Agenda Item No. V. B. 5.

Washburn University Board of Regents





SUBJECT: Board of Regents Conflict of Interest Policy and Annual Conflict of Interest Disclosure Statement



BACKGROUND:



College and university boards increasingly are held to high standards of personal behavior, as are members of other nonprofit, tax-exempt organizations. Higher education is receiving its share of adverse public and media attention, and as public scrutiny becomes more intense, ethical issues grow more complex, more difficult, and therefore, necessary to resolve.



According to the Association of Governing Boards of Universities and Colleges, governing boards must develop sound conflict of interest and disclosure policies to guide individual regents, chief executives, and senior administrators. Consistent adherence to such policies by these individuals will go a long way to preserve the integrity of institutions and boards.

To accomplish this end, the Washburn Board of Regents charged the Board of Regents Audit Committee with the task of developing a conflict of interest policy and annual disclosure statement for the Regents.



DESCRIPTION:



The university administration and Audit Committee members provided background information from other universities and state agencies for consideration in developing the Washburn policy. These documents were reviewed and a draft conflict of interest and annual reporting statement crafted. These documents have been reviewed and revised numerous times during the past few months.



At its meeting on November 5, 2004, the Washburn University Board of Regents Audit Committee approved the attached documents and are recommending they be approved by the Board of Regents.



FINANCIAL IMPLICATIONS: None.



RECOMMENDATION:



President Farley and the Audit Committee recommend the Board of Regents approve the Board of Regents Conflict of Interest Policy and Annual Conflict of Interest Disclosure Statement.



Date __________________ Signature ____________________

Jerry Farley, President



WASHBURN UNIVERSITY BOARD OF REGENTS

CONFLICT OF INTEREST POLICY







The Board of Regents recognizes that honesty, integrity, accountability, responsibility, openness and disclosure of financial relationships and interests are absolutely essential to the educational process and administration of the University. The Board deems it necessary and appropriate for the University to provide an atmosphere in which the highest standards of behavior, accountability and responsibility are inculcated among students, faculty, administrators and regents. To achieve this end, the Board requires a conflict of interest and disclosure policy for all employees of the University.



Board members of Washburn University serve the public trust and have a clear obligation to make decisions solely on the basis of a desire to advance the best interests of the University and the public good. The integrity of the University must be protected at all times.



Recognizing the Board should provides leadership by example, it is the purpose of this policy to ensure objectivity, integrity, and confidentiality

on the part of the regents. All regents shouldshall identify and avoid actual conflicts of interest, and the appearance of a conflict of interest. The Board unanimously agrees iIn order to prevent any potential conflict of interest between regent responsibilities and outside activities from arising, no regent shall participate in an action where he or she is financially interested either directly or indirectly through business, investment, or family in any contract or transaction affecting the interest of the University, nor procure or be a party in any way to procuring the appointment of any relative to any position of trust or profit connected with the University. A regent shallIn addition, there should be proper discloseure of those matters where a conflict of interest arises, or where a potential conflict could theoretically arise. Full disclosure of any situation in doubt should be made so the Board may make an impartial and objective determination of whether a conflict exists.



Thus, the Board requires eEach regent annually shall (a) to be familiar with the terms of this policy; (b) to disclose on the annual conflict of interest disclosure statement any possible personal, familial, or business relationships that reasonably might give rise to a conflict or a perceived conflict involving the University; and (c) to acknowledge by his or her signature that he or she is in accordance with the letter and spirit of this policy. If a regent becomes aware of a potential or perceived conflict of interest subsequent to filing the annual statement, the regent must report this event to the secretary of the Board of Regents.

If a regent is uncertain whether to listdisclose a particular relationship or whether a relationship does constitute a conflict of interest, the board chair and the board secretary should be consulted. The Board of Regents will make the final determination of whether a conflict exists, if necessary.

A regent who believes another board member has a conflict should consult with the board chair and the board secretary or the entire Board, if necessary.

The following definitions are provided to help regents decide whether a relationship should be disclosed:

Business Relationship: One in which a regent, or a member of his or her family as defined below serves as an officer, director, employee, partner, trustee, or controlling stockholder of an organization conductingthat does substantial business with Washburn University that requires Board approval.

Family Member: A spouse, parent, sibling, child, grandchild, or any other relative if the latter resides in the same household as the regent.

Substantial Benefit: When a regent or a member of the regent's family (a) is the actual or beneficial owner of more than 5 percent of the ownershipvoting stock or controlling interest of an organization conducting that does substantial business with the University that requires Board approval, or (b) has other direct or indirect dealings with such an organization from which the regent or a member of the regent's family benefits directly, indirectly, or potentially from cash or property receipts totaling $10,000 or more annually.

Regents who have declared a conflict of interest, or who have been found to have a conflict of interest, shall not be present during the discussion or vote onrefrain from participating in consideration of proposed transactions unless the Board requests information or interpretation for special reasons.

Should a conflict of interest matter require a Board vote to resolve, those concerned shall not be present at the time of the vote.



Each Board of Regents' member shall receive a copy of this conflict of interest policy and agree to comply with the policy by executing a conflict of interest disclosure statement no later than August 1 each year, or within 30 days of appointment to the Board, and sending it to the secretary of the Board of Regents. Each Board of Regents' member shall also notify the secretary of the Board of Regents of any perceived or potential conflict of interest which might arise subsequent to filing the annual conflict of interest disclosure statement.


WASHBURN UNIVERSITY BOARD OF REGENTS

ANNUAL CONFLICT OF INTEREST DISCLOSURE STATEMENT







I have read the Washburn University Board of Regents Conflict of Interest Policy and understand its provisions, and hereby provide the following information (attach additional pages as necessary):





4. Are you aware of any business or personal relationships between Washburn University and yourself, your firm or a member of your family as defined by the letter or spirit of this policy that may represent a conflict of interest?



Yes
No

If Yes, please list such relationships, with whom the relationships exist, and the

details of annual or potential financial benefit as you can best estimate them.





5. List any organization or business in which you or a member of your family currently serve (or have served during the last twelve months) as a member, director, trustee, officer, partner or agent of or for the organization or business, irrespective of the amount of compensation received for holding such position (if none, write "None"):





Business Name and Address Position Held Held by Whom












6. List any person or business from whom you or a member of your family have received gifts, loans or honoraria, or loans with preferential treatment or terms from any source (excluding public credit card companies). from which the University buys goods or services or otherwise has significant business dealings in the preceding twelve months (if none, write "None").





Name of Business or Person Address Received by:


DECLARATION:





I, _______________________________, declare that this conflict of interest disclosure (including any accompanying pages and statements) has been examined by me and to the best of my knowledge and belief is a true, correct and complete statement of all my economic interests and other matters required by the conflict of interest policy.







DECLARATION OF INTENT:





I declare that I will notify the secretary of the Board of Regents of any perceived or potential conflict of interest which might arise subsequent to filing this annual conflict of interest disclosure statement as required by the conflict of interest policy.









___________________ ______________________________________

Date Signature





Return your completed statement to the Secretary, Washburn University Board of Regents, no later than August 1 or within 30 days of being appointed to the Washburn University Board of Regents.






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