The college employs a constant growth endowment spending policy based upon a corridor approach. Under the College’s spending rate policy, the amount of endowment fund investments appropriated to support current operations is increased by 4% from the previous year provided that the resulting amount does not exceed 5.5% of the average market value of endowment assets for the three prior fiscal years and is not less than 4.5% of the average market value of endowment assets for the three prior fiscal years, calculated as of June 30th each year. Funds must be invested at least one year before receiving an allocation.
In effect February 14, 2008.
Vice President for Finance and Business Affairs.