Finance and Services Standing Committee - Reports

Report from the Finance and Services Standing Committee meeting of 30 January 2024.

The Finance and Services Standing Committee met on 30 January 2024, to hear a presentation from the Director of Finance, Mr Lee Hamill, on the University's Annual Report and Accounts to 31 July 2023 (the 'Report').

Mr Hamill took the Committee through the key sections of the Report, which was structured in the same way as in the previous years. The Report identified the following issues as the key material issues for the University; macro-economic pressures, industrial action and pensions, political and geopolitical uncertainty, the student experience, digital security, and climate change. Mr Hamill highlighted, among other things, the fact that EBIDTA (as the key financial metric used to measure the University's underlying financial performance) was 10.7% of income; that capital expenditure has been maintained and is funded through donations, borrowing and University generated surplus income; that following the latest triennial revaluation of the University Superannuation Scheme, employee contributions have been reduced; that the core IT infrastructure is now position as a priority high risk. The discussion with Mr Hamill also covered questions of student satisfaction, the latest position on the implementation of the People and Money system, and the staff pay.

The convener thanked Mr Hamill for his meaningful engagement with the Committee.

Almira Delibegovic-Broome KC

Convener

Finance and Services Standing Committee