Facing a $25 million deficit, Stanford University implemented a salary freeze for staff and faculty. Duke University made headlines by suggesting that it may cut 50 faculty positions. And public universities have been hit by tremendous budget cuts as states work to close multi-billion dollar deficits.

But so far, the ill effects of the economic downturn have landed a softer blow in Cambridge.

With few exceptions, Harvard will continue its ambitious expansion plans undeterred. Buildings keep springing up and faculties are growing.

And planning for long-term priorities, like the University’s new campus in Allston or biomedical initiatives, has if anything accelerated in the past year.

Dean of the Faculty William C. Kirby has committed to see through all current building projects as well as a spate of other major initiatives currently in the works.

“We aim to do all this, and more, as we enter a period of greater financial constraint,” he wrote in his annual letter to the Faculty. “We must and we will be ambitious.”

All this despite the fact that income from the endowment will remain nearly constant for a second consecutive year and fundraising is down overall.

Most schools are focusing on trimming administrative expenses to weather the storm.

Vice President for Finance Ann E. Berman said schools have implemented measures including “hiring freezes, rebudgeting within programs, delays in new initiatives [and] delays in planned construction projects” to address budgetary concerns.

“I think we will see more of that in the coming year,” she wrote in an e-mail.

So far, the approach has proved successful.

Only a few of Harvard’s smaller schools—including the Kennedy School of Government (KSG) and the Graduate School of Education (GSE)—will run deficits for the current fiscal year. And the KSG, at least, projects a balanced budget for next year.

But without careful oversight, many other schools could soon be on the rocks.

Planning for Prosperity

Many University initiatives and projects are continuing full steam ahead.