Toronto Hydro Corporation announced changes to its expense policy for all management staff February 6, as part of an on-going effort to bring greater clarity, openness and transparency to expense reporting and disclosure.
Effective immediately Toronto Hydro will:
• Report all executive and board member expenses for the last three years, in a format consistent with the City of Toronto’s Business Expense Policy for City senior staff
• Report future expenses quarterly, also consistent with the City of Toronto
• Align Toronto Hydro’s expense policy for all non-unionized staff with the City of Toronto’s Business Expense Policy.
“This change makes Toronto Hydro one of the most transparent municipally-owned utilities in the country,” said David Williams, Chair of the Board. “We recognize that public expectations have changed when it comes to openness and transparency. We welcome that scrutiny and are taking steps to address it.”