Word: corporationã
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While finance officers across the University said they were not surprised by the Corporation??s warning, they said it will put further stress on already tight budgets as costs rise and revenue stays stable...
According to Dan Shore, a member of the Office of the Vice President for Finance, the Corporation??s warning was guided by “recent market trends”—namely, declining endowment value. The University’s holdings decreased in value from a peak of $19.2 billion in 2000 to $17.5 billion as of last July, the last date for which figures have been released...
Harvard Management Company President Jack Meyer, who manages Harvard’s endowment, said the Corporation??s current conservatism is probably due to the sagging economy and its toll on the endowment...
Meyer said that whether the current streak of low payout raises continues will depend on macroeconomic performance and the Corporation??s assessment of current University needs...
...Corporation??s planned move will “put more pressure on what we charge for tuition,” Upson said, adding that the blow will be somewhat softened by fiscal reserves accumulated during the prosperous 1990s...