Far West Coast Aboriginal Corporation Governance
The Management of FWCAC is through a 12 person Board of Directors. Each of the 6 cultural groups holds 2 Director Seats for a 2 year term, with 1 seat vacated and subject to election annually. Directors follow a schedule of meetings and are committed to carrying out the objectives, functions and powers of the Corporation as set down in The Rulebook (ORIC ICN:7985). See Directors listing below.
Representation
As a PBC; the FWCAC represents 1650 plus, members as Native Title holders with rights and interests in the Far West Coast lands and waters. Membership services are delivered from the Ceduna office. The FWCAC does not represent other Aboriginal bodies, organisations, groups or communities generally. Rather, it represents all of the proponents of those Aboriginal bodies, organisations, groups, homelands and communities – the Far West Coast Aboriginal Peoples themselves, specifically.
FWCAC’s Governance
FWCAC Governance is managed at the Corporation level, with staffing in corporate services, administration and finance to support the 12 Director Board, community consultations, membership services, heritage and native title. See the Director Listing below.
FWCAC is compliant with ORIC and is committed to maintaining compliance in governance and accountability. FWCAC uses a professional accountancy and auditing service for outsourced book keeping. It maintains internal staffing for all governance, all Member service requirements and annual reporting. A range of other services including heritage and ancestry have also been developed for FWCAC Members.
The FWCAC Governance and Member Service Model demonstrates FWCAC’s achievements in setting up separate entities for the achievement of Corporation objectives, specifically in financial security via the Far West Coast Aboriginal Community Charitable Trust (FWCACC Trust), and economic development via the Far West Coast Investments (FWCI) as a business and investment arm, and Far West Mining and Civil (FWM&C) as a business in its own right – with a discretionary Trust for limited economic investment. Profits from all business interests are invested in the FWCACC Trust.
FWCAC is the shareholder of FWCI. FWCI is a separate company formed (ASIC registered) with the purpose of developing economic opportunities for investment and returning profits to the FWCACC Trust. FWCAC has chosen to invest financial returns from original investments, business interests, continuing royalties and settlement funds in its own financial Trust (FWCACC Trust).
FWCI manages the FWCACC Trust. It has 6 Trustee Director Positions for the management of annually released funds both for FWCAC Operations and distributions for charitable purposes to FWCAC Members.
This effective and clear structure has enabled FWCAC and its group of entities to make our invested funds provide a financial return. The eventual aim is to be financially independent past the life of any mining activity and be able to continue charitable distributions to our Members.
Recently a building was purchased for the purpose of investment – surplus office space is leased out, and FWCAC is based there along with FWCI and the FWCACC Trust. FWCAC Members assistance and services can be accessed at this office, as well as a large meeting space. The building is in the main street of Ceduna and has become a hub for service access and referral, Aboriginal investment, future prosperity and consultation for the region.
How is it funded?
The FWCAC is self funded from the interest earned from investments, mining royalties, the State Native Title Settlement and profits from investments. It holds these funds in the FWCI managed 100% Aboriginal owned and managed Trust, the Far West Coast Aboriginal Community Charitable Trust.
How often does the FWCAC Board of Directors meet?
The FWCAC have an annual meeting schedule of 4 face to face meetings and 4 phone meetings per annum. In addition to this there is the Annual General Meeting, there is also the annual meeting of the Shareholder for FWCAC as the Shareholder of FWCI.
Built in to the schedule of meetings are a number of strategic sessions requiring Director input and strategic decision making:
• Review of Policies at the planned review date
• Annual Budget approval
• Annual report draft review and Approval
• AGM planning, Agenda design
• Design of Membership consultation component at the AM
• Setting of planning sessions
• Strategic Planning/ Policy development sessions
• Audit preparation discussion, board review and sign off
• Rule Book Review
• Membership Application assessments
• Staffing and employment contract reviews
The FWCAC Meeting History is contained in the Annual Reports – see the Library page
