DOCSLIB.ORG

Financial Report 2012-2013

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Financial Report 2012-2013 Financial Report 2012-2013 - i - Governors and Trustees During the Year Ended June 30, 2013 Board of Governors Ralph Izzo, Chair Joseph J. Roberts, Jr. Joseph T. Cashin, Gerald C. Harvey, Vice Chair Kenneth M. Schmidt Student Representative Robert L. Barchi, ex officio Daniel H. Schulman Greg Brown Candace L. Straight OFFICERS OF THE BOARD Anthony J. DePetris Ann B. Gould, Bruce C. Fehn, Treasurer Mark P. Hershhorn Faculty Representative Leslie A. Fehrenbach, Secretary M. William Howard, Jr. Samuel Rabinowitz, Mary Claire Brennan, Gordon A. MacInnes Faculty Representative Assistant Secretary Board of Trustees Dudley H. Rivers, Jr., Chair M. Wilma Harris James H. Rhodes Margaret T. Derrick, Vice Chair John A. Hendricks Joseph J. Roberts, Jr. Dorothy W. Cantor, Vice Chair Robert A. Hering Alejandro Roman Robert L. Barchi, ex officio Mark P. Hershhorn Louis A. Sapirman Sol J. Barer Carleton A. Holstrom, Emeritus Kenneth M. Schmidt Felix M. Beck, Emeritus M. William Howard, Jr. Richard H. Shindell Gregory Bender John D. Hugelmeyer Susan Stabile Andrew S. Berns Frank B. Hundley Dorothy M. Stanaitis, Emerita William E. Best Ralph Izzo Robert L. Stevenson Michael A. Bogdonoff Paul B. Jennings, Emeritus Sandy J. Stewart Floyd H. Bragg, Emeritus Nimesh S. Jhaveri Candace L. Straight Greg Brown Roberta Kanarick Abram J. Suydam, Emeritus Dominick J. Burzichelli Tilak Lal Heather C. Taylor John Herbert Carman, Emeritus Robert A. Laudicina, Emeritus Anne M. Thomas, Emerita Peter Cartmell, Emeritus Walter L. Leib, Emeritus Michael R. Tuosto, Emeritus Mary J. Chyb, Emerita Richard A. Levao, Emeritus Laurel A. Van Leer Kevin J. Collins, Emeritus Jennifer Lewis-Hall Lucas J. Visconti Hollis A. Copeland Christine M. Lomiguen Steven M. Darien Debra Ann Lynch Marisa A. Dietrich Gordon A. MacInnes Martha A. Cotter, Carleton C. Dilatush, Emeritus Duncan L. MacMillan Faculty Representative James F. Dougherty Rashida V. MacMurray-Abdullah Menahem Spiegel, Robert P. Eichert, Emeritus Iris Martinez-Campbell Faculty Representative Evelyn S. Field, Emerita Carol Ann Monroe Michael C. Haibach, Lora L. Fong Robert E. Mortensen Student Representative Jeanne M. Fox, Emerita Patricia Nachtigal, Emerita Katherine Rose E. Yabut, Albert R. Gamper, Jr. Gene O'Hara, Emeritus Student Representative Ronald J. Garutti John A. O’Malley Ronald W. Giaconia, Emeritus Dean J. Paranicas, Emeritus OFFICERS OF THE BOARD Rochelle Gizinski, Emerita Jose A. Piazza Bruce C. Fehn, Treasurer Evangeline Gomez Sidney Rabinowitz Leslie A. Fehrenbach, Secretary Leslie E. Goodman, Emeritus George A. Rears Mary Claire Brennan, Joyce W. Harley Norman Reitman, Emeritus Assistant Secretary - ii - - 1 - KPMG LLP is a Delaware limited liability partnership, the U.S. member firm of KPMG International Cooperative (“KPMG International”), a Swiss entity. - 2 - KPMG LLP is a Delaware limited liability partnership, the U.S. member firm of KPMG International Cooperative (“KPMG International”), a Swiss entity. - 3 - Management’s Discussion and Analysis June 30, 2013 and 2012 The following management’s discussion and analysis (MD&A) provides a comprehensive overview of the financial position of Rutgers, the State University of New Jersey (the university) at June 30, 2013 and 2012, and its changes in financial position for the fiscal years then ended with fiscal year 2011 data presented for comparative purposes. Management has prepared the basic financial statements and related footnote disclosures along with this MD&A in accordance with generally accepted accounting principles as defined by the Governmental Accounting Standards Board for public colleges and universities. This MD&A should be read in conjunction with the audited financial statements and related