Governance
   
   
  

Finance Committee

Terms of Reference

  • Make recommendations to the Council on the University's annual revenue and capital budgets, within the strategies and plans approved by the Council, and monitor performance in relation to approved budgets
  • To approve revenue projects in excess of £500,000 and capital projects in excess of £1 million, such limits to be reviewed from time to time and adjustments to be approved by Council

Main Activities

  • Approve and recommend to the Council the University's annual revenue and capital budgets, and thereafter monitor performance against these budgets
  • Review and approve the University's systems and procedures for accounting and exercising financial control, taking account of the report of the Audit Committee
  • Advise the Vice-Chancellor as the University's Designated Officer on the financial status of the University
  • Approve and recommend to the Council long-term financial projections
  • Review and approve for submission to the Council the annual financial statements of the University
  • Formulate responses to Audit Committee reports that have been submitted to the Council for review and approval by the Council, and monitor implementation of approved actions
  • Review and approve the University's investment policy in the light of advice from the University's professional investment advisers, subject to the approval of the Council as required
  • Establish Estates and Buildings Project Groups as required and review, approve and monitor the implementation of the University's estate management policies and procedures
  • Establish expert and working groups as necessary to consider proposals in detail and receive their reports

Constitution

Treasurer (Chair): Mr Steve Walton

President of Council: Mr John Mills

Vice-Chancellor: Professor Sir David Greenaway

Two Pro-Vice-Chancellors: Professor John Atherton, Professor Andy Long

Up to five external members of Council*: Ms Carolyn Morgan, Mr Trevor Moss, Mr David Tilly

One Senate representative on Council: Professor Neil Crout

Students' Union Representative:

Secretary: Chief Financial Officer


NOTES:

The Committee may invite members of University Executive Board and other officers as necessary to attend as business requires

The Chair of Audit and Risk Committee (Mr Neil Watkinson) may also be in attendance at Finance Committee as an observer

Any member of Council who is not on Finance Committee may be in attendance as an observer for an individual meeting

 

membership updated August 2016

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