Finance and General Purposes Committee
MembershipTerms of ReferenceReporting StructureSecretariatMeetings
| Restricted Area for Members of the Finance and General Purposes Committee |
Membership 2024/25
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The Treasurer (Chair) |
Neil Sachdev (2025) |
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The Chair of Council |
David Normington (2025) |
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The Vice-Chancellor and President |
Professor Stuart Croft |
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The Provost |
Professor Emma Flynn |
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Four independent members appointed by the Council, of whom a minimum of two will be serving independent members of the Council |
Bal Claire (2025)
Kate Holden (31 Dec 2026)
Adrian Penfold (2025)
Randip Singh (2025)
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Four members of the Academic staff, nominated by the Vice-Chancellor |
Professor Stuart Hampton-Reeves (2026)
Professor Jo Horton (2026)
Professor Olanrewaju Sorinola (2026)
Professor Stana Zivanovic (2026)
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The President of the Students' Union (SU) |
Enaya Nihal (2025) |
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One student elected by the Union of Students |
Muneeba Amjad (2025) |
(The year after a member's name indicates that their term of office normally expires on 31 July of that year.)
In Attendance:
Terms of Reference
Note: These Terms of Reference are to be read as covering the activities of the University and the University’s interests in related companies, joint ventures and the University of Warwick Foundation.
Purpose
To act as the main financial planning and oversight committee on behalf of the Council to ensure the alignment and utilisation of resources to achieve the University's strategic objectives, with delegated authority to:
1. Approve new and/or additional expenditure (both revenue and capital) not included in Financial Plan, to respond to unforeseen strategic opportunity / risks, noting:
a. aggregate approval cap of £10m per annum
b. requirement to ensure cashflow remains within limits set in approved Financial Strategy
2. Release of funding and/or rephasing of release of resources for expenditure on projects in the approved Capital Plan of up to £20m.
To oversee on behalf of the Council:
3. Implementation of the University's financial strategy and Financial Plan.
4. Preparation of the University’s annual financial statements.
5. The financial performance against budget of the University and its group entities on a quarterly basis including cashflow (or more frequently if required).
6. The University’s investments and borrowings and their performance in line with approved strategy and policy.
7. The University’s interests in related entities, joint ventures, and the relationship with the University of Warwick Foundation.
8. The strategy and performance of the University’s commercial activities.
9. The University’s employee pension arrangements.
10. Major transformational programmes, ensuring value-for-money through regular performance monitoring.
11. The review of business cases for new investment and subsequent post-investment reviews of major projects.
12. Policies and procedures in relation to the exploitation of the University’s Intellectual Property (subject to the powers of the Senate) and the performance of the University’s technology transfer activities and ventures.
13. The University’s endowment and fundraising strategy and policies, and use of donated funds and endowments.
14. Any action that may be considered necessary, including the instigation and negotiation of any significant legal proceedings, in pursuance of the management and protection of University property and reputation and the maintenance of good order.
15. The economy, efficiency and effectiveness of the deployment of the University’s resources, liaising with the Audit and Risk Committee as appropriate.
To approve:
16. The University’s Investment Strategy and allocation of funds for investment.
17. The University’s Financial Regulations and Procedures.
18. The University’s accounting policies.
19. The University’s Treasury Management policies.
20. The opening of bank accounts in line with the University’s approved Treasury Management Policy and subject to the provisions of the University statutes.
21. The structure, establishment or winding up of all University trading entities, including appointments to any Boards that are within the power of the University.
22. Any Governance and Services Agreement between the University and its related entities.
23. The financial statements of the University’s subsidiary companies and other entities.
24. Rents of campus student accommodation on the recommendation of the Student Rents Working Party.
25. Any policy or proposed course of action that will have a significant impact on the financial or budgetary position of the University, or that is material to the University’s financial risk environment.
To recommend to the Council:
26. The University’s annual capital and revenue budget and financial plan
27. The University’s annual financial statements.
28. Loans and borrowings in line with the University’s annual budget and financial plan.
29. Proposals related to investment in the University’s subsidiary and related entities.
To receive:
30. The financial plan for the Students’ Union, and to consider financial reports from the Students’ Union no less than annually.
Reporting Structure
The Finance and General Purposes Committee reports to the Council.
Click here to see a diagrammatic representation of the Committee Structure.
Secretariat
Secretary: Dr Chris Twine, Secretary to Council
Assistant Secretary: Emma Jeavons, Assistant Registrar (Governance)
Correspondence should be sent to FGPC at warwick dot ac dot uk.
The timetable for submission of reports to the Finance and General Purposes Committee is available here.
Templates for reports can be found hereLink opens in a new window.
Minutes of the Finance and General Purposes Committee may be available upon request from the Secretary.
Meetings
Dates of meetings of the Finance and General Purposes Committee can be found within the University Committee Timetable.