Personal Travel is travel that is not University Travel. Personal Side Trips are Personal Travel made by a University Traveler while on University Travel. Personal Side Trips include travel adjacent to and during University Travel. Examples of Personal Side Trips: A Traveler is on approved University Travel to Germany from June 14 through June 24. The Traveler arranges and goes on Personal Travel…
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Travel Risk Management Advisory Committee (TARMAC). The University shall establish a systemwide Travel and Risk Management Advisory Committee (TARMAC). TARMAC Responsibilities and Authorities. TARMAC has authority to designate High-Risk Destinations and set criteria used in designating High-Risk Destinations. High-Risk Destinations designated by TARMAC and/or High-Risk Designations meeting the…
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(proposed content for discussion) Each Campus/UMPO must develop and implement a pre-departure High-Risk Travel Destination Request Review Protocol for identifying and reviewing all anticipated University Travel to or through High-Risk Destinations for the respective Campus/UMPO. Protocol should be written and publicly available for the University Travelers. Protocol should include Export Control…
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University Travelers traveling with University Devices or accessing University Data remotely shall not create data security or other confidentiality risks that cannot be effectively mitigated. Travelers traveling with University Device(s) and/or University Data on University Travel to a High-Risk Destination or Elevated Cybersecurity Risk Destination must comply with cybersecurity, connectivity,…
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When traveling internationally, University Travelers are “exporters” of any tangible items and technical information they take with them and/or share abroad. Therefore, University Travelers traveling to an International Destination(s) must comply with all export control and sanctions laws, regulations and requirements including, but not limited to, proper handling, transfer, access, storage,…
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Insurance: The University maintains international travel accident and sickness insurance. The insurance policy is maintained by UMass Treasurer’s Office. The insurance policy provides coverage to University Travelers while on approved University Travel to ensure Traveler access to medical support and services to support safety while on international University Travel. Emergency Travel Assistance…
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Doc. T23-036, as amended, Passed by the Board of Trustees on December 6, 1995 (under Doc. T95-095) Latest revision: June 9, 2023, Preamble, We the students, to provide an effective, responsible and representative form of government do ordain and establish this Constitution for the Student Senate of the University of Massachusetts Dartmouth., Article I: Authority, Section 1:, Senate The Senate derives its authority from the Board’s approval of this constitution, as provided in Section 3, Chapter 75 of the General Laws of the Commonwealth of Massachusetts., Section 2:, Governance The Senate shall be governed by the Board’s statement on University Governance, Trustee Document T73-098., Section 3:, Notice of Non-Discrimination In the exercise of its powers, the Senate shall not discriminate on the basis of race, national origin, age, sex, religion, sexual orientation/preference, veteran status, economic status, or handicap., Section 4:, Constitution This constitution supersedes any earlier constitution of the Senate., Section 5:, Revision Dates All official editions to this constitution shall bear a current revision date on the title page, which shall coincide with the most recent date of ratification by the Board., Article II: Name, Section 1:, The University of Massachusetts Dartmouth Hereafter, the University of Massachusetts Dartmouth shall be referred to as the UMass Dartmouth., Section 2:, The Student Senate of the University of Massachusetts Dartmouth Hereafter, the Student Senate of UMass Dartmouth, shall be referred to as the Senate., Section 3:, The Board of Trustees of University of Massachusetts Hereafter, the Board of Trustees of University of Massachusetts shall be referred to as the Board., Article III: Purpose, The guiding principles of the Senate shall be: To act as the students' liaison to UMass Dartmouth, the UMass system, the Commonwealth, The Chancellor, and the Board. To provide guidance in cooperation and understanding among the students and their organizations. To provide an outlet for student views and concerns. To promote student rights, views, interests, and welfare by recommending…, Article IV: Student Rights, Section 1:, Fundamental Rights The Senate unequivocally recognizes the rights of freedom of speech, freedom of the press, freedom of association, and the freedom of assembly on and off campus, for any and all members of the academic community., Section 2:, Right to Privacy The Senate unequivocally recognizes, and shall not abridge students’ right to protection from unauthorized disclosure of any documents or files