University Investment Committee Charter

Background and History  

Adopted by the University of North Dakota President’s Cabinet on January 22, 2001.  

Classification/Terms of Appointment  

The Investment Committee is a University of North Dakota standing committee and governs the investment management and policies of the University of North Dakota. The Investment Committee is expected to propose revisions to the policy guidelines at any time such guidelines would impede meeting the investment objectives.  

Formal Charges  

The charge of the committee is: to establish payout policy, to meet the objectives of the investment policy, to contract with independent investment advisors, investment counsel or managers, banks, or trust companies, when beneficial to do so.  

Objectives  

1. The portfolio should provide liquidity to meet the university's cash flow requirements.
2. The portfolio should minimize credit risk.
3. The portfolio should maximize yield.
4. The portfolio should provide diversification for the university's assets.  

Membership  

The Committee will consist of the:

• President or designee
• Vice President for Finance and Operations, Chair
• Vice President for Academic Affairs and Provost
• Vice President for Student and Outreach Services
• Vice President for Health Affairs
• Vice President for Research  
• The Controller and the Cash and Investment Manager will participate in meetings and provide support to the committee.  
• The Budget Director will participate in meetings and act as liaison between the committee and University budget process.  

Appointment/Terms  

All members will serve on the committee by reason of the positions occupied at the University of North Dakota.  

Officers  

The Vice President for Finance and Operations will serve as Chair.  

Subcommittees  

Specific task-oriented subcommittees may be appointed by the Chair from time to time as need dictates and may include other University personnel.  

Relationship to Other University Committees  

This Committee will take into account and work closely with all University and other administrative standing committees having responsibilities for any aspects of investment management.  

Frequency of Meetings  

This committee will meet at least quarterly.  

Notice of Meetings/Meeting Agenda and Support Material  

Meetings will be held at a time and date specified by the committee charter. The Committee Chair will develop the agenda for each meeting and notice will be sent out at least one week before the meeting date.  

Committee Minutes  

Minutes of Committee meetings will be kept and distributed to all members.  

Authorizations  

Signature cards and Corporate Resolutions, if required, will be completed for accounts of the University of North Dakota. These documents will be on file with the Cash and Investments Manager in Accounting Services.  

Committee Reports  

Committee reports and recommendations will be prepared and appropriately distributed as ongoing Committee activities dictate.  

Staff Support  

Direct staff assistance to the Committee will be provided through the Office of the Cash and Investment Manager.  

Meeting Quorum  

A simple majority will constitute the necessary quorum for conduction of official business.  

Amendment to this Charter  

Should any amendment to this Charter be required, the Committee Chair will bring forth amendments suitable to all parties for the President's Cabinet review and the amended charter will be completed, signed, and issued with all possible haste.  

This University Committee Charter is effective as of January 22, 2001.
Revisions made: Febrary 20, 2003  

Approved

• Charles Kupchella
  President  

• Robert C. Gallager
  Vice President for Finance and Operations