Finance Committee

Terms of Reference

Terms of Reference

To consider and recommend to the Council :

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

 

To consider:

  • Resource allocation mechanisms

 

To monitor:

  • In-year financial performance against budget of the University (on a quarterly basis)
  • Updated forecast for the year (with reporting of significant variances)
  • Medium and long-term financial outlook
  • Financial performance against the capital programme
  • Draft financial statements for the University pension scheme and other pension arrangements
  • Financial performance of the Student's Union and GSA 

 

To receive:

  • Financial risk register
  • Reports from Subsidiaries Management Group
  • Performance of financial investments including endowments and restricted funds
  • University financial regulations

 

NOTES

Subsidiary companies will be reviewed by an executive group chaired by Finance Director.

The use of the term University includes consideration of the finance of the entire University Group

 

Approved by Council 7 Macrh 2018

Membership

Membership 2017/18

      To serve until
1 Mr David Dickson (Chair) Treasurer N/A
2 Professor Koen Lamberts The Vice-Chancellor & President N/A
3 Professor Saul Tendler Deputy Vice-Chancellor & Provost N/A
4 Mr Gerard Lemos Chair of Council N/A
5   Deputy Treasurer N/A
6 Ms Denise Jagger Lay member of Council July 2018
7 Mr Philip Carpenter Lay member of Council July 2019
8 Professor Dunstan Brown Head of Language and Linguistic Science July 2019
9 Professor Quentin Summerfield Head of Department of Psychology July 2018
10 Professor Jo Swaffield Head of Economiocs and Related Studies July 2019
11 Mr Alex Urquhart (until July 2018) President of the Students' Union July 2018
12 Ms Charlotte Chamberlain (until July 2018)  President of the Graduate Students' Association July 2018
13 Jo Horsburgh The Registrar and Secretary N/A
14 Mr Jeremy Lindley The Director of Finance N/A
15 Mr Rod Peet Deputy Director of Finance N/A
16 Mr Alistair Knock Acting Director of Corporate Planning 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  The Registrar and Secretary
14  The Director of Finance
15  Other Finance officers as appropriate
16  The Director of Corporate Planning (Secretary)

 

 

Meetings

Meeting dates

The meeting dates for the 2017/18 academic year are as follows:
  • Friday 29 September 2017, 9.15 am in the Yarburgh Room (H/G15)
  • Friday 20 October 2017, 9.15 am in the Eynns Room (H/G21) (Joint with Audit Committee), then 11.00 am approx. Finance & Policy Committee in the Yarburgh Room (H/G15)
  • Friday 8 December 2017, 9.15 am in the Yarburgh Room (H/G15)
  • Friday 16 February 2018, 2.15 pm in the Yarburgh Room (H/G15)
  • Friday 16 March 2018, 9.15 am in the Yarburgh Room (H/G15)
  • Friday 8 June 2018, 2.15 pm in the Yarburgh Room (H/G15)
  • Friday 29 June 2018, 2.15 pm in the Yarburgh Room (H/G15)

 

The meeting dates for the 2018/19 academic year are as follows:

  • Friday 28 September 2018, 2.15 pm in the Yarburgh Room (H/G15)
  • Friday 19 October 2018, 9.15 am in the Eynns Room (H/G21) (Joint with Audit and Risk Committee), then 11.00 am approx, Finance Committee (H/G15)
  • Friday 7 December 2018, 2.15 pm in the Yarburgh Room (H/G15)
  • Friday 15 February 2019, 2.15 pm in the Yarburgh Room (H/G15)
  • Friday 15 March 2019, 2.15 pm in the Yarburgh Room (H/G15)
  • Tuesday 26 March 2019, 6.00 - 9.00 pm (Joint Audit and Risk / Finance Committees briefing event), venue tbc
  • Friday 7 June 2019, 2.15 pm in the Yarburgh Room (H/G15)
  • Friday 28 June 2019, 2.15 pm in the Yarburgh Room (H/G15)
 

Sub-cttees

Associated Committees and Sub-Committees

 

Finance Committee reports to Council

 

Chair:

David Dickson

University Treasurer

 

Contact:

Stuart Jolley

Operations Manager

stuart.jolley@york.ac.uk

ext: 4050