Stanford Management Company (SMC) announced that its merged pool, the University’s principal investment pool, secured a 14.4 percent investment gain in the year that ended June 30, 2010.
With concerns abounding about the fiscal viability of the University’s significant financial aid commitments, Stanford announced new changes in its 2010-11 budget designed to ensure that the program can continue to meet the “demonstrated financial needs” of all admitted undergraduates.
The Stanford Board of Trustees moved to uphold the University’s commitment to socially conscious investment at its meeting on June 9-10. The proposal in question, which was unanimously approved by the Advisory Panel on Investment Responsibility & Licensing (APIR-L) in April, encourages shareholder companies to avoid using conflict minerals and conflict mineral derivatives.
The provost presented Stanford’s annual budget report for 2010-2011 on Thursday before the Faculty Senate, saying the financial pressures on the University resulting from economic instability in 2008 were showing signs of lifting.
Universities’ use of tax-exempt bonds to fund capital projects has come under scrutiny from the federal government, introducing the possibility of increased regulation, but Stanford’s existing practices appear set to continue as normal and will face no additional oversight at the state level for now.