During its spring-term meeting in Hanover on June 6, the Dartmouth Board of Trustees approved capital and operating budgets for the College's 2009 fiscal year and approved appointments for endowed professorship positions and tenured faculty positions.
The FY 2009 budget will be the first to reflect the effects of an earlier board decision to adjust the annual endowment distribution formula toward a goal of approximately 6 percent of the fund's beginning market value (currently nearly $4 billion), along with a supplemental distribution for up to five years.
The additional spending will further several key strategic initiatives: expansion of the faculty, an enhanced undergraduate financial aid initiative announced earlier this year that will go into effect this fall, and financing for academic and student facilities.
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Last Updated: 12/17/08