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Cuts based on proposals submitted by departments and centers in January could make up approximately 77 percent of the $100 to $130 million shortfall in expenses for the next fiscal year, FAS Dean Michael D. Smith said yesterday...
Smith said he will not publish specific department or center cuts to avoid any “premature or uninformed” announcement, but he reiterated his commitment to cut expenses by 15 percent across FAS over the next few years...
Though the administration is projecting a higher spending level in the mid-six percent range—up from 4.6—for this year and next, according to Smith, even a far higher rate could mean flat or even reduced overall payouts from the endowment, depending on its value at the end of the fiscal year on June...
Harvard’s endowment has already dropped an estimated 22 percent from its June 30 value of $36.9 billion as of Oct. 31, and administrators have repeatedly said to plan for a 30 percent fall in value by the end of the fiscal year...
...Graduate School of the Arts and Sciences will reduce its number of accepted Ph.D. students by nine percent. Approximately 600 to 610 Ph.D. students—as opposed to the 660 accepted last fall—will be accepted for the next academic year, GSAS Dean Allan M. Brandt said...