| RSS FEED: From The New York Times Online (Afternoon Edition, 20 May 2029) |
[20 May 2010|04:22pm] |
NYU Loses Longtime Support of The Weymouth Foundation, Faces Severe Budget Constraints
By PHILLIP G. COLTER
Published: 20 May 2029
 NEW YORK, NEW YORK. – In a press conference this afternoon, President of New York University Eve Grauer announced the sudden withdraw of all funding by The Weymouth Foundation, widely regarded as one of the largest benefactors of the University to date. With the loss of The Weymouth Foundation’s support, New York University’s budget has decreased from $4.3 billion from the 2027-2028 academic year to $3.4 billion allotted for 2029-2030.
“Even in ideal fiscal circumstances, the loss of the support of The Weymouth Foundation would place strain on the University infrastructure. That being said, with the loss of revenue from student housing due to zoning on our Washington Square campus, a decrease of performance in our various endowments, and funding for higher education from the federal government at an all-time low, New York University is being forced to refinance for the upcoming semester as soon as possible if we are to avoid dropping services for our students,” Dr. Grauer said.
Dr. Grauer went onto say, “Providing the exemplary education expected from our student body is the University’s top priority as we walk into special sessions with the Provost and Executive Vice President to adjust the budget as we see fit. Although other services, such as dining and on-campus activities, may have to go to the wayside, New York University’s mission to serve the nation’s finest scholars will maintain constant.”
When asked about The Weymouth Foundation’s relationship with New York University prior to the severance of their fiscal relationship, Dr. Grauer declined comment, only saying, “I wish the very best for the Weymouth family in all future endeavors.” And as for the decision to wait until the dust had settled from yesterday’s commencement activities? “The Class of 2029 deserved to have a celebration for its collective accomplishments that would not be scarred by the shadow of fiscal turmoil.”
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