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...addition to the one-time injections of cash in the last fiscal year, FAS achieved a small unrestricted surplus from various savings measures—allowing FAS to grow its reserves by $58.6 million...
...meantime, it appeared Friday that Smith’s calls for cost-cutting measures last spring—when deficit estimates ran as high as $220 million over a two-year period—had paid some dividends...
...also pocketed about $12 million in additional revenues from various funding sources such as Extension School tuition—more than budgeted for the last fiscal year...
Speaking before an audience in the Science Center, Smith mentioned the anonymous gifts and told forum attendees that thanks to a combination of windfalls and budget trimming, the current fiscal year had seen its deficit already slashed by over $100 million from earlier projections...
...move that clarified why administrators have tamed fiscal messages of late after months of stressing the Faculty of Arts and Sciences’ impending financial deficit, FAS Dean Michael D. Smith delivered the news Friday that the school had posted a $58.6 million surplus in its unrestricted funds for the fiscal year that ended June 2009. The figure, released Friday in Smith’s Dean’s Annual Report, was balanced by a consistent emphasis that most of the gains were “the result of one-time events,” and that, as expected, much...