How Funds Granted to the Eisenhower College and the Rayburn Library Were Spent
GGD-77-4: Published: Oct 29, 1976. Publicly Released: May 1, 1979.
- Full Report:
The use of grants authorized under Public Law 93-441 to Eisenhower College at Seneca Falls, New York, and the Samuel Rayburn Library in Bonham, Texas, was investigated. The amount of the funds involved depended on the sale of silver $1 proof coins bearing President Eisenhower's likeness. The law authorized appropriations of up to $10 million, one-tenth of which was to go the library. No additional grants can be made under existing legislation. The grants were unconditional; the college and library were not restricted in their use of the funds. As of June 30, 1976, the college funds had been used as follows: investments, $3,451,700; operating expenses, $2,346,047; and capital projects, $2,602,000. The library invested all of its $933,305 and uses some of the income received for general expenses. Income from the college's investments are used to support a student-aid program. No increase in enrollment at the college has resulted from the grant. Available federal funds probably made the salary increases in 1975 possible. Grant money for the college was used to pay off a large construction loan. The college is considering sending some of its students to the library to study under the Rayburn Library Cooperative Program, but cannot implement the program unless additional grant funds are received.