The amount made available for expenditure from the Association’s endowment in a fiscal year shall be a weighted average of:

• the prior year’s spending adjusted for inflation (weighted at 70%), and
• the trailing four-quarter average market value of the endowment as of the previous December multiplied by 5.5% in fiscal year 2016, 5.0% in fiscal year 2017, and 4.5 % in fiscal year 2018 and thereafter (weighted at 30%).

However, the spending rate must be at least 4.0% and not more than 6.00% of the trailing four-quarter average market value of the endowment as of the previous December.