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Cornell News Special Edition - March 6th, 2009
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| Date: |
20-Mar-2009 |
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March 6, 2009
View this newsletter in a browser
http://www.news.cornell.edu/stories/march09/enewsmarch6.html
President David Skorton and Chairman Peter Meinig
Trustees approve up to $500 million in bonds for working capital
In a statement issued today, President David Skorton says the sale is also needed for "institutional liquidity" and to alleviate pressure on the endowment and other sources of funding. He also announces trustee agreement to reduce endowment spending by 15 percent in fiscal year 2010, with additional reductions planned for fiscal 2011 and 2012. "The size of Cornell's required budget reductions has grown in recent weeks," he says.
Read the full statement.
http://www.cornell.edu/president/statements/2009/20090306-presidential-message.cfm
*Bond sale, endowment action last two pieces of recovery puzzle
http://www.news.cornell.edu/stories/March09/bondSale.sk.html
*University budget communications
http://www.cornell.edu/budget/
Click here for more...
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