Word: fiscal
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...addition to the one-time injections of cash in the last fiscal year, FAS achieved a small unrestricted surplus from various savings measures—allowing FAS to grow its reserves by $58.6 million...
...also pocketed about $12 million in additional revenues from various funding sources such as Extension School tuition—more than budgeted for the last fiscal year...
Speaking before an audience in the Science Center, Smith mentioned the anonymous gifts and told forum attendees that thanks to a combination of windfalls and budget trimming, the current fiscal year had seen its deficit already slashed by over $100 million from earlier projections...
...report, Smith wrote that the administration should avoid spending all of the surplus accrued over the last fiscal year, and stressed the importance of aggressive fundraising, especially for unrestricted, current-use funds. He also reiterated what has become a continual note of caution—that FAS should be careful to only hire faculty and staff with the assurance of long-term funding...
...must whittle down its expenses after the endowment lost $11 billion—30 percent of its value—this past year. The Harvard Corporation slashed its endowment distribution to FAS by 8 percent for the fiscal year ending July 2010, and is planning to cut another 12 percent the year after, University President Drew G. Faust said at an October Faculty meeting...