Join us on May 7 for an AGB exclusive webinar, where the authors of AGB’s latest report, Diversifying Governing Boards will discuss their findings and insights.
To serve as effective fiduciaries, governing board members must put the best interests of the institution first, to ensure its mission fulfillment and long-term sustainability. While they must be open and listen to a wide range of viewpoints and approaches from a range of constituencies, they must also sharpen their ability to recognize and, if necessary, reject influences they determine are not in line with their fiduciary responsibilities. Governing boards must demonstrate their independence for both fiduciary and accreditation purposes.
This statement was approved on November 10, 2023, by the Board of Directors of the Association of Governing Boards of Universities and Colleges. The following principles are intended to guide boards in the governance of colleges, universities, systems, and related foundations; inform them of their roles and responsibilities; and clarify their relationships with presidents, administration, faculty, and others involved in the governance process.
Appointing qualified, informed board members who understand and embrace fiduciary duties and governance leading practices is imperative. This checklist, adapted from the Minnesota Regents Candidate Advisory Council, outlines the capabilities and accountabilities appointees should embody.