September 13, 2002

Trustees Board Discuss University's Finances

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The Cornell University Board of Trustees Executive Committee held their quarterly meeting yesterday in New York City.

Among the items that the Committee addressed in open session were the record-breaking University gift results. That amount totaled $363 million in the last fiscal year, according to Henrik N. Dullea ’61, vice-president for University relations.

Cornell’s gift totals were the third highest in the nation behind Harvard and Stanford Universities. Private alumni donations accounted for the highest collection of private alumni contributions among universities throughout the country last year.

“That is really extraordinary in New York state considering [the aftermath of] Sept. 11 and its effects on the economy,” Dullea said.

In addition to the presentation of financial gifts, other items on the agenda included a report from the Building and Properties Committee. That sub-committee delivered an update on the status of various utilities and renovations in progress around the University.

The Executive Committee presentation included a report from President Hunter R. Rawlings III and the approval of new rules and regulations for traffic and parking procedures.

The Executive Committee meets every three months in New York City and each May in Ithaca during the general Board of Trustees meeting.

According to Committee bylaws, the Executive Committee consists of the chair of the Board, the vice chairpersons and ex-officio members.

The Executive Committee’s responsibilities include the creation of an annual plan of financial operation for the University with the exception of the Medical College and the Graduate School of Medical Sciences as well as the fixation of the presidential salary and the evaluation of the President’s performance every few years. The Committee also oversees policies concerning retirement, fringe benefits, affirmative action programs, grievance procedures and employment practices for University personnel.

Archived article by Ellen Miller