new teaching or other staff positions at least in the short term, and he says spending is being watched like a hawk, just to make sure the college continues to be financially solvent into the future.

This weekend is commencement weekend at Knox -- U-S Attorney Patrick Fitzgerald will give the commencement address at 10 o'clock Saturday morning. You can get a list of other commencement activities online at WGIL-dot-com.
06 05 09 by Newsroom
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