1.       Terms of Reference

1.1      To advise and recommend to Council the long range financial planning for the University and all matters within the jurisdiction of the Council which have important financial implications;

1.2      To recommend to Council the annual and triennial budgets of the University;

1.3      To oversee the preparation of, and to submit for Council ’ s approval, the annual audited financial reports of the University and the audited consolidated financial reports of the University and its subsidiary companies;

1.4      To oversee the formulation and review the investment policies and strategies, including borrowing of monies for any purpose, appointment of fund managers, and to monitor the performance of fund managers and investment;

1.5      To monitor the Board of Trustees ’ management of the superannuation schemes and to be responsible for the organisation and management of any superannuation arrangements agreed by Council;

1.6      To oversee the financial management policies and procedures of the University and to monitor their effectiveness; and

1.7      To approve the establishment of subsidiaries and associated companies of the University, to oversee the establishment of “ spin-off ” companies under CityUE Group and to review their performance and possible disestablishment.

2.       Constitution

Chairman

         Treasurer

Members

         Four lay members of Council

         One external member

         President

         Deputy President

         One staff representative on Council

In attendance

         Vice-President (Administration)

         Secretary to Council

Secretary

         Director of Finance