Statement of Corporate Governance Practices 2021-22
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 Directors' 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 SaskEnergy’s 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; and • 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 nine (9) Board meetings and nineteen (19) 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 $357,460.91* compared to $355,168.74 ** in 2020-21. The total business travel and meeting expenses paid to members of the Board was $2,810.52* compared to $5,270.14** in 2020-21. *This amount was for the 12-month reporting period of April 1, 2021, to March 31, 2022. **This amount was for the 12 months from April 1, 2020, to March 31, 2021.
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