UNIVERSITY DEFICIT SMALLER THIS YEAR
Only $77,536 Behind as Compared With $338,000 in Previous Year--Total Expenditures Over Six Million Annually--Endowment Increased
The total annual cost of running the University is now over six million dollars, according to a bulletin issued yesterday by the University. The annual statement of the Treasurer, Charles Francis Adams '88, for the year ending June 30, 1922, shown that the total expenditure reached the sum of $6,045,-071.78.
The University incurred an operating deficit of $77,536.63 for the year. This deficit, however, is much smaller than that of the preceding year, when the University ran behind to the extent of over $338,000, and the University authorities are hoping that with the exercise of economy it can be wiped out in another year.
According to the report the endowment of the University on June 30 last had reached the sum of $52,958,336,62. This is an increase of more than four and one-half millions over the corresponding figure for 1921, which was $48,205,260.57. Of the increase, over one million dollars came through the payment of Endowment Fund subscriptions and more than a million more in the gift of the Rockefeller Foundation which made possible the creation of the School of Public Health.
The treasurer's statement is arranged this year according to a new plan designed to make more readily intelligible the division of income and of expenditure among the 37 departments of the University and among restricted and unrestricted funds. These 37 departments include Harvard College, the other regular departments of instruction, the Summer School, the various museums, the observatories, the chapel, the Library, the Harvard Union, Phillips Brooks House, the dormitories, the infirmary, etc.