Brown and White Vol. 92 no. 30

              lehigh university brown and white vol 92 — no 30 <■ 215 86j-4184 bethlehem ha friday february 6 1981 sit on it mm^^mm wilms f i|)(iw jjjjj ooug qrano-mi workers erect the latest piece ot art donated to the university by phil and muriel berman this one is located outside maginnes hull student government proposal under review by andy lehren the absorhtion ol residence halls council's rhc funds and a lack of clarifi cation are problems cited by campus leaders m the concerned students coali tion's draft for a new student government the draft was presented during the last nine days to the forum xi steering committee the faculty and rhc and is currently being presented to various res idence groups rhc president scot farrell 81 said under the current proposed constitu tion rhc would have to release their funds first off rhc wont agree to do that betty lou bantor 2 rhc vice presi dent noted that rhc is by far the larg est campus student organization in terms of people and finances the way their government is set up there's no definite system of checks and balances rhc receives all of its revenue through concessions she added farrell refused to say how much revenue is generated but added that rhc's budget for 1980-81 is 30,000 he also said the powers allotted to the president of the new student government seem too broad and are not detailed he cited as an example the section which gives to the president the power to make appointments which do not require the student government association's approval farrell alsosaid the concern came up that with the voting motivating groups there is no longer one man/one vote but the situation could come up of one man/two votes for instance if a person lives off-campus and is a member of a fraternity he said then he has two representatives voting in his interest chip delany 81 coordinator of the csc said residence would override in those situations adding that the current draft of the proposal is for debating and feedback by-laws would take care of many of the specifics and we hope to present a referendum to the student body for approval by around mid-semester he added the concept behind it is good said dean of students william quay mak ing voting representation by voting dis tricts is very good he said adding that the purpose of the first draft is to get as much discussion and support as possible but the proposal needs clarifica tion he continued it needs a precise definition of recall recall is very differ ent from impeachment also impeach ment proceedings should have due process he added quay also said that the role size and membership of the committees need clarification money managers to invest portion of endowment fund by tom dipiazza for the first time in the university's history part of the endowment fund the 42 million equity portion will be invested by professional money managers it's one of the more signifieant steps the university has taken in terms of its financial management according to john woltjen university vice president and treasurer the university's move to professional managers should increase the growth of its portfolio woltjen said the three firms selected by the investment sub committee of the board of trustees were chosen because of their diversific.it ion according to trustee kirk pendleton subcommittee chairman the objective is to have 1 very bal anced portfolio that not only l.iki s cart of present needs 01 the university but also builds lor the future pendleton said that's what the endowment is for he added both men agreed thai he money man tigers who took runt ml ol the funds dec i have more tunc and resources to devote 10 investing the equity portion of die 70 million endowment fund than the trustees li(l as the endowment grew and responsibilities of the finance commit tee increased we didn't feel we were able to give it the specific time we had given it in the past pendleton said before the policy change the finan cial committee made the investment decisions while the bethlehem steel cor poration implemented the day-to-day transactions as a favortothe university pendleton said they got absolutely nothing for the service he said the money managers will collect 210,000 from the university for their services the companies fees are one half of one percent of the invested principal one good investment can far more than make that up pendleton explained if their performance is good . . the one-half of one percent is small compared to what they can make for us and what it can mean to the university the investment companies will be monitored by the trustees on a quarterly basis woltjen said the university expects an average rate of return of 5.5 percent a 5-percent growth rate and a total return from principal and incomeof 15-18 percent he added fate sm'kdmm m i«sssssssssssssssssssssss.....sissss ib&w pholo by kevin kettler students who entered the residence halls lottery anx iously study the results ot the drawing to lind out where fate has placed them 7 1 receive sorority bids ; rush deemed successful by ann lewnes this year's was the most success ful rush that lehigh sororities have ever had according to larry phi lippi assistant dean of students sorority rush began jan 21 with 183 women registering at that time ninety women were invited back for the last night of rush preference party "), but six withdrew from rush that night on saturday which was pledge day 71 women received bids from one of the three sororities only j one bid was not accepted sorority rush is quite different from fraternity rush at the university mainly in that it lasts for only 10 days and that alcoholic beverages are | prohibited see sorority page 8 inside water shortage p-5 grapplers win p 12