The Directors submit the Bundanon Trust (The Trust)'s financial report for the financial year ended 30 June 2020.
The names of the Directors in office at the date of this report are Ms Jennifer Bott (Chairman), Ms Michelle Bishop, Ms Holly Byrne, Mr Sam Edwards, Mr Tony Emery, Ms Anne Flanagan, Mr Mark Tucker and Professor Paul Wellings.
The principal activities of the Trust during the financial year were the promotion of the arts and the preservation of the natural and cultural heritage of the Bundanon properties located in Illaroo, NSW.
The net operating result for the year ended 30 June 2020 was a surplus of $3,729,803 compared with a surplus of $468,963 for the 2019 financial year.
Review of Operations
In 2019-20 Bundanon Trust provided access to the creative and educational opportunities of the Bundanon properties and collection and continued work to preserve the natural and cultural heritage of Bundanon.
The Trust has undertaken the following activities:
- A program of on-site activities, including concerts, talks and events, open days and educational and recreational tours which engage the public in the arts and encourage access to the Bundanon properties.
- An artists in residence program that presents opportunities for serious creative endeavour by artists in all art forms whilst resident within the Bundanon properties. Over the past year 128 artists and scholars were in residence, from across Australia and overseas. Partnerships with national and international arts companies were maintained and new links consolidated across the arts and sciences.
- An education program that provides the opportunity to extend the creative and educational potential of young people, and to complement formal curricula. An ongoing regional program; partnerships with nationally acclaimed artists, arts companies and Indigenous communities continued this year.
- The Trust continued a partnered environmental project “Landcare Living Landscape” that spans over five years of operation.
- The management and maintenance of the collections, in accordance with the Trust's collection policy, and access to the collections through exhibitions and research. Bundanon’s major travelling exhibition Arthur Boyd: Landscape of the Soul toured to Ipswich Art Gallery in Queensland and the Shepparton Art Museum in Victoria.
- Construction of the Trust’s Riversdale Masterplan has commenced with early works from January and the appointment of a main works contractor in June.
- The Trust continued to attract the support of Local Government and funding from Federal and State Government, universities, community organisations and foundations and individual benefactors.
The operations of the Trust during the second half of the year have been severely impacted by bushfires, floods and COVID-19. All sites were closed during the severe bushfire period, opened briefly, then once again closed by flooding. This was promptly followed by the closure due to COVID-19, with the eventual reopening affected by travel bans and the restrictions placed on schools.
Governance and management
There was one change to the membership of the Board in 2019-20.
- Ms Michelle Bishop was appointed as a Board member for three years from 28 April 2020.
The Audit and Risk Committee met four times during the reporting period. The Committee was chaired by Mr. David Willcocks, former KPMG Australia Partner, as a pro bono service.
The Directors of the Board serve part-time and receive no remuneration for their services. They give generously of their time and expertise to assist in the development of Trust.
The Minister for Communications, Cyber Safety and the Arts, the Hon Paul Fletcher MP, was the Minister responsible for the period of this report.
Under section 93 of the Public Governance, Performance and Accountability Act 2013 (PGPA Act), the Finance Minister may make government policy order, after consultation with the Minister responsible for the order – that applies to wholly-owned Commonwealth companies.
There has been no application of section 93 of the PGPA Act in this year.
Indemnities and insurance premiums
Indemnity is provided to directors of the Board under the coverage of the Bundanon Trust’s insurer, Comcover, which is an Australian Government self-managed fund for insurable risk. Premiums are levied as part of the overall insurance coverage and are based on the agreed insurance value and previous claims history.
Commonwealth disability strategy
The Trust has a continuing commitment to implementing the Australian Government’s disability strategy.
Significant changes in the state of affairs
There were no significant changes in the state of affairs of the Trust during the year.
Matters subsequent to the end of the financial period
At the date of this report no other matter or circumstance has arisen since 30 June 2020 that has significantly affected or may significantly affect the operations of the Trust, the results of the operations or the state of affairs of the Trust.
As at 30 June 2018, NSW Regional and Cultural Funding of $8,592,226 had been granted towards the construction of the Riversdale Masterplan project. Further capital funding of $22,500,000 for the completion of the Riversdale Masterplan
project was granted by the Federal government in January 2020. These grants have been partially paid and work has commenced. The main building works contractor, ADCO Constructions was appointed in June 2020. The balance of these grants totalling
$21,155,379, will be paid throughout the year ended 30 June 2021 and project payments aligning with these grants will be payable over the next twelve to eighteen months.
The impact of COVID-19 on the Trust's operations has been significant and as a wholly owned Commonwealth company, the Trust is not eligible for JobKeeper payments. The closure of the Riversdale site during construction and COVID-19 federal grant funding to support the Trust during the initial JobKeeper period has reduced the potential impact for the short term.
No other likely developments were identified.
As a cultural organisation based within a natural landscape, the Trust’s operations are impacted by a variety of Commonwealth and State environmental legislation relating to Heritage, Biodiversity and Aboriginal Heritage amongst other matters. The Trust maintains an active program of protecting fauna on its sites and has an ongoing scheme of replacing introduced and weed species of plants with indigenous native flora. In the planning and construction of the Masterplan, it has obtained all necessary permits related to environmental and heritage requirements and is working towards a new set of facilities guided by the principles of energy savings and resource efficiency.
Meetings of directors
There were eight meetings of the Board in the year ended 30 June 2020. Information concerning the terms of appointment of all directors who served during the year, the number of Board meetings each was eligible to attend and the number attended follows.
