In the affluent days of Harvard, say the 1960's when lots of government money was coming into the Faculty and professors were in great demand in the outside world, the Faculty could afford to be lavish in everything it did. Times have changed, however, and if Dean Rosovsky's annual budget letter is any indication, a little belt-tightening is in store for next year.

According to the budget letter, the Faculty will attempt to balance its budget for 1976-77 and reverse a seven-year trend of deficits by reducing severely its expenses in non-teaching areas.

Though the report says it "is inevitable" that tuition will rise for next year, the main thrust of the budget balancing will be to cut back in four areas, which are:

* Faculty support services and staff reducing the number of administrative and research posts by normal attrition;

* Subsidies the Faculty gives to operations running deficits--this would include eliminating subsidies for University parking, the Faculty Club, tutors and proctors meal pools and the Harvard Student Agencies;

* Energy expenses stemming from the present academic calendar; and, rents paid for non-Faculty-owned space.

But all these recommendations for reducing expenses still leaves unanswered the question around which the whole budget letter revolves: how effective these measures will actually be?

By eliminating subsidies, the administration is expecting individuals to shoulder more of the Faculty's expenses. As one administrator put it, "We've all been used to a pretty affluent life here, and even though people won't like it, we have to get used to these changes."

What this means is that parking spaces will double in cost with few exceptions, Faculty Club meals will cost much more and a system of open membership there with dues last used in the 1950's may be reinstated, and departmental frills--luncheons, unlimited xeroxing, telephones, equipment, supplies and travel expenses--will be severely reduced.