Word: taxed
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...finances—the university’s endowment valued at $17 billion as of June 2008 is expected to suffer at least a 30 percent decline—but Hennessy earned roughly $700,000 in salary and benefits in fiscal year 2007 according to federal tax filings...
Harvard’s tax returns for the fiscal year ending June 30, 2008, detail over $4 million in compensation for top administrators, a figure likely to draw close scrutiny over the coming months, as the University implements deep budget cuts...
According to the tax filings, University President Drew G. Faust took home $775,043 in salaries and benefits her first full year on the job, with $640,000 in cash compensation, $81,304 in moving and other expenses, and $53,739 in benefits. It is the first time Faust’s compensation information has been made available; University spokesman John D. Longbrake declined to release her salary in her previous post as dean of the Radcliffe Institute for Advanced Study...
...tax returns also reveal a small salary hike for University Provost Steven E. Hyman, who served in the same position under Summers, compared to his raise last year. One of the three oft-mentioned internal candidates for the presidency at the time, Hyman was asked to stay on as Faust’s deputy in 2007—and received a 19 percent boost in total compensation, from $479,819 to $570,265, the next year in today’s dollars...
Even if the controversial budget measures pass, state officials say California must still trim $15.4 billion from its budget. If the propositions fail, as the polls portend, Schwarzenegger says the necessary cuts climb to more than $21 billion. (His proposals do not include tax increases. The governor and legislators already filled a $40 billion budget hole in February in part with $12.8 billion in temporary tax hikes...