Ivies face deficits - ADRIAN RODRIGUES, Yale News

Faced with increasing financial pressure, half of the Ivy League was in the red last year. Yale University, Harvard University, Dartmouth College and Cornell University all posted budget deficits for the fiscal year that ended Jun. 30. Yale had the highest gap between revenue and operating costs at $39.2 million, compared to Harvard’s $33.7 million deficit, Cornell’s $31 million and Dartmouth’s $1.8 million. According to financial experts interviewed, some of the world’s wealthiest universities faced budgetary gaps during fiscal 2013 because of rising operating costs, cuts to federal research funding and ambitious financial aid programs. “I don’t think we’re about to see the clouds part — I think a lot of these issues are structural,” said David Strauss, a principal at Art and Science Group LLC, a firm that advises colleges and nonprofits. “Are there going to be some tight times? I don’t think that’s a one year phenomenon, I think it’s a multi-year phenomenon.” http://yaledailynews.com/blog/2014/01/21/ivies-face-deficits/