Finance & Investment Committee - Terms of Reference

The Finance and Investment Committee is appointed by the DCU Governing Authority. It is a Sub-Committee of the Governing Authority.

The Strategic Finance Advisory Committee shall remain in place for the duration of the Governing Authority’s term. The reappointment of the Committee will be subject to the determination of the new Governing Authority.

3.1 The membership of the Committee shall be appointed by the Governing Authority.

3.2 The Committee shall consist of at least three members, at least two of whom shall be external members of Governing Authority.

3.3 The University’s Chief Financial Officer is an ex-officio member of the committee.

3.4 Up to two members who are external to the University may be appointed.

3.5 In appointing members, consideration shall be given to the skills of the proposed members in relation to the functions of the Committee.

3.6 The Chairperson of the Committee shall be appointed by the Governing Authority and will be an external member of Governing Authority.

3.7 In addition to these terms of reference the Committee may draw up its own working procedures.

4.1 The Committee shall meet as frequently as required but will meet at least three times a year.

5.1 The quorum required for the transaction of business shall consist of at least two members of the Committee including at least one Governing Authority member.

6.1 Any employee or external person relevant to the work of the Committee may attend for all or part of the meetings at the invitation of the Committee.

6.2 The Secretary to Governing Authority shall act as secretary of the Committee with his/her office providing secretarial services.

7.1 The Committee is authorised by the Governing Authority to investigate any activities within its terms of reference and to seek any information it may require from any employee of the University or its subsidiaries.

7.2 All employees are directed to co-operate with any request made by the Committee.

7.3 The Committee is authorised by the Governing Authority to obtain outside legal or other independent professional advice, if it considers this necessary.

The overall objectives of the Committee are to:

● assist and advise management in putting in place optimal funding structures to provide the financial resources necessary to support the achievement of the University’s Strategic Plan.

● review the annual budget of the University before recommending it for approval to the Governing Authority

● receive periodic updates from the Director of Finance on the operational budget of the University to ensure the University finances are managed in a prudent manner

● to review proposed changes to University students fees

● provide assistance and advice to management in relation to the development and structure of the capital funding strategy and long-term loan finance

● advise management on individual capital funding proposals before submission to the Governing Authority

● assist and advise management on an ongoing basis to ensure that the capital funding plan continues to meet the requirements of the University.

9.1 The Committee will report after each meeting on its activities to the Governing Authority with Minutes of each meeting forwarded to the Governing Authority for Noting at its next meeting.

9.2 The Committee shall report at least annually on its activities to the Governing Authority.

9.3 The Committee shall arrange for the periodic review of its terms of reference and shall report any changes necessary to the Governing Authority.