Board Meeting Synopsis for June 22, 2022
The fourth and final regular meeting of the Board of Governors for the 2021-22 year was held June 22, 2022, in-person in the University Centre and was chaired by Board Chair Shauneen Bruder.
The meeting began with a welcome to Governors offered by the Board Chair, a special welcome was offered to incoming Governors whose terms begin in fall 2022, attending the June meeting as guests in advance of their terms.
The Board of Governors also welcomed Chancellor Mary Anne Chambers, who was formally installed as the University’s tenth Chancellor at an installation ceremony the week prior.
President Charlotte Yates offered oral remarks, including a brief summary of the year, and highlighting recent in-person convocation ceremonies, which were held for the first time since 2019.
The Board held a strategic discussion. As a follow-up to the budget discussion and approval at the April Board meeting, Governors received a presentation on budget scenario planning from Provost and Vice-President (Academic) Gwen Chapman. The Board reviewed a range of budget scenarios and the related impact on the University’s financial resources and capacity, and engaged in discussion with the leadership team.
The Board received updates from each of the Board’s standing committee chairs on their work over the preceding months, and over the course of the year.
The Board received the Annual Report on Responsible Investing of the endowment portfolio. The report captures the University’s success in meeting the carbon reduction goal for the endowment portfolio and affirms that the University is on track to meet its fossil fuel divestment commitment.
The Board approved the University’s Anti-Racism Policy Statement. The policy statement was prepared by a subcommittee of the President’s Advisory Committee on Anti-Racism, and was share with Senate, prior to coming to the Board for approval.
The Board also approved amendments to the University Appointments Policy, which sets out the processes used for the hiring of the University President, the Vice-Presidents, and the University Secretary.
Additional items were provided for information, including an update on a project to enhance equity, diversity, and inclusion on the Board, an update on the work of the Steering Committee on Addressing and Preventing Sexual Violence, audited statements for surplus pension funds, as well as reports on the Policy on Policies, the implementation of recommendations from the Working Group on Board Governance REview, and a credit rating report. The Board additionally approved updates to its governing documents following the successful transition to the University Pension Plan, Ontario, and an update to the University’s Signing Authority Register.
The complete open session meeting package is available on the University Secretariat’s Governance Portal. The official record of the meeting is the meeting minutes, which will be available following their approval at the next regularly scheduled Board Meeting, to be held on October 19, 2022.