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Coe Cuts to Balance Budget THE VOLUME 128,COSMOS ISSUE 23 FRIDAY, MARCH 31, 2017 CEDAR RAPIDS, IOWA COE CUTS TO BALANCE BUDGET At tuition-driven even public institutions comes from earnings Lisa McDonald Editor-in-chief institutions like Coe, it is are becoming tui- on the endowment and an ongoing battle between tion-driven as state and 4 percent from the Coe Provost and Dean increasing enrollment local governments cut Fund, an annual fund of the Faculty Paula without decreasing stan- back on their funding of gifts made to the col- O'Loughlin said initial dards. support. lege that are spent with- steps taken by the college in one fiscal year. to address the $1.8 mil- The other 1 percent lion dollar deficit includ- comes from miscel- ed developing new reve- laneous sources. nue sources, suspending However, several programs like the New developments over York term, cutting back the past few years on overloads, combin- reached a breaking ing positions, not fill- point this year, said ing open positions and O'Loughlin, that performing a zero-based forced the college to budgeting exercise. make some tough Despite this, budgeting decisions. O'Loughlin said the Small earnings on Coe's endowment and smaller en- college still fell short Factors influencing rollment than expected are some of the reasons spurring of cutting the necessary budget costs. As such, the college Coe's recent budget decisions. Photo by Lisa McDonald. made the decision to let Tuition-driven insti- For Coe College, about Most institutions of go some staff people in tutions, or institutions 80 percent of the yearly higher learning de- various areas. where the operating budget depends on stu- pend on endowments O'Loughlin said less budget is funded largely dent tuition/room/board to cover some of their than five staff people were through tuition, used to and fees, said Executive operating costs. notified their employ- be a synonym for private Vice President Michael "Endowments come ment will end at the end institutions. However, White, while 15 percent from gifts from friends of this academic year. Continued on pg. 3. INSIDE THE COSMOS NEWS 2 SPORTS 7 FEATURES 9 DIVERSIONS 10 BASEBALL IN JAPAN JOHN DEERE TOUR TENNIS SETS RECORD INDEX P. 4 P. 5 P. 8 2News Friday, March 31, 2017 THE COSMOS Japanese students say farewell 2016-2017 STAFF Mohan Xu and fried food. tunity for her to practice EDITOR-IN-CHIEF Staff writer Lisa McDonald Makoto Ban talked English, and if she has “a about the differences be- chance in the future, I will COPY EDITORS The day before leav- Lisa McDonald ing for Japan on March tween American Disne- come back to Coe again.” 25, the seven Japanese yland and Japan Disney- “I like to study and live ASSISTANT LAYOUT exchange students from land. Ban said people are here because it seems like EDITORS allowed to take photos living in a big family,” said Julia Passantino the University of Nagoya presented on their sev- in America’s Disneyland Wen. PHOTOGRAPHERS en-week experience at but it is not allowed in “I have been homesick Amanda Bourne Coe. the Disneyland in Tokyo, for two weeks, but my Katie Guinane The students started Japan. roommate is so good, and the Short English Lan- Xinrong Wen said the professors are so friendly,” STAFF WRITERS guage Program in Febru- biggest difference she said Hikaru Ochiai. Bridget Moore ary. During the presen- witnessed was the living Yuusuke said he feels Yuan Chai tation they talked about arrangements, since in happy that his friends and Allison Bartnick the differences between Japan she lived at home professors helped him Nicholas Hodges America and Japan by instead of in a dormitory. to improve his English Jaimee Rindy comparing the food, After discussing some ability. Jiun Lee Disneyland, Hollywood, of the differences, the As Ban and Marie Mohan Xu supermarkets, sports and students described their Katou said, they think the Anne-Raphaelle Bigot eating styles. personal experiences. people here are very kind. Tabetha Sprunk Hiroki Hirano talked “Even though it is a All the students said Melissa Maylum about the food differenc- little difficult for me to they learned a lot about Claudia Chiappa es. He said Japanese peo- study in English, I still American culture for the Lauren Hurley ple usually eat Tofu, sushi, feel good,” said Yukari seven whole weeks, and and noodles, but Ameri- Kawamoto. they would like to return SPORTS EDITORS can people usually eat fast Hirano said the expe- to Coe someday. Ryan Izer food like the hamburger rience was a good oppor- Delena Humble COLUMNISTS Nina Wilson Seven Japanese Michael Lachocki exchange students Mariah Porter from the Univer- sity of Nagoya are TREASURER left for Japan on Lisa McDonald March 25. Photo by FACULTY ADVISOR Mohan Xu. Shawn Harmsen CONTACT US [email protected] Phone: 319-299-8646 Fax: 319-399-8031 Friday, March 31, 2017 News 