(1) To assist the Utah Board of Higher Education to fulfill the board's statutory duty to control, oversee, and regulate the Utah System of Higher Education under Subsection 53H-1-203(1) (a)(ii), each board of trustees shall act in alignment with the board and through the following powers and duties: (a) act on behalf of the institution in performing fiduciary and other duties, responsibilities, and functions that either statute or the board authorizes; (b) facilitate communication between the institution and the community; (c) in consultation with stakeholders in the institution's region, prepare, approve, and monitor progress on a strategic plan for the institution that aligns with: (i) state attainment goals; (ii) workforce needs; (iii) the institution's role, mission, and distinctiveness; (iv) board goals and metrics described in Section 53H-1-203; and (v) the Utah Board of Higher Education strategic plan; (d) carry out duties regarding institutional governance described in Subsection 53H-1-203(2)(m); (e) regarding the institution's president: (i) participate in a presidential search in accordance with Section 53H-3-302; (ii) (A) establish key performance indicators and annually evaluate the president's performance against the key performance indicators; and (B) consult the board regarding the president's performance to help the board facilitate the board's responsibility in Subsection 53H-3-303(11)(b) to evaluate presidential performance; and (iii) consult with the president regarding: (A) the organization and structure of the institution; and (B) the organization and governance of faculty, tenure and post-tenure, and other personnel issues; (f) consult with the president and approve a recommendation to the board to annually determine the institution's proposed tuition and general fees; (g) assist the president in executing budget processes, including: (i) approving an annual budget and fund balances; (ii) planning, implementing, and executing fundraising and development projects for supplementing institutional appropriations; and (iii) establishing budgetary policies, including: (A) policies regarding benefits and endowment investments; and (B) presidential expenditures, including thresholds that require notification of expenditures to the board of trustees; (h) review, consider, and approve the institution's awards, credentials, minors, and emphases, including programs in accordance with Section 53H-3-603 and board guidelines and board policies, changes to existing programs, and expedited program approval and termination procedures to meet market needs; (i) approve budgetary and audit policies that are necessary for the effective administration of the institution; (j) oversee internal audits of the institution, including serving as or creating a subcommittee of the board of trustees to serve as the institution's audit committee, as that term is defined in Section 63I-5-102; (k) report to the board in accordance with statutory requirements and board policies; and (l) perpetuate and strengthen alumni and community identification with the institution's traditions and goals. (2) The board shall provide independent, professional staffing and advising support to institutional boards of trustees.
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