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...Faculty of Arts and Sciences has reduced its deficit to $80 million, signifying a drop that FAS Dean Michael D. Smith credited at yesterday’s Faculty meeting to alumni donations, improvements in the international financial market, and last year’s cost-cutting measures...
...open forum last September, Smith said that FAS would seek to reduce its deficit to $90 million for the fiscal year ending in 2010—a planned decrease of $20 million that the administration has exceeded by $10 million, according to its most recent estimates...
...last academic year, Smith urged FAS departments and administrative units to cut their budgets by 15 percent. The Faculty also underwent a litany of budget-saving measures—such as a temporary freeze on faculty hires, a decrease in funding for food and office supplies, and growing reliance on the work of fewer staffers, after 531 accepted an early retirement package...
Along with the slew of budget cuts announced in May, Smith announced the creation of six working groups across FAS to produce budgetary recommendations for the upcoming fiscal year...
Some of the cost-saving measures are ongoing. In November, Smith said that he was seeking to reduce the size of the faculty through attrition, and two months ago FAS offered the first retirement program in the school’s history, enabling more hiring flexibility...