LCMS Convention Proceedings St. Louis, Missouri — 2019, Page 168

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7. UNIVERSITY EDUCATION
(b) It shall coordinate institutional planning with other
Concordia University System schools and approve
master plans for its college or university.
(c) It shall review and approve academic programs
recommended by the administration and faculty after
assessment of system policies in accordance with
Concordia University System standards and guidelines
and institutional interests and capacities.
(d) It shall review and approve the institutional budget.
(e) It shall approve institutional fiscal arrangements,
develop the financial resources necessary to operate the
institution, and participate in its financial support
program.
(1) Only the board of regents is authorized to
establish a line of credit or to borrow for operating
needs, subject to the policies of the Board of Directors
of Concordia University System and the Board of
Directors of the Synod.
(2) All surplus institutional funds above an adequate
working balance shall be deposited with the
Concordia University System for investment. Earnings
from such investments shall be credited to the
depositing institution.
(f) It shall establish appropriate policies for
institutional student aid.
(g) It shall participate fully in the procedures for the
selection and regular review of the president of the
institution and of the major administrators; approve of
the appointment of faculty members who meet the
qualifications of their positions; approve sabbatical and
study leaves; and encourage faculty development and
research.
(h) It shall take the leadership in assuring the
preservation and improvement of the assets of the
institution and see to the acquisition, management, use,
and disposal of the properties and equipment of the
institution within the guidelines set by the Board of
Directors of The Lutheran Church—Missouri Synod.
(i) It shall operate and manage the institution as the
agent of the Synod, in which ownership is primarily
vested and which exercises its ownership through the
Board of Directors as custodian of the Synod’s property,
the Board of Directors of Concordia University System,
and the respective board of regents as the local
governing body. Included in the operation and
management are such responsibilities as these:
(1) Carefully exercising its fiduciary duties to the
Synod.
(2) Determining that the charter, articles of
incorporation, constitution, and bylaws of the
institution conform to and are consistent with those
of the Synod.
(13) Carrying out efficient business management
through a business managerfinancial officer
appointed on recommendation of the president of the
institution and responsible to him.
(24) Receiving of all gifts by deed, will, or otherwise
made to the institution and managing the same, in
168 | PROCEEDINGS OF THE 2019 (67TH) LCMS CONVENTION

accordance with the terms of the instrument creating
such gift and in accordance with the policies of the
board of regents.
(35) Demonstrating concern for the general welfare
of the institutional staff members and other
employees, adoption of regulations governing off
campus activities, development of policies regarding
salary and wage scales, tenure, promotion, vacations,
health examinations, dismissal, retirement, pension,
and other employee welfare benefit provisions.
(4) Determining that the charter, articles of
incorporation, constitution, and bylaws of the
institution conform to and are consistent with those
of the Synod.
(56) Serving as the governing body corporate of the
institution vested with all powers which its members
may exercise in law either as directors, trustees, or
members of the body corporate, unless in conflict with
the laws of the domicile of the institution or its Articles
of Incorporation. In such event the board of regents
shall have power to perform such acts as may be
required by law to effect the corporate existence of the
institution.
(67) Establishing and placing a priority on the capital
needs of the institution and determining the plans for
the maintenance and renovation of the buildings and
property, and purchase of needed equipment, but
having no power by itself , without the prior consent
of the Board of Directors of the Concordia University
System and the Board of Directors of the Synod, to
close the institution or to sell all or any part of the
property that constitutes the main campus, except
that the Board of Regents may close the institution in
the event of legal insolvency necessitating immediate
closure after consultation with the Board of Directors
of the Synod and the Board of Directors of the
Concordia University System.
(78) Recognizing that the authority of the board of
regents resides in the board as a whole and delegating
the application of its policies and execution of its
resolutions to the president of the institution as its
executive officer.
(89) Establishing a comprehensive policy statement
regarding student life and behavior that is consistent
with the doctrine and practice of the Synod and that
commits the institution to the principles of Christian
discipline, an evangelical manner, and good order.
(910) Promoting the public relations of the
institution and developing the understanding and
cooperation of its constituency.
(1011) Requiring regular reports from the president of
the institution as the executive officer of the board and
through him from other officers and staff members in
order to make certain that the work of the institution
is carried out effectively.
3.10.6.5 Recognizing its fiduciary duty as a board, as well as
the requirements of accrediting bodies that an institution’s
governing board be clearly defined and have ultimate
authority and independence in the operation of the
Resolutions