RAND WATER ANNUAL REPORT 2023

Consolidated Annual Financial Statements for the year ended 30 June 2023

Remuneration Report

(a)

Employee did not meet the criteria to qualify for a perfomance bonus.

EMPLOYEE CATEGORIES

Bargaining Unit ‑ Hay Bands H‑N

The organisation operates a dual system for the administration of guaranteed or fixed earnings. Employees in the Bargaining Unit (Hay Band H‑N) are remunerated on a basic‑plus‑benefits dispensation. The annual increases are determined through the Amanzi Bargaining Council and agreed to at the sector level between all Water Boards and the recognised labour unions.

Management Hay Bands O‑Q

The management category (Hay Band O‑Q) are remunerated on a Total Cost to Company dispensation where some flexibility is provided for in the structuring of the packages.

Chief Executive and Executive Committee

The Chief Executive and Business Unit Executives are remunerated on a Total Cost to Company remuneration dispensation. Package increases for the Chief Executive and Business Unit Executives are recommended by the Human Resources and Remuneration Committee for final approval by the Board of Rand Water.REMCO annually approves a salary negotiation mandate and labour cost increase based on submissions from management considering prevailing economic conditions and factors, available budget and affordability and organisational sustainability. The organisation cannot exceed the salary mandate or approved labour cost increase without obtaining prior approval.

REMUNERATION OF BOARD MEMBERS

Rand Water Board

The Department of Water and Sanitation (DWS), the Shareholder, has annually provided guidance to Rand Water on the remuneration rates for Board Members. This is advised through a schedule of rates for the various categories of Board Members. Rand Water has not received any instructions from the DWS in respect of Board Member fees since 2018/2019 despite engagement and enquiries in this regard.

Rand Water Foundation

The Rand Water Foundation Board members are remunerated at the rates that are approved by the Rand Water Board.

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