footnotes of the university, which directly follow the MD&A. The university’s financial report includes three basic financial statements: the Statement of Net Position, the Statement of Revenues, Expenses, and Changes in Net Position, and the Statement of Cash Flows. These statements focus on the financial condition of the university, the changes in financial position, and cash flows of the university as a whole rather than the accountability of funds. In fiscal 2013, the financial reporting entity of Rutgers included 28 degree granting schools, of which 18 offered graduate programs of study. These schools are located on three regional campuses in New Brunswick (Piscataway), Newark and Camden. The university also maintains educational services in many other communities throughout the State of New Jersey. The university operates research and institutional facilities on 5,927 acres in 12 counties and 27 municipalities. The financial statements also include the financial activity of the units of the New Market Tax Credit (NMTC) Transaction (One Washington Park), which include One Washington Park Capital, LLC, RUN Investments, LLC, and One Washington Park Holdings, LLC. The One Washington Park units provide financing services to the university classifying it as a component unit blended with those of the university. The financial statements for the Rutgers University Foundation are presented discretely. The foundation was formed to aid the university in obtaining private funds and other resources to meet the needs and achieve the goals of the university. Financial Highlights The university’s financial condition at June 30, 2013 remained stable with net position increasing by 2.7% or $68.9 million. Total operating revenues increased by $29.2 million, or 2.2%, with increases of 3.9% in net student tuition and fees, and 5.0% in auxiliary net revenues, offset by a decrease of 4.5% in grant and contract revenue. Operating expenses increased 5.3% in 2013 while net nonoperating revenues increased 11.4% primarily as a result of increases in the fair value of investments. As the State University of New Jersey, the appropriation from the State represents a vital part of the university’s funding. In fiscal 2013, the State maintained the base appropriation constant with an additional appropriation for clinical legal programs on the Newark and Camden campuses resulting in an increase of $0.4 million or 0.2% in direct state appropriations. Tuition revenue is another significant source of funding for the university. In fiscal 2013, in addition to an increase in tuition rates averaging 2.7%, enrollment was at its highest with 58,182 students. As presented in the chart below, net student tuition and fees, state appropriation and grant and contract revenue are the three primary sources of revenue for the university. Other, 4.1% Contributions, 1.2% Investment Income, 3.6% Governmental Student Tuition and Student Aid, 8.0% Fees, net, 32.3% Auxiliary Income, 13.2% Grants and Contracts State Appropriations, Revenue, 16.7% 20.9% - 4 - Statement of Net Position The Statement of Net Position presents the financial position of the university at the end of the fiscal year and includes all assets (current and noncurrent), liabilities (current and noncurrent), deferred inflows of resources, deferred outflows of resources and net position (the difference between total assets, deferred outflows, total liabilities, and deferred inflows) of the university. Current assets are classified as such if they are available to satisfy current liabilities, which are generally defined as being due within one year of the date of the statement of net position. Net position is one indicator of the financial condition of the University, while the change in net position is an indicator of whether the overall financial condition has improved or worsened during the year. A summarized comparison of the university’s assets, liabilities, deferred outflows, deferred inflows, and net position at June 30, 2013, 2012, and 2011 is as follows (dollars in thousands). 