Members of the University’s Board of Governors are the Charity Trustees and are responsible for ensuring compliance with charity legislation. The University’s Trustees/Governors have regard to and comply with the Charity Commission’s general and supplementary guidance on the public benefit in exercising their powers and duties.
APPROACH TO CORPORATE GOVERNANCE
The University’s framework of governance is established in the Instrument and Articles of Government. In order to operate more transparently and efficiently, the Board adopted revised Instrument and Articles of Government, from August 2021, in light of ‘model’ changes recommended by a national working group exploring HEC governing instruments reform. The Instrument and Articles of Government are supplemented by a set of internal regulations that lay out internal rules and procedures for certain decisions. These Regulations are subject to regular review and updating.
BOARD OF GOVERNORS
The Trustees of the exempt charity, Middlesex University, are the members of its Board of Governors. The membership of the Board of Governors is set out on page 88. It is the Board’s responsibility to bring independent judgement to bear on issues of strategy, risk, performance, resources and standards of conduct.
The Board has a duty to enable Middlesex University to develop its Vision and Strategy and achieve success in meeting its objectives for education, research and enterprise. In doing this, it seeks at all times to safeguard the good name and values of the institution.
The Board has formal decision-making responsibility in a number of key areas, including the approval of the University’s Strategy (last approved in June 2021) and other major strategic policies which sit underneath this or for which it has a legal responsibility to oversee. Other major tasks crucial to the success and sustainability of the University are the appointment and performance management of the Vice-Chancellor and other senior post holders, adoption of its annual Financial Statements, budgets, financial forecasts and the appointment of the University’s internal and external auditors.
The Board’s regulatory and stewardship responsibilities centre on its role as Middlesex University’s ultimate legal authority and for safeguarding the University’s assets and its financial sustainability, and receiving assurance that its systems comply with the University’s legal and regulatory obligations, including as an exempt charity, and of the OfS.
The Board of Governors comprises a majority of members from outside the University, from whom the Chair and Deputy Chair position are drawn, together with the Vice-Chancellor and members of the staff and student bodies.
In meeting the OfS requirements, the University has demonstrated that it meets the public interest governance principles. The Board delegates a number of its responsibilities in several ways:
— ensuring that the Vice-Chancellor effectively leads the academic and executive management of the University. The University Executive Team (UET) is the University’s senior leadership team, comprising individuals with academic and professional support portfolios. The role of the University Executive Team is to advise the Vice-Chancellor who is responsible for strategic and operational management
— its Committees: The Board has a number of standing committees with responsibility for Finance and Infrastructure, Audit and Risk, Governance, Nominations and People, and Remuneration. The Academic Board, chaired by the Vice-Chancellor, makes reports to the Board of Governors.
These committees are chaired by, and their membership made up primarily from, the independent members of the Board.
These Committees meet regularly and have clearly defined, delegated responsibilities. All of the Board’s Committees regularly report to the Board, making recommendations as appropriate. In addition, the Audit and Risk Committee produces an annual report for the Board of Governors.
Students and staff are represented on the Board of Governors. Members of the University Executive Team attend all Board meetings, and Committee meetings as required.
The University is committed to the principles of academic freedom and equality of opportunity. The University also has a Code of Practice on Freedom of Speech to help ensure that freedom of speech within the law is secured. The Board has agreed a Policy on Public Interest Disclosure, which is published on the University’s website.
The University maintains a register of interest of members of the Board of Governors and senior officers which is available for inspection on request to the Clerk to the Board of Governors.
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Financial Statements 2020/21
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