Latest news with #CGF
New Indian Express
3 days ago
- Business
- New Indian Express
TTD chairman Naidu rules out hike in Common Good Fund
TIRUMALA: Tirumala Tirupati Devasthanams (TTD) Chairman BR Naidu on Wednesday categorically stated that the Board is not prepared to increase contributions to the Common Good Fund (CGF). In an interview with TNIE, Naidu said, 'the Endowments Department has issued a notice to TTD to raise its CGF contribution from the existing Rs 40 crore or contribute up to 9% of TTD's revenue. We are opposing this. There is no scope for increasing the CGF,' the Chairman affirmed. 'In 2022, the State Government handed over the Sri Venkateswara Institute of Medical Sciences (SVIMS) to TTD. In the last board meeting, we resolved to recruit 499 medical and paramedical staff, which will incur wage expenses of Rs 141 crore annually—up from the earlier Rs 68 crore,' the TTD Chirman added. He further said, 'In addition, we are administering several educational institutions, providing recurring grants to universities, colleges, schools, and welfare organisations, and maintaining roads and providing other facilities in Tirupati. Considering all these responsibilities, increasing the CGF is not feasible.' Aadhaar verification for TTD services approved The Chairman announced that TTD has received permission from the Centre to verify Aadhaar cards while devotees avail of its services. 'Our request for Aadhaar verification has been approved. The verification fee will be Rs 0.70 per transaction,and transactions will be conducted through an authorised link,' he said.
The Hindu
12-07-2025
- Politics
- The Hindu
A.P. Endowments Minister discusses TTD staff issues with Trust Board
A joint review meeting of the Endowments Department and Tirumala Tirupati Devasthanams (TTD) held in Tirumala on Saturday discussed issues related to employees of various departments, archakas and retired personnel and improving service standards for pilgrims. The meeting was organised following Chief Minister N. Chandrababu Naidu's directive to resolve the long-pending institutional issues through a unified approach. Endowments Minister Anam Ramanarayana Reddy, TTD Chairman B.R. Naidu, Executive Officer J. Shyamala Rao and Endowments Secretary Vinay Chand took part in the discussions. Mr. Ramanarayana Reddy told the media that the deliberations of the meeting would be brought to the notice of the State government, and appropriate action would be initiated. Efforts are on to ensure improvements in darshan facilities and the quality of prasadams. These upgrades have already been implemented in 161 major temples across the State, besides ensuring that only religious activities are encouraged on the temple premises. The Endowments Minister said that renovation works had been sanctioned for over 200 temples, utilising the Common Good Fund (CGF), and that the dhoopa deepa naivedyams would be resumed in over 300 temples. Prominent among others present include TTD Additional EO Ch. Venkaiah Chowdary, Endowments Commissioner Ramchandra Mohan, JEO Veerabrahmam and the senior officials from both the departments.
Time of India
12-07-2025
- Business
- Time of India
New trust boards for more than 1100 temples across Andhra in August: Endowments minister Anam
. TIRUPATI: State endowments minister Anam Ramnarayana Reddy has said that the Andhra Pradesh government will simultaneously constitute new trust boards for more than 1100 temples across the state in August. Speaking to reporters after a high level meeting of the endowments department with the Tirumala Tirupati Devasthanams held at Tirumala on Saturday, the endowments minister attributed the delay in constituting new temple trust boards to the reluctance among the chairmans and board members appointed by the erstwhile YSRCP government in stepping down from their posts on moral grounds after a regime change in the state. S by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Is it legal? How to get Internet without paying a subscription? Techno Mag Learn More Undo hifting his focus to the meeting held with the TTD top brass including chairman BR Naidu, EO J Syamala Rao, Additional EO Ch Venkaiah Chowdary and Endowments department secretary V Vinay Chand, Anam explained that there was an elaborate discussion on the Common good fund (CGF) on whether to fix up a lumpsum contribution from the TTD to the state government or go with the 9% on overall annual revenues model every year. 'A decision on this will be arrived at soon by the chief minister, who will take into account everyone's considerations and take a final call on the issue', the Endowments minister said. Another key issue that came up for discussion was the delay in the disbursal of Srivani trust funds meant for the construction of Hindu temples in religious conversion-prone regions of the state. 'Funds to the tune of Rs 147 cr has been blocked by the TTD as user certificates related to the expenditure incurred on earlier disbursed funds to the tune of Rs 107 cr were not submitted to the Tirupati trust. We have informed the TTD that the UCs will be submitted in due course of time and requested them to release the next tranche of Rs 147 cr funds and the TTD top brass positively responded on the issue', Anam added. Responding to the union minister of state for home affairs Bandi Sanjay's remarks of over 1000 non-Hindus working in the TTD, the state endowments minister asserted that it is a fact that there are several non-Hindus working in the Tirupati trust. There is a strong sentiment among a majority of Hindus that non-believers cannot be allowed to be on the payrolls of the TTD, and both the state government and the Tirupati trust respect their sentiments. 