According to the Code (Section 13-23), the Faculty Senate serves as the legislative body of the University Faculty, with whom the President of the University shares the responsibility of formulating regulations and procedures for the immediate government of the University on such
matters as:

• educational policy and general welfare;
• policy for the regulation of student conduct and activities;
• scholastic policy, including requirements for admission, graduation,
  and honors;
• approval of candidates for degrees;
• criteria for faculty tenure, appointment, and promotion;
• recommendations concerning campus and University budgets.