Leaders of the Interfraternity Council did not respond to multiple Spotlight PA requests for comment. I am a strong advocate for inclusion of Trustees on the PSIC. Penn State trustees ratify request for major boost in state aid, Penn State trustees approve beer sales to general fan base during home football games. Lubrano and Company, Inc. The University of Pennsylvania's board of trustees is led by a New York City investment banker, one of many . Dan Greenstein, the new State System chancellor, who began working. Join us virtually at the next meeting livestream. Alvin de Levie and Steven Wagman were elected by university alumni as alumni trustees, and incumbent Brandon Short was reelected. region. It could get very expensive with regard to damaging the endowments investment performance - and all the fallout that entails. Our journalism is produced to serve the public interest not profit motives. 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. Penn State's Board of Trustees supported the 2017 changes, which included restrictions on socials, deferred recruitment from fall to spring semester, increased monitoring of Greek-letter organizations, and university oversight of misconduct adjudication. The graduate student assembly passed a resolution earlier this month, asking that one graduate student and one undergraduate be added to the board. Don't charge a professional ratethe hundreds of dollars an hour that a lawyer or financial advisor might chargeunless you have and are using special skills that justify it. For the Glory! The Penn State Board of Trustees met Friday, February 17th 2023 at the Penn Stater to vote on eight agenda action items. The COVID-19 Operations Control Center at Penn State released its plans for coronavirus mitigation, which will be in effect during May and the. Your engagement with the board is critical and necessary to supporting the success and advancement of the University. The university, in creating the new compliance model in 2017, cited research that Greek life members were more likely to be heavy drinkers than the general student population and fraternity members were more likely to commit sexual assault then their peers in the general student population. I was the teaching assistant for COMM 409: News Media Ethics - one of the only undergraduate teaching assistants at Penn State. First, they legally are the university, with major decision-making powers. In partnership with the president, the board seeks to advance the institution while acting in the best interests of the University community. Including a plethora of interpretations/viewpoints that would significantly restrict investment options in the Penn State Endowment for non-financial reasons. fees paid from the Penn State endowment to outside investment advisors had averaged $10 . How to calculate a reasonable fee is one questionwhether or not you should accept it is a wholly separate issue. Donate to the Collegian by clicking the button below. StateCollege.com provides local news, entertainment, and information for State College, PA. We offer the latest breaking news and videos straight from the Centre County region in Central PA. 220 Regent Court, Suite B, State College, PA 16801, Copyright 2000 document.getElementById('copyright').appendChild(document.createTextNode(new Date().getFullYear())) | StateCollege.com | All Rights Reserved | State College, PA Centre County Central Pennsylvania Home of Penn State University. Who are the people most likely to do the right thing? Bognet graduated in 1997 and went on to a career in business and politics, as he ran for a seat in Congress this past fall. President Neeli Bendapudi also implemented a sweeping 3% budget cut. the success and advancement of the University. Proposed Changes in Room and Board Charges for 2023-24 Academic Year. There are, however, some circumstances in which you might want to choose to forgo compensation. I am not a first generation college student but I do have siblings that are/have attended college. 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. Several of these action items have further details; you can read the. For certain, those who advocate for ESG interpret that language as something very, very different. ], Proposed Naming of the Building Located at 2137 Research Drive, State College in CATO Park to the Lidia Manson Building CATO Park (Action Item 2), Proposed Authorization to Expend Funds, ICA Facility Investments, University Park (Action Item 3), [Approval of $7.5 Million Intercollegiate Athletics (ICA) spending, financed via debt, to add a video board, sound system, and other ancillary items to the football practice fields.]. 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. An inheritance, on the other hand, isn't taxable income. Learn more about addressing the board and how to sign up. Under state law, fees are usually calculated either as a percentage of the total value of trust assets or a percentage of the transactions you make (the money that goes in and out of the trust). The university has raised $8 million for the project so far. Robert M. Frey, Attorney-at-Law, Frey & Tiley, P.C. For example, 10 years ago a manager considering an investment in TESLA would certainly, if looking solely at their financial statements, not make such an investment (TESLAs financial positions at that time were awful, compared to its peers). The Project Gutenberg eBook of Historic Jamaica, by Frank Cundall This eBook is for the use of anyone anywhere in the United States and most other parts of the world at no cost an Our readers keep us independent, beholden to no outside influence, and accessible to everyone whether they can afford to pay for news, or not. Get weekend previews and weekend recaps from The Daily Collegian Sports staff sent to your inbox. . This is commonly referred to as ESG, or Environmental, Social, and Governance investing. This button displays the currently selected search type. Anytime you incorporate non-financial restrictions, and limit options, you are going to be operating in a sub-optimal fiscal manner. Note: The date in parentheses following each name indicates the year in which the term will expire. Spotlight PAs free weekly newsletter and get our In recent years, these requests for taxpayer dollars have averaged over $500 million per year, over and above the "General Appropriation". And I will admit, although Im not proud of it, there was a certain amount of name-recognition ultimately involved in many of my votes. In