Summary of October 2023 Board of Trustees Meeting
On the recommendation of the Provost, the Board approved updates to the Faculty Handbook, the establishment of the Stern at NYUAD division, the establishment of the Jacob T. Schwartz Chair in Computer Science in the Courant Institute of Mathematical Sciences, and the renaming of the Department of Cariology & Comprehensive Care as the Department of General Dentistry & Comprehensive Care at the College of Dentistry. The Board permitted the suspension of Bylaw 81(c) to allow a faculty member’s enrollment in a PhD program at NYU. On the recommendation of the Academic Affairs committees of the Senate and the Board, the Board additionally approved two candidates to be added to a list for consideration for an honorary degree at the 2024 University Commencement or a subsequent University Commencement.
Other Action Items
The Board approved proposed amendments to the University’s Bylaws. The Board also approved amendments to the Bylaws of Long Island Community Hospital (“LICH”) and Brookhaven Health Care Services Corporation (“Brookhaven”) since as a result of the affiliation between NYU Langone Health System (the “System”) and LICH and Brookhaven, the System is the sole member of LICH and Brookhaven.
Trustee Related Matters
The Board welcomed new trustees Alan Gallo, Damaris Hernandez and Quemuel Arroyo to the Board. On the recommendation of the Committee on Trustees, the Board approved the re-election of one member of the NYU Board of Trustees; the election of one new member and re-election of five members of the NYU Institute of Fine Arts Board of Trustees; the election of four new members and re-election of nine members to the NYU School of Law Foundation Board of Trustees; and the re-election of fourteen members to each of the Boards of Trustees of the NYU Langone Health System, NYU Langone Hospitals, and the NYU Grossman School of Medicine Advisory Board. The Board also elected William R. Berkley as an Executive Vice Chair of the Board. Upon the recommendation of the University President, the Board appointed Senior Associate General Counsel Susan Sawyer as assistant secretary of the University. Finally, on the recommendation of each respective committee, the Board approved amendments to the charters of the Alumni Affairs and University Life Committee, Compensation Committee, Facilities and Real Estate Committee, and Investment Committee.
Select Committee Reports
- The Academic Affairs Committee reported on a presentation it received from Diana Arpino, Vice Provost for Academic Program Review and Doctoral Affairs, and Wendy Suzuki, Dean of the College of Arts and Science, on NYU’s self-study report, which is part of the University’s re-accreditation process. The Committee also heard a report on the University’s goals for graduation rates.
- The Alumni Affairs and University Life Committee reported on a discussion with the Office of the Dean of Students which deals with a variety of student issues.
- The Audit and Compliance Committee reported that it received a presentation on the University’s pension plans, reviewed plans for ethics and compliance, discussed enterprise risk management, and received a report on the Clery Act.
- The Committee on Trustees discussed the five previously referenced trustee-related resolutions sponsored by the Committee and approved by the Board.
- The Development Committee reported on research that indicated that if the University wishes to raise significantly more funds, it would need to increase its fundraising staff.
- The Facilities and Real Estate Committee reported on discussions related to a desire to expand the University’s graduate student housing offerings and a potential opportunity to acquire a new building in an exceptional location close to campus and public transportation.
- The Finance Committee reported on a discussion with NYU Stern School of Business Dean Raghu Sundaram about the budgeting process at the University. The Committee also reported that the University is ahead on all metrics in terms of financial performance.
- The Investment Committee reported that it received updates on the University’s search for a new Chief Investment Officer, discussed a technology fund, approved updates to the combined endowment investment policy, and reviewed endowment performance.
President Linda G. Mills opened her report with a discussion of the University’s response to news of the October 7th terrorist attacks in Israel, including the University’s immediate efforts to ensure the safety of the students studying at NYU’s campus in Tel Aviv. Dr. Mills then discussed NYU’s transformation as an institution since the 1950’s, highlighting NYU’s trajectory from a commuter school to a residential school and finally to a global network. She described several strategic priorities including claiming New York City as a technology space by collaborating across schools and empowering scholars who will tackle some of the world’s biggest problems similar to the University’s successful efforts in the area of inequality. Dr. Mills reviewed some of NYU’s chief accomplishments including its low acceptance rate, increase in the total number of applications, growth of the University’s research expenditures, and peerlessness in the arts. With respect to challenges, she mentioned financial resources, particularly based on endowment per student; decentralization; volume of research proposals; and retention and graduation rates.
NYU Tandon School of Engineering Presentation
Chair Evan Chesler opened a discussion about NYU Tandon School of Engineering (“Tandon”) by discussing some of the University’s history that led up to its merger with Brooklyn Polytechnic (“Polytechnic”), which eventually became Tandon. Trustee Chandrika Tandon spoke about Polytechnic’s history, Tandon’s diverse student body, its positive trajectory in rankings, and the desire of other schools to collaborate with Tandon because of the way technology has transformed each and every industry.
Dean of Tandon Jelena Kovačević explained that Tandon has built research around several areas including wireless technology, cyber security, health, emerging media, and sustainability. She remarked that the latest survey of the school’s faculty revealed approximately 500 collaborations and that the school is interdisciplinary by its nature. She reviewed the building blocks to a student’s experience at Tandon and highlighted several projects. Faculty and students discussed their experience at Tandon and the research they are conducting.
At the conclusion of the meeting, the Trustees went on a tour of Tandon.