Planning and Finance Committee

Terms of Reference

Authority   

Under the terms of the EMBL Australia Deed of Agreement, the EMBL Australia Council may form subcommittees and advisory groups as required from time to time to make non‐binding recommendations to the EMBL Australia Council (Clause 4.2)

Purpose   

The primary function of the Planning and Finance Committee (PFC) of EMBL Australia Council is to assist the Council in fulfilling its planning and financial responsibilities for the EMBL Australia initiative. The PFC shall:

• consider any matters relating to the financial affairs that it determines to be desirable
• be responsible for the annual strategic planning process, and
• examine any other matters referred to it by the Council.      

Duties

The duties of the PFC are:      

Financial Control and Reporting

• Ensure adequate financial management systems and processes are in place and any Government   requirements are met.
• Regularly examine financial statements, which show current cash flow as well as comparison of actual   performance to budget on a monthly and year to date basis.
• Examine the annual report before submission to the Council, focusing particularly on:
  • any changes in accounting policies and practices;
  • major judgemental areas;
  • significant adjustments resulting from the audit;
  • compliance with accounting standards;
  • compliance with Government and legal requirements;
  • Recommend to Council the acceptance of annual reports and the audited accounts each year.      

Planning

• Propose the annual business plan including setting annual objectives and targets in discussion with the Scientific Director in preparation for their submission to the Council for approval and receive quarterly progress reports relating thereto.
• Review on a regular basis progress against agreed objectives and targets after discussion with the Scientific  Director.

Reporting Arrangements

• The Chairman of the PFC should present a verbal summary report of the Committee’s deliberations drawing significant items to Council’s attention at its next full meeting. The minutes of the PFC meetings will be formally recorded and submitted to the Council for noting in a timely manner.
• The PFC will make reports and recommendations to the Council on matters within its terms of reference as it shall think fit.      

Members

The Planning and Finance Committee members are:

Professor Steve Wesselingh (Chair)	Dean Faculty of Medicine, Nursing & Health Sciences	Monash University
Professor Nadia Rosenthal	Scientific Head	EMBL Australia
Ms Janet Kemp	Faculty Director Faculty of Medicine, Nursing and Health Sciences	Monash University
Dr Campbell Thomson	Director Development and Research Services	The University of Western Australia
Professor Robyn Overall	Professor Plant Cell Biology Head of the School of Biological Sciences	The University of Sydney
Mr Silvio Tiziani	Executive Director	EMBL Australia
Observers
Ms Liz Jazwinska	Executive Director Biological Sciences and Biotechnology	ARC
Mr Tony Rothnie	Manager Bioscience Research Infrastructure Branch	DIISR