At its April 2025 meeting, the League board revised the Investment Policy to provide more funds for operating expenses each year. Prior to this time, we were able to withdraw up to 5% of the principal and interest each year. The revisions are in boldface.

The Withdrawal Policy now reads, “Each year, the LWVBN shall be authorized to withdraw interest, dividends, and other fund distributions as needed. If that is inadequate to support the operating needs of the League up to five percent of the total market value of the investments may be withdrawn (market value to be determine as of the last business day of the preceding fiscal year) for the organization’s operating purposes, as necessary. The dollar amount and timing of any distribution(s) from the investment accounts will be at the discretion of the Finance Committee.”

While some of our members see the current value of our investments in mutual funds and a bond fund and think we have loads of money to use, it would not be wise to dip into them deeply. This past year, we earned significant dividends and interest because of market appreciation. As an organization, we should seek to maintain the earning power that’s currently provided by the portfolio. The current volatility of the stock market also makes it imperative that we are cautious in how we use our investment income. In addition, we have very limited funding streams to replace funds that are used. This year would be a good time to consider a gift to the League so that we may continue our mission.

Deborah Shiffner, Finance Committee Chair