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The Wilfrid Laurier University Act gives the Board of Governors the power of management of the university. This includes control over all financial matters, such as property and revenues, and authority over its business and affairs, except with respect to matters assigned by the act to Senate.

The Board of Governors meets approximately five times each year between September and June. There are currently eight standing committees and one sub-committee that meet on a regular basis throughout the year to review and recommend action in the areas within the control of the Board of Governors.

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