Foundation offers $500,000 in support for OC

As Olympic College braces for deeper financial cuts, the college's foundation office offered up some much-needed assistance in the form of half a million dollars over the next biennium. In a surprise gesture, OC Foundation Board President Tracy DiGiovanni handed the college's Board of Trustees a copy of a resolution adopted last week that is chock full of support and monies. More importantly, nearly half of that money is labeled as discretionary spending meaning that the college can do virtually whatever it wants, including softening the budget blows dealt by Olympia. "It's amazing," said trustee Alice Tawresey at Tuesday's board meeting. "This money couldn't come at a better time." The resolution, which was passed Thursday, stipulates that for the 2009-2010 school year, the college will receive $125,000 for "unrestricted and designated budget support" with an additional $125,000 "to maintain ongoing support of Funds for Excellence, Program Support, Discretionary Fund, Scholarships and Grants." The money is set to repeat for the same purposes the following year. "This is so that the college can know, going into this trying financial time, what exactly the foundation can commit to," said Foundation Executive Director Joan Hanten. Some of the money is also set aside to fund various projects on all three campuses including work on the Haselwood Library.

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