As a not-for-profit-organisation, BGF is held to the same standards as for profit companies in terms of governance, managing risk and Work Health and Safety, financial management and performance and reporting.
BGF continues to manage its obligations in a resourceful and effective manner by updating governance practices, policies and procedures, and administration to improve the organisation’s performance and compliance in the current year and beyond. In particular, Board Governance, Risk and Audit, Work Health and Safety and Human Resources are a focus.
Our activities are underpinned by robust policies and procedures that guide:
Based on the Australian Institute of Company Directors’ publication Good Governance Principles and Guidance for Not-for-Profit Organisations, the Board adopted a new Board Charter that sets out the role and responsibilities of the BGF Board, a framework for best practice corporate governance, and documents BGF’s approach to meeting each of the broad requirements, including any related policy areas.
The charter also addresses the specific responsibilities of office bearers, induction processes and delegations.
The Risk and Audit Committee has regularly meets throughout the year and has oversight of the risk register and the risk management plan. The Committee directs the development of treatments plans for high level risks as they are identified. Additionally, the Committee regularly seeks guidance on the risk appetite of the organisation to ensure the management of risks are appropriate.
The Committee is chaired by the Board’s Vice President, Lorraine Hall. The Risk and Audit Committee membership includes members of the staff and board.
A compliance manual has been created to inform risk management and analysis, policies and procedures, quality management framework, processes and guidelines. The development of this manual was created from a policy review and gap analysis.
BGF has developed a reporting framework to ensure the information and data needed for funding agreements and annual reporting is current and available.