WBACC Annual Report 2008

Wreck Bay Aboriginal Community Council Annual Report 2008–2009 Cover image: Summercloud view from Cemetery Point

© Commonwealth of Australia 2009 ISSN 1832–5181 The contents of this Annual Report and Statement of Accounts are protected by the provisions of the Copyright Act, 1968. The document is produced solely for the purposes of reporting to its members and as required by law and the report or any part of this report must not be reproduced or published without the express written permission of the Wreck Bay Aboriginal Community Council. Address: Wreck Bay Aboriginal Community Council Administration Building Wreck Bay Road WRECK BAY JBT 2540 Publisher: Wreck Bay Aboriginal Community Council WRECK BAY ABORIGINAL COMMUNITY COUNCIL

Phone: (02) 4442 1195 5 Bunaan Close Fax : (02) 4442 1189 Wreck Bay Village JERVIS BAY 2540

The Hon. Jenny Macklin MP Minister for Family, Housing, Community Services & Indigenous Affairs Parliament House CANBERRA ACT 2600

Dear Minister Macklin,

On behalf of the Board of Directors, I am pleased to present the Annual Report of the Wreck Bay Aboriginal Community Council and its wholly owned subsidiary Wreck Bay Enterprises Limited for the period 1 July 2008 to 30 June 2009 as required by Part 3, Division 2, Subdivision A9 (1) (B) of the Commonwealth Authorities and Companies Act 1997.

As such, the Directors of the Board are responsible for the preparation and content of this Annual Report and the report is presented to you in accordance with a formal resolution of the Board.

Yours faithfully,

Paul McLeod Chairperson Wreck Bay Aboriginal Community Council

Wreck Bay Aboriginal Community Council Annual Report 2008–2009 iii iv Wreck Bay Aboriginal Community Council Annual Report 2008–2009 Table of Contents

Contents Vision and Statement of Goals �� 1 Our Vision �� 1 Our Goals �� 1 WBACC Overview �� 2 Wreck Bay Aboriginal Community Council �� 2 Membership �� 2 Land Ownership/Management �� 5 Functions �� 6 Wreck Bay Village �� 7 Wreck Bay Community �� 7 Wreck Bay Aboriginal Community Timeline �� 8 Chairperson’s Report �� 12 Dear Members �� 12 Board Members �� 14 Board Meetings 1st July 2008 to 12th October 2008 �� 17 Board Meetings 13th October 2008 to 30th June 2009 �� 17 Chief Executive Officer Report on Operations �� 18 Introduction �� 18 Funding Grants and other Income �� 18 Subsidiary Companies and Contracts �� 18 Further Operational Activities with the Community �� 19 The future �� 20 Administration �� 21 WBACC Operations �� 21 Community Liaison Function �� 22 Centrelink Agent �� 22

Wreck Bay Aboriginal Community Council Annual Report 2008–2009 v Jervis Bay Territory Networking �� 23 Jervis Bay Territory Focus Group �� 23 Jervis Bay Territory Public Health and Environment Working Group �� 23 Jervis Bay Territory Justice Issues Group �� 23 Jervis Bay Emergency Management Committee �� 23 General Meetings of the WBACC �� 24 Annual General Meeting 2008 �� 24 Audit Committee �� 24 Organisational chart �� 25 WBEL’s Annual Report 2008–2009 �� 26 Financial �� 26 Overview of Operational Activities 2008–2009 �� 26 Entry Station �� 26 Cleaning �� 27 Horticulture �� 27 Roads �� 28 Building �� 28 Mechanics Department �� 28 Administration �� 28 Training �� 29 Equipment Training �� 29 First Aid Training �� 29 Organisational �� 29 Employment �� 29 Envisaged level of employment �� 29 Service Level Agreements �� 29 SLA for Roads �� 29 SLA for Entry Station �� 30 SLA for Cleaning �� 30 SLA for Grounds Maintenance �� 30 SLAs included in Phase 2 �� 31 Future Outlook for WBEL �� 31 WBACC Financial Statement �� 33 WBEL Financial Statements �� 71 The Year’s Results �� 73 The Future �� 73

vi Wreck Bay Aboriginal Community Council Annual Report 2008–2009 Vision and Statement of Goals

Our Vision Wreck Bay Aboriginal Community seeks to be a respected equal and valued part of a culturally diverse Australian society. By controlling and managing its own land and waters, the Community aims to become self sufficient and able to freely determine its future and lifestyle. The Community desires to do this by protecting its interests and values while preserving for future generations, its unique Identity, Heritage and Culture.

Our Goals To achieve this vision Wreck Bay Aboriginal Community Council’s goals are: hh Sole ownership of all lands and waters within Jervis Bay Territory, hh Sole management of its freehold land and waters, allowing for Community responsibility, empowerment and self determination, hh Sole representation of all Community’s united and democratically agreed interests, at all levels of Government and in all external dealings so as to protect Community members rights, hh Environmentally sustainable development to allow a productive economic base for the Community by managing Booderee as an ongoing Park, the Community seeks to protect the land and water while earning income, creating jobs and achieving financial security, hh Social and cultural development linked with an appropriate cultural training and education, to improve Community empowerment and management, security and wellbeing, while preserving Community values, hh Improve health, housing and living standards, to levels at least comparable with good practice in other Australian Communities, hh Recognition and support from the wider Australian community and Government, to achieve these worthwhile and positive goals.

Wreck Bay Aboriginal Community Council Annual Report 2008–2009 1 WBACC Overview

Wreck Bay Aboriginal Community Council The Wreck Bay Aboriginal Community Council (the Council) is an incorporated statutory body which was established by the Aboriginal Land Grant (Jervis Bay Territory) Act 1986 (Land Grant Act), which is Australian Government legislation and falls within the ministerial responsibilities of the Minister of Family, Housing, Community Services and Indigenous Affairs. The Council commenced operations in March of 1987 and is currently in its twenty second year of operation.

Membership At time of this report there are 304 Registered Members of the Wreck Bay Aboriginal Community Council.

