Utah § 53H-8-403 Board duties.

Utah Statutes

§ 53H-8-403 — Board duties.

Utah·Title 53H Higher Education·Ch. 53H-8 Finance·Part 53H-8-4 Higher Education Student Success Endowment

(1)The board shall:

(1)(a) act as trustee of the endowment and exercise the state's fiduciary responsibilities;

(1)(b) meet at least twice a year to conduct business on behalf of the endowment;

(1)(c) review and approve all endowment policies, projections, rules, criteria, procedures, forms, standards, and performance goals;

(1)(d) review and approve the budget and expenditures for the endowment in accordance with Section 53H-8-402;

(1)(e) review financial records for the endowment, including endowment receipts, expenditures, and investments; and

(1)(f) take any other action necessary to perform the board's fiduciary obligations.

(2)The board shall annually submit a budget and expenditures to the Higher Education Appropriations Subcommittee no later than November 1.

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(1) The board shall:
(1)(a) act as trustee of the endowment and exercise the state's fiduciary responsibilities;
(1)(b) meet at least twice a year to conduct business on behalf of the endowment;
(1)(c) review and approve all endowment policies, projections, rules, criteria, procedures, forms, standards, and performance goals;
(1)(d) review and approve the budget and expenditures for the endowment in accordance with Section 53H-8-402;
(1)(e) review financial records for the endowment, including endowment receipts, expenditures, and investments; and
(1)(f) take any other action necessary to perform the board's fiduciary obligations.
(2) The board shall annually submit a budget and expenditures to the Higher Education Appropriations Subcommittee no later than November 1.

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