Corporate governance

Provides details about corporate governance.

Council meetings

The Act requires that the VVC must meet at least eight times each year. The VVC held 11 meetings during the period between 1 July 2021 and 30 June 2022.

Committee structure

The VVC has established two permanent committees to facilitate the performance of its functions under the Act. It also formed working parties to oversee the VVC website, the Veterans Sector Study and the ESO Summit.

Funding Sub-Committee

The Funding Sub-Committee is responsible for the development and annual review of the grant guidelines for the Victorian Veterans Fund and the ANZAC Day Proceeds Fund. It assesses applications for both funds and makes funding recommendations to the VVC for grants from both funds.

During 2021–22, Dr Ross Bastiaan chaired the Funding Sub-Committee until 25 March 2022. Mr Daniel Cairnes was appointed as a member of the Funding Sub-Committee on 21 July 2021, and as its Chair from 6 April 2022.

The other members of the Funding Sub-Committee during the year were Mr John McNeill from 17 November 2021, Ms Lucy Saaroni from 23 February 2022, and Ms Jo-Anne O’Brien from 30 June 2022. Wing Commander Sharyn Bolitho was a member until 7 October 2021, and Ms Kim McAliney until 27 October 2021. The Funding Sub-Committee met on two occasions during the year.

Governance Sub-Committee

The Governance Sub-Committee is responsible for ensuring the VVC complies with all financial and legal requirements under the Act and any other relevant legislation. The Governance Sub-Committee is also responsible for governance of the six patriotic funds for which the Council is Trustee, and the development of the VVC annual report.

During 2021–22, Mr Bruce Mildenhall chaired the Governance Sub-Committee. Other members of the Governance Sub-Committee during the year were Lieutenant Commander Pelagia Markogiannakis, Mr Ken Tsirigotis and Mr Glen Ferrarotto (from 7 December 2021). 

The Governance Sub-Committee met on two occasions during the year to oversee VVC’s administration of patriotic funds and associated investment accounts.

Secretariat support

The Office for Veterans within the department provided secretariat support to the VVC and both subcommittees, as well as to the VVC website and ESO Summit working groups.

Audited financial records

The VVC financial results are aggregated into the department’s financial statements, pursuant to a determination made by the Minister for Finance under section 53(1)(b) of the Financial Management Act 1994. The department’s financial statements can be found on the department’s website.

On 6 September 2018, the VVC applied to the Minister for Finance seeking a full exemption from the Standing Directions of the Minister for Finance under the Financial Management Act. On 1 October 2018, the Minister for Finance approved this application, exempting the VVC on an ongoing basis from compliance with all requirements of the Standing Directions.