Although Stanford makes over $6 billion in revenue, only about one-fifth of that money is designated as a ‘general fund,’ meaning the University can spend the money on anything it deems fit.
At its Thursday meeting, the Faculty Senate heard presentations on the University’s budget for the upcoming academic year, as well as efforts to improve faculty diversity.
The Faculty Senate had its penultimate meeting on Thursday, wrapping up issues from the year and began to look forward to next year with a report on the budget from Provost John Etchemendy, a summary of faculty changes and a preview of future committee reports. The Associated Students of Stanford University (ASSU) Executives also attended and thanked the Faculty Senate for their work.
The Stanford Board of Trustees’ announcement last week of an increase in the cost of attendance for the 2010-11 academic year marks an attempt by the University to find a difficult balance between its stated revenue needs and the concerns of students and families weathering a trying economic climate.