Saturday, January 23, 2010

how to turn one dollar into four...LOL!

From Nancy Rodriguez in the C-J...

The University of Louisville is a major economic driver for Louisville and the state and provides a solid return for the state funding it receives, according to a study released to the university’s executive committee on Thursday...

No conflict of interest there!

The study was done by Manoj Shanker, a Kentucky economist, and focused on fiscal years 2003 to 2009...found that every dollar U of L received in state funds resulted in an additional $4.12 going into Kentucky’s economy.

Really. That's amazing! If it's true, then Kentucky taxpayers are having far too little money taken from them to give to U of L.

But of course, that's garbage....

Shanker found that U of L successfully leveraged state money to attract private money and federal grants, even as the state’s portion of the university’s budget dropped from 26 percent to 13 percent.

Did Shanker give credit to the private and federal monies-- or did the state monies receive credit for all of the rate-of-return? If not, that's double-dipping. You can imagine the feds claiming the same amazing rate-of-return, arguing that its monies leveraged the other two sources.


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