Board Meets Off-Cycle To Increase What University Can Spend Without Its Approval
Update 5:05 p.m.: Today’s meeting and the topics discussed were not official. The meeting was held to discuss the proposed changes that will be considered by the committee on Governance and Long-Range Planning when the Board meets for its May meeting.
Spending rules for Penn State will remain unchanged until the proposed changes are discussed in May.
Original: A special Board of Trustees meeting was held earlier Thursday afternoon that resulted in some changes pertaining to Penn State administration spending powers.
Previously, Penn State needed to seek approval from the Trustees on projects that cost up to $5 million. That figure saw a 300 percent increase today meaning Penn State can spend up to $20 million without Trustee approval.
These projects include building renovations and the distribution of funds. Certain rights such as honorific road and building names must still be approved by the Board, however. This decision gives Penn State far more power — or creative control, if you will — than it’s had before in terms of spending decisions, and shows a type of leniency we haven’t seen in some time from the Board in allowing the university to make these decisions without approval.
Your ad blocker is on.
Please choose an option below.
Purchase a Subscription!
About the Author
Though the Judicial Board has final say on the timing of implementing all policy changes, it is expected the changes will take effect for the 14th Assembly if approved.
The Nittany Lions landed back in the New Year’s Six column for a few different post-week 11 bowl projections.
Send this to a friend