Word: terme
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...every student, faculty member, and alum is aware that the global financial calamity has influenced every component of University finances: endowments, private philanthropy, and gifts from cash-strapped foundations. While stimulus funds have temporarily swelled the budgets of federal science agencies, the long-term picture for government funding is hazy at best, and may fall victim to deficit-cutting two years from now. Within Harvard, the deans and central administrators have had the unenviable task of cutting budgets in order to match our expenses to our newly constrained resources. We have all spent many hours since October engaged in these...
...deans are also keenly aware that we must be strategic, protecting essential investments, such as financial aid, and even growing in a small number of critically important areas. Indeed, several University-wide committees have been focused on how we can make Harvard stronger in priority areas in the near term, albeit with smaller investments than we would make in other times. These committees, made up of faculty members and deans, include the Harvard University Committee on Science and Engineering, the University Planning Committee on Social Sciences, and the University Library Task Force...
...Budgetary projections will likely influence Faust’s thinking on the importance of appointing a candidate who can immediately manage the budget—if endowment managers project that spending will be constrained in the long term by disappointing endowment performance, then administrative capabilities are likely to weigh more heavily in her decision, Tushnet says...
...extent that the President is interested in someone with a long-term vision, it’s not clear to me that he does have that,” Tushnet says. “It’s not clear that that is an important consideration, but if it is an important thing, then it’s an obstacle...
...might have some short-term needs based on our fiscal climate that we absolutely have to address,” Nelson says. “But we have long-term commitments to the Houses...