JANELLE ALI AIMEE ARDLER ALINTA ARDLER AMANDA ARDLER ANTHONY ARDLER ATHOL ARDLER BEVERLY ARDLER BRADLEY ARDLER CRAIG ARDLER ELIJAH ARDLER ERIC ARDLER SNR ERIC ARDLER JNR ERICA ARDLER GERALDINE ARDLER IVERN ARDLER JAMAHL ARDLER JOEANNA ARDLER JOSH ARDLER KAIN ARDLER KAREN ARDLER KARLIE-JOY ARDLER KEVIN ARDLER LEAH ARDLER LEIGH ARDLER LISA ARDLER LORRAINE ARDLER MIAMBA ARDLER PAUL ARDLER REUBEN ARDLER SNR REUBEN ARDLER JNR RICHARD ARDLER RICK ARDLER SUSAN ARDLER TANYA ARDLER TERRENCE ARDLER THERESA ARDLER VIRGINIA ARDLER WAYNE ARDLER HELEN BARRINGTON CHERYL BASSINDER SANDRA BLOXSOME ANNETTE BROWN ASHLEIGH BROWN CHRISTINE BROWN DAEN BROWN DARREN BROWN DARYLL BROWN EVONNE BROWN FRANCIS BROWN GAIL BROWN GARY BROWN GEORGE BROWN SNR GEORGE BROWN JNR GRAEME BROWN HAROLD BROWN JACKSON BROWN JACOB BROWN JANNINE BROWN JASMIN BROWN JEREMIAH BROWN JOHN P BROWN JOHN M BROWN JOSEPH T BROWN JOSEPH G BROWN JUSTINE BROWN KEIRON BROWN

2 Wreck Bay Aboriginal Community Council Annual Report 2008–2009 KENNETH BROWN KENNY BROWN KEVIN BROWN KRISTY BROWN KYLE BROWN LEON BROWN LESLIE BROWN LYNETTE BROWN MARGARET BROWN MAXINE BROWN MEGAN BROWN MELISSA BROWN MORGAN BROWN PATRICIA BROWN PHILLIP BROWN RHONDA BROWN ROBERT BROWN SANDIE-LEE BROWN SHAYNE BROWN SHERYN BROWN SIMON BROWN STANLEY BROWN STEVEN J BROWN STEVEN BROWN SUE-ANN BROWN SYLVIA BROWN TERRENCE BROWN THOMAS BROWN SNR THOMAS BROWN JNR VERA BROWN VERONICA BROWN VIDA BROWN SNR VIDA BROWN JNR WENDY BROWN WILLIAM BROWN GORDON CAMPBELL EILEEN CARBERRY ANDREW CARTER ANTHEA CARTER JANICE CARTER JEAN CARTER MARIE CARTER NICHOLAS CARTER PEGGY CARTER SAMANTHA CARTER TONY CARTER WILLIAM CARTER JNR WILLIAM CARTER ANTHONY CHARLES PHILLIP CHARLES ROSLYN CRUIKSHANK RUTH DANE KENNY DANN PAULINE DELAUNEY TRACEY DEWIS KEVIN DIXON PAMELA DIXON RICHARD DIXON STANLEY DIXON BILLY DUPAK-MOORE KAY ELLA IRENE ELLIS ANNALISE FOSTER JUDY FOSTER LESLEY FOSTER MATTHEW FOSTER NATALIE FOSTER PHYLLIS FOSTER CLIVE FREEMAN JNR JULIE FREEMAN MARKEETA FREEMAN JASON GREEN TROY GREEN ADAM HAMPTON EILEEN HAMPTON ERIN HAMPTON NEVILLE HAMPTON SNR NEVILLE HAMPTON JNR SHARNA HAMPTON WILLIAM HAMPTON ELIZABETH HOSKINS FIONA HYLAND KERRY JANSEN MARGARET JOHNSON JANICE KELLY ANGIE LONESBOROUGH NICOLE LONESBOROUGH PHILLIP LONESBOROUGH PHILLIP LONGBOTTOM JOHN MARKS ROBYN MARKS MARGARET MCKENNY JAMES MCKENZIE ANGELINA MCLEOD BERNARD MCLEOD BRETT MCLEOD CAROLINE MCLEOD DALE MCLEOD DARREN MCLEOD DEAN J MCLEOD DONNA MCLEOD EILEEN MCLEOD ELAINE MCLEOD SNR ELAINE MCLEOD JNR GAVIN MCLEOD GRACE MCLEOD IAN K MCLEOD IAN B MCLEOD IRIS MCLEOD ISAAC MCLEOD JEFFREY MCLEOD KAYLENE MCLEOD KEVIN MCLEOD KYLIE MCLEOD LESLEY MCLEOD MARK MCLEOD MARY MCLEOD MATTHEW MCLEOD MAX MCLEOD SNR MAX MCLEOD JNR NATASHA MCLEOD PAUL MCLEOD PHILLIP MCLEOD

Wreck Bay Aboriginal Community Council Annual Report 2008–2009 3 RACHELLE MCLEOD RODERICK MCLEOD RONALD MCLEOD TRACEY MCLEOD TY MCLEOD VANESSA MCLEOD BARRY MOORE COLIN TOM MOORE JULIE MOORE MARJORIE MOORE PETER MOORE THOMAS MOORE URSULA MOORE AGNES ROSE MUNDY BELINDA MUNDY DENISE MUNDY ERROL MUNDY GLEN MUNDY JACQUELINE MUNDY KEITH MUNDY MARK MUNDY MICHAEL MUNDY MONA MUNDY SANDRA MUNDY NOELENE NUNN CATERINA PERRY-THOMAS SHARON PERRY-THOMAS ALISON RAATH EMMA RAATH IMERA RAATH ANTHONY ROBERTS JNR CYRIL ROBERTS REUBEN ROBERTS TILLY SCOTT VICTOR SHARMAN MATTHEW SIMMS KAREN SIMPSON DENNIS STEWART DOUGLAS STEWART HAROLD STEWART JENNIFER STEWART MAY STEWART NARELLE STEWART NORMAN STEWART PETER STEWART STEVEN STEWART WALTER STEWART DARREN STURGEON ELAINE STURGEON SHANE STURGEON TERRENCE STURGEON CINDY TALBOT CLIFFORD THOMAS MATTHEW THOMAS PETER THOMAS RONALD THOMAS SARAH THOMAS SHERESE THOMAS SONIA THOMAS DENNIS TOWERS JACQUELINE TRINDALL JOSEPH TURNER MELINDA TURNER SHARON TURNER DAVID VALE LACHLAN VALE AMBER WAINE DANIEL WAINE EBONY WAINE CHENOA WELLINGTON JEFFREY WELLINGTON KYLIE WELLINGTON LORETTA WELLINGTON MICHELLE WELLINGTON PAULA WELLINGTON DEBRA WENT DONYA WHADDY LANCE WHADDY LAURA WHADDY LYNETTE WHADDY ADRIAN WILLIAMS AMANDA WILLIAMS ARTHUR WILLIAMS DANIEL WILLIAMS DOUGLAS WILLIAMS JNR DOUGLAS WILLIAMS EMMA-JANE WILLIAMS FIONA WILLIAMS GLEN WILLIAMS GREG WILLIAMS JAMES WILLIAMS JEFFREY WILLIAMS JOSHUA WILLIAMS MELANIE WILLIAMS MICHAEL WILLIAMS MITCHUM WILLIAMS NORMA WILLIAMS PENNY WILLIAMS PRISCILLA WILLIAMS REBECCA WILLIAMS ROBERT WILLIAMS SNR ROBERT WILLIAMS JNR SHANE WILLIAMS SHANNON WILLIAMS SHARON WILLIAMS SHEENA WILLIAMS SONIA WILLIAMS STACEY WILLIAMS TAMMY WILLIAMS TANIA WILLIAMS TIMIKA WILLIAMS WENDY WILLIAMS LEE WILLIS-ARDLER BRUCE YUKE CORAL YUKE

