Finance Committee

The Finance Committee has responsibility for the provision to Council of expert advice on both the University's financial performance in the current year and also the financial implications of any future plans.

Finance Committee Meeting Schedule 2017 (pdf)

Finance Committee Terms of Reference

Reporting relationships

Finance Committee is to provide expert advice to the Council both on the University's financial performance in the current year and also the financial implications of any future plans.

1. Review and monitor the University's performance against financial benchmarks established by Council.

2. Review and advise Council on the University's budget and annual financial statements.

3. Review regular financial reports and, where appropriate, provide advice to Council on the implications of these.

4. Consider and make appropriate recommendations to Council on any matters having a significant financial impact on the University.

5. Advise Council on the short, medium and long term financial implications of the University's Plans.

6. Advise Council in relation to:

(i) the extent and adequacy of the University's insurance coverage (at least annually) 
(ii) the Treasury Management Policy of the University
(iii) the University's borrowing program (on a regular basis)
(iv) any contracts in excess of $5m requiring Council approval.

7. Advise Council in relation to the capital program and monitor the progress of major capital projects.

8. Receive the annual reports and financial statements of the University’s controlled and associated entities.

9. Approve and monitor an investment policy for Foundation funds and monitor investment performance against benchmarks.

10. Exercise authority delegated to it by Council.

11. Consider any matters referred to it by Council or the Vice Chancellor.

Membership

  • 4 community members of Council with financial expertise
  • 1 external member of the community with financial expertise
  • Vice Chancellor (ex officio)
  • Chief Operating Officer (ex officio)

Observers

  • Finance Committee, through its Chair, may request the presence of other officers of the University from time to time.
  • The Chancellor, while not a member of the Committee, has the right to attend all Finance Committee meetings as an observer.
  • The Chief Financial Officer and the Director: Assurance Services are invited to attend all meetings of Finance Committee.

 
Established 2000; revised 15 December 2016