pertaining to their views, beliefs, or associations., Section 3:, Right to Lectures The Senate unequivocally recognizes the rights of students to invite to campus and to hear any person of their own choosing so long as observance of routine procedures required for the use of institutional facilities are followed., Section 4:, Right to Judicial Hearing The Senate unequivocally recognizes and shall not abridge the right of students to be protected by just and fair procedural standards in disciplinary actions as set forth by UMass Dartmouth., Section 5:, Right to Choose Advisors The Senate unequivocally recognizes the right of student organizations to choose freely their own faculty or administrative advisors., Article V: Powers, The Senate shall have the following powers in carrying out its purposes as delineated in Article II of this Constitution: To have vested in it all legislative functions of the student government. To ensure the proper functioning of student government at UMass Dartmouth. To make recommendations on any question, including proposed fee and tuition increases. To make recommendations pertaining to the…, Article VI: Membership, Section 1:, Representation The Senate represents the student body: any student who is currently registered for at least one course bearing a minimum of three academic credits. Only members of the student body are eligible to vote in student government elections., Section 2:, Qualifications for Membership Any student represented by the Senate (as delineated in Article VI, Section 1), registered for at least 9 credits, and in good academic standing in accordance with the UMass Dartmouth policy may stand for election to the Senate., Section 3:, Structure The Senate shall consist of forty senators and five non-voting ex-officio members. There shall be: Three senators representing each of the four classes; Two senators representing commuter students; One senator representing resident students; Twenty senators representing the colleges: the twenty senators from the five colleges (CAS, CCB, COE, CON, CVPA, and Honors) shall be determined on…, Section 4:, Executive Board There shall be an executive board comprised of a President, Vice President, Treasurer, Recording Secretary, and Corresponding Secretary., Section 5:, Voting All senators shall have voting rights at all meetings of the Senate. The Senate President, however, only votes in the case of a tie., Article VII: Duties, Section 1:, Office Hours Each senator shall spend at least 1 hour in the office and/or tabling for Senate each week and perform any tasks necessary for the upkeep of the Senate during this time., Section 2:, Preparatory Reading Each senator shall be responsible for reading, reviewing, and correcting the minutes of each meeting, motions for the upcoming meeting, and submitted Senate Recognized Organization constitutions prior to their passing by the general board. All senators should also be well versed in the Senate constitution as well as Robert’s Rules., Section 3:, Attendance Each senator is responsible for attending all their Committee and Taskforce meetings and all Senate meetings., Section 4:, Constituency Meeting Each senator shall meet regularly with members of said senator’s constituency in order to understand their specific concerns., Section 5:, Schedule Each senator is responsible for maintaining an updated schedule of their available hours in the Senate office at all times., Section 6:, Each senator is responsible for maintaining his/her current contact information in public space at all times., Section 7:, Duties of the Officers In addition to the regular duties of a senator, the officers of the Senate shall be responsible for the following:, President, The president shall be the presiding officer of the Senate, be the chief executive of the student government at UMass Dartmouth, have the power to issue executive orders provided that they are for the purpose of enforcing motions passed by the Senate or assuring the proper functioning of student government at UMass Dartmouth, act with the Treasurer as co-signer for all Senate expenditures, and…, Vice President, The Vice President shall assist the President in his or her duties, take on the responsibilities of the President in his or her absence, make and adjust all committee appointments with the approval of the Senate, assist the committees in carrying out their duties, chair the Policy Committee and the Committee Council., Treasurer, The Treasurer shall be responsible for all financial records of the Senate, be responsible for the administration of Senate funds, act with the President as co-signer for all Senate expenditures, audit the Senate financial records once every year, and chair the Finance Committee. The Treasurer shall not make any disbursements of Senate funds without prior Senate approval., Corresponding Secretary, The Corresponding Secretary shall assist the President in his or her duties, be responsible for facilitating all Senate communications, keep records of all correspondence, coordinate informational forums, and chair the Public Relations Committee., Recording Secretary, The Recording Secretary shall issue constitutions to all new senators, take the minutes of all Senate meetings, be responsible for the publication of those