Two new committees meet

The Governance and Audit Committees met for the first time this month.  There was little to no fanfare.  To be fair, it is hard to compete with the significance of parking issues in our lives.  I say that with full knowledge that sarcasm is a dicey game for politicians. 

So why are these committees important?

When someone invests in a corporation, as a shareholder they want to be assured of two things – that their investment is used appropriately (for the reasons it was intended) and that the people managing the business are competent and will make sound business decisions.  If they cannot be convinced of this, they will take their money elsewhere (hopefully before it has been swindled or wasted).

I think citizens want the same assurances about the investment they make in their local communities through their municipal government.  Unless they are prepared to move to another community, they don’t have the same flexibility as corporate shareholders to invest elsewhere.  This drives some taxpayers crazy.  I know – they often express that frustration to me in colourful ways.

The fundamental purpose of the Audit Committee is to ensure that your money is used appropriately for the purposes it is intended.

The fundamental purpose of the Governance Committee is to ensure that the right processes and people are in place with the resources they need to make sound business decisions.

That’s why they are important.

About Karen Farbridge

An unwavering change maker seeking a just, democratic and sustainable world.

View all posts by Karen Farbridge

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