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University of Regina president Vianne Timmons unveiled a new 'guarantee' program for students on Wednesday. ((CBC))

The University of Regina council decided it will not hold a vote on whether it has confidence in the school's president Friday. 

Council members held a special meeting to discuss how they think Vianne Timmons has been running the school. 

They voted, and ultimately decided not to proceed with a non-confidence vote against Timmons. 

But that doesn't mean there was strong support for Timmons - 135 people voted against a non-confidence motion, while 134 wanted one. 

Timmons said this was a sad day for her, and she's promising to be more transparent in the future. 

"What we'll do is we'll lay out a plan based on all of the concerns we've heard today and present that plan publicly within a month," said Timmons. 

This year the university has been dealing with a series of controversies over mismanaged funds involving millions of dollars.

The latest controversy came this week when the CBC's iTeam helped reveal the university had paid $380,000 in bogus overtime to a couple of employees.