Word: payouts
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...Each year, money from the endowment—the University’s war chest—is disbursed to all of Harvard’s schools. Along with tuition, sponsored research, and other sources, the payout is a component of the schools’ operating revenue each year...
...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...