University Finances
Reporting on Harvard’s budget, endowment, and financial strategy.
Harvard Layoffs Continue, with More to Come
In the wake of federal government actions, several Harvard schools and institutes are cutting costs.
by Jonathan Shaw
Yale Estimates 25 Percent Endowment Decline, Phases Budget Cuts
Yale disclosed the impact of the financial markets on its endowment, and outlined a series of phased budget-cutting measures.
Government and Medical Schools Pursue Cost Cutting
Harvard's government and medical schools are pursuing cost reductions of up to 10 percent in next year's budget.
Faculty Seeks $100-Million to $130-Million Cost Cuts, Slashes Searches
The Faculty of Arts and Sciences has outlined large cost cuts, even after freezing salaries and slashing the number of faculty searches it will authorize.
FAS Details Debt, Financial Challenges
The Faculty of Arts and Sciences has detailed its debt, spending, and other financial challenges as it prepares much leaner budgets in light of the sharp decline in Harvard's endowment.
Endowment Declines 22 Percent through October 31
Harvard's endowment declined 22 percent through October 31, so the University is responding with budget reductions and a new financial strategy of substantial borrowing to maximize flexibility in light of uncertain market conditions.
Dean Outlines FAS’s Financial Straits
Dean Michael D. Smith outlined for the Faculty of Arts and Sciences the severe challenges—as much as a $200-million shortfall in revenue—looming in the next year as the endowment declines in value.
Endowment Issues: Each School's Exposure
Each Harvard unit is exposed to declining endowment values, but to different degrees; the schools' exposures are detailed, using University data, and FAS's dean writes to his faculty about an unprecedented financial squeeze.
"Harvard Is Not Invulnerable" to Shocks: Faust's Sober Financial Message
President Drew Faust today e-mailed a letter to faculty, students, and staff, highlighting the "extraordinary turbulence still roiling the world’s financial markets and the broader economy."
University Endowments: The Gathering Storm
A look at Harvard’s reliance on endowment income to fund academic operations; the news from other academic institutions; and the composition of the endowment
Endowment Edges Up in a Down Year
Harvard’s endowment grows in fiscal year 2008 by $2.0 billion, or 5.7 percent, to $36.9 billion.