Investment Approvals
All investment requests which are above the level of individual delegated authorities must be approved by your local financial governance body:
- for Estates, this is the Capital Projects Steering Group or Estates Committee;
- for Information Services, it is the IT Financial Planning Committee or Information Policy and Strategy Committee;
- for Transformation, it is the Transformation Delivery Board;
- and for Colleges, it is usually the College Management Group or Professional Services Group.
All investment requests should be approved by your local Head of Finance prior to submission to the relevant financial governance body to ensure sufficient funding is available.
Where an investment request involves College Equipment, Estates PMO should be engaged to ensure that the intended location for the equipment is appropriate and that any modifications required to a building can be made.
For most investment requests, no further approvals are required.
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Large investment requests (>£500k), and investment requests seeking funding from the University's Strategic or College Surplus funds, need to be approved by the University's Investment Committee. The Management Accounts team in Finance is available to assist in crafting a benefits case for investment requests which go to Investment Committee.
Very large investment requests (>£3m) also have to be approved by the University's Finance Committee, and if >£25m the University Court too. Prior to submission to Finance Committee, investment requests must be discussed at a meeting of the University's Senior Management Group, either before or after Investment Committee; this stage is optional for smaller investment requests.
Governance at the University provides full details of each committee's remit and membership, and the dates when each committee meets.
This flowchart summarises the approval route for each investment request.
Last updated: February 2023