Resolution:Approval of the 2011-2012 Annual Plan

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Approval of the 2011-2012 Annual Plan

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This resolution approving the 2011-2012 Annual Plan was approved unanimously on 28 June 2011.

Resolved, that the Board of Trustees hereby approves the proposed 2011-12 annual plan of $28.3 million of spending and $29.5 million of revenues with the reserve at $20.7 million at the end of 2011-12. These amounts do not include restricted gifts to fund additional project work.

If, during the year, the Foundation's management anticipates the reserve at each quarter-end will differ materially from the plan, the Board directs management to consult the Board Treasurer promptly.

Reference:

• Annual Plan (pdf) and Q&A about the plan