South Carolina Research Authority

“The scra shall consist of a board of twenty four trustees that includes the following ex officio members: president of the council of private colleges of south carolina, chairman of the south carolina commission on higher education, president of clemson university, president of the medical university of south carolina, president of south carolina state college, president of the university of south carolina, director of savannah river national laboratory, president of francis marion university, chairman of the state board for technical and comprehensive education, governor of south carolina or his designee, chairman of the house ways and means committee or his designee, chairman of the senate finance committee or his designee, and the secretary of commerce or his designee. The governor shall name the chairman who must not be a public official and who serves at the pleasure of the governor. The remaining ten trustees must be elected by the board of trustees from a list of nominees submitted by an ad hoc committee named by the chairman and composed of the members serving as elected trustees. Each of the congressional districts of south carolina must have at least one of the ten trustees.”

“Prior to submission to the irs, scra's director of finance and administration, its controller and its independent audit firm review the 990 in detail. It is reviewed by the scra audit & finance committee and is made available to the board of trustees for their review before it is submitted.”

“Scra officers and trustees are subject to south carolina law and are required to file an annual disclosure with the south carolina state ethics commission.”

“Compensation for scra's employees, including that of officers and key employees, is set by the executive committee of the board of trustees (the governing body for scra) as recommended by the audit & finance committee.”

“The organization's governing documents and conflict of interest policy are made available upon request under the sc foia laws. Scra is governed by title 13, chapter 17 of the sc code of laws.”

“In accordance with the provisions of section 13-17-20 of the enabling act, and the finding of the general assembly of the state of south carolina in establishing the authority that the future economic viability of south carolina can best be assured by building strong industries of advanced technology, that in order to develop better employment opportunities and improve the standard of living in south carolina the state must aggressively pursue and encourage research and development organizations and high technology manufacturers to locate in this state, and that this state must take steps to insure that it develops its human resources by providing opportunities for its residents, the authority was organized and shall operate to enhance the research capabilities of the state's public and private colleges and universities, to establish a continuing forum to foster greater dialogue throughout the research community within the state, and to promote the development of high technology industries and research facilities in south carolina. In accordance with the enabling act, the objectives of the authority include but are not limited to the following: (1) to advance the general welfare of the people; (2) to increase the opportunities for employment of citizens of south carolina; (3) to develop the human, economic, and productive resources of south carolina; (4) to promote and encourage expansion of the research and development sector, with emphasis on capital formation and investments in research and development within south carolina; (5) to create and maintain a dialogue between the public and private research communities; (6) to enhance the potential for private support for south carolina public and private colleges and universities, to promote cooperative research efforts between the private sector and such colleges and universities, and to strengthen the partnership among state government, higher education, and business and industry; (7) to assist south carolina public and private colleges and universities in attracting nationally prominent academic researchers and professors and to serve as an initial linkage between the state's outstanding existing research and the business and industrial sector; (8) to maximize the research capabilities of the public and private colleges and universities in south carolina; and (9) to foster and advance both the capability and recognition of south carolina as an international leader in idea generation and the development, testing, and implementation of new advances in science and technology.”

“Oversight of audit: there have been no changes during the year in the process for oversight of the audit of the financial statements.”