Getty Trust to Slash Budget as Investments Tumble
Its portfolio dropped 25% during the last half of 2008, from $6 billion to $4.5 billion.
Wood said the core operating budget for the fiscal year starting July 1 would be $216 million, compared with the current year's budget of $284 million.
The Getty's financial statements show that overall spending has reached as high as $339 million in recent years, when added costs such as interest on $627 million in construction and art acquisition bonds are factored in.
Related Content
Comments