July, the board voted to raise tuition by 5%-6% to help increase revenue. The younger programmers default to these statistics when determining which problems to fix. Board members serve as bridges between Penn's schools and centers and the community beyond campus boundaries. In three of the past four completed fiscal years, the boards annual spending was more than $300,000, the exception being the pandemic-affected 2020-21 fiscal year when the trustees spent $89,168, according to the finance reports. I encourage you to watch it in its entirety. Penn State trustees on Friday promised to move forward with a detailed evaluation of changes recommended by former FBI director Louis Freeh in response to the child sex-abuse scandal that . In July, the board voted to raise tuition by 5%-6% to help increase revenue. Email notifications are only sent once a day, and only if there are new matching items. STATE COLLEGE Penn States Board of Trustees spent nearly $318,000 on its past six in-person meetings, covering the travel, lodging, food, and other expenses of attendees, according to newly released records. The board's Subcommittee on Compensation said his salary got bumped . She is a senior studying digital and print journalism with a minor in creative writing through Schreyer Honors College. Many trustees do, and it's certainly appropriate to be paid for the real work that comes with serving as a trustee. Many on the Board seem to think it does not indicate any change at all to the existing investment policy. Hundreds of Penn State faculty are publicly and privately questioning university leadership. Fax: (814) 863-4631 I am an advocate for many of those projects in principle. our exclusive reporting, plus the most important news and events from The board uses The Penn Stater Hotel & Conference Center which the university owns but is expected to sell this fall for some of its meetings at University Park. 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. Wyatt Massey of Spotlight PA State College, agreed to tighten some of its Greek life rules, recognizes more than 60 Greek-letter organizations, register State Pattys weekend social events, Unequal election policies disenfranchised Pennsylvania voters in 2022, by Kate Huangpu of Spotlight PA and Carter Walker of Votebeat, How anxiety came to dominate the big business of medical marijuana cards in Pennsylvania, Thousands of Pa. homeowners feel stuck in a high-stakes game of telephone with their homes, vital utilities on the line, What the public can and cant know about Four Diamonds, beneficiary of Penn State THONs fundraising, Grudges, tribalism, and infighting rife in Pennsylvania borough that hired the cop who killed Tamir Rice, by Min Xian of Spotlight PA State College, A complete guide and amendment tracker for proposed changes to Pennsylvanias Constitution, Penn State English teaching faculty say they arent paid a living wage, by Wyatt Massey of Spotlight PA State College. (Tim Shaffer/Reuters) Penn State's Board of Trustees was blasted today in a newly released report on how the school handled the Gerald Sandusky child abuse debacle, accused of failing in. Editor in Chief. For the past six meetings, the trustees spent more than $75,000 total, or an average of roughly $12,500 per meeting. None of us, today, can know where this will end up. Interested to expand my network of PSU alums because all voices deserve to be heard, and all are . The struggle continued for three long years and finally in 2012 a newly established IOB bank close to his business unit lent him INR 24,000 which he successfully repaid. To someone like myself, who works in the investment management field, considering other factors aside from pure financials is common and prudent. Edward B. foundations and readers like you Spotlight PA is different. Now lets translate that into action and create a new Board of Trustees! Last year, USC's. . It's hard to argue with taking payment for your time and effort. Next, the citizens of Pennsylvania and the commonwealth itself have some stake in the university since the name Pennsylvania State University implies a connection. For example, the largest university in the state by budget the University of Pennsylvania, whose $12.7 billion total operating budget and $3.7 billion academic operating budget exceed Penn States $7.7 billion and $2.7 billion respectively has over 50 members on their Board of Trustees. STATE COLLEGE (MCT) - Two candidates for Penn State board of trustees in the crowded field have dropped out of the race. Piazza added that he believes the 2017 measures were a good start but did not go far enough. Penn State Greek Life has faced multiple scandals and allegations of misconduct, including the death of a freshman in 2009. A final stakeholder is the faculty and staff of the university. Second, who are the people most likely to do the right thing? The financial disclosures for the six meetings from September 2021 to July 2022 were among materials made available for the trustees Committee on Governance and Long-Range Planning meeting Sept. 22. More perhaps than any man I know? So there we have all our criteria. If you're interested in submitting a Letter to the Editor, click here. Steven B. Wagman (2024) National Healthcare Business Leader, Randall Randy E. Black (2023) CEO and President, First Citizens Community Bank, Donald W. Cairns (2024) Owner/Operator, Cairns Family Farm. I cannot support increases to student fees for housing and food service unless and until we rein in the costs of these capital projects which directly impact the cost of room and board charged to students. PHILADELPHIA (AP) - Penn State's board of trustees is dominated by a few wealthy and well-connected insiders, demands permanent secrecy, silences dissent and is in dire need of reform,. Monday - Friday The University's Official News Source. Lubrano and Company, Inc. William F. Oldsey (2022) Independent Consultant/Educational Publishing. The Daily is reporting that former Penn State head football coach Joe Paterno had close business ties with board members of The Second Mile, the charity founded by alleged child molester and former Nittany Lions assistant coach Jerry Sandusky. This leads us to the question of how many total Trustees should Penn State have? Rudy Glocker, a Nittany Lion letterman on the ballot in the race, said For example, in May 2022, the board paid $10,858.54 for Barron video and Fleet.. Then third, how do we define what the right thing is for Penn State?