Board of Trustees Standing Committees
Finance and Investment Committee, 2008-2009
The Finance and Investment Committee is concerned with University policies and issues related to financial affairs and the investment of University funds.
MEMBERS
- Gary Cohn, Chair
- Regina Muehlhauser, Vice Chair
- Richard Beyer
- Edward Carr
- Marc Duber
- Nicholas Keating
- Stephen Silvia
- Jeffrey Sine
RESOURCE PERSONS
- Cabinet Member: Donald Myers
- Cabinet Member: Scott Bass
- Campus Representatives:
- Faculty Senate
- Graduate Leadership Council
- Student Government
- Alumni Association
CHARTER
Purpose
The Finance and Investment Committee is responsible on behalf of American University (University) for the oversight of policies and practices related to the University’s financial affairs and policies, performance, and investment related to the University’s endowment and operating funds.
Organization
The following are excerpts addressing committee organization from the American University By-Laws ( Article VII: Standing Committees, as amended May 14, 2004):
Section 1. The Standing Committees shall be as follows: Academic Affairs Committee; Audit Committee; Campus Life Committee: Compensation Committee; Development Committee; Finance and Investment Committee; and Trusteeship Committee.
Section 2. Nominations of Standing Committee officers and members for two-year terms shall be made by the Trusteeship Committee at the spring Board meeting. The Vice Chair of the Board shall be the Trusteeship Committee Chair, and Trusteeship Committee members shall be appointed by the Board or Executive Committee. Vacancies on Standing Committees shall be nominated by the Trusteeship Committee and approved by the Board or Executive Committee for any unexpired term. Vacancies on the Trusteeship Committee shall be filled by the Board or Executive Committee.
Section 8. The Finance and Investment Committee consists of at least four (4) trustees and is concerned with University policies and issues related to financial affairs and the investment of University funds. It reviews the President’s proposed annual budget and recommends a final budget for adoption by the Board no later than the spring meeting, and it reviews University business affairs and the upkeep of University buildings, grounds, and properties.
Roles and Responsibilities
Finance:
- Monitor the University’s financial operations;
- Oversee annual and long-range operating budgets;
- Review requests and plans for borrowing and submit them to the full Board for approval;
- Ensure that accurate and complete financial records are maintained;
- Ensure that timely and accurate information is presented to the Board; and
- Communicate with and educate the Board regarding financial matters.
Investment:
- Set investment policies;
- Establish the investment asset allocation policy;
- Manage asset classes;
- Establish the endowment spending policy;
- Consider social issues related to investments; and
- Communicate and educate the Board regarding investment matters.
