❓ WA Parliamentary Question on Notice regarding the Resources Community Investment Initiative (RCII), seeking details on committee meetings, funding, company participation, and agreements. The response provides information on meeting dates, chair's salary, lack of promotional funding, company commitments, and the structure of agreements.
AnsweredQoN 989Legislative Assembly
QuestionView source ↗
I refer to the Resources Community Investment Initiative (RCII): (a) On what dates has the RCII Advisory Committee met since the inception of the RCII; (b) How much is the Chair of the RCII Advisory Committee paid on an annual basis; (c) What funds, if any, have been allocated to the promotion of the RCII to industry; (d) Have any companies in addition to the 8 foundation companies signed up to participate in the RCII: (i) If yes, please advise who has signed up; (e) Have the 8 foundation companies signed a formal contract with the State Government to deliver the funds: (i) If not, what is the nature of the agreement between the State Government and the companies; and (ii) With reference to (e), what are the terms of the agreement or contract, specifically when will the funds will be expended, over what period and when the obligation to contribute will cease; (f) Will the Minister table the agreement, contract or terms of agreement between the Government and the companies; (g) What funds, if any, are currently available in the RCII; and (h) What funds, if any, have been expended from the RCII: (i) If any listed in (h) please outline expenditure?
AnswerView source ↗
Answered
16 April 2024
Response time
7 days
( a) As at 18 March 2024, the RCII Advisory Committee has met on the following dates:
· 28 March 2023
· 20 June 2023
· 12 September 2023
· 19 December 2023
· 29 February 2024
(b) The Chair of the RCII Advisory Committee is paid $55,076 per annum.
(c) No funds have been allocated to the promotion of the RCII to industry.
(d) As at 18 March 2024, several additional companies have made commitments to the RCII.
(i) The identity of potential contributors as well as their potential contributions are considered commercial-in-confidence until negotiations with these companies have been finalised.
(e) No.
(i) The foundation companies have provided commitments in writing to contribute to the RCII.
(ii) Individual Project Funding Agreements will be established between the WA Government and participating companies for each individual project that companies contribute towards. Payment milestones will vary depending on the nature of each project.
(f) No. These agreements are commercial-in-confidence.
(g) Foundation companies have committed $750 million towards the RCII. The WA Government will invoice companies for their contributions according to payment schedules outlined in the companies’ Project Funding Agreements. As at 18 March 2024, no funds have transferred from participating companies to the WA Government.
(h) As at 18 March 2024, no funds have been expended from the RCII. This will occur in line with agreed payment schedules as projects are delivered, which given the nature of many RCII projects is likely to take several years.
(i) Not applicable.
· 28 March 2023
· 20 June 2023
· 12 September 2023
· 19 December 2023
· 29 February 2024
(b) The Chair of the RCII Advisory Committee is paid $55,076 per annum.
(c) No funds have been allocated to the promotion of the RCII to industry.
(d) As at 18 March 2024, several additional companies have made commitments to the RCII.
(i) The identity of potential contributors as well as their potential contributions are considered commercial-in-confidence until negotiations with these companies have been finalised.
(e) No.
(i) The foundation companies have provided commitments in writing to contribute to the RCII.
(ii) Individual Project Funding Agreements will be established between the WA Government and participating companies for each individual project that companies contribute towards. Payment milestones will vary depending on the nature of each project.
(f) No. These agreements are commercial-in-confidence.
(g) Foundation companies have committed $750 million towards the RCII. The WA Government will invoice companies for their contributions according to payment schedules outlined in the companies’ Project Funding Agreements. As at 18 March 2024, no funds have transferred from participating companies to the WA Government.
(h) As at 18 March 2024, no funds have been expended from the RCII. This will occur in line with agreed payment schedules as projects are delivered, which given the nature of many RCII projects is likely to take several years.
(i) Not applicable.
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