As colleges and universities attempt to navigate today's challenging economic environment, they are increasingly relying on their endowments to fund operating costs. That sometimes means spending beyond their endowment's spending policy guidelines, which presents a difficult dilemma: How do they serve present needs yet also safeguard the institution's long-term financial sustainability? In this podcast, AGB's David Bass speaks with Cambridge Associates' Tracy Filosa about the balance that institutional leaders must strike between, on the one hand, meeting current demands and, on the other, ensuring that adequate resources will be available for future generations of stakeholders.

Opinions expressed in AGB podcasts are those of the speakers and not necessarily those of the organizations that employ them or of AGB.