I. Executive Committee
The Executive Committee of the Foundation consists of the Chair, Vice Chair, Secretary, Treasurer and four at-large directors. The Dean of the School of Pharmacy and the President of the Foundation serve as ex officio, non-voting members. The Executive Committee is charged with managing the business of the Foundation between full board meetings. The Executive Committee meets at least twice a year with additional meetings scheduled as necessary. Typical agenda items include:
-Review financial results, including budget to actual spending
-President’s report on the Office of Advancement
-Review of investment returns and reports by UNC Investment Fund managers
-Annual budget approvals
-Actions requiring board approval
-Reports from the dean of the School of Pharmacy
II. Audit Committee
The Audit Committee is appointed by the chair and is responsible for overseeing the integrity of the Foundation’s financial accounting process and system of internal controls. The committee is also responsible for the selection, retention, or termination of the organization’s outside auditors, the independence and performance of the independent auditors and staff with financial responsibilities, and the operation of the Board’s policy on conflict of interest. The Audit Committee meets in the fall to review the draft audited financial statements and form 990. The Committee makes a report to the full board at its annual meeting.
III. Nominating Committee
The Nominating Committee is appointed by the chair and consists of no fewer than three elected members. The Dean and the President shall serve as non-voting, ex officio members. The nominating committee submits a slate of candidates to the Board of Directors nominating: four directors to serve, Executive Committee members, and Officers. The ballot of candidates is presented for vote at the annual meeting. The nominating committee is also responsible for submitting a slate of candidates to fill board vacancies which may occur.
