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Commencement Weekend Meeting
Brown Corporation approves budget, adopts new governance plan
At its regular meeting May 24, 2003, the Corporation of Brown University approved a $512-million operating budget, authorized issuance of tax-exempt bonds, authorized several major campus planning initiatives, and adopted a proposal for restructuring the Corporation’s own governance procedures.
PROVIDENCE, R.I. — On Saturday, May 24, 2003, at its
regular Commencement Weekend meeting, the Corporation of Brown University:
- approved a $512-million operating budget for the 2003-04 academic year;
- authorized the issuance of tax-exempt bonds through the Rhode Island Health
and Educational Building Corporation. The bond issue will support various
construction and renovation projects, including the Life Sciences Building;
- approved planning for a comprehensive fund-raising campaign;
- authorized further planning studies for additional academic facilities along
a possible walkway between the Pembroke Campus and Lincoln Field. That walkway
was outlined by a consulting architect in the preliminary master plan for
campus;
- adopted changes to the University’s system of non-academic discipline
recommended by a review committee and by the Office of Campus Life and Student
Services;
- authorized a planning study for expanding and renovating housing for
graduate, medical and undergraduate students and improving undergraduate
residence halls, and a second planning study for upgrading campus dining
facilities, social spaces, fitness centers and other student life facilities;
and
- adopted a proposal that will restructure the Corporation’s governance
procedures.
“The trustees and fellows of the Corporation worked through an agenda
of far-reaching proposals that will sustain the University well into the next
decade,” said Brown Chancellor Stephen Robert. “The Corporation
remains unanimous and enthusiastic in its support of the Initiatives for
Academic Enrichment. By adopting changes to its own governance, the Corporation
has reiterated its intention to be an effective and willing partner in achieving
the University’s ambitious goals and realizing its bright
future.”
Other actions taken by the Corporation included:
- election of new trustees: Alain J.P. Belda P’05, ’07; Cornelia
Dean ’69; Galen V. Henderson, M.D. ’93; Bobby Jindal ’92;
Samuel M. Mencoff ’78; Kenneth J. O’Keefe ’76; Eileen M.
Rudden ’72; and Laurinda Hope Spear ’72;
- establishment of the Craig M. Cogut ’75 Visiting Professorship in
Latin American Studies;
- election of board members for the governing bodies of the Thomas J. Watson
Jr. Institute for International Studies, the John Carter Brown Library, and the
George A. and Eliza Gardner Howard Foundation; and
- appointment of Russell C. Carey as vice president and secretary of the
University, effective July 1, 2003. Carey will oversee the implementation of the
expanded governance and advisory bodies.
The budget
The $512-million budget approved by the Corporation represents an 8.7-percent
increase over the current year, including:
- a 15-percent increase in the undergraduate financial aid budget to support
the University’s continued commitment to need-blind financial aid and to
fund the full needs of returning students who receive financial aid;
- a 9-percent increase in graduate student support, which includes the cost of
a large increase for health insurance;
- funding for a new mainframe computer and upgrades to the campus computing
and network infrastructure;
- initiation of construction for at least three new academic facilities: the
new Life Sciences Building, a Jewelry District building to be retrofitted as a
research center, and a building to be renovated as a storage annex for the
University library;
- increased funding for public safety.
Funding the 2003-04 budget will require significant effort from all parts of
the University:
- an average reduction of 3 percent in the operating budgets of the
University’s administrative departments and no inflationary increase for
non-salary budget lines;
- a 4.4-percent increase in undergraduate tuition and fees, approved in
February;
- a 2-percent increase in revenue from the endowment;
- use of $6 million in quasi-endowment funds, to be repaid into the endowment
during the next capital campaign;
- a 30-percent increase in current-use annual giving, to $22 million;
- a 12-percent increase in support for sponsored research conducted by
faculty.
Corporation governance
The Corporation of Brown University, established by the Charter of 1764, is
one of the oldest higher education governing bodies in North America. While the
Charter has remained essentially intact for 239 years, it has given the
Corporation authority to organize itself for the work it needs to do and to
adjust its organization as necessary.
As the University began work on its Initiatives for Academic Enrichment, each
of the major constituent groups – the faculty, the administration and the
Corporation – reviewed and streamlined its governance structure. During
its review, the Corporation determined its members had a generally high level of
satisfaction with their experiences but that they wanted a more intensive
involvement in the long-term challenges facing the University and more
opportunity for policy-level discussions.
The proposal adopted by the Corporation will:
- reduce the number of standing committees from 21 to 11, only seven of which
will meet during the three regularly scheduled Corporation weekend
sessions;
- allow more time for committee meetings with a focus on strategic discussions
rather than operational details;
- establish a system of advisory councils and visiting committees to involve a
wider circle of leadership beyond the Corporation in the University’s
affairs and to provide ongoing engagement for emeriti members of the
Corporation;
- create a President’s Leadership Council of alumni, parents and friends
of the University which would meet annually on campus to advise on issues facing
the University;
- provide for a future review of the governance structure and for recommending
any necessary adjustments or modifications.
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