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Australian Grand Prix Corporation Annual Report 2018 1 1 2018 ANNUAL REPORT Australian Grand Prix Corporation Annual Report 2018 Report of Operations 1. Responsible Body’s Declaration 2 2. Report of the Chairman 3 3. General Information 8 a. Introduction 8 b. Mission Statement 8 c. Vision Statement 8 d. Functions and Strategic Priorities 8 e. Administrative Structure 13 4. People, Safety and Wellbeing 19 a. Workforce Data 19 b. Wellbeing and Safety 20 c. Occupational Health and Safety performance indicators 21 d. Industrial Relations 21 e. Equal Opportunity 21 f. Multicultural Policy 21 g. Executive Officer Remuneration 22 5. Financial Review 23 6. Legislative and Other Information 25 a. Freedom of Information 25 b. Consultancy Services 26 c. Members’ Meetings 26 d. Building Act 1993 26 e. Local Jobs First - Victorian Industry Participation Policy 26 f. Available Information 27 g. Details of Advertising Expenditure 28 h. Information and Communication Technology Expenditure 28 i. Protected Disclosure Act 28 j. Disability Discrimination Act 29 k. Attestation for Financial Management Compliance 29 l. Disclosure Index 30 7. Financial Statements 31 Comprehensive Operating Statement 32 Balance Sheet 33 Statement of Changes in Equity 34 Cash flow statement 35 Notes to and forming part of the Financial Statements 36 Statement by Members of the Board and Officers 81 Independent Auditor’s Report 82 8. Event Supporters and Suppliers 84 Australian Grand Prix Corporation Annual Report 2018 1 1. Responsible Body’s Declaration 2. Report of the Chairman In accordance with the Financial Management Act 1994, I am pleased to present the The past year has seen the Australian Grand Prix Corporation (AGPC) again deliver two world- Australian Grand Prix Corporation’s Annual Report for the year ending 30 June 2018. class international motorsport events – the Michelin® Australian Motorcycle Grand Prix 2017 and the Formula 1® 2018 Rolex Australian Grand Prix. Both events showcase Melbourne and Victoria on the world stage and form an integral part of Victoria’s major events calendar. They generate significant benefits for the state, attracting visitors from across Australia and around the world, and promote Melbourne and Victoria to millions of fans globally. John Harnden AM Staging iconic motorsport events continues to be at the heart of what we do, however, we Chairman take great pride in continuing to grow the fan experience by showcasing all that our great city Australian Grand Prix Corporation and state have to offer, from a wide range of fields including technology, innovation, art and culture. 16 August 2018 Whilst we reflect on the success of the past 12 months, it is with immense sadness that we acknowledge the passing of former AGPC Chairman, Ronald Walker AC CBE. Ron was a great Australian and Victorian, who passionately loved Melbourne. He left a profound mark on the city and state from his early days as Lord Mayor, through to shaping the landscape of sport and major events in Victoria, and had an enormous impact on the world of motorsport both nationally and internationally. His legacy is unparalleled, and our thoughts continue to be with his family and friends. It is with great sadness that we also acknowledge the passing of our AGPC Board member, Mark Green. His passion and unwavering commitment to the Board and our events will forever be remembered, as will his wise counsel and judgement. Michelin® Australian Motorcycle Grand Prix 2017 The Australian Motorcycle Grand Prix has earned its reputation as being regional Australia’s largest international sporting event, and this year’s event shone bright on the global stage. The Phillip Island Grand Prix Circuit is one of the most unique and breathtaking destinations on the international MotoGP™ calendar, attracting fans from all over the globe to the region. This year, a three-day attendance of an estimated 85,600 provided substantial economic benefits to the local community. On-track, the 2017 MotoGP™ Riders Parade was led by Australian legend Wayne Gardner AM to celebrate his 30th anniversary since winning the World Championship. The Michelin® Australian Motorcycle Grand Prix 2017 was won by Spanish Honda superstar, Marc Marquez, who triumphed 1.8 seconds ahead of rival and fan-favourite, Italian Valentino Rossi, who was closely followed by his Yamaha teammate, Maverick Viñales. Aussie Jack Miller dug deep in front of his home crowd, leading the race in the first four laps and finishing in an impressive seventh place – his best result at Phillip Island – and a remarkable effort considering the race was just three weeks after breaking his leg. The Phillip Island Grand Prix Circuit was home to a history making event on the Sunday, when KTM took its first win in the Moto2™ category with Miguel Oliveira (Red Bull KTM Ajo) crossing the line three seconds ahead of his closest rival, teammate Brad Binder, who also took his first ever podium in the intermediate class. While there were still two races remaining, Joan Mir (Leopard Racing) was crowned 2017 Moto3™ World Champion after a stellar year that had seen him take nine wins from 16 races. 