To consider matters concerning the effective and efficient use of physical and human resources, financial performance and sustainability and to provide assurance and make recommendations as appropriate to Council.
Terms of Reference
1. To consider, review and advise Council on financial, estates, human resources, information technology and international plans, ensuring alignment with the University's overall strategy.
2. To consider and review University financial performance, including monitoring and scrutiny of:
- quarterly management accounts;
- financial key performance indicators;
- financial impact of student recruitment and registration;
- bank covenants.
3. To ensure compliance with all OfS financial requirements and obligations.
4. To consider and make recommendations to Council regarding:
- the Annual Finance Statement and related documents;
- three year budgets for the University including capital budget and associated cashflow;
- the adoption of Financial Regulations;
- the adoption of relevant policies, including Treasury Management and Investment;
- borrowing policy, including approval of new borrowings;
- capital expenditure plans in excess of £5 million:
- fees chargeable by the University.
5. For Estates & Facilities, International, IT and HR
- To consider and advise Council on the material aspects of the relevant strategic Plans;
- To monitor performance against the relevant KPIs;
- To review for recommendation to Council all proposals for any related capital expenditure in excess of £5 million.
6. To establish such sub-committees or time limited task groups as may be required to enable the Committee to effectively discharge its terms of reference.