Governance
The Fund is governed by the Chancellor’s Education Fund Board under the oversight of the Vice-Chancellor, with financial oversight by the University Council.
2.2 Governance and composition
The Chancellor’s Education Fund Board
The Chancellor's Education Fund (CEF) shall be governed by the Chancellor's Education Fund Board (CEFB). The Board shall operate under the oversight of the Vice-Chancellor and shall provide strategic direction, ensure alignment of the Fund with its approved objectives, and oversee the effective and accountable implementation of its activities.
The CEFB shall comprise eight (8) members and a Chairperson.
Composition of the Board
- 1ChairpersonAppointed by the Vice-Chancellor
- 2Representative of the University Management Board
- 3Representative of the University Senate
- 4Representative of the Dean of Students
- 5Representative of the Office of the Registrar, Academic Affairs
- 6Representative of the Directorate of Finance
- 7Chairperson of the OUK Alumni Association
- 8Fund SecretariatAppointed administrative Officer
- 9A distinguished member of society appointed by the Chancellor
The management and execution of the Board shall borrow from governance practices in the Mwongozo Code of Conduct.
The Board shall be responsible for providing strategic oversight, approving key implementation decisions, ensuring transparency and accountability in the management of the Fund, and monitoring its performance against the approved objectives and implementation framework.
Account signatories
Signatories of the Fund account shall be the Vice-Chancellor, the Chairperson of the Board and the Finance Officer of the University. Before the Board is inaugurated, the current University signatories shall apply for the time being.
Transparency
To promote transparency and accountability, the Fund shall publish anonymised award statistics for each funding cycle and submit annual audited reports in accordance with the Fund's requirements and applicable University policies and procedures.
2.6 Monitoring, reporting and renewal
Monitoring, reporting and audit
Beneficiaries shall be required to maintain satisfactory academic progression and comply with all reporting, monitoring, and verification requirements of the Chancellor's Education Fund. On an annual basis, beneficiaries shall provide relevant academic records, supporting documentation, and any other information required by the Fund for purposes of monitoring and verification.
The Fund shall monitor beneficiary retention, academic progression, compliance, and demographic reach through periodic review of academic records, beneficiary reports, supporting documentation, spot checks, and other appropriate verification mechanisms. The Fund shall prepare an annual report on its implementation, performance, and outcomes for submission to the relevant University organs.
Where applicable, renewal of support shall not be automatic and shall be subject to the availability of funds, continued financial need, compliance with the Fund's requirements, and satisfactory academic progression. Renewals shall be considered competitively in accordance with the approved criteria.
The Fund shall also be subject to regular audit and financial oversight in accordance with the University's established audit, financial management, and accountability processes.
In view of the founding officer, the University shall provide regular reports to the Chancellor, who is the founding officer of the Fund.
The framework
Implementation Framework
The Fund is administered under the Chancellor's Education Fund Implementation Framework, which sets out its objectives, governance, application and selection procedures, monitoring and timelines.
Title
Open University of Kenya Chancellor's Education Fund Guideline
Responsible office
Chancellor's Education Fund Board
Approval authority
University Council
Document classification
Public
Support a fund built on accountability
Every contribution is managed under the University’s approved financial policies and the Public Finance Management Act, 2012.