The Board of Visitors is composed of seventeen voting members appointed by the Governor of the Commonwealth of Virginia, subject to confirmation by the General Assembly, for terms of four years. In addition, the Board of Visitors appoints, for a one-year term, a full-time student and faculty representative at the University of Virginia as non-voting representatives to the Board of Visitors. The Board of Visitors serves as the corporate board for the University of Virginia, and is responsible for the long-term planning of the University. The Board approves certain policies and the budget of the University, and is entrusted with the preservation of the University's many traditions, including the Honor System. The Board maintains offices in the Northwest Wing of the Rotunda and holds regular meetings four times per year. The meetings are open to the public to observe, except closed sessions to address specific issues authorized by law to be discussed in closed session.