Word: kaufmann
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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...
...College pulled through the mid-'70s by raising tuition and cutting corners, and now it has no choice but "to moderate further tuition increases through a new burst of capital," Kaufmann says. Although Harvard has not been "cavalier" about passing increased costs on to students, as Kaufmann puts it, the University has recently come to depend more and more on income from students...
Renovating the Houses. During the '70s the Faculty skimped on building maintenance to try to hold down costs, Kaufmann says. The drive provides for work on housing to the tune of about $12 million...
...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