From the Yale Daily News: Yale College is drawing from its reserves for the first time in four years, even with more income from tuition and the University endowment than last year, as it attempts to pay $26 million in endowment tax costs this fiscal year without additional budget cuts.
Yale’s budget book for fiscal year 2027, which was released last month, includes a new line that denotes how much each school contributes to the broader University’s endowment tax, which increased by more than five times starting in July. That cost, which depends on how much of the school’s budget draws from endowment investment returns, was set at $26 million for the College...
Full story at https://yaledailynews.com/articles/college-drawing-from-reserves-to-offset-endowment-tax-without-more-cuts.
No comments:
Post a Comment