Trustees Winter Meeting Coverage

At the winter meeting of the Trustees, a resolution was passed to amend the Bylaws of Penn Medicine to include the Provost, the EVP, and the Chairman of the Board of Overseers of the School of Nursing as ex-officio members of the Penn Medicine Board and to not include the EVP in the Executive Committee.

A resolution of appreciation for trustee Lawrence A. Weinbach conveyed gratitude for service to Penn, as he steps down and moves to the President's Circle.

To reflect Penn's long-term commitment, the Trustees adopted "in principle and practice" a statement on diversity.

Three new term trustees were elected effective June 20, 2002: Wendy Evans Joseph, J. Peter Skirkanich and Mark O. Winkelman.

President Judith Rodin spoke about the late Dr. Jonathan E. Rhoads noting that he was able to see the enormous esteem in which he was held. A memorial resolution for Dr. Rhoads was passed to share "abiding gratitude for his dedication and service throughout the years."

Dr. Rodin introduced Dr. Afaf I. Meleis who was officially appointed as dean of the School of Nursing. Dean Susan Furhman was then reappointed as dean of GSE for a five-year term effective July 1. Pedro Ramos was appointed vice president and chief of staff. Dr. Rodin mentioned that she, the provost, and the EVP have launched an International Development tour to "share the exciting results of the Agenda for Excellence."

Provost Robert Barchi gave an update on Nursing and SEAS. He thanked Dr. Neville Strumpf for "the excellent job" she did as interim dean and welcomed Dr. Meleis. He also mentioned that several nursing faculty have been honored lately. SEAS has added a dozen new faculty members this year, many in CIS and bioengineering.

EVP John Fry presented the financial report for the first six months of this fiscal year: the University's total net assets were $4.577 billion, a decrease of .04% since June 30, 2001. This is partly the result of a net loss on investments of $9.6 million, non-operating contributions of $30.5 million and income distributed for operations under the AIF spending rule exceeded earned investment income by $17.7 million. There were lower utility expenses ($4.3 million reduction) due to favorable weather and successful conservation efforts.

Dean Arthur Rubenstein said the first meeting of the Penn Med Board will be in April. He said that the Health System's financial performance is positive and he has "cautious optimism." He said Dr. Robert Martin deserves credit for this turnaround.

The Academic Policy committee proposed two resolutions, which were passed, to establish a department of medical ethics in the School of Medicine and to merge the departments of electrical engineering and systems engineering into electrical and systems engineering.

PricewaterhouseCoopers was appointed as independent accountant for FY 2002.

The Budget and Finance committee presented six resolutions which were all passed including the design and renovation of CMK building interior at New Bolton Center for Veterinary Medicine ($2.1 million); acquisition of Hillel properties on 36th Street and transactions related to Hillel's new facility; design and construction for the completion of Instructional Technology Infrastructure for Huntsman Hall ($2.5 million); the Law School's renovation and expansion of Roberts Hall ($3.6 million). Design and construction of the Hamilton College House renovation ($26.5 million), the first phase of this six-year project includes elevators, sprinklers, fire alarm systems, and landscaping.

The External Affairs committee discussed some of the topics presently concerning the Commonwealth Affairs such as the state appropriation, medical malpractice, the tobacco settlement, stem cell research and the gubernatorial race.

Facilities and Campus Planning committee said that there are now proposed design guidelines which will be published to solicit comment from the University community.

The Development committee said the first half of the year is on target with several major gifts.

The Investment Board said that the endowment appreciated, outperforming the stock portfolio.

The Neighborhood Initiatives committee expressed their support for Penn's economic inclusion program.

The Student Life committee reported that the new Graduate Student Center has been strongly utilized; dining options for the coming year are being evaluated as well as student health insurance.

The Alumni Report noted that the Gazette is celebrating its Centennial this year and there is a new alumni website.