ERIC Number: ED238375
Record Type: RIE
Publication Date: 1983
Reference Count: 0
Finance Committee. AGB Standing Committee Series [No. 3].
Pocock, John W.
Association of Governing Boards of Universities and Colleges
The responsibilities and functioning of college trustee committees on finance are described. It is noted that the role of the finance committee is to recommend policy for board approval, interpret it to the administration, and to monitor the results. The following responsibilities of the finance committee are discussed: overseeing current financial operations and results; ensuring that a viable long-range financial plan exists or is being developed; and communicating with and educating the board. The structure and agenda of the committee are also addressed. Recommendations for the finance committee include: the committee should understand the factors that affect the flow of funds from various sources and should modify policy or practice to correct a decreasing flow; expenditures should be monitored; the capital budget and the operating budget should be paired for discussion; special attention should be directed to loan funds, plant, and endowment; and the committee needs to assess the financial consequences of the present course and to develop a parallel long-range financial plan. Five reference documents are identified. (SW)
Descriptors: Administrator Responsibility, Budgeting, Committees, Educational Finance, Expenditures, Financial Policy, Financial Support, Governing Boards, Higher Education, Income, Long Range Planning, Operating Expenses, Resource Allocation, Trustees
Association of Governing Boards of Universities and Colleges. 1133 20th Street NW Suite 300, Washington, DC 20036. Tel: 800-356-6317; Tel: 202-296-8400; Fax: 202-223-7053; Web site: http://www.agb.org
Publication Type: Guides - Non-Classroom
Education Level: N/A
Authoring Institution: Association of Governing Boards of Universities and Colleges, Washington, DC.