The salaries of top earners in Richmond-owned corporations could be disclosed for transparency in sunshine lists.
This will include employees who make over $75,000 annually working for the Richmond Olympic Oval Corporation, Lulu Island Energy Company and the Richmond Public Library.
Coun. Kash Heed brought the motion forward during the city’s finance committee meeting on Sept. 3, and will be discussed on Sept. 9 by council.
Corporations will compile their lists, and following each year-end, they will be submitted to the city’s finance committee for public release. Employee expenses and benefits will also be included.
Coun. Andy Hobbs said he would have no difficulty supporting the motion.
However, he added the $75,000 should be increased in order to account for wage increases over the years, since the figure was originally set by the province in 2002.
“The $75,000 mark, I remember dealing with that number way back when I was still working,” he said. “For the public record, I think the province should look at upgrading that to capture what it was intended to capture.”
Coun. Laura Gillanders agreed with this statement, saying the figure is probably at around $125,000 by today’s standards.
Transparency and accountability are key components of sunshine lists, and they will ensure taxpayer money is being used responsibly and effectively, according to Heed’s motion.
Not only will these lists build trust in organizations, but they will also facilitate comparisons between companies to underscore any variations in compensation, it said.
They will also act as motivators for top earners to excel and justify their high pay, as well as helping to prevent the misuse of public funds.
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