The Finance Committee is a standing committee of the Council tasked with advising it on the management of the University's assets, including real property, moneys, securities, investments, income and expenditure.
The make-up of the Committee is prescribed under Statute A IV 8 and Special Ordinance A (iv), and includes the Vice-Chancellor (or deputy) as Chair and members of the Council, General Board, Regent House and representatives of the Colleges. It also has the option to co-opt up to three people as members.
As a committee of the Council, the Finance Committee reports to the Council on a number of matters for which it has primary responsibility. The Finance Committee is therefore directly involved in the following:
- ensuring the University's accountability for the proper use of public funds
- supervising the financial position of the University
- business concerning the University estate and buildings
- financial supervision of the Cambridge University Press & Assessment, and other University-owned companies and bodies, e.g. some trusts
In March 2004, the Council published a consultative Report that included consideration of the responsibilities of the Finance Committee and how it fits in with the other central administrative functions (with particular reference to the Planning and Resources Committee and the establishment of the Buildings Committee). The Report is available on the
Reporter website here:
http://www.admin.cam.ac.uk/reporter/2003-04/weekly/5955/11.html. The
Ordinance on Financial Matters also provides additional information.