Word: payout
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Dates: during 2000-2009
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...focused on their particular budget and want more money to be paid out,” Summers said last month. “But my sense is that the academic leadership of the schools shares the same view that the Corporation has—that we need to set payout in a way that maximizes what we are able to do on a sustainable basis...
Still, Summers said yesterday that slim payout increases in recent years should not be construed as a concerted effort to save for particular future projects...
...University has increasingly relied on payout to fund its annual budget. Ten years ago, endowment income accounted for just 21 percent of Harvard’s revenue, but by last fiscal year, that number had grown to 31 percent...
...Faculty of Arts and Sciences (FAS), where endowment payout now funds nearly half of the budget, the shift has been even more dramatic...
Still, as the endowment’s value has ballooned over the past decade—outpacing other sources of revenue, including tuition and federal research grants—the increasing reliance on payout has been seemingly inevitable. And with major capital projects on the horizon, the trend has little chance of abating...