2012 and 2011 amounts are restated due to the adoption of GASB 61 and 65. 2013 2012 2011 Assets Current assets $733,629 $701,518 $639,462 Noncurrent assets Endowment, restricted and other noncurrent cash and investments 993,827 1,035,461 1,242,489 Capital assets, net 2,317,877 2,218,288 2,014,777 Other assets 73,997 75,024 70,546 Total Assets 4,119,330 4,030,291 3,967,274 Deferred Outflows 27,311 51,439 18,662 Liabilities Current liabilities 425,823 371,841 328,951 Noncurrent liabilities 1,057,098 1,115,094 1,118,229 Total Liabilities 1,482,921 1,486,935 1,447,180 Deferred Inflows 21 Net Position Net investment in capital assets 1,230,405 1,193,363 1,133,976 Restricted - nonexpendable 429,035 370,518 368,203 Restricted - expendable 382,446 383,050 388,953 Unrestricted 621,834 647,864 642,550 Total Net Position $2,663,720 $2,594,795 $2,533,682 Current Assets and Current Liabilities Current assets include unrestricted and restricted cash and cash equivalents, investments that mature within one year, receivables, inventories and other short-term assets. Noncurrent assets include unrestricted investments that mature in more than a year, as well as cash and cash equivalents and investments that are restricted by donors or external parties as to their use. Receivables deemed to be collectible in more than a year are also included as noncurrent. Current assets increased $32.1 million in 2013 as opposed to a $62.1 million increase in 2012. Deferred outflows are the consumption of net position that are applicable to a future reporting period. Deferred outflows decreased $24.1 million primarily due to a decline in the value of our interest rate swaps as a result of rising long-term swap rates. As a result of these rising rates, the value of the swap
Load more

Recommended publications
  • R E V O L U T I O N a R Y 2 5 0 Y E a R S F
    R E V O 2 L 5 U F 0 T O I R Y O E N A A R R S Y MISSION BY CULTIVATING BUSINESS KNOWLEDGE, ETHICAL JUDGEMENT, AND GLOBAL PERSPECTIVES IN OUR STUDENTS, PROMOTING INNOVATIVE RESEARCH AND TEACHING, AND ESTABLISHING ROBUST BUSINESS PARTNERSHIPS, RUTGERS BUSINESS SCHOOL – NEWARK AND NEW BRUNSWICK SERVES NEW JERSEY, THE COMMUNITIES WE RESIDE AND WORK IN, AND THE WORLD. 2 REVOLUTIONIZING OUR CURRICULUM, RESEARCH, TEACHING & STUDENT SERVICES Business schools in the 21st century face unprecedented ranked No. 9 by Fortune for return-on-investment among challenges. Mega trends such as urbanization, other business schools in the nation. globalization, and digitization are transforming the way we deliver business education, changing the perceived We have a world-class faculty, fully dedicated staff, value of a business degree, and redefining its relevance talented students, and strong alumni and corporate to students, employers and society. sponsors. Our academic faculty’s scholarly work is published extensively and attracts significant research Rutgers Business School is uniquely positioned to grants. Our industry faculty and executives-in-residence face these challenges. We connect two extraordinary bring valuable business knowledge and insight from institutions: Rutgers University–Newark and Rutgers their industries into their classrooms, office hours and University–New Brunswick, with mutually reinforcing in campus mentorship programs. Both RBS-Newark and strategic priorities. RBS-New Brunswick host numerous high-impact research conferences that draw renowned scholars from all over At Rutgers University–Newark, we are leaders in urban the world. business education — reinventing the undergraduate curriculum, redefining MBA programs, and introducing We are ready for the intense challenges ahead of us.
