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Appendix A: Corporate Governance Statement

CORPORATE STRUCTURE
The Australian Sports Foundation is governed by a Memorandum and Articles of
Association, the current version of which was adopted by resolution of the members on
20 April 1998.

Article 6.1 provides the power of appointment of directors to the Minister administering
the Australian Sports Commission Act 1989 (Cth). The Board currently comprises six
non-executive members with terms of appointment not exceeding five years. The Board
oversees and approves the operational and strategic activities of the Sports Foundation
and meets four times a year.

The Sports Foundation has established a subsidiary company, ASF Community Sports
Fund Pty Ltd, which is controlled by the Sports Foundation Company, as it shares
common Directors. The purpose of this entity is to act as the Trustee Company for the
Australian Sports Foundation Charitable Fund (ASFCF). ASFCF is registered with the
Australian Charities and Not For Profits Commission, and is a Deductible Gift Recipient
(DGR).

The Chief Executive Officer and management of the Sports Foundation oversee the
operation of all entities within the group, reporting to the respective Boards.

FINANCE, AUDIT AND RISK COMMITTEES
Each entity has a Finance Audit and Risk Committee, comprising a Chair, who is also a
Board member, and at least two independent members.

The Board Chair nominates members to these Committees in accordance with
appropriate governance principles, including requirements of the PGPA Act. These
Committees meet regularly with the Chief Executive Officer and Financial Controller
and oversee the finance and risk activities and policy matters of the Sports Foundation
Group.

The Committees do not have decision making authority, which is vested in the
respective Boards.

The Chair of the Finance, Audit and Risk Committee reports the activities of the
Committee to the relevant Board each time it meets.

Throughout the 2020 financial year, Sports Foundation Director, Ms Kim Brennan,
Chaired the Finance, Audit and Risk Committee.

The independent members of the Finance, Audit and Risk Committee during the year
were Mr Rodney Balding, Mr Jason Agnoletto and Mr Bob Sellwood:
■ Mr Balding is a qualified accountant and a Partner of Financial Services Assurance
at PwC;
■ Mr Agnoletto is qualified accountant and a National Leader of Internal Audit
Services at PwC; and
■ Mr Sellwood is currently a Managing Director at BTG Group and has expertise in IT
and BPO Sourcing. Mr Sellwood also has an MBA from Melbourne Business School.

EDUCATION AND PERFORMANCE REVIEW
The Sports Foundation Group maintains a high standard of corporate governance
practices to ensure there are appropriate levels of disclosure and accountability. All
Board and Finance Audit and Risk Committee members are appropriately qualified, and
are subject to performance reviews by the Chair of the Board or Chair of the Committee
annually.

ETHICS AND RISK MANAGEMENT POLICIES
Sports Foundation Group maintains appropriate ethics and risk management policies
to assist in the administration of the activities and practices and these are subject to
regular review.

PRIVACY AND DATA MANAGEMENT
The Sports Foundation Group Privacy Policy can be found on its website and complies
with Privacy Breach Notification Law.

MINISTERIAL DIRECTION
For the 2019-20 reporting period, the Hon. Richard Colbeck was the Minister
responsible for Sport. Senator the Hon. Richard Colbeck was appointed Minister for
Sport with effect from 26 May 2019.

KEY MANAGEMENT PERSONNEL (KMP) REMUNERATION
Remuneration levels of all ASF staff (including KMP) are based the following factors;
market rate for the role; the employee’s skills, experience and qualifications; and the
achievement of individual and organisational KPIs. In accordance with ASF’s policies
and procedures, staff performance reviews are undertaken annually with consideration
to any remuneration increase based on the abovementioned factors. The CEO’s
remuneration is approved by the ASF Chairperson. ASF’s CEO determines and approves
the remuneration of all other ASF staff in consultation with the appropriate line
managers.