'While it has already been decided by the AP government and the TTD to oust the non-Hindus from the organisation, all possible means, including legal aspects, are being explored to expedite their ouster,' Anam clarified. Another key issue that came up for discussion was the proposals from the Vijayawada Kanaka Durga temple authorities to seek TTD's support in executing their plans for a twin ghat road project. 'There is a land parcel of about 2 acres close to the Indrakeeladri temple, which was donated by a devotee to the TTD. Since there exists no mechanism where in one temple trust can shift the ownership of land received as donation to another temple trust, we have asked the TTD authorities to consider the possibility of leasing out this land parcel after holding due consultations with the donor who donated it to the TTD. If this proposal materialises, it will help immensely in terms of de-congesting the existing road infrastructure around the Indrakeeladri temple at Vijayawada', Endowments minister added.
IOL News
08-07-2025
- Business
- IOL News
From adoption to adaptation: Making governance frameworks work for Africa
Many governance environments, whether in State-Owned Enterprises, municipalities, non-profits or segments of the private sector, grapple with informal power dynamics, fragmented oversight and resource constraints, says the author. Image: Supplied By Nqobani Mzizi In a fast-evolving world where markets, mandates and morals are shifting, organisations are being called to govern differently. The traditional rule-bound model of governance is increasingly insufficient in the face of systemic risks, stakeholder activism and digital disruption. As governance thinking evolves, new frameworks continue to emerge, each responding to the demand for purpose-driven, context-sensitive leadership. This proliferation of frameworks reflects the increasing complexity and diversity of modern governance challenges. The Committee of Sponsoring Organizations (COSO) draft Corporate Governance Framework (CGF), released in May 2025, exemplifies this shift, but its relevance to Africa hinges on aligning its structural approach with local realities. Developed with U.S. public companies in mind and globally recognised for its work on internal controls, the framework nonetheless raises critical questions for governance communities worldwide. In contrast to compliance-heavy codes or board-centric charters, the CGF proposes that governance is not the board's responsibility alone. It is a system of oversight, culture and controls that must be embedded across leadership, strategy, operations and stakeholder engagement. This represents a conceptual shift, with some alignment to King IV's view of governance as the exercise of ethical and effective leadership to achieve sustainable outcomes. This global framework enters an already vibrant African governance landscape, where multiple homegrown initiatives address diverse contexts and needs. South Africa has completed public consultations on its King V draft. Botswana has already developed and implemented a national Corporate Governance Code, now embedded in stock exchange listing rules for Public Interest Entities. Meanwhile, Uganda's Institute of Corporate Governance is spearheading the development of its first national code, engaging stakeholders across sectors to craft a framework suited to local needs. Each of these efforts reflects a different point in the governance code lifecycle. Beyond the continent, the ISO 37000 global standard on governance of organisations offers another reference point, emphasising high-level principles of purpose, value generation and stewardship. COSO's CGF therefore enters a marketplace of ideas, offering structure without necessarily displacing existing guidance. At the centre of COSO's CGF is a model comprising six interrelated components, supported by 24 principles. These components are intended to function in concert rather than isolation, reflecting the layered nature of mature governance. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Next Stay Close ✕ Ad Loading Oversight sets the tone at the top, clarifying how authority, accountability and direction flow throughout the organisation. It covers board structure, delegation to management and the safeguarding of stakeholder rights. Strategy anchors governance in long-term purpose, ensuring decision-making reflects organisational values and outcomes beyond short-term gains. Culture affirms that governance is in separable from behaviour, focusing on leadership tone, values and the lived reality of ethics across the organisation. People speaks to the role of human capital in governance, emphasising talent alignment, performance, incentives and succession planning that reinforce purpose and accountability. Communication ensures governance is informed and transparent through effective internal and external information flows, fostering trust and enabling oversight. Resilience, the final component, reflects the organisation's ability to adapt and respond to disruption by integrating governance with risk, internal controls and continuous learning. While the framework is structurally robust, its practical relevance depends on how it is interpreted and implemented across varying organisational realities and jurisdictions. The CGF builds on COSO's earlier work