Endowment Pool Update

Posted January 9, 2009 in Endowment & Investment Accounting, Financial Services.

This morning, January 9, 2009, Vice President Combe sent an email to the President, Vice Presidents, and Deans informing them that the December 31, 2008 endowment distribution would be reduced from 4% of the trailing 12 quarter average unit market value to 3%. It is unknown at this time whether the spending rate would continue to be reduced beyond this distribution. For planning purposes, you may wish to use 3% as an estimate in your projections for the coming fiscal year. The impact of this reduced distribution will be visible on your December management reports. Click here to see a copy of Vice President Combe’s email.