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APPROVAL OF PRATT FUND DISTRIBUTION FOR 2002-2003
 
 
 
 
 
 
 
 
 
 
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APPROVAL OF PRATT FUND DISTRIBUTION FOR 2002-2003

RESOLVED that the budget for the expenditure of funds from the Estate of John Lee Pratt be approved to supplement appropriations made by the Commonwealth of Virginia for the School of Medicine and Departments of Biology, Chemistry, Mathematics and Physics in the College of Arts & Sciences. The normal allocations, not to exceed $2.6 million for 2002-2003, are suggested by the department chairs and recommended by the dean of each school. The special distributions are not to exceed $3,533,000 for 2002-2003. To the extent the annual income from the endowment is not adequate to meet the recommended distribution, the principal of the endowment will be disinvested to provide funds for the approved budgets.