Trustee spending peaked over the past decade during fiscal year 2015-16, when the board spent more than $415,000 on meetings, according to older financial reports. . In partnership with the president, the board seeks to advance the institution while acting in the best interests of the University community. And I am quite sure, those types of considerations have taken place within Penn States investment management. As a special bonus, all new monthly gifts made today will be matched as 12X their value thanks to the generosity of the Lenfest Institute for Journalism. For the past six meetings, the trustees spent more than $75,000 total, or an average of roughly $12,500 per meeting. The trustees, on the other hand, are the governance that sets the strategies and policies of Penn State. In 1999-00, Ohio State s average of $70,350 was 2.5 percent below the benchmark average of $72,130. Youve been reading our work. Then third, how do we define what the right thing is for Penn State? First, who are the stakeholders? The University's Official News Source. That leaves us with 5% that can be used by the board to identify any constituencies that it may from time to time feel need a voice at the trustee level. our exclusive reporting, plus the most important news and events from A committee of the Board of Trustees, including many of its most influential leaders, has also come under scrutiny for regularly holding private meetings that potentially violate Pennsylvanias transparency law. This is commonly referred to as ESG, or Environmental, Social, and Governance investing. The following year, Penn State created the Timothy J. Piazza Center for Fraternity and Sorority Research and Reform, which helped launch a scorecard system for fraternity and sorority chapters across the country. The Town Hall, held via ZOOM session, was put together by PS4RS - and is available at the link below. The non-trustee members of all other bodies, boards of advisors and other boards and formed by the Trustees, with the exception of the Investment Board and the Penn Medicine Board and Penn Medicine Executive Committee, shall be nominated by the Chair of the Trustees and the President and elected by the Trustees for terms of three years unless . Note: The date in parentheses following each name indicates the year in which the term will expire. And how do we define what the right thing is? Monday - Friday But we have fallen well short of the mark in the last decade. Your use of this website constitutes acceptance of the Terms of Use, Supplemental Terms, Privacy Policy and Cookie Policy. In recent years, these requests for taxpayer dollars have averaged over $500 million per year, over and above the "General Appropriation". Every day the university chugs along. Obviously the alumni, and current students by virtue of their pending alumni status, are the largest stakeholders. Robert M. Frey, Attorney-at-Law, Frey & Tiley, P.C. At least mine. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply. Many trustees do, and it's certainly appropriate to be paid for the real work that comes with serving as a trustee. UCLA and USC bolted the Pac-12 for the Big Ten in the summer of 2022 and will begin competing in the richest conference in college athletics ($1.1 billion per year in TV deals) in 2024. region. During its May 7 meeting, the Penn State Board of Trustee's Committee on Governance and Long. You'll probably also be in charge of determining the amount of your own compensation. I hope you appreciated this article. How often are Penn States private planes flying during a budget crunch? Hazleton, Pennsylvania native Jim Bognet has been connected to Penn State his entire life. I encourage you to watch it in its entirety. Johns University, Executive Director and Portfolio Manager,PGIM Real Estate, National Healthcare Business Leader, Siemens Industry, Inc. Smart Infrastructure Division, CEO and President,First Citizens Community Bank, Senior Vice President,Senior Commercial Banker,Reliance Bank, Retired Chief Operating Officer, Liberty Property Trust, Retired President,CEO and Director,ADT Corporation, Retired Chief Executive Officer, Prologis, Former Project Manager,The Vanguard Group, President and CEO, North American Meat Institute, Chief Brand Officer, Hilton(Chair of theBoard of Trustees), College of the Liberal Arts, Penn State University, Professor of Sociology,Penn State Altoona, Assistant General Counsel, Buzzfeed, Inc.; Immediate Past President, Penn State Alumni Association, Office of the Board of Trustees Everyone deserves access to the facts. Its members include the university's president, the Governor of the Commonwealth, and the state Secretaries of Agriculture, Conservation and Natural Resources, and Education, as well as a representative for the Governor. A final stakeholder is the faculty and staff of the university. Check the list of upcoming meetings and recent news for more information on livestream dates and times. Receive all the latest news and events right to your inbox. Your engagement with the board is critical and necessary to supporting the success and advancement of the University. The Board of Trustees will be asked to consider and approve Penn State's operating budget on July 15, 2021. If we assign three board seats to the state, two to the faculty and one to the board for their use in filling a voice, we have a total of 30 trustees, and we hit our percentage goals above almost exactly. I think they were all deemed to be permanent for the benefit and safety of the students.. The information provided on this site is not legal advice, does not constitute a lawyer referral service, and no attorney-client or confidential relationship is or will be formed by use of the site. In a statement, DuBois said the board is aware of meeting costs and has worked for years to save money. Trustees are usually not paid for their duties, but they sometimes are. The board's Subcommittee on Compensation said his salary got bumped . The board has made some, and continues to explore, changes to reduce costs, including remote off-cycle committee meetings, remote attendance for trustees, moving the full board meeting to the Eric J. Barron Innovation Hub Building, limiting the number of administrators and staff who are working at meetings and changing streaming services from WPSU to Microsoft Teams managed by Penn State IT, DuBois said. But I know we can be and have been in the past. The costs of several items making up the Housing and Food Services (HFS) budget have increased, and it is criticalin my opinionthat HFS operate on a balanced budget. Learn more about the purpose, goals, and members of each standing committee. ], Proposed Annual Applications, Renewals and Other Filings Required by the Pennsylvania Liquor Control Board. The group made local news last week after allowing its fraternities to register State Pattys weekend social events for the first time since 2011. Sign up for With gratitude, In July, the board voted to raise tuition by 5%-6% to help increase revenue. In the World According to Hook, the easiest