Committees of the Board generally meet four times a year, reporting to the main Board at the immediately following Board meeting. Committees are comprised of lay members and the Principal. The exception to this arrangement is that the Principal cannot be a member of the Audit Committee. The Chair of the Board is also not a member of the Audit Committee. A lay member of the Board chairs all Committees. Appropriate college officers submit reports to, and attend, Committee meetings as required. The College also has a Remuneration Committee which meets as and when required.
All Committees of the Board have written remits, referred to as Terms of Reference. A synopsis of these remits is given below.
The Remuneration Committee comprising the chairs of each Committee, sets the salaries of the senior management team of the College and reviews nominations for Board and committee membership. This Remuneration Committee meets as necessary throughout the year and is chaired by the Vice Chair of the Board.
The Audit Committee invites the College’s internal and external auditors to its meetings as required. The Committee considers detailed reports together with recommendations for the improvement of the College’s systems of internal controls and management’s responses and implementation plans. It also concerns itself with the monitoring the College’s arrangements for risk management, fraud and irregularity, and value for money.
In addition, it receives and considers reports from the Scottish Funding Council as they affect the College’s business and monitors adherence to the regulatory requirements. Whilst the Chair of the Board and the Principal can attend meetings of the Audit Committee by invitation, they are not members of that Committee. Additionally, membership of the Audit and Finance Committees is mutually exclusive to ensure full objectivity in associated areas of remit.
The College’s audited Report and Financial Statements for the financial year are presented to the Audit Committee, who will consider them and the Management Letter of the external audit providers, and will confirm to the Finance Committee whether they can consider it appropriate to recommend the Statements to the Board for approval.
The Committee, at least once a session, asks the executive, including the principal, to withdraw and the Committee then has the opportunity to have a confidential discussion with both the internal and external auditors.
The Development Committee considers and directs the College’s marketing and commercial strategy and oversees its continuing progression. The Committee also monitors the quality assurance processes across the College.
Finance and Resources Committee
The Finance Committee, inter alia, recommends to the Board the College’s Financial Statements and its annual revenue and capital budgets and monitors performance in relation to these approved budgets.
The Committee also considers procurement arrangements, the strategic management of the College estates and matters of governance, including those matters concerning the Regional Strategic Board.
Human Resources Committee
The Human Resources Committee oversees the appointment of additional members of staff and salary award negotiations. It also considers staff development and matters concerning the terms and conditions of college staff.