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Governance

Trustee

The Public Trustee and Guardian is appointed as Trustee for GreaterGood by the:

The Public Trustee and Guardian is the legal entity underpinning GreaterGood. The Trustee’s responsibilities are established under Common Law, as well as the Trustee Act 1925 and the GreaterGood Deeds. The Trustee is not a member of the Board, but is represented on the Board. The Trustee has traditional statutory powers and has overall responsibility for the legal, accounting and financial framework and governance of the Gift Fund and Open Fund including:

  • appointing the Board;
  • day to day administration of the Funds;
  • investing Trust moneys;
  • notifying the Board of the List of Eligible Recipients and Designated Charities;
  • making payments and distributions;
  • amending the Trust Deeds; and
  • appointing an auditor.

Investment management is undertaken by the Public Trustee and Guardian through its five Common Funds into which all investment funds are pooled.

Board

The Board is comprised of persons with a degree of responsibility in the community who contribute their time and expertise on an honorary basis.

The formal role of the Board under the Deeds is limited to:

  • considering the needs of eligible recipients and designated charities;
  • considering applications for grant or allocation on income;
  • recommending to the Trustee, the yearly allocation of income and capital of the Funds to eligible recipients and designated charities; and
  • undertaking responsibility to the community.

Other non-governance roles of Board members include:

  • promoting GreaterGood in the community;
  • acting as ambassadors for GreaterGood;
  • participating in the development of strategies for GreaterGood;
  • assisting the Trustee as required in the distribution of income to eligible recipients and designated charities.

Auditor

The Deeds appoint the ACT Auditor-General to undertake annual audits of the financial statements of the Funds.