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Learn about Budgets

Budgets are only applicable to Endowed Funds (fund number starts with a 1).

Non-endowed Funds (fund number starts with a 2) do not require a budget since all funds are available for spending as long as there are no encumbrances. Scholarship funds can be an exception due to timing of the award process and the available balance at the time the budget is determined.

Annual Budgets

Budgets are determined by September 30th for the following fiscal year to provide ample time for UT Department to plan and budget.

The board approved spending rate is 4% of the endowment value.

The budget is calculated using a 3-year averaging to smooth out market fluctuations providing budget consistency.

Unspent Budget

Budget dollars remaining at the end of the fiscal year will automatically roll back to Endowed Investment Earnings.

Upon request it may be possible to carry-forward unspent budget dollars to the next fiscal year. To request a budget carry-forward go to: Request a Budget Carry-Forward.

Underwater Funds

Endowed Funds are considered underwater when the value of the fund is less than the Permanently Endowed balance (original gifts from donors). Funds underwater at the time budgets are determined will not receive a budget for the next fiscal year.

>Example

Donor Alumni Scholarship
#1300999
Permanenlty Endowed Gifts   $ 1,000,000
Endowed Investment Earnings   $ - 150,000
Endowed Spending Budget   $ 25,000
Total Fund Value   $ 875,000

Newly Established Funds

There is a one-year waiting period for newly established Endowed Funds to receive a spending budget.