15.1 The Committee on Finance shall have charge and control of the business operations, finances, and funds of the Corporation and shall report thereon at each stated meeting of the Board.
15.2 It shall have oversight of the investments of the Corporation and shall have power to make and to change investments; to sell, assign, and transfer any part of the investments, including stocks, debt instruments, and other securities held by the Corporation or any rights or privileges appurtenant thereto; and to designate a person or persons to execute and deliver in the name and on behalf of the Corporation instruments for the assignment and transfer of stocks, securities, and other investments registered or otherwise held in its name. It shall have power, on behalf of the Corporation, to form or cause to be formed corporations, partnerships, limited partnerships, and such other entities as it may deem appropriate, for the Corporation to hold or manage assets or operations in furtherance of its educational and charitable purposes, and to designate a person or persons to execute and deliver in the name and on behalf of the Corporation instruments for the formation and management of such corporations, partnerships, limited partnerships, and entities. It also shall have the power to determine how the Corporation’s vote shall be cast on any question submitted to the Corporation as a stockholder with respect to corporate stock held by it, and the power to designate a person or persons to execute and deliver in the name and on behalf of the Corporation proxies to vote such stock.
15.3 It shall designate the depositories in which the Treasurer or any Associate or Assistant Treasurer shall be authorized to deposit the monies and other assets of the Corporation, and shall designate a person or persons who shall have power to sign checks on behalf of the Corporation for the withdrawal of its monies, and otherwise to make transfers with respect to its assets.
15.4 It shall have power to enter into agreements on behalf of the Corporation for the purchase and sale of real property, including buildings and improvements thereon, or to establish policies and guidelines for such agreements, purchases, or sales and to authorize the execution and delivery in the name and on behalf of the Corporation of agreements, deeds, or other instruments pertaining thereto, either with or without covenants as it may determine.
15.5 It shall have the power to authorize, review, and approve the issuance and structure of debt, financing, and credit for capital and other corporate purposes, subject to stipulations or limitations provided by resolutions adopted from time to time by the Board. It is specifically empowered to authorize, review, and approve the Corporation’s lending of money, guarantee of obligations, or other assistance to individuals or entities whenever the loan, guarantee, or assistance may reasonably be expected to benefit the Corporation; except that any loan, guarantee, and/or assistance to an officer or other employee of the Corporation who is also a Trustee of the Corporation may only be authorized by two-thirds of the entire Board, with the vote of the interested Trustee not counted. Subject to any express proscription contained in Board resolutions or applicable law, it shall have the power to delegate to the officers of the Corporation any or all of the powers and duties set forth herein, and such officers may delegate further any or all such powers and duties, upon such terms and conditions, and pursuant to such polices, as the Committee may provide.
15.6 It shall, in each year, receive and review the proposed budget showing the estimated receipts and disbursements of the Corporation for the next academic year, and shall present such budget, with such changes as the Committee may make, for the consideration and action of the Board. The Board may approve, amend, or reject the budget so submitted. No monies of the Corporation shall be expended unless the expenditure is authorized by the budget or authorized or ratified by other action of the Board or the Committee on Finance; in the latter instance the action shall be reported to the Board at its next meeting.
15.7 It shall have power to adopt appropriate resolutions accepting on behalf of the Corporation gifts, bequests, devises, and memorials, shall have the power to delegate such authority to officers of the Corporation, and shall authorize the execution and delivery in the name and on behalf of the Corporation of such receipts, releases, indemnity or refunding agreements, or other instruments as may be proper in connection therewith. In determining the acceptability of gifts, bequests, devises, or memorials, and in establishing policies and guidelines for acceptances of the same, the Committee shall act with concurrence, as it deems appropriate, of the Committee on Advancement (with respect to development matters), the Committee on Academic Affairs (with respect to curricular matters), and the Committee on Grounds and Buildings (with respect to campus facilities).
15.8 It may delegate to the Directors of the Princeton University Investment Company any or all of the powers and duties of the Committee on Finance set forth in Sections 15.2, 15.3 and 15.4, and may authorize the Directors of the Princeton University Investment Company to delegate further any or all of such powers and duties, upon such terms and conditions, and pursuant to such policies, as the Committee may provide.
15.9 It shall have power to adopt appropriate resolutions authorizing officers of the Corporation to enter into contracts and other legal agreements on behalf of the Corporation with respect to matters under their charge, with power to delegate such authority as the Committee may specify.
15.10 It shall report regularly, in writing, to the Board concerning the investment program, including all significant actions taken under the authority of the Committee on Finance since the last report, and also shall report orally as required.