2023-24 Statement of Corporate Governance Practices
Communications (with the Shareholder and Stakeholders) SaskEnergy is committed to the principles of transparency, openness and timeliness in communication with its Owner, CIC, employees, stakeholders and the public. The Board is accountable to the Minister Responsible for SaskEnergy through the Board Chair. The Minister functions as a communication liaison among the Corporation, CIC, Cabinet, the Provincial Legislature and the public. The Corporation follows a Board-approved external communications policy and complies with the communication requirements set by CIC and by its governing statute. SaskEnergy regularly surveys employees and external stakeholders for feedback on its corporate activities. More information on these communications is set out in the Managementʼs Discussion and Analysis. SaskEnergy strives to balance transparency and maintain customer confidentiality in its communications and disclosure as an entity subject to The Freedom of Information and Protection of Privacy Act . The Corporation is subject to annual disclosure requirements of the Legislative Committee regarding Crown Payee Disclosure on all payments greater than $50,000 to employees and suppliers, and for all grants, donations and sponsorships greater than $5,000. All significant public disclosures of corporate performance of the Corporation are subject to prior approval of the Board. SaskEnergy Senior Executive members also appear before Legislative Committees to answer questions relating to the business of the Corporation in preceding years. To facilitate feedback to and from the Owner, the Board Chair communicates with CIC and participates in a CIC Chairs forum, where communication and feedback are provided on the Ownerʼs expectations of all Saskatchewan Crown corporations. SaskEnergyʼs CEO regularly provides briefings to the Minister Responsible for SaskEnergy.
Director Remuneration Under The Crown Corporations Act, 1993 , CIC has the authority to set the compensation to be paid to the Directors. The Human Resources and Safety Committee has the authority to recommend to the Board (and the Board to CIC) adjustments to such compensation. The Audit and Finance Committee receives quarterly reports concerning Directorsʼ remuneration and accounts for any anomalies to the Board. The Committee reviews the annual payee disclosure report, including total remuneration paid to the Directors. Directors are paid a yearly retainer for their services on SaskEnergyʼs Board, as well as a set per diem fee for travel time and attendance at Committee and Board meetings, as follows: • Chair of the Board: annual retainer of $40,000. • Other Directors: annual retainer of $25,000. • Chair of Audit and Finance Committee: annual retainer of $3,500. • Chairs of other Committees: annual retainer of $2,500. • Committee members: $750 per day meeting fee. • Directors also receive reimbursement for their reasonable out-of-pocket expenses, including travel, meals and accommodations while performing their duties. Board members each sit on one of the three (3) Committees. There were thirteen (13) Board meetings and seventeen (17) Committee meetings this reporting period. The total remuneration paid to Directors (annual retainers, pro-rated for the portion of the fiscal year each Director was a member of or chaired a Committee, plus Committee per diems) was $324,482.97 * compared to $356,417.39 ** in 2022-23. The total business travel and meeting expenses paid to members of the Board was $26,538.01 * compared to $17,406.30 ** in 2022-23. * This amount was for the 12-month reporting period of April 1, 2023 to March 31, 2024.
** This amount was for the 12-month reporting period of April 1, 2022 to March 31, 2023.
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