Ka Wai Ola - Office of Hawaiian Affairs, Volume 22, Number 7, 1 Iulai 2005 — Report on the activities of OHA's Asset and Resource Management Committee [ARTICLE+ILLUSTRATION]

Report on the activities of OHA's Asset and Resource Management Committee

Aloha mai kākou. In November 2004, I was selected by my fellow trustees to chair the Committee on Asset and Resource Management (ARM) with Trustee Oswald Stender as the vice chairperson. The Office of Hawaiian Affairs' bylaws set forth the purview of the Committee on Asset and Resource Management as follows: "The committee shall (a) handle all fiscal and budgetary matters and ensure proper management, investment and usage of OHA's trust funds; (b) policy, planning and evaluation; (c) establish policies whieh strengthen OHA's fiscal controls and financial management; (d) overseeing the use of OHA's real estate and to execute policy for the proper use of such lands; oversee the use or condition of any real estate including land to whieh OHA shall have an interest; execute policy on issues of land use, native rights and natural and cultural resources, including the inventory, identification, analysis and treatment of land, native rights and natural and cultural resources; (e) review and approve when appropriate grants to

programs that support OHA's overall mission; (f) evaluate all OHA programs in order to decide whether to continue, modify, or terminate funding of any of OHA's programs; (g) develop training and orientation programs for trustees and staff that includes materials relating to trustees, the role of a fiduciary and ethics; (h) in consultation with the chair of the Committee on Beneficiary Advocacy and Empowerment carry out the selection and evaluation of the Administrator." The task of chairing this very important committee has been quite exciting to say the least. One of our first assignments was OHA's biennium budget for fiscal years 2006 and 2007. We successfully eompleted that task through informative workshops presented by the administrative staff. To date, we have had several presentations from our investment managers Frank Russell and Goldman Sachs reporting quarterly status of OHA's portfolio. Both firms have also provided educational workshops to the trustees on the topic of investment terminology.

In keeping with an education focus, the ARM Committee began including OHA variance reporting presentations by our Treasury and Other Services (TOS) staff to keep the trustees informed on spending matters. The ARM agenda now includes monthly reporting from OHA's chief financial officer and human resources manager. The ARM Committee has discussed a number of issues within its purview such as OHA's trustee allowanee, land donation, Native Hawaiian Legal Corporation, eonstruction replacement program, OHA's grants policy, Hāna Village Marketplace and the 2005 state audit of OHA. The list of issues to eome before the ARM Committee is growing. Looking forward, we anticipate discussions and workshops on the following: Revision of OHA's strategic plan, expenditure plans for fiscal year 2006, policy and operating manuals for OHA, and the revision of OHA's grants policy. Currently, new and expanding proposals and projects have the option of being heard by OHA's

programmatic arm, the Committee on Beneficiary Advocacy and Empowerment. If funding is required then the ARM Committee would be the next step prior to seeking full board approval. In certain situations, both standing committees have met in a joint committee meeting to deal with both program and funding issues at the same time. OHA's bylaws do not specifically detail the subject of joint committee meetings, but based on eaeh committee's purview, the joint committee approval process could be utilized to expedite and recommend final board approvals. If you are interested in attending either an ARM workshop or committee meeting, please eall my office at 594-1879 to get your name and address included in OHA's agenda mailing list. As always, my staff and I invite your comments on the above or any other concerns within our purview. My OHA access numbers are: phone 594-1854, fax 594-0210 and e-mail address dantec@oha.org. A hui hou, mālama pono. ī-j

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Dante Keala Carpenter Trustee, O'ahu