The Washington University board of trustees has approved an additional one percent spending from the endowment, effective July 1. This increase, approved at the board’s meeting last week, follows an increase of the same size last year. Chancellor Mark S. Wrighton said he hopes endowment spending will continue to grow in years to come.

A nearly $800 million increase in Washington University’s endowment over the past fiscal year is allowing the University to allocate more funds to departments previously subject to significant budget cuts.

Washington University’s endowment grew by almost $800 million in the last fiscal year, officials said recently. The endowment totals $5.35 billion as of June 30, the end of the fiscal year. Chancellor Mark S. Wrighton said the increase is due to both the return on the University’s investments and donor gifts.

Last week, Student Union announced that it would be creating a student-faculty advisory committee that would give recommendations to the Washington University Investment Management Co. (WUIMC) about how to invest the endowment. This move was well-received by students.

Washington University approved a request for the school’s investment arm to receive student and faculty input on the social policies of companies it invests in. The Washington University Investment Management Co. (WUIMC) agreed to a student-faculty advisory committee that student leaders had proposed as a way to improve endowment transparency.

Washington University’s endowment started to recover from several years of loss by increasing nearly 10 percent last year. The gains by the University reflect a trend of increased endowment growth across U.S. universities. The endowment’s recovery is just one sign that the University’s financial situation is slowly improving.

Over $67 million has been raised toward Washington University’s $150 million scholarship initiative, “Opening Doors to the Future,” which began in March of 2009. The scholarship drive was intended, in part, to keep financial aid stable after many students’ financial circumstances changed following the economic collapse of 2009.

Student Life conducted an interview with Chancellor Mark Wrighton after the most recent quarterly meeting of the board of directors on Friday. The discussion involved a review of major events that occurred during the semester.

Student Union President Jeff Nelson talked to Student Life about a number of events within SU this week, including the passing of multiple “green” resolutions, the recent SU Executive resignations, and SU’s interaction with the University on its recent financial struggles, as well as new projects like an SU-funded system of grants for student initiatives. [...]

On Oct. 28, Student Life published an article discussing the recently formed student group called Washington University Students for Endowment Transparency (WUSET), a “New student group pushing transparency in endowment.” WUSET, acting in support of a group known as the Responsible Endowments Coalition, has begun to gain recognition on campus, claiming it promotes “responsible” investments.