Dean Michael D. Smith reported on May 11, at the last regular Faculty of Arts and Sciences (FAS) meeting of the academic year, that the faculty’s unrestricted operating deficit for the fiscal year beginning July 1 had been reduced to between $50 million and $55 million. This is significantly better than the $110-million gap he projected last September, and the $80-million figure as of this past February. By the time FAS’s budget is submitted to the Corporation for approval, Smith said, he hoped to trim it further, to perhaps $35 million. He aims to fill that remaining gap with FAS reserve funds, and then to achieve a balanced budget for fiscal year 2012--assuming no worsening of economic conditions, and a flat distribution from the endowment (following 8 percent and 12 percent reductions, respectively, in the 2010 and 2011 fiscal years). For a more detailed report, see https://harvardmagazine.com/breaking-news/harvard-arts-and-sciences-budget-cuts.
FAS deficit, diminished
FAS deficit, diminished
The Faculty of Arts and Sciences faces a smaller, but still multimillion-dollar, deficit.
You might also like
Boston Board Approves Harvard’s Enterprise Research Campus Framework
City planners adopt principles to guide future development of the commercial innovation district in Allston.
At Harvard Talk, Retired Supreme Court Justice Breyer Defends Shadow Docket
The current law professor also spoke about affirmative action, partisanship, and the limits of “bright-line rules.”
Harvard Alumni Honored for University Service
The 2026 Harvard Medal recipients will be honored on June 5.
Most popular
Explore More From Current Issue
We’re All Harvard Influencers, Like It or Not
In the digital age, it’s hard to avoid playing into the mythology.
How to Cook with Wild Plants
From wild greens spanakopita to rose petal panna cotta, forager and chef Ellen Zachos makes one-of-a-kind meals.
