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1.02.017 - Board Committee Charter - Operations and Risk Management

Approved: 2/19/2013
Approved By: Board of Trustees
Category: 1 - STRUCTURE MISSION AND GOVERNANCE
Section: 02 - COLLEGE GOVERNANCE AND SPONSORSHIP

The Operations and Risk Management Committee is a standing committee of the Board of Trustees.  It has responsibility for oversight and approval of College budget, including the annual external audit, establishment of policies ensuring adequate and appropriate fiscal controls; creation of a facilities master plan and a technology master plan, and formation of criteria for financial planning.  In addition, the Committee has responsibility for approval and oversight of policies guiding crisis response, disaster recovery, and loss prevention.

Responsibilities, Functions, and Powers

  • Provides direction and oversight in the creation of appropriate financial plans, facilities plans and risk management plans as may be necessary to sustain the College;
  • Evaluates and approves administrative budget assumptions and projections supporting planning and development of the College’s annual budget;
  • Develops performance metrics to ensure administrative compliance with the approved budget;
  • Serves as the Board’s Audit Committee;
  • Solicits and evaluates proposals for external audit services, conducts interviews, and recommends candidates for Board of Trustees approval;
  • Directs the work of  the College’s external auditor and recommends policies ensuring the creation of adequate and appropriate internal controls for approval by the Board;
  • Evaluates proposed bid specifications and Request for Proposal materials seeking contracted services for the College and reviews administrative proposals for the award of contracts and agreements;
  • Evaluates the College’s insurance programs relating to physical assets and liability to ensure adequate levels of coverage; and
  • Proposes policies as may be appropriate to protect the College’s fiscal assets, physical assets, and human resource assets in crisis or risk conditions.

Reporting Relationship

Unless otherwise specified, the Operations and Risk Management Committee will be accountable to and make recommendations to the Board of Trustees for the Community College of Beaver County.

Composition

The Operations and Risk Management Committee shall be appointed by the Chairman of the College’s Board of Trustees.  The Committee shall consist of:

  • At least three (3) members of the Board;
  • Board Chairman, serving as a voting ex-officio member;
  • President of the College serving as a non-voting ex-officio member; and
  • As non-voting members, appropriate administrative officers at the senior management level as designated by the President to facilitate the work of the Committee in the areas of financial planning, facilities planning, technology planning and risk management planning.

Meetings

The Operations and Risk Management Committee will meet at least twice annually or more frequently as required by the Committee’s functions.  The agenda will be formulated by the President of the College in consultation with the committee chairperson and will be distributed to all members of the Board of Trustees prior to the Committee meeting.

The Committee shall act by a majority vote of all its voting members.  The presence of a majority of the Trustees assigned to the Committee shall be necessary to constitute a quorum for the transaction of business.

Minutes will be distributed in the Board of Trustees meeting packet and to the Committee at least three days prior to the next meeting.