For Harvard, a look at the financials
The Gazette recently sat down with Harvard Executive Vice President Katie Lapp and Chief Financial Officer and Vice President for Finance Thomas Hollister to talk about the University’s $5 billion budget and the 2018 fiscal year that concluded June 30. Highlights of the budget year included higher-than-expected revenue from continuing education and non-federal research grants, as well as higher-than-expected contributions, through The Harvard Campaign, to current giving, which goes into the annual budget for areas like financial aid. Harvard ended the year with a surplus, which the University’s top financial officers credited to budgetary discipline and better-than-anticipated revenue in some key areas. Lapp and Hollister praised the commitment to budget discipline by President Larry Bacow and the budgetary reforms installed under previous President Drew Faust. They also discussed the challenging higher-education landscape and cited Bacow, who in his inaugural address early this month said that universities have “been great at doing more with more,”...