University of Saskatchewan

Policies

Spending

Operations and General Administration

Responsibility: Vice-President, Finance and Resources
Authorization: Board of Governors
Approval Date: Nov 10, 2004
Amended: May 5, 2006 / Dec 12, 2008 / May 1, 2012

Purpose

To ensure the prudent administration of trust and endowment funds and to provide guidelines for the calculation and distribution of the annual amount available for spending those funds. The Policy will be applied to all endowed (internally and externally restricted) funds except as provided in individual trust agreements.

Under this policy the Committee sets a spending amount which will be paid out regardless of the actual income or appreciation experienced that year. The purpose of this policy is:

Policy

The University should manage trust and endowment funds to ensure that the annual income continues at an adequate level to support the projects and programs in accordance with the donor's direction or intent.

The University is committed to protecting and preserving the original contribution of endowed funds and ensuring that: the funds provide an appropriate level of funding for current and future generations.

This policy is based on the 'prudent person approach' to ensure prudent investment and administration.

Procedure

The University strives to ensure adequate funding is available to support current and future needs.

Related Documents

There are no other documents associated with this policy.

Contact Information

Contact Person: Director, Student Accounts and Treasury, Financial Services Division
Phone: 306-966-4604
Website: www.usask.ca/fsd