In the face of a financial crisis, Harvard Athletics has deferred all capital projects and is considering other cost-cutting moves.
The UC voted to allocate $15,000 to student programming during Wintersession — the period marking the last 10 days of winter break — at its meeting Sunday.
“The hope is that the proceeds from the sale of that building will allow us to pay off a significant part of our debt," Medical School Dean George Q. Daley ’82 said.
Cambridge city councillors lauded a recently proposed $574 million city budget for the 2017 fiscal year that appropriated millions of dollars for projects in Harvard Square, and increased educational funding while holding property taxes relatively steady.
For the city's first participatory budget, Cambridge residents 12 and up will be able to vote on projects proposed by residents for city improvements.
Members of the committee that recommended controversial changes to Harvard’s non-union health benefits plan said it will likely change in the future.
Harvard’s small surplus is a move into the black after recent years of deficits large and small. The progress was largely fueled by the first public year of fundraising for the Harvard Campaign.
Eliot House Committee leaders agreed midday Thursday to allow their proposed budget to be published by the Undergraduate Council alongside other House committee budgets, but only after a tense back-and-forth.
The University will significantly restructure the benefit plans it offers to non-union employees, cutting premiums but introducing, for the first time, a deductible at the point of care.
The day before Undergraduate Council leaders plan to ask University President Drew G. Faust for $250,000 in additional funding, Interim Dean of the College Donald H. Pfister said that “it makes sense” to give the UC more money to fund student groups.
Harvard’s financial report for the 2013 fiscal year paints a picture of a University that has recovered significantly from losses suffered during the recent financial crisis but is still looking with anticipation to the Harvard Campaign for relief, if not for a complete solution to all financial difficulties.
With the Undergraduate Council’s budget constrained and its ability to fund student organizations increasingly limited, some club sports groups on campus have received less UC funding this year than expected and have had to make spending cuts or raise fees to adjust.
The Harvard Political Review released the Fiscal Year 2012 Annual Report of the U.S.A. last week, offering an analysis of the federal budget and challenges facing American spending policy. Coincidentally, the report was published just hours before Congressional leaders announced that they had hammered out a deal to end the federal government shutdown, which began on October 1. Flyby took a look at the numbers and decided that the best way to make sense of them was to put them in terms of three things we care about and think you probably do too—Ted Cruz, the Affordable Care Act, and the government shutdown.
Before today, I had never visited Boston. I’d been living within a two-mile radius—with Trader Joe’s as my southern border, the football stadium as my western border, and a jumble of Harvard buildings and community residences constituting my northern and eastern borders. I spent the majority of my time wandering through Cambridge. Although I kept trying to get lost, I always managed to find Mass. Ave. one way or another.
While the overall size of the faculty stayed virtually the same in FY 2103, the report notes that FAS conducted 73 tenured or tenure-track searches in the past year, the highest number since the financial crisis. In total 46 job offers were extended, 21 to women and 15 to minorities. Of those offers, 28 candidates accepted, nine declined, and the statuses of another nine are classified as pending.
As the Faculty of Arts and Sciences continues to chart tight budgets in the aftermath of the 2008 financial crisis, FAS Dean Michael D. Smith and his lieutenants are looking to the Harvard Campaign for financial relief, according to the Dean’s Annual Report for academic year 2012-2013.
Amidst a backdrop of national unease regarding the fiscal drama playing out in Washington, D.C., Cambridge City Council announced a free cash balance of slightly over $142 million in this year’s budget, a triple-A bond rating, and the minimizing of residential tax rates at Monday’s meeting.
Congressional lawmakers reached an eleventh-hour deal late Tuesday to avert the so-called fiscal cliff, largely postponing what will likely be far-reaching spending cuts expected to cost Harvard and other research universities millions of dollars in federal sponsorship.
Harvard sustained a small deficit of $4.5 million in the last fiscal year resulting from a 3 percent increase in University operating costs, according to the annual University Financial Report released Friday morning.