Accessibility statement

Finance Committee

Terms of Reference

Terms of Reference

To consider and recommend to the Council: 

  1. Financial implications of the University’s strategic plan 
  2. University finance strategy 
  3. Draft financial statements of the University 
  4. Annual budget and medium-term financial forecast 
  5. University borrowing strategy 
  6. Financial implications and risks relating to the University’s corporate risk register 
  7. Budget, financial implications and expenditure on the Capital programme 
  8. Financial assessments in respect of any projects with very significant budgetary or strategic implications, as determined by UEB and Council 
  9. Quarterly forecasts (to discuss) 
  10. The University’s Scheme of Delegation.

To consider

  1. Resource allocation mechanisms.

3. To monitor

  1. In-year financial performance against budget of the University (on a quarterly basis)

4. Updated forecast for the year (with reporting of significant variances) 

  1. Medium and long-term financial outlook 
  2. Financial performance against the capital programme 
  3. Draft financial statements for the University pension scheme and other pension arrangements 
  4. Financial performance of the Students’ Union and GSA.

5. To receive

  1. Financial risk register 
  2. Reports from Subsidiaries Management Group 
  3. Performance of financial investments including endowments and restricted funds 
  4. University financial regulations.

In addition, subsidiary companies will be reviewed by an executive group chaired by the Finance Director, and the use of the term University includes consideration of the finance of the entire University Group. 

Approved by Finance Committee on 1 October 2020 

Membership

Membership 2020/21

      To serve until
1 Mr Chris Thompson (Chair) Treasurer N/A
2 Professor Charlie Jeffery Vice-Chancellor and President N/A
3 Professor Saul Tendler Deputy Vice-Chancellor and Provost N/A
4 Ms Denise Jagger Chair of Council N/A
5 Ms Lindsey Fussell Deputy Treasurer N/A
6 Mr Philip Carpenter Lay member of Council  
7 Judith McNicol Lay member of Council  
8 Professor Una Macleod Dean of Hull York Medical School  
9 Professor Nicky Milner Head of Archaeology  
10 Professor Mark Freeman Dean of The York Management School  
11 Mr Patrick O’Donnell (until July 2021) President of the Students' Union July 2021
12 Ms Pürnur Altay (until July 2021)  President of the Graduate Students' Association July 2021
13 Dr Joss Ivory Chief Operating Officer N/A
14 Mr Jeremy Lindley The Director of Finance N/A
16 Ruth Clark Group Financial Controller (Secretary) N/A

Constituency of Members

Ref Constituency
1  The Treasurer (ex officio) (Chair)
2  The Vice-Chancellor (ex officio)
3  The Deputy Vice-Chancellor and Provost (ex officio)
4  The Chair of Council (ex officio)
5  The Deputy Treasurer (ex officio)
6-7  Two lay members of Council
8-10 Three heads of academic departments recommended by the Nominations Committee
11  President of the Students' Union (ex officio)
12  President of the Graduate Students' Association (ex officio)
In attendance
13  Acting Head of Professional Services
14  The Director of Finance
15  The Group Financial Contoller (Secretary)

Meetings

Meeting dates

The meeting dates for the 2020/21 academic year are as follows:

  • Thursday 1 October 2020 2.15 pm via Zoom
  • Friday 27 November 2020 9.30 am via Zoom
  • Wednesday 16 December 2020 8:30 am via Zoom (Joint with Audit and Risk Committee)
  • Monday 18 January 2021 1 pm via Zoom (Joint with Audit and Risk Committee)
  • Thursday 28 January 2021 2 pm via Zoom 
  • Wednesday 17 March 2021 2.15pm in the Yarburgh Room (H/G15)
  • Wednesday 21 July 2021 2pm via Zoom

Sub-committees

Associated Committees and Sub-Committees

 

Finance Committee reports to Council

 

Chair:

Chris Thompson

University Treasurer

 

Contact:

Ruth Clark

Group Financial Controller

ruth.clark@york.ac.uk

ext: 4417