Good Governance Program: Central Land Council & Central Australian Aboriginal Corporations
MLCS Corporate along with the Central Land Council, Granites Mine Affected Areas Aboriginal Corporation (GMAAAC) and Kurra Aboriginal Corporation (Kurra) have been working together since 2017 to develop and deliver the Good Governance Program (GGP).
MLCS Corporate developed a tailored program to meet the needs of the Corporations.
The GGP was initially a three-year project working with each of the Corporations to deliver a training program incorporating training on Corporate Governance and the investment of Corporation funds.
Three workshops were delivered each year for both corporations with each workshop being delivered over 2 – 3 days. Due to the success of the program both of the Corporations have decided to continue the program for a further three years.
Central Land Council & GMAAC
GMAAAC and Kurra have accumulated substantial funds as a result of payments received from the Granites Gold Mine. The objective of the program was to build the capacity of each Board to have an understanding of and develop confidence in investing the Corporations funds into a number of different asset classes. The appropriate investment of these funds will allow the Corporations to continue to receive income and deliver community programs long after the closure of the mine.
A number of participatory small group activities were developed by MLCS Corporate in order to assist with learning, particular in the areas of understanding the Corporations Rule Book, Corporation Structure, Duties of Directors and Financial Understanding. Further participatory exercises were developed and delivered to outline the steps involved in investing, types of investments and how to select a financial advisor.
The next phase for each of the Corporations will instigate a process to select a suitable financial advisor to begin the investment of their finances. The Boards will then be responsible for selecting their Advisor and working with them to monitor and evaluate the investment of funds.
The program also included an on-going evaluation conducted by an external consultant after each workshop to continuously improve the delivery and development of training materials. As a result, a number of governance training workbooks and activities were developed to assist with the learning.