University News
Breaking developments, leadership announcements, and policy changes from across Harvard’s schools and administration.
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
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.
In the Black
A summary of the Harvard University Financial Report for fiscal year 2008
Shore Appointed Vice President for Finance
Edward C. Forst, executive vice president, announced that Dan Shore, who has been acting vice president for finance since May...
Financial Crisis: Confidence—and Some Cautions
This post summarizes the October 13 panel discussion on "Leadership for the Twenty-First Century," moderated by journalist and television host Charlie Rose and a pair of addresses on globalization...