Board approves FY 2011 budget - Ariel Wittenberg, Brandeis Hoot

The board of trustees approved a $356 million operating budget for fiscal year 2011 that, due to the Brandeis 2020 Committee’s academic cuts, will put the university on the path to a balanced operating budget by 2014. The board took 13 percent ($11 million) of the university’s quasi-endowment in order to balance FY 2011’s budget. The quasi-endowment is often referred to as the university’s “reserve fund” because, unlike the rest of the endowment, which is comprised of restricted gifts, the quasi-endowment can be used for anything at any time.