Board of Trustees | The Ohio State University

3335-1-02 Officers of the board.

(A) Number. The officers of the board shall be a chair, a vice chair, a secretary and a treasurer. Any person may hold any two or more offices and perform the duties thereof, except the offices of chair and vice chair.

(B) Election, term of office, and qualifications.

(1) The officers of the board shall be elected at the May meeting of the board of trustees. They shall take office immediately following the adjournment of the meeting at which they were elected and shall hold their office through the following May meeting of the board of trustees and until their successors are elected and qualified.

(2) The chair and the vice chair must be members of the board of trustees. The qualifications of all other officers shall be determined by the board.

(C) Additional officers. In addition to the officers mentioned in paragraph (A) of this rule, the board may designate such other officers as the board may deem necessary. These additional officers shall have such authority and perform such duties as may from time to time be delegated to them by the board.

(D) Removal. Any officer of the board may be removed at any time, either with or without cause, by resolution adopted by the board of trustees at any meeting of the board, the notice of which having specified that such removal action was to be considered.

(E) Chair.

(1) The chair, when present, shall preside at all meetings of the board; shall sign the journal of all proceedings of the board; and in general, shall perform such duties as usually pertain to this office and such other duties as from time to time may be assigned to the chair by the board. The members of all committees of the board shall be appointed by the chair, unless otherwise ordered by the board.

(2) Unless specifically provided to the contrary by the board, the chair may assign any of his or her duties to another member of the board.

(F) Vice chair.

(1) At the request of or in the absence or disability of the chair, the vice chair shall perform all the duties of the chair and, while so acting, shall have all the powers and authority of, and be subject to all the restrictions upon, the chair. In addition, the vice chair shall perform such other duties as from time to time may be assigned to him or her by the board or by the chair.

(2) Unless specifically provided to the contrary by the board, the vice chair may assign any of his or her duties to another member of the board.

(G) Secretary.

(1) Under the direction of the president and with the approval of the board of trustees, the secretary of the board of trustees shall:

(a) Be the custodian of and responsible for the official books, records, and all transactions of the board, and such books, records, and transactions shall be open to public inspection in accordance with Ohio law;

(b) Be the custodian of the university seal and cause its imprint to be placed whenever and wherever appropriate;

(c) Sign, execute and deliver in the name of the university all deeds, mortgages, bonds, contracts and other instruments authorized by the board;

(d) Keep the minutes of all meetings of the board and of committees of the board; and

(e) See that all notices are duly given in accordance with the provisions of these rules.

(2) In addition, the secretary shall perform such other duties as from time to time may be assigned to him or her by the board or by the chair.

(3) The associate secretary of the board shall be responsible for the management of all operational and administrative functions for the office of the board of trustees and in the absence of the secretary, or if a vacancy in the board secretary position exists, the associate secretary shall perform the duties of the secretary of the board and all oficial actions taken by the associate secretary shall be deemed authorized and approved by the board of trustees.

(H) The treasurer.

(1) The treasurer of the university shall be the treasurer of the board. Under the direction of the president and the senior vice president for business and finance and chief financial officer, and with the approval of the board of trustees, the treasurer of the university and of the board shall:

(a) Receive such moneys as, in accordance with law, are not to be deposited with the state treasurer;

(b) Have charge and custody of, and be responsible for all funds, securities, notes, contracts, deeds, documents, and all other indicia of title in the university and valuable effects of the university; receive and give receipts for moneys due and payable to the university from any sources whatsoever; deposit all such moneys in the name of the university in such banks, trust companies or other depositories of the university; be responsible for the accuracy of the amounts of and cause to be preserved proper vouchers for all moneys disbursed;

(c) Keep, or cause to be kept, in the treasurer's office at the university correct records of the financial affairs of the university, and exhibit such records to any of the members of the board upon request at such office;

(d) Render to the board, whenever it shall require the treasurer to do so, an account of the financial condition of the university and all of his or her transactions as treasurer, and, as soon as may be after the close of each fiscal year, make and submit to the board a like report for such fiscal year; and

(e) Give bond, payable to the state of Ohio for the use of the university, in such sum as the board shall determine:

(i) For the safe keeping of all university funds,

(ii) For the payment of same in accordance with the rules of the board, and

(iii) For the faithful discharge of his or her duties as treasurer.Such bond shall be signed by a surety company authorized to do business in the state of Ohio, and the premium thereon shall be paid by the university. Such bond shall be approved by the attorney general and filed with the secretary of state.

(2) In the capacity solely as board treasurer, the board treasurer shall have exclusive responsibility for recommending to the trustees qualified providers of financial services, which services are necessary to implement university operational and policy decisions and the trustees shall act directly on such recommendation, delegating no part of that duty.

(a) In making the recommendation the board treasurer shall broadly survey the financial service community for qualified providers, requesting proposals from them.

(b) From qualified providers responding, the one recommended shall offer:

(1) The lowest price, and

(2) Treatment, including price, preferential to or the same accorded other customers in similar transactions.

(c) Trustees shall file with the board treasurer on or about the fifteenth of April of each year, on a form prepared by such treasurer, a full disclosure of any financial or fiduciary interest the trustee, a member of the trustee's family, or any business associate of the trustee may have in any financial service provider who may be qualified to do business with the university.

(d) The board treasurer shall notify the trustees of any proposed transaction with a financial service provider in which any trustee, his or her family or business associate, has an interest, and the interested trustee shall abstain from the deliberations and from the vote with respect to the proposed financial services contract.

(e) Prior to recommending the award of contract pursuant to this subparagraph, the board treasurer shall inform the senior vice president for business and finance and chief financial officer of the recommendation and the basis therefore.

(3) In addition, the treasurer shall perform such other duties as from time to time may be assigned to him or her by the board or by the chair. (B/T 10/4/2002)

return to top

Begin OSU masthead and toolbar