The New Ethics of Trusteeship: How Public College and University Trustees Can Meet Higher Public Expectations

Expectations of trustees have undergone a dramatic change in the wake of the Enron debacle, the new strictures of the Sarbanes-Oxley Act, and several new state policies, laws, and executive actions. A "new ethic of trusteeship" continues the trend of expecting boards to be more deeply engaged in their governance role. The cumulative effect of public concern over failures of boards, both corporate and academic to honor their fiduciary obligations should lead trustees to pursue and active agenda. This paper focuses primarily on actions by states and public college and university governing boards, but its many suggestions also apply to independent college and university boards.