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Guide to the Administrative Papers of President James McNaughton Hester RG 3.0.7

Elmer Holmes Bobst Library
70 Washington Square South
New York, NY, 10012
(212) 998-2641
university-archives@nyu.edu


New York University Archives

Collection processed by Collection processed by Rob Dishon, Jeane Mixon, and Darren W. Johnson. Additional processing by Erin Shaw.

This finding aid was produced using the Archivists' Toolkit on July 24, 2013
Description is in English.

Container List

Series VI: Finances, 1966-1975 (Boxes 45-50)

Scope and Contents note

The finances series measures 28 linear inches and is arranged alphabetically by subject. It consists of material related to auditing, banking, budgets, financial reporting, investments, and related financial matters.

There are 6 boxes relating to finances. Box 1 consists of general financial information. The file on banking (folder 1) contains a letter from the bank asking NYU to reduce its outstanding debt as well as correspondence about the voting of proxies over dealings with South Africa. The folders on the budget contain general information except for the folder on the five-year plan, which was formulated to put the University on a sound financial footing. This folder also contains the State approval of the plan. The original inventories contains references to folders on expenses. These expenses were not considered of importance to the collection as a whole and have been disposed of.

Of primary interest in this collection is the information on financial crises both at NYU and in higher education in general. Box 45 contains clippings regarding the financial crisis at NYU. Box 46 contains information about a Task Force established by President Hester to review NYU's financial condition and make recommendations that would alleviate the crisis. Hester also requested suggestions from the faculty and these suggestions are contained in the file entitled "Faculty Responses to Hester Memo of 1/28/71." Among other things, the University realized that many professors would have to be denied tenure and there was an attempt by the University to establish a faculty placement service. The information on these attempts and on the crisis at institutions of higher learning in general is also in Box 46.

Box 47 contains considerable correspondence regarding the recommendation that NYU save money by closing the Graduate School of Social Work. Initially the University viewed this as a necessary solution unless sufficient funds were raised to guarantee support for the school. The first folders on this controversy are a response to the recommendation to close. As it became obvious that sufficient funds would be raised, the correspondence changed to congratulations on having found a solution.

Box 47 also contains the Hurd Commission Report. Hurd was appointed chairman of a State Task Force on the Financing of Higher Education in New York State in November 1971. The file consists of his report, findings and recommendations circulated by Commissioner Nyquist, and comments by Professor Arnold Goren. Also in this file is information on NYU's investments including statements from banks and other managers of the endowment funds, and suggestions from within and outside of the University on how to improve income.

Box 48 contains information on the decision to sell the Heights campus and the response from alumni and students. Initially the University tried to seek an alternative to the sale through appeals legislators and a variety of alternative proposals. When it became obvious that the sale would take place, the material changes to agreements and contracts including a merger agreement between NYU's Engineering and Polytechnic Institute of Brooklyn. These plans were vigorously opposed by the students and alumni and there is considerable correspondence about the decision to close the Heights campus in Box 49. Box 49 also contains information and correspondence about the decision to merge the school of engineering with the Brooklyn Polytechnic Institute, a plan that was also strongly opposed by alumni and students.

Box 50 consists of University memos regarding finances. These memos provide a quick understanding in chronological form of what the administration was trying to do about the financial crisis.

