Click for Philadelphia, Pennsylvania Forecast


Print This Issue
Front Page
All About Teaching
Subscribe to E-Alamanc!


Trustees Executive Committee Meeting Coverage

At the September 11 Stated Meeting of the Executive Committee of the Trustees, Chairman James Riepe noted how wonderful the convocation event for the Class of 2007 was on September 2 and in spite of the weather there was a great turnout (Almanac September 9, 2003). He also mentioned the announcement, which the Trustees made concerning the Consultative Committee for the Selection of a President (Almanac September 9); it will ultimately provide the Executive Committee with a list of candidates.

President Judith Rodin said that Penn was commemorating the second anniversary of 9/11 with a series of low-key events. The blood drive at the Palestra attracted some 85 donors, exceeding the organizers expectations. She praised the National Constitution Center, which opened this summer; Penn is an academic partner. There was a Justice Talking debate there in July during the Center's opening festivities. The Constitution Center's Director Joe Toricelli is a Penn alumnus. Dr. Rodin said that the Class of 2007 hails from all 50 states and 63 countries. She also said that the Strategic Plan approved by the Trustees will be published before the end of this month.

Dr. Rodin commended the Division of Public Safety for the improvements they have made, including high-tech surveillance equipment, which led to Penn winning the 2003 Jeanne Clery Campus Safety Award for the innovative technological programs and campus and community patrols (Almanac July 15, 2003).

Provost Robert Barchi spoke about the School of Design which has an acting dean, Dr. John Dixon Hunt, (Almanac September 9, 2003) while Dr. Gary Hack is on a scholarly leave of absence this semester working on the plans for the World Trade Center. Meanwhile, Meyerson Hall is getting much needed renovations for the first time since it was built in 1967. The architect for the project is Wesley Wei, a recently appointed practice associate professor in the School of Design. The School is launching the Center for Urban Redevelopment Excellence (CUREx), a partnership between Penn and the John S. and James L. Knight Foundation. They are recruiting the first cohort of fellows; there have already been 147 applicants for the ten slots.

The School of Education will be hosting a conference October 30-31, on universities that create or manage K-12 public or charter schools. GSE is also collaborating with Chinese and Thai universities for a soon to be launched Ed.D. program that will bring participants from those institutions to Penn for some of their coursework.

The Financial Report--the unaudited results for the fiscal year ending June 30, 2003--were presented by EVP Clifford Stanley. The total net assets for the consolidated University increased $173.9 million to $5.330 billion; net assets from operations increased $23.1 million, compared to an increase of $30.9 million for the prior fiscal year while net assets from non-operating activities  increased by $150.7 million,  compared to a gain of $94.7 million, due to improved investment performance. Total operating revenue increased by $253.8 million to $3.585 billion and total expenses increased $261.5 million to $3.562 billion. For the academic component, total net assets increased $162.6 million principally due to non-operating contributions and investment activity. For the health services component, total net assets increased $11.2 million. The amount due the University declined from $24.9 million to $7.8 million consistent with the agreement.

Dean Arthur Rubenstein reported that in the School of Medicine's Class of 2007 there are 147 students, 55% of whom are women and 45% are men.

Vice President for Finance and Treasurer Craig Carnaroli reported on behalf of the Investment Board that the AIF gained 4.7% in the past fiscal year.

Budget and Finance Committee chair John Clark presented three resolutions, which had been discussed at their committee meeting earlier that day and were approved at the stated meeting.

The first was to authorize the design and construction of the SAS McNeil Center for Early American Studies building in the amount of $3.5 million. The next one authorizes the design and construction of the School of Design's Meyerson Hall renovations in the amount of $1 million. The final one authorizes execution of hedging transactions to manage steam costs.

Marcy Engel, Antonio Magliocco, James  Nevels and Robert M. Potamkin were appointed to the Board of Overseers of the Law School. Marjorie G. Schaye and Vincent J. Griski were appointed to the Board of Trustees of the Penn Press.


  Almanac, Vol. 50, No. 4, September 16, 2003