Finance and Investment Committee Terms of Reference

1.  The Finance and Investment Committee will advise Council on matters concerning the overall financial performance and management of the University, including (but not limited to):

(a) any matter having a significant financial impact on the University;

(b) risk in relation to financial matters;

(c) the annual University Budget;

(d) the University’s financial performance against budget and approved financial performance indicators and targets;

(e) matters relating to the investment of University funds, in accordance with the University’s Investment Policy;

(f) the financial performance of University subsidiaries and joint ventures;

(g) financial implications for, and ability of the University to deliver on significant matters relating to the physical resources of the University;

(h) significant matters relating to the financial management of the University’s human resources;

(i) policies and procedures relevant to its terms of reference; and

(j) any matters relevant to its terms of reference which might be referred to it by Council or the Vice-Chancellor from time to time.

2.  The Finance and Investment Committee will:

(a) receive regular reports on, and proactively monitor the performance of the University's investments and of any appointed investment funds managers;

(b) ensure the University's investment portfolio and policy is reviewed on a regular basis.

3.  The Finance and Investment Committee has authority delegated to it by Council to:

(a) approve the expenditure of capital funds, in accordance with the provisions set out in University policy and procedures relating to capital budget expenditure;

(b) approve the write off of bad debts over and above the delegation of the Chief Financial Officer;

(c) approve investment-related matters in accordance with the University’s Investment Policy.

4.  The Finance and Investment Committee may establish sub-committees to advise it on any matters within its terms of reference.

5.The Finance and Investment Committee will annually review and report to Council on its own performance.

Composition and membership

• External member of Council, other than the Chancellor, with financial and/or commercial expertise appointed by Council (Chairperson).
• Up to five persons external to the University with relevant expertise, appointed by Council, subject to the resulting composition having an equal or greater number of Council members compared to other persons.
• Vice-Chancellor (ex officio)

View Finance and Investment Committee membership (PDF)

In attendance

• Vice-President (Corporate Services) (ex officio)
• Chief Financial Officer (ex officio)
• Additional persons with relevant expertise may attend meetings in an advisory capacity at the invitation of the Chair.

Term

The term of office for members is two years.

Quorum

50% of membership plus 1

Meeting frequency

Meetings will be held 4 times per year coinciding with quarterly reporting