Word: fiscal
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...current $20 million deficit for this fiscal year is significantly less than the $130 million that Smith had projected in April...
During the open forum—which will be held from 3:30 to 5:00 in Science Center B, with an adjacent lecture hall reserved for overflow—Smith will discuss “the positive financial results” from the last fiscal year and take questions from the audience, he wrote in an e-mailed statement sent to faculty and staff last Tuesday...
Smith said he will begin today’s meeting with a preview of the annual Dean’s report, which will survey FAS’ financial data for the fiscal year ending June 30, 2008. The report—whose release had been delayed from this past spring to early October—will outline information concerning FAS finances for fiscal year 2009 as well, Smith said at a May faculty meeting...
Last week, excitement over a spate of good weather was tempered by the announcement that, in the last fiscal year, Harvard’s endowment plunged 27.3 percent. Its total value fell approximately $11 billion to $26 billion, a loss greater than the total endowments of all but three other universities in the country. This sobering news highlights the fact that some mistakes were made in Harvard’s investment strategies, prompting a need to reconsider the way we manage our money...
...said, it would be naive to move into an overly conservative strategy in the wake of the losses of the past year. HMC managers were extraordinarily successful before 2008, and one bad year should not collapse our faith in their investment acumen. In the 10-year period ending in fiscal year 2008, the Harvard endowment outperformed the median institutional fund by 7.7 percent per year. Had it earned the median institutional fund rate, endowment assets would have been $23.5 billion less. Moreover, Harvard’s money czars are far from alone in their shortcomings this year. Yale?...