Loughborough University
Leicestershire, UK
LE11 3TU
+44 (0)1509 222222
Loughborough University

University Committees

Finance Committee

Terms of Reference 2016/17

 

A) To oversee the development and implementation of the University's financial strategy:

  1. 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

  2. To manage cash and investments and to review regularly the Treasury Management Policy

  3. To review borrowing requirements and recommend borrowing policies and financing arrangements to Council

  4. To review annually the University’s  capital plan, setting a framework, which takes into account the affordability of the estate, for decisions on major projects by Operations Committee

  5. To monitor the University’s delivery against targets of financial savings within the financial plan

  6. To consider material financial risks and monitor the financial sustainability of the University

  7. To review the overview staffing plans in support of the financial plans

  8. To review the impact of external environment on the financial strategy and to consider relevant sector benchmark data.

  9. To monitor banking and funding council covenants

  10. To review and recommend revenue budgets and five year forecasts 

B) To approve the accounting policies relating to the financial statements and the financial          regulations

C) To advise Council on the appointment of bankers, insurance brokers and other financial          specialists and to review their performance periodically

D) To monitor the University’s financial safeguarding of assets and if necessary make                comments to Council

E) To review the performance of University subsidiary companies

F) To scrutinise and recommend the annual financial statements of the University to Council

G) To meet at least four times a year and to report to Council after each meeting

 

 

Committee Secretary

Miranda Routledge

Planning Office
Hazlerigg Building

University Governance

The University's statutory documents, regulations and governance processes.

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