Word: budgeting
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Today, Russia's finances look a lot less robust. The government budget was based on oil at $70 per barrel, way above the current ? level, and it will consequently swing into deficit next year for the first time since 2001. The stock market has dropped more than 70% in the past year, as the nation's business élite dumped stocks to repay the huge loans they took out to finance acquisitions in Russia and abroad. Capital is fleeing - investors have pulled about $190 billion out of Russia since August - and the ruble is under pressure...
...Harvard’s schools debate budget cuts, Allston residents face the possibility that funds previously reserved for the University’s expansion plans could be diverted to yet-to-be-determined projects. Since 2001, the strategic infrastructure fund—a 0.5 percent levy on the endowment of all of Harvard’s schools—has set aside money for financing projects in Allston. The fund contained $140.5 million as of 2007, according to Harvard Magazine. But in light of considering departmental budget cuts of 10 to 15 percent, faculty members—often critics...
...with student money. When University President Drew G. Faust announced that the value of our endowment had dropped precipitously by 22 percent since its June 30 estimate of $36.9 billion, the reality of the crisis hit home. Given that approximately one-third of the University’s operating budget is derived from the payout of the annual interest generated from the endowment and that tuition and donation income are expected to be affected as well, it is an inconvenient truth that budgets across all schools have to be tightened...
Last term, the Finance Committee ended the year with a small surplus for the first time in recent memory. This year, the UC will need to stretch its budget even more in order to help mitigate the increased burden felt by student groups and house committees as publications find the pool of advertisers shallower and formerly robust corporate sponsors pull out of events they have traditionally funded. However, while it is necessary for the UC to be more judicious with its funding policies and financial management, it is equally essential for student groups to review their own operations conscientiously...
...magnitude of this difference becomes even more evident in the current economic climate—the Boston Municipal Research Bureau predicted that Boston could start off the next fiscal year—which begins in July—with an $85 million budget shortfall...