Finance Committee

Terms of Reference

  • Make recommendations to the Council on the University's annual revenue and capital budgets, within the strategies and plans approved by the Council, and monitor performance in relation to approved budgets
  • To approve revenue projects in line with the limits outlined in the Delegated Authority Policy; such limits to be reviewed from time to time and adjustments to be approved by Council

Main Activities

  • Approve and recommend to the Council the University's annual revenue and capital budgets, and thereafter monitor performance against these budgets
  • Review and approve the University's systems and procedures for accounting and exercising financial control, taking account of the report of the Audit and Risk Committee
  • Advise the President and Vice-Chancellor as the University's Designated Officer on the financial status of the University
  • Approve and recommend to the Council long-term financial projections
  • Annually approve a medium-term financial plan
  • Review and approve for submission to the Council the annual financial statements of the University and its subsidiary companies and entities
  • Formulate responses to relevant Audit and Risk Committee reports that have been submitted to the Council for review and approval by the Council, and monitor implementation of approved actions
  • Review and approve the University's investment policy in the light of advice from the University's professional investment advisers, subject to the approval of the Council as required
  • Establish Estates and Buildings Project Groups as required and review, approve and monitor the implementation of the University's estate management policies and procedures
  • Establish expert and working groups as necessary to consider proposals in detail and receive their reports
  • Consider reports on relevant financial matters relating to the University of Nottingham Malaysia Campus and the University of Nottingham Ningbo China


Treasurer (Chair): Steve Walton

Chair of Council: John Mills

President and Vice-Chancellor: Professor Shearer West

Two Pro-Vice-Chancellors: Professor John Atherton, Professor Kevin Shakesheff

Up to five external members of Council*: Simon Amess, Carolyn Morgan, Trevor Moss, Nora Senior

One Senate representative on Council: Professor Kevin Lee

Students' Union Representative: Cassie Ulrich (Postgraduate Officer)

Secretary: Margaret Monckton (Chief Financial Officer)


The Committee may invite members of University Executive Board and other officers as necessary to attend as business requires

The Chair of Audit and Risk Committee and the Deputy Vice-Chancellor may also be in attendance at Finance Committee as an observer

Any member of Council who is not on Finance Committee may be in attendance as an observer for an individual meeting


updated April 2019

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