Budget flexibility, federal funding are main financial challenges at U., Priorities Committee reports

Two of the biggest financial challenges facing the University are reduced budget flexibility and diminished federal funding for research, provost David Lee GS ’99 said in a Council of the Princeton University Committee meeting on Monday afternoon. Lee, who chairs the Priorities Committee, presented the committee’s annual report, which included an operating budget of $1.59 billion, at the meeting. During the meeting, Lee explained that the University used a significant portion of its reserve funds during the recovery from the 2008 economic crisis, and that this move reduced the University’s ability to reallocate resources in the event of a crisis. http://dailyprincetonian.com/news/2013/11/budget-flexibility-federal-funding-are-main-financial-challenges-at-u-priorities-committee-reports/