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Trustees Meeting Coverage In addition to approving the undergraduate tuition, fees and other charges (see tablesbelow) for the coming year, the Trustees also approved the charges for graduate students whose tuition will be $26,910 along with a general fee of $1,670. The professional school tuition will be determined administratively however, to reflect the budget requirements of the various schools and the general fee for professional students will be $1,318. In order to ensure accountability and compliance with the demands of federal regulations pertaining to research funding, the Trustees approved Phase I of PennERA (electronic research administration). A major study of the University's needs was launched in November 1999; the results of that study focused on improving Regulatory Protocols, Pre-Award activities and Post- Award Activities. Phase I, acquisition and implementation of new hardware and software systems, is estimated to cost $9.3 million. This is also intended to allow Penn to remain competitive and be more productive. As a result of Penn's need to become 100% equity investor for the multi-screen cinema under construction at 40th and Walnut--since the original funding partner, General Cinema Corporation, filed for bankruptcy--the Trustees approved additional funding of $13 million to complete the cinema project. UPHS will receive supplemental funding of $5.3 million for the Finance Redesign Initiatives, bringing the total cost to $27.6 million, to integrate financial modules, standardize business processes, policies and procedures, HR and payroll systems and to improve collection of third-party receivables. The Executive Committee of Penn Medicine's recommendation to proceed with the Ambulatory Surgery Center and Physician Office at Penn Medicine at Limerick was approved with the increased cost of the project now totaling $9.27 million. What has been one endowed chair in American History since the 1983 establishment of the Roy F. and Jeannette P. Nichols Chair, funded from the lifetime gifts and estates of these two longtime members of the history faculty, has become three such equally endowed chairs to be awarded at all professorial levels. The market value of the fund is in excess of $7 million and it generates $266,808 in annual spendable income. (Nichols House, aka. Sansom East, was named for Drs. Roy and Jeannette Nichols in 1971). EVP John Fry's financial report for the University noted that overall, total net assets increased $5.2 million for the seven months ended January 31 although there was a decrease in net assets from operations, partially due to revenue declines in executive education, campus dining, and University-owned hotels. Dr. Robert Martin reported that UPHS fared well with ‘Match Day,' the day when the fourth-year medical students receive notification of where they will perform their residency training. He also noted that Penn Medicine ranks second in total monetary grants from NIH among academic medical centers, only behind Johns Hopkins. Penn Praxis, a 501c(3) subsidiary of GSFA, which was approved by the Trustees in November, to further the mission of the school as a vehicle for carrying out projects for external clients, now has a newly appointed board of directors. They are William W. Braham III, Craig Carnaroli, Sandra Garz and Scott W. Killinger. Raymond Perelman was appointed to the Penn Medicine Board.
*Pottruck Health & Fitness Center and the Recreation Fee The Pottruck Center was created as a result of persistent student requests for expanded and updated campus recreation and personal fitness facilities. The Center will open in the Fall of 2002. The building will add 65,000 square feet of new space to 80,000 squarefeet of renovated space in Gimbel Gym. The Center will include: state of the art exercise equipment; climbing wall; pool; sauna; rooms for weight, aerobics, and cardiovascular training; spinning; golf center; basketball courts; atrium and seating area; juice bar and Pro Shop. A generous gift from Trustee David Pottruck will defray a substantial portion of the construction cost, but usage fees are needed to cover operations and debt service on the balance of the construction cost. The Pottruck Center will be available to all undergraduate students. An undergraduate recreation fee will provide the funding to make this possible. Graduate and professional students, faculty, and staff who wish to use the Pottruck Center will also have to pay fees to access the facility. Students surveyed indicated a willingness to pay a fee for improved recreation facilities. Most of the students felt that a $300 fee would be reasonable. The new fee is $200.
Almanac, Vol. 48, No. 27, March 26, 2002 |
ISSUE HIGHLIGHTS: Tuesday,
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