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Remit of Finance & Property Committee

 

Terms of Reference

 

General

1. To manage on behalf of Court all matters of finance and property of the University as set out in Part A of Schedule 1 of The Napier University (Scotland) Order of Council 1993 including making such arrangements as the Committee thinks fit for the conduct of the financial affairs of the University.

 

2. To approve such strategies as may be required in relation to matters of finance and property.

 

Finance/Commercial

3. To recommend to Court the annual University budget, taking account of agreed corporate plans.

 

4. To monitor and review the financial and commercial performance of the University throughout the year.

 

5. To review the annual financial statements prior to submission to the Court and make appropriate recommendations to Court in parallel with the Audit Committee.

 

6. To ensure that the annual financial statements of the University are prepared in accordance with the Financial Memorandum between the University and the Funding Council.

 

7. To consider and determine on behalf of Court all matters relating to the creation of and investment in University-related companies. The committee may choose to delegate this function to a sub-group.

 

Property

8. To approve and report to Court proposals for major property transactions which exceed the authority delegated to the Principal under the Schedule of Delegated Financial Authority.

 

9. To ensure the University’s estate is being adequately maintained.

 

10. To maintain an oversight of the environmental impact of the University.

 

11. To carry out such other related functions as may be requested from time to time by the Court.

 

 

Quorum

One third of the current membership, including at least two lay members of Court.

 

Frequency of Meetings

Normally five times a year, including four meetings approximately one month prior to meetings of the Court.

 

Reporting Requirements

The Court must receive a Report of each meeting. The Committee is also required to confirm (in parallel with the Audit & Risk Committee) that the Court can approve the Annual Report and Accounts each year.


To facilitate this the Convenor of F&PC will be “in attendance” at Audit & Risk Committee for the item where the Report and Accounts are discussed to enable any matters identified by F&PC to be highlighted and discussed.

 

Current Sub-Committees

Commercialisation sub-panel