Specific Responsibilities of the SmartState Board

1. Prepare an annual report for the South Carolina Commission on Higher Education (CHE) that includes a yearly schedule for receiving grant proposals and awarding grants.
2. Oversee and manage the operation of the Centers of Economic Excellence Endowment.
3. Provide a privately audited annual report to the South Carolina Budget and Control Board.
4. Determine that each funding application received meets all requirements.
5. Appoint a panel of experts from outside South Carolina to evaluate applications submitted for funding.
6. Ensure that the panel of experts delivers its report on the quality of applications within 90 days after the panel receives the applications.
7. Determine whether to award matching funds to an applicant, and if matching funds are awarded, determine the amount.
8. Submit all appropriate expense forms to CHE for approval and payment.

Implied Responsibilities of the Board

1. Prepare a budget for Board operations—including appropriate per diem, subsistence, and mileage expenses—and for the cost and expenses of the panels of experts.
2. Adopt a procedure and schedule for the filing and processing of applications, including the information to be required on the application.
3. Establish a working relationship with CHE for the use of staff and support.
4. Engage a private CPA to prepare and certify the SmartState Review Board’s annual report to the South Carolina Budget and Control Board.
5. Establish a meeting schedule as well as a procedure for calling meetings and determining their location.
6. Establish officers and provide for their responsibilities and duties.

The SmartState Review Board also oversees the Research University Infrastructure Act projects.