BOARD OF TRUSTEES COMMITTEE STRUCTURE

BOARD OF TRUSTEES COMMITTEE STRUCTURE 01-01-09

Trustee Finance Committee

The role of the Finance Committee is to review proposed policies and Board actions which have significant financial impact, to recommend appropriate action to the Board and to monitor results.

The responsibilities of the Finance Committee include review of proposed actions relating to the establishment of budgets; award of construction contracts; monitoring financial performance; investment policy and management; land management; external borrowings; and such other matters as shall be determined by the Board.

Investment Advisory Subcommittee

The Investment Advisory Subcommittee is a subcommittee of the Finance Committee. Its role is to aid the Finance Committee in the review and evaluation of investment opportunities and strategies.

The responsibilities of the investment advisory subcommittee include providing knowledgeable, objective and independent advice to the members of the Finance Committee and MSU financial staff on strategic investment planning and policy; investment opportunities; and such other matters as shall be determined by the Board and outlined in the Stipulations and Supporting Documents section.

Trustee Policy Committee

The role of the Policy Committee is to review policies and proposed policies which have significant impact on institutional programs and activities, to recommend appropriate action to the Board and to monitor results.

The responsibilities of the Policy Committee include review of the Board of Trustees Bylaws; the Board of Trustees Policy Manual; Board-approved documents such as the Bylaws for Academic Governance and Academic Freedom for Students at Michigan State University; the Ordinances; any proposed changes to Board-approved policies; and such other matters as shall be determined by the Board.

Audit Committee

The role of the Audit Committee is to assist the Board in fulfilling its oversight responsibilities for the financial reporting process; the system of internal control over financial reporting; the audit process and the University’s process for monitoring compliance with laws and regulations.

The responsibilities of the Audit Committee include the review of candidates to serve as independent auditors; financial reporting processes and audits of the financial statements; the internal audit program; summary audit results; University compliance with applicable laws and regulations and such other matters as shall be determined by the Board.

Compensation Committee

The role of the Compensation Committee is to assist the Board in determining compensation for the President and to advise the President regarding appropriate compensation structures for senior executives.

The responsibilities of the Compensation Committee include coordinating the annual evaluation of the MSU President; recommending salary increases for the President to the Board; reviewing external market trends in compensation of university presidents and other senior executives; and advising the President on compensation structures for senior executives and such other matters as shall be determined by the Board.

Enacted: 7/25/86

Amended: 10/20/06