Identity area
Type of entity
Authorized form of name
Parallel form(s) of name
Standardized form(s) of name according to other rules
Other form(s) of name
Identifiers for corporate bodies
Description area
Dates of existence
History
The Business and Finance Committee was primarily responsible for developing the broad plans for budgetary policy. The Committee was also responsible for the formulation of other policies including: the development of operating and capital budgets and ongoing business and financial operations such as the administration of approved budgets, the need for and nature of centralized and decentralized services and the provision of budgetary contingency funds. The Committee's predecessor was the Academic Planning Committee (1966-1969) whose responsibilities were split in 1969 into three separate Committees: Business & Finance, Capital Resources Policy and the Academic Policy Committee.
The first meeting of the Business and Finance Committee was held in October, 1969. The name of the Committee was shortened in September, 1972 to Finance Policy Committee. Membership on the Committee included 2 lay members of the Board of Governors, 6 members of the General Faculties Council, 2 students, the Vice-President of Business and Finance who was the Committee's Executive Officer, the President, Chairman of the Board and Academic Secretary. The Committee was not a General Faculties Council or Board of Governors committee, but reported to the GFC in order to make recommendations, and to the BOG for information. Correlating financial policy with academic policy and physical resources was the responsibility of the Executive Officer who worked with the Executive Officers of the other two policy committees (Academic and Capital Resources) through the President's Executive Advisory Committee.
The Hickling-Johnson report of 1972 changed the structure of the three policy committees by redistributing some of the responsibilities among the Vice-Presidents. The final membership of these policy committees was modified so that the Executive Officers (Vice-Presidents) and Chairs now sat on all three policy committees. The final meeting of the Finance Policy Committee took place in June, 1974. In April, 1975 the Policy and Planning Committee was formed which effectively combined the three policy committees into one entity again.