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            "text": "KENTUCKY STATE UNIVERSITY\nPOLICIES AND PROCEDURES",
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            "text": "POLICY TITLE: Interim Policy on Endowment Investment & Spending",
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            "text": "VOLUME, SECTION & NUMBER: 4.1.16"
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            "text": "APPROVED BY: Acting President Michael D. Dailey, PhD"
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            "text": "EFFECTIVE DATE: June 26, 2023 (Expected) [Interim until approved by the Board of Regents—expires 180 days from approval by the President]"
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            "text": "REVISED FROM: Endowment Investment Policy (2012) & Endowment Spending Policy (2018)"
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            "text": "PURPOSE:",
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            "text": "This policy is to outline a philosophy that will guide the management of investment assets toward the desired results. It is intended to be sufficiently specific as to be meaningful, yet flexible enough to be practical.",
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            "text": "This Interim Endowment Investment & Spending Policy is set forth in order to:"
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                    "text": "Define and assign responsibilities.",
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                    "text": "Establish a clear understanding of the investment goals and objectives of the Endowment assets.",
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                    "text": "Offer guidance and limitations regarding the investment and spending of Endowment assets.",
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                    "text": "Establish a basis of evaluating investment results.",
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                    "text": "Manage the Endowment's assets according to industry best practices and applicable laws.",
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            "text": "The Interim Endowment Investment & Spending Policy shall be formally reviewed annually and at such other times as desired by the Board of Regents, or the Board’s designated Committee, and the University’s administration. Any modifications to the policy shall be approved by the Board following their initial approval. This Interim Endowment Investment & Spending Policy shall supersede all existing Kentucky State University Endowment Investment Policies and Endowment Spending Policies."
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            "text": "ALL POLICIES ARE SUBJECT TO AMENDMENT",
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