University Committees

Finance and General Purposes Committee

Standing Orders
(Governance and Business/Operations committee of Council)

These Standing Orders should be read in conjunction with the General Committee section of Standing Orders available on the University’s website.

Membership

The Chair of Council
The Vice-Chair of Council (provided they do not Chair Audit Committee)
The Vice-Chancellor and Warden
The Deputy Vice-Chancellor
The President of Durham Students' Union
Up to six members of Council appointed annually by Council

The Chair shall be a lay member of Council appointed by Council on the recommendation of the nominations Committee.

The Committee may co-opt up to two additional members annually. Co-opted members will be eligible for reappointment.

In attendance:

The Pro-Vice-Chancellor (Education)
The Pro-Vice-Chancellor (Research)
The Treasurer and Acting Registrar
The Director of Finance

Observers:

In the event that the President of Durham Students' Union is unable to be present at a meeting of the Committee he/she shall be entitled to seek the approval of the Chairman to nominate one observer who shall be a registered student of the University to attend the meeting in question.

Secretariat

The Secretary of the Committee shall the University Secretary (Interim).

Matters Reserved to Council

The Committee shall exercise all the powers of Council in financial matters except in relation to those items which are reserved to Council in these Standing Orders, on which the Committee shall advise Council.

The matters reserved to Council for approval are:

  • University Strategy, including the financial strategy;
  • Financial forecasts;
  • Revenue and capital budgets;
  • Annual financial statements;
  • Individual decisions with an estimated financial impact in excess of £3 million;
  • Increases in existing fees and charges to students above anticipated increases in University costs, taken from the latest approved financial forecasts;
  • Additional fees and charges to students and the extension of existing fees and charges to additional categories of students;
  • Other matters specified by Council from time to time.

Terms of Reference

The role of the Committee shall be to monitor the financial health of the University on behalf of Council. In addition to advising Council on those matters referred to above, the Committee's responsibilities shall include:

  • to monitor and facilitate the implementation of the University’s strategy with regard to financial matters.
  • to receive reports from the Treasurer and Acting Registrar and accounts from Budget Officers and committees of the use of funds allocated to them.
  • to monitor implementation of the strategy for the University estate.
  • to receive reports of the extent and condition of the University estate including the efficiency of space utilisation, the consumption of energy and the adequacy of property insurance arrangements.
  • to consider the adequacy of the University estate and proposals for its maintenance and development, including opportunities to dispose of and acquire new properties.
  • to determine the fees and charges made for University services and facilities.
  • to supervise the financial administration of the University and make recommendations to Council where appropriate.
  • to supervise the arrangements for safeguarding the University's assets.
  • to ensure the proper financial evaluation and control of projects.
  • to supervise the arrangements for investing the University's funds, including monitoring the performance of endowments.
  • to ensure the appropriate exploitation of the University’s intellectual property.
  • to make recommendations to Council on the financing of projects.
  • to supervise the effective and efficient procurement and use of resources in accordance with the objectives of the University.
  • to supervise the University's purchasing procedures and practices.
  • to submit an annual assurance statement on its activities to Council in the Easter Term.

If necessary, the Committee shall conduct its business by circulation using email and telephone as appropriate.Urgent decision making in matters of a non-contentious nature relating to investment (including technology transfer activities) and estates shall be delegated to a sub-group of committee members with relevant knowledge and experience, to be convened by the Chairman.A report of matters where such action is taken will be made to the next meeting of the Committee and included in its minutes.