minutes within the week, prompt senators to perform their duties as delineated in Article VII Sections 1 through 6 of this constitution, and keep record of all motions, minutes, activities, and duties performed by the Senate., Committee Chairpersons, The By-Laws shall list and describe the functions of the Senate’s standing committees. There shall be Chairpersons to preside over these committee meetings, create taskforces within their committees to complete pertinent projects, divide up committee work among those taskforces, have the power to appoint non-senators to his/her committee, have the power to grant and revoke voting rights from said…, Article VIII: Elections, Section 1:, Spring Elections All senators except for those representing the incoming freshman class shall be elected between the tenth to twelfth weeks of the spring semester. These senators-elect shall take office at the first meeting of the new Senate., Section 2:, Fall Elections Elections for freshman class senators, as well as any other vacant seats, shall be held between the third and fifth weeks of the fall semester. These senators-elect shall take office upon acceptance of their seat. They shall serve until the first meeting of the Senate elected in the spring or their subsequent termination., Section 3:, Advertising Vacancies shall be adequately advertised. The adequacy of the advertising shall be determined by the Senate President., Section 4:, Elections of Officers Before the first meeting of the new Senate is called to order, senators shall elect, from within the Senate, the following officers: President, Vice President, Treasurer, Recording Secretary, Corresponding Secretary, and Committee Chairpersons. This election shall be presided over by the Senate advisor., Section 5:, Subsequent Vacancies Normal vacancies arising after the fall election and before the spring election shall be filled in special internal elections. In the event of a vacancy in a Committee Chairperson position, a special internal election shall be held to fill said position. In the event of a vacancy in the Executive Board (except for the president, who is succeeded by the vice president) the…, Section 6:, Terms of Office Each senator and officer shall, upon acceptance, serve until the calling of the new Senate or subsequent termination., Section 7:, Transition Between Old and New Officers All officers of the Senate shall take their respective office after the president elect has taken his/her oath of office., Article IX: Termination, Section 1:, Resignation Upon submitting an official letter of resignation to the Executive Board, a senator shall forfeit his or her seat. Any senator who ceases to be enrolled at UMass Dartmouth forfeits their seat as a senator., Section 2:, Removal Any member of the Senate who fails to perform their duties for three active weeks throughout a semester shall be removed from office. The dismissal ruling by the Executive Board may be appealed and the senator re-instated by a vote of two-thirds majority of the senate. An active week shall be determined by the Senate President., Section 3:, Recall of an Officer Any senator may move for a recall election of an officer of the Senate at any Senate meeting. This motion must pass by two thirds of the Senate. An election will then be held between any senators who desire the position, including the incumbent if he or she so desires., Section 4:, Impeachment Any student may move to impeach a senator for an impeachable offense by introducing a motion proposing impeachment and having it pass by a two thirds majority of the Senate. Impeachable offenses shall be delineated in the bylaws., Section 5:, Setup for Impeachment Trial If the initial motion for impeachment passes, an impeachment hearing will be set up and conducted according to the procedures specified by the UMass Dartmouth appellate board. A majority vote of the Senate will appoint two senators to act as the prosecutors. The rights of the accused are outlined in the Student Judiciary Document., Section 6:, Reinstatement A petition signed by ten percent of an impeached or removed senator’s constituency will be sufficient to reinstate a senator as long as his or her seat has not been filled., Article X: Amendments, Section 1:, Submission Proposed amendments to this constitution may be submitted to the Senate by any member of the student body. A proposed amendment shall be adequately advertised for at least one week before being acted upon by the Senate. The adequacy of the advertising shall be determined by the Senate President. A copy of all proposed amendments shall be submitted to the University Newspaper., Section 2:, Ratification Any proposed amendments must first be ratified by two-thirds of the Senate. Second, they must be passed in a general or special election by two-thirds of those students casting ballots in regard to such amendments. Finally, they must be approved by the Board according to their policies and procedures. No amendment to this constitution shall be deemed effective unless and until fully…, Section 3:, Documentation An up-to-date list of ratified amendments shall be kept in the Senate office. This list shall contain the dates of submission and ratification., Section 4:, Constitutional Review The Senate constitution will undergo a review, but not necessarily a revision, every year. , Doc. T23-036, as amended | Student Government Association Constitution, Dartmouth, Passed by the Board of Trustees on December 6, 1995 (under Doc. T95-095) Revised: August 6, 2003 March 19, 2008 September 19, 2018 (Student Government Association Temporary Amendment; expired 5/2/19) June 9, 2023
