Towards your AGM

A general meeting is a formal meeting of the members of a corporation. Although CATSI Act corporations can hold as many general meetings as they like, there is one general meeting that they must hold—the annual general meeting (AGM). It’s compulsory—once a year.

And now is the time to start preparing for it.

Why is the AGM so important?

A corporation’s AGM is a chance to hear what’s been happening at your corporation over the past year.

It’s a time when members:

• learn how their corporation’s funds have been spent when the financial accounts are presented (on what activities and which projects)
• elect new directors (if applicable)
• choose an auditor (if applicable) and decide on the auditor’s fee
• check that their details in the register of members are correct
• can ask questions of the directors.

When must an AGM be held?

A corporation must hold its AGM by 30 November (unless the corporation has an exemption from the Registrar to hold it later).

When to get ready?

NOW is the time to start planning.

What has to happen before the AGM is held?

Prepare reports: The annual financial accounts (that’s the profit and loss statement, and balance sheet) must be finished. Depending on the corporation’s size and income it may need to have its financial accounts audited and prepare a directors’ report. Also don’t forget the corporation’s general report must be prepared and lodged with the Registrar’s office by 31 December each year.

Set the date and agenda: The people organising the AGM, usually the directors, must decide on a date, time and place for the AGM by passing a resolution. Make sure it’s a date and time that will suit most people. The AGM should be set so as to attract as many members as possible.

Give notice: Members, directors, officers and the auditor must be notified in writing. Usually this means sending out a notice of AGM at least 21 days before the scheduled date. Other ways may also be acceptable—check what the corporation’s rule book says—for example, putting a notice:

• in a shop window
• on a public notice board at the corporation’s office
• in the local newspaper.

Art of AGMs

Fitzroy Crossing, Western Australia: Mangkaja Arts Resource Agency Aboriginal Corporation began life as part of Karrayili Adult Education Centre. The centre started in 1981 to help interested local people improve their English language skills. For many years it operated from a modest concrete and tin structure on the Great Northern Highway known as ‘50 cent house’—so named because its six-sided shape reminded people of a 50 cent coin. It was a quiet place not only for studying but also, as it turned out, for painting. Before long the artists’ work was in high demand from passing tourists and travellers.

Mangkaja is a Walmajarri word for a type of shelter the Walmajarri people put up in the Great Sandy Desert during the wet season.

Today Mangkaja Arts is a fully fledged thriving art centre located in the centre of Fitzroy Crossing with a fine art gallery, specialty store and studio space. While the corporation receives funding from several government agencies it also derives significant income from commissions and the sale of artworks which it ploughs back into operational costs.

For more information: www.mangkaja.com/about

Read more about the road to your AGM.

The Registrar hosted a graduation ceremony on 4 April 2014 at the National Gallery of Australia for seventeen Aboriginal and Torres Strait Islander students who successfully completed a Certificate IV in Business (Governance).

'It was a great occasion,’ said the master of ceremonies and graduate, Selena Lyons-Thompson. ‘As the Registrar presented us with our certificates one by one it was a lovely moment of recognition for all our hard work.’

The students came from different corporations in the Northern Territory, Queensland, New South Wales, Tasmania and South Australia. All found the opportunity to learn together and share knowledge invaluable.

The Certificate IV in Business (Governance) is part of a national accredited training package developed specifically for Aboriginal and Torres Strait Islander people who wish to improve their corporate governance and management skills. It is fully funded by the Australian Government through ORIC. For more information: www.oric.gov.au.

Does your organisation determine and drive positive change in your community? Is it courageous, creative and effective?

Then apply for the 2014 Indigenous Governance Awards. And show everyone what great governance is!

The awards recognise the best and fairest Aboriginal and Torres Strait Islander organisations, projects and initiatives from around the country.

Apply now at www.reconciliation.org.au/iga or call 02 6273 9200.

Applications close 30 May 2014.

REPORTS OVERDUE?

Don’t delay. Lodge your 2012–13 reports today.

Go to www.oric.gov.au for further information (look under ‘Run a corporation’ on the top menu bar and click on Lodging reports).

If you need help with your reports contact ORIC immediately.

Is your corporation in breach? Check the list on the ORIC website.