Word: sif
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Dates: during 2000-2009
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Planned spending from the SIF had assumed a long-term average growth rate of 8.25 percent on the endowment—a target that Harvard would fail to meet given this year’s endowment return, said University President Drew G. Faust in an interview last week...
...recent years, the University has assumed long-term debts to finance property acquisitions and development planning in Allston, to be paid for in part by funds from the SIF...
Last year, the SIF contributed $168 million toward projects such as land purchases, construction, and community benefits...
University Provost Steven E. Hyman said that after subtracting funds already pledged for interest payments and other expenditures, the cash flow from the SIF is all but accounted for, with little money, if any, left over for discretionary purposes...
...current status of the SIF—which University officials voted in 2005 to extend through 2031—contrasts with a misconception perpetuated among some faculty members that slowing down construction in Allston would create a “windfall” for other projects by freeing up SIF funds, Hyman said...