The Board of Governors consists of eleven members:  the Chancellor; the President of the University; five members appointed by the Lieutenant Governor in Council; two members elected by the Senate; one student who shall be the President of the Students' Union; and one member of the faculty, who is elected by members of Council.

The Board is responsible for overseeing the administrative and business affairs of the University.  Within the University, it has ultimate authority in all matters related to the raising and spending of University funds, and the acquisition and management of University property.  The Board has endorsed a strategy of decentralization that encourages fluidity and adaptability within the University structure, and permits adaptation to current and changing needs.  It appoints the President of the University.  It also appoints all other members of the staff of the University, subject only to the proviso that no one may be appointed to the teaching staff who has not been recommended to the Board by the President.