William & Mary

Committee on Financial Affairs

Kendrick F. Ashton, Jr., Chair
John E. Littel, Vice Chair
Lynn M. Dillion
Thomas R. Frantz
James A. Hixon 
Christopher M. Little 
Robert E. Scott
H. Thomas Watkins III
Eric Chason, faculty representative
Samuel E. Jones, Vice President for Finance

(Investments Subcommittee- Kendrick F. Ashton, Lynn M. Dillion) 

The Committee on Financial Affairs considers and makes recommendations concerning the financial affairs of William & Mary and the Virginia Institute of Marine Science, which includes the submission and approval of any and all budgets and the administration of the financial policies and procedures established by the Board.  The Committee has power and authority, subject to the guidelines set by the Board, to invest and reinvest all funds held by the Board as an endowment or in trust for the uses and purposes of William & Mary, the Virginia Institute of Marine Science, and Richard Bland, with the assistance of the Presidents; and the Committee directs and controls the handling of investments by an investment counsel or depository agent at any time employed by the Board.  The Rector may appoint a full-time faculty member, as detailed in Section V.B.5., to the position of non-voting faculty committee representative.  The Senior Vice President for Finance and Administration staffs the Committee.