The accounts also confirm what the council told the Observer in May, following a lengthy Freedom of Information wrangle, that Mr Carruth's remuneration in 2018-19 was made up of salary of PS83,652, expenses of PS353 and a severance payment
The shares payable as severance payments
or as rewards for each performance period under share-based incentive plans will be repurchased during certain defined periods after board approval of the financial statements of the company for the years 2018, 2019 and 2020 respectively, and commencing on 18 April 2019 at the earliest, and conveyed to the participants in the plan after the end of each such repurchase period.
Although Mr Rogers received a smaller severance payment
of PS118,231 his pension contributions for the year totalled PS369,826.
The company made severance payments
to the employees whose employment was involuntarily terminated.
Two recent appellate court decisions came to opposite conclusions on the question of whether severance payments
are subject to FICA.
Quality Stores, Inc., deciding that severance payments
employers made to laid-off employees are "wages" and are taxable under FICA.
The Treasury approved 1,053 special severance payments
totalling PS28.4m in the three years to March 2013 but this does not include pay-outs by "local government, the police, the BBC, and private sector providers of public services".
Following the closure of certain prep schools due to an education reform in 1997, the employees were awarded severance payments
by the Supreme Court of Appeals.
The paper disclosed that Philip Lee, who was in charge of the unsuccessful merger with the Britannia Building Society, and Michael Fairbairn, the banks former chief risk officer, were paid GBP1.1m in severance payments
Therefore, the speculation about severance payments
was just that - and certainly not factual either.
In a statement, London's Metro police said they are gathering information following allegations of misconduct in public office and fraud related to severance payments
at the BBC.