As we knew in March 2015 when we introduced the AoC Code of Good Governance for English Colleges (AoC Code), from time to time the AoC Code would need to be amended, to respond to the development of the sector and the wider context in which colleges work. We have amended the AoC Code at Section 9 Good Governance, Remuneration of Senior Post Holders (9.9 and 9.10) which introduces a Colleges Senior Post Holder Remuneration Code (Remuneration Code).
Whilst every indication is that Senior Post Holder pay is well controlled in colleges and that governors are making decisions in appropriate ways, in the light of Office for Students (OfS) registration requirements, new regulatory regimes, considerable political debate and media coverage (predominately around Vice-Chancellor’s pay), and consultation with members through October and November 2018, we are introducing this amendment to the AoC Code. We strive to continually strengthen college governance and have introduced this amendment in order that governors can use this guidance to be more confident and clearer in the decision-making process.
In May 2018 AoC Governors’ Council formed a working group to develop an amendment to the AoC Code to include the Remuneration Code. The amendment to the AoC Code is a voluntary initiative which boards are encouraged to adopt. The aim of the group was to help governing boards meet and exceed basic governance requirements, demonstrating that the sector has robust arrangements to govern and manage their own affairs. As autonomous bodies it will be for individual colleges to take forward this amendment to the AoC Code as they see fit. This is a Remuneration Code for colleges, developed by AoC Governors' Council.
The Colleges Senior Post Holder Remuneration Code aligns with, equates to and largely originates from the CUC Code, May 2018. We formally thank and acknowledge the contribution of the Committee of University Chairs to the development of the AoC Remuneration Code.