Senator Stack Meets with PSU President
HARRISBURG — At a meeting in the state Capitol, state Sen. Mike Stack on Tuesday discussed the financial implications of potential liability lawsuits from the sexual abuse scandal at Penn State with the university’s President Rodney Erickson.
“I am very concerned about how these potential lawsuits would be handled and how the university will pay for its representation. As the Democratic chairman of the Senate Banking and Insurance Committee, I felt it was necessary to hold a serious discussion with President Erickson,” Stack said following the meeting.
“The president assured me that no taxpayer funds, student tuition or donor dollars will be used, and he explained that the university’s liability policies are segregated from its general fund,” the senator said.
Penn State will receive $214 million in funds from the 2011-12 state budget. The university’s budget for this Fiscal Year is $4.1 billion.
“I made it very clear to the president that the investigations at Penn State and any actions taken by the university must be conducted in a responsible way,” Stack said. “I have asked President Erickson to stay in contact with me as the investigations move forward. I will continue to monitor the situation to make sure that Penn State’s subsequent actions remain open and transparent.”
The meeting was the result of a Dec. 1 letter that Stack sent to Erickson expressing his concerns on these financial issues.
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“I am very concerned about how these potential lawsuits would be handled and how the university will pay for its representation. As the Democratic chairman of the Senate Banking and Insurance Committee, I felt it was necessary to hold a serious discussion with President Erickson,” Stack said following the meeting.
“The president assured me that no taxpayer funds, student tuition or donor dollars will be used, and he explained that the university’s liability policies are segregated from its general fund,” the senator said.
Penn State will receive $214 million in funds from the 2011-12 state budget. The university’s budget for this Fiscal Year is $4.1 billion.
“I made it very clear to the president that the investigations at Penn State and any actions taken by the university must be conducted in a responsible way,” Stack said. “I have asked President Erickson to stay in contact with me as the investigations move forward. I will continue to monitor the situation to make sure that Penn State’s subsequent actions remain open and transparent.”
The meeting was the result of a Dec. 1 letter that Stack sent to Erickson expressing his concerns on these financial issues.
The news leader of the Twin Tiers ...since 1947
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