Newspaper Reports On President’s Discretionary Fund
The Bangor Daily News has a Tuesday story about two UMaine funds, the President’s Gift Account and the UMaine Priorities Account, to which the UMaine president has access in order to fund unforeseen situations that arise or activities such as private fundraising initiatives. President Robert Kennedy recently announced he would use the gift account to pay the salary of former UMaine basketball coach Cindy Blodgett for the final year of her contract. Money in the gift account comes from endowment income and the University of Maine Foundation, while the priorities account is funded by donors but are not designated for a specific purpose.
Contact: Joe Carr, 207-581-3571