Agenda item

To agree the proposed Terms of Reference for the Remuneration Committee (copy attached).

Governors discussed the proposed Terms of Reference of the Remuneration Committee. It was noted that the Terms of Reference needed to be more detailed with various additions and amendments.

The Chairman explained that he would, in due course, meet with the Chairman of the City Corporation’s Establishment Committee to build and maintain a positive relationship.

It was noted that a vacancy existed on this Committee, which would be raised at the next Board meeting.

RESOLVED – That the Terms of Reference of the Remuneration Committee be approved as below and submitted to the next Board of Governors meeting:

The Remuneration Committee provides advice to the Board of Governors of the Guildhall School of Music & Drama. It is recognised that all matters relating to employment of staff are within the purview of the City Corporation’s Establishment Committee.

Constitution

·           The Chairman of the Board of Governors of the Guildhall School of Music & Drama

·           The Deputy Chairman of the Board of Governors of the Guildhall School of Music & Drama

·           At least three non-Common Council Governors

·           Two Common Council Governors

·           The Principal of the Guildhall School of Music & Drama (except when the Committee discusses his or her remuneration)

·           May include up to three other lay/independent members (who are not necessarily members of the governing body)

Quorum

·           At least three Governors

Terms of Reference

·           To take note of staff remuneration, the pay structure and benchmark the School against the rest of the higher education sector.

·           To look at pay equality, gender, ethnicity and other appropriate balances and to flag any significant   discrepancies within the School.

·           To satisfy itself with the procedures in place at the School to allow staff to make representations about their pay.

·           To satisfy itself that any ad hoc or personalised payments that might distort the basic remuneration structure are made according to transparent and justifiable rules.

·           To benchmark the salary of the Principal against sector comparators and is (or is not) content with the outcome of the benchmarking.

·           To make recommendations to the Board of Governors and the Establishment Committee in respect of overall staffing pay structure, having regard to equal opportunities.

It was agreed that the Committee would meet at least annually and provide an annual report to the Board of Governors.