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The Finance Committee (Committee) is established in the Bylaws as a standing committee of the Board of Trustees. The Committee is responsible for overseeing policies and issues related to financial affairs and the stewardship of University funds and assets.

Committee Members, 2023-2025

• Jeffrey A. Sine, Chair
• Marc N. Duber, Vice Chair
• Janice Menke Abraham
• Sally Amoruso
• Wesley Bush
• Victoria C. Harker
• Amy V. Kothari
• Fernando Lewis Navarro
• Betsy A. Mangone
• Alan L. Meltzer
• Angela Chen, Student Trustee

Resource Persons

Cabinet Members:

CFO, Vice President and Treasurer

Provost

Campus Representatives:

Alumni Association

Faculty Senate

Graduate Leadership Council

Student Bar Association

Student Government

Staff Council

CHARTER

Purpose

The Finance Committee (Committee) is established in the Bylaws as a standing committee of the Board of Trustees. The Committee is responsible for overseeing policies and issues related to financial affairs and the stewardship of University funds and assets.

Organization

1. Membership/Structure. Pursuant to the Bylaws (Article VII, Other Standing Committees) and the Board Policies (Article IX, Election of Committee Officers and Members), the Finance Committee shall consist of four or more trustees appointed by the Trusteeship Committee and approved by the Board of Trustees. The Chair and Vice Chair(s) of the Committee shall be appointed by the Trusteeship Committee and approved by the Board of Trustees. The Chair of the Committee shall be a member of the Executive Committee.
2. Staff Designee. The CFO, Vice President of Finance and Treasurer shall be responsible for staffing the Committee.
3. Meetings. Meetings shall be held in conjunction with regularly scheduled meetings of the Board, or as deemed advisable by the Chair of the Committee.
4. Agenda, Minutes and Reports. The Chair of the Committee, in collaboration with the Staff Designee, shall be responsible for establishing the agendas for meetings of the Committee. An agenda, together with relevant materials, shall be sent to the Committee members in advance of each meeting. Minutes for all meetings shall be prepared in draft form by the Staff Designee and reviewed by the Chair and shall be approved by the Committee members at the following meeting. The general session minutes shall be available for review by any member of the Board of Trustees. The closed executive session minutes shall be available for review by any voting member of the Board of Trustees. The Committee shall make regular reports to the Board of Trustees.
5. Review of Charter. The Committee shall conduct a self-assessment and review its charter on a periodic basis, or as required by Board policy.

Roles and Responsibilities

Guided by the University's mission and its strategic plan, the Finance Committee is charged with supporting and monitoring the University’s financial operations to ensure the highest level of stewardship while advancing the priorities of the University – including the University’s social responsibility efforts. The Committee leads the Board’s engagement on emerging issues, sets priorities, provides guidance, and makes recommendations to the Board of Trustees on University policies and issues related to finance oversight.

To fulfill its purpose, the Committee will:

• 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.
• Ensure there is a regular review the University’s goals relating to increasing diversity, equity and inclusion as they pertain to the areas for which the Committee has oversight responsibilities, the progress that the University is making in achieving those goals, and actions the Committee and Board of Trustees should consider taking to support the University’s efforts.

Updated May 2024