The Board of Governors oversees the corporate affairs of the institution, including finances, real property, risk management, and strategic direction. The Board is also responsible for appointing the President and Chancellor, and determines the compensation of staff, faculty, and members of the senior administration. The Board of Governors is composed of 36 members, with 18 members derived from the students, staff, and administration of Carleton. These include four students, two faculty members, two members of the University Senate, two alumni, two staff, as well as the President and Chancellor, who are ex-officio members of the Board. The remainder of the representatives are selected from the local community at large.