Board of Trustees | Committees

Finance and Investment Committee

The Finance and Investment Committee is concerned with University policies and issues related to financial affairs and the investment of University funds. Within this committee, there is also a Real Estate Subcommittee.

Committee Members 2013-2015

  • Gary D. Cohn, Chair
  • C. Nicholas Keating, Jr., Vice Chair

  • Gary M. Abramson

  • Marc N. Duber

  • Alan L. Meltzer
  • Regina L. Muehlhauser
  • Arthur J. Rothkopf
  • Peter L. Scher

 

Resource Persons

 

Cabinet Members:
Chief Financial Officer, Vice President and Treasurer Donald Myers

Provost 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 (as amended June 9, 2006):

ARTICLE VII: Other Standing Committees

Section 1. There shall be such other Standing Committees as the full Board shall appoint from time to time, each having such composition, duties and powers as shall be approved by the full Board from time to time. At present, the other Standing Committees shall be as follows: Academic Affairs Committee; Alumni Affairs and Development Committee; Athletics Committee; Audit Committee; Campus Life Committee; Communication Committee; Finance and Investment Committee; and Trusteeship Committee.  

Section 2.
Except for the Trusteeship Committee, nominations of Standing Committee officers and members for two-year terms shall be made by the Trusteeship Committee for action by the Board at the first regular Board meeting following the Spring meeting. The Board Vice Chair is the Trusteeship Committee Chair. Nominations of Trusteeship Committee Vice Chair and members for two-year terms shall be made by the Executive Committee for action by the Board at the same regular meeting as the other committee nominations after the other Standing Committee officers have been approved by the full Board. 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 9. 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. This Committee has such powers and duties, and shall operate in accordance with such procedures, as shall be set forth in a Committee charter, and any amendments thereto, approved by the Board.

Section 11. A majority of members of any other Standing committee constitutes a quorum at any meeting thereof. Standing Committee members may participate in Standing Committee meetings by teleconference, which shall constitute presence in person at the meeting.

 

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.


Updated May 23, 2013