At the May 9 Stated Meeting of the Executive Committee of the Trustees, President Judith Rodin announced the appointment of Dr. Michael Eric Dyson as Avalon Foundation Professor in the Humanities and African-American Studies; he will teach courses in the Religious Studies department and in the Afro-American Studies program. Dr. Rodin noted that while Dean of Admissions Lee Stetson will give a full report in June, this year's yield is up to 62%, with average SAT scores of those students at 1406.

Provost Robert Barchi presented a resolution on a Repatriation Claim from Hoonah Indian Association/Huna Heritage Foundation, Alaska, which contends that "objects of cultural patrimony" are in the University Museum's collections; the Museum has evaluated the claim and will work cooperatively with the claimants to make objects accessible to the Clan.

EVP John Fry's financial report on the consolidated academic component of the University (for the nine months ended March 31, 2002), showed a net gain on investments, an increase in net assets from operations but revenue gains were reduced by revenue declines in Wharton Executive Education, Campus Dining and University-owned hotels; total expenses increased more than 10% over FY 2001; and nonoperating contributions declined due to several large gifts in FY 2001.

In his report on PennMed, Dr. Robert Martin noted that they will initiate a quality of patient care assessment.

Now that the Trustees have authorized a ten-year lease in International House for the Office of International Programs, the OIP may proceed with its planned move from Bennett Hall, after the first floor space in I-House is renovated.

The Trustees also approved the University's guaranty of a $9 million loan to University City Associates which will reduce UCA's borrowing costs to refinance a ten-year loan the Trustees approved in 1992 which is about to mature.

Facilities and Campus Planning Committee reported that the modular laboratory configuration proposed by the architects for the Life Sciences buildings respects the Bio Pond and gardens.

With the lease signed by National Amusements for the cinema at 40th Street, the target opening date is November. Huntsman Hall is expected to be completed in August.

The Investment Board is pleased with the progress that has been made in the last two years, with the AIF outperforming the Benchmark. The total endowment's fair market value, as of March 31, 2002, is $3.45 billion.