The Fields Institute Turns Twenty-Five 170725 Final book with covers - Page 78

56 John Gardner Much of the Institute’s funding has to be utilized in the time period during which the funds are transferred. They cannot be banked and held in reserve against activity that will take place well into the future. An increase in funding was viewed as something that would likely evaporate at the end of the period for which the increase was committed, and plans were structured accordingly. The challenge of striving to provide long-term services to the mathematical community while relying on short-term funding sources was stressful and counter-productive, leading to ramping up and ramping down exercises. As the Institute goes into the future, it operates increasingly on the basis that funding, while formally subscribed to for only short periods, will be continued indefinitely. That was not the case in the past.