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VOLUME LXXX, ISSUE 53
INDEPENDENT
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T HE T UFTS DAILY tuftsdaily.com
Monday, December 7, 2020
MEDFORD/SOMERVILLE, MASS.
WINTER EDITION 2020 Tufts’ long term assets see return of 3.7%, endowment grows in 2020 fiscal year by Jack Hirsch
Contributing Writer
Tufts’ Total Return Pool, where a majority of the university’s longterm assets are invested, saw a return of 3.7% for the fiscal year 2020. The endowment grew from $1.91 billion at the end of FY 2019 to $1.94 billion at the end of FY 2020, according to Tufts’ Annual Financial Report.
Craig Smith, co-chief investment officer ad interim, wrote in an email to the Daily that this return met the university’s expectations. “In any given year, the performance of the primary endowment portfolio (the ‘Total Return Pool’ or “‘TRP’) will be heavily influenced by global capital market returns,” he said. “On a
TCU Senate unanimously passes EP/F resolution by Alexander Janoff News Editor
The Tufts Community Union Senate passed a resolution and heard end-of-semester “State of the Union” addresses from TCU Senate Diversity Officer Mathew Peña, TCU Senate Treasurer Sharif Hamidi and TCU President Sarah Wiener, in its last meeting of the semester on Sunday. Members also reviewed supplementary funding requests. After TCU Senate Historian Sarah Tata led a brief roll call and the body welcomed its newly elected members, TCU Senate Parliamentarian Taylor Lewis led the body in a discussion of a resolution calling on Tufts University to extend Exceptional Pass/Fail grading for the spring 2021 semester. The resolution, authored by TCU Vice President Grant Gebetsberger, Africana Community Senator Amma Agyei, Education Committee Chair Iyra Chandra, Trustee Representative Ayden Crosby and Wiener, passed the TCU Senate unanimously with 31 senators
voting in favor, none opposed and none abstaining. In speaking about the resolution, which will call on Tufts faculty to vote in favor of extending Tufts’ Exceptional Pass/Fail grading into the spring semester in its faculty meeting, the authors discussed the message of the resolution. “I think the resolution is specifically important to send a clear message on behalf of students and from the Senate to faculty,” Wiener said. “It’s just really important for us to weigh in and I think it’s a really good opportunity for us to exercise our function as student government and endorse this and vote for this so that there is a record and a strong message,” Gebetsberger said. Tufts faculty will meet for a final time on Dec. 11. According to Wiener, it is likely the resolution will be read in front of the faculty before its vote. After the successful passage of the EP/F resolution, Lewis, a senior, presented a bylaw amendment to the Senate body. According to Lewis, the bylaw see TCU, page 2
EDITORIAL / page 7
Lessons learned from Tufts’ response to fall semester
one-year basis, the best assessment of the TRP performance is relative to its reference benchmark, which returned 3.0% for the fiscal year. For context, broad global equity markets returned 2.1% during this period.” According to Smith, the TRP grew from approximately $1.98 billion to $2 billion during the 2020 fiscal year.
“Each year, the value of the TRP changes due to investment returns, new gifts to the endowment, and annual distributions from the TRP to support the university’s operations and mission,” Smith said. The university’s Annual Financial Report disclosed that $1.7 billion of that $2 billion belongs to the endowment.
Smith explained the different ways in which the endowment and the revenue generated from its investments impact the university and its students. “One hundred percent of funds from the endowment work to support the university’s good works and its mission of being a student-censee ASSETS, page 2
FEATURES
What’s up with winter? by Katie Furey and Keira Myles
Staff Writer and Contributing Writer
The first snow of the fall semester came the day before Halloween. Spirits were high. Tufts students rejoiced in celebrating the snow’s descent, embracing the joy of their inner child. Jumbos snowboarded, inner-tubed and sledded down President’s Lawn’s winter wonderland of a hill. Audrey Jaramillo, a first-year, spoke of her time experiencing her first New England snow after living in sunny Miami, Fla., her entire life. “This snow was falling and I felt the coldness in my bones … It was pretty though. It was fun to crunch the snow and step in it. The festivities looked fun. I saw people sledding and doing snow angels so I feel like that’s fun,” Jaramillo said. Jaramillo reminisced about the contrast between Medford and Miami winters, noting that at her home in Florida there is not much difference between the seasons. “It’s summer in winter. It’s summer all year round. So I’m still in shorts, a tank top and flip
flops. It’s very different coming here,” Jaramillo said. Jaramillo said she applied to colleges in the Northeast desiring a change of scenery. However, after experiencing a taste of the cold, Jaramillo said she doesn’t want to live in the north for long. “I’d rather be warm than cold. Also, I don’t like to be bundled up. I like to wear dresses. I’m young, I should be showing off my body. How are you going to see me in my winter coat? You’re not! It’s not flattering,” Jaramillo said. Local meteorologists who are more accustomed to Boston winters weighed in on what they thought of the pre-Halloween snow. Kevin Lemanowicz, chief meteorologist at WFXT Boston 25 in Dedham, Mass., explained that having snow in October is not usual for the Boston area, but an early snowfall doesn’t normally accumulate as much as it did this October. “Boston had a record snowfall, 4.5 inches of snow … That kind of snow we haven’t seen just before Halloween since 2011,” Lemanowicz said. Lemanowicz said that, in a normal winter, Boston acquires its first inch of snow
ARTS / page 4
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Music that made 2020
Athletes commend initial university response to training
in November, with the coldest stretch occurring in either late January or early February, which is usually when the most snow falls. Boston acquires an average of 43 to 45 inches of snow by the end of the season. Lemanowicz said this year is following the La Niña weather pattern, similar to fall 2011. “When it’s La Niña, it just means that the water in the equatorial Pacific is colder than average, and that will change the pattern of the weather,” Lemanowicz said. “The atmosphere is connected everywhere, and if you make a blip in it somewhere, it’s going to reverberate around the globe, sort of like throwing a rock in a puddle.” During the 2011 La Niña year, there was a large snowstorm just before Halloween that was followed by a mild November. That winter, Boston saw only nine inches of snow for the entire season, and every month witnessed temperatures about five degrees above average. Lemanowicz thinks the 2011 winter could be a taste of what is to come for this winter. see WINTER, page 3 NEWS
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