Midwestern Higher Education Commission

“The Executive Committee has authority to act on behalf of the board. The Executive Committee is made up of commissioners chosen by the Board of Commissioners. Two executive board members are chosen from each state giving the states equal representation and equal authority and votes.”

“Compact Members: The members of the Compact are the 12 Midwestern states identified in the compact statute: Illinois, Indiana, Iowa, Kansas, Michigan, Minnesota, Missouri, Nebraska, North Dakota, Ohio, South Dakota and Wisconsin. To become a member, the states must enact the compact statute. Once enacted, the appointing authorities in each of the compacting states shall forward the names of their appointees to the Compact staff. The Compact staff shall promptly advise the appropriate appointing authorities of the need to appoint new commission members upon the expiration of designated terms. Affiliate Members: States not eligible to become a party to the Compact and/or Canadian Provinces may become affiliate members when mutual interests exist and when it would benefit the Compact to enter into such arrangements. Associate Members: Entities not eligible to become members of the Compact may be afforded status as associates of the Commission in accordance with the policies and procedures approved by the Commission.”

“Each compact member may appoint five resident members of each state to the commission as follows: the governor or the governor's designee who shall serve during the tenure of office of the governor; two legislators, one from each house (except Nebraska, which may appoint two legislators from its Unicameral Legislature), appointed by the appropriate appointing authority in each house of the legislature; and two other at-large members, at least one of whom shall be selected from the field of higher education. The at-large members shall be appointed in a manner provided by the laws of the appointing state. All vacancies shall be filled in accordance with the laws of the appointed states.”

“A draft return is reviewed by the President, Chief Operating Officer, Chief Financial Officer and Director of Finance and Administration. The draft is then forwarded to a Finance and Audit Committee for their review. Once approved it is then forwarded to the organization's officers for their approval."”

“The conflict of interest policy covers the governing board and officers. Annual statements are reviewed by the Director of Communications and Marketing. If a conflict was known, that individual would be required to refrain from voting on the matter.”

“Compensation for the President is recommended by the Executive Committee. The Executive Committee uses comparability data for similar organizations. The final determination and discussion is documented in the minutes at the full board meeting in June. This process is done on an annual basis. Compensation for other officers is determined by the President on an annual basis.”

“Governing documents are currently available on the Compact's website. Financial statements and the conflict of interest policy are made available upon request.”

“Other Professional Fees: Program service expenses 772,198. Management and general expenses 23,166. Fundraising expenses 0. Total expenses 795,364.”

“Restatement of Audit Beg Net Assets for adoption of GASB Lease Standard -721,116.”