Three committees advise on matters defined by their terms of reference: the Finance Committee; the Risk and Audit Committee; and the Nominations and Salaries Committee. The minutes of the Finance Committee and the Risk and Audit Committee are made available to the Group Board. The Chair of the Risk and Audit Committee reports to the Group Board twice a year.
The Finance Committee’s purpose is to:
- ensure that the charitable company properly plans the use of its finances and is adequately funded to undertake projected expenditure;
- review and recommend the annual budgets for approval by the board;
- monitor financial performance against agreed budgets;
- ensure, with the Risk and Audit Committee, that the charitable company's financial statements are supported accurately by management accounts; and
- monitor and review the charitable company's arrangements in relation to investments and make recommendations to the board in relation to the appointment and removal of investment advisors.
The Chair of the Finance Committee is Sir Anthony Greener.
The Risk and Audit Committee’s purpose is to:
- create and ensure implementation of a risk management framework for the Group and to oversee disaster recovery;
- ensure the charitable company's annual financial statements are supported accurately by management accounts and other financial reports presented to them by all schools and academies;
- ensure effective audit functions are in place (both external and internal);
- ensure adequate risk management processes are in place; and
- ensure an adequate internal control environment is established.
The Chair of the Risk and Audit Committee is Professor Colin Coulson-Thomas.
The Group Nominations and Salaries Committee’s purpose is to:
- oversee the appointments of the Group Chairman, Trustees and Senior Executives;
- decide senior salaries and remuneration in line with the Group Board policy guidelines;
- reviews the terms of office, skills and attributes of Trustees of the Board;
- identify any key skill gaps that should be addressed when recruiting Trustees;
- recruit new Trustees and make recommendations of appointment to the Board; and
- strive to ensure the Board composition is diverse particularly in terms of gender and ethnicity.
The Chair of the Nominations and salaries Committee is Mr Richard Greenhalgh.
Details of Trustee appointments, attendance at meetings and business interests can be viewed here.