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The Finance and Corporate Performance Committee advises the University Court on 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.
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.
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.
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 Abertay University Students’ Association.
To ensure it pays due attention to equality, diversity and inclusion in undertaking its work.
Membership
Appointed:
No fewer than five lay members of Court (one to act as Chair and one to act as Vice-Chair)
One Staff member of Court (excluding those where there is a clear conflict of interest)
One Student member of Court1
Co-opted:
Court may appoint additional 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 on the Committee
Ex-Officio:
Vice-Principal 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.
Chair of Audit & Risk Committee
Non-members may be invited to attend meetings at the discretion of the Chair to contribute expertise to specific agenda items.
Secretary to the Finance and Corporate Performance Committee
Head of Governance and Deputy Secretary (nominated as Secretary by the Vice Principal and University Secretary)
Clerk to the Finance and Corporate Performance Committee
Governance and Policy Officer (Minute Secretary) or their nominee.
Five members of the Committee (including the Director of FICS)
The Committee shall meet at a minimum of four times per academic session.
On request of the Chair, extraordinary meetings will be convened as appropriate.
The standing orders of Court apply mutatis mutandis to the Finance and Corporate Performance Committee as a Committee of Court.
The terms of reference shall be reviewed by Court at least every three years.
Approved by Court , 26 June 2024
Appointed Members:
Antony Marks – Chair
Liz Blackburn - Vice-Chair (from 1 September 2024)
Jim MacGregor (until 31 December 2024)
Ex-Officio
Caroline Summers- Vice-Principal and University Secretary
Gordon Weir – Director of Finance, Infrastructure and Corporate Services
In Attendance
John Barnett – Chair of the Audit and Risk Committee
Secretary
Dr Dianne Peden – Head of Governance and Deputy Secretary
Clerk
Vanessa Kind – Governance and Policy Officer
If you would like a copy of the Committee Terms of Reference and Composition in another format, please email governance@abertay.ac.uk