RESOLUTION TO APPROVE RECOMMENDED

REBALANCING OF LONG-TERM INVESTMENT

POOL TARGETS AND RANGES

WHEREAS, the University’s Asset Allocation Guidelines prescribe a set of

targets and allocation ranges for long-term asset classes, including equity, fixed

income and cash; and

WHEREAS, the University’s investment advisors, Hartland & Co. have

recommended changes to said targets and ranges as a way of rebalancing the

University’s long-term investment portfolio; and

WHEREAS, the recommended changes are consistent with the University’s

long-term investment strategy.

NOW, THEREFORE, BE IT RESOLVED, that the Board of Trustees of

Youngstown State University does hereby approve the recommended targets and

allocation ranges per the chart below.

Allocation

Asset Class / Investment Strategy Pool Target % - pool % Total

Total Domestic Equity 27% 0 - 35%

Total International Equity 8% 0 - 15%

Total Equity 35% 0 - 45%

Total ST Fixed Income 40% 35 - 55%

Total Int. Fixed Income 25% 20 - 40%

Cash 0% 0 - 5%

Total 100% 100% 50 - 75%

Long-Term / Reserves Pool

Board of Trustees Meeting Agenda Item E.3.f

March 12, 2014

YR 2014-