Finance Committee
Terms of Reference
- To oversee the development and implementation of the University's financial strategy:
- To monitor KPI’s together with the quarterly financial performance of all underlying activities (research, teaching, enterprise and advancement) and budgetary units against budget and five year rolling forecast
- To manage cash and investments and to review regularly the Treasury Management Policy
- To review borrowing requirements and recommend borrowing policies and financing arrangements to Council
- To review the University’s annual capital plan, setting a framework for decisions on major projects by Operations Committee
- To monitor the University’s delivery against targets of financial savings within the financial plan
- To review the overview staffing plans in support of the financial plans
- To review and recommend revenue budgets and five year forecasts
- To approve financial policies and financial regulations
- To advise Council on the appointment of bankers, insurance brokers and other financial specialists and to review their performance periodically
- To monitor the University’s financial safeguarding of assets and if necessary make comments to Council
- To review the performance of University subsidiary companies
- To scrutinise and recommend the annual financial statements of the University to Council
- To meet at least four times a year and to report to Council after each meeting