| Trustees’ May Meeting Coverage |
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May 25, 2010,
Volume 56, No. 34
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On May 18, the Trustees’ Budget & Finance Committee met and heard financial reports on the third quarter that indicated a strong balance sheet for the Consolidated University in part due to positive operating performance and strong investments. The AIF return during the third quarter was 17.1%, which was better than benchmark; the one-year return was 30.7% and the five-year return was 5.3%. Due to the federal stimulus money, the sponsored research was up $70 million with a strong performance. The University has received nearly $180 million, with about $140 million of that going to Penn Medicine. Although the loss of the $10.3 million Commonwealth Appropriation for the School of Veterinary Medicine, as compared to the actual FY09 budget, has had a substantial impact on the School.
GSE Dean Andy Porter reported on the ‘small but mighty’ Graduate School of Education which has PhD and EdD students, as well as an increased number of masters students within its five divisions, but also has partnerships with other schools and departments at Penn, and is a site for the national Teach for America program. Locally, GSE works closely with the Penn Alexander School and other neighborhood schools; globally, there are numerous programs with countries such as China, Korea and Nicaragua.
EVP Craig Carnaroli reported on the University’s Response to the Economic Climate which has resulted in various cost containment measures since December 2008, such as operational efficiencies, prudent investments in the university’s facilities like the recently renovated Music Building, the new Weiss Pavilion, the Penn Park and the planned Singh nanotech building.
Trustees’ Meetings: June 17 & 18
Meetings of the Trustees of the University of Pennsylvania will be held on June 17 & 18 in Houston Hall. Send attendance plans to Sydney de Lapeyrouse at ldelap@upenn.edu by June 1.
Thursday, June 17
10:15-11:45 a.m., Facilities & Campus Planning Committee, Bodek Lounge
2-3:30 p.m., Neighborhood Initiatives Committee, Class of ’49 Auditorium
Student Life Committee, Ben Franklin Room
3:45-5:15 p.m., Academic Policy Committee, Golkin Room
Budget & Finance Committee, Bodek Lounge
External Affairs Committee, Class of ’49 Auditorium
Friday, June 18
11:30 a.m.-12:30 p.m., Stated Meeting of the Trustees, Bodek Lounge
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