The Finance Committee is responsible
to Council for the finances of the University, including financial
strategy, budget setting, annual accounts, monitoring of investment
activity and consideration of capital expenditure.
Secretary to the Committee: If you would like further information about the Finance Committee, please contact Caroline Harris (ext 4141 or email email@example.com).
Terms of office expire on 31st July in the year stated.
|Mr P Wyman||Chair (Treasurer)||
|Professor Dame Glynis Breakwell||Vice-Chancellor||
|Professor K Edge||Deputy Vice-Chancellor||
|Mr R Hughes||Lay Member of Council, elected by Council||
|Mr R Whorrod||Lay Member of Council, elected by Council||
|Mr M Hawkesworth||Lay Member of Council, elected by Council||
|Professor J Knight||Member of Council/Senate, elected by Council||
|Professor G Price||Member of Council/Senate, elected by Council||
|Mr C Clements||President of the Students' Union or nominee||
|Mr K Woodley||Co-opted member||
|Mr A Pool||Students' Union Vice President||
|Mr J Sherwin||
The following Officers routinely attend meetings of the Committee:
|Mr M Humphriss||University Secretary|
|Mrs D Aderyn||Director of Finance and Commercial Services|
|Mr J Morgan||Deputy General Manager
(Observer for unreserved business)
(a) To review each year the financial resources available to the University, with a report on the principal internal allocation of resources, and to recommend a budget to Council for the implementation of the plans of the University.
(b) To have general supervision of the finances of the University, to ensure that expenditure incurred has been properly authorised, and to make recommendations to Council on any related matters.
(c) To supervise the University’s investment activity in the following ways:
(i) To determine the allocation of funds for investment, indicating the liquidity requirements attached to the funds.
(ii) To determine the strategic orientation, risk profile and allocation policy of funds under its management.
(iii) To appoint fund manager(s) and receive reports on the performance of investments under their management.
(d) To appoint the University’s banker(s) and approve the designation of bank account signatories;
(e) To monitor the University's investments in any trading activities or operations in which the University has an interest.
(f) To examine and approve the basis and structure of any trading companies which the University might propose to set up and to approve their disestablishment.
(g) To consider, prior to submission to the Audit Committee, the audited accountsand to make recommendations to Council.
NB. The External Auditor will be invited to attend for this item of business.
(h) To consider capital land and building projects estimated to cost in excess of £1 million and to make recommendations to Council.
(i) To consider each new major item of capital expenditure to be funded from University resources estimated to cost in excess of £1 million and to make a recommendation to Council.
(j) To receive, for information, reports of capital expenditure estimated to cost between £500,000 and £1 million approved by the Vice-Chancellor.
(k) To consider any proposed upward revision of an approved capital project budget and to make a recommendation to Council, where the proposed revision totals:
(i) in excess of £500,000 and the approved budget is £2.5m or below; or
(ii) in excess of £750,000 and the approved budget is above £2.5m.
(l) To receive regular reports on the allocation of borrowing to specific projects and to recommend to Council any variance in the terms of the borrowing arrangements or in the total value of the borrowing.
(m) To consider the acquisition and disposal of land and buildings and to make recommendations to Council.
(n) To consider significant land and building leasing arrangements and to make recommendations to Council.
(o) To receive the minutes of the Audit Committee for information.
(p) To approve the annual budget of the Students’ Union, and to receive, for information, its Annual Financial Statements.
(q) To approve fees chargeable by the University (subject to any changes in the statutory fee level being considered and recommended to Council)
(r) To consider significant changes in the University's Bursary Scheme and to make recommendations to Council.
(s) To make recommendations to Council on the writing off of debts of £250,000 and above and to approve the writing off of debts between £50,000 and £250,000 and above.
- 6 June 2013
- 25 April 2013
- 7 February 2013
- 1 November 2012
The minutes and summaries of meetings of the Finance Committee are not published here because they contain information which the University has declared will not be routinely published under the Freedom of Information Act 2000. Further information about the Act (including the reasons why such information is exempt from publication) is available at http://www.bath.ac.uk/foi/faqs-staff-general.htm. If you have any queries about the business conducted by the Committee, please contact Caroline Harris (ext 4141 or email firstname.lastname@example.org).
Membership: Vice-Chancellor/Treasurer/Deputy Vice-Chancellor or Pro-Vice-Chancellor
appointed by the Vice-Chancellor/Five Members of Council, elected
by Council, of whom two will be members of Senate and three will be
lay members of Council/President of the Students' Union or nominee.
Appointment of Chair: The Treasurer shall be the Chair of the Finance Committee.
Co-option: Council Standing Orders 16(iv) and 16(v).
Alternates: Council Standing Orders 17(iii) to (vi).
Quorum: One third of the membership (Council Standing Order 16(vi)), including at least two lay members.
Rules for voting: None specified.
Minutes: Submitted to Council.
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