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
Harvard Graduate Student Workers Strike
Union demands higher pay, protections for non-citizen members, and changes to the harassment complaint process.
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, Mitt Romney Warns Against ‘Authoritarian’ Presidential Power
The former senator touched on polarization, tech governance, and diplomacy during a conversation at the Institute of Politics.
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.
Harvard Weathers a Year of Turmoil
The federal government has launched unprecedented actions against the University. Here’s a guide.
For This Poet, AI is a Writing Partner
Sasha Stiles trained a chatbot on her manuscripts. Now, her poems rewrite themselves.