Financial Plan Committee
MembershipTerms of ReferenceReporting StructureSecretariatMeetings
| Restricted Area for Members of the Financial Plan Committee |
Membership 2024/25
|
Vice-Chancellor and President (Chair) |
Professor Stuart Croft |
|
Provost |
Professor Emma Flynn |
|
Group Finance Director |
Rosie Drinkwater |
|
The Pro-Vice-Chancellors |
Professor Lorenzo Frigerio Professor Caroline Meyer Professor Michael Scott |
|
Registrar |
Rachel Sandby-Thomas |
|
Chief Information and Transformation Officer |
Raja-Saleem Javaid |
|
Commercial Director |
Chris Hunt |
|
Secretary to Council |
Dr Chris Twine |
| Chief Communications & Marketing Officer | Ajay Teli |
|
One academic member from Academic Resourcing Committee |
Dr Jane Webb (2027) |
|
One academic member of Senate |
TBC |
|
One Vice-Provost or nominee |
Professor Michael Ward (2026) |
Note: The year after a member's name indicates that their term of office expires on 31 July of that year. Independent members from the Council can change annually.
In Attendance:
Terms of Reference
Purpose
To develop, with delegated authority from UEB, the University’s Financial Plan, ensuring robust scrutiny and challenge to ensure proposed budgets meet requirements for efficiency, effectiveness, economy and alignment with University strategy.
To recommend to Finance and General Purposes Committee:
1. The proposed planning parameters within which each year’s Financial Plan must be developed and the general planning assumptions to be adopted by departments.
2. The University’s Financial Plan (including the Capital Plan), following appropriate consultation with key stakeholders, including regular updates on the Plan’s development with the Treasurer.
3. Project progression to the next RIBA stage, ensuring continued alignment with project budget and business plan, and University cashflow remaining within limits set in the approved Financial Strategy.
To approve:
4. Setting of provisional budget envelopes / targets for the main budgetary groups (ARC, CCSG, PSG (and its constituent sub-groups) and Land & Property Activities) and subsequent revisions to those envelopes, within the approved planning parameters, to reflect emerging priorities and the associated redistribution of resources. Note that final budget envelopes are only confirmed after the Financial Plan is approved by Council.
5. New capital and/or revenue expenditure not included in Financial Plan, to respond to unforeseen strategic opportunity / risks, noting:
a) only bids over £100k will be considered by FPC. Anything below £100k should be considered by the lead Budget Holder for inclusion in their budget envelope.
b) aggregate approval cap of £5m per annum (noting FGPC may approve further delegated authority to spend above this amount in-year);
c) requirement to ensure cashflow remains within limits set in approved Financial Strategy.
6. Requests for approval of, and alterations to, tuition fees and other academic fees, and associated fee policies on the recommendation of the Fees Working Group.
To oversee:
7. Impact upon key financial KPIs during development of the Financial Plan.
8. Emerging risks to financial sustainability, including issues highlighted in the annual TRAC Return, and ensure appropriate actions and mitigations are implemented.
Reporting Structure
The Financial Plan Committee reports to the University Executive Board.
Click here to see a diagrammatic representation of the Committee Structure.
Secretariat
Secretary: Nikki Constant, Finance Director
Assistant Secretary: Liz Gillick-Daniels, Administrative Officer (Governance). Please use fpc at warwick dot ac dot uk in the first instance to make contact.
Correspondence should be sent to fpc at warwick dot ac dot uk.
Please refer to the Secretariat at the email above for the timetable for submission of reports to the Financial Plan Committee.
Templates for reports should be requested from the email above.
Meetings
Dates of meetings of the Financial Plan Committee can be found within the University Committee Timetable.