Word: ksg
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Buoyed by the success of its international programs and cost-cutting measures, the Kennedy School of Government (KSG) balanced its budget last year—just one year after being blindsided by a massive $5.9 million deficit...
Though the KSG had initially projected a $2.9 million deficit for the fiscal year ending June 30 and had foreseen a deficit as large as $500,000 as recently as late May, the school has actually run a small surplus of $84,495, Dean Joseph S. Nye announced Monday...
...year’s deficit of $5.9 million, and the school implemented a wide range of cost-cutting measures designed to balance its budget—most notably eliminating 52 staff positions, closing the school’s Washington office and selling off real estate holdings in Cambridge. The KSG also increased its tuition and upped administrative charges on research grants and restricted gifts...
...school sold five parcels in the Cambridge area and retains title to three others, in addition to a University-owned building at 124 Mount Auburn St. And the KSG continues to explore divesting itself of those properties, hoping to consolidate in existing KSG and University space...
...KSG has made it out of its deficit, and Newman said the school has learned important lessons from the last crisis and would be in better shape to handle similar trouble due to improvements it has made...