Page 91 - Urban Renewal Authority 2023-24 Annual Report
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Committees Function Areas Chairman’s Statement
Audit Committee • Internal control and risk management
• Reliability, integrity, timeliness and conformity of financial and
operational information
• Compliance of business operations and management practices Managing Director’s Statement
• Economy, efficiency and effectiveness in the employment of URA’s
resources
• Special projects and investigations
• Accounting policies
• External audit reviews and internal audit charter
• Annual financial reporting and auditing Operating Review
Development Project Objection • To consider and deliberate on objections lodged under Section
Consideration Committee 24(1) of the URA Ordinance
• To prepare URA’s deliberations on the objections, which will be
submitted to SDEV in accordance with Section 24(3)(b) of the URA
Ordinance
Corporate Sustainability
Finance Committee • URA’s funding requirements
• Financial and treasury policies
• Investment of surplus funds
• Financial aspects of the Annual Business Plan and Five-year
Corporate Plan
• Annual budgets
• Market selling prices and target rents of development projects
Management Discussion and Analysis
Human Resources and • Remuneration policies (level and mix) of senior and general staff
Remuneration Committee
• Proposals for adjustments to salary and variable pay
• Organisation effectiveness and human resources management
Land, Rehousing and • Policies and matters relating to land grants, property acquisition,
Compensation Committee compensation and rehousing
• Acquisition strategies, approaches and offers for individual
projects Projects at a Glance
• Policy and criteria for loans under Section 12 of the URA
Ordinance
URA ANNUAL REPORT 2023-24 89 Corporate Governance
