UNIVERSITY PARK, Pa. -- The Penn State Board of Trustees committees met today (Sept. 18) at the Penn Stater Conference Center Hotel.
The committees recommended the following action items for approval by the overall board:
-- The Committee on Finance, Business and Capital Planning recommended for approval a budget plan for 2015-16 that includes a request to the Commonwealth of Pennsylvania to increase general support appropriations to the University by $9.4 million. Additionally, Penn State is requesting an investment of $7.9 million to benefit a partnership between the University and the Commonwealth with a strategic goal of transforming Pennsylvania’s economy. For details, see http://news.psu.edu/story/326812/2014/09/18/administration/2015-16-budget-plan-seeks-modest-increase-state.
-- The Committee on Finance, Business and Capital Planning voted to recommend the creation of Penn State Health, a new not-for-profit entity that provides a legal structure to incorporate various health care facilities and service providers into one new health enterprise. For details, see http://news.psu.edu/story/326814/2014/09/18/administration/trustees-approve-structure-new-health-enterprise.
-- Penn State is requesting $129.2 million in capital funding from the state for fiscal year 2015-16, with a primary focus on funding major building renewal and maintenance projects. For details, see http://news.psu.edu/story/326810/2014/09/18/administration/committee-recommends-capital-budget-request-learns.
-- Sandy Barbour, director of Intercollegiate Athletics (ICA), and Rick Kaluza, associate athletic director of finance, provided a status report, which included a review of the ICA organizational structure, sports sponsorship, various measures of institutional control, five-year historical and five-year prospective financials and a capital plan overview. For details, see http://news.psu.edu/story/326839/2014/09/18/athletics/trustees-hear-financial-update-intercollegiate-athletics.
-- The Penn State Board of Trustees’ Committee on Governance and Long-Range Planning considered governance reform proposals, including plans to change the composition and size of the board. For details, see http://news.psu.edu/story/326882/2014/09/18/board-trustees/committee-proposes-changes-composition-board-trustees.
-- The Board of Trustees’ Committee on Compensation approved salary increases of 3 percent to 5 percent for four senior executives, based on the recommendation of University President Eric Barron. For details, see http://news.psu.edu/story/326823/2014/09/18/administration/boards-compensation-committee-approves-salary-increases.
-- The Committee on Outreach, Development and Community Relations learned about rapid growth in Penn State's military appreciation efforts. For details, see http://news.psu.edu/story/326825/2014/09/18/administration/penn-state-military-appreciation-efforts-grow-significantly.
The full Board of Trustees will meet Friday (Sept. 19) in the Dean's Hall at the Penn Stater Conference Center Hotel.
Penn State Public Media will stream the meeting live at http://wpsu.org/live online.