   
UCA to discuss Oxford American funding issue
By MONICA HOOPER
log cabin staff writer
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 University of Central Arkansas President Lu Hardin has offered $140,000, on behalf of UCA, to help the Oxford American to stay in circulation. The magazine is facing up to $100,000 in losses after a former office manager for the magazine, Renae Maxwell, was arrested on theft and forgery charges.
According to Warwick Sabin, UCA will provide $140,000 if the Board of Directors of The Oxford American Literary Project Inc. agrees to the following conditions:
The money will be repaid to UCA within six months; the university will assume control over the business operations of the magazine, including all budgetary and personnel decisions, financial controls and procedures and auditing; UCA will take possession of all existing financial records, and an overall operational review will take place immediately; UCA and the Board of Directors of The Oxford American Literary Project Inc. will begin conducting quarterly reviews of all financial transactions and approve future budget allocations. In addition to the terms of the agreement, UCA will not intrude in the editorial content of the magazine.
There will be a board meeting concerning funding issues for the Oxford American at 1 p.m. today in Wingo Hall, Room 210, on the campus of UCA. "That's when the decision is going to be made about the offer UCA has made to the magazine," Sabin said.
"UCA wants to make a commitment to keep the magazine, but also in return for that commitment, UCA wants to make sure the Oxford American can become self-sustaining as a business operation," Sabin said. "UCA gets a tremendous benefit out of having the Oxford American on campus for a number of reasons. First of all, the prestige of the magazine is something that helps raise the profile of UCA on a national level." Sabin added, "UCA is one of the only college campuses in America that has a magazine of that caliber actually produced on its campus. In order for students to have a chance to work at a magazine like this, they'd probably have to be in New York or Boston," Sabin said. "Had the embezzlement not happened, I think the Oxford American would be in good shape right now."
The Oxford American magazine is no stranger to funding problems. Started in 1992, while editor Marc Smirnoff was working at Square Books in Oxford, Miss., many writers, including John Grisham and Barry Hannah and others donated money and work to the first issue to help the magazine begin publication. Three issues were published, one of which featured previously unpublished photos from Eudora Welty, and two years later, the magazine ceased publication because of funding issues. It was resurrected through contributions from author John Grisham in 1995, but ceased publication again in 2001. In 2002, the magazine moved from Oxford to Little Rock and was published through AtHome Inc., but went out of business due to lack of advertising revenue.
Finally in December 2004, UCA invested $490,000 in the Oxford American. The magazine became a non-profit publication and authors and private citizens donate to the magazine.
(Staff writer Monica Hooper can be reached by e-mail at monica.hooper@thecabin.net or by phone at 505-1266. Send us your news at www.thecabin.net/submit)
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