100%

Bloemwater

admin@bloemwater.co.za | (051) 403 0800

THE BOARD
BOARD COMMITTEES

To enable the Board to properly discharge its onerous responsibilities  and duties, certain responsibilities  of the Board have  been  delegated   to  Board  Committees.   The  creation  of  Committees   does  not  reduce  a  Director’s   overall responsibility   and  therefore   all  Committees   must  report  and  make  recommendations  to  the  Board.  All  Board Committees  are chaired by a Non-Executive  Director. Furthermore,  each Board Committee acts in accordance with its respective Charter.

 

Committees of the Board assist the Board to efficiently advance the business of the Board. In tandem with the aforesaid, Committees are able to demonstrate  that Director Responsibilities  are being adequately and properly discharged. The Board has instituted the following committees:

 

The Corporate Support and Human Resources Committee

comprising of Directors suited to specialising in human resources, human capital as well as corporate social responsibilities.  The purpose of the Bloem Water Audit Committee  is to assist the Board in fulfilling its oversight responsibility  for the integrated  reporting  process,  the  system  of  internal  control,  the  audit  process,  and  Bloem  Water’s  process  for monitoring compliance with laws, regulations, voluntary codes, best practices and the code of conduct.

 

 

The Finance  Committee

comprising   of  Directors  with  expertise  in  the  area  of  finance,  audit  and  assets management  and supply chain management.  The Finance Committee assisted the Board in fulfilling its oversight role with regards to governance of financial management and financial accounting by reviewing quarterly, financial statements, investment management, and procurement processes through meetings which were held at least once a quarter.  The Committee monitored and evaluated the effective and efficient functioning and operation of the Finance, Engineering and Projects and Operations and Maintenance Departments within Bloem Water.

 

 

The Audit Committee

comprising of Directors with expertise in finance, internal control and risk management.  The purpose of the Bloem Water Audit Committee  is to assist the Board in fulfilling its oversight responsibility  for the integrated  reporting  process,  the  system  of  internal  control,  the  audit  process,  and  Bloem  Water’s  process  for monitoring compliance with laws, regulations, voluntary codes, best practices and the code of conduct.

 

 

The Chairperson’s Committee

comprising of the Chairpersons to all the Board’s sub-Committees.

 

The Social & Ethics Committee

comprising  of Directors  with skills and expertise  in legal as well as areas that ensure the Organisation’s  compliance with social, ethical and codes of best practice.  The primary function of the Committee is to assist the Board of Directors with the oversight and monitoring of social and ethical matters related to Bloem Water’s activities, the extent to which Organisational  Values are implemented and the impacts on Organisational  stakeholders (internal and external).

 

The Capital Projects & Fixed Assets Committee

comprising  of Directors with expertise in capital appropriations and long term projects.  The Purpose of the Capital Projects & Fixed Assets Committee is to assist the Board in the discharging of its duties relating to creating long and short term plans for Bloem Water Capital Projects and Fixed Assets, ensuring that the funding sources are in place to carry out these plans and assist the Board with capital expenditure programme related decisions within its delegated authority.

 

The Board of Trustees is an independent Committee and meets on a regular basis to deal with Pension Fund matters in accordance to the Pension Fund rules and regulations as well as applicable legislation.

Copyright - Bloemwater2017