An annual timetable of meetings for the governing body and its committees should be formally approved by the governing body well in advance of each academic year, and once agreed should not be changed without good reason and adequate notice. Thought should be given to the location of the meetings as it may be beneficial to hold meetings on different sites so that members become familiar with the institution’s facilities.
For those institutions which adopt the four meetings pattern, an early autumn meeting is usual and enables a board to monitor that student recruitment is on track, and therefore that a key income source meets projections. The early autumn meeting is also a good opportunity to review the previous academic year (for example, receiving from the academic board or senate an annual report on academic issues), and in addition to look forward to the year ahead and identify key issues.
At a late autumn or early winter meeting (often in December) the previous year’s annual accounts can be approved (on the advice of the external auditors and the board’s finance and audit committees). These accounts will now include a corporate governance statement confirming that proper account has been taken of risk and related matters during the previous financial year. The timing of this meeting also allows the annual report from a board’s audit committee to be approved and sent to the relevant funding body.
A spring meeting enables an institution’s annual report for the previous year to be approved, as well as an annual revenue and capital budget for the forthcoming financial year commencing on 1 August. It also enables progress in the delivery of an institution’s strategic plan to be reviewed, and the following year’s annual strategic statement and future financial projections to be approved before being sent to the funding body.
Finally, a summer meeting is an opportune time for a board to review the academic year ahead, as well as receiving and considering reports from the AGMs of any associated companies which have been established.
Those boards which meet more frequently find that this four meeting cycle does not allow for adequate time for discussion of strategy and other key issues, and therefore arrange for additional meetings including 'awaydays'.