In order to achieve our aims, effective financial scrutiny is essential. Whilst the Boards of NUS have decision-making powers in relation to Finance, the Finance Committee provide structures, governance and technical input according to the Board’s decisions. The purpose of the committee is to provide good governance and oversight to the group’s finance strategy, performance and activities as well as ensuring that there are effective internal financial controls and processes. 

The Finance Committee:

• Monitors the budget setting and reforecasting process together with the ongoing performance reporting against the budget set. 
• Ensures that the annual financial statements and accounts are prepared correctly and using the appropriate processes including with external auditors.
• Ensures the presence of an appropriate reserves policy and supervises the NUS’s assets and investments
• Reviews any strategies that have finance implications including business plans and advises the boards and management of appropriate courses of action where appropriate.

Membership

Membership of the Finance Committee is drawn from members of the NUS Joint Boards as well as up to four additional members to provide specific expertise.