Faculty senates and similar units have long held a place in college and university decision making. This study was undertaken to determine how college presidents perceive faculty involvement in governance. A 3-round Delphi survey was conducted, and a total of 23 of the initial 30 college presidents completed all 3 rounds. Results suggest that presidents are not as enthusiastic about faculty governance as previously thought, but faculty involvement is valued greatly in areas such as curriculum development. Presidential ratings plainly indicate the perspective that shared governance is not an integral component of institutional decision making and management. (SLD)