University of Missouri System

Collected Rules and Regulations

Administration

Chapter 10: Board of Curators

10.050 Standing Committees

Bd. Min. 11-10-67, p. 33,579; Amended 8-6-71, p. 35,988; Amended 5-23-03; Amended 9-9-04; Amended 3-23-06, Amended 7-21-06, Amended 10-6-06, Amended 4-6-07, Amended 6-1-07.

The President of the Board of Curators, subject to the approval of the Board, shall appoint the following standing committees: FINANCE AND AUDIT COMMITTEE; PHYSICAL FACILITIES AND MANAGEMENT SERVICES COMMITTEE; ACADEMIC AND STUDENT AFFAIRS COMMITTEE; COMPENSATION AND HUMAN RESOURCES COMMITTEE; GOVERNANCE COMMITTEE; EXTERNAL AFFAIRS COMMITTEE; and RESOURCES AND PLANNING COMMITTEE. The President shall designate one member of each committee as chair. The President shall consider in making such appointment that it is desirable for each Board member to serve on as many committees as possible during his/her term, but that no committee should be left without continuity.

1. Finance and Audit Committee - The Finance and Audit Committee may have referred to it matters relating to the fiscal and accounting functions of the University and associated programs and policies.
1. The Vice President for Finance and Administration of the University or some other person or persons designated by the President of the University shall be an ex officio member of this Committee. The Vice President for Finance and Administration shall be responsible for the agenda and for transmitting Committee recommendations.
2. The Finance and Audit Committee shall be the Board Committee on investments.
3. The Finance and Audit Committee in its audit function will assist the Board of Curators in fulfilling its oversight responsibilities relating to: the integrity of the University's financial statements, the systems of internal control, the performance of the University's independent auditors and internal audit function, the independent auditor's qualifications and independence, and the University's compliance with legal and regulatory requirements.
1. The Finance and Audit Committee shall be the Board Committee on audit.
2. The Finance and Audit Committee shall meet four times per year to consider business related to its audit function. Sufficient opportunity for the internal and independent auditors to meet with the Committee should be provided. At least annually, the Finance and Audit Committee, as part of its audit function, shall meet solely with the independent auditor and the internal auditor.
3. The Finance and Audit Committee in its audit role may investigate any matter brought to its attention with full access to all records, facilities, and personnel of the University and the authority to engage other individuals as necessary to carry out its duties.
4. The responsibilities of the Finance and Audit Committee in its audit function include, but are not limited to, a review of the internal audit plan, a review of audits completed, a review of annual audited financial statements, and recommending to the full Board of Curators the appointment of the University's independent and internal auditors.
5. The Finance and Audit Committee may establish processes, procedures, and regulations governing their oversight of the internal and external audit process.
    
2. The Physical Facilities and Management Services Committee - The Physical Facilities and Management Services Committee may have referred to it matters relating to the planning, building, maintenance and operation of the physical facilities of the University, and the purchasing of equipment and supplies utilized by the University.
1. The Vice President for Finance and Administration of the University or some other person designated by the President shall be an ex officio member of this Committee and be responsible for the agenda and for transmitting Committee recommendations.
    
3. Academic and Student Affairs Committee - The Academic and Student Affairs Committee may have referred to it matters relating to curricula, faculty and student affairs.
1. The Vice President for Academic Affairs of the University or some other person designated by the President shall be an ex officio member of this Committee and be responsible for the agenda and for transmitting Committee recommendations.
    
4. Compensation and Human Resources Committee - The Compensation and Human Resources Committee may have referred to it matters relating to the compensation, benefits and other human resource functions of the University and associated programs and policies.
1. The Vice President for Human Resources of the University of Missouri or some other person or persons designated by the President of the University shall be an ex officio member of this Committee.
2. The Compensation and Human Resources Committee shall be the Board Committee for executive compensation based on established individual dollar threshold and multi-year contract arrangements; Retirement Disability and Death Benefits Program; medical plan and all other benefit programs of the University; human resource and labor policy; and attendant financial considerations associated with these programs with the exception of the Retirement Trust. The Compensation and Human Resources Committee has broad responsibility for oversight in matters involving personnel and compensation throughout the University.  The President shall regularly consult with the committee in the following areas:
1. Multi-year employment contracts and extensions;
2. Compensation and salary levels for General Officers, faculty, and staff;
3. Performance and annual review protocols;
4. Market and wage comparator groups;
5. Evaluating benefits, retirement, and post-retirement plans; and
6. Promulgating employee recruitment, hiring, and termination policies. 
    
