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Board

Committees

 

Audit Committee

The Audit Committee is a Standing Committee which selects the Foundation’s external and internal auditors, sets the audit plans with the auditors annually, reviews the annual audits of the Foundation, and reports on the audits to the Board at the first board meeting after each audit is completed.  The external auditor reports directly to the Audit Committee.  Additionally, the Audit Committee provides oversight for Foundation internal controls. 

Finance Committee

The Finance Committee is a Standing Committee and establishes and is responsible for the fiscal policy of the Foundation, including budgets and fees.  The Finance Committee must recommend the budget for the next fiscal year to the Board at its regular meeting held prior to the end of the current fiscal year.  The Finance Committee is responsible for oversight of all Foundation investments, and the acquisition, management, and disposal of all real property offered to, or held by, the Foundation.

Nomination Committee

The Nomination Committee is a Standing Committee responsible for the recruiting and screening of potential Director candidates.  The Nomination Committee works with the Directors, Officers, and University staff to recruit qualified candidates for membership on the Board; reviews candidates for elected Director positions and makes recommendations for membership to the Board. 

Policy and Governance Committee

The Policy and Governance Committee is a Standing Committee responsible for the policy and governance documents and process of the Foundation.  The Policy and Governance Committee reviews all changes to the Articles of Incorporation, Bylaws, policies, and procedures of the Board and makes recommendations for changes to the Board.

Executive Committee

The Executive Committee is a Standing Committee consisting of:  the Chair, Vice-Chair, the University President’s designee, the Chair of the Board of Trustee’s designee, and the chairs of other Standing Committees.  The Chair, or in his or her absence the Vice-Chair, presides at meetings of the Executive Committee.  The CEO also serves as a non-voting member of the Executive Committee.

  1. Meetings – The Executive Committee will meet at the call of the Chair. The presence of a majority of the Executive Committee constitutes a quorum of the Executive Committee and the affirmative vote of a majority of members present are necessary for the adoption of any resolution.  No subsequent revision or alteration by the Board of action taken by the Executive Committee affects the rights of third parties.
  2. Powers – The Executive Committee has and may exercise all powers and authority of the Board when the Board is not in session and may act in lieu of any Committee; provided however, the Executive Committee has no authority to alter, amend, or repeal the Articles of Incorporation or the Bylaws of the Foundation or to elect or appoint Directors or Officers. Notwithstanding the prohibition on the Executive Committee electing or appointing Officers, the Executive Committee may appoint acting or interim Officers; however, Officers appointed by this authority may only serve until an election occurs.