Policy & Procedure updates - Feb. 15, 2023

The following draft document is now available for community review and comment and is posted on the Policies & Procedures Drafts Site. The document will be posted on the drafts site for a period of two (2) weeks. Please discuss the document with the appropriate people in your department and send any applicable feedback to controllers.office@yale.edu.

Related documents:

• Policy 2202 Endowment Spending and Distributions – New

This policy is proposed by Finance (the “policy sponsor”), with Gift Administration within the Controller’s Office as the primary subject matter experts. While the policy is new in this format, it does not change existing principles that have historically lived in other formats (e.g., website information, memoranda, etc.).  As such, the principles contained in this policy are likely familiar.

This policy is intended to cover the University’s Endowment Spending Policy (“Spending Policy”) and distributions made in accordance with the Spending Policy. It describes the university’s Spending Policy, which attempts to balance the objectives of preserving purchasing power and providing substantial current support. It also describes the distribution methodology for gifts invested in the endowment. The intention behind formalizing this policy in the University’s policy library is to allow for broad accessibility and ensure a single published source for this information.

As a newly proposed policy, there are no particular changes to highlight. Rather, the document itself is the best source of proposed information.

To review the draft document, please visit the Policies & Procedures Drafts web page.

Always check the Policies & Procedures web page for the latest revisions of all documents. This will ensure you that are utilizing the most up-to-date version.

If you have any questions, please contact Policy & Compliance Services at controllers.office@yale.edu.