Finance and Administration

The Finance and Administration Division has the fiduciary responsibility to safeguard the University's financial assets and manage its financial resources in accordance with its strategic long-term goals and in compliance with applicable laws and generally accepted accounting principles. The Division strives to share accurate and appropriate information with stakeholders in a collegial, timely and transparent way.

Budgets and Financial Reports

Operating Budget Reports

• FY 2015-16 Operating Budget
• FY 2013-14 Operating Budget
• FY 2012-13 Operating Budget
• FY 2011-12 Operating Budget

Financial Statements

• FY 2016 and 2015 Financial Statements
• FY 2015 and 2014 Financial Statements
• FY 2014 and 2013 Financial Statements
• FY 2013 and 2012 Financial Statements
• FY 2012 and 2011 Financial Statements
• FY 2011 and 2010 Financial Statements
• FY 2010 and 2009 Financial Statements
• FY 2009 and 2008 Financial Statements
• FY 2008 and 2007 Financial Statements

Financial Committees

Finance Committee Charter 

• Investment Sub-Committee Charter 
• Capital Projects Sub-Committee Charter 

Audit Committee Charter

Investment Policy

The University of the Sciences in Philadelphia has established a balanced investment policy for its endowment and similar funds. The objective is to produce a maximum total return without exposure to undue risk. Over time, the endowment is expected to earn a return equivalent to, or greater than, inflation, plus its annual spending. This will allow the endowment to maintain, or increase, its purchasing power in the future and to continue to provide a consistent level of budgetary support from these funds.

The Finance Committee of the Board of Trustees oversees the university’s endowment, with the help of an Investment Sub-Committee and an independent consultant and, on an operational level, by the Senior Vice President of Finance, who is also a member of the Investment, Audit and Finance Committees. Risk controls have been placed on both the asset allocation with the portfolio and on the specific investments that are allowed. These committees meet quarterly to monitor overall fund structure, adherence to policy, and performance for the endowment and other investments.