Budget, Audit and Investment Committee

The Budget, Audit and Investment Committee assists the board in fulfilling its responsibility to monitor the financial health of the organization and ensure that its assets are protected and its resources are used properly. Further, it monitors the financial reporting, system of internal controls over financial reporting, external audit process, internal audit function and compliance with applicable laws and regulations. 

The board has delegated authority to the committee to: review and recommend changes to the annual budget; review significant variances from budget and understand the reasons for those variances and pursue, without constraint or participation of the staff, matters within its scope of responsibilities; oversee the operating fund and foundation endowment assets in accordance with the board-approved investment policy statement; review the asset allocation policy targets established for the endowment; formulate a spending rate recommendation for the endowment for annual budgeting purposes; engage the services of such custodians, trustees, fiscal agents, investment consultant(s), investment managers and other professional personnel as it shall deem necessary in the performance of its duties.

Portrait of Carlton M. Arrendell ’84

Carlton M. Arrendell ’84

Director, Real Estate Development, University of Pennsylvania
Portrait of Dr. James L. “Jim” Cantor ’81, ’84

Dr. James L. “Jim” Cantor ’81, ’84

Chief of Performance Excellence & Strategic Partnerships, Leidos
Portrait of Jason I. Cohen ’96

Jason I. Cohen ’96

CEO, Halen Brands, Inc.
Portrait of Charles W. “Chuck” Daggs ’69

Charles W. “Chuck” Daggs ’69

Retired Board Member, KIPP Foundation
Portrait of Gail Segal Elmore ’75, ’78

Gail Segal Elmore ’75, ’78

Executive Vice President, L W Investment Management (USA) LLC
Portrait of Eric S. Francis ’71

Eric S. Francis ’71

Chairman and CEO, The CBMC Group
Portrait of William M. Greenblatt, Esq. ’79

William M. Greenblatt, Esq. ’79

Chairman, Montague Street Capital
Portrait of Barry P. Gossett ’62

Barry P. Gossett ’62

Principal, Gossett Group
Portrait of Lisa Kidd Hunt ’97

Lisa Kidd Hunt ’97

Executive Vice President of International Services, Charles Schwab & Co.
Portrait of Dr. Ruchi Mehta ’00

Dr. Ruchi Mehta ’00

Retired Managing Director, Healthcare Investments, Lone Pine Capital


Chair: Ruchi Mehta
Committee staff: Cynthia Allen
Associate Vice President, Finance and Operations for University Relations
Vice President/Chief Financial Officer/Treasurer

UMCP Foundation
4603 Calvert Road, College Park, MD 20740
callen11@umd.edu | 301.955.1264

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