    [Show full text]
  • VIEW the COMPLETE ECONOMIC STUDY, Phase 2
    vision42 Economic and Fiscal Impacts of Proposed LRT Services in a Pedestrianized 42nd Street on Retail, Restaurants, Hotels & Theatres in the 42nd Street Corridor Prepared by Urbanomics, Inc. November 2006 vision42 an auto-free light rail boulevard for 42nd Street Phase II Technical Studies— Anticipated Economic Impacts on Retail, Hotels and Theaters Regina Armstrong, Principal-in-Charge Tina Lund, Senior Research Associate Heidi Gorman, Economic Planner Urbanomics 115 Fifth Avenue, 2nd Floor New York, NY 10003 212-353-7465 in association with Amos Ilan and Catherine Lanier October 16, 2006 vision42 Roxanne Warren, AIA, Chair George Haikalis, ASCE, Co-Chair The vision42 proposal is a citizens’ initiative sponsored by the Institute for Rational Urban Mobility, Inc. (IRUM), a New York City-based not-for-profit corporation concerned with advancing cost- effective transport investments that improve the livability of dense urban places. This study, one of a second round of three technical studies that address key concerns about the feasibility of the vision42 proposal, was made possible by a generous grant from the New York Community Trust/Community Funds, Inc., John Todd McDowell Environmental Fund. Institute for Rational Urban Mobility, Inc. P.O. Box 409, New York, NY 10014 212-475-3394 www.irum.org www.vision42.org Economic and Fiscal Impacts of Proposed LRT Services in a Pedestrianized 42nd Street on Retail, Restaurants, Hotels & Theatres in the 42nd Street Corridor 1 Executive Summary 2 The 42nd Street Corridor: Existing Conditions 2.1
    [Show full text]
  • Financial Report 2011-2012
    Financial Report 2011-2012 - i - Governors and Trustees During the Year Ended June 30, 2012 Board of Governors Ralph Izzo, Chair Joseph J. Roberts, Jr. Kristen Clarke, Gerald C. Harvey, Vice Chair John F. Russo, Sr. Student Representative Anthony J. DePetris Daniel H. Schulman Mark P. Hershhorn Candace L. Straight OFFICERS OF THE BOARD M. William Howard, Jr. Paul Panayotatos, Bruce C. Fehn, Treasurer Robert A. Laudicina Faculty Representative Leslie A. Fehrenbach, Secretary Gordon A. MacInnes Samuel Rabinowitz, Mary Claire Brennan, Richard L. McCormick, ex officio Faculty Representative Assistant Secretary Board of Trustees Kenneth M. Schmidt, Chair Joyce W. Harley Alejandro Roman Dudley H. Rivers, Jr., Vice Chair M. Wilma Harris John F. Russo, Sr. Margaret T. Derrick, Vice Chair John A. Hendricks Louis A. Sapirman Sol J. Barer Robert A. Hering Daniel H. Schulman Felix M. Beck, Emeritus Mark P. Hershhorn Richard H. Shindell Gregory Bender Carleton A. Holstrom, Emeritus Susan Stabile Andrew S. Berns M. William Howard, Jr. Dorothy M. Stanaitis, Emerita William E. Best John D. Hugelmeyer Robert L. Stevenson Joan L. Bildner, Emerita Frank B. Hundley Sandy J. Stewart Michael A. Bogdonoff Ralph Izzo Candace L. Straight Floyd H. Bragg, Emeritus Paul B. Jennings, Emeritus Abram J. Suydam, Jr. Gregory Q. Brown Nimesh S. Jhaveri Heather C. Taylor Dominick J. Burzichelli Tilak Lal Anne M. Thomas, Emerita Dorothy W. Cantor Walter L. Leib, Emeritus Michael R. Tuosto, Emeritus John Herbert Carman, Emeritus Richard A. Levao, Emeritus Laurel A. Van Leer Peter Cartmell, Emeritus Jennifer Lewis-Hall Lucas J. Visconti Mary J. Chyb Christine M. Lomiguen Kevin J.
    [Show full text]
  • Financial Report 2013-2014
    Financial Report 2013-2014 - i - - ii - Table of Contents Governors and Trustees ........................................................................................................................................................... iv Letter from the Senior Vice President for Finance and Treasurer .......................................................................................... 1 Independent Auditors’ Report ................................................................................................................................................. 2 Management’s Discussion and Analysis (Unaudited) ............................................................................................................. 5 Basic Financial Statements Statement of Net Position .............................................................................................................................................. 16 Statement of Revenues, Expenses, and Changes in Net Position ................................................................................ 18 Statement of Cash Flows ................................................................................................................................................ 20 Notes to the Financial Statements 1. Summary of Significant Accounting and Reporting Policies ........................................................................... 22 2. Merger of Rutgers, The State University of New Jersey and the University of Medicine and Dentistry of New Jersey (UMDNJ) .................................................................
