University governanceFinance and Resources Committee

Terms of Reference

Purpose

The primary purpose of the Finance and Resources Committee is to advise and support Court, the University’s governing body, providing effective oversight of the University’s finances and resources to enable delivery of strategic objectives and maintain long‑term institutional sustainability.

Remit

It will be the responsibility of the Finance and Resources Committee (FRC):​

  • To oversee the delivery of the University’s financial strategy and to advise the Court on this and the appropriate use of the University’s resources.
  • To advise Court on any matter pertaining to the financial health and the performance of the University, including financial risks.
  • To review budgets and delivery of these, quarterly forecasts, management accounts and current and projected cashflows.
  • To, as appropriate, recommend approval of financial documents to Court.
  • To support Court's annual consideration of the University of Strathclyde Students' Association (USSA) annual budget and accounts.
  • To consider the external financial and policy environment and consider risks which could affect the University’s financial position, advising Court as appropriate.
  • To oversee the University’s Treasury Management and advise Court as appropriate.
  • To review pension strategy, provision and fund performance;
  • To, guided by the limits defined in the Schedule of Delegated Authority, approve, or recommend to the Court, the allocation of financial and other resources to support University strategies and plans, including major capital expenditure​, considering alignment with the University’s financial strategy and the advice of relevant strategic committees.​
  • To, guided by the limits defined in the Schedule of Delegated Authority, approve or recommend to Court:
    • long term borrowing;​
    • short term borrowing.​
    • both secured and unsecured loans to third parties;​
    • equity investments or divestments (excluding those delegated to the Enterprise and Investment Committee), including in subsidiaries and associated companies of the University or its subsidiaries and associates.
  • To recommend to Court levels of investment funding to be made available to the Enterprise and Investment Committee on an annual basis as part of the budget setting process.
  • To consider and make recommendations to Court on the University’s investment strategy and objectives taking cognisance of ethical and social responsibility issues.​

The Committee will monitor and keep under review its own effectiveness and make recommendations to Court with respect to this.

Membership

Finance and Resources Committee shall consist of:

  • The Deputy Convener (Finance) in the Chair ex officio
  • The Convener of Court ex officio
  • The Principal ex officio
  • The Vice Principal ex officio
  • The Chief Financial Officer ex officio
  • A staff member of Court
  • A student member of Court
  • Up to three further members. These members may be drawn either from financially experienced lay members of Court or from externally co-opted members, provided that no more than two members are drawn from either group. All such appointments are subject to the agreement of Court, on the recommendation of Court Governance Committee.

The following will normally attend meetings of FRC: 

  • The University Secretary
  • The Director of Strategic Planning
  • The Joint Heads of Governance (Clerk to Court)  

The Deputy Conveners, Senior Officers, members of Court and other University members of staff might attend meetings by invitation, on a regular or occasional basis as FRC itself shall determine.

Chairing and Quorum

In the absence of the Deputy Convener (Finance), the FRC will be chaired by the Convener of Court, failing whom a lay member of Court will take the chair.  The quorum for the FRC will be half of its members plus one being present provided that includes at least two lay members of Court and two Court members who are not lay members, one of whom being the Principal or the Vice Principal.

Approved by Court on 11 March 2026.