(suspended until 2013)
On March 25, 2010, Senate approved the following motion:
Moved by Senator Stairs, seconded by Senator Medves, that Senate suspend the current Senate Budget Review Committee (SBRC) and add to Senate Procedures the requirement that annually or more frequently as required, the Principal ensure that there is a report to Senate about the development of the annual budget.
To examine the main elements of the approved annual budgets of the University, and to examine a report on those budgets prepared by the Vice-Principal (Finance and Administration);
To present to the Senate a review of the approved budget and to make recommendations to the Senate so as to enable it to advise the Principal on its consistency with the general needs and interests of the University, and on any consideration for future budgeting;
To advise the Senate on the financial implications of recommendations of Faculty Boards, Schools and Affiliated Colleges on new and substantially revised programs of study leading to a degree, diploma or certificate;
To advise the Senate on the financial and budgetary implications of the establishment of proposed Chairs, Centres, and Institutes and on their sustainability.
To report to the Senate on such other matters pertaining to the annual budget as may be referred to it by the Senate.