in risk and control frameworks, which may offer continuity for organisations already familiar with those approaches; the InternalControl–Integrated Framework and the Enterprise Risk Management Framework. Governance is framed not merely as an adjunct to control and risk, but as a central organising function influencing strategic coherence and performance. While King IV remains the primary governance code in South Africa, the COSO Governance Framework serves as a complementary model that reinforces its intent. King IV provides a values-based, principle-driven foundation rooted in ethical and effective leadership, supported by recommended practices. COSO, in turn, introduces a structural and systems-based lens that helps to operationalise these ideals within the organisation. Where King IV champions outcomes such as transparency, accountability, fairness and responsible leadership, COSO proposes a structural model that aims to embed these values through oversight, strategy, culture and integration into daily operations. Its emphasis on governance as a holistic capability echoes King IV's insistence that governance be applied in an integrated, outcomes-based manner. Viewed together, King IV and COSO reflect complementary approaches. King IV emphasises ethical direction, while COSO offers a systems-based structure for implementation. For African organisations, especially those operating in emerging or complex environments, the CGF's flexible, non-prescriptive approach may be useful in some contexts. Its principles resonate with key themes in King IV and ISO 37000: outcomes-based governance, stakeholder inclusivity and integrated thinking. However, COSO's U.S.-centric origins and its underlying assumption of mature governance infrastructure raise questions about its applicability across diverse African contexts. Many governance environments, whether in State-Owned Enterprises, municipalities, non-profits or segments of the private sector, grapple with informal power dynamics, fragmented oversight and resource constraints. Even well-intentioned reforms can falter where implementation capacity is limited or incentives misaligned. Without thoughtful adaptation, the CGF risks reinforcing form over substance or overlooking the contextual realities that shape governance on the ground. To gain meaningful traction in Africa, its principles must be interpreted through a local lens, one that accounts for regulatory unevenness, cultural nuance and developmental priorities across both public and private institutions. Governance breakdowns in Africa often stem from blurred lines between board and executive, among other factors. COSO's emphasis on role clarity and functional oversight is therefore timely and necessary. Yet African governance challenges are not only about the absence of skills, controls or enforcement. A deeper, less discussed gap may be the lack of a shared governance vocabulary; one that bridges purpose and performance, values and structure and enables accountability to be both principled and practical. No framework is a silver bullet. Each has a role to play in supporting governance, but their value lies in how thoughtfully they are applied. The success of COSO's CGF depends on boards tailoring it thoughtfully to local laws, resource constraints and cultural nuances. If adopted, it must coexist with established codes throughout the continent, national listing rules and industry-specific regulations. Ultimately, effective governance requires more than adopting frameworks. It calls for continuous evaluation, adaptation and a willingness to refine practices in response to evolving realities. As this governance conversation unfolds, I leave readers with four questions to stimulate reflection: 1. Does our framework align purpose with performance in locally relevant ways? 2. Are we investing in culture and values, not just in controls? 3. Do our mechanisms enable real accountability or merely tick boxes? 4. Does our governance vocabulary bridge global standards with local realities? The answers may well determine whether we are governing for compliance, or for continuity, complexity and change. Nqobani Mzizi is a Professional Accountant (SA), (IoDSA) and an Academic. Image: Supplied
New Indian Express
14-06-2025
- Business
- New Indian Express
CGF committee approves 297 works worth Rs 72.47 crore
HYDERABAD: The Common Good Fund (CGF) committee, which met here on Friday, approved 297 works to be taken up with an estimated cost of Rs 72.47 crore. Endowments Minister Konda Surekha, who attended the meeting, directed the executive officers (EOs) of various temples to follow the guidelines issues by the state government while executing the works. 'There should not be any negligence in grounding the works,' he said while directing the officials to send all necessary proposals for the works at one go. The minister also said that estimates received from local leaders or people's representatives should not be forwarded as it is. The EOs should conduct comprehensive field visits and prepare realistic project assessments after thoroughly inspecting the proposals received from the people's representatives, she added. Instructing the officials to utilise CGF funds judiciously, she opined that the efforts of executive officers and senior officials were crucial in developing the temples. The officials briefed the minister about the funds needed for small temples. She held a detailed discussion with them regarding budget approvals and the requests received for CGF allocations.
