OSSIPEE, N.H. (AP) – The University of New Hampshire will return thousands of dollars in revenue from timber sales to a scholarship fund for students from Carroll County.

University trustees admitted earlier this month that the money for the Lord Fund had not been managed according to the donor’s will.

Trustee George Epstein, who chairs the finance committee, offered to return more than $61,000 and negotiate the possible return of another $22,000.

Francis Lord, of Ossipee, donated about $300,000 in land and cash to the university in his 1936 will. The fund is worth more than $1 million now.

Recently, the university admitted to withdrawing 1.7 percent from the fund each year for general fund-raising, without first alerting local schools, a violation of the terms of the will. That decreased the amount of money available for the Lord Fund scholarships.

The university says the withdrawals were legal. It also said that in recent years, it has been able to triple scholarships of all kinds that it offers to students from Carroll County.