Financial Performance Committee (FPC)

As a committee of the University Executive (UE) the Financial Performance Committee advises the UE on the financial viability and sustainability of the University in alignment with academic goals. It assists in the development and implementation of the University Economic Model (UEM), and advises the University Executive regarding the University's budget. In 2018 its terms of reference were:

Terms of Reference:
The UE Financial Performance Committee will:
1. Monitor overall financial performance and advise on strategies to improve that performance;
2. Oversee the financial stewardship of the University, including:
a. overseeing the UEM;
b. examining financial performance of faculties and central portfolios and the University strategically;
c. monitoring and reporting on the implementation of strategies in the 2016–2020 Financial Forecast, and
d. recommending strategies to improve financial performance.
3. Oversee management of risk within the finance portfolio to ensure risks are managed within the University's agreed appetite and tolerance levels, and escalate to the University Executive those risks that are outside of the Committee's remit to resolve.
4. Review periodic Internal Audit Reports.
5. Keep informed about the Campus Infrastructure Plan and monitor progress.

The UE Financial Performance Committee has the authority to:
1. Make decisions on matters within the finance portfolio, following the strategic direction agreed to by the University Executive;
2. Make decisions on financial allocation to the limit of the VP (Operations) delegation, on proposals formally supported by the BRT process.

Relationship with University Executive:
1. The UE Financial Performance Committee will refer matters to the University Executive only if the matters have an impact on the responsibility of the other UE Committees, or the Chair considers decision is of strategic importance;
2. The UE Financial Performance Committee will refer financial decisions to the University Executive above the VP (Operations) delegation; and
3. The UE Financial Performance Committee will report to the University Executive after each meeting.