5.06 UNIVERSITY BUDGET AND BUSINESS AFFAIRS COMMITTEE (revised 4-30-97 and May 6, 1998) The committee shall insure that academic concerns are the central focus in Drake University's short and long range strategic planning and in the translation of those plans into the University's short and long range budgets. The Committee shall advise the President and his/her cabinet and consult with the Faculty Senate on a continuing basis about University financial planning and the development of the University budget. The committee shall also deal with matters concerning copyrights and patents, investments, and development. One member of the committee shall be selected by mutual agreement with the Senior Vice President for External Affairs to serve as a liaison non-voting member of the Institutional Advancement Committee of the Board of Governors. The committee consists of nine members of the Faculty of Instruction, four of whom are members of the Faculty Senate (when possible) appointed by the Executive Committee for three-year staggered terms using the principle of broad representation, with a minimum of one representative from each college. One-third of the committee members should be in their third, second, and first years of service, respectively. The Faculty Planning Fellow will be a voting member of the Budget & Business Affairs Committee The Vice-President of Business and Finance and Provost are ex officio, non-voting members of the committee. The Chair and Vice Chair, who are in their second or third year of service, are appointed by the Executive Committee before the close of the Spring semester. Meetings of the Committee will begin by June of the year of appointment with information sessions on the University's strategic plans and relevant budget issues to begin over the summer. Representative   Symonds, Deb 98-00   Foskit, Barry/Lytle, J 98-01 * Wright, Sue 99-01 Chair Larsen, Lon 99-02 * Walker, David 99-02   Rozycki, John 98-01   Fejes-Mendoza, Kathy 97-00   Boal, Bill 99-02 * Torgerson, Jon 97-00 ex-officio:   VP Bus & Fin     Provost     Planning Fellow (voting) 1 The paragraph number provided for each committee refers to the Senate Rules. The asterisk (*) indicates members serving on the 1995-1996 Faculty Senate. (Academic Charter) denotes that this committee is required by the Academic Charter of the University.