FY11 ENDOWMENT POLICY
For FY11, areas may budget as much as, but not more than, 5.0% of the average of an endowed fund's market value on December 31st of 2007, 2008, and 2009. Areas must obtain approval from the Office of Budget and Planning before submitting a budget on a fund that was underwater as of December 31, 2009. Areas are encouraged to minimize spending from underwater funds by deferring or reducing expenses or finding alternate funding sources.