Directors at the time of this report
Date of Appointment
Date of resignation
Ms Jennifer Bott AO (Chairman)
Ms Michelle Bishop
Ms Holly Byrne
Mr Sam Edwards
Mr Tony Emery
Ms Anne Flanagan
Mr Mark Tucker
Professor Paul Wellings CBE
Directors who held office but resigned or terms lapsed
There were no resignations or lapsed positions in the reporting period 2019-20.
Information concerning the Directors in office at the date of this report follows:
Qualifications of the Director
Experience of the Director
Position Title / Position Held, Executive/Non-
Date of Commencement
Ms Jennifer Bott AO
Jenny Bott is a professional mentor, arts manager, board director and consultant. She serves as a Trustee of the Australian Museum, a Director the Australian National Academy of Music, the Southern Highlands Foundation and the Sydney Orthopedic Research Institute. She is a member of Chief Executive Women. She is the former Chair and CEO of NIDA, former CEO of the Australia Council for the Arts and the UNSW Foundation and has held senior roles at Opera Australia, Musica Viva Australia and the National Portrait Gallery.
Ms Michelle Bishop
Master Management, Adv Diploma Interior Design
Michelle Bishop is a Tourism Industry professional and General Manager of Bangalay Luxury Villas at Shoalhaven Heads. Michelle also serves as a committee member for the South Coast Tourism Industry Association.
Ms Holly Byrne
GradDipPsych, GradCertMigration Law & Practice
Holly Byrne is the founder of HB Migration Pty Ltd and has over 10 years’ experience in Australian immigration law and practice. Holly previously worked with the Australian Government as a Ministerial Adviser to the Minister for Immigration and Citizenship and the Minister for Employment and Workplace Relations and the Minister for the Arts. Her role included developing public policy relating to immigration and industrial relations and the Arts. Holly is a current national committee member of the Migration Alliance and a former national vice-president.
Mr Samuel Edwards
BSc (Hons), MEngSc (Civil), LLM, MIEAust,
CPEng NPER (civil), BM
Sam Edwards is a Chartered Professional Engineer, with qualifications in Building, Engineering and Law. He has chaired, or been a director on, a number of corporate and Government boards and sat on advisory committees for Government. Sam is the Managing Director of a commercial construction firm. He lives locally and has an enduring interest in the arts, skills in governance, contracts and construction, as well as practical experience in community and public facility stewardship.
Mr Tony Emery
Tony Emery is a long-standing Board member from the local Shoalhaven community. He has had a long involvement in Shoalhaven and Illawarra Industry and Business organisations and is a Managing Director of Soilco. He received the 2015 Award for Leadership on recycled organics from his industry peers. Tony is currently a committee member of the Shoalhaven Business Chamber and was formerly a Director of the Australian Organic Recycling Association and Chair of the NSW Branch.
Ms Anne Flanagan
DipVisArts, DipEd, DipIntDes, RMIT Fellowship
Anne Flanagan is currently on the board of the Biennale of Sydney and a member of the Project Control Group and Steering Committee for Sydney Modern, the major expansion of the Art Gallery of New South Wales. Previously Anne was Deputy Director of the Art Gallery of NSW responsible for exhibitions and major capital project delivery including the Asian gallery, a 'state of the art' collection store and the masterplan for the Gallery expansion. Anne has over thirty years working in key arts organisations including the Crafts Council of NSW, Powerhouse Museum, Biennale of Sydney, Historic Houses Trust of NSW and Australian Bicentennial Authority.
Mr Mark Tucker
Mark Tucker is a former Deputy Secretary in the Australian Public Service, with more than 25 years’ experience working in the Departments of Agriculture, Environment and Heritage, Arts and Sport and Prime Minister and Cabinet. His early career was as a research scientist including appointment to the 1982 Australian National Antarctic Research Expedition. Mark has been a member of the Board of the National Portrait Gallery, the Advisory Council to Old Parliament House and the Board for the Centre for Australian National Biodiversity Research.
Professor Paul Wellings CBE
BSc (JntHons), MSc, PhD, Hon DSc, Hon DUniv
Professor Paul Wellings assumed the post of Vice- Chancellor of the University of Wollongong in January 2012. He was Vice-Chancellor, Lancaster University from 2002 -2011. Educated in the UK, Professor Wellings’ career experience includes a NERC research fellowship and senior positions at the CSIRO and Department of Industry, Science and Resources. He has extensive board experience, including with the Australian Research Council (ARC) Advisory Committee, the Australian Nuclear Science and Technology Organisation (ANSTO), the Australian Centre for International Agricultural Research (ACIAR), and some of the UK’s peak education and research bodies. He is currently a board member of the University of Wollongong Global Enterprises and Trustee of the University of Wollongong USA Foundation. Professor Wellings also serves on the Ministerial Advisory Council for Free Trade Agreements, NSW Innovation and Productivity Council, NSW Domestic and Family Violence and Sexual Assault Corporate Leadership Group and the Global Foundation Advisory Council.
Mr Atul Joshi
Atul Joshi is the Manager, Corporate Services, for Bundanon Trust. He has worked in arts management for almost 30 years, as General Manager of the State Theatre Company of SA, Griffin Theatre Company, Playwriting Australia and Sydney Philharmonia Choirs, as well as Director Key Organisations for the Australia Council.
Signed in accordance with a resolution of the Board of Directors