Compliance will be measured by calculation based on the values provided by the campus in annual reporting, and verified by audit. Each account has five years, beginning FY 2017-18, to come into compliance with the market value and retainage caps. Because compliance with the 125% cap in market value is to be measured on a five-year rolling average, strict compliance will not be measured until FY 2026-27, with accrual of five years of market value after general compliance with the cap is required.
Categories:
BoRSF Faculty Endowments,
Reporting and Compliance