Page 74 - DUT Annual Report 2023

COUNCIL ON GOVE
STATEMENT RNANCE
Council
In accordance with the Regulations for Annual Reporting by Public Higher Education Institutions, published in Government Notice No. R. 464 in Government Gazette No 37726 of 09 June 2014, the DUT Council is required to present this statement on governance. In this regard, we provide a brief overview of the university’s governance structures, legal status, and corporate governance practice.
The composition, powers, and responsibilities of the DUT Council are in accordance with the legal framework provided by the Higher Education Act No 101 of 1997 (as amended in 2016) and DUT’s Statute, recently amended and approved in February 2023. In addition, relevant legislation and approved internal policies and procedures governing the use of public finances are adhered to by Council. The Code of Conduct for Council members serves to regulate the conduct of members of Council, particularly in relation to conflicts of interest. The Code is applied should there be lapses, or perceived lapses, of good conduct on the part of members of Council.
Complying with this framework ensures that, through our Stewardship Perspective of ENVISION2030 and the values and principles contained therein, we conduct university business in accordance with the law and professional standards, and that finances are safeguarded, properly accounted for, and used prudently. The Chair of Council’s Report explains how the university has complied with the stipulated governance framework for the year 2023.
Council’s responsibilities include ongoing strategic direction for the university, approval of the budget, major developments and policies, and the receipt of regular reports from Executive Management on major operations of the university. Council comprises 30 members, 19 (63%) of whom are external members, who are neither employees nor students of DUT. The role of the Chairperson of the
Council is clearly separated from that of the university’s Chief Executive, the Vice-Chancellor, in line with best practice in corporate governance. The Council and its committees successfully held their quarterly meetings as scheduled.
Council Committees
In performing its overall oversight over the governance of the university, the DUT Council delegated or assigned its powers and functions – except those specified in applicable legislation and the DUT Statute – to its committees mentioned as follows.
• Executive Committee, a subset of which constitutes the Remuneration Committee
• Finance Committee
• Risk Committee
• Audit Committee
• Joint Finance and Audit Committee, which meets to
consider Annual Financial Statements
• Human Capital Committee
• Code of Conduct Committee
• Selection Committee for executive/senior
management appointments
All Council committees are formally constituted with terms of reference and each comprises external members of Council in the majority. In addition, one external Council member serves on the university’s Student Services Board, two external Council members serve on each of Senate, the Institutional Forum and the Professorial Appeals Committee. The Chairperson of Council and three external and two internal members of Council serve on the Electoral College which nominates or appoints the Chancellor.
Staff and Student Participation
The DUT uses a variety of participating structures for matters that affect employees and students directly and materially.
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DUT ANNUAL REPORT 2023