4 Wreck Bay Aboriginal Community Council Annual Report 2008–2009 Land Ownership/Management The establishment of the Council under the Land Grant Act allowed for the granting of inalienable freehold title to 403 hectares of land in the Jervis Bay Territory (JBT) to the Wreck Bay Aboriginal Community. This land has been solely managed by the Council since 1987. In the early 1990’s the Council pursued further grants of land in the Jervis Bay Territory that included the then Jervis Bay National Park and Australian National Botanic Gardens (Jervis Bay Annex) and in 1995 amendments were made to the Land Grant Act and the Australian National Parks and Wildlife Conservation Act 1975 and in October 1995 the Council was granted title to both. The land grant included a marine component within Jervis Bay itself. The Council, prior to the land grant agreed to lease the Park to the Director of National Parks (Director) so a Memorandum of Lease between the Council and the Director was negotiated and signed. This lease is currently undergoing a review which commenced August 2007. In 1996 a Board of Management (Park Board) was established for the Jervis Bay National Park (Park) and Botanic Gardens (Park) with Wreck Bay Community representatives occupying 5 of the 9 positions and in 1997 the name of the Park was changed to Booderee National Park to reflect Aboriginal ownership. The current Park Board has 12 members with Wreck Bay Community representatives occupying 7 of those positions. Wreck Bay Community representatives are elected from the Wreck Bay Board. In total the area of land and water owned by the Council in the Jervis Bay Territory is approximately 68 square kilometres which is about 90% of the land. The remaining land in the JBT is managed by the Department of Transport and Regional Services and Department of Defence.

Wreck Bay Aboriginal Community Council Annual Report 2008–2009 5 Functions Under the Land Grant Act the Council has a number of functions which fall into the main categories of land holding and management, provision of community services for its members and business enterprises. The Council subject to and in accordance with the Act is to hold title to Aboriginal Land and exercise for the benefit of the members of the Community, the Council’s powers as owner of Aboriginal Land and of any other land owned by the Council. The Council can also make representations to the Minister in relation to land that the Council considers should become Aboriginal Land. Community service type functions include and in consultation with the Minister, to consider and, where practicable, take action for the benefit of the Community in relation to the housing, social welfare, education, training or health needs of the members of the Community, to provide community services to members of the Community. Other functions are to protect and conserve natural and cultural sites on Aboriginal land, to engage in land use planning in relation to Aboriginal land and to manage and maintain Aboriginal land as well as to conduct business enterprises for the economic or social benefit of the Community and any such functions that are conferred on it by a provision of the Act, and any functions relating to the Community conferred on the Council by the regulations.

6 Wreck Bay Aboriginal Community Council Annual Report 2008–2009 Wreck Bay Village The Wreck Bay Village is situated within the boundaries of the 403 hectares of the 1986 land grant in the Jervis Bay Territory. It is located on the South Coast of New South Wales (NSW) approximately 2.5 hours drive south of Sydney and three hours drive north east of Canberra. The JBT is a non-self governing Commonwealth Territory, which is administered by the Department of Transport and Regional Services (DOTARS). The village has 49 houses and a number of make-shift dwellings and has a population which generally fluctuates between 215 and 230 people. The facilities in Wreck Bay include an Administration Office, Community Hall, Children’s Day-care Centre, bus shelter, fire-shed and a newly built Health Clinic. Other facilities in the Village include a child’s playground, Memorial Garden, tennis court and two common areas which are mainly used as children’s play areas.

Wreck Bay Community The Wreck Bay Community are the recognised owners of the land on the Bherwerre Peninsula and can be defined as those who are registered members of the Wreck Bay Aboriginal Community Council and their families the majority of which live in the Wreck Bay Village, Jervis Bay Village and the towns and villages in the Shoalhaven. Other members also live intrastate and interstate.

Wreck Bay Aboriginal Community Council Annual Report 2008–2009 7 Wreck Bay Aboriginal Community Timeline

Always Since time, Koori people have always used Bherwerre because of its rich diversity. It has always been a place of great significance to our people because of its unique location and its abundance of foods and medicines. It has provided us with an area where we can continue to pass on our traditional knowledge. 1800s early Europeans are given estates on the South Coast of New South Wales which started the dispossession of land from the local Aboriginal people. 1830–1840 Local Aboriginal people listed in the record for distribution of blankets and rations. 1880s Aboriginal reserves established on the South Coast due to the dispossession of traditional lands. 1912 Naval College established at Jervis Bay. 1915 Commonwealth acquires the Bherwerre Peninsula, which becomes a part of the Australian Capital Territory. Efforts were made at that stage to relocate the Aboriginal Community at Wreck Bay. 1924 First school built at Wreck Bay. 1925 Aboriginal Protection Board of New South Wales accepts the Commonwealth offer to administer the Wreck Bay ‘reserve’ under the provision of the New South Wales Aboriginal Protection Act 1909. First manager appointed. 1929–1949 Fish Protection Ordinance 1929–1949 has a provision that excludes Aboriginal residents of the Territory from paying fishing license fees. Aboriginal initiative to establish a fishing industry in the region. 1930s First houses built on the reserve 1940 Aboriginal Protection Act 1940 reflects shift from protectionism to assimilation policies in New South Wales. Aboriginal people issued with ‘dog tags’. Cultural expression continued to be outlawed to fit in with the assimilation policy of the day. 1952 The boundary of the Wreck Bay Reserve marked out by Bob Brown, Archie Moore and Reg McLeod.

8 Wreck Bay Aboriginal Community Council Annual Report 2008–2009 1954 Wreck Bay Reserve is gazetted under the provisions of the Aborigines. Welfare Ordinance Australian Capital Territory. Provision of the Aborigines Protection Act of New South Wales no longer applies. 1965 Aborigines Welfare Ordinance Australian Capital Territory is repealed, thus effecting the transfer of the ‘reserve’; from the Aborigines Welfare Board to the Commonwealth Department of Interior. At the same time, the reserve was abolished and declared an ‘open village’. Assimilation policy of the day brought about attempts to house non- Aboriginals at Wreck Bay, which the Community opposed. Efforts were made to relocate the Community once again. Wreck Bay School was moved to Jervis Bay. 1965–1966 Wreck Bay Progress association formed to counter the open village status and to secure land tenure, thus securing the community’s future. 1971 Proclamation under the Public Park Ordinance (Australian Capital Territory) of the Jervis Bay Nature Reserve over the majority of the Territory including the non residential land of the reserve. 1973–1974 The Wreck Bay Housing Company and the Wreck Bay Women’s Committee formed. Land Rights issues were the main issues for discussion between the Community and the Government. 1979 Blockade of the Summercloud Bay Road, which prevents the general public of access to the Summercloud Bay day visitor area. This action was taken as a result of the land ownership issue. 1985 Announcement by the Prime Minister of plans to transfer the Fleet Base and Armaments depot to Jervis Bay. The Wreck Bay people opposed this decision because of the impact to the Cultural and Natural environment of the region. The land rights movement accelerates. 1986 The Aboriginal Land Grant (Jervis Bay Territory) Act 1986 enacted. 1987 The Wreck Bay Community secure land tenure of 403 hectares of land via the Aboriginal Land Grant (Jervis Bay Territory) Act 1986 and the Wreck Bay Aboriginal Community Council is established. 1991 Public announcement of the Jervis Bay National Park is made. 1992 The Jervis Bay National Park is declared replacing the Jervis Bay Nature Reserve. The Wreck Bay Community is offered 2 positions on a Board of Management of the newly declared Park. The offer is rejected. 1993 Commonwealth announces that the armaments depot will be built in Victoria. The Native Title Act 1993 is enacted.

