Committee of University Council

Established as the Investment and Development Committee at Council meeting no. 110 on 6 December 2006 Resolution C110/10.

The name of the Committee was changed to Finance Committee at Council meeting no. 113 on 15 June 2007 Resolution C113/20.

Purpose

The Committee:

• Supports Council in exercising its governance responsibilities by providing advice to Council in relation to the annual budget of the University, the financial performance against budget of the University and the controlled and related entities of the University and the financial and resource strategies for the sustainability and development of the University; and
• Exercises governance responsibilities on behalf of Council in the oversight of the University’s financial and resource management and reporting systems. 

Terms of Reference

The Committee advises Council on:

• matters relating to investment, development and the financial management of the University, including borrowings and the annual budget;
• the development and enhancement of commercial activities and the University’s controlled and related entities and the monitoring of their financial performance;
• annual key performance indicators in relation to finance and resources, including human resources, and performance against the indicators;
• financial and resource impacts of major policy initiatives and development projects;
• proposals to form, participate or be members of companies and other entities;
• jointly, with the Audit and Risk Management Committee, the final draft of the annual financial statements and the audit report prior to the meeting of Council to approve the financial statements.

The Committee reviews, evaluates, approves and monitors, on the delegated authority of Council:

• the University’s financial and resource management and reporting systems.

(Revised Purpose and Terms of Reference approved at Council meeting No. 136 on 6 August 2010)

Meeting Dates and Times

The Committee meets on Fridays beginning at 9.00am

• Friday 10 February (joint meeting - Audit and Risk Management Cttee at 9.00 am)
• Friday 23 March (second joint meeting with Audit and Risk Management)
• Friday 20 April
• Friday 15 June
• Friday 17 August
• Friday 19 October 
• Friday 23 November

Finance Committee Composition

Category	Member	Period of Appointment
Chair (Council Resolution C143/5)	Mr Brian Acworth	17 June 2011 - 16 June 2013
One of two members of Council with appropriate expertise	Ms Annette Ellis	11 February 2011 - 10 February 2013
One of two members of Council with appropriate expertise	Vacant
One internal member of Council	Mr Harrison Mott	17 February 2012 - 31 December 2012
Vice-Chancellor (ex officio)	Professor Stephen Parker

Advisory Member

A member of staff with appropriate expertise (nil voting rights)

Dr Monir Mir

Attendees with speaking rights

Registrar	Mr Bruce Lines
Director, Financial Services	Ms Vicki Williams

Secretariat

Secretary	Ms Maria Storti
Minutes Secretary	Peter Hill

Members will be appointed by Council and will hold office for two years, or in the case of student members, one year. Members may be re-appointed for an additional term. Membership will be staggered. Subject to Councils approval the committee may co-opt an additional advisory member to ensure an appropriate level of expertise or gender representation.