Holloway said that individuals should understand that the administration cannot easily withdraw funds from its $1.9 billion endowment to fix issues at the University. The endowment itself is disproportionately small compared to the number of individuals at Rutgers, according to his address. “Our budget is $4.8 billion (and) our endowment is $1.9 billion. You want the endowment larger than the budget,” he said. “Frankly, our budget is going to be the same, more or less. The endowment needs to be doubled in size.” Holloway said the University needs to restructure its revenue streams in order to raise enough funds to work on initiatives such as revamping buildings and raising faculty salaries.
