V. Standing and Ad Hoc Committees

Amended and Restated - As Amended Through June 6, 2008

1. In addition to the Executive Committee, there shall be the following standing committees of the Board of Trustees appointed annually by the Executive Committee after consultation with the President and with the approval of the Board and responsible to the Board:
   1. Committee on Advancement, chaired by the Vice Chair for Advancement, which shall be responsible for supporting and monitoring the College’s advancement efforts, including fundraising, admissions, financial aid, alumni relations, communications, and the conferring of honorary degrees and awards.
   2. Education Committee, chaired by the Vice Chair for Education, which shall be responsible for supporting and monitoring the educational, student development and athletic programs of the College.
   3. Finance Committee, chaired by the Vice Chair for Finance, which shall have oversight responsibility for the College’s budget, investments, financial results, financial statements, buildings and grounds.
   4. Committee on Trustees, chaired by the Vice Chair for Trustees, which shall have responsibility for recruiting, training, developing, and leading the evaluation of Trustees. The Committee on Trustees shall nominate candidates for all categories of Trustees to the Board.
2. Each standing committee shall make such reports and recommendations to the Board as appropriate, or as otherwise requested by the Chair.
3. Ordinarily a Trustee shall (i) serve on either the Advancement Committee, Education Committee, or Finance Committee, and (ii) may simultaneously serve on the Executive Committee, Committee on Trustees or both. Rotation of assignments to standing committees shall be encouraged to give each Trustee the opportunity to provide a range of service to the College.
4. Except as otherwise limited by these bylaws, each standing committee shall determine its structure and operating practices and may, with the approval of the Chair in consultation with the President, constitute such subcommittees or task forces as may be appropriate, whose membership need not be restricted to the members of the standing committee. Faculty, students, staff and alumni may be invited to serve on subcommittees and task forces, as voting or non-voting members.
5. The Finance Committee shall have four permanent subcommittees:
   1. Audit Subcommittee, which shall recommend to the Board the selection of an outside auditor, oversee the activities of the outside auditor, and report the results of audits to the Board;
   2. Budget Subcommittee, which shall monitor and critique the College's financial performance, recommend to the Board an annual budget and longer range financial objectives, and report to the Board on the College’s financial results.
   3. Facilities Subcommittee, which shall oversee the College's acquisition and use of real estate, improvements, personal property and intellectual property, and report to the Board on such matters.
   4. Investment Subcommittee, which shall develop and recommend to the Board investment policies for the College's endowment, oversee the Treasurer’s implementation of approved investment policies; select and oversee the activities of all investment managers retained by the College; and report the results of the College’s investments to the Board;
   
   Members of these subcommittees shall be appointed annually by the Executive Committee after consultation with the President and with the approval of the Board and responsible to the Board. Each subcommittee shall be chaired by a member of the Finance Committee selected by the members of the subcommittee. The Vice Chair for Finance shall be a member ex officio of each subcommittee.
6. An ad hoc Nominating Committee to nominate Board officers and at-large members of the Executive Committee shall be appointed annually by the Chair for annual elections and periodically as necessary to fill vacancies that occur from time to time. Appointments to the Nominating Committee shall be made by the Chair in consultation with the President, members of the Executive Committee and considering input that may be provided by any other Trustee.
   1. The Nominating Committee shall be comprised of five Trustees, one of whom shall be designated by the Chair of the Board to serve as committee chair. At least one member of the Nominating Committee shall be a current member of the Executive Committee; at least one member of the Nominating Committee shall be a current member of the Committee on Trustees; and at least two members of the Nominating Committee shall not be current members of either the Executive Committee or the Committee on Trustees. In those years when a Board Chair is scheduled to be nominated, at least one past Board Chair will be invited to serve on the committee. Members of the Nominating Committee shall be appointed no later than the Winter meeting.
   2. The Nominating Committee shall nominate at least one person to stand for each position that is currently vacant or whose term is expiring, and the names of its nominees shall be included among the written materials distributed to the Board in advance of the Spring meeting. No member of the Nominating Committee may be nominated by that Committee to stand for election to any position.
7. The Chair of the Board, the Executive Committee or the President may from time to time constitute such ad hoc committees as may be necessary or desirable. When the purpose of any such ad hoc committee has been fulfilled, the committee shall be disbanded.