|Trustees’ May Meeting Coverage
May 27, 2008, Volume 54, No. 34
At the May 15 Trustees’ Stated Meeting of the Executive Committee, President Amy Gutmann announced the new Dean for the School of Design (Marilyn Jordan Taylor: Dean of School of Design) and the new Vice President for Government and Community Affairs (Almanac May 6, 2008). She also announced that Penn has been breaking records with $1.93 billion raised toward Making History: The Campaign for Penn. The senior gift drive has reached its goal of 65% participation but is still accepting gifts; it has a website, seniorgiftdrive.com, and a student-created video.
Provost Ron Daniels spoke about how the Kelly Writers House has launched Writers Without Borders, (Almanac March 4, 2008) enabling Penn to become an American portal for the voices of writers from around the world to be heard.
EVP Craig Carnaroli summarized the financial report for the nine months ending March 31; he reported that for the consolidated University the total net assets increased to $8.8 billion. Total operating revenue increased by $236.7 million to $3.7 billion while total operating expenses increased $217.1 million to $3.5 billion. Net assets from non-operating activities decreased, driven by lower investment performance consistent with recent market volatility.
Dr. Arthur Rubenstein said that an exact replica of the Thomas Eakins’ painting, Agnew Clinic, which has been on loan to the Philadelphia Museum of Art, has been returned to the School of Medicine where it is on display.
Two resolutions passed: one for the design and construction of Maloney’s 8th and 9th floors for the Institute for Translational Medicine and Therapeutics (ITMAT), $3.1 million. The other for the design and construction of the 1st floor of the Chemistry 1958 wing lab renovations, $5 million.
June Meetings: The Trustees’ full Board spring meetings will be on June 19 and 20.