Senate Committees & Working Parties

Resources Committee

* Denotes a person who is not a current member of Senate

Terms of Reference

The Resources Committee is a standing committee of Senate established in accordance with sections 12(3) and 18(1) of the Murdoch University Act 1973. The committee operates in accordance with the Principles for Senate Standing Committees and conducts its business in accordance with the Senate Standing Orders.

1.	Role
	1.1	Financial Sustainability
		a.	To review long term financial plans and forecasts, the sensitivity of various factors, and highlight any emerging issues that need to be addressed in the short to medium term.
		b.	Towards the end of each year, or at any stage deemed necessary, consider a draft budget of expenditure for the ensuing year presented by the Vice Chancellor, and recommend a budget to the Senate for approval, together with a statement of expected revenue.
		c.	Consider quarterly financial statements (including statements of income and expenditure) and forward these to Senate with a report on the general financial situation of the University, drawing attention to any significant variations from the budget.
		d.	Monitor the impact of significant change initiatives on the University’s financial performance and projections.
		e.	Recommend to the Senate on any proposed variations in the annual budget.
		f.	Recommend to the Senate on any matter relating to the borrowing of money by the University.
	1.2	Financial Control
		a.	Approve expenditure, above $2M and below $5M in accordance with the delegations policy.
		b.	Approve expenditure, above $1M and below $5M which is out of budget or not supported by other unbudgeted sources of funds.
		c.	Note the payment of accounts which are of a value above $500,000, subject to the order/payment falling within budget allocations.
		d.	Recommend to the Senate on all approvals of write-offs of funds owing to the University.
		e.	Approve the signatories to the University bank accounts.
	1.3	Investment Capability
		a.	Oversee the development of the University’s key strategy of building ‘wealth’ to support the University’s long term educational goals.
		b.	Oversee the investment of all monies of the University (including monies held in trust).
		c.	Exercise oversight of the finances of all University trusts and foundations.
	1.4	Campus Development
		a.	Advise and make recommendations to the Senate on matters relating to the development, conservation, use and improvement of the University's real property and, in particular, on the following:
			(i)	Approve the principles underpinning all campus development.
			(ii)	revisions to the approved Master Plan for the use of University lands;
			(iii)	proposals for the construction of new buildings and other capital projects, including the construction of road works and car parking facilities, and on the budgets and timetables for such projects.
		b.	Review progress against plan for all major campus projects.
		c.	Review maintenance approach and budget.
	1.5	Commercial Activities
		a.	Recommend to Senate on the establishment and disestablishment of University incorporated entities.
		b.	Exercise oversight of the finances of all University incorporated entities, including a review of at least quarterly reports against the business plan and the annual audited financial statements.
		c.	Overview the performance of all major commercial activities.
	1.6	Guild Performance
		a.	Exercise oversight of the finances of the Guild of Students, recognising the Committee can only provide advice, and not manage or control, the Guild’s activities.
	1.7	Other Matters
		a.	Consider any other matter related to the resources of the University referred by the Senate or by the Vice Chancellor.
2.	Membership and Composition
	2.1	Up to 6 Senators
	2.2	Vice Chancellor
	2.3	Up to two co-opted external members
3.	Committee Skills Mix
	A broad mix of the following skills and experience is required:
	3.1	Strong financial acumen
	3.2	Seasoned judgement
		a.	Knowledge of university funding issues
		b.	Expertise in the property market
		c.	Extensive high level business experience – shaping strategy, driving implementation.
		d.	Sensitivity to the interests of all stakeholders on campus.
4.	Terms of Office
	Members are appointed for a term of up to 3 years.
5.	Standing Observers
	Chief Financial Officer
	Director, Commercial Services
	General Counsel
6.	Secretary
	University Secretary
7.	Meetings
	The Committee meets at least 5 times a year.
8.	Quorum
	The quorum is four members.