Finance, Remuneration and Asset Management Committee

 FRAMC Meeting Schedule 2025/2026 

Please note these meeting dates and times are subject to change

FRAMC Submission Form

Terms of reference of Finance, Remuneration and Asset Management Committee:

Purpose

In accordance with Section 13 of Chapter 5 of the Governing Statute, it shall be the duty of the Finance, Remuneration and Asset Management Committee (FRAMC) to supervise the financial affairs of the University and to advise the Governing Authority on any matter relating to the financial management of the University. 

Duties

5.1. It shall be the duty of FRAMC to supervise the financial affairs of the University and to advise the Governing Authority on any matter relating to the financial management of the University, including: 
i) Advising the Governing Authority on the resources available to the University in relation to the establishment and implementation of the University’s strategic plan; 
ii) Reviewing the annual budget and all financial goals and objectives for approval by the Governing Authority; 
iii) Monitoring performance in relation to income and expenditure against the operating budget and whether the University is operating within its financial resources; 
iv) Overseeing the safeguarding of the organisation’s assets;
v) Overseeing and approving where appropriate any debt-raising and cash management activities; and 
vi) Reviewing strategic financial policies. 

5.2. It shall be the duty of the FRAMC to monitor the impact of national pay and pension agreements and policies on the University’s Strategic Plan and finances. 

5.3. It shall be the duty of FRAMC to consider the proposed acquisition, development, refurbishment, capital expenditure, investment, sale, other disposal or commercial exploitation of any asset, project, land or property by or of the University or its subsidiaries or joint ventures, and, if thought appropriate, to approve or recommend such proposals to the Governing Authority in accordance with its delegated authority. 

5.4. It shall be the duty of FRAMC to monitor the performance of any companies under the control of the University and any joint ventures, recommend that the Governing Authority take specific action in relation to any such company or joint venture, and to review and, if thought appropriate, recommend to the Governing Authority, any management proposal for the establishment of a new company. 

FRAMC Terms of Reference (PDF)