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Yale: More Dough
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Business New Haven
4/29/2002
By: BNH
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NEW HAVEN - Yale University's budget for next fiscal year will be the largest ever and the school's sixth consecutive balanced budget. Earlier this month the Yale Corporation approved a $1.54 billion operating budget and a $361 million capital budget for fiscal year 2003, which begins July 1. Last year's operating budget was $1.4 billion, with a capital budget of $324 million.
The 2003 budget includes major financial aid enhancements for undergraduate and graduate students. The new undergraduate financial aid plan will reduce the average financial aid student's expected contribution by $3,445 a year. There are also substantial increases in funding for academic media and technology and faculty salaries.
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