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February 2004 Meeting of the Corporation
Corporation approves historic 15-year Plan for Academic Enrichment
The Plan for Academic Enrichment, approved by the Brown Corporation at its regular meeting Saturday, Feb. 28, 2004, outlines more than a decade of investments in Brown’s faculty, academic programs, core academic facilities, environment for student living, and the physical campus – a program that could transform the University. (See related releases.) PROVIDENCE, R.I. — At their regular winter meeting today (Saturday, Feb. 28, 2004), the trustees and fellows of the Corporation of Brown University unanimously approved a new Plan for Academic Enrichment that will substantially enhance, increase and in some cases transform the University’s academic program and core facilities during the next 10 to 15 years and beyond. “Two years ago, the Corporation gave its unanimous endorsement to an early set of enrichment initiatives and requested that the administration continue its work and develop a more detailed and comprehensive plan,” said Brown Chancellor Stephen Robert. “The Plan for Academic Enrichment, which we approved today, is substantial – every bit as bold and ambitious as we had hoped it would be. It will guide Brown through nearly two decades of investments that will sustain and enhance an already great institution.” The plan outlines a period of focused growth and investment that will affect every area of the University:
Editors: A summary of the Plan for Academic Enrichment is available from the News Service. Some of the work outlined in the plan has been under way since the Corporation endorsed the earlier initiatives in 2002:
“Brown University is an extraordinary institution with unique academic strengths,” said Brown President Ruth J. Simmons. “The Plan for Academic Enrichment will not change the character or traditions of the University; it will build on Brown’s strengths to ensure continued growth and vigor well into the future.” Resource implications The Corporation considered resource implications of the plan, both for incremental budget growth and for longer-term capital projects. The budget for fiscal year 2005, which the Corporation approved, will include nearly $55 million in expenditures directly related to the Plan for Academic Enrichment. That figure includes budgeted support for Academic Enrichment proposals that has been added since fiscal year 2003. The cumulative figure for incremental additions to the budget could top $115 million early in the next decade. The Corporation also approved an investment of up to $56 million from reserves and other unrestricted funds to support the initial phases of the Plan for Academic Enrichment over the next six years. Revenue growth as a result of a major fund-raising campaign, together with other steps outlined in the plan, will allow the University to eliminate the need for such special funding after the six-year period. Some of the capital projects are already under way. The University already has arranged funding for nearly $230 million in new buildings, space renovation and infrastructure improvements. The Life Sciences Building currently under construction on Meeting Street and the purchase and conversion of a former factory in the Jewelry District of Providence into additional laboratory space are the largest parts of that program. Beyond those current projects, the Plan for Academic Enrichment outlines another $335 million in capital projects by the middle of the next decade. Those projects could include 150,000 square feet for faculty and academic programs, major new research space for the Program in Public Health, a new campus center, a fitness and wellness center, new parking facilities, and renovation of dining halls, residential units and other campus facilities. The Corporation also considered a number of reports at its meeting and took the following actions:
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