Trustees’ Annual Stated Meeting Coverage
At the Annual Stated Meeting of the Trustees last month, Chairman James Riepe said that President Amy Gutmann “hit the ground running last July” and has been “pushing Penn to greater heights.” He also added that the Penn community has “embraced her vision” and the “momentum has accelerated.”
The Trustees passed a memorial resolution for alumnus and trustee Anthony “Skip” Minisi, a “quintessential Quaker” who died on May 5 (Almanac May 24, 2005).
A resolution of appreciation was passed for trustee Dr. Edward T. Anderson, an interventional cardiologist who maintains “a special place in our hearts through his readiness to serve his alma mater.”
A resolution of appreciation was passed for Dr. Stanley B. Prusiner, trustee, winner of the 1997 Nobel Prize in Medicine, and a triple-degree Penn alumnus.
A resolution of appreciation was passed for trustee and alumnus Michael D. Zisman, who “helped to develop the infrastructure that has made e-mail accessible to countless users.”
The Statutes of the Trustees were amended, establishing a new class of trustees —Special Trustees—up to two in number, to serve for a term determined by the chair at the time of their election, whose service meets a particular need or purpose.
Vice Chairman Jon Huntsman presented the resolution that reelected James S. Riepe as chair of the Board for another one-year term.
The Executive Committee for the coming year will be comprised of: Christopher H. Browne, Gilbert F. Casellas, L. John Clark, David L. Cohen, Jon M. Huntsman, Paul K. Kelly, James J. Kim, William L. Mack, Deborah Marrow, Andrea Mitchell, James S. Riepe (chair), David Silfen, Alvin V. Shoemaker, George Wesis, Paul Williams and Mark O. Winkelman.
These trustees were elected to the Investment Board: Joel Greenblatt, Robert M. Levy, Howard S. Marks (chair), Edward Mathias, James Riepe (ex officio), David M. Silfen and Mark O. Winkelman. Christopher Brown stepped down after serving for 20 years, as the endowment went from $4 million to $4 billion.
President Gutmann took a moment to remember “George Rochberg, a distinguished member of the Penn faculty and great 20th century composer” who died recently. Dr. Gutmann also noted that an agreement has been reached between WXPN and NPR which will bring two ’XPN shows to listeners of 185 public radio stations across the U.S. President Gutmann also thanked Dr. Peter Conn, a “great citizen of Penn” for “serving extraordinarily well as Interim Provost.”
Dr. Gutmann presented, and the trustees approved resolutions of appreciation for Michael Masch, who had served as the vice president for budget and management until becoming the secretary of budget and administration for the Commonwealth of Pennsylvania; for Kenneth B. Campbell , who recently retired as comptroller and associate vice president for financial systems, having served Penn for 33 years; for Carol R. Scheman, vice president for government, community and public affairs since 1994; and for Leroy D. Nunery II, vice president for business services since 1999, who has left Penn to become president of the Edison Schools in New York.
The Trustees approved the appointment of Ronald J. Daniels as Penn’s provost and of John F. Horn as comptroller; both appointments became effective July 1.
Dr. Conn reported on activities at the Library such as Scholarly Commons and Information Commons which are positioning Penn to be a leader in technology-based services.
EVP Craig Carnaroli gave the financial report for the ten months ending April 30. For the Consolidated University (Academic and Health System) total net assets increased $376.8 million to $6.265 billion. Net assets from operating activities increased $54.8 million compared to a decrease of $8.7 million for the prior fiscal year. He said that FY 05 was a “prosperous year,” with the Academic Component having a modest surplus and the Health System had a positive operating margin for the fifth consecutive year.
Dr. Gail Morrison, vice dean of Medicine, gave the Penn Medicine report and noted that the school’s ranking in NIH funding is up from #3 to #2 in the U.S.
In the Admissions Report, Dean Lee Stetson said there were nearly 19,000 applicants for the incoming freshman class, with a 20% admit rate, and a yield of 66% which is up three percent. There are students from all 50 states and a dozen Native Americans among the incoming class.
The Academic Policy Committee presented a resolution to approve revisions in the Research Faculty Track to benefit the faculty and Penn’s ability to compete for NIH funding; the revisions became effective July 1. The School of Nursing proposed establishing four new positions to provide for advancement within the academic support staff; the total number of such positions shall each be limited to no more than 20 percent of the standing faculty of the school. The School also proposed establishing the untenured rank of Practice Professor, whose primary activity is to teach on a full-time basis; with a limit of not more than 20 percent of the standing faculty.
The trustees also approved a resolution to establish in the Graduate School of Education a Master in Philosophy (M.Phil.) in professional counseling and psychology to supplement the existing M.S.Ed. in psychological services.
The Operating Budget for the University for FY 2006 was approved, along with the Capital Plan representing estimated project costs of $146.2 million with $49.5 million funded by the schools and centers and $35.3 million from gifts and grants, as well as $41.2 million from internal capital loans. The Operating Budget for UPHS was approved and its Capital Budget of $172.7 million which includes $38.1 million for the initial foundation and steel construction of the Center for Advanced Medicine.
Other resolutions authorized renovations for the Space Planning and Operations Office to relocate in Anatomy Chemistry from Blockley Hall ($1.5 million); Budget Planning software ($1.5 million); SEAS’ Moore 3rd floor lab renovation ($1.54 million); the Ryan Hospital Student Surgery renovation ($1.83 million); the School of Veterinary Medicine’s Old Vet Quad Animal Holding renovation for medical genetics ($2.9 million) ; upgrades to University-owned fraternity and sorority houses ($5 million) and purchase an MRI for a proposed small animal imaging facility ($2.547 million).
Almanac, Vol. 52, No. 1, July 12, 2005