SURA® FINANCE COMMITTEE
THE GEORGE WASHINGTON UNIVERSITY
ELLIOTT SCHOOL OF INTERNATIONAL AFFAIRS
RESOURCE ROOM
TUESDAY, NOVEMBER 8, 2005
10:30AM – 5:00PM
_______________________________________________________________________________________
Note: Meeting is scheduled to commence at 10:30am. Finance Committee members will join the JLab
Committee at 11:00am for a special update and review of the DOE competition. Finance Committee will
reconvene after lunch (City View Room, 7th Floor) at 1:00pm for its meeting.
_______________________________________________________________________________________
•
•
•
•
•
•
•
FY 05 in Review
ƒ Slower pace of re-compete and IT Initiatives
ƒ Continued growth of Coastal program
ƒ Continued growth in net assets
SURA Corporate Financials
ƒ Key operating variances
ƒ FY 05 operating results (latest est.)
ƒ Programmatic view
Status of Credit Facilities
ƒ Financing costs and returns
ƒ Current and optimum debt level
Investment Performance (SB presentation)
ƒ Current strategy & performance
ƒ Final phase of asset reallocation
ƒ Outlook for FY 06
FY 06 Corporate Budget
ƒ Key drivers, assumptions and variables
ƒ Operating forecasts and analyses
ƒ JLab Director budget request supporting use of VA Funds
ƒ New projects requiring Board approval
ƒ Discussion of the SURA “endowment” spending policy
DOE Re-Compete Financial Considerations Update
ƒ Containment and sharing of risks under new contract
ƒ Status of cost recovery outlook
ƒ LLC administrative and tax partner responsibilities
Financial Governance
ƒ Recent audits and management responses
ƒ Status of Sarbanes/Oxley implementation plan
ƒ Draft ethics & financial committee expert policies
ƒ Recommendation to add financial expert on Finance Committee
ƒ Membership status of Finance Committee
5:00 Meeting Adjourns – Board Shuttle to Circle Bistro for Reception
___________________________________________________________________________________________
For questions or more information, contact SURA CFO/Corporate Treasurer Peter Bjonerud or SURA
Executive Director/Corporate Secretary Elizabeth Lawson.