The Division of Finance provides and receives vital information, guidance, and support to and from the following University finance committees:
Board of Trustees Budget, Finance & Investment Committee (BFI)
The Budget, Finance & Investment (BFI) Committee of the Board of the Trustees oversees strategic financial planning, and continually assesses the current and long-range financial status of the institution. This includes review of University net assets, debt management, cash management, and the financial, treasury, investment and debt management policies. The Committee also oversees the formation and approval of annual capital and operating budgets, including all student tuition and fees, State appropriations, and capital requests. The Committee makes fund investment decisions (such as those relating to the endowment and similar funds), including asset management and allocation, and policies relating to socially responsible investment.
Board of Trustees Investment Subcommittee (ISC)
The Vice President for Finance and Treasurer reports the following information to the Budget, Finance and Investment (BFI) Committee through the Investment Subcommittee: (1) balances in each asset group; (2) investments in each asset group by manager and investment type or fund; and (3) performance for each manager or for each individual investment type within each asset group. The Investment Subcommittee establishes a target asset allocation and allowable ranges, on an annual basis, for approval and adoption by the BFI Committee.
Board of Trustees Audit Committee
The Board of Trustees Audit Committee is responsible for overseeing the quality and integrity of the University’s financial statements including the selection of, and effective interaction with, the independent auditor; and promoting the development and monitoring the effectiveness of institutional systems of risk management, internal controls, accounting procedures, and compliance with laws and regulations.
Socially Responsible Investing Advisory Committee (SRIAC)
The Socially Responsible Investing Advisory Committee is a group of students, faculty, staff, and administrators that makes recommendations to the Vice President for Finance and Treasurer on sustainability investment at the University of Vermont, including positive investments of operating cash reserves and the Clean Energy Fund.The Council decides to take on issues based on ethical, moral, and socially responsible criteria using the University's "Our Common Ground."
Clean Energy Infrastructure Committee
The Clean Energy Fund was created in response to students’ vision of the University of Vermont running efficiently on a fraction of its current energy needs, powered by clean, locally produced renewable energy that fulfills both the University’s needs and supports the local economy. The role of the Clean Energy Infrastructure Committee (CEIC) is to identify and recommend annually two to three infrastructure projects to the Socially Responsible Investing Advisory Council for funding.