The Audit Committee’s primary objectives shall include:

• Adopt and implement an Audit Charter for the BTI;
• Provide oversight of the integrity of the financial statements;
• Review the annual operating budget;
• Ensure compliance with legal and regulatory requirements;
• Oversee the performance of the internal audit function; and
• Assess the performance of the external auditors, provide recommendations to the Board to engage or dismiss them, and monitor their qualifications and independence.

Audit Committee

Chairman:
John B. McCuskey

Members:
Michael L. Glasser
Glenda Probst

The Investment Committee’s primary objectives include:

• Evaluation, selection, and termination of the Investment Managers and Investment Consultant;
• Regular review and revisions to the Investment Policy;
• Investigate any reported investment problems or non-compliance;
• Evaluation of investment results to ensure compliance with the Investment Policy and to determine success of investment activities; and
• Other investment related issues as necessary for the prudent and cost effective investment of the Consolidated Fund.

Investment Committee

The Personnel and Governance Committee’s primary objectives include:

• Recommending staffing levels for the BTI;
• Assuring the professional qualifications, of the Board and Staff, are maintained by providing educational programs;
• Keeping the Board informed of current best practices in corporate governance;
• Developing, reviewing and updating governance practices of the Board;
• Assisting the Board in evaluating governance principles and practices;
• Overseeing management transition and succession planning; and
• Overseeing Board strategic planning.

Personnel and Governance Committee