Harvard Facing Rising Expenses Due to Inflation, University CFO Says News
In fiscal year 2022, Harvard's spending was temporarily stifled by staffing shortages and difficulties acquiring goods due to global supply chain c...
In fiscal year 2022, Harvard's spending was temporarily stifled by staffing shortages and difficulties acquiring goods due to global supply chain challenges, contributing to the school's $406 million budget surplus — the highest in at least two decades.But as the United States economy continues to experience record-high inflation, Harvard Chief Financial Officer Thomas J. Hollister said in an interview Wednesday that the University now faces rising costs 'across the board' as the school's expenses are 'bouncing back.