Editor’s note: This article was initially published in The Daily Gazette, Swarthmore’s online, daily newspaper founded in Fall 1996. As of Fall 2018, the DG has merged with The Phoenix. See the about page to read more about the DG.
As Financial Policy Representative, I will not only work to increase the school’s budget and invest the endowment in a responsible and effective way but I will also enact policies that will increase communication with the financial representative and increase the transparency of college spending and investing. I want to increase the amount of the endowment that is spent every year (up from 3%) allowing for a larger budget and more money to be spent in crucial areas. I want to continue to invest the endowment in a way that will be secure and allow it to grow. I believe it is important that the school use its large endowment in a socially responsible way. Such a large amount of money is a powerful tool and I will ensure that we invest it in a responsible manner. As a student council member, increasing communication with the student body will allow me to more effectively represent your interests. My primary goal is to increase the transparency of college spending. I want students to have the most information possible about how the school’s money is spent and what the administrators are doing to ensure a quality institution. Next year the 2020 Campaign will be under way and I will make sure the voice of the student body is represented. This campaign will decide the future of Swarthmore and the students’ voice must be heard.
Good luck creating transparency and encouraging responsible investing… you’ll need it. The Board of Directors is sadly not so keen on “ethical intelligence.”
What specifically do you think more money needs to be spent on? And what do you think about the notion that spending more of the endowment disenfrachises future Swat students by limiting the amount of funding they have to work from?
“I want to continue to invest the endowment in a way that will be secure and allow it to grow. I believe it is important that the school use its large endowment in a socially responsible way. Such a large amount of money is a powerful tool and I will ensure that we invest it in a responsible manner.”
First of all, how else would one deal with the endowment, and isn’t it in fact controlled by the Treasurer’s office rather than by the Financial Policy rep?
Second, while the idea of social responsibility is important (albeit redundant as you have phrased it), exactly what does this lofty aim actually amount to? What actions will you take and what ideals will you strive for, and in what order of importance? This seems rather vague and wishy-washy.