Conflict of Interest: Board of Trustees and Executive Officials

Policy number01-01
Responsible officeBoard of Trustees
Enforcement officialSecretary of the Board
ClassificationBoard of Trustees Policy
Category01. Powers and Limitations of the Board

Statement of policy

Board of Trustees Members and Executive Officials/Senior Administrative Officers of Western Michigan University shall at all times act in a manner consistent with their fiduciary responsibilities to the University and shall exercise particular care that no detriment to the University results from conflicts between their interests and those of the University.

Board of Trustees Members and Executive Officials/Senior Administrative Officers of Western Michigan University shall at all times act in a manner consistent with their fiduciary responsibilities to the University and shall exercise particular care that no detriment to the University results from conflicts between their interests and those of the University. If a Trustee or an Executive Official/Senior Administrative Officer believes he/she may have a conflict of interest, the Trustee or Executive Official/Senior Administrative Officer shall promptly and fully disclose the conflict to the secretary of the Board of Trustees and shall refrain from participating in any way in the matter to which the conflict relates until the conflict question has been resolved.

A Trustee or Executive Official/Senior Administrative Officer is considered to have a conflict of interest when the Trustee or Executive Official/Senior Administrative Officer or any of his/her family or associates, either (i) has an existing or potential financial or other interest which impairs or might appear to impair the Trustee’s or Executive Official’s/Senior Administrative Officer’s independence of judgment in the discharge of responsibilities to the University, or (ii) may receive a material financial or other benefit from knowledge of information confidential to the University. The “family” of a Trustee or Executive Official/Senior Administrative Officer includes his/her spouse, parents, siblings, children, other relatives, other individuals living in the same household and sharing expenses, and persons with whom a Trustee or Executive Official/Senior Administrative Officer has a close personal relationship. An “associate” of a Trustee or Executive Official/Senior Administrative Officer includes any person, trust, organization or enterprise of, in or with which the individual or any member of his/her family (i) is a director, officer, employee, member, partner or trustee, or (ii) has financial interest that represents five (5%) percent or more of his/her assets or any interest that enables him/her acting alone or in conjunction with others, to exercise control or to influence policy significantly, or (iii) has any other material association.

The secretary shall consult with the president and general counsel regarding all conflict questions of which the secretary is informed and shall report regularly to the Board of Trustees regarding any unresolved conflict questions. This policy statement is to be interpreted and applied in a manner that will best serve the interests of the University. In some cases it may be determined that after full disclosure to those concerned the University’s interest are best served by participation by the Trustee or Executive Official/Senior Administrative Officer despite the conflict.

This policy is in addition to any obligations imposed on a trustee or executive official/senior administrative officer by the state conflicts of interest laws, 1968 PA 317 and 318, as amended.

History

Effective date of current versionDecember 1, 2000
Date first adoptedSeptember 17, 1993
Proposed date of next reviewApril 1, 2019