Finance and Corporate Performance Committee

1. Status

1.1 In accordance with the Scottish Code of Good HE Governance and the University’s core governance framework, Court has established the Finance and Corporate Performance Committee (the Committee). These Terms of Reference, approved by Court, define the Committee’s purpose, delegated authority, responsibilities and operating arrangements. They should be read in conjunction with other key governance documents available at Court's Key Documents.

1.2 The Committee shall only act within its approved remit, escalating matters that exceed its delegated authority as defined in the Scheme of Delegation and Decision-Making Powers or present material risk to Court in a timely and transparent manner, in accordance with the University Court Standing Orders and recognised good governance practice.

1.3 Delegation to the Committee does not transfer or diminish Court’s collective responsibility or accountability. Court retains the right to rescind or vary any decision of the Committee, without prejudice to actions already undertaken.

1.4 In the event of any inconsistency between these Terms of Reference and the University’s corporate governance framework, primacy shall be determined in accordance with the governance hierarchy set out in the University Court Statement of Primary Responsibilities.

2. Purpose and Scope

2.1 The purpose of the Committee is to support Court in discharging its responsibilities for:

financial sustainability and resilience;
oversight of strategic and operational performance;
budgetary control and financial planning; and
estates, capital investment and infrastructure.

2.2 Operational delivery of financial management, corporate performance, planning and regulatory compliance remains the responsibility of the Principal and Vice‑Chancellor and the Senior Leadership Team under delegated authority.

3. Responsibilities

3.1 Strategy, Planning and Performance

a) oversee the development, implementation and periodic review of the University’s Strategy and relevant supporting strategies within the Committee’s remit; and
b) oversee and monitor institutional performance against the Strategy, agreed key performance indicators, and relevant operational plans.

3.2 Financial Management and Sustainability

a) review and recommend to Court annual budgets and medium-term financial plans;
b) monitor financial performance against approved plans, including material variances and corrective actions;
c) review the annual financial statements prior to their submission to the Audit and Risk Committee;
d) consider financial statutory returns (including to the Scottish Funding Council);
e) review and recommend proposals for the borrowing, treasury management and financing arrangements; and
f) oversee the effective stewardship, management and application of University funds in accordance with the University’s Financial Regulations.

3.3 Financial Policy and Control

a) oversee the effectiveness and periodic review of the University’s Financial Policy Documents including the University’s investment arrangements.

3.4 Estates, Capital Investment and Infrastructure

a) oversee the management all activities of the University as they relate to Estates, Capital Investment and Infrastructure;
b) review and monitor capital investment programmes and major projects, including digital and ICT infrastructure;
c) ensure that estates and infrastructure planning supports strategic objectives and long-term financial sustainability; and
d) environmental sustainability, including climate-related risks and impacts relevant to the University’s operations, investments and supply chain.

3.5 Subsidiary and Associated Activities

a) oversee of the financial affairs of the Abertay University Students’ Association and other subsidiary or associated entities in accordance with agreed arrangements.

3.6 Equality, Diversity and Inclusion

a) have due regard to equality, diversity and inclusion in carrying out its responsibilities, considering the implications for people with protected characteristics and other underrepresented or vulnerable groups in relation to financial planning, resource allocation and investment decisions;
b) ensure that equality impact assessments, or equivalent consideration of equality implications, are undertaken where required for relevant strategies, policies and major decisions within the Committee’s remit.

3.7 Review of Effectiveness

a) undertake an annual review of the Committee’s effectiveness, remit and sufficiency of delegated authority, including these Terms of Reference, and consider whether any amendments are required in light of legislative changes, governance frameworks or recognised good governance practice, with any proposed updates recommended to the Governance and Nominations Committee for onward approval by Court.

3.8 Other Responsibilities

a) take such other actions as are required or directed by Court in relation to financial management, performance oversight and the stewardship of resources.

4. Composition

4.1 The Committee shall be constituted to provide an appropriate level of expertise in financial management, corporate performance, commercial matters.

4.2 All members of the Committee shall comply with the Code of Conduct for Members of the University Court and shall declare and manage conflicts of interest in accordance with the University Court Standing Orders.

4.3 Membership:

Appointed:
a) No fewer than five lay members of Court (one to act as Chair and one to act as Vice-Chair)
b) One staff member of Court (excluding those with a clear conflict of interest)
c) One student member of Court1
External Members
a) Court may appoint additional external lay members with appropriate experience or expertise, provided that there is always a majority of members of Court on the Committee.
Ex-Officio:
a) Deputy Principal and University Secretary
b) Director of Finance, Infrastructure and Corporate Services

4.4 Non-members may be invited to attend meetings at the discretion of the Chair to contribute expertise to specific agenda items.

4.5 The Secretary to the Committee shall be the Head of Governance and Deputy Secretary or their nominee.

4.6 The Governance and Policy Officer shall act as Clerk to the Committee and shall be responsible for minute‑taking.

5. Meetings and Proceedings

5.1 The Committee shall conduct its business in accordance with the Standing Orders which apply to Committees with any necessary modifications and subject to any Committee‑specific provisions approved by Court.

5.2 Meetings shall be held at least four times per academic year or more frequently as required.

6. Quorum

6.1 Five members of the Committee (including the Chair or the Vice-Chair and the Director of Finance, Infrastructure and Corporate Services or their nominee if they are unable to attend).

7. Reporting

7.1 The Committee reports directly to Court through the submission of its minutes (these can include unapproved minutes agreed with the Committee Chair) to the next available meeting of Court.

7.2 The Committee will also report to Court through a paper relating to any substantive matters for consideration.

Approved by Court, 17 June 2026