3 Continued from pg. 1. approximately 6.3 percent; college has been affected cannot be used for any- of the college, alumni, and however, the last two years by the steps we have had thing else. He also noted other friends," White said, the earnings were only 0.3 to take to close the deficit grants and long term "with the idea of setting percent. for next year," O'Loughlin financing are sources of up a fund that would last In this case, Coe had said. However, O'Loughlin funding for the construc- in perpetuity." to pull principal from emphasized the college tion projects. In other words, the the endowment itself to cannot just cut its way O'Loughlin said the endowment generates make up for the difference to success. The college college hasn't pursued money for the college between assumed budget also has to be strategic grants for the STEM and through being invested and actual earnings. and continue to invest in Humanities fields as ag- in stocks and bonds and Additionally, Coe based academic programs where gressively in the past, but other investments. The the college's budget on there are high student there are currently sev- larger the endowment, the 1,345 full-time students demand. eral large grants they are more earnings the college enrolling in the fall, White "There are some areas working to receive and she receives on the invest- said, but fell short by where we need faculty," hopes to "develop a culture ments. about 28 students. O'Loughlin said, "and the of grant seeking," which The Board of Trustees "[Enrollment is] actu- commitment to the stu- would help develop the Investment Committee, ally at an all-time high, if dent experience means college’s resource base. a subcommittee of the you look at it historically," you're trying to get tenure Finance Committee, is re- White said, "it's just we track faculty in for those White said the college sponsible for determining didn't hit where we were positions." spent about $6 million the best way the endow- budgeting." Students have expressed from endowment earnings ment should be invested. concern over what they or principal during the While some institutions Measures to balance see as a paradox: how can 2015-16 fiscal year, and for decide investments by budget the college be in financial the 2016-17 year reduced themselves, White said straits if they are funding that spending to $5.6 mil- Coe works with the Me- O'Loughlin said there the Eby and Hickok con- lion. He said the college keta Investment Group, are two principal priorities structions? will reduce that to $5.2 an investment consulting driving the college's bud- White said that Eby and million in the 2017-18 firm, to determine the get-balancing decisions: Hickok constructions are fiscal year, and eventually most opportune ways to minimizing the effect on what's known as capital get the use of endowment invest. the student learning expe- projects, or projects that earnings down from the On average, institu- rience, and affecting the are funded separately from current 7.34 percent to the tions assume they will livelihoods of the fewest the endowment. 5-6 percent range. earn about 7-8 percent on employees of the college as Unlike the endowment, "Students should know their endowment invest- possible. where money is invest- we are committed to ments each year and base Earlier in the year, as ed in stocks and bonds providing them each a their budget on spend- part of the annual staffing to gain earnings, White life-changing Coe College ing anywhere from 4-7 plan for the academic pro- said, money received from education," O'Loughlin percent. gram, the college eliminat- friends and alumni for said, "and that we want to White said Coe has ed some part-time faculty capital projects go imme- ensure the absolute best been bringing the spend- positions and changed diately into funding the experience for them." ing rate down each of some adjunct positions to project. Anyone with questions the last three years and part-time, meaning chang- This money is given can contact O'Loughlin at for the 2017-18 Coe is ing benefit-based posi- specifically on the stipu- [email protected]. budgeting a 7.09 percent tions to positions without lation that it be used for spend rate. The college as- benefits. the construction projects, sumes an earning rate of "Every area of the White emphasized, so it 4News Friday, March 31, 2017 The Transpacific Field of Dreams Japan was introduced to Lisa McDonald Editor-in-chief baseball over 70 years before. The Field of Dreams When Commodore isn't just an American Matthew Perry pulled phenomena—the baseball Japan out of its self-im- bug bit Japan equally as posed isolation in the 1850s, Japan vowed not to hard, something Profes- History majors and faculty gather for a photo follow the path of China sor Sayuri Guthrie-Shi- following the March 27 talk on Japanese baseball.
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