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F&GPC Terms of Reference 2014/15

Finance

 

  • The Finance and General Purposes Committee has overall responsibility, on behalf of the Governors, for the conduct of the College's financial affairs and for other matters delegated by Governors.  The Committee's advice and decisions shall be directed to the protection and enhancement of the College's assets and the best use of its income so that the objects of the College, as defined in its Charter and Statutes, may be achieved.
  • Within these general terms, the Committee is specifically required:
    • to lay annually before Governors audited Accounts with a Report;
    • to submit to the Governors an annual budget of forecast income and expenditure and to report at least each term on estimated actual income and expenditure against these forecasts;
    • to control, and to report on to the Governors whenever necessary, all matters relating to banking operations, investments, cash statements, auditors' reports, invoices, and any other matters relevant to the income and expenditure of the College;
    • to delegate responsibility for budgetary control in specified areas of financial expenditure (including Schools and Professional Services) and to monitor and control expenditure within such areas;
    • to have oversight of the inflow of money from grant‑giving bodies, both for the support of specific research and for the general support of the purposes of the College, and to ensure  that any contingent liability arising from a grant or benefaction shall be acceptable to the College;
    • to have oversight of annual and longer term financial planning and forecasting and report to Governors as necessary;

 

General

  • To appoint with terms of reference and to receive the Reports of the Strategic Planning Committee, Estates Committee, Investment Committee, Safety Committee and Human Resources Strategy and Policy Committee and such other groups or Working Parties as the Committee may from time to time appoint;
  • To oversee generally the provision of such services and amenities as may be necessary for the efficient running of the College.