The University of Alberta say it's not getting rid of its existing Latin motto, which when translated means, "Whatsoever Things Are True", but admits that phrase will likely be absent from any potential new logo it's currently working on.

A survey has been sent out to university alumni asking them to grade a proposed new logo and what's being called a 'promise statement' for the institution. The survey asks respondents to rate the appeal of a new logo and a new quotation to represent the university.

The moves comes at a time when the institution is seeping in red ink, recently laying off staff and increasing student fees.

University administrators say it's time to simplify the logo because the current crest and motto doesn't reproduce well online.

Debra Pozega, interim VP of external relations says about $12,000 is being spent on the survey. And when it comes time to incorporate the newly designed logo, officials don't believe it will come at a high price.

"I don't run out and order a new sign for my door. But the next time I need a new sign for my door, it is based on the new mark or the new logo. The next time you need to order stationary in your office, you use the new mark or logo as opposed to the previous one," said Pozega.

The university is also looking at incorporating a quotation from the university's first president, Henry Marshall Tory, into more university presentations and publications.

Officials deny a proposed new promise statement, which reads "uplifting the whole people" will replace the institution's current Latin motto.

The university says changing the logo has been a three-year process, which began during the institution's centennial year in 2008.

Changes would need to be approved by the board of governors. An official date for the makeover has not been set, but CTV News was told it's unlikely any re-branding would happen in time for Sept.

With files from Laura Tupper