Denison University

“Seven of the standing committees of the board of trustees document their meetings with minutes: buildings & grounds, enrollment, finance & audit, investment, student affairs, trustee affairs, and university relations and development. There are no minutes for the committee on academic affairs. However, personnel actions taken by the committee are forwarded to the full board where they are recorded in the minutes of the full board business meeting upon approval. There are no minutes for the committee on alumni affairs. This committee meets once per year for the sole purpose of selecting nominees for alumni citations. The list of nominees is forwarded to the full board where the names are recorded in the minutes of the full board business meeting upon approval. There are no minutes for the committee on honorary degrees. Names of nominees are forwarded to the full board where they are recorded in the minutes of the full board business meeting upon approval. There are currently no meetings of the executive committee.”

“Form 990 was presented to the finance & audit committee of the board of trustees for review at their may, 2016 meeting.”

“Responses to the Conflict of Interest questionnaire are reviewed annually by the Committee on Trustee Affairs. Results of the review are reported to the full Board. Procedurally, the Human Resource Office and/or the President's Office annually distributes the conflict of interest questionnaires for completion by Trustees, Officers, Administrative staff and Teaching Faculty acting in administrative capacities. The completed forms are reviewed when returned. To the extent that those completed by Board Members or Senior Administrators reveal a possible conflict of interest, they are forwarded to the Committee for further consideration. Additionally, if there is reasonable cause to believe that anyone has failed to disclose actual or possible conflicts of interest, the Committee shall be informed and pursue these concerns. The President or her/his designee reviews the completed questionnaires by all other Members of the Administration and Members of the Teaching Faculty acting in an administrative capacity and properly carry out the provisions of the policy on all matters of a conflict of interest. The President or her/his designee will provide a written report to the Chair of the Board on all matters of conflict of interest which he or she has addressed administratively. Denison's policy details specific procedures for handling potential conflicts of interest. Family and Business Relationships are disclosed in the Form 990.”

“At its April meeting each year, the Board of Trustees delegates to its Chair and two Vice Chairs the authority to review and approve compensation levels for the senior administrative staff of the college. The Chairs and Vice Chairs deliberate and approve these salaries, typically in June, after conferring on job performance and reviewing independently compiled comparable information. At its October meeting each year, the Board ratifies the actions of the Chair and Vice Chairs of the Board with regard to the salaries and the following is recorded in the minutes of the Board so as to provide adequate documentation of the basis for determination of salaries: - None of the individuals holding senior positions are members of the Executive Committee of the Board of Trustees approving the salaries. - The Chair and Vice Chairs of the Board conferred on matters of job performance and relied upon an independent valuation of the compensation or consideration. The approved salary in each case was reviewed and compared to salary data for the comparable positions for the other Great Lakes Colleges Association (GLCA) and Associated Colleges of the Midwest (ACM) Colleges as compiled independently by the respective GLCA/ACM Consortia staffs. The salaries awarded do not provide benefits in excess of the value of the services being rendered to Denison University. The GLCA and ACM salary information used by the Chair and Vice Chairs in establishing the salaries of senior administrators is also shared in executive session with the entire Board of Trustees each October. The GLCA/ACM comparative information is maintained over time so as to provide the Board with historic trend information as well as current information. Internal information is also provided to the Board related to cost per student and senior salaries as a percentage of total payroll and total institutional revenue.”

“Denison's audited financial statements are made available to the public through our Finance Office website. Governing documents and conflict of interest policy are available upon request from the Vice President for Finance and Management.”

“The college has adopted and follows a document retention and destruction policy. However, the policy has not yet been approved by the board of trustees. As such, we are required to answer "no" to the question on line 14 of part vi even though the college has implemented and follows such a policy.”

“Post-retirement related charges other than net periodic post-retirement cost: ($5,035,126); actuarial adjustment of split interest agreements: $665,942; capital contribution to subsidiaries from noncontrolling interest: $568,500; total adjustment: ($3,800,684).”