Finance and Corporate Performance Committee

Role

Such powers delegated to the Committee by Court are as defined in the Scheme of Delegation. The Committee shall have full authority to undertake and review activities associated with any matters within its terms of reference. For the purposes of such activities, it shall be provided with adequate resources and full access to information and University personnel.

Reports to:

The Committee reports to the governing body, the University Court. The Committee will therefore report through a paper relating to any substantive matters for consideration and through the submission of the minutes (these can include unapproved minutes agreed with the Committee Chair) of each meeting to the next available meeting of Court and the Committee Chair will provide a brief report highlighting items for Court to formally approve and/or note.

Responsibilities:

The development, implementation and review of the Strategic Plan and associated enabling strategies including operational plans (where applicable to the remit) and associated policy, procedures and annual budgets.

Any significant financial deviation from such plans.

The key performance indicators for the University as agreed by Court

The annual financial statements for each financial year.

All proposals for the borrowing of money and also for the receipt of such borrowings.

The financial projections prepared for submission to the Scottish Funding Council.

Oversight of the management and application of all funds of the University ensuring they are handled within the Financial Regulations.

Oversight of the University’s Financial Policies and Procedures.

Matters relating to the insurance of Court and its members and all employees of Court and all properties and other assets of the University against any appropriate risks.

The criteria for the selection, appointment, and remuneration of insurance brokers and to recommend, following consideration of appropriate candidates, the appointment of such insurance brokers.

Oversight of the management of all activities of the University as they relate to the estate and the University’s Estate Strategy and to capital projects such as ICT infrastructure.

Oversight of the financial affairs of the University of Abertay Dundee Students’ Association.

To ensure it pays due attention to equality, diversity and inclusion in undertaking its work.

Composition

Membership

Appointed:

No fewer than 5 lay members of Court (one to act as Chair and one to act as Vice-Chair)

1 Staff member of Court (excluding those where there is a clear conflict of interest)

1 Student member of Court^[1]

Co-opted:

The Committee may co-opt lay persons who are not members of Court but who have appropriate experience or expertise, provided there is always a majority of lay members of Court.

Ex-Officio:

Vice-Principal (Strategy & Governance) and University Secretary

Director of Finance, Infrastructure & Corporate Services (FICS)

^[1]By the 1 September each year, the student governors will agree which of them will be members of which committee of Court, with a view to ensuring that there is an equitable share of membership across the committees on which student members sit.