Board Communique April 2024
Dear Members
Principals Australia Research Foundation Ltd’s (PARF) Board met at the Ainslie School, Braddon on Wednesday 20 March. The agenda included 4 key matters:
1. Director administration
2. Investment portfolio review
3. Endorsement of Operational Plan for 2024
4. Research and Development Funding update.
Director administration
Following PARF’s AGM on 20 March, a changed Board met comprising re-elected Dennis Yarrington, nominated by the Board, newly elected Angela Falkenberg, nominated by APPA, and Jayne Heath, nominated by ASPA, plus continuing Directors Dr Ian Anderson, Garry Brown OAM, Michael Hall and Ros Oates. As required by rule 19.4 of the constitution, the Board elected office bearers with Dennis Yarrington continuing as Chair and Michael Hall continuing as Deputy Chair.
The Board appointed 2 Directors as the Finance, Investment & Audit Committee: Garry Brown (chair) and Michael Hall. The Board appointed 3 Directors as the Research & Development Funding Panel: Ian Anderson (chair), Jayne Heath and Ros Oates. The Board discussed potential future Directors to bring targeted capabilities to the Board and succession planning for Board renewal.
Investment Performance Review
The Board was presented the report from and by the external expert reviewer of the investment portfolio and management performance. The Board resolved to implement recommendations on meeting with the Investment Manager and adjusting target performance measures. The Board will conduct a further review of the investment management at the beginning of 2026, as the 7-year assessment period for return performance under the management contract approaches.
Operational Plan 2024
The Board noted and discussed the proposed Operational Goals for Board Year 2024.
Research and Development Funding
The Board noted the funded research project by Tasmanian Principals Association had received ethics approval, allowing the research to commence shortly.
The Board also received a presentation from the project leader for the Western Australia Secondary Schools Executive Association’s research project. The report is available on the PARF website.