Prescribed Bodies Corporate (PBCs) (also known as Registered Native Title Bodies Corporate, RNTBC) have the important role to hold or manage native title on behalf the native title holders, and so much more. These corporations are tasked with ensuring compliance with relevant state and federal laws, managing native title business such as negotiating agreements and contracts, securing grant funding, community engagement and much more.  

During 2023 Jamukurnu-Yapalikurnu (JYAC) investigated opportunities to enhance their financial resources. In July 2023 they began working with Central Desert subsidiary, Desert Accounting and Business Support (DABS).

Martu ngurra (Country), which includes Karlamilyi National Park, stretches across more than 152,000 square kilometres of traditional country. The determination area which JYAC holds in trust is vast, with a mix of resource projects, communities, an Indigenous Protected Area (IPA) and exclusive possession native title.

Operationally JYAC makes intelligent decisions about how to use their resources and expertise to advance Martu interests and generate value and wealth from their land. Interim CEO Rewi Lyall said, in seeking a financial services provider, some key things were essential to fit their needs including timeliness, accuracy and compliance with accounting standards.

“JYAC has a strong preference for working with businesses and not-for-profit organisations, and DABS’ parent company’s (Central Desert) long association with Martu was influential. But ultimately it came down to value for money, which DABS delivers,” Mr Lyall said.

JYAC required DABS to provide comprehensive financial services, including budgeting, financial modelling, payroll management, and accounts management, as well as end-of-month and end-of-year accounting to ensure compliance with regulatory requirements and accounting standards. This also involves attending corporation meetings to present financials to members.

A growing number of PBCs own or control separate entities. The 2019 AIATSIS PBC Survey found that almost half of the PBCs surveyed had entities (companies or corporations) “ranging from a single ranger or land management program to a multi-service delivery entity for economic development.”

One of the first tasks DABS undertook for JYAC was to establish separate accounts and ledgers for their subsidiaries. This provided greater clarity for cash flow, financial management and business modelling for the subsidiaries, PBC operations and revenue collection related to agreement implementation.

With many PBCs operating with very low-to-medium incomes, delays in agreement payments, be it grant funding, government or industry agreements, can put corporation solvency at risk. When it comes to industry (aka proponent) agreements, often mining related, additional legal aspects and knowledge needed to be accounted for and monitored. For example, who are the tenement holders on your country? When miners change, agreements need to be checked again, which adds to the complexity of the job.

Finance and Administration Officer, Diana Carvajal, said JYAC’s collegiate working relationship with DABS has led to exploring more opportunities for efficiency, such as DABS taking on agreement implementation for JYAC.

“We’re keen to trial this process and see if it delivers a more streamlined and efficient approach to managing our cashflow. We want our in-house capacity directed at chasing new revenue and acquittals, while we’re hoping DABS can assist with the churn of day-to-day receivables and payables,” Ms Carvajal said.

Complex agreements aside, PBCs are essentially not-for-profits (NFPs), with additional compliance requirements to various acts and legislation. DABS staff are all experienced in NFP across different industries with the ability to draw on case experience to be applied to PBCs, as well as servicing non-PBC not for profits.

“DABS has consistently exceeded our expectations in terms of customer service. They are approachable, always willing to assist, and quick to offer solutions and alternatives when issues arise. Their team is also generous in sharing their expertise. They’ve provided valuable insights and made important recommendations,” Ms Carvajal said.

“Their changes have improved processes ranging from debit card acquittals and travel allowances to performance management reporting. Additionally, they’ve helped us manage projects more efficiently from an accounting perspective. This has greatly enhanced our financial oversight and project management.”

Thank you to Jamukurnu-Yapalikurnu Aboriginal Corporation for collaborating on the story.

For more on DABS and what they do, visit here.