TRUSTEE’S ANNUAL BUDGET

Each financial year the Trustee must prepare the Trustee’s Annual Budget which includes the Annual Operations Budget, the Annual Special Projects Budget, and the Trustee Expense Budget.

The Trustee prepares the Annual Budget having regard to the Budget Principles. The Trustee must provide the Annual Budget to the Noongar Corporations, Noongar Advisory Company, Investment Committee and the WA Government (only during the first 12 years).

A minimum of 70% of the total Operations Funding allocated for the Noongar Corporations in a financial year must be available for allocation to the Regional Corporations.

The Trustee consults with the Noongar Advisory Company and the Noongar Relationship Committee about the Trustee Expense Budget and must prepare a report if it exceeds the Trustee Expense Budget setting out why that happened and what the Trustee will do in the future.