Augsburg University

“The executive committee consists of the chair and other officers, plus at least four other members elected by the board of regents. The executive committee has the authority of the board of regents in the management of the business of the college in the interval between meetings of the board of regents, and the executive committee is at all times subject to the control and direction of the board of regents.”

“An independent public accounting firm prepares the form 990 based on data supplied by management of the college. The draft of the form 990 is reviewed by management with any corrections and changes being incorporated into the document. The updated draft of the form 990 is provided to the finance committee for their review and approval for submission. A copy of the form 990 is provided to the board of regents prior to submission.”

“Augsburg college has both a conflict of interest policy specific to its board of regents and employees to protect and safeguard the interests of augsburg college. Each year, the board of regents are required to disclose any potential or actual conflicts of interest in their service to augsburg college. Such forms are reviewed by the board chair, or his/her designee, with appropriate action taken. Regents are required to disclose any conflict prior to discussion at meetings and to recuse themselves from voting, as recorded in the minutes. Augsburg college also seeks to avoid conflicts between the personal interests of employees and the interests of the college. In the event an employee or their family member may have a financial, personal, or professional interest that could potentially create an adverse conflict of interest involving the college, the employee is required to provide written disclosure to the appropriate vice president. The employee is then required to refrain from participating in the college's consideration or processing of the transaction to avoid any influence upon such transaction.”

“The president's compensation is reviewed, and adjusted if necessary, annually by the board of regents executive committee. Human resources provides survey data from the college and university professional association for human resources (cupa-hr). This information is based on over 150 schools that compare to augsburg regarding enrollment size, undergraduate and graduate programs, as well as other elca colleges. This information is sent to the executive committee each summer and then the review occurs during the next few months before being communicated to the president in fall by the board chair. If a salary increase is approved by the board, a personnel action request form is submitted. This process was last undertaken in january 2013 for the president and the provost. The independent review of salary and benefits was conducted by an external firm, sullivan cotter and associates. A review of the president's salary using survey data from cupa-hr is conducted by the board of regents executive committee annually. The president annually reviews the compensation for all cabinet members. He determines the compensation for his direct reports, but leaves the final decision to the appropriate vice president for key employees that do not report directly to him. Human resources provides survey data from the college and university professional association for human resources (cupa-hr), as well as industry specific compensation information for certain positions. The cupa-hr salary information is based on approximately 150 colleges both nationally and across the midwest and includes institutions with similar student enrollment and budget size, as well as other elca colleges. Human resources provides this information to the president each spring, and the review occurs during the next few months. The president communicates the compensation increase to the cabinet member and human resources ensures a personnel action request form is completed. This review was last conducted in spring 2013.”

“The college makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.”

“Adjustment of actuarial liability 31,645. Change in allowance for uncollectible pledges -197,149. Net gains on endowment investments -366,401.”