The Executive Committee of the Trustees met on September 23, in-person and virtually.

Trustees Chair Scott Bok and Penn President Amy Gutmann delivered the Chair’s and President’s reports, respectively.

Interim Provost Beth Winkelstein presented a resolution proposing various faculty appointments and promotions across Penn’s schools. All were approved.

Senior Executive Vice President Craig R. Carnaroli delivered the financial report. Total net assets were $26.9 billion as of June 30, 2021, an increase of $7.4 billion, or 37.7% over June 30, 2020 and 35.2% above budget.

Executive Vice President of the University of Pennsylvania Health System and Dean of the Perelman School of Medicine J. Larry Jameson delivered the Penn Medicine Report.

Lee Spelman Doty, chair of the Audit & Compliance Committee, presented a resolution to approve the audited financial statements for fiscal year 2021. The resolution was approved.

Dhananjay M. Pai, chair of the Budget & Finance Committee, presented resolutions to authorize the purchase of property at 217 Harrisburg Pike, Lancaster, PA, for $20.3 million; and to install a cross-tie and extension of the existing 34th Street chilled water line, at a cost of $9.8 million. Both resolutions were approved.

Trustees chair Scott L. Bok presented a resolution to appoint Dhananjay M. Pai as a term member of the Penn Medicine Board and as a member of its Executive Committee. The resolution was approved.

The next Trustees meetings will be held on Thursday and Friday, November 4-5, 2021.