    [Show full text]
  • Rutgers 2030 Volume 2: Newark
    RUTGERS UNIVERSITY PHYSICAL MASTER PLAN RUTGERS 2030 VOLUME 2: NEWARK JUNE 18, 2015 DRAFT - 2014 1 PREFACE Rutgers University embarked on Rutgers 2030 in RBHS is considered primarily within Volume 1 although May 2013, the first comprehensive master plan in constituent elements are found across Rutgers. over a decade, and the first to incorporate Rutgers Biomedical and Health Sciences (RBHS), created The scope of input was broad, involving survey from the integration of the University of Medicine responses from approximately 8,000 members of the and Dentistry of New Jersey (UMDNJ) with Rutgers community, over thirty presentations and town hall University in July 2013. The physical master plan meetings, and meetings with many administrative complements the Rutgers University Strategic Plan, faculty, and student groups. prepared in conjunction with the Boston Consulting Group, and approved by the Board of Governors in This study would not have been possible without the February 2014, and the strategic plans of each of leadership of Rutgers University President Robert L. Rutgers’ component institutions. Barchi and support of Chancellors Nancy Cantor, Richard Edwards, Phoebe Haddon and Brian Strom. In Rutgers 2030 envisions development at Rutgers over a addition, the Physical Master Plan Executive Steering 15 year time frame, 2015 – 2030, and is comprehensive Committee, Rutgers University Facilities and Capital in its scope; taking into account buildings, the natural Planning members, Deans, staff, faculty and students and constructed landscape, transportation, and contributed invaluable insight to the development of infrastructure. The report consists of 3 volumes: the project. Volume 1: Rutgers University – New The master plan consulting team included Robert Brunswick A.M.
    [Show full text]
  • Table of Contents
    Table of Contents Letter from Governor Chris Christie 3 Letter from U.S. Senator Frank R. Lautenberg 4 Letter from U.S. Senator Robert Menendez 5 Letter from N.J. Senator Kevin J. O’Toole 6 Letter from N.J. Senator Samuel D. Thompson 7 Letter from Mayor Lorenzo T. Langford 8 Letter from NAPABA President Nimesh M. Patel 9 Joint letter from APALA/NJ Outgoing President Sapana S. Shah & Incoming President Paul K.Yoon 11 Conference Co-Chairs 13 2011-2012 APALA/NJ Executive Board 14 2012-2013 APALA/NJ Executive Board 15 2012-2013 APALA/NJ Foundation Executive Board 16 CONFERENCE SCHEDULE 20 Panels Hot Topics in Supreme Court Jurisprudence 22 The Myth of the Model Minority: Does it Target Asian Pacific Americans and How Do We Combat It? 24 Social Media and the Law 26 Diversity in Law Firms: How to Capitalize on Diversity Trends to Succeed in Your Law Firm 28 Own Your Own Career: Awareness+Aspiration+Achievement=Success 30 Pitch 101: Secrets For Success From In-House Legal Counsel to Small & Solo Law Firm Practitioners 32 Hot Topics in Intellectual Property Law in the United States, China and India 36 Cultivating the Superstar in You 38 Managing Minority & Women Owned Law Firms in the Current Economy 40 Tips, Tricks and Traps in Doing Business Abroad 44 I.C.E’s Prosecutorial Discretion – Has It Changed the Removal Landscape? 46 Presentation: Building Our Legacy: The Murder of Vincent Chin Presented by the Asian American Bar Association of NY 50 Luncheon Speakers 54 GALA DINNER PROGRAM 55 Gala Dinner Mistress of Ceremonies 56 Gala Dinner Speaker
    [Show full text]
  • Statement of Net Assets, the Statement of Revenues, Expenses, and Changes in Net Assets, and the Statement of Cash Flows
    Financial Report 2008-2009 1 Rutgers, The State University of New Jersey Governors and Trustees During the Year Ended June 30, 2009 Board of Governors M. William Howard, Jr., Gene O’Hara Ryan E. Cooke, Chair John F. Russo, Sr. Student Representative Patricia Nachtigal, Patrick M. Ryan Vice Chair Daniel H. Schulman OFFICERS OF THE BOARD Leslie E. Goodman George R. Zoffinger Bruce C. Fehn, Treasurer Gerald C. Harvey Martha A. Cotter, Leslie A. Fehrenbach, Secretary Ralph Izzo Faculty Representative Catherine A. Cahill, Robert A. Laudicina Samuel Rabinowitz, Assistant Secretary Richard L. McCormick, ex officio Faculty Representative Board of Trustees Anthony J. DePetris, Chair Gerald C. Harvey Kenneth M. Schmidt Mark P. Hershhorn, Vice Chair John A. Hendricks Daniel H. Schulman Robert L. Stevenson, Vice