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Daily Toreador The

TUESDAY, APRIL 5, 2011 VOLUME 85 ■ ISSUE 122

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Officials report endowment growth 2010 positive returns are first since recession began in 2008 By CAITLAN OSBORN STAFF WRITER

Texas Tech administrators reported a positive endowment return for fiscal year 2010, the first since 2008. The endowment, which currently sits at almost $800 million — an all-time high for the university — was up 12.3 percent in returns last year. In 2009, the endowment returns

were down 16.4 percent from 2008. Gary Ratliff, associate vice chancellor and chief investment officer, said that in 2009, 11.5 percent of what was lost was recovered, leaving the endowment at $708 million. In 2010, the endowment was up another 11.5 percent, canceling out the losses of the previous years. That, along with outstanding fundraising, he said, took the account to nearly $800 million by the end of 2010.

State legislature asks for $16M back from Tech Clark: Timing causes few reduction options By CAITLAN OSBORN STAFF WRITER

The Texas legislature has asked Texas Tech to return funds given to the university because of the state’s lack REYNOLDS: Cuts of revenue. are a bad sign for K y l e state of Texas. Clark, vice Op-Ed, Page 4 president for administration and finance and chief financial officer, said Tech’s operating budget for the 2011 fiscal year is $660 million. Of that, he said, 32 percent, or roughly $210 million, is appropriated from the state. Clark said the state has asked for 7.5 percent back, which is more than $16 million of that $210 million. Clark said because the state of Texas

“Around 23 percent from those two calendar years roughly recovered what we lost in 2008 and then some,” Ratliff said. “All things considered, if you look at that three-year period, with almost $800 million in assets, we came out of that in relatively good shape compared to some of our peers.” BRUNJES Jim Brunjes, vice chancellor and chief financial officer, said the 12.3 percent increase equals roughly $85 million. He said he hopes the rate will gradually improve in the next few years to keep up with the educational needs of the university.

“We’ve really had a dramatic change,” Brunjes said. “One of the important things to keep in mind is that the endowment is invested to be lasting. The endowment is invested so that over a long period of time we make enough returns that we help support the educational mission of Texas Tech University.” Brunjes also said Tech is required to give 4.5 percent of its market value back to the endowment, in accordance with the standards established by the Board of Regents. However, if the market value is negative, more money must be used to cover the loss. The 4.5 percent is spent on scholarships, buildings, faculty chairs and other university necessities, he said.

Just play

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Raiders spend day with Lubbock youth

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notified the Obviously a $16 university in million reduction the middle of affects many its fiscal year, r e d u c t i o n areas of campus. options were However, we e x t r e m e l y first try to look at limited. things that are “Obvinot a core part ously a $16 of the university million reduction afand try to save fects many any way we can.” areas of camKyle Clark pus,” he said. VP for Administration “However, and Finance, CFO we first try to look at things that are not a core part of the university and try to save any way we can.” STATE continued on Page 2 ➤➤

Prominent judge to make visit to Tech’s campus Law Review to host Chief Judge Kozinski By TRAVIS BURKETT STAFF WRITER

Texas Tech will be visited by one of the nation’s most prominent federal judges today. The Texas Tech Law Review will host a visit by Chief Judge Alex Kozinski. Kozinski has been chief judge of the United States Court of Appeals for the Ninth Circuit since 2007.

INDEX Classifieds..................7 Crossword..................4 Opinions.....................4 La Vida........................3 Sports..........................6 Sudoku.......................6

Face painting, archery, relay races and T-ball were just a few of the activities set up at Jones AT&T Stadium for Red Raider Play Day on Sunday. More than 100 student athletes showed up to play with the local kids of Lubbock. “Our fan base is not only the school but the community,” soccer player Haley Fowler said. “I think it’s important for these kids to know that athletes are role models for them and (are) there to be positive influences.” The Athletics Department worked with Lubbock Independent School District to get the word out to 32 elementary schools about Red Raider Play Day. The event was offered for children ages 6 to 10.

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SARAH MARTINEZ, 9, hits the ball during a game of softball at the Red Raider Play Day at Jones AT&T Stadium on Sunday.

By LAUREN FERGUSON STAFF WRITER

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PHOTOS BY LAUREN PAPE/The Daily Toreador

Kozinski was born in Romania, with both parents being survivors of the Holocaust. His family moved to the United States in 1962 and settled in Los Angeles. He has been practicing in the field of law ever since he graduated from UCLA Law School in 1975. According to a memo by the Tech Law Review, during his professional career Kozinski has worked in private practice, served in the White House counsel’s office under President Reagan and acted as chief judge of the Court of Federal Claims before being appointed to the Ninth Circuit.

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P I P E R WALLER, 4, participates in a relay race at the Red Raider Play Day at Jones AT&T Stadium on Sunday.

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Martin: Take care to prevent, treat injuries when exercising OPINIONS, Pg. 4

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