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The CFA are the backbone of our organisation. Individually
Churchill Fellows are the inspiration and source of many of
the applications for a Fellowship. Over recent years a stronger
relationship between the CFAs and the Trust itself has
developed to mutual advantage. I thank the Associations for
their dedication to mentoring new Fellows and for “spreading
the word”.
This reporting year has seen a complete cycle under the new
timetable for applications. The anniversary of Collection Sunday,
28 February, was the date from which applications could be
submitted and the application system remained open until the
end of April.
This has avoided the summer holiday period with its
disadvantages in just getting an application finished as well
as locating referees. There has been some adjustment in the
2017 year to allow the whole process, including Vice-Regal
presentations, to occur in the one calendar year. On the whole it
has been a beneficial change. In the 2016 selection year 1,153
applications were received - the most received in recent years.
At its November meeting the Board awarded 106 Fellowships
at a cost of $2,784,712. The average value of a Fellowship was
$26,271 and the average duration for travel was 6.6 weeks – a
vastly different situation from when the early Fellows were
away for six months and sometimes up to a year. The Trust
was comfortably able to fund these Fellowships as well as its
operating costs from its investment income. The fair value of
the Trust’s investment portfolio, defined as available for sale of
financial assets as at 31 January 2017 was $97 million. More
details of the Trust’s financial position may be found in the
Financial Statements elsewhere in this Report.
The Trust’s investment strategy has been overseen by the
Investment, Audit and Risk Committee (IARC) chaired by Dr
Jane Wilson. After a long and generous contribution to the
work of the Trust, the Board farewelled Jane at dinner during its
November Board meeting. Ms Anne O’Donnell, who has been a
member of the Board and on the IARC since 2012, has taken on
the task of chairing the IARC.
Miss Elizabeth Alexander AM retired from the Board at the
AGM in June 2016. She had for some years filled the position
of National President and was a member of the IARC. Her wide
commercial experience made her an excellent resource and a
wise counsellor on the Board.
Justice Jenny Blokland, Director from the Northern Territory,
also stepped down from the Board in November after more than
ten years service. She, too, was honoured at the Board dinner in
November. While she was Chair of the NT Selection Committee
the number of applications increased significantly and a
CFA was established there for the first time. The Board was
delighted to welcome Ms Suzan Cox QC, Director of the Northern
Territory Legal Aid Commission, as Director from the NT.
At the same time the Board was very pleased that Mr Gerard
Bradley, Chair of the Queensland Treasury Corporation, former
Under Treasurer of Queensland Treasury, has agreed to join
the Board under clause 7.1 (d) of the Constitution and is a new
member of the IARC.
As we farewelled with regret our former Board colleagues the
Trust has been reassured that there are men and women of
high calibre who are prepared to dedicate their time and talents
to its important work. The Directors are volunteers, as are panel
and selection committee members. The Regional Secretaries,
who are so important to the effective operation of the selection
process, receive a modest honorarium. I would like to thank
them all for the marvellous contribution they make to the
advancement of the objects of the Trust.
The Board is conscious that many
sponsors of Fellowships rely on the
Trust to select suitable people to be
the recipients of their philanthropy.
Some have a very long-standing
relationship, others are recent
supporters and the Trust thanks
them all for their generous support.”
The Trust has a small, effective workforce at Churchill House
in Canberra under a capable CEO. As I reported last year, on
21 January the Trust’s very long serving CEO, Mr Paul Tys,
announced his resignation. After a thorough recruitment
process facilitated by an external Canberra-based consultant,
the Remuneration and Nominations Committee (RNC)
chaired by Mr David Trebeck short-listed a number of very
strong candidates for interview in May 2016. There had
been a gratifying 300 inquiries about the position. The RNC
recommended two to the Board for final selection and Mr Adam
Davey was offered the position and commenced in July 2016.
Adam has had an extensive Commonwealth public service
career with the carriage of a number of important initiatives
which fitted well with the public benefit principles of the Trust.
The Board is delighted with its new CEO and looks forward to
further development of the Trust under his leadership to take
advantage of the digital world. The transition has been very
smooth.
Again the Trust has been gratified that Vice-Regal office holders
and Administrators throughout the Commonwealth have given
their support to the Trust by presenting the certificates and
Fellowship pins to the new Fellows and offering them, their
families and supporters hospitality. To them and their staff I
express the thanks of all associated with the Trust.
It has been a tremendous honour to have been on the Board
of the Trust since 2003 and National Chair from 2012. The
Directors over those years have been generous participants in
this splendid living memorial and it has been a privilege to share
this task with them.
Churchill Fellows are everywhere “from all walks of life”
making a profound difference to the well-being of our country.
I am quite convinced that this perpetual trust will indeed be
perpetual.
Rewarding Australians Striving for Excellence
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