Word: payout
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...budget challenges caused by the decline in the endowment payout have forced us to take this action," Ellwood wrote, noting that a projected 20 percent reduction in the payout over the next two years, combined with other revenue declines, created a $9 million shortfall in the School's budget...
...projected $220 million annual deficit by fiscal year 2011. Recent cuts account for only $77 million of that total, which FAS Dean Michael D. Smith says must be eliminated over the next two years.The budget shortfall is the result of an anticipated $125 million reduction in the payout from the University's endowment to FAS by fiscal year 2011, as well as various expenses and structural deficits that have been exacerbated by faculty hiring and capital expansions in FAS earlier in the decade, according to a recent report in Harvard Magazine, which cited statements from Smith.The library system has already...
...massive bomb ripped through the market town of Omagh in Northern Ireland, killing 29 people, relatives of the victims have finally received some justice. On June 8, a high court in Belfast awarded $2.6 million in damages to the six families who filed a civil suit--a hefty payout by British standards and a major legal victory. Earlier criminal cases against four members of an IRA splinter group accused of the bombing had ended with only one conviction (which was later overturned). Under the looser standards of proof in civil cases, the court held the four men responsible for setting...
...million awarded in Monday's judgment falls well below the $15 million sought by the victims' families, and it remains unclear if the Real IRA's financial assets will be sufficient to cover the payout, meaning the sums that are finally awarded to the victims' families could be significantly less. (Read "Could It Happen Again...
...union’s membership, the news was particularly bleak—FAS relies on endowment funding for over half of its annual budget, third-most among the University’s 11 schools. “A bad day,” Jaeger calls the date when the payout decision was announced. In fact, it was probably more than that: the first clear signal of how difficult it would be for HUCTW to ensure that its members would escape the financial crisis unscathed...