Trustees’ Meeting Coverage
At the Trustees’ Stated Meeting last Friday, Chairman James Riepe noted that the book funded by the Annenberg Foundation and published by the Annenberg Public Policy Center, Treating and Preventing Adolescent Mental Health Disorders, What We Know and What We Don’t Know, was recently named the best book in clinical medicine published in 2005 by the Association of American Publishers.
A resolution of appreciation for Madlyn K. Abramson and designation as emerita trustee; and a resolution of appreciation for James Kim and designation as emeritus trustee were passed, after a resolution to amend the statutes of the trustees was also passed concerning eligibility for emeritus designation.
President Amy Gutmann acknowledged the passing of Dr. George Gerbner with a moment of silence (Almanac January 10, 2006). Dr. Gutmann said that the Campus Development Plan (Almanac February 7, 2006) was on track, and would be presented to the Trustees for approval in June. Dr. Gutmann thanked Senior Vice President for Facilities and Real Estate Omar Blaik for all he has done over the past nine years. The President said that Penn will move forward with the excellent recommendations from the Task Force on Global Engagement (Almanac February 7, 2006). She mentioned that fundraising is up, with several multimillion dollar gifts, and admissions is up 8.7% with more than 20,000 applications for the incoming freshman class.
Provost Ron Daniels mentioned Wharton’s 125th Anniversary this year; it is being celebrated with numerous events, including one on June 15 in Toronto, Canada. The school is establishing a new concentration in retailing. He said that as was done after the post-Katrina conference his office sponsored in D.C., there will also be a book of findings to summarize the on-campus conference that was held on February 2.
Executive Vice President Craig Carnaroli reported that the financial report is a continuation of the positive trend of the past 18 months in terms of philanthropic support, investment performance and the endowment. He noted that there would be higher capital spending this year to complete several major construction projects. For the Consolidated University (Academic and Health System) total net assets increased $444 million, 6.9%, since June 30, 2005; net assets from operating activities increased $94.1 million compared to an increase of $31.5 million for the prior fiscal year.
Dr. Arthur Rubenstein reported that the Perelman Center for Advanced Medicine (CAM) will allow Penn Medicine to transform patient care in this area, remain financially successful and retain and attract exceptional faculty and students.
The Academic Policy Committee presented two resolutions: one to establish the position of artist-in-residence in SAS and the other to establish a master’s degree in social policy in the School of Social Policy and Practice.
Budget and Finance Committee presented resolutions: $159 million to complete the construction of Phase 1 of CAM; $6.87 million to complete work necessitated by the South Street Bridge reconstruction; $1.85 million for a PET/CT scanner; $1.47 million for a ten-year lease for the School of Medicine Center for Sleep and Respiratory Neurobiology; and the authorization of the faculty guaranteed mortgage insurance program.
On behalf of the Development Committee, David Silfen reported that there have been 21 first-time million dollar donors (a 62% increase) and alumni giving is twice what it was last year.
Andrea Mitchell reported that the External Affairs Committee heard reports from the School of Medicine and School of Nursing, as well as Government and Community Affairs and University Communications.
Bill Mack reported that Facilities and Campus Planning heard about Penn’s substantial facilities renewal program—deferred maintenance, capital renewal, and capital improvement—as well as the many construction projects underway.
The Neighborhood Initiatives Committee chair, Gil Casellas, described the presentations on safety and security by criminologist Dr. Larry Sherman and Vice President for Public Safety Maureen Rush which described both strategic and tactical approaches to dealing with crime on and around the campus.
Alan Hassenfeld, chair of Student Life Committee, thanked the Provost for the additional space now available for student performing arts groups in the ARCH, and credited Dr. Janice Bellace for approving the family-friendly policies to help doctoral students.
On behalf of the Investment Board, chair Howard Marks noted that Penn has more money in areas that are performing well, including international equity and emerging market equity. The total value of the endowment as of December 31, 2005 was $4.66 billion.
In the Penn Alumni Report, Paul Williams mentioned that during President Gutmann’s recent trip to India (Almanac January 17, 2006) she met more than 500 Penn alumni, in addition to the hundreds she has met with recently in Miami, Florida and Atlanta, Georgia. He added that next month, Dr. Gutmann travels to Taiwan, Singapore and Beijing, China.
There were numerous appointments to overseer and other boards, including:
Lolita K. Jackson to the Annenberg Center Board;
Susan Small Savitsky and David B. Weigle to the SAS Board;
L. John Clark as chair of the Athletics Board;
Ned L. Siegel to the School of Design Board;
Jay S. Fishman to the GSE Board;
Sarah Keil Wolf to the SEAS Board;
Gail Kamer Lieberfarb to the Museum Board and Michael J. Kowalski as the chair;
David Ertel to the School of Social Policy and Practice Board; Jeffrey J.L. Koo, Jr. to the Wharton Board; and
The 2006 slate of the Board of Managers of Wistar was also approved.
The Trustees approved a memorial resolution for Michael ‘Mickey’ L. Tarnopol, W ’58, who died on May 23, 2005 at the age of 68 (Almanac July 12, 2005) which was followed by a Memorial Service celebrating the life of passions of the Charter Trustee, Board Vice Chair, and Wharton Overseer who was described as a “trustee’s trustee” as well as a vibrant leader.
Almanac, Vol. 52, No. 24, February 28, 2006