Business Projects

1. The manager of each business project, in consultation with the manager-designate for the following year, shall draft a detailed budget for that project for the following year. This budget shall be submitted to the Financial Manager by a date specified in the timetable for the preparation of the Association Operating Budget.

2. The Financial Manager, in consultation with the Associate Financial Manager, shall review and may modify the proposed budget for each business project, and shall then present each budget to the Senate Budget and Finance Committee for approval.

3. The proposed budget for each business project, as presented by the Financial Manager, shall be approved by the Senate Budget and Finance Committee prior to the Committee's consideration of the Association Operating Budget.

4. The Financial Manager may modify the budget of a business project. All such modifications shall be reported to the Senate Budget and Finance Committee at its next meeting. The Senate retains the ultimate authority to approve or disapprove such modifications.

5. The Financial Manager shall maintain on file an accurate copy of the budget of each business project as initially approved by the Senate Budget and Finance Committee, and as subsequently modified by the Financial Manager. Copies of these budgets shall be made available to any member of the Senate upon his/her request. Senators shall not make the information contained in these budgets public without the consent of either the Financial Manager or the Senate.

6. The Financial Manager shall consult with the Council of Presidents and the Chair of the Senate Budget and Finance Committee prior to approving any major changes in the finances or operations of any business project.