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Doc. T24-004, Passed by the Board of Trustees on April 10, 2024, Preamble, We, the graduate students at the University of Massachusetts Lowell, to promote the well-being of the graduate student body and ensure their representation in university affairs establish this constitution. We aim to create a representative form of government for all graduate students, recognizing the duties of the Graduate Student Association to promote research, collaboration, and student…, Article I. Definitions, The Graduate Student Association, hereinafter called the GSA, shall be the governing student organization of the graduate student body. The Governance Body shall consist of the officers of the executive committee and the graduate senators. Executive Committee (EXCOM): President Vice President of Operations Vice President of External Affairs Secretary Treasurer Graduate Research Grant Award Chairs…, Article II. Purposes, To work for the academic, social, and economic advancement of all graduate students to promote better communication among graduate students and the entire University student body. To ensure appropriate representation of the graduate students in the affairs of the University pertaining to or affecting graduate education. To promote rapport among graduate students, faculty, and administration. To…, Article III. Membership, All graduate students are general members of the GSA and are allowed to vote in general elections. Only GSA members in good academic and judicial standing shall be eligible to hold any GSA EXCOM office. The Senate shall be composed of two Senators from each recognized GSO and shall be chosen by their organization. Committee members are voting members, chosen by their organization, within a…, Article IV. Executive Committee, The Officers of the GSA shall consist of the President, Vice President of Operations, Vice President of External Affairs, Secretary, Treasurer, GRGA Chairs, and PDA Chairs and shall hereinafter be referred to as the Executive Committee or EXCOM. President: To preside over all meetings and ensure the parliamentary procedure is adhered to as set out in Robert's Rules of Order, except as amended in…, Article V. Committees, Composition: The GSA shall maintain five standing committees (Governance, Finance, External Affairs, GRGA, and PDA). Each committee shall be comprised of a chair or co-chairs, and representatives from the GSO’s. Voting members of a committee will include chairs and members of the committee. Committees may keep their internal procedure but shall follow GSA bylaws with regard to quorum, voting, etc…, Article VI. Elections, EXCOM (President, Vice Presidents, Secretary, Treasurer, PDA Chair and GRGA Chair): The EXCOM shall be elected from the general membership of the GSA. Election of officers shall be coordinated with the designated GSA Advisor. All members of the GSA may vote in the election. No person may hold two elected positions within the GSA in any one year. Any graduate student in good standing with the…, Article VII. Meetings and Quorum, Governance Body Meetings: The Governance Body will meet at least once a month to conduct necessary business. Meetings shall be conducted according to the parliamentary procedure described in Robert’s Rules of Order unless otherwise amended in this document. Only members of the Governance Body, i.e., the Graduate Senate and EXCOM, may vote at Governance Body meetings by a show of hands. Discussion…, Article VIII. Advisor, The Senior Associate Director of Student Activities and Leadership or the Director of Student Activities and Leadership will serve as an advisor to the GSA., Article IX: Graduate Student Organizations, The Governance Committee shall make available guidelines for writing club/organization constitutions. Any GSO recognized by the GSA, or which falls under GSA jurisdiction for recognition, which does not currently have an approved constitution on file with the GSA shall be required to submit one. Any current constitutions that have been previously approved shall remain in effect as originally…, Article X: Amendments and Bylaws, Amendments to this Constitution: Meetings must be held at least three full days apart. The notice of the constitution for a proposed amendment shall be made available to all GSA members at least one week before its initial consideration. The GSA members must be provided with prior notice of the Amendment's consideration as part of the agenda, with a minimum of one week in advance. The UMass Board…
