Informational Handouts/Attachments distributed with Agenda: 1.        Recommendation to Approve MOU 2.        WU WEA MOU – DRAFT (as approved by Liaison Committee on 10.19.06) Informational Handouts/Attachments distributed at meeting: 1.        Final Audit Report (handout at meeting after approval by Audit Committee on 10.27.06)

 

 

 

 

 

 

WEA Board of Directors

WU Board of Regents

Joint Meeting

Topeka Country Club

October 27, 2006

6:00 p.m.

 

 

 

1. Welcome & Introductions:       
1. Ed Glotzbach, Chair, Washburn Endowment Association
2. Maggie Warren, Chair, Washburn University Board of Regents

 

2. Information and Discussion: Overview of MOU

 

3. Action:  Memorandum of Understanding between WEA and WU

 

1. Approval by Board of Regents
2. Approval by Board of Directors

 

4. Information:  WEA Independent Audit Report and Financial Statements for fiscal year ending June 30, 2006

 

5. Adjourn

 

     

 

Washburn University Board of Regents

Washburn Endowment Association Board of Directors

 

 

 

 

 

SUBJECT:      Memorandum of Understanding between Washburn University and Washburn Endowment Association

 

 

DESCRIPTION:

The Memorandum of Understanding defines the relationship between Washburn University and the Washburn Endowment Association, outlines the respective responsibilities and expectations of each organization, provides a description of the financing of and planning for the Association, outlines the general guidelines for both accepting restricted gifts on behalf of the university and managing the gift funds, establishes guidelines for the sharing of information between the organizations, and outlines procedures for terminating the relationship.

 

 

RECOMMENDATION:

The Liaison Committee of the Washburn Endowment Association and Washburn University recommend approval of the Memorandum of Understanding dated October 19, 2006.