Strategy, Finance & Planning Committee - Terms of Reference

The Strategy, Finance and Planning Committee advises Governing Council on matters relating to strategy, financial performance, planning, employment, safeguarding, equality and diversity and corporate responsibility of the members of the University Group. More specifically SFP is expected to:

General

  1. Consider and advise on proposed corporate strategy and planning for the University and the University Group.
  2. Consider the financial performance of the University and the University Group;
  3. Consider the recognition, assessment and management of corporate risks;
  4. Advise the Council on safeguarding, equality and diversity and environmental legislative requirements.

Finance and Planning

  1. Consider and recommend to Council the annual budget for the University and the University Group.
  2. Monitor the financial performance of the University and the University Group through consideration of the year-to-date and year-end management accounts and financial forecasts in relation to the agreed budget;
  3. To approve treasury policy and investment strategy and to monitor investment performance.
  4. To ensure that the University and University Group remain solvent;
  5. To approve expenditure on major capital items and other items as permitted by the financial regulations or as powers delegated to SFP by the Council in accordance with the University’s financial regulations;
  6. To consider and approve amendments to the financial regulations including authorisation limits.

Commercial

  1. Approve the establishment of major external operations and to oversee their conduct and financial performance;
  2. Advise Council regarding the performance of wholly owned subsidiaries of the University as an integral part of the University Group and to approve the establishment of associated businesses of the University and to oversee their conduct and performance.

Human Resources

  1. Consider and agree the human resources strategy and monitor the effectiveness of the University’s management of HR through the performance management framework;
  2. Advise the Council regarding staffing policies, procedures and working arrangements;
  3. Advise the Council on the affordability of pay and remuneration arrangements for staff (except those covered by the Nomination & Remuneration Committee);
  4. Review information relating to human resource, employment legislation and industrial relations;

University estates

  1. Consider and approve proposed strategy relating to the planned development of the estates.
  2. Monitor and advise Council regarding progress in the implementation of estates plans.

Composition

The membership shall include:

Members of SFP are not permitted to serve on Audit and Risk Committee while they serve on SFP.

Officers in attendance and quorum

The senior managers in attendance are nominated by the Vice-Chancellor subject to agreement by the Chair.

Quorum is three members. SFP is expected to meet at least three times per year.