Conclusion

Williams is in a strong financial situation by virtually any comparison—except with the Williams of three years ago. In the wake of the financial crisis, we have significantly less revenue from endowment and less revenue from gifts. It would be unwise to anticipate endowment growth in the future of the kind we’ve experienced over the past 15 years. Our challenge then is to reduce spending in ways that protect our mission of providing the finest possible liberal arts education and that return us as soon as possible to where, if capital markets remain steady, we can resume growth in our operations each year. This is a goal we can achieve with the continued help of faculty, staff, students, alumni, parents, and friends.

Bill Lenhart
Provost and Treasurer

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