Value for Money Group
Terms of Reference:
| (a) | To consider initiatives within Schools and Directorates to imrpvoe VFM, including benefits achieved. | |
| (b) | To consider relevant information from within the sector and from similar institutions to compare procedures, practices and costs and thereby assess opportunities to improve VFM. | |
| (c) |
To identify the development mechanism and reporting requirements for any new initiatives. |
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| (d) | To prepare an annual report for consideration by the UON and for onward transmission to the Audit Committee. |
| Composition | ||
| Chair: | Director of Finance | |
| Ex Officio: |
Deputy Director of Finance |
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| In attendance: |
Representatives of the Internal and External Auditors |
| Serviced by: | Finance Directorate | |||
| Reports to: | ||||
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Receives reports from: |
Advisory Groups as appropriate. |
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| Meetings: | Three times a year. | |||

