ST. PAUL, Minn. (AP) — The Minnesota State Colleges and Universities board meets Tuesday to hear a report on the finances of the 43 charitable foundations related to the system.
The report says expenses among the foundations during the last fiscal year were up from the year before while the money sent to the system was down.
In 2010, the foundations spent $10.06 million on salaries, benefits and indirect costs, up from $9.75 million the year before. The increase was attributed to rising costs and filling vacant jobs.
The foundations returned $24.14 million to the system or its colleges and universities last year, less than the $28.37 million returned the year before. That was due to a drop in charitable contributions.
The report on the foundations will be part of the trustee’s regular monthly meeting.
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