A move long overdue, the foundation that manages $235 million of Ball State University's money appointed a chief investment officer.
Thomas Heck, the man appointed, has been doing this job in addition to others since the 1980s but is now able to devote more time to the money management portion of his job.
In the ideal situation, the consolidation of responsibility would lead to a more efficient money management system. Whether or not this is the case will be determined in the near future. However, we have faith in the 20 years of experience Heck has accumulated working for the foundation.
It's good the foundation realized it was time to create a new position to accommodate the hefty amount of growing the university has undergone in the last 20 years. When Heck began his employment, there was a mere $30 million that had to be managed. Change was definitely necessary and we're glad the foundation moved to fix the situation before a worker being stretched too thin caused a serious financial error.
Students live in a state of general unawareness of the people who work behind the scenes to make the university run smoothly. We could walk past Heck on any random day and not even realize who he is, yet he manages a substantial chunk of university money.
We at The Ball State Daily News strive to keep you informed of the higher-ups and what they do to keep themselves occupied daily. With Heck's influential role, he's one who we'll be watching closely to ensure university funds are properly managed.
Congratulations to Heck on the new appointment. Hopefully your life and schedule will be more efficient now that you have a substantial amount of time to devote to being a financial wizard.
We'll be watching.
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