The Committee will review University budgets and make appropriate recommendations. Each year the President shall nominate five faculty members, and the Faculty Council shall nominate five faculty members, and each shall select two new members from the other's nominations to serve three-year terms. In addition, every year the Chair of the Faculty Council shall appoint two General Faculty members of the Faculty Council, one of whom shall be elected by the voting members of the Faculty Council, for one-year terms as members of the committee. Every third year the President shall also select a new chair of the committee, who shall be a member of the General Faculty, from the Faculty Council's nominations, and the committee shall elect its vice chair, who shall be a member of the General Faculty. The Provost shall serve as an administrative advisor to the committee without vote.
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