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 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
To monitor the University’s delivery against targets of financial savings within the financial plan
To consider material financial risks and monitor the financial sustainability of the University
To review the overview staffing plans in support of the financial plans
To review the impact of external environment on the financial strategy and to consider relevant sector benchmark data.
To monitor banking and funding council covenants
To review and recommend revenue budgets and five-year forecasts
To approve the accounting policies relating to the financial statements and the 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 review and approve the University’s TRAC returns
To receive and advise on an annual report on fundraising activity
To meet at least four times a year and to report to Council after each meeting