Blanket Waiver: Faculty Endowment Cap on Retention of Expendable Monies

At its meeting of May 28, 2020, the Board of Regents approved a blanket, program-wide waiver for FY 2019-20 of Endowed Chairs and Endowed Professorships policy provisions capping retention of expendable monies in faculty endowment accounts. This waiver is applicable to the cap set in Section XVII of the Endowed Chairs for Eminent Scholars Program Policy and Section XII of the Subprogram Policies and Guidelines for Management and Use of Matched Endowed Professorships. While data on actual spending will be included in annual endowment fiscal reporting submitted in October 2020, staff will not conduct analysis or report to the Board on retention of expendable dollars.  Faculty and campuses do not need to submit individual requests for waiver of this provision based on their own year-end analyses.