Finance and Resources Committee
Establishment
Established by the authority of Council.
Membership
| Composition | Member | Appointment status |
|---|---|---|
| A Five external members of Council (including Chair and Deputy Chair) with appropriate expertise in finance, business or commerce on the recommendation of the Chancellor in consultation with the Vice-Chancellor and President |
Emeritus Professor John McKenzie Mr Graeme McMahon Mr Andrew Eddy Mr Richard Guy OAM Mr Tony De Domenico |
Council Member Council Member Council Member Council Member Council Member |
| B Chancellor | Adrienne E Clarke | Ex-Officio |
| C Vice-Chancellor | Professor John Dewar | Ex-Officio |
| D Chair, Academic Board | Professor Simon Crowe | Ex-Officio |
| In addition, Council may appoint up to two members to Category E | ||
| E Up to two external members, who are not members of Council, with appropriate expertise in finance, business or commerce on the recommendation of the Chancellor in consultation with the Vice-Chancellor. | Vacant | Ex-Officio |
In attendance
| Composition | Member | Appointment status |
|---|---|---|
| A Senior Deputy Vice-Chancellor and Vice-President | Professor John Dewar | In attendance |
| B Deputy Vice-Chancellor and Vice-President (Research) | Professor Tim Brown | In attendance |
| C Vice-President (Operations) / Chief Operating Officer | Mr David Ensor | In attendance |
| D Vice-President (Finance & Resources) / Chief Financial Officer | Mr Pranay Lodhiya | In attendance |
| E Director, Corporate Planning and Reporting | Mrs Tanya O'Reilly | In attendance |
Terms of office
A Members in Category A are appointed by the Council on the recommendation of the Chancellor in consultation with the Vice-Chancellor and President for a period of three years or until the expiry of their membership of Council (whichever is shorter).
E Appointed by the Council on the recommendation of the Chancellor in consultation with the Vice-Chancellor and President, for a period of three years.
In addition, all members of Council are welcome to attend any meeting of the Committee.
Terms of reference
1. To recommend to Council financial policies, including investment policies.
2. To recommend to Council procedures for implementing approved financial and investment policies and to report to Council on compliance with these.
3. The power to make policies in relation to matters falling within the terms of reference of this Committee subject to the requirement that the Chair refer policies which he or she considers have a significant financial or reputation risk to the University to Council for formal approval.
4. To receive reports and advice from its sub-committees, the Investment Portfolio Sub Committee
5. To recommend to Council for approval budgets for all areas of the University including auxiliary bodies.
6. To recommend to Council proposals for financial commitments which are outside approved budgets and proposals for the commitment of unallocated funds.
7. To report to Council on the progressive performance of account areas against their approved budgets.
8. To consider business cases presented by the Infrastructure and Estate Planning Committee and to track the financial performance of major projects.
9. To recommend and update annually a capital management plan for the approval of Council.
10. To recommend to Council for approval all contracts in excess of $5M .
11. To approve appropriate levels of delegated financial authority for officers of the University on the recommendation of the Vice-Chancellor.
Reporting
The Finance and Resources Committee will report to Council after each meeting
Quorum
The Chair or the Deputy Chair and one other member under category A above; the Vice-Chancellor or, when appropriate, Acting Vice-Chancellor; and one other member.
Frequency of meetings
Monthly.
List of any sub-committees
- Investment Portfolio Sub-Committee
Secretariat
Governance Services.
Contact person
Loretta Gioffre
Executive Officer, Governance Services
Tel: 03 9479 5144
Email: l.gioffre@latrobe.edu.au or frc@latrobe.edu.au
Prior approval references
(Minute ref. 282.2.1, 236.3.9, CEC min ref 288.2.3; Council Minute 335.3.2 of C01/73(M) - 3.12.01; C02/13, 27.2.02; CEC 15.5.02; CE02/70, 7.8.02; CEC Min. 260.3.37, 21.5.03; C03/74(M) – 2.12.03; CEC 18.2.04; CEC CE05/07-16.02.05, Minute 268.3.2; FRC06/183(M), Minute 77.8.2: 14.08.06; CEC05/02/07); Council Minute 384.7.2 of C08/85(M) – 6.10.08; C 04.05.09; C09/150, 14.12.09, Minute 395.12; C13.02.10; C11.10.10, Minute 403.17.1; Council Meeting 20 June 2011, Minute 408.8, FRC Mtg #129-FRC12/01(M), 129.8; Council Meeting, 22 April 2012, Minute 416.7.
