CORPORATISATION: A Transformation Initiative Of WASA

ACHIEVEMENTS

The Authority has had significant achievements thus far in its corporatisation efforts. In 2015 a number of milestones have been attained through implementation Corporate Governance (CG) practices contributed by each Division. The joint efforts and outputs of the divisions have contributed to the achievements under the CG Project as well as assist in the transformation process of the Authority. These achievements are detailed in Table 1 below.

CORPORATISATION FRAMEWORK

INFORMATION AND DISCLOSURE

FINANCIAL DISCIPLINE

CONTROL
  • CG Action Plan 1 & 2
  • Publication and Communication of Corporate Information via corporate website
  • Know Your Organisation Quiz 2014 & 2015 - Corporate Governance Component
  • Publications on the Authority's Corporate Governance Improvements (Published - Internally & Externally)
  • Corporatisation of the Authority briefs submitted to the Ministry of the Environment and Water Resources
  • Board Meetings (Monthly)
  • Annual Customer Satisfaction Survey
  • Customer Portal (Bill Payment)
  • Communication Plan
  • Publication of the Customer Satisfaction Survey Baseline Report
  • Demand and Financial Model
  • Customer Information System (CIS) - Response to 24/1 & 24/2 customers
  • Disclosure Requirement Policy
  • The Authority's Business & Non-Business Objectives
  • Tariff Review (Ongoing)
  • Monitoring and Reporting system for Capital Projects (Operational Plan)
  • Monitoring System for new rates and charges
  • Annual Internal Controls Self Assessments which conform to COSO Framework
  • Anti-Fraud Policy
  • Enterprise Risk Management Framework & ERM Policy
  • Annual Employee Forum
  • Development of a Performance Management System
  • Financial Package Oracle E-Business Suite
  • Audited Financial Statements
  • Code of Ethics and Business Conduct
  • Audit and Finance Committee Charters

CORPORATE GOVERNANCE STAKEHOLDER WORKSHOP 2015

On October 21st, 2015, the Water and Sewerage Authority hosted a One-Day workshop entitled: “WASA: Corporatisation and the Future” at the Hilton Hotel and Conference Centre, Lady Young Road, Port-Of-Spain. The workshop formed part of the Authority’s strategic direction under the Corporate Governance Project, to engage all stakeholders in ongoing consultations and discussions.

Sixty (60) participants were in attendance at the Workshop, representative of employees and external stakeholders including:

  • Water and Sewerage Authority- Executive Leadership Team Management, Employees and Trade Unions
  • Ministry of Public Utilities
  • Regulated Industries Commission
  • Inter-American Development Bank

Presentations were delivered by the following key speakers:

  • Fidel Cuéllar, Internal Consultant
  • Evan Cayetano, Water & Sanitation Senior Specialist (IDB)
  • Yvon Mellinger, Water and Sanitation Lead Specialist (IDB)
  • Adrian Jolliffe, External Consultant
  • Axel Kravatzky, External Consultant

The main focus of the presentations was on the Corporatisation of WASA through the implementation of Corporate Governance Best Practices. The session provided an opportunity for participants to engage in the panel discussions aimed at providing feedback, raising issues/concerns and fielding questions to the panel.

OCTOBER (2015) STAKEHOLDER SESSION AT HILTON HOTEL AND CONFERENCE CENTRE