WHEN THEY WERE YOUNG:
JAMES B. STEWART 1973 alum reflects on his time at DePauw. Read more on page 6
FRIDAY, SEPTEMBER 21, 2012
Indiana’s Oldest College Newspaper ELI’S BOOKS NOW OPEN
University looks to donors to help erase deficit, tuition By JOSEPH FANELLI news@thedepauw.com
The national conversation surrounding the United States’ 13 trillion dollar debt has turned the population into a swarm of economists with their own opinions about how to handle the budget. But here at DePauw, those same problems with balancing the budget sheet also exist. DePauw reported an unrestricted operating deficit of $4.8 million at the end of the 20112012 academic year. A number Brad Kelsheimer, vice-president of finance and administration, said is large in comparison to DePauw’s peer institutions. DePauw has an operating budget around
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$85 million a year that is funded through a number of resources such as tuition, endowment draw and donations. A deficit means that at the end of the year, DePauw is reporting a loss of revenue spent and revenue earned. A number of different factors play into the costs and revenue of the university. In ’08-‘09, when the deficit reached its highest ever at $12.6 million, a national recession stunted market growth as well as made potential donors think twice about giving gifts. That raises costs which in the end raises the deficit. Kelsheimer stressed that deficit is not a “cash flow” problem and that DePauw is “paying
Deficit | continued on page 4 Senior Sara Scully browzes Eli’s Books, the new university bookstore, which opened on the square yesterday. ISABELLE CHAPMAN / THE DEPAUW
Greek Week recap, a goal achieved By ELI CANGANY news@thedepauw.com
For the past few years DePauw’s total costs have bee more than its total revenue; however, the gap has reduced immensely over the past five years. GRAPHIC BY THERESA CARPER
The changes to this year’s Greek Week centered around unity amongst all students, and the creators believe this goal was accomplished. The events of Greek Week were altered this year to encourage students from different Greek organizations to mingle and work together. A committee of 25 students from Interfraternity Council, Panhellenic Association, Psi Lambda Xi, National Pan-Hellenic Council and Multicultural Greek Council worked together to revise the week’s events. One of the most noticeable changes was in the Greek Olympics. This year the event paired together students from all organizations in relay races. “[Greek Olympics] was a lot of fun, it was a
lot of rigorous activity. It was all the fraternities working together as one Greek unit,” sophomore Patrick Orzog said. “I think it was neat making each Greek house work together. Without teamwork we wouldn’t have been able to win gold.” The goal for Greek unity was not only geared towards joining together the IFC and the Panhellenic Association but also Psi Xi, NPC and MGC. Senior ShaDe’ Watson, president of NPHC, found this goal to be met. “I feel like NPHC has been included much more than ever before,” Watson said. “[This year] everyone has been involved, even the events with competitions, people have been getting to know each other.” Senior Erica Mills, Vice President of Program-
Greek Week | continued on page 3