5. Governance Committee –
1. The governance committee shall consist of three curators.  The board chair and the president of the university shall serve as ex officio members of the committee.  Ordinarily, not more than two of the three committee members shall be new in any given year.  When possible, the immediate past chair of the board shall serve as chair of the committee.
2. The committee shall have a broad mandate from the board to work with the board chair and the president of the university to help the board function effectively, efficiently and with integrity.  Its responsibilities shall minimally include:
1. ensuring that a substantive orientation process is in place for all new board members
2. overseeing, or determining with the board chair and president, the timing and process of periodic board self-assessment;
3. encouraging board members to participate periodically in in-service education opportunities;
4. ensuring that the board adheres to its rules of conduct, including conflict-of-interest and disclosure policies, and that it otherwise maintains the highest levels of integrity in everything it does; and
5. shall periodically review the adequacy of the board’s bylaws and other Collected Rules and Regulations adopted by the Board that pertain to its internal operations.  All recommendations for bylaws amendment shall first be considered by this committee. 

In sum, this committee is responsible for good governance especially those policies and practices affecting the performance of the governing board and its members in service to the University of Missouri and to the public trust.; and
 

6. External Affairs Committee – The External Affairs Committee is responsible for review of University of Missouri System, including each campus, activities and efforts that effect public perception of the entire University System and its mission. The Chair of the Board of Curators will annually appoint members to the External Affairs Committee. The Chair and the President are to be ex officio members of the committee.
   The primary duties and responsibilities of the Committee are:
1. Coordinate policy and planning relative to institutional relations with outside constituencies in conjunction with the President of the University and the offices of Governmental Relations and Communications. This may include activities pertaining to government affairs, alumni affairs, community relations, parent organizations and the media.
2. Consider, with the President, all recommendations and observations that the Board directs to the committee and to report to the Board all recommended actions and policies for Board consideration to advance the University.
3. Support long range planning efforts of the Board by developing plans aimed toward elevating the status of public higher education to all local, state and federal constituencies and agencies, including the Missouri Legislature and the general public.
4. Assist the Board and administration with articulating the mission of the University, its resource and revenue requirements to all local, state and federal constituencies and agencies, including the Missouri Legislature and the general public.
5. Assist the Board and the University administration (the University System and each of its campuses), in establishing and maintaining such development and fund raising policies, procedures and programs as are deemed appropriate to obtain donor financial support for the University as a whole and each of its campuses in order to fulfill identified financial goals necessary for the University to accomplish its mission. The committee shall assist the Board in identifying ways to participate and encourage active participation of the Board and its individual members in the development activities of the University.
    
7. Resources and Planning Committee – The Resources and Planning Committee of the Board of Curators shall engage in activities and meaningful work with the University of Missouri Administration to:  (1) assist the Board of Curators in securing adequate resources for the University of Missouri to respond to its challenges and responsibilities as Missouri’s major public research university; and (2) to provide oversight and guidance for the University of Missouri’s academic and financial planning, both short-and long-term.
    
   In assisting the Board of Curators and the University of Missouri secure adequate resources, the Resources and Planning Committee will monitor and recommend changes, as appropriate, in policies and procedures related to:
   
   1. support from the taxpayers of Missouri, as recommended by the Governor and appropriated by the General Assembly;
   2. federal support for the University of Missouri’s research and other educational programs and for student financial aid at both the undergraduate and graduate levels; and
   The Committee’s role in planning includes leadership leading to the annual establishment and assessment of goals and priorities for the University of Missouri system and its campuses and the intermediate-term strategic planning (three to five year time horizon) and longer term environmental forecasting for the University of Missouri system and its campuses, all intended to assist the University of Missouri in establishing current and future needs of the University of Missouri and systems or means to accomplish the future ambitions of the University of Missouri.
              
8. Duties
1. Each Committee shall receive such other matters as may be referred to it by the President of the Board of Curators.
2. Said Committees shall investigate the matters referred to them and make recommendations to the Board.
3. Each of said Committees shall meet as business requires and upon the call of the Chairman of the Committee.