Finance Committee (FC) (1880)

On 1 December 1880 the Vice-Chancellor presented a financial statement to Senate which showed that the funds of the University's general fund were heavily overdrawn. After considerable discussion the following resolutions were agreed to:

(1). "That a committee be appointed consisting of the Chancellor, Vice-Chancellor, HC Russell Esq, Dr Renwick, the Hon. William Macleay, and C Rolleston Esq to report on the University finances and in case it should appear that the expenditure is in excess of the income to consider and suggest what alterations are desirable in order to bring the expenditure of each year within its appropriate income"

A Special Meeting was held by Senate on 15 December 1880 to receive the report of the Finance Committee appointed at the December monthly meeting. From then on reports of the Finance Committee are regularly referred to in Senate minutes.

The Finance Committee became a standing committee of Senate, and its members were elected annually (see Senate Minutes 8 April 1890 for reappointment). Its establishment was formalised through University By-Law XXVI, published for the first time in the 1892 Calendar. Senate at a Special Meeting held on 9 September 1889 carried a resolution

1. that a code of by-laws be prepared for regulating the care and management of the University's finances generally...3. That the Chancellor's memorandum of July 23rd be referred to the Committee for consideration in the preparation of their draft." [Senate Minutes 9/11/1889, p.172]

At one point the Finance Committee deliberated upon almost every facet of university activity, from investments to staff appointments, and from Government grants to the purchase of furniture and equipment. In the case of staff matters, the influence of the Committee is wide indeed, and their recommendations encompassed the appointment of professors and very junior staff, and tradesmen, to the granting of salary increases and leave.

In 1991 the terms of Reference of the Finance Committee were revised and the Finance and Planning Committee established.