Word: smithing
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...Faculty of Arts and Sciences has reduced its deficit to $80 million, signifying a drop that FAS Dean Michael D. Smith credited at yesterday’s Faculty meeting to alumni donations, improvements in the international financial market, and last year’s cost-cutting measures...
...open forum last September, Smith said that FAS would seek to reduce its deficit to $90 million for the fiscal year ending in 2010—a planned decrease of $20 million that the administration has exceeded by $10 million, according to its most recent estimates...
...actually very pleased,” Smith said yesterday. “Several times I had to ask Leslie [A. Kirwan ’79, FAS Dean for Administration and Finance], ‘Really...
Despite the good news, Smith said that much remains to be done to close the remaining $80 million deficit—an obstacle he called “huge”—and that the strategy for making cuts will be “relatively unchanged” from last year...
...most recently endowed funds, which had fallen in value to less than the amount bequeathed by the donor and are considered “underwater.” Though the law’s passage arrived too late to help in last year’s budgeting process, Smith said FAS may tap into those funds this year...