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Doc. T91-100, as amended, Passed by the Board of Trustees on September 5, 1991 Latest revision: April 12, 2023, Preamble, These By-laws shall govern the proceedings and acts of the Board of Trustees of the University of Massachusetts. The University shall consist of five campuses at Amherst, Boston, Dartmouth, Lowell, and Worcester. Its principal office shall be the President's Office at One Beacon Street, Boston, Massachusetts., Article I: Organization & Officers, Section 1. Composition and Functions, The composition, functions, duties, powers and responsibilities of the Board of Trustees shall be as provided and authorized by the laws of the Commonwealth as in effect from time to time., Section 2. Officers of the Board, The Officers of the Board shall be a Chair, and one or two Vice Chairs, all of whom shall be Trustees, and a Secretary. These Officers, with the exception of the Chair, shall be elected by the Trustees at their annual meeting, upon nomination by the Trustee Governance Committee as provided in Article IV, Section 1(a) and shall hold office until the next annual meeting or until their respective…, Section 3. Duties of Officers, The Chair, Vice Chair(s), and Secretary shall have the duties, functions, powers and responsibilities as prescribed by the laws of the Commonwealth, these By-laws, votes of the Board of Trustees and parliamentary custom., Section 4. Compensation, Members of the Board shall serve without compensation but shall be reimbursed for all expenses reasonably incurred in the performance of their duties., Section 5. Attendance, If any member, either elected or appointed, is absent from four regular meetings in any calendar year, exclusive of July and August, his or her office as a member of said Board shall be deemed vacant., Section 6. Remote Attendance, Pursuant to M.G.L. Ch. 30A, section 20, and as adopted by the Board by vote of December 14, 2011, trustees may attend any meeting remotely and shall be entitled to fully participate, including casting a vote, at the meeting. Remote attendance will be permitted subject to the following provisions and regulations issued by the Office of the Attorney General. Any member may request permission of the…, Article II: Meetings of the Board of Trustees, Section 1. Annual Meeting, Regular and Special Meetings, Annual Meeting – The Annual Meeting of the Board of Trustees shall be in September, effective September, 2007. Regular Meetings – Regular Meetings of the Board of Trustees shall be held in the months of April, June, September, December, effective 2015, unless otherwise determined by the Board of Trustees. Special Meetings – Special Meetings of the Board of Trustees may be called by the Chair, or…, Section 2. Notice, Regular Meetings – Notice of the regular meetings of the Board shall be sent to each Trustee at least six days prior to the date fixed for said meeting, which notice shall state the time and place thereof. Special Meetings – In the case of a special meeting, notice of the time, place, and purpose(s) of the meetings shall be sent to each Trustee at least two days prior to the date fixed for said…, Section 3. Agenda of Regular Board Meetings, A written agenda of matters to be considered at each regular meeting of the Board of Trustees shall be sent to each Trustee at least six days prior to the date fixed for said meeting. A Chancellor may provide notice of items for the agenda of said meeting for the President’s consideration with a copy to the Secretary, at least thirty-one days before the date fixed for said meeting. Items and all…, Section 4. Consent Agenda, By a vote of a majority of Committee members present at any Committee meeting, action item(s) may be placed on a consent agenda for regular Board meetings. Any item so designated as a consent agenda item by the Committee shall be so designated in the agenda of a regular Board meeting provided to the Board of Trustees. Unless any Trustee objects to the inclusion of an item on the consent agenda by…, Section 5. Quorum, In accordance with M.G.L., Chapter 75, nine Trustees shall constitute a quorum for meetings of the Board. A lesser number may adjourn any meeting to a future date without further notice. A majority of the voting members of any committee shall constitute a quorum. “Committee” as used in these Bylaws includes any standing or special committee, and any sub- or ad hoc committee or task force., Section 6. Order of Business, Unless otherwise determined by the Chair of the Board, the following shall be the order of business at regular meetings of the Board: Call to Order Consideration of the Minutes of Prior Meeting(s) Chair's Report President's Report Consent Agenda Reports of Standing Committees Other Business Consideration of Honorary Degrees (when applicable) Trustee Governance Committee Report (at annual meeting…, Section 7. Executive Sessions, By a vote of a majority of the voting Trustees present at any meeting, the Board may enter into executive session, closed to the public, for the purpose(s) listed in (e) below, consistent with the provisions of the Open Meeting Law. The body must first convene in public session before taking any vote for executive session. The vote shall be taken by roll call and the purpose(s) of the session and…, Article III: Committees of the Board, Section 1. Standing Committees, There shall be six standing committees of the Board of Trustees: The Executive Committee; The Compensation Committee; The Committee on Academic and Student Affairs; The Committee on Administration and Finance; The Audit and Risk Committee; and The Athletics