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F&GPC Terms of Reference

  1. To have overall responsibility, on behalf of the Governors, for the conduct of the College's financial affairs and for other matters delegated by Governors.
  2. To give advice and make decisions with the aim of protecting and enhancing the College's assets and making the best use of its income so that the objects of the College, as defined in its Charter and Statutes, may be achieved.
  3. To have oversight of financial strategy and annual and longer term financial planning and forecasting and report to Governors as necessary.
  4. 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.
  5. To oversee and review the financial out-turn at the end of each financial year and report with advice to Governors on the College’s financial performance.
  6. To oversee, 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.
  7. 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.
  8. 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 liability arising from a grant shall be acceptable to the College.
  9. To advise Governors on the adoption of Financial Regulations, including Treasury Management and Investment policies.
  10. To advise Governors on borrowing policy, including approval of new borrowings.
  11. To appoint with terms of reference and to receive the Reports of the Estates and Capital Projects Committee, Investment Committee, Health and Safety Committee, Human Resources Strategy and Policy Committee and Equality and Diversity Committee, and to appoint other groups or Working Parties as appropriate to enable the Committee to conduct its business.
  12. To oversee generally the provision of services, facilities and activities necessary for the efficient running of the College.