The Trusts Community Foundation Ltd has committed itself to work more closely with the Government to improve compliance with the Gambling Act.
A recent audit of TTCF Ltd showed few compliance issues but the company, in meetings with Gambling Compliance, has discussed ways of improving the company’s performance and its relationship with the Department of Internal Affairs.
The society has made considerable progress since the Gambling Commission suspended the old TTCF Inc in 2010 for using pokie money to compete for venues and unnecessary entertainment expenditure.
The not-for-profit TTCF Ltd is now returning much more to the community in grant money – the current return to authorised purposes is 46.06%. It is also gradually changing its board of Directors. The company is introducing a retirement rotation policy, as a result of which two directors have retired so far, and licensing trust-nominated directors will be linked to the local bodies’ three year electoral cycle. An independent Director will be appointed to bolster board competencies, skills and diversity.
The new society also now has clearer policy and processes in place to ensure venue operators do not receive credit for TTCFL grants.
Following the windup of TTCF Inc, more than $700,000 was recovered by the Trustees and has been returned to the community funding pool, including previous grants that were not spent on the stated purpose or were no longer needed. These were redistributed as part of the former Trust’s windup including $219,000 to Wellington Neonatal Trust and $489,657.21 to the Totara Hospice South Auckland (to double the size of the hospice).
Internal Affairs Gambling Compliance Director, Debbie Despard, welcomed the approach taken by TTCFL.
“The recovery they have made is a good example of what is expected of a society and the Department looks forward to supporting TTCFL maintain progress.”
Gambits December 2012 Issue