The Learning and Skills Councils Annual Report and Accounts for ...

More documents

Recommendations

Info

34. As Accounting Officer I confirm that: • there is no relevant audit information of which the auditors are unaware; • I have taken all the steps that I ought to in order to ensure that I am aware of relevant audit information; and • I have taken all the steps that I ought to in order to establish that the LSC’s auditors are aware of the information. Geoffrey Russell Chief Executive of Skills Funding, Department for Business, Innovation and Skills; and Accounting Officer for the Learning and Skills Council 19 July 2010 20 LSC Annual Report and Accounts 2009–10
Remuneration Report The Remuneration Committee has formed an important part of our governance structure and process, providing informed and independent decisions on reward policy and practice. Given our status as an NDPB, the existence of the Remuneration Committee has allowed us greater freedom from our sponsoring department (BIS) on reward policy and practice. Chairman Christopher N Banks CBE Chairman, Learning and Skills Council, and Chief Executive, Big Thoughts Ltd Members Gareth Cadwallader Chairman, Sophrosyne Ventures LLP Frances O’Grady Deputy General Secretary, Trades Union Congress Stephen Marston Director General, Universities and Skills Group, BIS The Chief Executive and the Director of Human Resources were invited to attend and speak at meetings except when their own remuneration was being considered. The Head of Reward for the LSC was also invited to attend, where appropriate. The committee met three times during the period April 2009 to March 2010. The committee determined the reward for members of the Management Group and other key senior executives. Honoraria for National Council members were determined by the Secretary of State. The reward policy complied with relevant HM Treasury guidance and was based on the philosophy that remuneration arrangements should support the LSC in the achievement of its business objectives. The reward policy was designed to attract and retain the right calibre of people, to focus individuals to deliver superior performance and to encourage team-based collaboration across the LSC. In determining the appropriate levels of reward, the LSC has taken into account local market competitiveness, the views of major stakeholders and the UK regulatory framework. Reward levels were compared with those in organisations of similar size and focus in each of the LSC’s regions. The Remuneration Committee’s terms of reference have been as follows: • To review and advise the National Council on the framework and policy for the appointment, pay and performance of LSC staff. • Subject to any determination relating to the Chief Executive’s appointment made by the Secretary of State, to review and make recommendations to the Chairman on any revisions to the Chief Executive’s terms and conditions of employment, including remuneration. • To assist the Chairman in monitoring annually the performance of the Chief Executive against the annual performance plan and, in light of that performance appraisal, to advise the Chairman of any performance-related pay increase or bonus to be paid. • To review the performance of senior staff within the National Council who report directly to the Chief Executive; to review the remuneration of such staff at least annually; and to make recommendations to the Chief Executive on any pay increase or remuneration arrangements that may be appropriate. Leadership and Governance LSC Annual Report and Accounts 2009–10 21
Page 1: The Learning and Skills Council’s
Page 4 and 5: © Skills Funding Agency July 2010
Page 6 and 7: Chairman’s Statement Looking back
Page 8 and 9: This comes on top of another achiev
Page 10 and 11: So it is with both delight and some
Page 12 and 13: Our Targets and Achievements In the
Page 14 and 15: Management and Structure The Learni
Page 16 and 17: Taking Care of Our People To meet o
Page 18 and 19: We have had in place a comprehensiv
Page 20 and 21: Management Commentary Reporting of
Page 22 and 23: Year-end position 11. The net book
Page 26 and 27: Components of remuneration The Chai
Page 28 and 29: Board members’ emoluments Audited
Page 30 and 31: Senior Management Group emoluments
Page 32 and 33: Senior Management Group pension ent
Page 34 and 35: Unaudited information Salary For th
Page 36 and 37: Statement of the Chief Executive of
Page 38 and 39: 8. In 2008-09, the LSC failed to pr
Page 40 and 41: 28. During the past year, the Manag
Page 42 and 43: issues were incorporated into it. T
Page 44 and 45: • Following a referral to the IAI
Page 46 and 47: Data management 82. The Internal Au
Page 48 and 49: The Certificate and Report of the C
Page 50 and 51: Statement of Financial Position as
Page 52 and 53: Statement of Cash Flows for the yea
Page 54 and 55: Table 1: Summary of depreciation me
Page 56 and 57: Education Maintenance Allowance Edu
Page 58 and 59: 2 First-time adoption of IFRS £’
Page 60 and 61: Funding department Year ended 31 Ma
Page 62 and 63: Funding department Year ended 31 Ma
Page 64 and 65: 3b Programme expenditure by regiona
Page 66 and 67: 5a Staff costs Information in respe
Page 68 and 69: 6a Administration (other costs) Yea
Page 70 and 71: 9 Property, Plant and Equipment (i)
Page 72 and 73: 11a Trade receivables and other cur
Page 74 and 75:
13a Trade payables and other curren
Page 76 and 77:
15 Financial guarantee: Career Deve
Page 78 and 79:
17 Operating lease commitments Tota
Page 80 and 81:
22 Related party transactions Durin
Page 82 and 83:
23 Losses statement The LSC incurre
Page 84 and 85:
Glossary and Further Information Th
Page 86:
Sector Skills Councils (SSCs) Indep
show all

The Learning and Skills Councils Annual Report and Accounts for ...

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?