Rates of board remuneration are set by City Council in accordance with the City’s Remuneration Policy.
Under the policy, Council members or City officials who serve on the boards of directors of City agencies and corporations do not receive additional remuneration for serving on these bodies beyond their regular salaries.
The policy stipulates that remuneration is paid to citizen members only when the board operates in a business environment (corporations), where a payment is required by legislation (some service boards), when duties are adjudicative in nature and time commitment is substantial (quasi-judicial) and for financial investment expertise (fund investments).
The Remuneration Policy is based on a number of key principles, including:
- an element of public service is implied in any citizen appointment
- payments are not intended to be equal to the value of services rendered, nor are they intended to be competitive with the appointee’s occupational compensation.
The Expense and Travel Reimbursement Policy for board appointees is based on policies and guidelines that apply to City staff.
Any remuneration or expenses paid to Council members and citizen appointees is reported to Council on an annual basis by the Treasurer, as required by Section 223 of the City of Toronto Act.