Rand Water responds to Outa’s questions
Rand Water responds to Outa’s request for a review of bonuses paid to its chief executive.
Reports by Organisation Undoing Tax Abuse (Outa) recently surfaced with regards to the performance bonus awarded to Rand Water’s chief executive.
Rand Water’s media relations manager Justice Mohale said the chief executive’s remuneration package was approved by the minister of water and sanitation, a shareholder of Rand Water.
“Bonuses are paid in terms of the board-approved policy, with the concurrence of the shareholder.
“Bonuses are awarded to all executives and permanent Rand Water staff members.
“The Rand Water Short-Term Incentive Scheme (STI) is approved by the board of Rand Water in line with their delegation of authority,” he said.
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The scheme operates at the sole discretion of the board, it is self-funding, performance-based and all employees of Rand Water participate in the scheme.
The bonuses are paid out after the performance is assessed against agreed targets that have been achieved or exceeded.
The scheme is subject to rigorous assurance and governance process prior to being awarded.
“The performance period for the organisation is from July 1 to June 30 thereby aligning with the organisation’s financial year.
“The STI has been operational since the 2009/10 financial year.
“Policy revisions for the scheme were communicated by the Department of Water and Sanitation to Rand Water in January 2015,” said Mohale.
Rand Water is of the view that the bonuses implemented to its chief executive remain in line with the provisions of the board, and that the minister and the prevailing policy, and that all relevant assurance and governance processes, were observed.
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