UNIVERSITY ENDOWMENT INCREASES
The university’s endowment rate increased by 3.06 percent from 2014-15, according to data from the National Association of College and University Business Officers and the Commonfund Institute.These numbers are higher than the national endowment return average of 2.4 percent, a decline from 2014’s endowment return rate of 15.5 percent.
The lowest endowment return rate in the past 15 years was reported to be in 2009, with an endowment return rate of -18.7 percent.
Temple’s full endowment for the 2015 fiscal year was $386,230,000. Harvard University had the largest endowment of $3.4 billion.
COSBY SCHEDULED TO APPEAR IN COURT
Bill Cosby’s preliminary hearing is scheduled for today in Norristown.
Former university employee Andrea Constand has accused Cosby of sexually molesting her in his Cheltenham home in 2004. The Temple News reported in December that Cosby was charged with felony indecent assault charges, the first criminal charges pressed against him since dozens of women have accused him of drugging and/or sexually assaulting them.
Former Montgomery County District Attorney Bruce L. Castor Jr. is expected to be a key witness at the hearing today, the Inquirer reported.
It’s unclear how long the hearing will last, and neither prosecutors or Cosby’s lawyers have given a witness list, the Inquirer reported.
Constand had initially filed a civil suit against Cosby in March 2005. Parts of it were unsealed last summer before criminal charges were filed in December.
CITY TO INVESTIGATE WATER TESTING Philadelphia City Council is going to launch an investigation into the city’s water testing methods done by the Philadelphia Water Department.
The water sampling methods used by the Philadelphia Water Department don’t properly illustrate the level of lead in drinking water and could mask the sort of problems suffered in Flint, Michigan, medical ethnographer, Dr. Yanna Lambrinidou told The Guardian.
The Water Department gave faulty instructions to residents to find out about lead poisoning involving removing the faucet’s filter from the nozzle in a term known as “pre-flushing.” The Environmental Protection Agency advised against this testing method because it does not find the highest lead levels.
“It’s irresponsible, it’s immoral and it’s putting people’s lives at risk,” Lambrindiou said to The Guardian. “It misleads the public into thinking they will be OK with corrosion control treatment.”
STUDY: CITY COUNCIL SALARY HIGHER
A new Pew Charitable Trust study found tenure for Philadelphia councilmen has decreased while their average salary has increased.
The study compared the average time served, salary and gender ratio of the City Council in 2010 to the same categories in 2016 for 15 different cities across the country, the Inquirer reported.
For 2016, Philadelphia ranked third in the longest tenure for city councilmen at 8.2 years, beaten only by Chicago and Baltimore. The city also ranks third in average salary at $132,789, trailing behind Washington and Los Angeles.
Women make up 35 percent of City Council, placing Philadelphia behind Detroit, Pittsburgh, San Diego and Washington.
The 2010 study showed Philadelphia had an average 15.5 year tenure, an average $121,107 salary and women made up 41 percent of the council.