Despite surplus, Yale cuts to continue - LARRY MILSTEIN, Yale Daily News

While the University reported a $51 million surplus for fiscal 2014, Yale’s true financial status is not as optimistic. In its annual budget report released last week, the Yale Division of Finance announced that the University operated at a $51 million surplus for the 2014 fiscal year. But the actual net gain in funds was markedly less, and Yale will not now have an additional $51 million at its disposal. According to Provost Benjamin Polak, the exact surplus calculated often depends upon the specific accounting principle used. As a result, administrators and faculty members interviewed expected Yale’s current cost cutting measures — issued after Yale’s $39 million deficit in 2013 — to remain unchanged. http://yaledailynews.com/blog/2014/11/05/web-yheadline-here-160/