Operating Agreements with Foundations
FROM:���������������������� Richard A. Crofts
SUBJECT:�������������� Operating Agreements with Foundations
DATE:����������������������� March 2, 2000
Board of Regents policy 901.9 governs the relationships between campuses and their affiliated foundations.� One of the changes as a result of that policy was that formal operating agreements are to be in place between the campuses and the foundations and that those agreements would have to be reviewed and approved by the Regents at least every two years.
I want to get all of these agreements on a regular schedule of approval and effective dates.� Therefore, operating agreements should come to the Board of Regents for approval in May meetings and should be effective for one or two years beginning the following July 1st.� If your current operating agreement needs revision, please have the revisions approved by you and the foundation for inclusion in the May agenda for the Board of Regents.� If your operating agreement was approved by the Board of Regents before May of 1999, please have it reviewed and included in the May agenda for the Board of Regents.
cc:������������������ LeRoy� Schramm