The university is launching a new travel initiative that will have short- and long-term benefits, Executive Vice President Provost Bruce A. McPheron and Senior Vice President and CFO Michael Papadakis announced today.
Starting Aug. 1, individuals traveling on university business must book their flights and car rentals through Ohio State’s travel partners. People may continue to directly arrange local flights within countries where booking through outside travel agencies is impractical.
The Board of Trustees today approved the fiscal year 2019 budget, which projects revenues will grow 4.7 percent to $7.5 billion for the entire university, including the Wexner Medical Center and all campuses. Spending is projected to be $6.9 billion.
The budget reflects the university’s fiscal strength and priorities including access and affordability, academic excellence and health care.
Technology Commercialization Ohio State startup AveXis Inc. is being acquired by one of the largest pharmaceutical companies in the world for $8.7 billion.
The company develops gene therapies using research that originated at Nationwide Children’s Hospital and Ohio State. AveXis announced the acquisition agreement with Novartis on Monday. The university could realize about $2.7 million from its stake in AveXis based on current and recently sold holdings.
AveXis is focused on treatments for rare and life-threatening neurological diseases, including a form of spinal muscular atrophy that is the leading genetic cause of infant mortality. Completion of the...
Our commitment to innovative funding has garnered another big award.
IJ Global, an international finance publication, identified the university’s Comprehensive Energy Management partnership as both the winner of the North American social infrastructure category as well as the best example overall for North America in 2017.
Energy conservation measures will improve lighting at dozens of campus buildings and create a more efficient heating and cooling system for a campus laboratory building through capital projects to be launched this spring.
Ohio State's innovative approach to capital markets will save the university another $11 million through the issuance of the Series 2017 General Receipts Bonds.
On Dec. 6, the university successfully issued nearly $70 million in bonds that advance refunded the Series 2008A General Receipts Bonds. With a true interest cost of 1.9 percent, the new bond issue will save Ohio State $11.1 million in debt payments compared with the previous issue.
Ohio State was able to take advantage of favorable market conditions because of our innovative multiyear debt issuance program, which provides the university with flexibility to quickly...
Since 2012, Ohio State has pursed an innovative funding strategy that has generated $2 billion in support for the university.
These relationships, with banks, insurance companies, apparel companies, and other corporate partners have created tangible benefits for the Ohio State community.
Some examples from the past year:
Scarlet and Gray Financial Counseling provides a comprehensive suite of financial wellness services to students throughout their college careers. This Office of Student Life program has grown dramatically since it was created in 2012-13, supported largely through relationships with corporate partners. Last school year, Scarlet and Gray...
But the university community might not be familiar with the innovative source of funding for this essential resource: Ohio State's contract extension with NIKE.
That extension, valued at $252 million over 15 years, includes more than $41 million in support for the university outside of athletics. Ohio State utilized $10 million from this relationship to establish an endowment that is now providing annual support for the...
Ohio State's investment portfolio earned a +14.5 percent return for fiscal 2017, placing it among the top quartile of university endowments for the year.
The market value of the Long-Term Investment Pool was $4.25 billion as of the June 30 end of the fiscal year. Since then, Ohio State has invested $819 million in proceeds from the Comprehensive Energy Management Project in the LTIP, bringing the market value to more than $5.15 billion as of Oct. 2.
Ohio State's investment team outperformed the benchmark for each major asset class in fiscal 2017, surpassing the portfolio benchmark...