Establishing or Changing Student Awards
Introduction
This policy provides a coordinated approach to establishing or changing student awards.
In this policy, the term “student awards” refers to the various categories of financial and non-monetary recognition that may be established for students, including but not limited to:
- Athletic Awards
- Awards
- Bursaries
- Entrance Awards
- Fellowships
- Housing Awards
- Prizes
- Scholarships
- Student Conference Travel Awards
Policy
Student awards may be funded by external parties or agencies (donors, sporting bodies, etc.) or by allocation of internal University resources.
When student awards funded by internal resources are established or changed, these must be consistent with the strategies approved by the relevant Council Committees:
- Undergraduate Awards: Council Committee on Undergraduate Awards
- Graduate Awards: Council Committee on the Faculty of Graduate Studies and Research
Student awards funded by external parties or agencies must satisfy the conditions laid out in the University of Regina’s Policy GOV-030-005 Donation and Gift Acceptance.
Athletic Awards will be governed by applicable U SPORTS policies.
Consequences for Noncompliance
If a proposed student award, or a proposed change to an existing student award, does not meet the conditions in this policy, it will not be approved by the individuals designated by this policy as described below. An employee who processes a student award without proper approval may be subject to disciplinary action.
Processes
Proposing New Student Awards or Changes to Student Awards
Proposals for new student awards or changes to existing student awards may originate in a variety of units and are typically reviewed initially by:
- Associate Director, Enrolment Services, for undergraduate student awards; or
- Manager, Graduate Scholarships and Awards, for graduate student awards; or
- Director, Sport, Community Engagement and Athlete Development, for athletic awards; or
- Executive Director, University Advancement, for awards funded by external donors.
Following review, proposals are submitted for approval to:
- Director of Enrolment Services, for undergraduate student awards; or
- Dean of the Faculty of Graduate Studies and Research, for graduate student awards.
Processing Student Awards
The University establishes an account to which contributions and donations may be deposited in either a:
- Trust Fund, to commence earning investment income; or
- Operating Fund, for student awards that will be annually funded by a donor.
In accordance with GOV-090-040 Investments
The request to establish the account must be made by one of the following:
- President;
- Vice-President, Administration;
- Associate Vice-President, Finance; or
- Executive Director, University Advancement, if the monies are donated.
Endowed Student Awards
- In the case of an endowed student award, four percent of the average market value of the endowment over the previous three years is used to fund the student award. The remainder of earnings is used to prevent the erosion of the endowment by inflation. The value of particular student awards is permitted to vary somewhat from the four percent calculation, so that the actual amount does not have to be varied every year. The percentage of the average market value used to fund the student awards is to be reconsidered from time to time, to ascertain its appropriateness in light of rates of inflation. The Trust and Endowment Committee (Awards) of the Board of Governors oversees increasing or decreasing the value of endowed student awards on an annual basis.
- The income available for endowed student awards is net of any fees incurred in managing the underlying investments.