Penn President Amy Gutmann met with University officials and the Board of Trustees yesterday afternoon to discuss a strong endowment return, faculty appointments and newly acquired property for the University.
- Gutmann announced the launching of the largest capital campaign in Penn's history.
She also spoke about the large number of buildings being completed now, including a new Annenberg Center for Public Policy and a fitness facility on the north side of Franklin Field.
- With regard to the University's impressively high $6.6 billion endowment, Gutmann said, "Our University endowment has grown significantly - 65 percent over the last three years."
She pointed out that Penn added nearly $450 million in new commitments and broke all previous records in annual giving.
- University Provost Ron Daniels discussed the large number of incoming faculty and introduced a resolution on faculty appointments, leaves and promotions, which included the designations of Andrew Porter and Thomas Robertson as the deans of the Education Schools and the Wharton School of Business, respectively.
The resolution passed.
- Executive Vice President Craig Carnaroli praised Penn's financial strength, especially in the Health System, which outperformed financial expectations.
- John Clark, Budget and Finance Committee chairman, introduced four resolutions: a resolution to begin phase two of campus electrical infrastructure upgrades; a resolution to authorize the design of a new "Penn Park" on the newly purchased postal lands; a resolution to purchase 3928 Spruce St.; and a resolution to authorize the renewal of the lease of the School of Medicine Treatment Research Center's at 3900 Chestnut Street.
All four resolutions passed.+
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