Dear Fellow BUU Members,
On February 18th after services we will hold an important congregational meeting. The meeting has two important purposes: 1. Consider the proposed budget for FY 24-25. 2. Consider approving a revised endowment policy, one that is more concise and more precise. Below are two key points of difference to assist in your decision making.
- The Current Endowment Policy is vague about the distributable amount. The Proposed Revised Policy defines the distributable amount as 4% of the value of the Endowment Fund as of December 31st of a given year. That date gives the Board working with the Finance Committee and the Endowment Committee six months to decide how the funds will be expended in the next fiscal year starting on July 1st.
- The Current Endowment Policy is vague about the amount of the principal. The Proposed Revised Policy defines the principal as 1.1 million dollars. This amount may be adjusted in the future by a vote of the congregation.
For those of you who want to read the current endowment policy and the proposed policy in their entirety, please read the following attachments.
Russ Peterson, President
Here is the link to the BUU Endowment Fund Policy https://borderlandsuu.org/wp-content/uploads/2024/02/BUU-Endowment-Fund-Policy-20141.pdf.
Here is the link to the Revised Endowment Policy https://borderlandsuu.org/wp-content/uploads/2024/02/lBUU-Revised-Endowment-Policy-2024.pdf.
Borderlands Unitarian Universalist Congregation
Endowment Policy Congregational Election
February 18, 2024
The BUU Board of directors, Finance Committee and Endowment Committee have reviewed the existing policy and developed and presented a revised Endowment Policy for congregational approval.
A vote by the congregational members is necessary for approval.
PLEASE INDICATE YOUR DECISION BELOW:
As a member of the Borderlands Unitarian Universalist
Congregation, I vote:
YES: _________ NO: _________
(Optional) Name: Print
________________________________
(Optional) Signature:
__________________________________
(Optional) Date:
_______________________________________
Instructions: for absentee voting, reply to this email with your vote marked.
Best,
Jermain
Jermain Lowe
Office Administrator
520-648-0570
520-648-0570
Officemanager.borderlandsuu@gmail.com
Borderlands UU