Finance Committee — Terms of Reference

Purpose and Authority

The purpose of this committee is to:

Recommend to the Dean allocation of financial resources in support of the Faculty’s mission and priorities.
Provide advice and recommendations to the Dean and Managing Director regarding the Faculty of Medicine’s finance function as a whole.

Composition

This committee is made up of ex officio, elected, and appointed members.

The Faculty of Medicine’s commitment to equitable and diverse membership on its committees and advisory councils guides its nomination and selection process.

Voting Members

Ex officio

Dean, Faculty of Medicine (chair) (1)
Vice Dean, Academic (1)
Managing Director (1)
Senior Director, Finance (1)
Director, Human Resources (1)
Executive Associate Dean, Education or delegate (1)
Executive Associate Dean, Research or delegate (1)

Elected

Three Department Heads/School Directors (3)
One Faculty- or Senate-approved Centre/Institute Directors (1)
One UGME program student (1)
One Health Professions program student (1)

Appointed

Two Department Heads/School Directors (2)
One departmental senior administrator (1)
One Regional Associate Dean (1)

Guests may be invited to join specific meetings or portions of specific meetings at the chair’s discretion.

Appointment Process

Ex officio members are members by virtue of their administrative appointment.

Appointed members are appointed by the Dean through the annual process initiated by the Dean’s Office.

Elected members are elected by their peers through the annual process initiated by the Dean’s Office.

In exceptional circumstances, the Dean may approve extension of term appointments for up to one additional year.

Term

Ex officio members are members as long as they hold their administrative appointment.

Elected students are members for a one-year term and are eligible for one renewal.

Other elected members are members for a three-year term and are eligible for one renewal.

Appointed members are members for a three-year term and are eligible for one renewal.

Chair

This committee is chaired by the Dean, Faculty of Medicine.

Meeting Schedule and Administration

Typically meets 6-8 times per year and at the call of the chair.

All members are expected to attend all meetings in person or via videoconference or phone.

A staff member from the Finance group will capture meeting minutes. Minutes will be circulated to all members.

Minutes, notes, and discussion of all meetings are confidential.

Records will be maintained in accordance with UBC and Faculty of Medicine records retention procedures.

Quorum and Decision Making Process

Quorum consists of 50% plus one of members.

Decisions are typically made by consensus. When consensus does not emerge, decisions will be made by vote, requiring 50% plus one of members present to pass.

Lines of Accountability and Communication

This committee:

Reports to the Dean.
Makes recommendations to the Dean and/or the Managing Director, as appropriate.
Provides an annual report summarizing the year’s activities to the Faculty Executive Committee, for information.
Seeks input from the Department Heads and School Directors Committee before presenting recommendations to the Dean, as appropriate.
May delegate responsibilities to subcommittees and/or ad hoc groups to make recommendations on, or conduct, specific aspects of the committee’s mandate.

Representatives of this committee liaise with other academic and administrative committees and advisory councils, as needed.

Responsibilities