Highly competitive salaries in the private sector have resulted in approximately 30 percent turnover of the technical and support staff who have taken private sector jobs. The university's endowment has reached an all-time high, James L. Nichols, university treasurer, told trustees. And that increase has trustees and university officials smiling. Trustees will vote on the proposal in September. Trustees also voted to approve the sale of commercial paper to fund construction projects, making Ohio State the first university in the state, public or private, to utilize the funding mechanism.
Commercial paper is sold much like short-term notes.
Bonds are sold when the funding needs for construction meet a critical mass.