Exclusive: Australia's most-troubled Aboriginal community has locals living in abject poverty, yet a trust fund for them has more than $120m in cash and assets
Australia's most-troubled Aboriginal community, Aurukun on western Cape York in Queensland, has locals living in abject poverty, yet a trust set up to help pay for health, education and other essential infrastructure has more than $120 million in cash and assets that remain untouched.
Image from a New Year's Day riot at Aurukun, north Queensland, supplied by the Queensland Police Service on January 2, 2020.It was reported that up to 400 people left Aurukun, with some hiding in the surrounding bush, and the majority moving to the township of Coen, with another 150 or so heading to Cairns more than 800 kilometres south. Many have since returned, but the houses remain burnt or damaged, causing severe overcrowding in the remaining homes.
The trust deed permits investments in stocks and securities. At the conclusion of the 2019 financial year, the total investment in shares, unit trusts and bonds was $60 million. That was up from $51.3 million the previous year. Cash in the bank and term deposits totalled $47.1 million. "Under the agreement, traditional owners are able to request funds to build a home on their own country out of the community and several have done that. I don't know how many.''"The Aurukun Shire Council has put applications to the fund managers for certain projects but nothing has eventuated yet,'' she said. "Any changes to the trust would have to be the decision of the traditional owners involved who would have to meet and discuss it.
“Each year or so, they get a distribution of white goods from the trust – freezers, fridges, airconditioners, TV sets and so on, and they can also get vehicles, boats or travel or funeral payments," the lawyer said.
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