Resources & Finance Committee
Standing Committee of Council
1.
Membership
1.1
Appointment of Chair
An external member of Council with appropriate business, finance and resource
experience appointed by Council on the recommendation of Membership Committee.
1.2
Current membership
Category
Member Name
The Chancellor (ex officio)
Mr Simon McKeon
A Deputy Chancellor
Mr Yehudi Blacher
Mr Shane Buggle (Chairperson)
The Vice-Chancellor & President (ex officio)
Professor Margaret Gardner
(Alternate - Professor Edwina Cornish)
Four members of Council
Ms Heather Carmody
The Hon Simon Crean
Mr Mark Cubit
Ms Meghan Hopper
In Attendance:
Senior Vice-President & Chief Financial
Officer
Mr David Pitt
Senior Vice-President & Chief Operating
Officer
Mr Peter Marshall
Representative of Audit & Risk Committee
Mr Paul Kirk
Executive Director, Financial Resources
Management Division
Ms Jessica Lightfoot
Secretary:
Executive Director – Corporate Finance
1.3
Mr David McWaters
Duration of term
1 year or until Membership Committee and Council have considered and approved
revised memberships, whichever is the latter.
Each year Councillors are invited to nominate for membership of Committees of
Council. Nominations are considered by Membership Committee and
recommendations on membership forwarded to Council for its consideration.
1.4
Co-option of members
Resources & Finance Committee may co-opt additional persons, whether or not
members of Council, who have expertise of particular value to the Committee’s
proceedings. Approval of each such co-option shall be reported to the Council
meeting following the decision to co-opt. At least half the members of the Resources
& Finance Committee must be Council members and thus any such co-option is made
subject to this requirement.
2.
3.
Terms of reference
2.1
To seek to achieve the best possible disposition of physical and financial resources
for the University, including the financial evaluation of physical resource
developments and financial proposals.
2.2
To advise Council on financial and investment matters, including borrowings, and the
annual plan and budget.
2.3
To review and monitor the financial performance of the University, including its
investments, controlled entities and major commercial activities, and advise Council
accordingly.
2.4
To recommend to Council annual key performance indicators 1 in relation to resources
and finance, review performance against these indicators, and advise Council
accordingly.
2.5
To advise Council on proposals to form, participate or be members of companies and
other entities.
2.6
To take decisions on behalf of Council in accordance with financial delegations
approved by Council.
2.7
Where matters are outside that delegation, the Committee will review the matter and
provide a recommendation for Council approval. In the event that a significant matter
of commercial-in-confidence is to be considered, the Vice Chancellor will consult with
the Chancellor and the Chair of this Committee and request Council to appoint small
oversight committee2.
2.8
Upon review, report to the Audit & Risk Committee that the annual financial
statements as presented accord with the Committee's understanding of the financial
performance including cash flows and the statement of financial position for the year;
and that Committee members are of the view that the notes to the accounts are
consistent with the Committee's understanding of the performance and financial
position of the University and Consolidated entities.
Meetings
3.1
Frequency of meetings
As required. Meetings by circulation are permitted provided the Chair deems it
appropriate.
3.2
Quorum
The quorum is four.
4.
Reporting to Council
Following each meeting, the Committee shall submit a written report to the next meeting of
Council.
5.
Sub-Committees of Resources & Finance Committee
Subcommittees of Resources & Finance Committee are to be chaired by a member of
Resources & Finance Committee.
1
2
Includes the areas of education and research where there is relevance to resources and finance.
Refer to the Delegations Matrix and related policy document for more specific guidance.