Harvard’s changing financial profile
The University issued its annual financial report today, with a letter from Vice President for Finance Dan Shore and Treasurer James Rothenberg highlighting how Harvard’s financial profile “has changed considerably.” Shore and Executive Vice President Katie Lapp spoke with the Gazette about the ramifications of that changing profile. GAZETTE: What do you think should be the main takeaway from this year’s annual report? SHORE: We had a slight deficit, about $5 million on a budget of $4 billion. That’s not worrisome in and of itself. It’s the same type of deficit that we had last year. What is a matter of concern and what readers hopefully will take away is the pressure we feel on our main sources of revenue — the endowment payout, sponsored research, particularly funding that we get from the federal government, and tuition in the context of an economy that isn’t coming back as quickly as anyone would...