Unfortunately, I share your cynicism, or realistic expectation, having seen it in action: restricted funds emptied out for other purposes, annuities used for other purposes once the annuitor died and the funds became available. A piece of paper with a promise typed on it is worth how much when the institution decides to dispose of the money otherwise?
A state institution's budget is also subject to decisions by state legislature.
Good luck to Save ASU Swimming.
VB
Unfortunately, I share your cynicism, or realistic expectation, having seen it in action: restricted funds emptied out for other purposes, annuities used for other purposes once the annuitor died and the funds became available. A piece of paper with a promise typed on it is worth how much when the institution decides to dispose of the money otherwise?
A state institution's budget is also subject to decisions by state legislature.
Good luck to Save ASU Swimming.
VB
