News

Endowment distribution to remain the same for 2022 fiscal year

The Investment Committee of Pitt’s Board of Trustees voted at a public meeting Thursday morning to keep the spending policy and distribution from the University’s endowment funds the same in the 2022 fiscal year.

On the advice of Hari Sastry, Pitt’s senior vice chancellor and chief financial officer, Pitt’s endowment distribution will remain the same as the past 2021 fiscal year. The committee approved a flat distribution rate this year in the wake of the COVID-19 pandemic.

The committee voted unanimously in favor of the resolution to approve the income

distribution amount from the University’s Consolidated Endowment Fund, or CEF, for fiscal year 2022, representing 4.25% of the three-year average fair market value of the assets.

The committee also voted unanimously to approve the income distribution amount from the University’s Operating Funds Quasi-Endowment for fiscal year 2022, representing 4.75% of the three-year average fair market value of such assets.

newsdesk

Share
Published by
newsdesk

Recent Posts

Opinion | The dying art of going to a movie theater

But as time goes on, theaters close their doors for good, and streaming services become…

1 day ago

The Pitt VolleyBand: The seventh player

Wisconsin volleyball fans walked into their “armory bunker,” also known as UW Field House to…

1 day ago

SGB announces student safety, grocery store initiatives

During its weekly meeting on Tuesday at Nordy’s Place, SGB discussed new initiatives to increase…

2 days ago

Pitt Open Lab ‘I Voted’ button-making contest selects a Roc-themed winner

As the 2024 Presidential Election approached, many on-campus events took place encouraging students to participate…

2 days ago

Column | The Mike Williams redemption arc is here

Brandon Aiyuk. Davante Adams. Cooper Kupp. DeAndre Hopkins. Christian Kirk. Adam Thielen.  Name after name…

2 days ago

Opinion | The greatest tropes & cliches in media

Are we in the mood for a titillating arranged marriage and spicy there’s-only-one-bed scene? Or…

2 days ago