Temple names new associate vice president for budget and fiscal affairs
Temple University has named Vanessa R. Rose, an assistant vice president at Detroit's Wayne State University, as associate vice president for budget and fiscal affairs.
Rose will join Temple effective August 8, 2005, succeeding Richard Chant, who first joined the University in 1983 after serving as director of the operating budget for the city of Philadelphia.
"Vanessa Rose brings a wealth of financial management and planning experience to Temple, including serving the past 10 years in higher education," said Martin Dorph, Temple vice president and chief financial officer. "She will be instrumental in helping us continue a trend of improving financial strength at Temple."
For example, in May, Standard & Poor's Ratings Services upgraded its Temple rating to A+; one year ago, Moody's upgraded Temple's long-term underlying debt rating from A2 to A1. S&P said that its rating upgrade "reflects improvements in a number of areas [at Temple], such as a larger applicant pool and increasing student quality, growing enrollment, growth in sponsored research, a modernized campus infrastructure, and growth in private gift-giving to the University."
Temple's total spending is approximately $902 million annually and Temple's assets (excluding the physical plant) have grown 143 percent to almost $500 million over the past 10 years. A just-released report found that Temple's annual direct expenditures generate $3.1 billion of economic activity in Pennsylvania.
"I am excited to be joining Temple, and I am looking forward to contributing to its ongoing growth and transformation," said Rose, a certified public accountant who holds a master's degree from Old Dominion University and a bachelor's degree from the University of Virginia. "The changes at Temple - from record-high student credentials to aggressive faculty hiring and $400 million in construction projects - are making the University one of the most-talked-about institutions in higher education circles. I can't wait to be part of it."
At Wayne State, Rose was responsible for developing the annual budget, evaluating funding needs and identifying funding options relative to that university's strategic needs. She recently led an effort that identified more than $14 million in annual savings, and she led the implementation of improved systems in grant administration, human resources, financial aid and other functions.
Prior to joining Wayne State in 1995, Rose held accounting and financial positions with several large corporations.