The relationship between the Toronto School of Theology (TST) and the University of Toronto is defined by a Memorandum of Agreement (MOA), which is revised periodically. This document establishes certain mutual obligations, primarily in matters of academic policy, academic services, and financial arrangements. Most importantly, it establishes our regime of conjoint degrees, by which most degrees offered by TST member colleges are awarded conjointly by the University of Toronto.
The MOA which was agreed in 2004 expired on June 30, 2014. The University of Toronto, TST, and the seven TST member colleges have now all agreed to a new MOA which takes effect as of July 1, 2014. The full text is available here.