University of Southern California 2010 A NEW DAY FOR USC FINANCIAL REPORT University of Southern California > University Park, UGB 205 Los Angeles, CA 90089-8006 10_USCFRcover_final.R2.indd 1 12/17/10 4:48:40 AM USC celebrates a new president and a long-awaited gathering place for students 1 A New Day for USC 3 A Great Place to Be 6 2010 Academic Year Highlights 12 Report of Independent Auditors 13 2010 Financial Summary 32 Budget 2010-2011 For information and additional 40 Board of Trustees copies of this report please contact: 41 Officers, Executives and Academic Deans University of Southern California 42 Role and Mission of the University University Park, UGB 205 Los Angeles, CA 90089-8006 email:
[email protected] UNIVERSITY OF SOUTHERN CALIFORNIA FINANCIAL REPORT telephone: (213) 821-1900 > www.usc.edu 10_USCFRcover_final.R3.indd 2 12/17/10 4:48:03 PM A New Day for USC The summer of 2010 brought two historic changes to USC: the long- awaited opening of the Ronald Tutor Campus Center and the beginning of C. L. Max Nikias’s tenure as the eleventh president of the university. Nikias, who had been the university’s chief academic officer since 2005, presided over the grand opening of the Tutor Campus Center as one of his first ceremonial duties as president. He invoked the words of Winston Churchill, who said “We shape our buildings, and afterward our buildings shape us,” adding: “This building reflects our Trojan values. It gives voice to our greatest aspirations.” Throughout his career at USC, Nikias has paid particular attention to creating a dynamic, well-rounded intellectual environment for students.