The Resource Management Committee (RMC) is a sub-committee of the Planning and Resources Committee (PRC). The RMC is responsible for the development of Enhanced Financial Transparency (EFT) with the objective to facilitate understanding and accessibility of the University's financial information to senior management. In addition, the RMC has oversight of the University's annual TRAC (Transparent Approach to Costing) Return, taking decisions with regard to the build of the University's TRAC model and recommending the statutory TRAC Return for Institutional approval.
RMC and PRC propose the budget parameters, which are approved by the Finance Committee. RMC then constructs the budget for PRC approval. The budget then goes to Council with advice from the Finance Committee, prior to being Graced.
RMC history and terms of reference:
The RMC produces a Membership and Terms of Reference document that is updated annually. The document provides information on the history and development of the Committee, outlining its core duties and responsibilities. The current version of the document is available from the links on the right of this page.
RMC Sub-committees:
1. Financial Sustainability/Transparent Approach to Costing (TRAC) Group
The FS/TRAC Group has a wide remit
that encompasses both the
development of the Enhanced
Financial Transparency (EFT) project, which aims to
provide University staff with
access to comprehensive and easier to understand
financial information, as well as
responsibility for the oversight and decision making
to support the compilation and
approval of the statutory TRAC return, which provides a sector wide analysis of activity
costing.
2. Procurement Strategy Group
The Procurement Strategy Group (PSG) also reports to the RMC. It is an advisory officer group that contributes to the formulation and dissemination of the University procurement strategy and good governance. It promotes and encourages good practice in procurement and purchasing, acting as critical friend on behalf of the University.
Submission of papers:
Please provide the RMC secretariat with as much notice as possible of upcoming papers. Papers are required to be submitted 10 working days before a meeting to allow for sufficient time for the RMC Officers to review and address any queries that may arise. Templates for papers and their cover sheet are provided on this webpage.