DataMine

FRIDAY, DEC. 12, 2008

UF Endowment's Takes Another Hard Hit

The University of Florida's endowment was down $103.6 million during the first three months of the 2009 fiscal year, and without a significant market rebound, school officials predict cuts to scholarships, research and academic programs paid for by the account.

The 8.3% drop in UF's $1.25 billion endowment, the largest endowment among Florida's public universities, is mirrored nationwide and couldn't come at a worse time for schools, many of which are dealing with considerable state budget cuts. UF students and programs received $42.7 million from the endowment last year.

[Source: Palm Beach Post]