Report of the Treasurer


Fiscal year 2022 was a return to normalcy for Princeton University with respect to student enrollment, in-person learning, residential life and associated revenues and expenditures in the aftermath of the global pandemic. Net assets for the year ended June 30, 2022 decreased by $1.3 billion, or 3.2 percent, due to a small loss on investments combined with the endowment payout which funds operating and capital needs. With a backdrop of declining financial markets for the year, the return of -1.5 percent from the managed investment portfolio was consistent with other large university endowments. The University’s Endowment spending rate which is set at the beginning of the year, was 4.12 percent in 2022, and the payout per unit increased 4 percent under the University’s spending policy. As of June 30, 2022 the University’s Endowment Net Assets stood at $35.1 billion, a decrease of 5.1 percent for the year. A strong operating surplus in 2022 of $358 million, or 15.2 percent of total operating revenues, was achieved through a return to normal of student revenues combined with strong fundraising performance.

Reports of the Treasurer