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.
The Board Article 6.1 provides the power of appointment of directors to the Minister administering the Australian Sports Commission Act 1989 (Cth). The Board comprises five 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 Chief Executive Officer reports to the Board and is supported by executive staff members who have expertise in finance, fundraising and marketing
The Board is supported by the Finance, Audit and Risk Committee chaired by a director and three independent members with assurance, risk and legal expertise.
The Board chair nominates members to this committee based on the requirements of the Public Governance, Performance and Accountability Act 2013 (Cth). This Committee meets regularly with the Chief Executive Officer and Head of Finance and oversees the finance and risk activities and policy matters of the Sports Foundation.
This Committee does not have decision making authority as this rests with the Board pursuant to the Sports Foundation’s Articles of Association. The Chair of the Finance, Audit and Risk Committee reports the activities of the Committee to the Board each time it meets.
The Sports Foundation maintains a high standard of corporate governance practices to ensure there are appropriate levels of disclosure and accountability. All members of the Board and the Finance, Audit and Risk Committee are appropriately qualified.
Each Director and member of the Finance, Audit and Risk Committee are subject to performance review by the Chair of the Board and Chair of the Finance, Audit and Risk Committee annually.
In addition, the Sports Foundation maintains appropriate ethics and risk management policies to assist in the administration of the activities and practices and these are subject to regular review.
For the 2017-2018 reporting period, the Hon. Bridget McKenzie was the Minister responsible for Sport.