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Don't Smoke: But don't worry about it,
because the regents' new campus
smoking ban probably is impossible
to enforce .... . . ..... r p.8
Swine FTj Cicotoat: Students should
be able to get vaccinated against
the swine flu next fall '. p.7
daily Qofe(r(ao!ss
thursday, zpril 22, 1 976 vol. 3 no. 1 1 5 I incoln, nebraaJca
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rtiota by Td Kirk
No, it's est a nsysSsrisEs sdtsa trsrrils fa-.
ccmmmkzft or a strsre Kn Ktax Khsser.
It's a portals curtala sl t&e feet belong to
a puppeteer. Ills adssiser is wsiiisg for the
next peppet to peer cat He Playhouse Pcp
peteers gsare a free perfsnasace Wedsesl
nesr tie Broyftl!! Foocta. .
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mcnsQSGs
in svor vor now
By Joe Hsidson
Sales and income taxes were not altered Wednesday at
a meeting of the State Board of Equalization, but Secre
tary of State AMen Beermann warned that the board may
be forced to increase rates when it meets again in Novem
- ber. : ..
The board, with Treasurer Frank Marsh absent, voted
unanimously to keep state sales, and income taxes at their
respective 23 per cent and IS per cent levels.
During the meeting, - Beermann " questioned Tax
Cornrnissioner William Peters projection that the general
revenue fund will have a $12.2 million balance when the
current fiscal year ends June 30.
Beermann said the projections indicate the state may
be "very, very close' to a fiscal crisis if tax rates are not
changed. . ''.'
The board could make a better tax rate decision, Beer
mann added, if it could meet closer to the end of the
fiscal year, when, he said, a more reliable cash balance es
timate would be available.
Peters' projection assumed state agencies will spend 95
per'cent of their 1975-76 appropriations. That assumption
is based on "histories! experience," Peters said.
The tax commissioner's figures show that with a 100
per cent expenditure rate, the state wl face a $8.8
miHion deficit June 30, the end of the fiscal year.
Projections would have to be off at lesst 4 per cent to
cause a cash flow problem, Peters said. He sail he did not
expect cash flow problems in future months, but ad
mitted the state could be "very doss to such a crisis if
his prcjsctions are off. V -
Cash flow problems refer to the temporary shortage of
funds in the state budget resulting from the difference be
tween the fiscal and tax year.
"Cut we also may have several million dollars extra
if the estimates are inaccurate in the other direction,
Peters said.
"As far as any serious cash flow problems axe con
cerned," Peters said, "we wouldn't encounter anything
comparable to this month until April of next yecr.
The state has been forced to dchy mailing of income
tax refunds since March 22, and a school aid payment das
April 15 also was postponed.
Peters said l!arsh now has been authorized to send the
school aid checks, and that about 45.CC3 income tax
refund checks w21 be in -the recsnts rnsfboxes lite
next week.
The board, comprised of Beermann, Peters, ilrsh.
Gov. J. James Exon and Auditor Key A.C Jchascn, met
to ccnly with a 1975 lr req-siring the board to
ccneiier tax rate cf jstments within 15 ckys cf ths end cf
eachkh:tif3sescn.
u
siiverssvy BOW1
-ly jc
R
iwer rei um rove min
By Ren Repass
Univenity investments this year are drawing a lower
rate of return than in previous years, said Emily Nelson,
NU assistant investment officer and endowment manager.
Interest on temporary cash balances (tuition payments,
advance registration deposits, etc.) for July 1975, to
March is $336,547. This compares to $771,843 in 1974
75, $820,811 in 1973-74 and $254,905 in 1972-73, she
said.
Nelson said temporary cash balances range from $4
million to $14 million, depending on when tuition and
other monks come into the university and when they are
used.
A3 university investments are made through the State
Investment Council, or with its advice, Nelson said.
William Erskine, vice-president for administration,
said that in addition to temporary cash interest revenue,
interest from eindowme'nt funds (given to the university
by individuals) probably will be less than in previous
years. The university has $43 million in endowment
funds this year.
Nelson said $539,714 was made from endowment
interest in 1974-75, compared to $441,503 in 1973-74
and t $372,693 in 1972-73. Figures for this fiscal year are
not available, she said.
Erskine said the university's investments are managed
daily, under the recommendation of State Investment
Officer Don Mathes.
Most university investments are in common and pre
ferred stocks, government securities, treasury notes and
commercial paper.
The endowment funds held by the university are going
into a pooled account, Erskine said, which is a change
from investing the funds separately.
The NU Board of Regents, which has control over the
funds, along with the Nebraska Legislature, decided a pool
investment would allow spreading of investments to re
ceive maximum security from them.
He said the Omaha National Bank will be handling the
pooled investment.
"There is less of a chance that an investment could go
sour," Erskine added, "and a lot more investing can be
done with larger sums of money."
Harry Ihynie, University of Nebraska Foundation
president, said the foundation contributes from $13
million to $2 mSion each year to the university.
- ,
This money is used for student scholarships, construc
tion, library purchases and professorships, he said.
The foundation, a nonprofit charitable organization
separate from the university, "encourages alumni to give
something (monetary) every year," Haynie said.
It has its own investment program, he noted, but NU
President DJB. Varner and two regents are on the foun
dation's board of directors.
He said foundation money is spent as donors dictate.
"We do not try to add up a lot of dollars on our fi
nancial statement," Haynie added. "We just try to benefit
the university as much as possible. -
mm
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The Gcliea Arches cry net
asecend tne. '
fn .o t n i o :'T.n
McDcnalTs Restaurants has aeked ths city for a second
"deferral cf its zone charge application to build at 1319
and 1325 R St, according to Denny Paul, real estate man
ager in ths McDonald's regional office in St. Louis.
Paul said hs was not sure when, if ever, McDonald's
wfl apply to changs ths zeniag cf ths property from
reddantM to ccsrmercid. MaDoni!is had not expected
ry ccntiovei over ths prepcesd zenfe change, he ssid. .,
McDonald's reaoning rcq'sst criina! v soheded
-to be haarf by the Oaccln City Rinsife! CcsninMon cn
; March 17, but representativts from MaDcndds and ths
' kad's Qwsst, Nebraska Bookstore Co., asked to postpone
ths hearing.-'
MaDccali's sigaed a contract in Merch traieiriag ths
Batccsr-
tica cf the ccatraat was ccntiagent epen saocsasfd r
;.s didnt think we'd canes sash a stir, Pari ssil
on R St. as McDisssM's Restaseants poseses Ms rszcniag request heariag for :
n o
"We have no idea why people are opposed to it."
McDonald's has cutlets cn ccHegs campuses through
cut the country, Peal said. Ha added that many are
located in student unions.
Ohio Stats University has three fast food chains
located in its student union, Paul said. There are outlets
at tro ether Chio crr.'ersities and ens m ths Frankiia
Mint in PLlaidjihia,' Paul said. There are mors cutlets
cn campnaes, hs said, but hs was not snrs cf their loca-
Rita Peterson, a secretory for ths Gty rkzafr Ccn
raM-on, said she had contacted MsDonairs cs:!lir thi
week tad was told by a parson in ths SX Lor jt cHjre t!-it
ths cssapazy ws&tsd the zona cha-gs haorirg to te peat-
"They tsiJ they wodd conteat ths ci if they CzZzl
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