FINANCE COMMITTEE

BOARD OF TRUSTEES

Northern Michigan University

 

Agenda for meeting of August 11, 2006

 

 

 

1.      Review and approval of previous minutes for May 2006* (CAR)

 

Closed Agenda

2.      Investment Performance Mr. Dave Wetzel, Fund Evaluation Group

         Review of Investment Management performance*

      Recommendation that Committee discuss the disposition of Rice, Hall, James

      Recommendation to terminate J.L. Kaplan and Associates (Evergreen)

      Potential candidates for Kaplan replacement:

         Clover Capital Management, Inc.

         Cramer Rosenthal McGlynn, LLC

         First Pacific Advisors, Inc.

      Review merits of including bank loans in portfolio future meeting agenda

      Active versus Passive Management future meeting agenda

 

Open Agenda

3.      Investments Dr. Michael J. Roy, Vice President for Finance and Administration

         Endowment Policy Revision* (CAR)

         College of Business Student Management Investment Fund* (CAR)

 

4.      Budgets Mr. Gavin Leach, Associate Vice President for Finance and Planning

         2006-2007 General Fund Operating Budget* (CAR)

         2006-2007 Designated Fund Budget* (CAR)

 

5.      Capital Outlay Dr. Michael J. Roy, Vice President for Finance and Administration

         Combined Heat and Power Cogeneration* (CAR)

 

6.      Other

         General Revenue Bonds, Series 2001 Liquidity Facility Replacement*

- Ms. Sandra Haavisto, Controller Northern Michigan University

 

7.      Audits

         Draft of 2005-2006 Audited Financial Statements and Management Letter* (CAR)

- Ms. Sandra Haavisto, Controller Northern Michigan University

- Ms. Stacie Kevaiser, Principal Rehmann Robson

- Mr. Stephan Peacock, Principal Rehmann Robson

         Discussion regarding Rehmann Robson with Board of Trustees members only

 

 

 

 

*Back-up information attached

 

(CAR) = Committee Action Required