Chair Robert A. Hering Marijane Singer, Emerita Sol J. Barer Carleton A. Holstrom, Emeritus Susan Stabile Felix M. Beck, Emeritus M. William Howard, Jr. Dorothy M. Stanaitis, Emerita Gregory Bender John D. Hugelmeyer Sandy J. Stewart Joan L. Bildner, Emerita John Hurley Abram J. Suydam, Jr. Michael A. Bogdonoff Jeffrey M. Isaacs Arthur L. Taub, Emeritus Floyd H. Bragg, Emeritus Ralph Izzo Anne M. Thomas, Emerita Elena Buchanan Paul B. Jennings, Emeritus Michael R. Tuosto, Emeritus Dominick J. Burzichelli Kevin E. Kennedy Laurel A. Van Leer John Herbert Carman, Emeritus Walter L. Leib, Emeritus Lucas J. Visconti Peter Cartmell, Emeritus Richard A. Levao, Emeritus John E. Wade Vivian A. Chester Christine M. Lomiguen Mary Vivian Fu Wells, Emerita Mary J. Chyb Duncan L. MacMillan Curtis M. Williams II Kevin J. Collins, Emeritus Iris Martinez-Campbell George R.
    [Show full text]
  • Financial Report 2014-2015
    Financial Report 2014-2015 - i - - ii - Table of Contents Governors and Trustees ........................................................................................................................................................... iv Letter from the Senior Vice President for Finance and Treasurer .......................................................................................... 1 Independent Auditors’ Report ................................................................................................................................................. 2 Management’s Discussion and Analysis (Unaudited) ............................................................................................................. 5 Basic Financial Statements Statement of Net Position .............................................................................................................................................. 16 Statement of Revenues, Expenses, and Changes in Net Position ................................................................................ 18 Statement of Cash Flows ................................................................................................................................................ 20 Notes to the Financial Statements 1. Summary of Significant Accounting and Reporting Policies ........................................................................... 22 2. Adoption of Accounting Pronouncements ......................................................................................................
    [Show full text]
  • A Faculty and Staff Guide to Rutgers
    WORKING Together A Faculty and Staff Guide to Rutgers July 1, 2013 Rutgers Basics 3 Key Program Areas 27 Facts and Figures 4 Academic Basics 28 Our Structure 9 Schools and Colleges 28 Adult and Nontraditional Students 35 Working at Rutgers 13 Libraries 39 Navigating Rutgers 14 Academic Catalogs 39 Amenities and Fun Stuff 14 University Academic Calendars 39 Where to Go for Help 18 Accident Reporting 18 Major Clinical Programs 40 Advertising and Promotions 18 Alumni Relations 19 Major Clinical Components 40 Benefits 19 Clinical Affiliations 42 Bill Paying 19 Catering 19 Research Basics 43 Computer Support 19 Disability Accommodations 19 Research Administration 43 Email 19 Research Highlights 43 Ethics and Compliance 19 Research Resources 44 Events Calendar 20 Core Research Facilities, Centers, and Institutes 45 Facilities and Building Maintenance 20 Facilities Capital Planning and Advising 20 Fundraising and Donations 20 Maps 46 Harassment Prevention 20 Hiring Employees 20 Institutional Research 20 Insurance Issues Related to Rutgers Property 21 International Services 21 Legal Counsel, Legal Affairs 21 Logos, Branding, and Trademark Licensing 21 Mail 21 Media Inquiries 21 More Information Parking and Transportation 22 For the most up-to-date and complete Policies 22 information, rely on these sources: Print Purchasing 22 • Information for Faculty and Staff: Professional Development and Training 22 Public Safety and Emergencies 22 rutgers.edu/guide Purchasing and Procurement of Supplies, Equipment, • RU-info: 732-445-info (4636), and Services 23 ruinfo.rutgers.edu Serving Our Students 23 • University Human Resources: Teaching Resources 24 848-932-3020, uhr.rutgers.edu Telephone Service 25 Travel 25 • Points of Pride: Universitywide Communications 25 rutgers.edu/aboutrutgers/points-pride The information presented in this guide is as of June 5, 2013.