Wreck Bay Aboriginal Community Council Annual Report 2008–2009 9 1994 The Commonwealth Ministers for Aboriginal & Torres Strait Islander Affairs and the Environment announce intention of a land grant of the Jervis Bay National Park to the Wreck Bay Aboriginal Community. Amendments to the Aboriginal Land Grant (Jervis Bay Territory) Act 1986 and the Australian National Parks & Wildlife Service Act 1975 amended to facilitate land grant. 1995 Amendments passed in both houses of Parliament and the Wreck Bay Aboriginal Community Council is granted freehold title to Jervis Bay National Park. Park leased back to the Director of National Parks. 1996 The Jervis Bay National Park Board of Management is established which has a majority of Wreck Bay Community representatives on the Board. For the first time the Wreck Bay people have a real say on how traditional lands are managed. 1997 The Wreck Bay Aboriginal Community Council lodges a land claim for the remaining areas in the Jervis Bay Territory, which is not Aboriginal Land. 1998 To reflect Aboriginal ownership the Jervis Bay National Park is changed to Booderee National Park. 1999 Wreck Bay Enterprises Limited is established. 2000 Interdepartmental Committee is established to look at a number of issues in Jervis Bay Territory including the Wreck Bay land claim. 2002 WBACC renegotiate Lease of Booderee National Park with Director of National Parks. WBACC commences financial support for trainee in Booderee National Park. Management Plan for Booderee National Park finalised. 2003 March: WBACC and Wreck Bay Enterprises Limited register Certified Agreement. Wreck Bay Health Clinic commences operation in new building. Amendments to legislation (Aboriginal Land Grant Act) for quorum of community meeting. Park Board membership increased from 10 to 12 with the wreck Bay Community providing 7 of the 12 Board Members. December: Bushfires cause major damage to Booderee National Park November: Changes to the Aboriginal Land Grant passed in Parliament.

10 Wreck Bay Aboriginal Community Council Annual Report 2008–2009 2004 March: Work on new subdivision in Wreck Bay Village commences. March: WBACC signs contract with Government to become Centrelink Agent and Access point. 2005 Work commenced on seven new houses that are funded through the National Aboriginal Health Strategy program May: WBACC signs Shared Responsibility Agreement (Housing) with the Queanbeyan ICC June: Five of the seven families move in new houses 2006 January: Review commenced on Wreck Bay Aboriginal Community Council Strategic Plan. September: Four members of the Board resign. 2007 January: Minister seeks review of the Aboriginal Land Grant (JBT) Act 1986. June: Review of the Aboriginal Land Grant (JBT) Act 1986 completed and report provided to the Office of Indigenous Policy Co-ordination. December: Change of Government, new Minister is appointed 2008 February: Board approves Rent/Lease document and tenants commence signing leases. June: Funding is approved by the Government to build a new Childcare Centre in Wreck Bay Village. 2009 Work commenced on the new Gudjahgahmiamia Childcare Centre.

Wreck Bay Aboriginal Community Council Annual Report 2008–2009 11 Chairperson’s Report

Dear Members With pleasure I present to you our report for the 2008–2009 financial year. Following elections during October 2008 a new Executive Board was elected and a new CEO appointed to build on the positive platform established by the previous Board. The community has many challenges and opportunities and as your Executive, we are working through these to ensure our Community advances and maximises its opportunities. The Council (registered members) has requested that emphasis be placed on services within the Community and I believe that we are addressing that expectation. The Executive has supported the formation of three Executive Board sub-committees that are made up of Board members, staff and community members with a purpose of determining direction and policy for the Executive to endorse. The first of these sub- committees, the Cultural Heritage sub-committee is established and has met several times with an initial project to develop a cultural heritage position and strategy to be included in the new Booderee National Park, Plan of Management. Cultural heritage is seen as a major consideration in community development and advancement and all that Wreck Bay community stands for. The other two sub-committees will be established as soon as possible. Health has been a major concern with members requesting and expecting a better medical service. The Community has negotiated to have a visiting doctor visit the community one day a week, it is hoped that this will be increased to at least two days per week. Other medical services are needed and are been pursued. Funerals are always a sad aspect of community life and the community mourns those who have passed away during the year. Your Executive has endorsed the establishment of two annual scholarships to support our young people who wish to fulltime study in either a university or TAFE institution. These will be advertised later during the year. The Council has provided support for many members and families through the policy of Community Support Program – Funeral & Bereavement, Bond Assistance, Education and sport.

12 Wreck Bay Aboriginal Community Council Annual Report 2008–2009 The community has entered into a memorandum of understanding with the Shoalhaven Noah’s Ark organisation, which provides early child development care programs within the Gudjahgahmiamia Childcare Centre and the work is well underway with the construction of the new day-care facility that should be completed during February 2010. Housing conditions within the community remain a major and frustrating concern for all of us with insufficient housing, asbestos issues and insufficient funding to bring the housing up to a standard equivalent with comparable housing in other public housing estates. The Executive is working through this issue and are confident that a positive outcome will be developed during the next financial year. Other processes that the Executive are working through during its term in office include the lease renewal negotiations with the Director National Parks over Booderee National Park, the preparation of another Plan of Management for the Park to guide its direction for the next 10 years plus the next stage of function transfers within Booderee that move the community closer to its goal of sole management. Outstanding issues include the Land claims over remaining lands within Jervis Bay Territory, changes to the Land Grant Act and negotiating a MOU between Commonwealth Government Departments and WBACC. I offer thanks and appreciations to the government departments including FaHCSIA, DEEWR and the AGD for their support plus the ongoing and productive relationship that the community has with the Director of National Parks with joint management of Booderee. I also thank and acknowledge the wonderful support given to the community from the staff and various service providers including Noah’s Ark, Waminda, Nowra AMS, Illawarra Health, Habitat and Booderee National Park. Paul McLeod Chairman WBACC

Wreck Bay Aboriginal Community Council Annual Report 2008–2009 13 Board Members

Paul McLeod Chairperson of WBACC from Oct 2008 to current.

