November 2004
Introduction:
Following last year's updates on the state of Dartmouth's budget, Provost Barry Scherr and Executive Vice President for Finance and Administration Adam Keller have announced that the College ended fiscal year 2004 with a slight surplus.
Management of existing resources through prudent endowment investment and distribution strategies, reorganization of administrative expenses and phased timing of capital projects are tools the College used to weather recent budget challenges. "When you combine those strategies with the extraordinary generosity of alumni and friends this year, our faculty's success in sponsored research and a better economic picture overall," said Keller, "you begin to see how the forces work together."
"Despite the recent challenges," says Keller, "our cost containment measures have helped us emerge from the past few difficult years in a strong position." He added that the College's financial managers will need to continue working with faculty, administrators and students to ensure that expenses are focused in ways that help Dartmouth realize its strategic priorities.
"We would like to thank everyone who contributed to the successful outcome of the 2004 budget," said Scherr and Keller.
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