Corporate Governance
NSW Government agency
Sydney Ferries was a statutory State Owned Corporation from 1 July 2004 to 31 December 2008. On 1 January 2009 it was re-constituted as a NSW Government agency. Sydney Ferries operates regular ferry passenger services on Sydney Harbour and its tributaries within the framework of the Transport Administration Act 1988 (NSW) (TA Act) and the Passenger Transport Act 1990 (NSW).
Sydney Ferries’ Board
Sydney Ferries has a Board which is responsible for:
- determining the policies of Sydney Ferries;
- ensuring that the activities of Sydney Ferries are carried out properly and efficiently;
- setting the strategic and operational direction of Sydney Ferries and ensuring that its obligations to the Government and other relevant stakeholders are met;
- reviewing and approving Sydney Ferries’ strategies as formulated by management with guidance from the Board and reviewing the implementation of those strategies;
- fulfilling its corporate governance and oversight responsibilities in relation to Sydney Ferries’ operational and service obligations, risk management system, financial reporting, internal control structure and the internal and external audit functions;
- providing input into and final approval of the corporation’s Statement of Business Intent, including a corporate plan; and
- monitoring Sydney Ferries’ performance against the financial and non-financial objectives and key performance indicators specified in Sydney Ferries’ Statement of Business Intent and Sydney Ferries’ Interim Ferry Service Contract with NSW Transport and Infrastructure.
Sydney Ferries’ Board Charter
Consequent upon Sydney Ferries becoming a NSW Government agency on 1 January 2009, Sydney Ferries’ Board Charter was revised. The Charter sets out the role, powers and responsibilities of the Board in order to assist it in discharging its function and responsibilities under section 35I of the TA Act and fulfilling its corporate governance and oversight responsibilities.
Click to view a copy of the current Sydney Ferries’ Board Charter
Board Committees
The Board currently has two standing committees to assist in the good governance of the organisation, to allow for more detailed consideration of major issues, and to examine matters that may be referred to it by the Board. Each committee has a charter, which is approved by the Board.
Audit Committee
The Audit Committee supports the Board in discharging its corporate governance responsibilities in relation to:
- overseeing the financial reporting process to ensure the balance, transparency and integrity of published financial information
- monitoring and reviewing the effectiveness of Sydney Ferries’ internal control structures and financial risk management system;
- monitoring and reviewing the effectiveness of the internal audit function;
- monitoring and reviewing the independent audit process; and
- any other matter referred to it from time to time.
Click to view a copy of the current Audit Committee Charter
Human Resources Committee
The Human Resources Committee supports the Board in discharging its responsibilities in relation to:
- the formulation of an effective industrial relations strategy that will achieve outcomes in support of the organisation’s objectives;
- workforce planning to ensure Sydney Ferries has the workforce capability necessary to support its objectives;
- the promotion of an efficient and effective workforce;
- staff wellbeing including occupational health and safety, injury management and return to work programs; training and development policies and objectives to meet ongoing business objectives;
- the development of a sound corporate culture; and
- plans for the succession and development of senior management.
Click to view a copy of the current Human Resources Committee Charter