4. Designated Officer
The Vice-Chancellor is the University’s Designated Officer responsible for compliance with the financial memorandum with HEFCE. In this capacity, the Vice-Chancellor must advise the Council if, at any time, any action or policy under consideration by them appears to the Vice-Chancellor to be incompatible with the financial memorandum. If the Council decides nevertheless to proceed, the Vice-Chancellor must immediately inform the Chief Executive of HEFCE in writing. The Vice-Chancellor must ensure that annual estimates of income and expenditure are prepared for consideration by the Council and for the management of budgets and resources within the estimates approved by the Council. As the Designated Officer, the Vice-Chancellor may be required to justify any of the University’s financial matters to the Public Accounts Committee at the House of Commons.
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