2 Australian Grand Prix Corporation Annual Report 2018 1. Responsible Body’s Declaration 2. Report of the Chairman In accordance with the Financial Management Act 1994, I am pleased to present the The past year has seen the Australian Grand Prix Corporation (AGPC) again deliver two world- Australian Grand Prix Corporation’s Annual Report for the year ending 30 June 2018. class international motorsport events – the Michelin® Australian Motorcycle Grand Prix 2017 and the Formula 1® 2018 Rolex Australian Grand Prix. Both events showcase Melbourne and Victoria on the world stage and form an integral part of Victoria’s major events calendar. They generate significant benefits for the state, attracting visitors from across Australia and around the world, and promote Melbourne and Victoria to millions of fans globally. John Harnden AM Staging iconic motorsport events continues to be at the heart of what we do, however, we Chairman take great pride in continuing to grow the fan experience by showcasing all that our great city Australian Grand Prix Corporation and state have to offer, from a wide range of fields including technology, innovation, art and culture. 16 August 2018 Whilst we reflect on the success of the past 12 months, it is with immense sadness that we acknowledge the passing of former AGPC Chairman, Ronald Walker AC CBE. Ron was a great Australian and Victorian, who passionately loved Melbourne. He left a profound mark on the city and state from his early days as Lord Mayor, through to shaping the landscape of sport and major events in Victoria, and had an enormous impact on the world of motorsport both nationally and internationally. His legacy is unparalleled, and our thoughts continue to be with his family and friends. It is with great sadness that we also acknowledge the passing of our AGPC Board member, Mark Green. His passion and unwavering commitment to the Board and our events will forever be remembered, as will his wise counsel and judgement. Michelin® Australian Motorcycle Grand Prix 2017 The Australian Motorcycle Grand Prix has earned its reputation as being regional Australia’s largest international sporting event, and this year’s event shone bright on the global stage. The Phillip Island Grand Prix Circuit is one of the most unique and breathtaking destinations on the international MotoGP™ calendar, attracting fans from all over the globe to the region. This year, a three-day attendance of an estimated 85,600 provided substantial economic benefits to the local community. On-track, the 2017 MotoGP™ Riders Parade was led by Australian legend Wayne Gardner AM to celebrate his 30th anniversary since winning the World Championship. The Michelin® Australian Motorcycle Grand Prix 2017 was won by Spanish Honda superstar, Marc Marquez, who triumphed 1.8 seconds ahead of rival and fan-favourite, Italian Valentino Rossi, who was closely followed by his Yamaha teammate, Maverick Viñales. Aussie Jack Miller dug deep in front of his home crowd, leading the race in the first four laps and finishing in an impressive seventh place – his best result at Phillip Island – and a remarkable effort considering the race was just three weeks after breaking his leg. The Phillip Island Grand Prix Circuit was home to a history making event on the Sunday, when KTM took its first win in the Moto2™ category with Miguel Oliveira (Red Bull KTM Ajo) crossing the line three seconds ahead of his closest rival, teammate Brad Binder, who also took his first ever podium in the intermediate class. While there were still two races remaining, Joan Mir (Leopard Racing) was crowned 2017 Moto3™ World Champion after a stellar year that had seen him take nine wins from 16 races. Australian Grand Prix Corporation Annual Report 2018 3 Off track, the all-new Urban Alley featured MotoGP™ inspired urban art from six talented street Collaborating with Visit Victoria, the Melbourne Food and Wine Festival, Melbourne Fashion artists, including Melburnian Julian Clavijo, who created a stunning tribute to the late American Festival, Melbourne International Comedy Festival and the Festival of Racing helped to MotoGP™ champion, Nicky Hayden. In addition, the autograph stages were a hive of activity enhance the profile of Victoria’s ‘March Madness’ events calendar. with fans getting up close to their favourite MotoGP™ stars. To celebrate Melbourne’s arts culture, the Melbourne Symphony Orchestra performed the Aerial displays from Royal Australian Air Force (RAAF) F/A-18 jets and the RAAF Roulettes had Australian National Anthem on track prior to the race, backing Esther Hannaford and Mat spectators turning their heads to the sky in awe, as did the enormous Boeing C-17 Verevis, the lead performers in ‘Beautiful’ – the Carole King musical which was in town at Her Globemaster, which made its inaugural flight over Phillip Island.
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