The Pitt News

Pitt quietly releases socially responsible investment criteria

The Fossil Free Pitt Coalition held a sit-in in the Cathedral Learning in February to demand the board of trustees divest from fossil fuels.

By Jon Moss, Editor-in-Chief

June 16, 2020

Pitt quietly released a socially responsible investment policy statement in March, delivering another win to student activists pushing for fossil fuel divestment and endowment transparency.

Board committee approves flat endowment distribution rate

The investment committee of the board of trustees met Tuesday via Zoom.

By Jon Moss, Editor-in-Chief

June 16, 2020

Pitt will not increase the payout from its endowment for fiscal year 2021, a board committee unanimously voted Tuesday.

Op-ed | Leaving the endowment alone during the crisis is the right call

Chancellor Patrick Gallagher said he would not favor using the University endowment as a reserve to pull cash from and stave off budget cuts.

By Ilia Murtazashvili, Associate professor of public policy

June 2, 2020

There are several reasons why the chancellor’s call is the right one.

Op-ed | Pitt can and should use its endowment to get us through this crisis

At last count, Pitt’s quasi-endowment was $2.6 billion and could be used to cover potential budget cuts resulting from the COVID-19 pandemic.

By Tyler Bickford, Associate professor of English

May 26, 2020

Not to mince words: it is wrong that the Chancellor, who received a $669,738 base salary this year, would use sympathetic students as an excuse not to protect the jobs of the faculty and staff who support those students, often for wages less than one-twentieth of his.

Pitt’s budget and endowment, explained

Pitt’s budget, which reached nearly $2.4 billion in fiscal year 2020, is composed of three separate, smaller budgets.

By Jon Moss, Editor-in-Chief

May 22, 2020

Pitt’s budget, and the process to craft it, is full of jargon and specialized terminology. This guide attempts to explain how the annual University budget is put together, as well as the different pieces that compose the budget and endowment.

Pitt announces long-time CFO’s retirement

Pitt's CFO Arthur Ramicone will retire in 2018. (Photo courtesy of the University of Pittsburgh)

By John Hamilton | Managing Editor

February 20, 2018

Pitt’s chief financial officer and senior vice chancellor, Arthur Ramicone, will retire in August after a 30-year career at Pitt, the University announced Tuesday. Ramicone, 64, is the second senior vice chancellor who will step down in 2018, following Provost Patricia Beeson’s announcement that she will leave ...

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