Subsidiaries Management Group

The Subsidiaries Management Group (‘Sub MG’) is a sub-group of The University Executive Board ('The Board'), created at the request of Finance and Policy Committee. It comprises members of the senior professional support and operations teams and one lay member.

Its role is to oversee the operational performance, stewardship and governance of the University’s subsidiaries, joint ventures and associates (‘the subsidiaries’).

The Group aims to:

• Improve decision-making within the subsidiaries;

• Align subsidiary activities with the direction of the University;

• Ensure consistent controls and processes in subsidiaries with those of the University;

• Make recommendations regarding the strategic direction and fit of subsidiaries to University goals.

Subsidiaries Management Group meets four times a year. The minutes from its meetings are submitted to the University Executive Board and exceptional matters related to risks and opportunities are reported to Finance & Policy Committee for information, comment, guidance and approval.

Classification of companies covered by the Subsidiaries Management Group

For ease of reference companies will be grouped under five broad classifications:

1. Third party traders: Subsidiaries whose business is principally focused on trading externally

2. Intra-group traders: Trading subsidiaries that deliver services mainly to the University itself

3. Others

4. Joint Ventures

5. Associates

6. Spin-Outs: Companies developed out of intellectual property by the University of York's academic staff and in which the University retains a share-holding

Terms of Reference
Membership
Meeting Dates

Terms of Reference

To appraise the Vice-Chancellor and President of all material developments relating to the operational performance and governance of the University’s subsidiaries, joint ventures and spin-outs and to act as a conduit for effective decision-making.
To monitor and scrutinise the subsidiary companies, joint ventures and spin-outs, and to set appropriate long term performance targets.
To provide regular reports to the University Executive Board and the Finance & Policy Committee on the performance of the University’s subsidiary companies, joint ventures and spin-outs.
To make recommendations to the Vice-Chancellor and President regarding the creation, disposal or winding up of subsidiary companies, joint ventures and spin-outs.
To make recommendations to the Vice-Chancellor and President regarding University-nominated directors of subsidiary companies, joint ventures and spin-outs.
To set limits for local capital investment approval for all subsidiaries and joint ventures and (where appropriate) spin-outs.
To consider and make recommendations to the Finance & Policy Committee regarding the external borrowing limits on subsidiaries, joint ventures and (where appropriate) spin-outs.
To review periodically the capital requirements of subsidiaries, joint ventures and (where appropriate) spin-outs, and make recommendations relating to their potential inclusion in the University’s capital programme.
To monitor the support needs of the subsidiary companies, joint ventures and spin-outs with respect to HR and Finance functions.
To annually review the strategic direction of the University’s subsidiary companies, joint ventures and (where appropriate) spin-outs and associates and their contribution to the University’s overall strategy.
To annually review the rationale behind the University’s involvement in all associate companies.
A Sub-Group of two members of the Subsidiaries Management Group to approve directors of subsidiary companies, joint ventures and spin-outs for the Group outside of its meetings. The Sub-Group always to include either the Finance Director or the Registrar and Secretary.

Membership

Membership:

Jeremy Lindley, Finance Director acting on behalf of the Vice-Chancellor & President (Chair)

Chris Thompson, Lay Member

David McBeth, Director of Research and Entreprise

Jo Horsburgh, Registrar & Secretary

Jon Greenwood, Director of Commercial Services

Helen Selvidge, Assistant Director of Human Resources (Specialist Services)

In Attendance

Polly Salter, Secretary

Rod Peet, Deputy Finance Director

Michael Slade, Accountant, Tax and Subsidiary Companies

Deian (Tex) Tecwyn, One lay member (previously Deputy Treasurer)

Meeting Dates

All Meetings are to be held in Heslington Hall.

Date	Time	Location
2019-20
Wednesday 18 September 2019	1.00pm - 3.00pm	H/G09
Thursday 5 December 2019	1.00pm - 3.00pm	H/G19
Wednesday 4 March 2020	2.00pm - 4.00pm	H/G09
Friday 17 April 2020	9.00am - 11.00am	H/G09
Thursday 21 May 2019	2.00pm - 4.00pm	H/G09
September 2019 (to be confirmed)

Subsidiaries Management Group reports to the University Executive Board

Chair

Jeremy Lindley

Who to contact

Polly Salter
Finance Director's Office
finance-director@york.ac.uk
01904 322106

Polly's working days are Monday - Wednesday.