Craig Ardler Deputy Chairperson of WBACC from Oct 2008 to current Employed as Public Servant with Federal Government

Lorraine Ardler Secretary of WBACC from Oct 2008 to current Employed as Public Servant with Federal Government

14 Wreck Bay Aboriginal Community Council Annual Report 2008–2009 Joseph Brown-McLeod Board Member WBACC from Nov 2006 to Current Employed with Wreck Bay Aboriginal Community Council as a Family Support Worker

Julie Freeman Board Member WBACC from Oct 1991 to Current

James McKenzie Board Member of WBACC from Oct 2006 to current Employed as Cultural Sites Officer, Wreck Bay Enterprises Limited

Wreck Bay Aboriginal Community Council Annual Report 2008–2009 15 Gavin McLeod Board Member of WBACC from Nov 2004 to current Employed as Public Servant with Federal Government

Harold Stewart Board Member WBACC from Nov 2006 to Current Retired

Jenny Stewart Board Member of WBACC from Oct 2008 to current

16 Wreck Bay Aboriginal Community Council Annual Report 2008–2009 Board Meetings 1st July 2008 to 12th October 2008 Name Position Held Meetings Meetings Percentage Held Attended Attended

Julie Moore Chairperson 2 2 100

Leon Brown Deputy Chair 2 2 100

Gavin McLeod Secretary 2 1 50

Annette Brown Director 2 2 100

Joseph Brown Director 2 1 50

Terrence Brown Director 2 1 50

Julie Freeman Director 2 2 100

James McKenzie Director 2 2 100

Harold Stewart Director 2 2 100

Board Meetings 13th October 2008 to 30th June 2009 Name Position Held Meetings Meetings Percentage Held Attended Attended

Paul McLeod Chairperson 10 9 90

Craig Ardler Deputy Chair 10 9 90

Lorraine Ardler Secretary 10 8 80

Joseph Brown Director 10 9 90

Julie Freeman Director 10 9 90

James McKenzie Director 10 8 80

Gavin McLeod Director 10 6 60

Harold Stewart Director 10 9 90

Jennifer Stewart Director 10 7 70

Wreck Bay Aboriginal Community Council Annual Report 2008–2009 17 Chief Executive Officer Report on Operations

Introduction 2008–2009 can be described as a year of focus as the community moved forward after two years of rebuilding. Credit has to be given to the previous Executive Board and CEO plus current senior staff who took on the responsibilities during both uncertain and difficult times to steer the community into a position where today, it can move forward with a high degree of determination, integrity and strength.

Funding Grants and other Income Grants were received during the year from FaHCSIA for the Administration and Management of the WBACC plus from DEEWR for the operation of the Wreck Bay Gudjahgahmiamia Day-care centre under the MACS scheme. FaHCSIA have confirmed that they won’t fund the position of Chief Executive Officer for the WBACC which is a major disappointment and places undue pressure on the community’s resources to fund this important position. Late during the previous financial year a special grant was received from DEEWR for the erection of a new Day-Care centre and this will be completed during 2010. Funding was received from the AGD for the Local Government and Land Council functions plus a small amount of funding under the Commonwealth/State housing arrangements to utilise for housing repairs and maintenance. The community operates a Centrelink agency and receives income for this activity. Income was received from the Director of National Parks for the Lease of the Booderee National Park plus 25% of the Entry and Camping fees. It was pleasing that visitation for the Booderee national Park has increased again during the past year.

Subsidiary Companies and Contracts Wreck Bay Enterprises Limited will record a small financial loss for this year which is disappointing but reinforces their aim to maximise the employment opportunities for community members whilst maintaining minimal profits. The value of work from Booderee National Park reduced during the year which had a negative affect on the financial performance of WBEL.

18 Wreck Bay Aboriginal Community Council Annual Report 2008–2009 Each operational section recorded an operational profit however accrued annual leave and depreciation reduced the overall operational profit to a paper loss. The outlook for the next financial year is looking better with additional works being scheduled from the Park and the organisation seeking additional work outside of the traditional sources. Some changes have been made within the organisation structure that will positively affect the profitability during the next financial year. The Service Contract between the Director of National Parks has been re-negotiated and further functions within the Park are agreed to in principal to be transferred to either WBACC or its subsidiary WBEL during 2009. The Park lease contract negotiations are slowed as we seek a better outcome to the log of claims registered with the Director National Parks. Whilst we were hopeful of having the lease renegotiated during the past year, the relationship between the Director and the Community remains positive as the negotiating progresses. A new Plan of Management is currently being prepared and should be completed later 2009. The previous and initial plan of Management forms the basis of the management of the Park until a new plan is adopted.

Further Operational Activities with the Community There are many positive actions within the community but also our fair share of frustrations and difficult issues still to deal with. The positives include the commencement of a new Day-Care building that will increase our potential from 20 fulltime child placements to 30. The centre is scheduled to be completed during February 2010. Another positive action is the negotiation of stage 2 of functions transfers from Booderee National Park to the Wreck Bay Community. This is another move towards the community’s goal of sole management of the park and self determination. The community has successfully established a major Executive sub-committee, one of three planned to develop strategies and direction for the community in three broad range areas. Cultural Heritage, Community Services and Governance. It is planned to establish the other two sub-committees within the next year and this will then provide the community with a substantial model for community engagement. The Director National Parks has informed the Community of an opportunity to utilise the Parks Botanic Garden site as a possible indigenous tourism site where the community’s tourism enterprise can establish its operations and services from the Garden site. This is a logical solution for the community and the Director to utilise an area of the Park that is currently underutilised but has a tremendous range of infrastructure suitable for a range of tourism enterprises. Wreck Bay Community still maintains a relevant high percentage of employment for its members with the relationship with Booderee National Park despite the isolation of the community and being located within an identified high unemployment region.

Wreck Bay Aboriginal Community Council Annual Report 2008–2009 19 The community has again been successful in obtaining relevant grants to provide funds to operate the Council and Day-Care plus has entered into contractual arrangements with the Attorney Generals Department to provide a range of services to residents of the community as part of the responsibilities of the department under local government, land council and housing activities. The frustrations within the community are twofold with firstly the reality of having to deal with too many funerals during the year, far too much pressure placed on existing housing within the community but then also dealing with the outstanding issues of land claims, lease negotiation with Parks Australia, legislation changes, lack of initiatives with bureaucracy in closing the gap and understanding the issues facing contemporary indigenous people living in Australia today.

