The Faculty of Arts and Sciences has cut down its deficit to $80 million, which amounts to a $30 million decrease since FAS Dean Michael D. Smith announced in September that the University’s largest school had cut half of its projected deficit, according to a high-ranking FAS administrator.
Faculty of Arts and Sciences Dean Michael D. Smith delivered a notably optimistic financial outlook for FAS yesterday, though the University’s largest school faced a projected $110 million annual deficit as of Sept. 15.
The Faculty of Arts and Sciences and four of the University’s professional schools offered a voluntary retirement program yesterday to eligible members of their faculties, marking the culmination of months of planning initiated by the fiscal troubles of the last academic year.
The Faculty of Arts and Sciences and four of the University's professional schools offered retirement plans to members of their faculty earlier today, marking the realization of an idea that surfaced when it became clear last fall that the University's endowment would be hard-hit by the financial crisis.
In a move that clarified why administrators have tamed fiscal messages of late after months of stressing the Faculty of Arts and Sciences’ impending financial deficit, FAS Dean Michael D. Smith delivered the news Friday that the school had posted a $58.6 million surplus in its unrestricted funds for the fiscal year that ended June 2009.
The Faculty of Arts and Science held an open discussion to update the name of the Harvard Extension School at yesterday’s Faculty meeting in an effort to align the name with that of peer institutions and with the century-old program’s current mission.
Christine C. Ciotti, the Harvard School of Public Health’s head of human resources, has been named the Faculty of Arts and Sciences’ new Associate Dean for Human Resources, effective Nov. 9, FAS Dean Michael D. Smith announced in an e-mail to staff yesterday.