Word: goa
(lookup in dictionary)
(lookup stats)
Dates: during 1990-1999
Sort By: most recent first
(reverse)
Committee members said their concern with having the GOA fund most of the center's activities is that it lessens its accountability to the faculties because the center does not have to justify the extra money it spends to the faculties...
...committee's central concern was with the University's General Operating Account (GOA), an internal bank of sorts where Harvard requires its nine schools to deposit their working capital--a total of $1.676 billion in fiscal year '96. The central administration, in turn, invests the funds which are not immediately needed and uses these profits to cover about 47 percent of its budget, by far its largest income source...
When Vice President of Finance Elizabeth C. "Beppie" Huidekoper took office two years ago, she also had concerns about the account and hired Cambridge Associates, a local consulting firm, to analyze the GOA. The firm recently issued a three volume report which Harvard officials are reviewing...
About $32.3 million of the central administration's budget comes from direct assessments on the faculties--a fee equal to 6.75 percent of a given faculties' salaries and a portion of their research overhead--while $39 million comes from investment of the GOA...
...University Assessment, which requires each faculty to pay an annual fee of 6.75 percent of its salaries to the center; $9 million from the University's share of research overhead from the federal government; $11.7 million from miscellaneous fees and expenses, and $39 million from interest on the GOA...