A Closer Look
Projects Supporting Revenue Development
The Business Services Division generates revenues and income from a portfolio of over fifty different services to the Penn Community.
The Business Services Division generates revenues and income from a portfolio of over fifty different services to the Penn Community. During FY18 this included over $150M of revenue that netted nearly $30M in operating margin. The operating margin is defined as the net revenue before retirement of internal debt, allocated cost payments and reinvestment to/from reserves. Economic surpluses are reinvested into services provided by the Division and facilities in order to improve the lives of our students, faculty, staff and others in our community.
Major facilities projects funded by the Division and completed during FYs 18 and 19 include:
- An $80M renovation of the Hill College House which included full replacements and renovations of major systems, interior and exterior spaces and the opening of a re-imagined dining hall with a new layout and variety of food stations.
- A $15M renovation of the Houston Market which included enhancements to the kitchen, serving and seating area and the introduction of new dining concepts.
- Over $8M of renovations to our two campus hotels.
- Over $10M of infrastructure and functional improvements to University parking garages.
In addition to the projects noted above, the Division will be initiating a full renovation of the historic Quadrangle as well as complete the upgrading of air-handling and other systems in other resident halls over the next year.