The Board of Trustees of the University of Liberia maintains authority over the scope, mission, along with the President & Chief Executive Officer. The BOT establishes the strategic direction and fiscal oversight of the university. The President & Chief Executive Officer, along with administrative staff, executes the strategic direction. The authority for the governance and control of the University is hereby vested in the Board of Trustees. The Board of Trustees exercises the following powers and performs the following duties in relations to the University and in furtherance of its objectives:

To make and use a common seal and alter the same at its pleasure;
To take by gift, grant, devise, purchase, or otherwise real property and to hold same in fee simple or to deal with same in any manner provided for; to take by gift bequest, lease, purchase, or otherwise any estate of interest in real property or any other personal property, including intangibles, and to deal with same in any manner as provided for; and to use such property, real or personal, directly for University purpose, or to sell, let invest and re-invest, or in any other lawful manner exploit such property for the benefit of the University, the income therefrom to be applied to the endowment and support of the University in such manner as shall most effectually promote the interest of the Republic, the growth of the University, and the improvement of its faculty and student body;

To enter into and execute contracts and agreements. To mortgage real and personal property, and in pursuance thereof all deeds, bills of sale, or other instruments in writing sealed with the common seal of the Board of Trustees of the University, and signed by its order shall be considered in Law as the act of said Board of Trustees, when made in its corporate name;
To sue and be sued, to plead and be implemented in all actions and to prosecute the same as necessary to final judgment and executive in the name of the Board of Trustees of the University of Liberia;
To prepare the annual budget of the University to submit same to the Legislature, through the Visitor of the University;
To establish effective liaison with the Ministry of Education for the purpose of coordinating policies and making reciprocal recommendations;

To select its officers and members and to establish its Standing and Special Committees;
To act upon the nomination of the President of the University when made by the Visitor of the University of Liberia; and to approve the appointment of the Deans and Directors of the various schools and other members of the faculty and staff upon nomination by the President of the University;
To fix the time and place for its meetings;
To make such by-laws, rules and regulations as may be necessary for itself and for the efficient government of the University; and to confer the usual collegiate honors and degree upon recommendation of the faculty senate through the President of the University, and to confer honorary degrees upon recommendation of the President of the University.
The Board of Trustees consists of Seventeen members. The President of the University serves as one of the Trustees. The following constitutes the representation on the Board: 1 member representing the Senate of the Republic of Liberia; 1 member representing the House of Representatives of the Republic of Liberia; 1 member representing the Alumni Association; 2 members representing the Business Community; 8 members nominated by the Visitor of the University, the Minister of Education as Member Ex-Officio, and the Visitor as Chairman Ex-Officio.