Harvard Business School is being asked to raise its surplus contribution to help plug Harvard’s widening budget gap as federal funding pressure and endowment pressures continue to weigh on the university. Internal notes reviewed by The Harvard Crimson show the school’s target rose from about $60 million to $82 million for fiscal 2026, with a projected push to $97 million for fiscal 2027. To meet the mandate, HBS outlined expense cuts and revenue actions for fiscal 2026, including salary and benefits reductions, deferred IT project timing, and reductions tied to catering, travel, and events. Faculty support staffing impacts were also reported by HBS personnel, as workload increased after at least one nonreplacement. The reporting frames HBS’s role as a campus “cash cow” unit, while highlighting how pressure is flowing downward into day-to-day operations even where the business school’s revenue mix—executive education, publishing, MBA tuition, and endowment distributions—offers a relative buffer versus research-heavy academic divisions.