Finance and Resources Committees - Terms of Reference and Membership

Purpose

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 advice Council on financial, estates, human resources and information technology strategy, 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;
  • income generation and business opportunities;
  • efficiency and cost reduction related activity;
  • bank covenants;
  • international activities and development

3.     To ensure compliance with all HEFCE financial requirements and obligations. 

4.     To consider and make recommendations to Council regarding:  

  • the Annual Finance Statement and related documents (prior to submission to Audit and Risk Committee);
  • HEFCE financial returns and forecasts (including TRAC);
  • three year budgets for the University Group 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.     In relation to Human Resources (HR) matters, to:  

  • consider, advise and make appropriate recommendations to Council on all aspects of HR strategy, including policy and procedures;
  • monitor the University's annual staff profiles and trends, including employee perception data;
  • monitor progress against HR plans in relation to recruitment, leadership and professional development, performance management and employment policies and procedures;
  • consider the impact of and proposals for implementation of national collective bargaining on the University's objectives. 

6.     In relation to Estates matters, to:

  • consider, advise and make appropriate recommendations to Council on all aspects of the Estates strategy, including policy and procedures;
  • monitor the University's capital expenditure programme to ensure it is on time, on budget and on specification;
  • review capital proposals for recommendation to Council;
  • ensure all capital acquisitions and disposals accord with the overall strategy;
  • ensure the effective use of the estate, particualrly in relation to utilisation and efficiency. 

7.     In relation to Information Technology (IT), to: 

  • consider, advise and make appropriate recommendations to Council on all aspects of the Estates strategy, including policy and procedures;
  • monitor progress on the implementation of the IT strategy;
  • ensure that the IT strategy reflects current thinking and practice;
  • ensure that the IT strategy meets academic needs and developments;
  • ensure the IT strategy complements the Estates strategy. 

8.     To satisfy itself that suitable arrangements are in place for the management of health and safety, including consideration of relevant reports prepared by management and recommendation of adoption of such reports by Council. 

9.     To ensure compliance with the University's legal and compliance obligations in relation to equality and diversity.

10.  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. 

Membership

Ex-officio (3)
Chair of Council
Deputy Chair of Council
Vice-Chancellor

Appointed (4)
Four independent members of Council

Co-options (2)
Up to two co-opted members

Total 9

Officers in Attendance
Registrar
Director of Finance
Senior Assistant Secretary, Legal and Governance (Secretary)
Others to be determined by the Committee