Investment Funds Spending Policy

On an annual basis, the Finance Committee, in consultation with the Investment Committee, will recommend to the Board of Trustees how much income will be withdrawn from the investments to support the operating budget for the ensuing year. The spending rate will not exceed 5% of the total discretionary funds measured each June 30, based on the three-year rolling average of the market value of the funds. Discretionary funds do not include the principal or earnings of the Endowment Fund or the Lucien Libby and Miriam Boothby Funds or any other funds received by the Library that are restricted for a specific purpose; however, unless otherwise stated, the Library may consider any earnings from such funds a s non-discretionary. 


From Investment Policy - Approved May 15, 2008, Amended June 17,2010. 
Spending policy amended January 19, 2012, Renewed June 21, 2018