Since the House of Representatives has passed the Tax Cuts and Jobs Act, and the Senate is beginning to debate its version of this tax reform legislation, we want to provide the Washington and Lee community with information on three of the ways that this legislation, as currently formulated, could impact the university.
Messages from the Treasurer
Steve McAllister, treasurer and vice president for finance, held the annual Town Hall Meeting on the Budget on March 30, 2017, and presented the community with the 2017-18 Operating Budget and Parameters.
Outside of Lexington, questions about large university endowments resurfaced this year on Capitol Hill, with two congressional committees asking colleges and universities with endowments larger than $1 billion, including W&L, for information about how they manage their endowments and spend endowment funds.
In this series of videos, Steve McAllister, W&L's treasurer and vice president for finance, answers common questions about W&L's endowment.
In February 2016, Washington and Lee University was one of 56 private colleges and university throughout the nation that received a joint letter from the Senate Committee on Finance and the House Committee on Ways and Means requesting information about endowments. This letter, sent to the institutions with endowments of $1 billion or more, requested wide ranging information about how the colleges manage their endowments and spend their endowment funds.
Steve McAllister, treasurer and vice president for finance, held the annual Town Hall Meeting on the Budget on April 14, 2016, and presented the community with the 2016-17 Operating Budget and Parameters.