Word: kaufmann
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Dates: during 1970-1979
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...Robert E. Kaufmann '62, FAS associate dean for finance and administration, explains, a donor pays for a program or a tenured chair and gives enough capital to keep the program running each year. But inflation eats away at the value of the income from that capital year by year. Because Harvard remains committed to the program, the Faculty must move in and make up the difference. This erosion affects every endowed program and chair under the Faculty's wing, and more and more of the Faculty's unrestricted income--money it may spend as it wishes--becomes tied...
...Kaufmann and other Harvard administrators have indicated that if a close restraint were imposed on University tuition, the Faculty might have to make numerous budget cuts--including some substantial ones...
...However, Kaufmann said no specific cuts have yet been discussed, because it it not yet clear if Washington will closely limit fee increases...
...However, Kaufmann said, "it is quite possible that we could be allowed to set fees to 'balance the budget.'" He added that achieving such a balance would require a fee increase exceeding the range outlined by the guidelines. He added, however, that he doubts the federal government would permit an increase that would allow for a budget surplus...
...Kaufmann and other University officials said they felt the government would be tougher on wage guidelines, keeping Harvard close to the 7-per-cent ceiling outlined in Carter's program