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| The Senate Higher Education Committee will hold a public hearing to |
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| address Interim Charge Seven: |
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| Review endowed funds at institutions of higher education to ensure |
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| compliance with all state laws and, in particular, the Uniform Prudent |
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| Management of Institutional Funds Act. Study and make recommendations for |
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| requiring all institutions of higher education to report annually to |
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| donors on the use of gifts and endowed funds. Review state laws to |
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| determine if they provide adequate oversight of these funds. Study the |
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| manner in which scholarship and other funds are given and bequeathed to |
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| institutions of higher education and make recommendations for ensuring |
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| that donors' wishes are honored while institutions are allowed appropriate |
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| flexibility with the use of the funds. |
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| *Public testimony will be limited to three minutes. |
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