12.1. The Strategic Capital Steering Group shall consist of:
(1) the Pro-Vice-Chancellor (Planning and Resources) who shall chair the Group;
(2)–(5) the heads of each of the divisions;
(6) the Pro-Vice-Chancellor (Education);
(7) the Pro-Vice-Chancellor (Research);
(8) the Pro-Vice-Chancellor (People and Gardens, Libraries and Museums);
(9),(10) two external members appointed by Council, not being members of the Audit and Scrutiny Committee;
(11) the Director of Finance; and
(12) one of the Proctors or the Assessor as may be agreed between them.
12.2. The Strategic Capital Steering Group shall:
(1) develop a long-term strategic capital investment plan for submission to the Finance Committee;
(2) consider the use of any capital resources which are not delegated or allocated to the academic divisions, services, or other bodies (whether trust funds, University reserves, unearmarked benefactions, capital funds or reserves of any other description), and recommend to the Finance Committee major new initiatives regarding such use;
(3) in accordance with the allocation limits set out in Statute XVI and the Financial Regulations:
(i) submit recommendations to the Finance Committee for expenditure on strategic investments in the University’s physical estate, and other academic resources (other than centrally run IT projects) and any associated space allocations that require the approval of Council;
(ii) approve expenditure on developing proposals for strategic investments in the University’s physical estate and other academic resources (other than centrally run IT projects) that does not require the approval of Council;
(4) liaise with PRAC to ensure that the proposals for strategic capital investment are compatible with the rolling capital programme;
(5) ensure that business cases for projects being considered by the Group have been appropriately prepared, signed by the appropriate officers of the University in accordance with the Financial Regulations and are consistent with the University’s priorities and plans; and
(6) oversee the financial management of the design of projects submitted in accordance with these regulations, including the gateway approval process, and obtain approval from the Finance Committee for expenditure on gateways 1 and 2 prior to that committee’s release of full project funding.
(7) establish and oversee programme boards with responsibility for the development of specifc sites for the functional estate;
(8) make recommendations to Finance Committee with regard to:
(i) proposed functional estate projects that should be submitted to Oxford University Property Development (OUPD) for consideration;
(ii) development proposals for the functional estate put forward by OUPD;
(ii) the purchase of additional land for development.