Decisions over financial matters
Fees and student payments
The Finance Committee, overseen by the Council:
- approves finance policies
- approves or alters non-regulated tuition fees
- writes off non-student bad debt between £50,000 and £250,000
The Finance Committee also makes decisions on deferring student payments or making payments in instalments.
The point of contact for all these finance decisions is the Finance, Planning and Analytics department.
The Student Recruitment Management Group provides information to inform fee setting. The Planning and Resource Group then approves this, before the Finance Committee considers it.
Debt
The Manager of Student Fees and Credit Control writes off bad debt related to tuition fees up to £3,000, overseen by the Council.
The Executive Director Finance and Planning, or Director of Finance (Operations) writes off
tuition fee and non-student bad debt up to £50,000, overseen by the Council.
The Treasurer writes off tuition fee bad debt above £50,000, overseen by the Council.
The point of contact for any bad debt decisions is the Finance, Planning and Analytics department.
Procurement
The Executive Director of Finance and Planning procures goods and services, overseen by the Council and following the financial policies and regulations the Council sets.
The point of contact's the Head of Procurement.
Other finance decisions
The Executive Director of Finance and Planning is responsible for keeping proper accounting records, overseen by the Council.
The Audit and Risk Committee engages external auditors for non-audit services.
The point of contact for these 2 types of finance decisions is the Finance, Planning and Analytics department.
Accepting gifts
- The Director of Development and Alumni Relations considers whether to accept gifts up to £99,999, overseen by the Council. They must report to the Finance Committee each year on all gifts of £10,000 or more.
- The Gift Acceptance and Naming Committee decides whether to accept gifts between £100,000 and £999,999, overseen by the Council.
- The Finance Committee decides whether to accept gifts between £1m and £9.9m.
The point of contact on accepting gifts is the Office of Development and Alumni Relations.