Committee, Section 2. Members of Standing Committees, The Board of Trustees at its annual meeting shall elect the Chairs of each standing committee, and may elect Vice Chairs of said Committees, other than the Executive Committee. After consultation with the Chair of each standing committee, the Chair of the Board shall appoint the members of each such committee, except as otherwise provided in these by-laws. The Executive Committee shall be…, Section 3. Committee Meetings, Time and Location – Committee meetings may be held at any time and place designated by the Chair of the Committee, the Chair of the Board, the President of the University, or three members of the Committee, after consultation with the President. Non-Trustee members – With the concurrence of the Chair of the Board and the President, non-trustees may be appointed as non-voting members of any…, Section 4. Agenda of Committee Meetings, A written agenda of matters to be considered at each meeting of a committee of the Board shall be sent to each committee member at least six days prior to such meeting. Preliminary notice of items to be included in the agenda of said meeting shall be submitted by a Chancellor to the President with a copy to the Secretary at least thirty-one days before the date fixed for said meeting. Items and…, Section 5. Responsibilities of Standing Committees, The Chair of the Board may appoint sub-committee(s), including ad hoc committees, task forces or other bodies of any standing or special committee to assist the full committee in carrying out its duties and responsibilities. Sub-committees shall be assigned to a full standing committee or to a special committee. Executive Committee – The Executive Committee shall have the responsibility of…, Section 6. Committee of the Whole, The Chair may convene the Board as a Committee of the Whole to discuss, review, consider and receive information concerning any matters affecting the University. The Secretary shall send a written notice of the time and place of the meeting to each member at least six days prior to such meetings. A written agenda of matters to be considered shall be included with said notice. Items to be included…, Article IV: Special Committees, Section 1. Trustee Governance Committee and Special Committees, Trustee Governance Committee – There shall be a Trustee Governance Committee of the Board of Trustees. The committee shall consist of not less than three nor more than five members. The committee members and committee chair shall be appointed by the Chair of the Board in June of each year, effective 2007. Said Committee shall serve until the appointment of a new Committee in June of the following…, Article V: Seal of the University, The Common Seal of the University and of the Board of Trustees shall consist of a flat faced circular die with the words "University of Massachusetts" and the date "1863" and the Great Seal of the Commonwealth cut or engraved thereto., Article VI: Amendment to the By-Laws, The Trustees shall have the power to amend, alter or repeal these By-laws, from time to time, by affirmative vote of a majority of the whole Board as then constituted, provided that notice of the proposal to make, alter, amend, or repeal the by-laws was included in the notice of the meeting of the Trustees in which such action takes place. , Doc. T91-100, as amended | Board of Trustees By-Laws, Passed by the Board of Trustees on September 5, 1991 Revised: October 14, 1992 October 6, 1993 December 2, 1993 April 6, 1994 August 10, 1994 October 11, 1995 December 6, 1995 June 5, 1996 October 9, 1996 December 3, 1997 October 7, 1998 December 2, 1998 November 8, 2000 August 4, 2004 August 23, 2006 November 8, 2006 March 14, 2007 December 11, 2008 February 24, 2010 February 27, 2013 September…
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Doc. T92-031, Appendix F, as amended, Passed by the Board of Trustees on June 3, 1992, I. Introduction, The Investment Policy and Guidelines Statement (the “Policy”) of the University of Massachusetts sets forth procedures and guidelines to assist in the day-to-day investment of the Operating Cash Portfolio (the “Fund”) generally referred to as Daily Operating Cash. In addition to Daily Operating Cash, the University has established reserves for future operations. In September of 2008 the…, II. Roles and Responsibilities, The University Investment Committee, The Board of Trustees delegates responsibility for the oversight of the Operating Cash Portfolio to the University Investment Committee (the “Committee”). The Board of Trustees shall approve the Policy and provide overall direction in the execution and implementation of the Policy. The Committee shall review and approve or disapprove investment recommendations made by the University Treasurer,…, The University Treasurer’s Office, Working under the direction and oversight of the Committee, the University Treasurer’s Office is responsible for the day-to-day oversight and administration of the Operating Cash Portfolio. Responsibilities include, but are not limited to, the implementation of the Policy’s asset allocation structure, management of the short-term liquidity reserve investments, accounting and recordkeeping, and…, Investment Consultant, The Investment Consultant shall assist