Committees

Finance and Resources Committee

Terms of Reference

1. Purpose

    The Finance and Resources Committee is a formally constituted committee of Council with particular responsibility to assist, seek appropriate safeguards and advise Council in fulfilling its corporate governance and independent oversight responsibilities in relation to the University's operational policies, projects and performance.

    The Finance and Resources Committee is the Executive Committee of Council delegated to take action on urgent issues between Council meetings.

2. Objectives

    The Finance and Resources Committee shall be responsible for:

    A. Overseeing and monitoring strategic developments and projects including:

    (i) Business cases for all major developments (not already overseen by a specific purpose Council Committee);

    (ii) Progress on capital and infrastructure projects.

    B. Reviewing the University budget

    (i) Reviewing the draft operating budget ahead of its presentation to Council;

    (ii) Reviewing the draft Capital Management Plan ahead of its presentation to Council.

    C. Monitoring of financial performance

    (i) Regular financial reporting

    (ii) Financial, treasury and investment performance

    D. Monitoring of other resource performance:

    (i) Student load reporting;

    (ii) Human resources reporting;

    (iii) Environmental reporting.

    E. Approving operational policies

    (i) Reviewing and recommending to Council new policies and related items, as submitted by the relevant officers, in the areas of finance and investment management, staffing, capital works and other relevant administrative areas;

    (ii) Approving, under delegated authority, amendments to policies related to the operational areas (as cited in E(i) above).

    F. Operating as the Executive Committee of Council for any urgent matters arising between Council meetings

    (i) Acting under delegated authority to take action on urgent issues between Council meetings and to report such action to Council;

    (ii) Considering such matters as may be referred to it by the Council or the Vice-Chancellor;

    (iii) Acting on any additional delegations conferred on the Finance and Resources Committee.

3. Delegations

    Consistent with its purpose and objectives, the Finance and Resources Committee holds the following delegations:

    (i) Acting on behalf of Council on urgent matters between Council meetings;

    (ii) Approving detailed project budgets within the Capital Management Plan of $5 million or greater;

    (iii) Approving major amendments to operational codes, standards and policies.

4. Membership

      (i) The Finance and Resources Committee shall consist of:

      a) the Chair of the Finance and Resources Committee, who is appointed by Council and must be an external Council member. Where possible, the Deputy Chancellor will Chair the Finance and Resources Committee. Should the Chair be absent from a meeting, the Vice-Chancellor will chair that particular meeting.

      b) three (3) external Council members nominated by Council, at least one of whom has recognised professional financial, commercial or resource management qualifications and expertise. Council may allow for one (1) of these roles to be filled by a co-opted member who is external to the University, provided they have recognised professional financial, commercial or resource management qualifications and expertise;

      c) the Vice-Chancellor;

      d) one (1) staff elected member of the University Council nominated by the Council

      e) one (1) student elected member of the University Council nominated by the Council

      (ii) Unless otherwise provided, the term of office of all Finance and Resources Committee members shall be two years. Re-appointments are permitted. Wherever possible, both genders shall be represented on the Committee;

      (iii) Invited attendees as non-voting observers:

      a) Chief Administrative Officer and the Chief Finance Officer;

      b) any other member of the University Senior Executive;

      c) other persons as required depending on the issues for consideration.

5. Professional Development

(i) The University will assist the Committee in maintaining appropriate skills and expertise;

(ii) The University is responsible for providing new members with an appropriate induction program and educational opportunities;

(iii) The University is responsible for providing the Committee with educational resources relating to current topics pertinent to the University, and other resources, as reasonably requested by the Committee.

6. Meetings and Quorum

(i) The Committee shall meet at least four times per year;

(ii) The quorum for a meeting shall be half plus one of the Committee members with a minimum of two external members present.

 

7. Agenda and Minutes

(i) The University will provide secretariat support to the Committee as a Committee of the University Council.

(ii) The Committee Executive Officer must prepare the draft agenda for approval of the Committee Chair for circulation at least seven days prior to the scheduled meeting.

(iii) The Committee Executive Officer must prepare the minutes of the committee meeting within seven working days of each meeting and forward the draft minutes to the Chair.

(iv) After the Committee Chair has reviewed the minutes, the draft minutes are to be circulated to all Committee members.

(v) The minutes of the meetings must be ratified and signed at the next Committee meeting.

(vi) Each set of minutes will be presented to the next available Council meeting.

 

8. Evaluation and Review

    To ensure the Committee is fulfilling its objectives, the Committee will:

(i) Conduct an biennial assessment of its performance against its Terms of Reference and provide a report of its findings to the Council;

(ii) Note feedback and recommendations resulting from the Council’s review of the performance of its committees;

(iii) Review, at least every three years, the Committee Terms of Reference and, in conjunction with the Secretary to Council, recommend to Council any appropriate amendments for approval.

Committee Dates

2018 Schedule of Committee Meetings (Draft)

The 2018 Schedule of Committee Meetings is currently under development. All approved and tentative dates advised to Governance have been updated on this schedule.

Please send any additions or changes to Governance.

2017 Schedule of Committee Meetings

This schedule includes meeting details for University Council and Council Committees, Academic Senate and its committees, as well as Faculty and other University Committees.

The 2017 Schedule of Committee Meetings is currently up to date. Any additions or changes should be sent to Governance.