Page 45 - Playhouse Annual Report 2021:22

Part C: Governance
1. Introduction
Corporate governance embodies processes and systems by which The Playhouse Company is directed, controlled and held to account. In addition to legislative requirements based on The Playhouse Company’s enabling legislation, corporate governance with regard to The Playhouse Company is applied through the precepts of the Public Finance Management Act (PFMA) and run in tandem with the principles contained in the King’s Report on Corporate Governance.
Parliament, the Executive and the Accounting Authority of the public entity are responsible for corporate governance.
2. Portfolio Committees
The Parliamentary Portfolio Committee on Arts and Culture is responsible for oversight on the work of the Department of Sports Arts and Culture (DSAC) and all other public entities reporting to the DSAC.
The Playhouse Company did not appear before the Portfolio Committee on Arts and Culture.
3. Executive Authority
During the current year, the following reports were submitted to the Department of Sport, Arts & Culture:
• Annual Performance Plan 2022/2023
• Shareholders Compact 2022/23
• Quarterly Reports for the quarters ending June 2021, September 2021, December 2021 and March 2022
4. The Accounting Authority (Council)
For the year under review, The Playhouse Company had a Council appointed by the Minister of Sport, Arts and Culture. According to the Cultural Institutions Act, the affairs of the institution are under the control, management and direction of the Council.
The functions of the Council are:
• To formulate policy;
• To hold, preserve and safeguard all movable and immovable property of whatever kind placed in their care or loaned or belonging to The Playhouse Company;
• To receive, hold, preserve and safeguard all specimens and collection of all other movable property placed under its care and management under Section 10 of the CI Act 10(1);
• To raise funds for The Playhouse Company;
• To manage and control the monies received by The Playhouse Company and to utilise those monies for defraying expenses in connection with the performance of its functions;
• To keep a proper record of the property of The Playhouse Company, and to submit to the Director- General any returns required by him or her in regard thereto and to cause proper books of account to be kept;
• To determine and substitute the CI Act and with the approval of the Minister, the object of the declared institution; and
• To generally carry out the objects of the declared institution.
Council may determine the hours and conditions to which the public may visit The Playhouse Company.
The Council shall have the power to appoint such persons as it considers necessary to perform the functions of The Playhouse Company. The determination of the remuneration and terms and conditions of service shall be in accordance with the scheme approved by the Minister in consultation with the Minister of Finance.
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