definition is those things that further the purpose of the university. Mycommitment is to continue to work with each of you to ensure our focus, as a board, remains on strategic matters such as affordability, financial management, innovation, the future of higher education and ensuring Penn State is an inclusive environment for all., Your engagement with the board is critical and necessary to support. It was an email that I had expected because a week or two before that trustee campaign signs started popping up on the streets around Happy Valley. Otherwise, we will always be behind. For example, in May 2022, the board paid $10,858.54 for Barron video and Fleet.. As announced by The Pennsylvania State University Board of Trustees Wednesday night, Bradley will assume head coaching duties for the Penn State Football team for the . As a special bonus, all new monthly gifts made today will be matched as 12X their value thanks to the generosity of the Lenfest Institute for Journalism. This article and all of our journalism are available to you at no cost thanks to our supporters. our region. Previously, independent Greek-letter councils oversaw misconduct investigations. The other members include six trustees appointed by the Governor, nine elected by alumni, six elected by Pennsylvania agricultural societies, six by a board representing business and industry enterprises, 3 at-large, 1 student, and 1 academic trustee. When the video of the meeting is released I will post a link to it on my website, https://barryfenchak4trustee.com. Penn students want voting rights on its board of trustees, like some other colleges. Editor in Chief. Learn more about who members represent on the Elections page. This will provide the best opportunity for the university to be responsive to the desires of its lifeblood those who are and were educated by Penn State. Including a plethora of interpretations/viewpoints that would significantly restrict investment options in the Penn State Endowment for non-financial reasons. Junker joined Marine Bank in 1964. Email: bot@psu.edu, Hours: 8:00 a.m. to 5:00 p.m. EST Will you do your part today by making a contribution? The bulk of those expenses are for lodging, meals and break services, and other services, and that most of those are provided by university entities, Kleppinger said. The board comprises thirty-six voting members and two ex-officio non-voting membersthe President of the University and the Governor of the Commonwealth of Pennsylvania. On this Wikipedia the language links are at the top of the page across from the article title. The Penn State Board of Trustees passed a motion to fund a renovation to the Lasch Building during their virtual meeting on Friday afternoon. Second, who are the people most likely to do the right thing? Your support enables us to continue to produce tough, unique reporting you wont find anywhere else. As Penn States governing body, the Board of Trustees takes a holistic approach to guiding goals, policies, and procedures as well as reviewing and approving University budgets. In order to achieve our goals we must have people to guide and lead the way for us. University officials said they are exploring other ways to increase revenue, which typically comes from tuition and state appropriations. Share your thoughts with the board at an upcoming meeting. You do not seek power or popularity. Penn State's Board of Trustees elected or appointed six incumbent trustees and five new members during its meeting Friday. As a service to alumni and the public who were unable to access the live broadcast of the meeting, the following is an excerpt of the comments I prepared and the vote results for each agenda item. Especially in tighter economic times, people should not be forced to choose between the essentials, and essential news. Penn State currently recognizes more than 60 Greek-letter organizations, grouped under four governing councils, and lists eight suspended fraternities on its website. This article and all of our journalism are available to you at no cost thanks to our supporters. [4] Regular meetings of the board are held bi-monthly and take place primarily on the University Park campus, although on occasion meetings are held at other locations within the Commonwealth.[5]. Board of Trustees | Penn State University. However, the document notes that hazing and other safety concerns, including sexual misconduct remain a concern and returning to full self-governance, especially for Greek groups connected to the Interfraternity Council, could undo positive changes gained from the 2017 changes. . We have no billionaire owner or shareholders to consider. Download this stock image: Penn State interim head football coach Tom Bradley, right, arrives for a press conference with interim athletic director Mark Sherburne, left rear, in State College, Pa., Thursday, Nov. 10, 2011. He had eight years left of that ten-year . To do that I need to ask three questions: Who are the stakeholders of Penn State University? We dont believe vital investigative and public-service journalism should be hidden behind a paywall or only for those who can afford a subscription fee. Monday - Friday The previous fiscal year, 2014-15, the trustee meetings cost nearly $406,000. Adding the sentence citing social and environmental considerations to the existing language of The Universitys funds will be invested to achieve maximum return with an acceptable degree of risk may seem like a clear phrase, but it is not. The pledge cost Penn relatively little; the market value of its endowment increased by 38 percent, or $5.6 billion, in the following year. But Penn State's Board of Trustees didn't help the process, and even might have invited this latest round of speculation, by debating $48.3 million in football upgrades before approving the. Sign up for Anytime you incorporate non-financial restrictions, and limit options, you are going to be operating in a sub-optimal fiscal manner. historical city of Montgomery, Alabama. Six years later, Penn States new administration appears to be easing those restrictions. 201 Old Main This story was produced by the State College regional bureau of Spotlight PA, an independent, nonpartisan newsroom dedicated to investigative and public-service journalism for Pennsylvania. Its a situation that describes how I feel about the Penn State Board of Trustees. Will you do your part today by making a contribution? . Professors, administrators and staff are being hired, producing work, managing others, getting paid and retiring. the success and advancement of the University. In January 2010, she was recruited to come to Penn State as the University's first general counsel, establish the Office of General Counsel and assist in recruiting a permanent general counsel. Copyright 2023 MH Sub I, LLC dba Nolo Self-help services may not be permitted in all states. Which is why, here, in The World According to Hook, I am proposing that the right thing is to change the membership of the Board of Trustees.
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