By the Numbers: Budget Cuts

We all know cutting hot breakfast sucks, but FM figures out exactly just how much it sucks.

It’s no secret that Harvard has been struggling financially due to the recession—University Hall’s endowment woes (and resulting budget cuts) have come under constant scrutiny not only by The Crimson, but also by national newspapers such as The Boston Globe and The New York Times. But just in case you’ve been living under a rock for the past few months, FM has gathered some stats on the recession’s effects on Harvard, ranging from the obvious to the surprising to the potentially infuriating. Just remember: regardless of what our endowment is and what our administrators get paid, there is “a wealth of intellectual opportunity within this university.” Yeah, thanks, President Faust.

Drop in Harvard’s endowment between June 2008 and June 2009: $11 billion

Number of countries in 2008 with nominal GDPs smaller than $11 billion, according to the World Bank: 68

Amount of liquid cash holdings, typically used only for daily expenses, lost due to risky investments: $1.8 billion

Years for which $1.8 billion could have continued to pay for hot breakfasts: 2,000

President Drew G. Faust’s total compensation, up $17,009 since Larry Summer’s final year: $775, 043

Provost Steven E. Hyman’s total compensation, up $90,446 from previous year: $570, 265

Number of employees laid off in June 2009: 275

Amount of raises and bonuses to be accrued by faculty and non-union workers in 2010: $0

Voluntary pay cut of Stanford’s top administrators this year, including the President and Provost: 10%

Increase in Provost Hyman’s salary from previous year: 19%

Drop in payroll for teaching staff this year: $2 million

Number of sections reduced due to a drop in hiring for TAs/TFs: 450Target class size for sections this year, up from last year’s average of 13: 18

Minimum fine, up from $75, for all lost library books and materials in the Harvard College Library, which includes Widener, Lamont, and Houghton. A new $10 “non-refundable billing fee” will also be added per item: $100

Average price for a hardcover fiction book in 2008, according to the School Library Journal. The average price for a hardcover nonfiction book in 2008 was $25.38.: $27.47

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