{"id":2730,"date":"2016-10-27T09:32:55","date_gmt":"2016-10-27T14:32:55","guid":{"rendered":"https:\/\/wp.stolaf.edu\/president\/?page_id=2730"},"modified":"2025-05-20T17:01:03","modified_gmt":"2025-05-20T22:01:03","slug":"finance-committee","status":"publish","type":"page","link":"https:\/\/wp.stolaf.edu\/president\/finance-committee\/","title":{"rendered":"Finance and Infrastructure Committee"},"content":{"rendered":"
\n

St. Olaf College Board of Regents<\/strong><\/h2>\n\n\n\n

Finance and Infrastructure Committee <\/strong><\/h2>\n\n\n\n

Committee Charter<\/strong><\/h2>\n\n\n\n

Mission<\/strong><\/h4>\n\n\n\n

The Finance and Infrastructure Committee provides oversight and advice regarding the college\u2019s financial goals, policies, operating and capital budgets, and physical and digital infrastructures, to ensure that they support the mission, programming, values, and strategic goals of St. Olaf College.<\/p>\n\n\n\n

Roles and Responsibilities<\/strong><\/h4>\n\n\n\n

The committee shall:<\/p>\n\n\n\n

    \n
  • Monitor the college\u2019s financial performance against approved budgets, long-term trends, and relevant benchmarks, seeking to ensure the college\u2019s long-term fiscal sustainability;<\/li>\n\n\n\n
  • Review Investment Committee recommended payout levels in conjunction with staff proposals to jointly determine the endowment spending to be included in the annual operating budget;<\/li>\n\n\n\n
  • Engage with college staff regarding the development of the college\u2019s operational and financial strategies (including setting tuition and comprehensive fee) needed to advance the strategic plan; <\/li>\n\n\n\n
  • Recommend to the Board of Regents an annual operating and capital budget plan with multi-year projections;<\/li>\n\n\n\n
  • Review with college staff the college\u2019s strategies for management of significant financial risks, including the use of hedges, derivative instruments, insurance coverage, and related costs;<\/li>\n\n\n\n
  • Provide counsel and advice to college staff related to the safety, maintenance, renewal, and sustainability of the college\u2019s buildings, grounds, utilities and digital infrastructure, seeking to ensure appropriate support for the college\u2019s academic, co-curricular, and residential programs;<\/li>\n\n\n\n
  • Ensure that the Board receives timely, accurate, and understandable financial and infrastructure information that is relevant to the discussions and actions of the Board;<\/li>\n\n\n\n
  • Carry out such other activities within the scope of its primary purpose or as the Board may from time to time delegate to it.<\/li>\n<\/ul>\n\n\n\n

    Composition<\/strong><\/h4>\n\n\n\n

    The committee shall consist of at least seven members, including its ex officio <\/em>members. The Chair of the Board of Regents and the President of the College shall be ex officio <\/em>voting members of the Committee. The committee chair or co-chairs, and all other members of the committee apart from its ex officio <\/em>members, shall be Regents appointed by the Chair of the Board of Regents.<\/p>\n\n\n\n

    The Vice President for Business and Finance and Chief Financial Officer shall serve as a non-voting staff liaison to the committee.<\/p>\n\n\n\n

    Meetings and Reporting<\/strong><\/h4>\n\n\n\n

    The committee normally shall meet at least three times per year, at such times and places as the Committee shall determine. Members may participate in any meeting of the committee by means of any form of remote communication that enables persons not physically present in the same location to communicate with each other on a substantially simultaneous basis. A quorum of any meeting of the committee shall consist of a majority of its appointed members for the purpose of taking any action other than adjourning the meeting. If a quorum of committee members is not present, a majority of those present may adjourn the meeting.<\/p>\n\n\n\n

    The committee chair or co-chairs, in collaboration with the staff liaison, shall establish the agendas for meetings. The staff liaison shall provide the agenda and any other relevant materials to committee members in advance of each meeting. The committee shall maintain minutes of all its actions and communicate them promptly to the full Board of Regents.<\/p>\n\n\n\n

    Review of Charter<\/strong><\/h4>\n\n\n\n

    This charter shall be reviewed regularly by the committee, and any proposed changes shall be submitted to the Nominating and Governance Committee for review and approval. The Nominating and Governance Committee shall refer significant changes to the full Board of Regents for review and approval.<\/p>\n\n\n\n

    Approved May 2025<\/em><\/h4>\n\n\n\n

    <\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"

    St. Olaf College Board of Regents Finance and Infrastructure Committee Committee Charter Mission The Finance and Infrastructure Committee provides oversight and advice regarding the college\u2019s financial goals, policies, operating and […]<\/p>\n","protected":false},"author":286,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"footnotes":""},"class_list":["post-2730","page","type-page","status-publish","hentry"],"acf":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/wp.stolaf.edu\/president\/wp-json\/wp\/v2\/pages\/2730","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wp.stolaf.edu\/president\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/wp.stolaf.edu\/president\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/wp.stolaf.edu\/president\/wp-json\/wp\/v2\/users\/286"}],"replies":[{"embeddable":true,"href":"https:\/\/wp.stolaf.edu\/president\/wp-json\/wp\/v2\/comments?post=2730"}],"version-history":[{"count":21,"href":"https:\/\/wp.stolaf.edu\/president\/wp-json\/wp\/v2\/pages\/2730\/revisions"}],"predecessor-version":[{"id":5260,"href":"https:\/\/wp.stolaf.edu\/president\/wp-json\/wp\/v2\/pages\/2730\/revisions\/5260"}],"wp:attachment":[{"href":"https:\/\/wp.stolaf.edu\/president\/wp-json\/wp\/v2\/media?parent=2730"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}