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Wrote a letter about this.
Mississauga News - Feb 28, 2007 - By Joseph Chin
Hard work justifies pay packages: Iannicca
Nando defends salary 
Staff photo by Rob Beintema
Hard at work -- City councillor Nando Iannicca displays just some of the extra work
entailed from being on the board of Enersource. [1]
Ward 7 Councillor Nando Iannicca says he's worth every penny of the $35,600 salary he collects for sitting on the board of Enersource, Mississauga's hydro utility.
The councillor is firing back at critics who say politicians should not be paid extra for serving on municipal boards and committees. "It entails an enormous work effort and responsibilities," Iannicca told The News.
Iannicca said he attended 33 board meetings last year, lasting roughly three hours each. Then there's the preparation time required.
"Sitting on the board goes way beyond my conventional duties as a councillor. In addition, I'm personally liable if the board is derelict," said the 18-year councillor.
Currently, Iannicca and Mayor Hazel McCallion sit on the board of the company, which is 90 per cent owned by the City of Mississauga. The compensation package they draw from Enersource is on top of their council salaries. McCallion already earns $164,000 in her roles as mayor and Peel councillor, while Iannicca draws $119,000 as a local and regional councillor.
At a recent closed door City meeting, questions were raised about the board payments.
McCallion agreed that "a complete review" was in order.
"When you enter a new term, it's a chance to look at everything, and we are looking at everything," she said. "There's a principle here:
Should elected people sitting on boards be paid?"
City staff will look into the issue and report back to council, at which time council will decide whether to reduce compensation or remove it completely.
Iannicca is adamant he should be remunerated.
And he is particularly riled when he hears people pointing out that Toronto politicians get paid nothing for sitting on the Toronto Hydro board.
"(Toronto's) a small-town utility compared to Enersource," Iannicca said. "For instance, it does not issue debentures and is not subject to Ontario Securities Commission regulations. The difference is like night and day."
Iannicca says he was appointed to Enersource's board three years ago because of his qualifications. (He has degrees in political science, journalism and economics. McCallion as mayor automatically has a place.)
"You must have the core competencies," Iannicca said. "Just look at what's happening in the United States. The fallout from the corporate scandals and the passing of the Sarbanes-Oxley Act have put enormous pressures on board members, not only in U.S. but also here in Canada. You must know what you're doing. If I'm derelict in my duty they can come after me. I could be jeopardizing my family's future..."
(The Sarbanes-Oxley Act of 2002 is a federal law passed in response to a number of major corporate and accounting scandals including those connected with Enron, Tyco International, and WorldCom. The scandals resulted in a decline of public trust in accounting and strict rules put on reporting practices.)
Iannicca said he understands why some people might question the lavishness of the compensation. "I agree it's not a stipend...it's a considerable amount of money when I'm doing it in a part-time capacity."
Still, Iannicca says he will have to "think very carefully" if the payment is taken away. "But I'll step up as long as I'm protected," he said.
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[COMMENTS BY DON B. -
[1] - Wow see a Councillor work, see Nando work, Nando work hard! ]