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Finance and Infrastructure Committee

Terms of reference

The Finance and Infrastructure Committee’s primary role is to monitor and advise Senate on issues relating to the financial performance and sustainability of the University of Sydney.

It performs this role by reviewing and evaluating information provided by management on the financial impact of strategic proposals, on budget and planning priorities, and on resource and capital allocation. The Committee has particular responsibility for reviewing the capital works programme, major projects, systems and general administration.

The Committee is responsible for providing assurance to Senate on the professionalism and achievement of best practice standards in financial management and management processes in the areas monitored.

The Committee will receive reports on and discuss with management, and will as it sees fit report to Senate on matters such as:

  • the strategic planning basis for annual and rolling triennial budgets;
  • the relationship between strategic planning objectives and the budget;
  • the strategic fit of capital development (campus and ICT) plan with University goals and ambition of 1:5:40;
  • the integration into budgeting and planning of critical success factors and key performance indicators;
  • general budget and planning policy and structure;
  • policies and budget for the development and submission of Capital Development Program;
  • the relationship between budget provisions and actual expenditure patterns;
  • capital management and operating resource allocation, and assessment of priorities;
  • infrastructure capability and significant gaps;
  • Capital Development Programs;
  • implementation plans for new developments as well as major improvements and upgrades including IT;
  • the effectiveness of financial operations, structures, systems and processes;
  • cost reduction strategies, initiatives and benefits realisation;
    surpluses, debit balances and deficit accounts and assessment of recovery strategies; and
  • the outcomes and implications of the University’s Annual Financial Report, together with assessment of financial sustainability.

Constitution

  • Ex-officio:
    The Chancellor
    The Vice-Chancellor and Principal
    The Chair of the Academic Board
  • The Chair of the Finance and Infrastructure Committee is elected by Fellows of Senate (and should not be a member of the University of Sydney staff or student) for two years. It is recommended that nominators consult with the Chancellor and Vice-Chancellor before submitting a nomination.
  • Two Fellows of Senate appointed by Senate after consultation by the Chair of the Finance and Infrastructure Committee with the Vice-Chancellor and the Chancellor for two years (or for so long as in office if shorter).
  • Four external members, two with appropriate professional expertise and experience in finance and two with appropriate professional expertise and experience in infrastructure, appointed by Senate on the nomination of the Chair of the Finance and Infrastructure Committee with appropriate consultation for up to two years.

Terms of office

The terms of office are set out in the Constitution above, and no individual is to serve continuously as a member of the Committee for more than two terms.

Quorum

At any meeting of the Committee, three members shall form a quorum.

Election

In accordance with current provisions governing election to Senate Committees which include provision for self-nomination.

Attendees

  • Chief Operating Officer and Deputy Vice-Chancellor (Committee Secretary)
  • Chief Financial Officer (Director, Corporate Finance interim) (Officer to the Committee)
  • Chief Information Officer
  • Director, Human Resources
  • Pro Vice-Chancellor (Strategic Planning)
  • Pro Vice-Chancellor (Campus Planning)
  • Provost and Deputy Vice-Chancellor

Reporting to Senate

In addition to a report to Senate (which is a Senate agenda item), a copy of the full minutes of meetings and all supporting papers is made available to Fellows in the Fellows’ Room.

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