Corporate Governance at the University

The Committee shall: 

• Ensure that the University operates effective due diligence around the disbursement of the funds of the Ferguson Bequest, i.e. is in any way likely to foster the social side of University Life, but not necessary or ordinary day-to-day expenditure. 
• Consider any ethical and reputational issues associated with the disbursement 
• Ensure that disbursement will not cause an unacceptable conflict of interest for the University 

The following details the delegated authority for the FBC and shows how it is placed in the overall University Scheme of Delegation.

This is an executive chaired Committee with the following membership: 

• Chief Operating Officer and University Secretary (Chair) 
• Clerk of Senate and Vice Principal 
• Three Representatives of Senate 
• University Services Representative 
• Finance Office Representative (Reporting) 
• People & Organisational Development Representative  
• Ferguson Bequest Administrative Representative (Advisory and Clerk) 

Each Committee member has a responsibility to:

• Ensure all disbursements are in line with university policies and ethical values
• Ensure minimal reputational risk exposure to the University
• Openly and constructively challenge where disbursements do not meet key criteria for regulatory requirements
• Activity and behaviour should embody the University’s values (click here for details)

The meetings will be scheduled normally every six months. 

INPUTS

• Summary of disbursement proposals

OUTPUTS

• Minutes

Substitutions may be made with prior notice given to the clerk. There must be a minimum of 5 in attendance for decisions and approvals. 

The FBC will follow the UofG procedure for the management of any conflicts.  The procedure defines declaration of conflicts as a standard agenda item at the start of the meeting, the maintenance of a register of conflicts, and a process for managing all conflicts which are declared.