The Finance Committee shall be responsible in all matters relating to the University’s financial affairs and business operations. It shall review and approve the annual budget and the setting of tuition rates, student fees, and other student charges for recommendation to the Board. On behalf of the Board, it shall establish metrics and monitor programs for organizational excellence, approve the investment of endowment and other funds and the purchase of real and personal property, and it shall make progress reports to the Board on its actions.
The committee shall maintain liaison with the University of Virginia Investment Management Company, a nonprofit, nonstock corporation organized under Virginia law to provide investment and investment management and related services to the University of Virginia, and shall monitor and review periodically the performance of the Company.
The Finance Committee shall be responsible for all matters relating to funding research programs and partnerships of the University. The scope shall include all forms of research funding: external and internal sources of research support, startup packages for faculty, and commercialization activities and translational research. The committee may offer guidance on such issues as strategic investments in research, the infrastructure for research, strategic partnerships that enhance research capability and impact, and intellectual property policies.