The UTS Finance Committee Charter (PDF) outlines the committee's roles, responsibilities, composition and the manner in which it discharges its responsibilities for UTS.
Responsibilities
The committee will be responsible to Council for the provision of advice on financial matters and to act on its behalf within certain delegated authorities, while recognising the Vice-Chancellor’s responsibility for management of the university.
The committee is to make recommendations and provide advice to Council on the following matters:
Financial planning and budget
a. the Financial Plan, annual budgets, including the capital works budget, and subsequent amendments to budgets of the university proposed by the Vice-Chancellor
Financial performance
b. the ongoing financial performance of the university
Liquidity
c. cash flow and borrowings of the university
Financial sustainability
d. long-term financial matters with a view to sustaining and enhancing the financial health of the university
e. funds investment and divestment matters
Research commercialisation investment
f. monitor investment in research commercialisation activities, and translation investment returns
Controlled entities
g. oversight of the financial performance of controlled entities
Risk
h. assist Council in discharging its responsibility to exercise due care and skill in relation to the designated risks contained within the UTS Council Committees Risk Oversight Responsibilities Framework
Policy
i. oversight of the financial aspects of corporate and functional policies.
Performance
The committee will review its performance annually against the charter.
