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Trustees’ Meeting Coverage

At the Stated Meeting of the Trustees’ Executive Committee last Thursday, President Amy Gutmann called the Third Annual Arts Day, which was taking place that day, a great success. She also mentioned that the dedication of the Riepe College House, formerly known as Spruce House (Almanac October 19, 2004), was to take place that evening in the Quad. She also thanked the Ad Hoc Committee on Safety in a Diverse Environment for their report (Almanac March 1, 2005). The president and interim provost’s response to the report was in last week’s issue of Almanac and the response from the vice president for public safety is in this issue (see page 8). Dr. Gutmann noted that the Penn Compact is “resonating far and wide” with fundraising for financial aid ahead of schedule.

Interim Provost Peter Conn reported that the School of Social Work (SSW), which is changing its name as of July 1 to the School of Social Policy and Practice, “is a remarkable small school.” The School has established the Nancy Glickenhaus Family Court Program in their Center for Children’s Policy, Practice and Research, (CCPPR) named for a Penn alumna and parent. This initiative promotes a partnership between Penn, the Family Court and the local community. The CCPPR is also involved in an interdisciplinary collaboration to improve the conditions that exist in Family Court for parents and children who are awaiting hearings and to provide the families with assistance. He presented a resolution to establish a master of science in nonprofit/NGO (nongovernmental organization) leadership degree in SSW, in collaboration with SAS and Wharton.

Dr. Conn also presented a resolution to repatriate one wooden bowl from the Penn Museum to the Sac & Fox Tribe of the Mississippi, located in Iowa, which has requested the bowl based on the tribe’s belief that it is a “sacred object” under the Native American Graves Protection and Repatriation Act.

EVP Craig Carnaroli’s Financial Report for the seven months ending January 31, 2005 showed that total net assets for the Consolidated University budget increased $346 million (+5.9 percent), and the total endowment value was $4.236 billion, an increase of $217 million.

Dean Arthur Rubenstein gave the PennMed report; he noted that 95 percent of the 147 medical students who are graduating this spring will be going into residencies, some of the remaining students are in joint degree programs. The entering class of medical students includes a Rhodes scholar.

The resolution on tuition, fees and other student charges for 2005-2006 was approved (see below). For undergraduates, tuition, fees, room and board will total $41,766. For graduate and professional students, tuition will be determined administratively to reflect the budget requirements of the various schools.

The Trustees also passed three other resolutions, including a resolution to authorize the design and construction of the School of Dental Medicine’s Evans 2nd floor Orthodontics renovation project ($2.9 million).

There was also a resolution to authorize the ground lease and development by the lessee of the property at 3401-59 Chestnut Street, approximately 2.5 acres which Penn acquired from the Redevelopment Authority in 1999 and is now used by Penn as a parking lot.

The final resolution authorizes the disposition of and redevelopment of the property at 3900 Chestnut Street, known as Chestnut Hall. The property contains 315 residential units.

The Cost of a Penn Education Exceeds
Penn’s Total Tuition & Fee Revenue

($ Millions)


2000

2001

2002

2003

2004

Tuition & Fees (gross)

$499

$532

$567

$610

$653

Costs of Providing Education*

739

758

830

897

950

Difference

($240)

($226)

($263)

($287)

($297)

* Includes costs of financial aid, instruction, student services and academic support

 

Academic Year 2005-2006
Undergraduate Tuition, Fees and Room & Board Increases


FY2005

FY2006

Increase

% Change

Total Charges

$39,634

$41,766

$2,132

5.4%

  Tuition

$27,544

$29,030

$1,486

5.4%

  Fees

$  3,172

$  3,334

$   162

5.1%

  Room & Board*

$  8,918

$  9,402

$   484

5.4%

* Based on average standard room and the freshman meal plan

 

 

student funding

 

 

number of aided students

 

 



 
  Almanac, Vol. 51, No. 25, March 22, 2005

ISSUE HIGHLIGHTS:

Tuesday,
March 22, 2005
Volume 51 Number 25
www.upenn.edu/almanac

 

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