The future The future of Wreck Bay remains positive with a new emphasis on community engagement and establishing further employment outcomes through the tourism structure under WBACC. The community has many strengths with a host of skilled people in academic, tourism, trades and traditional areas of expertise. Work is being done to improve governance and policy development within the community. Our sincere thanks are extended to the various funding departments who have supported us in the past financial year and who have committed funds for the next financial year. We are looking forward to an ongoing productive and professional relationship with all our partners. Chris Moon CEO WBACC

20 Wreck Bay Aboriginal Community Council Annual Report 2008–2009 WBACC Operations

Administration The Council employs 10 permanent staff overall and employs casuals during the year when the need arises. The Council Administration has 6 staff including a Chief Executive Officer, General Manager and 4 clerical support staff and the Gudjahgahmiamia Day-Care Centre employs 5 staff including a Director, 4 childcare workers and bus driver. The Council funded by a number sources including the Department of Family, Housing, Community Services and Indigenous Affairs for the purposes of Administration and Land Management, Department of Education Employment and Workplace Relations for a Childcare Centre, Department Human Services for the Centrelink Agent/Access Point facility, Attorney Generals Department provides funding for the purposes of Local Government, Land Council and Housing and the Department of Environment and Heritage for a Community Liaison function for the Joint Management of Booderee National Park. A key role of the Council Administration is to assist the Board in meeting its statutory requirements and to maintain and where possible strengthen the existing partnerships and where opportunities arise develop new partnerships with agencies and that are able to support the Council in achieving outcomes for the Community. The WBACC continues to provide a number of services to the Community. These services can range from direct assistance to referral advice. Assistance provided during the year includes; hh Childcare Centre hh Casual employment opportunities hh Office service facilities hh Postal service hh Support for Educational and Sport hh Support for Health Services hh Provision of housing hh Children’s recreational programs hh Organising Community functions hh Advocacy Service hh Centrelink Agent

Wreck Bay Aboriginal Community Council Annual Report 2008–2009 21 Community Liaison Function The Community Liaison function allows for meaningful involvement by the Wreck Bay Community in the joint management of Booderee National Park. This function is funded annually by Department of Environment, Water, Heritage and the Arts. Community Liaison Office provides a communication link between the Director through park management and the Community Council; it also supports Traditional Owner representatives on the Booderee National Park Board of Management. hh Lease negotiations for Booderee national park are still pending hh Booderee National Park Training Committee hh Joint Management

Centrelink Agent The Council has been contracted by Centrelink to provide a centrelink Access Point for clients to contact Centrelink on issues relating to services that are available to them. Being a Centrelink Access point the Council Administration can provide access to Centrelink forms, publications, telephone and facsimile facilities, and are able to respond to most general enquiries and provide a direct link to Centrelink staff, including specialists if more assistance is needed. As an Agent we are also able to provide access to the internet and assistance to customers in the use of self service products, accept claim forms and other documentation required to be lodged with Centrelink, provide advice on Centrelink and some other Government services and payments.

22 Wreck Bay Aboriginal Community Council Annual Report 2008–2009 Jervis Bay Territory Networking The Councils ongoing commitment to actively participate in the various committees in the Jervis Bay Territory is demonstrated with its involvement to these committees. These Committees provide either advice to other agencies or advice and support to the residents of the Jervis Bay Territory.

Jervis Bay Territory Focus Group hh The main aim of the focus group is to develop and maintain a strong community ethos for the residents in the Jervis Bay Territory. The committee meets every with each having the responsibility to advise and liaise with their respective communities on activities, programs and events that are happening in a local or regional context.

Jervis Bay Territory Public Health and Environment Working Group hh The role of the working group is to identify and deal with issues relating to public health and environment that may impact on people living in or visiting the Jervis Bay Territory. Members of the group include the Council, Department of Transport and Regional Services, Department of Environment and Heritage, ACT Department of Health and Department of Defence. Meetings are held every quarter or when needed due to emergency situations.

Jervis Bay Territory Justice Issues Group hh The main role of the Justice Issues Group (JIG) is to identify issues relating to law and order in the Jervis Bay Territory. hh The Justice Issues Group is made up of the Council, Department of Transport and Regional Services, Department of Environment and Heritage, Department of Defence, Australian Federal Police, ACT Magistrates Court. The JIG meeting is held every three months with options for more meetings should the need arise. Some of the major issues facing the JIG are sentencing options, policing, youth crime and crime prevention, etc.

Jervis Bay Emergency Management Committee hh The role of the Jervis Bay Emergency Management Committee (JBEMC) is to develop emergency action plans for residents, visitors and service providers in the Jervis Bay Territory. hh The JBEMC is made of the Council, Department of Defence, Australia Federal Police, Department of Environment and Heritage, Department Transport & Regional Services and the NSW Regional Bushfire Brigade. The committee meets every three months or when the need arises but each organisation has the responsibility to develop plans for their respective communities.

Wreck Bay Aboriginal Community Council Annual Report 2008–2009 23 General Meetings of the WBACC

Annual General Meeting 2008 The Annual General Meeting (AGM) of the WBACC was called for 10.00am on Sunday 5th October 2008 and the quorum required was 148 Registered Members. At 11.00am 33 Registered Members signed the attendance sheet so the meeting did not proceed as the quorum was not reached. The AGM was then reconvened to 10.00am Sunday 12th October 2008 and the quorum required would be 40 or more registered Members. At 11.00am 76 registered members had signed the attendance sheet so the meeting proceeded. An election was held for all positions of Council with the following result. Paul McLeod was elected Chair, Craig Ardler was elected Deputy Chair, Lorraine Ardler was elected Secretary and Joseph Brown McLeod, Julie Freeman, James McKenzie, Gavin McLeod, Harold Stewart and Jennifer Stewart were elected to the six other positions on the Board. Ten people applied for membership to the WBACC and a ballot was held and the ten applicants received a 2/3 majority yes vote and were accepted onto the WBACC Register of Members. The successful applicants were: Alinta Ardler, Miamba Ardler, Ashleigh Brown, Silvia Brown, Leslie McLeod, Matthew McLeod, Matthew Thomas, Norman Stewart, Lachlan Vale and Chenoa Wellington.

Audit Committee As required by section 32 of the Commonwealth Authorities and Companies Act 1997 the Council has an audit committee made up of: hh Tony Federici: Senior Accountant, Booth & Co. hh Craig Ardler: WBACC Board Member hh Lynette Whaddy: Community Representative

Some of the responsibilities of the Audit Committee are to assist with the: hh WBACC response to the Australian National Audit Office’s management letters. hh Development of a Risk Management Plan for the Council and its subsidiary Wreck Bay Enterprises Limited. hh Development of a Fraud Management Plan for the Council and its subsidiary Wreck Bay Enterprises Limited. hh Commencement of the annual audit program for 2009–10.