    [Show full text]
  • R U T G E R S B U S I N E S S S C H O
    RUTGERS BUSINESS SCHOOL Spring 2019 CONCEPTUALIZING THE FUTURE OF BUSINESS EDUCATION A message from Dean Lei Lei In this Spring 2019 issue of the Rutgers Business School Impact Report, our cover story highlights the 4th annual Innovations in Graduate Business Education Conference which brought together academic leaders from more than 50 business schools across the country to Rutgers. The theme of the conference – “Lifelong Learning in the Digital Era” – signals a shift in the way business schools are providing knowledge – not just to students in their 20s, but as a way of engaging with alumni when they need new knowledge to remain effective throughout their careers. We also feature timely research from Professor John Cantwell about how immigration benefits global business and professor Tobey Scharding explores whether bitcoin is an ethical currency. Two of our faculty won prestigious awards: Andrzej Ruszczynski won the George B. Dantzig Prize awarded by the Society for Industrial and Applied Mathematics and the Mathematical Optimization Society; and Joanne Ciulla received lifetime achievement awards from both the Society for Business Ethics and the Academy of Management. We were thrilled to be recognized by the Financial Times as the No. 1 public business school in the Northeast U.S. and No. 24 overall in the Americas. The Financial Times also ranked our Executive MBA program Top 10 in the world in economics, corporate strategy, statistics and manufacturing/logistics. The qualities of the Rutgers Business School brand – resilient, resourceful and responsible – are showcased in three inspiring student stories. As the anchor business school of New Jersey, we are proud to highlight the enormous positive social impact The Center for Urban Entrepreneurship and Economic Development has had on our communities.
    [Show full text]
  • Financial Report 2015-2016
    Financial Report 2015-2016 - i - - ii - Table of Contents Governors and Trustees ........................................................................................................................................................... iv Letter from the Executive Vice President for Finance and Administration, and University Treasurer ................................ 1 Independent Auditors’ Report ................................................................................................................................................. 2 Management’s Discussion and Analysis (unaudited) .............................................................................................................. 5 Basic Financial Statements Statements of Net Position ............................................................................................................................................. 18 Statements of Revenues, Expenses, and Changes in Net Position ............................................................................... 20 Statements of Cash Flows ............................................................................................................................................... 22 Notes to the Financial Statements 1. Summary of Significant Accounting and Reporting Policies ........................................................................... 24 2. Adoption of Accounting Pronouncements ....................................................................................................... 28 3. Cash and
    [Show full text]
  • Spring 2011 a Publication to Connect You with Rutgers University, Newark, in Print and Online Photo: Millicent Harvey
    Spring 2011 a publication to connect you with Rutgers University, Newark, in print and online Photo: Millicent Harvey p. 3 Elizabeth Warren Hail, Farewell, and Welcome Back: Two Distinguished Alumni Returning To Rutgers University, Newark, To Speak At Commencement by Carla Capizzi A message for the Class of 2011: Your future might be staring at you from the dais during this year’s commencement ceremonies. At two of the six campus convocations, distinguished alumni of Rutgers University, Newark, will deliver the addresses to their successors. Marc Berson The May 27 ceremony for the School of served as chief adviser to the National Law at the New Jersey Performing Arts in America. A renowned authority in Bankruptcy Review Commission. 50 most influential women attorneys “…Warren was listed Center (NJPAC) will see the return of law Prior to Warren’s being honored, yet school alumna Elizabeth Warren, ’76, commercial law and a leading academic another distinguished graduate of the the field of bankruptcy, contract, and by Time magazine as one of the nation’s leading legal scholars. consumer advocate on banking issues, law school will give a commencement Warren will both receive an honorary Warren is the Leo Gottlieb Professor of address, this one on May 16. Marc Berson, one of the 100 most Doctor of Laws degree and deliver the Law at Harvard University. She currently ‘68, will speak at the Rutgers Business convocation address. serves as Assistant to the President of School convocation. Berson is chairman influential people in Warren has led a most distinguished the United States and Special Advisor of the Newark-based real estate company, career in the decades since she to the Secretary of the Treasury on the the Fidelco Group, and is well known in the world.” attended law school at Rutgers.
    [Show full text]