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. 

Framework

The Committee adheres to the University reporting classifications:

In addition the Committee:

More specifically the Committee 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. Consider other items by exception which may have relevance to the Committee.

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 and other performance targets;
  3. Recommend to Council the treasury policy and investment strategy and to monitor investment performance;
  4. Approve expenditure on major capital items and other items as permitted by the financial regulations or as powers delegated to the Committee by the Council in accordance with the University’s financial regulations;
  5. Recommend or approve amendments to the financial regulations including authorisation limits.

Commercial

  1. Consider and recommend the establishment of major external operations and the establishment of associated businesses of the University and to monitor 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.

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 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 the Committee are not permitted to serve on Audit and Risk Committee while they serve on SFPC.

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, with the majority being independent.

Meetings

The Committee is expected to meet at least four times per year. Members and attendees may attend in person or by video or telephone link subject to prior approval of the Chair.

Approved by Governing Council: 23 April 2021

Next review by Strategy, Finance and Planning Committee due: March 2022.