Statement of Accounts 2020 / 21
Legal Status of the University
Keele University is an independent corporation and is the successor to the University College of North Staffordshire , founded in 1949 . The University derives its legal status from the Royal Charter granted in 1962 ( as subsequently amended ) and the status of its degrees is recognised by the University of Keele Act 1962 . Like many English universities , the University is a charity exempt from registration with the Charity Commission and the Office for Students ( OfS ) is the principal charity regulator for the University . This means that members of the Council have the responsibilities of charity trustees in relation to ensuring the institution ’ s work is for the public benefit and that it complies with Charity Commission expectations . An internal review of the University ’ s compliance with charity law requirements in 2021 resulted in the Council being provided with a high level of assurance .
How the University is governed
The University is committed to exhibiting best practice in all aspects of corporate governance . The University , like other public bodies , has a duty to conduct its affairs in a responsible and transparent way and to take into account the requirements of its funding bodies and the Higher Education Code of Governance published by the Committee of University Chairs ( CUC ). The University also conducts its business in accordance with the seven principles identified by the Committee on Standards in Public Life ( selflessness , integrity , objectivity , accountability , openness , honesty and leadership ). The CUC Code was revised and published in September 2020 and the University is fully compliant . The CUC published a Higher Education Audit Committees Code of Practice in May 2020 , which identified the key principles and elements that form an effective Audit Committee . The Council has formally adopted the Code . The University is also committed to the principles of academic freedom and equality of opportunity in its approach to governance .
The University has a responsibility to ensure that slavery and human trafficking are not taking place in our business or in our supply chains . Our Modern Slavery and Human Trafficking Statement can be accessed on our website at : keele . ac . uk / modern-slavery
In line with CUC guidance and sector best practice , the University commissions reviews of Council effectiveness at least every four years , the last one being during the 2017 / 18 financial year , which was undertaken by the Leadership Foundation for Higher Education . The review concluded that the Council and governance generally was sector leading in a number of areas , for example , board culture , the streamlined and effective approach to decision-making , secretariat support , the Chairing of meetings , briefings on the wider HE policy landscape and a shared commitment and endeavour from members and the executive to ongoing improvements in University governance . The next quadrennial review is due in 2021 / 22 .
The University operates a continuous approach to reviewing the effectiveness of the Council in order to ensure that it maintains its position as an exemplar of good governance . All members of the Council are individually appraised each year and the Chair has a 360 degree review . Each committee reviews its terms of reference on an annual basis to ensure they remain fit for purpose , that the committee has fulfilled its remit , that it has had due regard for the promotion of equality and diversity and that the membership of the committee is appropriate given its responsibilities .
The University ’ s Corporate Governance Framework
The University ’ s powers and framework of governance are set out in the Charter , its supporting Statutes , Ordinances and Regulations . These currently require the University to have two separate bodies , each with clearly defined functions and responsibilities , to oversee and manage its activities , as follows :
The Council is the supreme governing body , responsible for the finance , property , investments and general business of the University , and for setting the general strategic direction of the institution . Council members are sometimes referred to as the Trustees of the University . The Council has a majority of members from outside the University ( described as lay members ), from whom it ’ s Chair and Deputy Chairs must be drawn . Members also include representatives of the University ’ s academic and support staff and student body . For a full list of Council members who have served during the last year see the first page of this report .
The Senate is the academic authority of the University and draws its membership entirely from the academic and academic related staff and the students of the institution . Its role is to regulate and superintend the education , welfare and discipline of students and the promotion of learning and research . The Vice-Chancellor is the Chair of the Senate . A light-touch review of its effectiveness was also undertaken during 2017 / 18 , alongside the review of Council and the next review will take place in 2021 / 22 .
The principal academic and administrative officer of the University is the Vice- Chancellor , who has a general responsibility to the Council for maintaining and promoting the efficiency and good order of the University . Under the terms of the OfS Regulatory Framework for Higher Education in England , the Vice-Chancellor is the Accountable Officer of the University .
The Council has a number of committees , which undertake a lot of the detailed scrutiny on behalf of the Council and their decisions are reported back to the Council and , where relevant , the Senate . All committees are formally constituted with written terms of reference and have majority lay member representation .
The University has two executive committees with responsibility for Health & Safety and Equality , Diversity & Inclusion , which have lay representation from the Council .
The Council and the Senate hold a joint meeting each year to discuss matters of common interest , and this is just one example of the numerous initiatives to aid the Council ’ s understanding of the academic governance of the University .
The Council approved a new University Strategy ‘ Our Future ’ in May 2019 , which is articulated through five strands : Purpose , Performance , People , Place and Partnerships . A new set of key performance indicators were developed , and a comprehensive review of the Corporate Risk Register was subsequently undertaken in line with the new Strategy . Performance is reviewed at each meeting of Council and the Corporate Risk Register is reviewed at each meeting of the Audit & Risk Committee and subsequently Council .
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