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Vice President for Finance and Chief Financial Officer Thomas J. Hollister offered a bleak projection of the University’s finances in a Tuesday interview with The Crimson, forecasting that Harvard will experience its second consecutive year of declining revenues for the first time since the Great Depression of the 1930s. Ever since Covid-19 upended the University’s operations, Harvard has struggled to balance its checkbook as it racks up pandemic-related expenses. The University’s revenue also dropped by $138 million in fiscal year 2020, for a net loss of $10 million, compared to a surplus of $308 million in 2019. Hollister said he expects revenues to decline once more in 2021, although he declined to offer a specific estimate, citing uncertainty over revenues and expenses for the remainder of the fiscal year.

United statesKevina simauchiKatherinen lappLawrences bacowThomasj hollisterUniversity provost alanm garberVice presidentChief financial officer thomasGreat depressionUniversity president lawrenceUniversity provost alanExecutive vice president katherineAdams houseஒன்றுபட்டது மாநிலங்களில்துணை ப்ரெஸிடெஂட்தலைமை நிதி அதிகாரி தாமஸ்