Container 1 Container 2   Title Date
Box: 45 Folder : 1 Banking
1972-1973
Box: 45 Folder : 2 Bonds
1973-1974
Box: 45 Folder : 3 Budget
1970-1973
Box: 45 Folder : 4 Budget, Five year plan
1970-1973
Box: 45 Folder : 5 Committee on the Financial Emergency
1972
Box: 45 Folder : 6 Dean's comments on task force formation
1972
Box: 45 Folder : 7 Financial Crisis at NYU
1966-1970
Box: 45 Folder : 8 Financial Crisis at NYU
1971
Box: 45 Folder : 9 Financial Crisis at NYU
1972
Box: 45 Folder : 10 Financial Crisis at NYU
1972
Box: 45 Folder : 11 Financial Crisis at NYU
1972
Box: 45 Folder : 12 Financial Crisis at NYU
1973
Box: 45 Folder : 13 Financial Crisis at NYU
1974-1975
Box: 46 Folder : 1 Financial Crisis at NYU, Task Force report
1969-1973
Box: 46 Folder : 2 Financial Crisis NYU,Faculty response to memo
1971
Box: 46 Folder : 3 Financial Crisis at NYU, Faculty placement
1972
Box: 46 Folder : 4 Financial Crisis in Higher Education
1969-1971
Box: 46 Folder : 5 Financial Crisis in Higher Education
1971
Box: 46 Folder : 6 Financial Crisis in Higher Education
1972
Box: 46 Folder : 7 Financial Crisis in Higher Education
1972
Box: 46 Folder : 8 Financial Crisis in Higher Education
1973-1974
Box: 46 Folder : 9 Financial Crisis in Higher Education
1975
Box: 46 Folder : 10 Financial Crisis in Higher Education
1973-1974
Box: 47 Folder : 1 Financial Crisis in Higher Education,Carnegie
1970-1974
Box: 47 Folder : 2 Financial Reports
1973-1974
Box: 47 Folder : 3 Financial Statements
1972-1974
Box: 47 Folder : 4 Graduate School of Social Work, protests
1972
Box: 47 Folder : 5 GSSW, letters protesting plan to close
1972
Box: 47 Folder : 6 GSSW, letters protesting plan to close
1972
Box: 47 Folder : 7 GSSW, letters protesting plan to close
1972-1973
Box: 47 Folder : 8 Hurd comm report on financing Higher Ed in NY
1971-1972
Box: 47 Folder : 9 Investments
1972-1973
Box: 47 Folder : 10 Investments
1974-1975
Box: 47 Folder : 11 NYU Reports and Statistics
1971-1972
Box: 48 Folder : 1 State Education Department
1971-1973
Box: 48 Folder : 2 Task Force Report
1972
Box: 48 Folder : 3 Task Force Report
1972
Box: 48 Folder : 4 University Heights Campus Sale
1970-1972
Box: 48 Folder : 5 University Heights Campus Sale
1972
Box: 48 Folder : 6 University Heights Campus Sale
1972
Box: 48 Folder : 7 University Heights Campus Sale
1973
Box: 48 Folder : 8 University Heights Campus Sale
1973-1974
Box: 49 Folder : 1 University Heights Campus Sale,memos regard.
1972
Box: 49 Folder : 2 University Heights Legislation
1971-1972
Box: 49 Folder : 3 Univ. Hgts, letters opposing decision to sell
1972
Box: 49 Folder : 4 Univ Hts, letters supporting decision to sell
1972
Box: 49 Folder : 5 U Hts: School Eng merger w/ Brooklyn Poly Inst
1970-1972
Box: 49 Folder : 6 U Hts: School Eng merger w/ Brooklyn Poly Inst
1972
Box: 49 Folder : 7 U Hts: School Eng merger w/ Brooklyn Poly Inst
1972
Box: 49 Folder : 8 U Hts: School Eng merger w/ Brooklyn Poly Inst
1972
Box: 49 Folder : 9 U Hts: School Eng merger w/ Brooklyn Poly Inst
1972
Box: 49 Folder : 10 U Hts: School Eng merger w/ Brooklyn Poly Inst
1972-1973
Box: 49 Folder : 11 U Hts: School Eng merger w/ Brooklyn Poly Inst
1973
Box: 49 Folder : 12 University Memos
1969-1971
Box: 50 Folder : 1 University Memos
1972-1975
Box
50
Folder
1
 

University Memos, 1972-1975

Box: 50 Folder : 2 Working Papers
1972
Box: 50 Folder : 3 Working Papers
1972
Box: 50 Folder : 4 Materials sent to Committee
1972
Box: 50 Folder : 5 Working Agenda
1972
Box: 50 Folder : 6 Meetings March
1972
Box: 50 Folder : 7 Meetings March-April
1972
Box: 50 Folder : 8 Meetings April
1972
Box: 50 Folder : 9 Meetings April
1972
Box: 50 Folder : 10 Meetings April-May
1972

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