the Committee and Treasurer’s Office in developing and modifying Policy, including the development of an appropriate asset allocation strategy, recommendations on the appropriate mix of investment manager styles and strategies, and recommendations on the selection and retention of outside investment managers. The Consultant shall be responsible for…, Investment Managers, The duties and responsibilities of each of the outside investment managers retained by the Committee to manage portions of the Operating Cash Portfolio include: Invest the assets under its management in accordance with the Policy expressed herein. Managers are expected to meet or exceed their strategy-specific benchmarks, net of all fees and expenses, expressed herein over various and…, Custodian Bank, In order to maximize investment return, no money should be allowed to remain idle. Dividends, interest, proceeds from sales, new contributions and all other monies are to be invested or reinvested promptly. The Custodian(s) will be responsible for performing the following functions: Accept daily instructions from designated Treasurer’s Office Staff; Advise designated investment staff daily of…, III. Investment Objectives, The primary objective of the Operating Cash Portfolio is the preservation of principal and the assurance of appropriate liquidity to meet the needs of the university. The secondary objective of the Portfolio is to maximize the current and expected yield on the Portfolio assets, so as to provide additional income for operating purposes. Therefore, the Portfolio assets are expected to be invested…, IV. Investment Manager Guidelines, Introduction, Full discretion, within the parameters of the guidelines described herein and the specific manager guidelines appended, is granted to the investment managers regarding the selection of securities, and the timing of transactions. For separately managed accounts, managers are responsible for reconciling performance, holdings and security pricing data with the University’s custodian bank for…, General Guidelines, For managers not participating in an Alternative Investments program, the following guidelines are to be adhered to, unless prior approval from the Committee has been granted: There shall be no use of options or commodities without the prior approval of the Committee; Uncovered options or futures contracts may not be purchased; Uncovered short positions may not be purchased; Short selling is not…, Guidelines for Use of Pooled Funds, Mutual funds and other types of commingled investment vehicles provide, under some circumstances, lower costs and better diversification than can be obtained with a separately managed fund pursuing the same investment objectives. However, commingled investment funds cannot customize investment policies and guidelines to the specific needs of individual clients. The Committee is willing to accept…, V. Asset Allocation Targets & Ranges, There shall be a current asset allocation policy target, which represent the long-term objectives of the Operating Cash Portfolio (see Appendix A). The actual allocation of the Portfolio will deviate from the target due to cash flows and market performance. It is expected that these targets will be reevaluated on at least an annual basis and revised by the Committee if significant changes occur…, VI. Performance Benchmarks, The following performance benchmarks for the Operating Cash Portfolio will be calculated by the Investment Consultant on a quarterly basis and reviewed by the Investment Consultant, Treasurer’s Office Staff and Committee on a regular basis:, Total Fund Return:, The Total Fund Return shall represent a composite of the actual performance of all of the Operating Cash Portfolio holdings, including all externally managed assets, internally managed bond holdings, cash and cash equivalents. The Total Fund return shall meet or exceed the Allocation Index return and the Policy Index return, which are each described below., Allocation Index:, The Allocation Index return shall measure the success of the Fund’s current allocation. It shall be calculated by using index rates of return for each asset class invested in by the Portfolio multiplied by the actual percent allocated to each asset class. The difference between the allocation index return and the Total Fund return measures the effect of active management. If the Total Fund return…, Policy Index:, The Policy Index return shall measure the success of the Portfolio’s target allocation. It shall be calculated by using index rates of return for each asset class invested in by the Portfolio multiplied by the percent targeted to each asset class. The difference between the Allocation Index return and the Policy Index return measures the effects of deviating from the target allocation. If the…, Manager Benchmarks:, The Investment Managers shall be compared to a combination of passively managed index returns matching the managers’ specific investment styles, as well as the median manager in their appropriate peer group universe, as described in Appendix A:, VII. Implementation, All monies invested for the fund by its investment managers after the adoption of this Investment Policy shall conform to this policy.
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