Word: payoutã
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...April, Smith unveiled “reshaping”—a general charge to implement broad structural changes that have yet to be determined. The news came a few weeks after the University announced in mid-March that the endowment payout??the school’s chief source of revenue—would fall by more than 15 percent over the next two years. “Reshaping” had replaced “resizing” (what happened to the coffee at afternoon meetings) as the new buzzword. The concept arose organically from University...
...will lay off staff members in response to budgetary constraints imposed by University administrators, acting Dean Howell E. Jackson said Monday. The likely layoffs come amidst continued estimates of a 30 percent decline in endowment value by year’s end and a corresponding reduction in the endowment payout??a major source of funding for the University’s different schools that accounts for 40 percent of the Law School’s annual revenue. A recent University request for a 10 percent reduction in the Law School budget has made staff layoffs inevitable...
...response to guidance from the University, several of Harvard’s schools are planning for a decline in endowment income for the next fiscal year, according to University administrators interviewed this weekend. Earlier expectations had been for a flat payout??or the same dollar amount in endowment income as last year—a School of Public Health spokesperson wrote in an e-mail. The Harvard Corporation, the University’s highest governing board, has yet to set next year’s endowment payout rate—a figure generally announced in December?...
...former president’s solution was what came to be known as a “strategic payout?? by which schools within the University were allowed to come to the president and the Harvard Corporation with proposals to increase expenditures to pay for their priority initiatives...
...Certain projects at the schools will also be eligible for an additional six-percent increase—an “incremental payout?? intended to fund strategic initiatives...