The principal responsibility of board committees of the Baylor University Board of Regents ("Board") is the fiduciary oversight of the area that defines the provenance of the committee.
Effective oversight involves:
Committees may, at their discretion, appoint subcommittees to facilitate the discharge of their responsibilities. Further, committees may wish to avail themselves of outside expertise by including in their subcommittee makeup individuals who are not presently members of the Board provided, however, that such subcommittee members may not have a subcommittee or committee vote.
Committees do not have independent authority to take action on behalf of the University or act for the Board; they recommend actions to the Board and must obtain all necessary approvals related to board recommendations prior to executing actions. The only exceptions are the Audit and Compliance Committee's selection of the University's external audit and related retention arrangements for which they are responsible after consultation with the Chief Compliance Officer and actions taken by the Executive Committee as authorized by the Bylaws. The committees (their chairs and members) do not have the management or operational responsibilities; these ar the role of the President and his/her staff.