At the Trustees Winter Stated Meeting on February 28, Trustees Chair David L. Cohen presented a Memorial Resolution for John B. Neff (H’84) the legendary emeritus trustee who grew Penn’s endowment, substantially outperforming the market, from $200 million to $3 billion (Almanac July 16, 2019). 

The Trustees approved the resolution to amend the Statutes to reflect the new name change from Penn Law to the University of Pennsylvania Carey Law School (Almanac November 12, 2019).

President Amy Gutmann presented a resolution of  appreciation for John Horn, who has been Penn’s comptroller since 2005 and who advocated and implemented shared governance. Mr. Horn is now retiring from Penn.

Then, the President presented the resolution to appoint Stacey Lopez as vice president for institutional research and analysis (see Stacey Lopez: Vice President for Institutional Research and Analysis article), noting that Dr. Lopez’s office has been doing critically important and expanding research.

Provost Wendell Pritchett noted that former Annenberg Dean Michael Delli Carpini has been named to a new role as the faculty director of the Paideia Program (Almanac November 5, 2019).

Penn’s Executive Vice President Craig Carnaroli presented the Financial Report for the six months ending December 31, 2019. For the Consolidated University, the total net assets were $20.1 billion, $2.0 billion above prior year. The $227 million increase in net assets from operations was $38 million above prior year due to strong performance from the Health System. Expenses of $5.5 billion were $423 million above prior year with compensation being the significant portion.

Dean Larry Jameson gave the Penn Medicine Report; he noted that PJ Brennan, chief medical officer and senior vice president of UPHS , is in frequent contact with the CDC and other federal agencies about the new coronavirus and that Penn is continuing to coordinate and disseminate information accordingly.

A resolution was passed to increase the number of board members of PennPraxis and amend its Bylaws.

Another resolution approved the establishment of a master of healthcare quality and safety in the Perelman School of Medicine, growing out of an existing concentration and certificate program. 

PricewaterhouseCoopers has once been appointed as the independent accountants to audit the financial statements for the fiscal year.

The annual resolution on tuition, fees and other student charges and financial aid for academic year 2020-2021 was passed (see 2020-2021 Tuition, Financial Aid Budget: Expanding Support for Middle-Income Families article). 

There were also numerous resolutions to authorize major projects and acquisitions: 

• up to $182.5 million for design, development and construction for the Lancaster General Hospital emergency department expansion and cafeteria and kitchen relocation; 
• up to $44 million to acquire and develop parcels of land at 451 S. University Ave. and on a portion of 501 S. University Ave.;
• the Next Generation Student Systems for an additional $23.1 million;
• $19.125 million for a redundant steam line  installation;
• $17.4 million for Franklin Field concrete restoration phase 3;
• $12.225 million for 3401 Walnut Street façade renovations; 
• $8 million of capital funds for the transaction related to the radiation oncology facility on the campus at Doylestown Hospital;
• $12.731 million, inclusive of $6.7 in capital, for a 9.5 year lease for the Provost’s Center, Undergraduate Admissions Office and Penn Global on the 8th floor of 3535 Market Street; Penn Global’s relocation is contingent upon termination agreement of International House, which is being sold;
• $6.3 million for BRB II HVAC controls upgrade phase 2;
• $6.15 million for schematic design phase of the Quadrangle dormitory renovations; those College Houses have not been substantially renovated since 2002. 

There were also resolutions passed to authorize an application to act as a “qualified educational institution” permitted to exercise trust powers in New Jersey and another to authorize the execution of a secondary guaranty of base rent obligations under a lease for St. Christopher’s Hospital for Children. 

Mr. Cohen presented an omnibus motion to approve 10 resolutions of numerous appointments to Penn Medicine, overseer and other boards.