Word: goa
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Dates: during 1990-1999
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...committee's central concern is with the General Operating Account (GOA), a University bank of sorts where Harvard requires its nine schools deposit all their non-endowment assets--a total of $1.676 billion in fiscal...
...committee also questions the prudence with which the center is investing the GOA--as well as the very advisability of the center relying so heavily on the investments for its income. It has now requested an annual report on the fund's performance...
...report notes that the central administration has undertaken its own review of the GOA, led by Vice President for Finance Elizabeth C. "Beppie" Huidekoper...
...GOA was created in the 1970s, and at the time, the administration did not invest the money but got most of its funding through fees assessed on the Faculties based on their sizes. Harvard began investing the account in the 1980s...
What this report underscores is that much more of center's funding comes from returns on investing the GOA than from these assesments...