24 Wreck Bay Aboriginal Community Council Annual Report 2008–2009 Organisational chart

Council

Board

CEO

WBACC WBEL Admin

Operations Operations

Daycare

Wreck Bay Aboriginal Community Council Annual Report 2008–2009 25 WBEL’s Annual Report 2008–2009

Financial The net financial result for the Company for the 2008–2009 financial year resulted in a loss of $125,486, but after corporate tax adjustment of $10,263 a loss of $115,223 was recorded. This year’s result is $153,772 down from last year’s result of $38,549 after tax, and including Payroll tax obligation. This year the company paid its employees in excess of 1.408 million dollars in staff wages and oncost. This is figure as decreased along with the income and expenditure during the financial year. As in previous years clear targets were used for the various departments in the form of Key Performance Indicators, such as income and revenue, departmental expenses and capital expenditure. Cash flow is followed and managed on a daily basis. Quotations include costs based on accrual accounting. This has gradually increased the margins for each quoted job and project. A rigorous application of these management principles and tools has resulted in an improving performance for some departments during the financial year. The performance of the Building section, which does not have a firm Service Level Agreement, has again been positive over the year, and work is in progress to turn around that department even more. With the announcement of the Global Financial Crisis in October 2008 the business went into the last three quarters with a lot of uncertainly and was forced to offer two redundancies. Overall income loss for the same period last year was $340,955. However, the company did also manage to decreases it’s expenditure by $153,772.

Overview of Operational Activities 2008–2009

Entry Station The Entry Station yielded a net profit of $13,599. The previous Service Level Agreement with the Booderee National Park, which commenced on the 1st of June 2005. A new agreement was negotiated and commenced from March 2009. With the increase of salary and wages across the whole of Wreck Bay Enterprise meant a decrease in opening hours but the same annual payment remained the same. This Service Level Agreement continues to be a success for both parties with the Booderee National Park paying the Wreck Bay Community an additional $25,000 over and above last year’s figures mainly due to the lane closure during peak times.

26 Wreck Bay Aboriginal Community Council Annual Report 2008–2009 Cleaning The Cleaning Section achieved a net result of $41,064, an increase of more than $29,524 over last year’s result. The new SLA with BNP commenced on the 1st December 2008. Also this SLA was rigorously bench marked by the BNP and ourselves. For the second time a second shift was introduced during the peak seasons in summer and Easter time which was very successful: negative comments received from visitors during earlier years when only cleaning during the morning shift was conducted were reduced to zero. Regular cleaning work was also conducted for the WBACC.

Horticulture This department achieved a result of $13,757 before tax, which is an increase of $20,000 over last year’s result. Work for Serco continues to be a welcome addition to the workload of the department. This contract is for a minimum of five years, with an option of an extension of three years. We are now in the third year of the contract. Bitou Bush eradication continued during the year. Through funding under the Advancement Rights to Land and Sea (ARLS) administered by the Wreck Bay Council, Bitou Bush is being met head on either by spraying or digging up the roots.

Wreck Bay Aboriginal Community Council Annual Report 2008–2009 27 Roads The net result for Roads was $48,286 for the year, which is an increase of almost $19,306 over last year. This is mainly due to a heavy workload for the BNP in the May-June period, as well as increased efficiencies in the department. Although the section achieved a higher profit than last year this section is still looked upon as the flagship of the company. Uncertainness caused by the Global Financial Crisis made the profit even better for this section. The SLA for Roads gives a guaranteed income of $23,996 per month. As mentioned above, additional income from non-routine works in Booderee National Park and the WBACC brought this section well above its break- even point.

Building As reported last year, the problem with the Building section is that there is no SLA specifically for that department. Work was, however, available from BNP and WBACC, which brought the total annual income up to just over $284,437, which then resulted in a loss of $19,159. The outlook for the coming financial year looks tight for the Building Section and they have now been amalgamated with the Roads section. Furthermore, as before, a lot hinges on money being made available for the repair and maintenance of houses in the Wreck Bay Community.

Mechanics Department This department earns its income from the interdepartmental repair and maintenance of trucks, vehicles and equipment, and on average achieves break-even. Work on the re-engineering of heavy machinery such as a roller and a heavy duty 10 tonne truck was performed during 2006–2007 financial year. This was a combination of capital expenditure and direct expenses with the result of a deficit of $52,303 which could not be distributed to any one of the departments. The department moved in to the bigger work shop for which we have a licence, and a hoist was installed, which has contributed considerably to the efficiency and effectiveness of the department, at the same time increasing the safety for working in the work shop under trucks and cars. Commencing from 2009–2010 this section will be rolled into the administration section and all sections will only charged for the costing of parts. Any administration costs will be absorbed by all sections.

Administration The Admin section has its own SLA with the Wreck Bay Aboriginal Community Council, in that it provides administration services for the Council. The income generated by the Administration section is used to decrease the total expense of that section, thereby minimising the management fees attributable pro-rata to the various sections on the basis of their turnover.

28 Wreck Bay Aboriginal Community Council Annual Report 2008–2009 Training

Equipment Training Students from the Community and from WBEL have participated in training on Forklifts, Front-end Loader, Skid-steer and Backhoe, as well as in training for a ‘Green Card’. This training is also funded by the Government.

First Aid Training First Aid training is an ongoing process which regularly updates first-aiders’ competence.

Organisational

Employment The present level of employment is 15 permanent full-time employees, with three permanent part-time operators and an additional 5 or even 7 casuals being employed from time to time. Casuals are mainly needed in times of annual leave of the permanents, and for the second shift in the cleaning section during peak season.

Envisaged level of employment A significant increase in the level of employment is not foreseen for some time to come, unless money for the upgrade of houses in the Wreck Bay Community becomes available. Due to the current Global Financial Crisis WBEL was forced to offer two redundancies.

Service Level Agreements

SLA for Roads Completed, accepted and signed, after approval by the Director of Parks. This SLA commenced on 1st December 2004. Value for routine works: $287,951 per annum, almost $23,996 per month, excluding GST. This SLA was thoroughly benchmarked with the help of outside expertise.

Wreck Bay Aboriginal Community Council Annual Report 2008–2009 29 SLA for Entry Station Completed and signed, commenced on 1st June 2005, with a value of $13,847 per month, excluding GST. This SLA was also benchmarked by an outside company.

SLA for Cleaning Completed and signed, commenced 1st December 2006, with a value of $360,948 excluding GST, or $30,079 per month. This SLA was benchmarked by an outside company with worldwide experience in the area of industrial cleaning.

SLA for Grounds Maintenance This SLA has not been started yet by BNP. It is at the moment undergoing a continual period in order to establish a feasible routine for the maintenance of lawns and paths in the Booderee Botanic Gardens.

30 Wreck Bay Aboriginal Community Council Annual Report 2008–2009 SLAs included in Phase 2 hh Vehicle Maintenance hh Visitor Centre hh Weed Control hh Feral Control hh Grounds Maintenance hh Administration hh Building Time for the start of these SLAs has not yet been determined.

