Board of Governors Motions for January 26, 2016

The following motions were approved by the Board of Governors at the January 26, 2016 meeting:


Motions Approved in Open Session:


THAT the Finance, Administration, and Human Resources Committee recommend that the Board of Governors approve that beginning in the 2016/2017 academic year the fees collected by UMSU be defined as follows:

FEE

FALL

WINTER

Union Operation

$27.35

$27.35

Scholarships & Bursaries

$10.50

$10.50

Endowment and Capital Development

$45.00

$45.00

CFS Inc. & CFS Services Inc.

$4.38

$4.38

CFS-Manitoba Inc.

$2.92

$2.92

UMFM

$2.50

$2.50

The Manitoban

$6.00

$6.00

UMREG

$1.25

$1.25

World University Service of Canada

$1.25

$1.25

World Wise

$0.25

$0.25

Engineers Without Borders – U of M Chapter

$0.13

$0.12

Faculty Associations

n/a*

n/a*

Service Groups

$2.20

$2.20

Transit Pass

$130.00

$130.00

Health Insurance Plan

$148.00

$98.67

Dental Insurance Plan

$144.00

$96.00

UMSU Re-Allocation Fee

$0.75

n/a

*as determined by the faculty associations

 

That by August 1st of each year, the fees collected by UMSU calculated for the previous calendar year as follows:

FEE

       INDEXATION

Union Operations

Manitoba CPI

Scholarships & Bursaries

Manitoba CPI

Endowment and Capital Development

Manitoba CPI

CFS Inc. & CFS-Services Inc.

Canada CPI

CFS-Manitoba Inc.

Canada CPI

UMFM

Manitoba CPI

The Manitoban

Manitoba CPI

UMREG

Manitoba CPI

World University Service of Canada

Manitoba CPI

World Wise

Manitoba CPI

Engineers Without Borders – UofM Chapter

Manitoba CPI

Faculty Association

Manitoba CPI

Service Groups

Manitoba CPI

Transit Pass

None

Health Insurance Plan

None

Dental Insurance Plan

None

  UMSU Re-Allocation Fee

Manitoba CPI

 

That the Board of Governors approve a new UIT Spending Policy for the 2016-2017 Fiscal year as follows:

The University Investment Trust (UIT) will make available for spending an amount of 4.25% of the average of the four (4) preceding year’s market value, calculated on the basis of a rolling 48-month period. In addition, the Trust Investment Committee can recommend a change to the amount in any one year, with a floor set at 3.50% of the preceding 4-year period, and a ceiling of 5.00% of the preceding 4-year period. This change would only arise in circumstances where the net real rate of return of the fund had deteriorated or improved to the extent an adjustment to the rate of spending is warranted. This would depend on the net real return of the UIT over the past 5, 10 and 15 year periods; current investment market conditions; the outlook of future investment markets; and assessing the effect of such an adjustment on current and future beneficiaries of the fund.  Any one-year adjustment to the spending rate would have to be recommended by the Trust Investment Committee and approved by the Board of Governors.

This approval is for the 2016-2017 year only, with the understanding that further discussions about the UIT, the spending policy, and related issues will be considered by the Trust and Investment Committee and the Finance, Administration and Human Resources Committee prior to a recommendation for a Spending Policy for 2017-2018 is brought forward for approval to the Board of Governors.

THAT the Board of Governors approve six new offers, five amended offers, and the withdrawal of five offers, as set out in Appendix A of the Report of the Senate Committee on Awards – Part A [dated November 10, 2015].

THAT the Board of Governors approve one new offer and one amended offer, as set out in Appendix A of the Report of the Senate Committee on Awards – Part B [dated November 10, 2015].


The Board received the following for information:

The President’s Report

Proposal for a Bachelor of Midwifery

Report of the Senate Committee on Awards – Part A [dated October 19, 2015]

Report of the Senate Committee on Awards – Part B [dated October 19, 2015]

Budget and Planning Book