The legislation and Statutory Funding Agreement (PDF 273Kb) governing AWI require the company to implement a three-year business cycle. The cycle commences with the decision by woolgrowers at WoolPoll on the amount of levy they will pay for the next three-year period, and the direction in which levies will be invested.

Prior to WoolPoll AWI must commission an independent Review of Performance to assess its performance against the Strategic Plan, relevant Annual Operating Plans, compliance with the Statutory Funding Agreement and general overview of operations.

Woolgrowers can consider the results of the independent Review of Performance when making their levy decision at WoolPoll.

The outcomes of the independent Review of Performance and WoolPoll are used to negotiate a new Statutory Funding Agreement with the Federal Government, which governs AWI’s expenditure and operations for the next three-year period.

AWI’s three-year and annual business processes are shown here:

SUMMARY OF THREE-YEAR BUSINESS CYCLE

Three-year independent Review of Performance
Independent assessment of AWI’s performance against the Strategic and Annual Operating Plans and compliance with the Statutory Funding Agreement.

WoolPoll
Poll of levy payers every three years that determines the amount of the levy collected for research, development and marketing activities for the next three years.

Three-year Statutory Funding Agreement
Based on the outcomes of the three-year independent Review of Performance and WoolPoll, AWI negotiates a new funding contract with the Federal Government that governs the payment and expenditure of levy and matching government funds for the next three years.

Three-year Strategic Plan
Based on the outcome of WoolPoll, outlines key areas of activity and investment for the next three years. AWI consults with industry representative groups and growers to ensure that industry views are incorporated into the plan.

Annual Operating Plan
Based on the three-year Strategic Plan, every year AWI develops an Annual Operating Plan which outlines the activities and investments to be made over the next year. AWI consults with industry to ensure their views are incorporated into the plan.