The Board of Trustees will meet in special session March 1 in Boston to confront what President Kemeny terms Dartmouth's "worst financial crisis in several decades."
The three horsemen of the economic apocalypse - soaring fuel prices, long-term inflation, and a leveling of endowment growth - could have a negative impact of $2 - $3 million on the financial situation of the College, Mr. Kemeny told the Trustees and Alumni Councilors at their January joint meeting, a warning he reiterated to the college community at his monthly radio press . conference shortly after the start of the delayed winter term.
With the cost of oil almost tripled from $3.50 a barrel a year ago to the current price, fuel expenditures are expected to reach $1.8 million for 1974-75 - $1.1 million higher than originally budgeted - even considering the 15 percent reduction in consumption already effected by austerity measures.
Teamed with a general erosion of the purchasing power of the dollar and the slump in investment income, the energy cost crisis presents the Trustees with "one of the most difficult problems this Board will ever face," the President said - making ends meet without sacrifice of the quality education the College offers its students.
These browsing deer were photographed near the College Grant by Adrian Bouchard. Did the buck stop here? Is he in the picture?