Word: payout
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Dates: during 2000-2009
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...Harvard Corporation, the University’s highest governing body, voted on Nov. 7 to approve a five-percent increase in base payout for the next fiscal year, which begins July 1, 2007. While the start of fiscal 2007 is more than six months away, the University announces the increases early to allow schools to plan their budgets...
...practice of providing certain projects with further increases was first implemented in the current fiscal year, 2006. This year’s incremental payout is being used, in large part, to fund additional faculty and increases to financial aid, wrote Vice President for Finance Ann E. Berman in an e-mail last night...
...After its introduction last year, the incremental payout appears to be here to say. According to the Corporation’s preliminary guidance on payouts for the next few years, released yesterday, the University will offer incremental payouts at least through...
...guidance for the Corporation calls for annual increases to base payout of four percent in fiscal years 2008, 2009, and 2010. Schools will see incremental payout increases in those years of four percent, three percent, and two percent, respectively...
...letter distributed to administrative and financial deans at Harvard’s schools, provided by Berman, said that the recent years’ increases to endowment payout had not kept pace with the University’s soaring investment returns. Investment returns were up 19.2 percent last fiscal year, growing the endowment to a mammoth $25.9 billion. Harvard earned a 21 percent return the previous year...