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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 James L. “Jim” Cantor ’81, M.S. ’84

James L. “Jim” Cantor ’81, M.S. ’84

Consulting Employee, Leidos
Portrait of Carlton M. Arrendell ’84

Carlton M. Arrendell ’84

Director, Real Estate Development, University of Pennsylvania
Portrait of Jason I. Cohen ’96

Jason I. Cohen ’96

Serial Entrepreneur
Portrait of Charles W. “Chuck” Daggs ’69

Charles W. “Chuck” Daggs ’69

Corporate and Non-Profit Board Member
Portrait of V. Raymond “Ray” Ferrara ’70

V. Raymond “Ray” Ferrara ’70

Executive Chair, ProVise Management Group LLC
Portrait of Eric S. Francis ’71

Eric S. Francis ’71

Chairman and CEO, The CBMC Group
Portrait of Barry P. Gossett ’62

Barry P. Gossett ’62

Retired Principal, Gossett Group
Portrait of William M. Greenblatt ’79

William M. Greenblatt ’79

Chairman, Montague Street Capital
Portrait of Lisa K. Hunt ’97

Lisa K. Hunt ’97

Managing Director, Charles Schwab
Portrait of Ruchi Mehta Ph.D. ’00

Ruchi Mehta Ph.D. ’00

Retired Managing Director, Lone Pine Capital LLC

Staff

Chair: Jim Cantor
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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