The Governing Body established several committees, formally constituted with terms of reference in accordance with delegated powers. These committees comprise mainly of Independent Governors, one of whom is Chair.
Meets at least three times a year with External and Internal Auditors to discuss audit findings, consider detailed internal auditor reports and recommendations for the improvement of Central’s systems of internal control, together with management’s response and implementation plans. It also receives and considers reports from the Higher Education Funding Council for England as they affect institutional business, and monitors adherence with the regulatory requirements. It reviews the institution’s annual financial statements, together with accounting policies, and keeps under review the effectiveness of health and safety management, risk management, control and governance, and value for money arrangements.
Considers and recommends to the Governing Body financial strategy and the annual revenue and capital budgets; monitors performance in relation to the approved budgets; and reviews the management of significant risks. Meets at least four times a year.
Considers codes and policies in relation to staff members and makes recommendations to the Governing Body on the Framework for the Pay and Conditions of Staff. Meets at least twice a year.
Provides assurance to the Governing Body in relation to the effective promotion and progression of equality, diversity, participation and inclusion across the institution.
Determines the annual remuneration of senior postholders. Meets at least once a year.
Keeps under review the balance of skills and experience needs of the Governing Body, prepares written descriptions of the role and capabilities required for new members, considers arrangements for the identification and selection of new members and makes recommendations for appointments to the Governing Body. Meets at least twice a year.
Reviews institutionally significant external activity and partnerships in relation to effective control and due diligence; and provides assurance in respect of financial sustainability and resourcing for major projects and initiatives.