Executive & Audit Committee

Committee Charter

Key Responsibilities

The Committee is empowered to act for the Board between regular Board meetings on all matters except the following, which shall be reserved for the Board:

(1) presidential selection, evaluation and termination,

(2) board officer election,

(3)changes in the mission and purposes of the University,

(4) amendments to the bylaws,

(5) incurrence of University indebtedness,

(6) sale or other disposition of real estate and other tangible property,

(7) condemnation of real property, and

(8) adoption of the University budget.

The Committee is responsible for oversight of the institution’s financial accounting and control practices and standards of conduct. The Committee is responsible for

(1) reviewing the external financial audit,

(2) ensuring compliance with legal and regulatory requirements,

(3) monitoring internal controls and risk management systems as presented by the Director of Internal Audit and the Vice President of Finance of Administration, and

(4) review of the annual risk assessment and internal audit plan and related budget as presented by the Director of Internal Audit.

In addition, the Committee is responsible for such other matters as may be referred to it by the Board or Chair, except those responsibilities expressly delegated to the other board committees through their charters.