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Trustees approve FY27 endowment spending cap of $140,476.92
Summary
Alternate Trustee Bruce Kneuer moved and the board unanimously approved a FY27 endowment expenditure cap of $140,476.92; trustees discussed how market volatility could affect how much the fund yields for annual spending.
Alternate Trustee Bruce Kneuer moved to set a FY27 endowment spending limit, and the motion passed unanimously.
"Kneuer moved to approve the FY27 Endowment Budget with a not to exceed expenditure limit of $140,476.92 (one hundred forty thousand four hundred seventy-six and ninety-two cents); Sessler seconded. Motion passed unanimously." The board recorded the motion and vote during New Business. Trustees then discussed potential market volatility and how changes in investment returns could affect the size of future distributions from the endowment.
