Governance

Committees Reporting to Council

2. Joint Committees of the Council and Senate

3. Finance and Strategy Committee

Composition

  • The President
  • The Vice President
  • The Treasurer
  • The Vice-Chancellor (Chairman)
  • The Pro Vice-Chancellors
  • Three members appointed by the Council
  • Three members appointed by and from the Senate
  • Two student representative

Terms of Reference

Until further notice, the terms of reference of the Finance and Strategy Committee are an amalgamation of those of the former Finance and General Purposes Committee and Planning and Resources Committee.

  1. To advise Senate and Council on the strategic objectives of the university, and to monitor adherence to them in all aspects of activity.
  2. To recommend to Senate and Council the university's Strategic Plan and to approve the university's response to requests from the Funding Council for strategic plans in relation to particular areas of activity.
  3. To consider the university's response to the requirements and policies of the Welsh Assembly Government and of HEFCW.
  4. To consider and approve the reports and recommendations of Planning Group (see below), and to take operational decisions, within approved plans and on the basis of recommendations made by the Planning Committee.
  5. To consider and approve reports of other sub Committees (currently Research Committee and Management Information Committee).
  6. To approve the annual statement on planning issues.
  7. To agree the Resource Allocation system to be used.
  8. To receive annual plans prepared by academic departments and central services.
  9. To recommend the distribution of resources to academic departments in the context of the operation of the Resource Allocation System and other relevant policy issues.
  10. To monitor the performance of academic departments and central services, taking into account nationally published data.
  11. To receive reports in relation to Student Recruitment, and to agree annual admissions targets.
  12. To undertake any other Planning and Resources activities required by the university.
  13. To delegate authority to Planning Group, in particular to take decisions in relating to resource requests from departments and sections within approved plans.

1. To make recommendations to Council on all aspects of the university's finances.
2. To consider and approve the annual budgets and/or allocations to all areas of the university and to make recommendations to Council in respect of them.
3. To monitor and approve the monthly estimates of income and expenditure, including those of trading activities and the Guild of Students, cash flow statements and estimated balance sheet.
4. To receive and approve financial forecasts in relation to all budget centres and the university as a whole.
5. To scrutinise the Annual Accounts and to recommend their adoption to Council.
6. To monitor the Financial Regulations.
7. To approve new building projects and to monitor progress.
8. To approve other estates matters including expenditure on planned maintenance.
9. To approve setting up new wholly owned companies and other investments.
10. To monitor the endowment funds and the minutes of the Investments Committee.
11. To monitor the costing and pricing of activities and the minutes of the Costing and Pricing Committee.
12. To approve the Corporate Risk Assessment and the internal controls associated with control of risks through the Corporate Risk Management Steering Group.
13. To approve all fees and charges.
14. To approve the fixing of the university seal.
15. To monitor the AU Pension Scheme.
16. To receive and approve the Annual Accounts of the Guild of Students.
17. To exercise such delegated powers as may be granted to it by the Council, for such periods and on such conditions as the Council may determine.

The Committee may establish and disestablish sub-committees and working groups to consider matters related to its terms of reference, including practical and environmental issues relating to the estate, and may determine their membership, which is not restricted to persons who are members of the Committee.

The Committee shall meet at least five times each year.

Provision shall be made for the Finance Manager of the Guild of Students to attend meetings of the Committee as appropriate.