The University’s Board of Trustees is responsible for establishing an overall debt policy and approving the issuance of all external debt, including all short- and long-term obligations, guarantees, and instruments that commit the University to future payments. The Board will be advised by the Finance Committee on all debt-related topics.
The University’s Vice President for Business Affairs will manage the overall debt portfolio according to the University’s debt policy. The Vice President for Business Affairs will consult with the senior administration, Finance Committee, and the Board with respect to all financial matters associated with procuring, renovating, and managing capital assets.
The Vice President for Business Affairs will report regularly to the Finance Committee on the status of the University’s debt portfolio and its plans regarding debt. This review will include an assessment of the University’s credit rating and key financial ratios compared to targeted levels and those of peer institutions.