Word: thebudgets
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...endowment income to run Harvard, in aneffort to take advantage of previous bull marketgrowth. Until now Harvard has reinvested the bulkof its endowment earnings--allowing the fund'spay-out rate to slip below inflation and usingother sources of income, such as tuition andfundraising, to fund a greater portion of thebudget...
...last year past $1.4billion. But in the past decade, tuition andfundraising have had to provide for a greaterportion of the budget compared to profit from theendowment. The percentage that the endowment paysfor dropped to a low of 26 percent for next yearwhile tuition finances more than half of thebudget...
...million pricetag for the debts onrenovation is also a thorn in the side of thebudget choppers. "The growing investment infacilities and renovations is a growing burden."The total facilities budget, which includes debtservice and building maintenance, climbed by 8.6percent to $18 million for next year...
...question remains whether Congress iswilling to raise revenue in other ways or cut thebudget unprotected by Gramm-Rudman...