Bylaws constitute one of the most important legal documents in the portfolio of a public college or university board. They articulate the board?s responsibilities and establish the "rules" by which the board organizes itself to do its work. Bylaws begin where a public institution's statutes or constitutional provisions leave off. They build on…

This paper prescribes a significant change in the budgeting practices of most public colleges and universities by urging an approach to budgeting that focuses on the creation and maintenance of institutional assets and the use of mechanisms that reward accomplishment through effective utilization of these assets. This approach contrasts with…

This booklet is a guide to the planning process for members of governing boards of institutions of higher education. Generally, it sees the role of the board in planning as ensuring that planning takes place and insisting that plans are used regularly for decision making. The publication discusses the following five specific tasks related to this…

This booklet, intended for trustees of institutions of higher education, offers some instruction on the principles of risk management. Introductory information provides a definition of risk management, which is seen as a planning and strategic function, not solely as a financial or safety assessment. Individual sections then address the following…

The academic community has developed widespread consensus that trustees must balance two competing "goods" when managing their institution's endowment: first, support of current operations--preferably in a manner that dampens year-to-year volatility--and second, preservation of the endowment to serve future generations. That is to say, trustees…

This booklet for trustees of institutions of higher education offers guidelines to enable trustees to fulfill their fundamental responsibility of ensuring the financial health of the institution. Introductory sections address: challenges of the financial environment in which trustees must make decisions; specific responsibilities of the…

The role of college trustees in institutional planning is considered with emphasis on the development of a long-range plan of the five-year variety. The analysis is also applicable to shorter-range planning and to the formulation of an annual budget. Trustees of private colleges must insist that planning be done, since, unlike the public sector,…

This booklet offers guidelines for college and university trustees for managing the institution's endowment funds as they seek to balance efforts to grow the endowment for the institution's future with the need to use these funds to supplement current budget needs. Critical policy issues are identified, such as: the endowment's purpose, maximizing…

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…

The traditional role of a college or university finance committee is to oversee an institution's financial operations, ensure that a viable long-range fiscal plan is in place, and recommend financial policies to the governing board. The finance committee may assume additional responsibilities in response to changing needs and expectations of the…

Responsibilities of trustees that are common to all types of colleges and universities are examined. The following areas are addressed: (1) appointing the president, (2) supporting the president, (3) assessing the president's performance, (4) clarifying the institution's mission, (5) approving long-range plans, (6) approving the educational…

This paper assesses the level of resources to which colleges and universities might reasonably expect access over the next 30 years. It is organized in three sections. The first section examines some historical relationships between higher education and general economic trends. The second section projects resource levels available to higher…

This monograph presents recommendations for college and university trustees regarding endowment spending policies. The recommendations include how to set investment goals, assess the reasonableness of investments, and judge when to use endowment funds for high priority needs. A systematic method for determining how much to spend annually from…

This paper proposes approaches for both strategic and operational reform and restructuring of higher education. An approach to strategic decision making requires a detailed examination of mission, clientele, programs, competitiveness, and strategic objectives. There are operational efficiencies that institutions can obtain with the proper…

This report, the result of the reflection and study of a panel of 10 distinguished citizens in various fields, highlights key trends shaping the nation and its institutions into the next century. A summary letter to trustees and leaders outlines the panel's sense of urgency about changes that colleges and universities are not prepared to cope…