May also recommended to the board a budget of supplemental expenditures, which includes a 0.5 percent charge to all new endowment gifts to be continued for a second year, to support the current development campaign. An earlier bill would have hampered the university's efforts to manage the trusts, which make up a substantial portion of gifts to the university. University officials expect to resolve the issue permanently during the next General Assembly, May said. The board also reappointed investment managers to assist in handling the university's endowment fund. In doing so, they shifted management of a university-administered equity fund to two index funds managed by Barclays.
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