Model terms of reference for the Remuneration Committee of an academy trust
Of interest to all involved in the governance of academy trusts.
Of interest to all involved in the governance of academy trusts
This guidance note proposes model terms of reference for the remuneration committee of an academy trust or multi-academy trust (MAT) seeking to comply with the requirements of the Department for Education’s (DfE) and the Education and Skills Funding Agency’s (ESFA) guidance and funding arrangements for academy trusts. It is informed by governance standards in other sectors and draws on the experience of academy trust clerks, company secretaries and governance professionals as well as on good practice as carried out in a range of organisational settings, inside and outside the education sector, including in some of the UK’s largest listed companies.
It is necessary, and good practice, to delegate some functions of the academy trust board to committees and individuals who have more time and expertise to dedicate to the function in question. However, this does not mean that responsibility has been delegated, as the board retains oversight and ownership of the function: accountability remains with the academy trust board. In many sectors there are standing committees which support the work of the board, including audit and remuneration committees.
This document includes:
- Notes on the terms of reference
- Model terms of reference
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