Tulane Law School Unscathed?

Law Professor John K. Eason reports today on TaxProf Blog: Eason on The Impact of Katrina on Tulane Law School:

Overall, the University suffered about $200-$250 million in physical damage and an approximate $150 million operating loss. The physical damage will ultimately be covered by insurance, and some creative financing has spread the operating hit out over several years, leaving the endowment in tact. Needless to say, the University has taken a serious look at its core mission and made some strategic decisions. The law school has fortunately emerged from this strategic restructuring virtually unscathed. The administration has even restored our faculty-wide discretionary book and travel allowance for the Spring semester. Although we like to think that these and similar lagniappes resulted from the law school’s longstanding status as an effective and efficient operating unit within the University’s business model, we certainly didn’t mind loaning Dean Ponoroff to the University President for a few months to help guide these decision. [Emphasis added.]