STUDENT UNION, INC.
SAN JOSÉ STATE UNIVERSITY
AUDIT COMMITTEE CHARTER
SECTION I. PURPOSE OF THE COMMITTEE
The Audit Committee meets to select and recommend to the Student Union Board of Directors an independent certified public accounting firm to perform the annual audit of Student Union, Inc. financial statements; to meet annually with the auditors and management to review the draft audited financial statements and executive summary; and to meet annually with the auditors to review management performance and report findings to the Student Union Board of Directors.
SECTION II. MEMBERSHIP
The Audit Committee may include persons who are not members of SUBOD but shall not
include any members of staff, including the Executive Director, Associate Director
of Administrative Services or the Accounting Manager. The Audit Committee must be
separate from the Finance Committee. Members of the Finance Committee may serve on
the Audit Committee; however, the Chair of the Audit Committee cannot be a member
of the Finance Committee and members of the Finance Committee shall constitute less
than one-half of the Audit Committee membership.
A. At least 1 student from SUBOD (voting)
B. At least 2 other member from SUBOD (voting)
C. Student Union, Inc. Executive Director (non-voting)
D. Student Union, Inc. Associate Director, Administrative Services (non-voting)
E. SUBOD Chair (non-voting)
F. Non-SUBOD Members who wish to join the committee after initial appointments must be approved by the Board.
SECTION III. CHAIR
A. The Audit Committee Chair shall be appointed by the Chair of the Board with approval
of the Board of Directors.
B. The Audit Committee Chair shall be responsible for reporting committee recommendations and findings to the Board.
C. The Audit Committee Chair will preside over all meetings of the committee. If absent, a voting member of the committee shall preside over the meeting as designated by Chair in the agenda.
D. The Chair shall submit the agenda and designate the meeting time and place in compliance with open meeting laws. Members may place items on the agenda, by submitting them to the Chair prior to posting.
SECTION IV. TENURE OF OFFICE
A. The term for each voting member of the Audit Committee will be for one year commencing on July 1st of each year. Voting members may serve on the committee for subsequent years.
SECTION V. DUTIES OF THE COMMITTEE
A. To insure fiscal stability of the corporation consistent with the mission of the
organization and San José State University.
B. To recommend changes to policies regarding finance, budget, investments and safety as necessary.
C. To review and recommend approval of the annual budget to the Board.
D. To present the annual fiscal audit results at the Annual Meeting.
E. To approve any unbudgeted expenditures from Local Reserves.
SECTION VI. QUORUM
A. Quorum shall consist of at least 1 student member and 1 voting member be present
unless waived by Chair.
Approved May 10, 2016
9/10/2019 Agenda (PDF), Minutes (PDF)