In a well-attended public meeting held on June 10, 2025, the Investment Committee of the University of Pittsburgh convened to discuss crucial financial strategies for the upcoming fiscal year. Chairperson Jim Colbert welcomed attendees, emphasizing the meeting's compliance with the Sunshine Act, which ensures transparency and public access.

The primary focus of the meeting was the proposed income spending policy for the university's Consolidated Endowment Fund (CEF) for fiscal year 2026. Dwayne Pinkney, the university's Executive Senior Vice Chancellor for Administration Finance and Chief Financial Officer, presented an overview of the recommended spending percentages. He explained that the CEF comprises various individual funds, each with specific purposes and restrictions, yet managed collectively for investment efficiency.

For fiscal year 2026, the committee recommended maintaining the current spending policy, which allows for a distribution based on the greater of 4.25% of the three-year average fair value of the assets or the previous year's income distribution per share. Pinkney noted that the prior year's income distribution per share surpassed the 4.25% threshold, leading to the decision to enact the floor provision for this year. Consequently, the proposed income distribution will remain at approximately $6.03 per share for the CEF and $6.74 per share for the university's operating funds quasi endowment.

After a thorough discussion, the committee unanimously approved the resolution authorizing these income percentages. The meeting concluded with the approval of minutes from a previous gathering, and no new business was raised, allowing the committee to adjourn smoothly.

This meeting marks a significant step in ensuring the financial health of the university's endowment, reflecting a commitment to prudent fiscal management as the institution prepares for the challenges and opportunities of the coming year.