Word: budgeteering
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Despite the better-than-anticipated returns, Tilghman said Princeton will proceed with its plan to reduce the school’s total operating budget by $170 million over this year and the next, and warned that additional layoffs would be needed this fall...
...goal in paring down the budget was to preserve the quality of the educational experience of our undergraduate and graduate students, so that no one 25 years from now would say that he or she attended Princeton at a time when opportunities were limited,” she wrote...
Like Harvard, Princeton has implemented salary freezes, halted capital projects, slowed faculty recruitment, and offered a voluntary retirement incentive program for hundreds of staff—initiatives that, along with other budget cutting measures, yielded an $11 million budget surplus last year that will be used to alleviate this year’s cost-cutting...
...committee had been primarily charged with cost-cutting to pare down the division’s budget—not including sponsored research and operations and maintenance—by roughly one-third. But the group’s goal soon changed from cutting back to balancing the budget by generating new revenue and “stretching what we have further,” according to Kosslyn...
Today, the undergraduate education working group—one of the two College committees—will meet for the first time as a separate entity to begin tackling the budget problem...