You’re invited to join BUSSQ’s Annual Members’ Meeting (AMM) for the 2023 financial year

This is an opportunity for you to hear from our Board and Executive team on how the Fund has performed and the outlook for the year ahead, and ask questions about the performance and operation of your Fund.

Date: Wednesday, 21 February 2024
Time: 12.00pm – 1.00pm (AEST) 
Where: Online

Agenda

How to register
You will need your member number to register. This can be found at the top of your invitation or by calling us on 1800 692 877. 

 
Registrations and pre-submitted questions close at 4pm (AEST) on Thursday, 15 February 2024.

Questions
You can submit questions via the online registration. If we can’t answer all questions during the meeting, we’ll provide written responses with the meeting minutes, which will be available on the BUSSQ website within one month of the meeting. 

Video and minutes
For those who are unable to attend, we’ll have the video recording and minutes of the meeting available on our website within one month of the AMM.

Additional information

The following information is provided in accordance with superannuation law.

Short form expenditure summary for the 2022/2023 financial year:

Expense Category	Total ($)
Aggregate remuneration expenditure	2,596,720
Aggregate promotion, marketing, or sponsorship expenditure	1,536,633
Aggregate political donations	0
Aggregate industrial body payments	870,911
Aggregate related party payments	866,429

Notes to the short form expenditure summary for the 2022/2023 financial year:

The expense categories are defined in the law so that some expenditure is required to be disclosed in multiple categories. This means, that some expenditure is included in more than one expense category and total expenditure is overstated.

Remuneration expenditure includes fees paid to Directors and Executives.

Promotion, marketing or sponsorship expenditure includes design, production and distribution of the Fund's promotional and educational materials, advertising and media, events, and sponsorships. This expenditure is necessary to grow the Fund and increase scale. This helps keep fees as low as possible. 

Political donations - BUSSQ does not make political donations.

Industrial bodies are organisations registered under the Fair Work (Registered Organisations) Act 2009, for example, union and employer organisations. Payments may include some Directors’ fees and promotion, marketing and sponsorship expenditure.

Related party payments include when payments are made to BUSSQ subsidiary entities, for services purchased from an organisation in which BUSSQ also invests, or when a Director or Executive of BUSSQ is a Director or employee of an entity which provides services to BUSSQ, or when an associated entity of such an entity provides services to BUSSQ. Payments include promotion, marketing or sponsorship expenditure, Directors’ fees, arrears collection and other member services.

More information

The following information will be added before the AMM. Documents will be hyperlinked as they become available.

• Summary of significant event notices and material changes for the 2021/22 and 2022/23 financial years

• Remuneration details of 2023 Directors and Executives

• The most recent Annual Report 

• The most recent Member Outcomes Assessment determination

• Detailed expenditure and payments for the 2022/2023 financial year including promotional, marketing and sponsorship contracts and payments, industrial body payments and related party payments.

You can access your 2023 Annual member statement by logging into your online account or call us on 1800 692 877.