ALLOCATION OF ADMINISTRATIVE FUNDING TOWARD PROFESSIONAL DEVELOPMENT FUNDING
(July 24, 2018)
50% of the funds allocated toward administrative expenditures each term shall be transferred and added to the Professional Development Funding allocation for the same term.
PROFESSIONAL DEVELOPMENT FUND
(March 30, 2011; replaces previous)
Each term, the maximum of $750 or 5% of the income shall be made available to fund professional development activities for individual undergraduate mathematics students. This funding will be awarded at the discretion of the Director, who will consult with Funding Council and the Board of Directors when appropriate. The Director shall report the disbursements of these funds to the Board of Directors at the next meeting. Further, the on stream Director may request a temporary increase from Funding Council if s/he deems it necessary.
RATE OF EXPENDITURE
(October 7, 2004)
MEF will continue to allocate funds for expenditure at a rate of 5% of the principal each year. This resolution will be revisited should the ongoing surplus of expendable funds be depleted.
STALE-DATING OF FUNDS
(November 20, 2007)
All funds awarded must be disbursed within one year following the end of the term in which they were awarded. Funds not disbursed by this time will return to the pool of unallocated income. Exceptions to this policy will be infrequent and must be approved by the on-stream Director.
(April 27, 2017)
There shall be an Executive Director of the Mathematics Endowment Fund, who shall be the current Endowment Director.
The Executive Director shall manage the daily operations of the Mathematics Endowment Fund including processing any claims for funding, communicating with applicants, and notifying the Board of Directors of any potential liabilities.