Statement Summary: Provided a description of the tasks and responsibilities of the institution's governing board, administration, and faculty.
§The
Governing Board:
§"The board plays a central role in relating the likely
needs of the future to predictable resources;
it has the responsibility for husbanding the endowment; it is responsible for obtaining needed capital and operating
funds; and in the broadest sense of the term, it should pay attention to personnel policy."
§"One of the governing board's important tasks is to define
the overall policies and procedures of the
institution."
§"The governing board of an institution of higher
education, while maintaining a
general overview, entrusts the conduct of administration to the administrative
officers - the president and the deans - and
the conduct of teaching and research
to the faculty. The board should undertake appropriate self-limitation."