Coverage of Penn Trustees' June Stated Meeting |
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July 17, 2012,
Volume 59, No. 01 |
At the Annual Stated Meeting of the University of Pennsylvania Board of Trustees in June, Chair David Cohen began with a welcoming comment for the record. He praised President Amy Gutmann, who had accepted a five-year extension to her contract which was due to have expired in 2014 and will now continue until 2019. After the applause died down, Dr. Gutmann said, “I am deeply moved and immensely grateful. Thank you for your belief in the power of education to make a better future.”
President Gutmann noted that the Class of 2016 set new records, and for the first time in Penn history there were three faculty members named to the National Academy of Sciences in one year. Penn’s Campaign is on track to surpass last year’s giving thanks to generous gifts from alumni and other friends of the University.
David L. Cohen was reelected chair of the board; David M. Silfen and George A. Weiss were reelected vice chairs; and Jon M. Huntsman Jr. was elected a term trustee for a four-year term. The executive committee was elected as well as the investment board.
The Trustees passed a Resolution of Appreciation for William (Bill) M. Schilling, C ‘66, L’69, who as director of financial aid for over 30 years, has “significantly and positively impacted the lives of thousands of Penn students.” He was instrumental in implementing Penn’s no-loan policy for undergraduates, making Penn a national model for college affordability.
Provost Vince Price mentioned that all 12 schools at Penn have completed their Diversity Action Plans (see page 1). Thanks to stipends, 50 Penn students participated in international internships this summer.
EVP Craig Carnaroli reported that the forecast for FY12 shows an overall increase in net assets for both the academic side and the health system; and FY13 shows a modest growth in revenue.
EVP for UPHS and Dean of the PSOM Dr. Larry Jameson gave the Penn Medicine report that included his thanks for support during his first year here. Dr. Gutmann said there had been a “seamless transition from strength to greater strength.”
Dean of Admissions Eric Furda said Penn accepted 12.5% of the applicants for the Class of 2016 and the yield was 63%; all 50 states are represented.
A department of Africana Studies in SAS; a master in medical ethics in the Perelman School of Medicine and a master of integrated product design in SEAS will each be established.
Penn Connects 2.0, a Renewed Vision for the Future was released; it is organized into five themes.
In addition to the annual resolutions to authorize the fiscal year budgets, capital plans and borrowing, there were others related to construction: to develop an ambulatory care building for Penn Presbyterian Medical Center, $55.3 million; the ARCH building restoration, $24.5 million; Hutchinson Gymnasium renovation, $22.7 million; a new College House, $6.4 million; Museum West Wing Widener Lecture Hall renovation, $3 million; and Spruce Street Plaza $2.5 million.
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