Word: payouts
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...small salary increase is consistent with this year’s uncharacteristically low endowment payout, and the ongoing staffing reductions across the University. Given this grim context, salary negotiations for faculty may operate under the shadow of financial strain for the next several years, according to Mendelsohn...
...said that the Harvard Corporation’s low endowment payout, the static rate of subventions, or grants, from FAS, the rising costs of acquisitions and the recently increased fringe benefit rate have all contributed to HCL’s significant budget deficit...
...added that prospects for fiscal year 2005 budget are grim, as the endowment payout is likely to remain low while fringe benefit rates will continue to rise...
With the University now vastly richer than ever before, one would think the place would bristle with new benefits for students. This would require an increase in the annual payout from the endowment, approximating its recent long-term gain in value, but that’s something Harvard has not done in recent years...
...explained, is heavily dependent upon endowment, and so the low increases in payout of recent years have meant stresses on the library’s budget...