The new spending level will then become the base against which the 5 percent increases in subsequent years are applied. We don't want to spend too much of our endowment income each year, or too little. This is the fourth time in the last decade that Princeton has made an upward adjustment in its endowment income spending rate. These spending adjustments have allowed us to invest more of our financial capital in the physical plant that is such an important University asset, and in the human and intellectual capital that lies at the heart of the University. The Bulletin is published weekly during the academic year, except during University breaks and exam weeks, by the Office of Communications, Princeton University, Princeton, NJ 08544.
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