Conflict Of Interest Policy - 2021
One of the paramount duties of a member of the Board of Trustees/Key Employee is the duty of loyalty. This duty broadly requires Trustees/Key Employees to be faithful to the University’s best interests.
Each Trustee/Key Employee has a duty to place the interest of the University foremost in any dealings with the University and has a continuing responsibility to comply with the requirements of this policy.
No Trustee/Key Employee shall use his or her position, or the knowledge gained therefrom, in such manner that a conflict between the interest of the University and his or her personal interests arise.
If a Trustee/Key Employee (personally, through a family member or through an ownership interest) has an interest in a proposed transaction with the University in the form of a significant personal financial interest in the transaction, or relationship with any individual or organization involved in the transaction, he or she must make full disclosure of such interest before any discussion or negotiation of such transaction.
Any Trustee/Key Employee who is aware of an actual or potential conflict of interest with respect to any matter coming before the Board shall not be present for any discussion of or vote in connection with the matter.
If a Trustee/Key Employee is uncertain as to whether an actual conflict or potential conflict of interest exists, the Chair of the Board and/or the President of the University should be consulted.
To implement this policy, the Trustees/Key Employees shall complete an annual Conflict-of-Interest Questionnaire. Their statements will be reviewed by the Chair of the Audit Committee and the President of the University, who will attempt to resolve any actual or potential conflicts and, in the absence of resolution, refer the matter to the Board.
In handling any conflict of interest issue the deliberative process shall include an assessment of the intended transaction’s fairness.
1) Do you have a business or family relationship with any other officer, director, trustee or key employee of CMU? See definitions below to help you correctly answer this question. A complete listing of the board and key employees is in the current board book.
If yes, please indicate the names of the individuals with whom you have a relationship and note “family or business” under relationship. No further information is required.
Business relationship is defined as:
Family relationships that need to be disclosed are: Spouse, children, sister, brother, parent, grandchild, grandparent or any spouse of the foregoing.
2) During the previous tax year, have you or any of your family members had any business transactions with the organization, either directly or indirectly through an organization with which you or a family member is a board member, trustee, director or owner? Such as scholarships & performance contracts
If yes, please describe the transaction, dollar amount and the percent ownership if it is with a company you or your family member owns.
3) Are any of your family members employed by the organization?
If so, please name the employed family member
4) Was a loan, salary advance, or other advance made to you by this organization or did you make a loan or advance to the organization that was outstanding as of the end of the previous tax year?
If yes, please describe the transaction and dollar amount.
I have read the Conflict-of-Interest Policy of Central Methodist University.
To the best of my knowledge and belief, except as disclosed, neither I nor any family member is engaged in any transaction or activity or has any relationship with any individual or organization that may represent an actual or potential conflicting interest as set forth in the Conflict-of-Interest Policy.
I acknowledge that by typing my name, it will serve as my signature