EVP Forst to Leave Harvard
Updated May 28. Executive Vice President Ed Forst, who joined Harvard last fall and helped shape the University’s financial strategy, is returning to New York.
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Harvard Finances
Faculty of Arts and Sciences Details Initial Budget Cuts
The Faculty of Arts and Sciences gave some details of initial efficiency measures—one-third of the savings it must effect.
5.11.09
FAS Dean Details $220-Million Budget Gap; Working Groups to Address "Reshaping" Academic Activities
At a “town hall” meeting for Faculty of Arts and Sciences professors, staff members, and students, Dean Michael Smith outlined daunting financial challenges, even after modest budget savings already effected and larger ones planned for the next academic year.
4.14.09
"A New Economic Reality"
The University’s financial gap measures in the hundreds of millions of dollars.
4.10.09
Financial Update: Harvard Retains Triple-A Rating, Princeton Foresees Deeper Cuts
In affirming Harvard’s credit rating, Moody’s detailed recent and current financial challenges; Princeton, in the meantime, adopted a more pessimistic outlook on its finances and reined in its budgets further.
4.8.09
Endowment Distribution to Be Reduced 8 Percent; Budget Cuts Loom
Distributions from the endowment will be reduced 8 percent in each of the next two fiscal years; that action sets the stage for significant budget cuts.
3.19.09
Stanford Imposes Deeper Cuts, Too
Updated. Citing the deepening economic and financial crises, Stanford has decided to make deeper expense cuts in the next fiscal year; Yale recently imposed deeper cuts, too.
3.9.09
In the Hole
Harvard assesses the feasibility of completing capital projects now under way, and the timing of other parts of its institutional master plan.
3.1.09
The Fiscal Crunch
Harvard and its schools are preparing for broad and potentially deep cost reductions.
3.1.09
Energizing the Local Economy
An update on the University’s financial contribution
3.1.09
Citing Recession, Yale Makes Deeper Cuts
Yale has announced a second, deep set of austerity measures; its reasons for doing so may cast light on the financial choices confronting Harvard.
2.25.09
Faust: University Will Slow Pace of Construction in Allston
Harvard will continue construction through 2009 while examining its options, which include pausing construction entirely.
2.18.09
Early-Retirement Program and Other Cost-Cutting Measures
The University unveiled incentives for staff members to retire early, and the president and Faculty of Arts and Sciences dean discussed other pending financial measures.
2.11.09
Harvard Management Company Reduces Staff 25 Percent
In the wake of sharp declines in the endowment, Harvard Management Company’s new leadership is reducing staffing.
2.6.09
Princeton Details Endowment Results and Spending-Reduction Plans
Princeton has detailed a prospective 25 percent decline in its endowment and resulting restraint in its operating and capital budgets—in line with the steps taken by Yale, and indicative of the actions Harvard administrators may formulate.