Finance Committee

Thursday 8 February
Tuesday 4 June (reserve)
Monday 29 July
Tuesday 24 September
Thursday 14 November

Time: meetings commence at 1pm

Composition

The Finance Committee consists of the following positions:

• Chair — an external member of Council appointed for expertise in financial matters
• Four other members, of whom:
  • all should have strategic financial expertise and experience
  • at least two should be members of Council with qualifications and experience related to the operations of the university
• Vice-Chancellor or nominee (ex officio)

Membership

Positions on the committee are in accordance with its composition.

The UTS Finance Committee Charter (PDF) outlines the committee's roles, responsibilities, composition and the manner in which it discharges its responsibilities for UTS. 

Responsibilities 

The committee will be responsible to Council for the provision of advice on financial matters and to act on its behalf within certain delegated authorities, while recognising the Vice-Chancellor’s responsibility for management of the university. 

The committee is to make recommendations and provide advice to Council on the following matters: 

Financial planning and budget 

a. the Financial Plan, annual budgets, including the capital works budget, and subsequent amendments to budgets of the university proposed by the Vice-Chancellor 

Financial performance 

b. the ongoing financial performance of the university 

Liquidity 

c. cash flow and borrowings of the university 

Financial sustainability 

d. long-term financial matters with a view to sustaining and enhancing the financial health of the university 

e. funds investment and divestment matters 

Research commercialisation investment 

f. monitor investment in research commercialisation activities, and translation investment returns 

Controlled entities 

g. oversight of the financial performance of controlled entities 

Risk 

h. assist Council in discharging its responsibility to exercise due care and skill in relation to the designated risks contained within the UTS Council Committees Risk Oversight Responsibilities Framework 

Policy 

i. oversight of the financial aspects of corporate and functional policies.

Performance 

The committee will review its performance annually against the charter.

The quorum at any meeting of a Council committee or board, shall, unless another number is fixed for a particular committee or board, be one-half of the members of the committee or board for the time being but, if one-half is not a whole number, shall be the next higher whole number.