Future Outlook for WBEL The future outlook for WBEL as referred to in the above looks good for those departments that have the benefit of an SLA for the next two years and more. This covers all sections with the exception of the Building Department. For the 2009–2010 financial year the Building Department will merge with the Roads as staff in both areas are multi-skilled and can actively apply themselves for the betterment of the section. The future for all other departments looks promising, especially if the efficiency and effectiveness in all sections continues to improve. This will be especially necessary since the budgets for the Booderee National Park and the WBACC will be very tight for the 2009–2010 and future years. However, with ever increasing efficiencies within the framework of guaranteed incomes from the SLAs, there is a definite possibility to achieve again our paramount goal of a net profit level of 5% of turnover, which will mean a net profit of almost $100,000 per annum before taxes and provisions.

Neville Hampton General Manager WBEL 16 September 2009

Wreck Bay Aboriginal Community Council Annual Report 2008–2009 31 32 Wreck Bay Aboriginal Community Council Annual Report 2008–2009 WBACC Financial Statement

Item Independent Auditor’s report 34 Directors’ Declaration 36 Income Statement 37 Balance Sheet 38 Statement of Changes in Equity 39 Cash Flow Statement 40 Schedules of Commitments & Contingencies 41 Notes to and forming part of the financial statements 42

Wreck Bay Aboriginal Community Council Annual Report 2008–2009 33

34 Wreck Bay Aboriginal Community Council Annual Report 2008–2009 Wreck Bay Aboriginal Community Council Annual Report 2008–2009 35  

 



   

 



 



 







36 Wreck Bay Aboriginal Community Council Annual Report 2008–2009 Wreck Bay Aboriginal Community Council ABN: 62 564 797 956 Income Statement for the year ended 30th June 2009

Consolidated Council Note 2009 2008 2009 2008 $ $ $ $ Revenue Revenues from Government 4A 1,172,553 1,306,238 1,172,553 1,306,238 Sale of services 4B 2,251,223 2,509,101 638,802 564,632 Interest income 4C 111,137 32,829 107,951 24,124 Total Revenue 3,534,913 3,848,168 1,919,307 1,894,994

Gains Net gain/(loss) from disposal of assets 4D 14,067 - - -

TOTAL INCOME 3,548,980 3,848,168 1,919,307 1,894,994

Expenses Employees 5A 2,168,360 2,095,423 763,179 632,893 Suppliers 5B 674,594 698,528 470,363 337,525 Occupancy expenses 5C 49,388 74,211 86,535 113,682 Community grants 5D 82,843 72,300 86,930 73,846 Depreciation expense 5E 284,123 242,194 178,536 176,004 Loss on disposal of assets 5F - 13,666 - 13,666 Other expenses 519,542 521,545 438,148 481,448 TOTAL EXPENSES 3,778,850 3,717,867 2,023,691 1,829,064

Operating result before income tax (229,870) 130,301 (104,384) 65,930

Income tax (expense)/benefit 5G 10,263 (25,822) - -

Operating Result (219,607) 104,479 (104,384) 65,930

The above statement should be read in conjunction with the accompanying notes.

Wreck Bay Aboriginal Community Council Annual Report 2008–2009 37 Wreck Bay Aboriginal Community Council ABN: 62 564 797 956 Balance Sheet As at 30th June 2009 Consolidated Council ASSETS Note 2009 2008 2009 2008 $ $ $ $ Financial assets Cash 6A 161,189 1,293,478 303,856 1,385,999 Investment in Term Deposit 6B 1,346,967 323,000 1,346,967 323,000 Receivables 6C 259,986 279,772 125,456 49,018 Investments in subsidiary 6D - - 342,522 342,522 Loans to subsidiary 6E - - 150,000 150,000 Total financial assets 1,768,142 1,896,250 2,268,801 2,250,539 Non-financial assets Land & Buildings 7A,D 43,929,109 41,888,844 43,718,850 41,687,350 Infrastructure, plant & equipment 7B,D 411,633 367,326 34,800 39,763 Leased Vehicles 7C 133,271 158,258 - - Vehicles 7C 191,374 216,369 71,415 82,781 Total non-financial assets 44,665,387 42,630,797 43,825,065 41,809,894 Total Assets 46,433,529 44,527,047 46,093,866 44,060,433

LIABILITIES Provisions Employees 8A 293,589 333,846 70,683 66,394 Total provisions 293,589 333,846 70,683 66,394 Payables Suppliers 9A 1,384,183 1,382,490 1,380,669 1,432,580 Borrowings 10 257,953 252,685 - - Current tax liability 5G - 26,054 - - Deferred tax liability 5G 20,355 20,355 - - Total payables 1,662,491 1,681,584 1,380,669 1,432,580 Total liabilities 1,956,080 2,015,430 1,451,352 1,498,974 Net Assets 44,477,449 42,511,617 44,642,514 42,561,459 EQUITY Parent entity interest Reserves 19,456,522 17,271,083 19,409,029 17,223,590 Accumulated surplus 25,020,927 25,240,534 25,233,485 25,337,869 Total parent entity interest 44,477,449 42,511,617 44,642,514 42,561,459

Total equity 44,477,449 42,511,617 44,642,514 42,561,459

Current liabilities 1,737,971 1,964,124 1,446,649 1,493,812 Non-current liabilities 218,109 51,306 4,703 5,162 Current assets 1,768,142 1,896,250 1,776,279 1,758,017 Non-current assets 44,665,387 42,630,797 44,317,587 42,302,416

The above statement should be read in conjunction with the accompanying notes.

38 Wreck Bay Aboriginal Community Council Annual Report 2008–2009 Wreck Bay Aboriginal Community Council ABN: 62 564 797 956 Statement of Changes in Equity for the year ended 30th June 2009

Consolidated Asset Revaluation Accumulated Surplus Total Equity Reserve 2009 2008 2009 2008 2009 2008

Opening Balance 25,240,534 25,136,055 17,271,083 17,671,649 42,511,617 42,807,704

Income and Expense

Revaluation adjustment - - 2,185,439 (400,566) 2,185,439 (400,566)

Subtotal income and expenses recognised directly in equity - - 2,185,439 (400,566) 2,185,439 (400,566)

Net Operating Result (219,607) 104,479 - - (219,607) 104,479

Total income and expenses (219,607) 104,479 2,185,439 (400,566) 1,965,832 (296,087)

Closing Balance at 30 June 25,020,927 25,240,534 19,456,522 17,271,083 44,477,449 42,511,617

Council Asset Revaluation Accumulated Surplus Total Equity Reserve

2009 2008 2009 2008 2009 2008

Opening Balance 25,337,869 25,271,939 17,223,590 17,624,156 42,561,459 42,896,095

Income and Expense

Revaluation adjustment - - 2,185,439 (400,566) 2,185,439 (400,566)

Subtotal income and expenses recognised directly in equity - - 2,185,439 (400,566) 2,185,439 (400,566)

Net Operating Result (104,384) 65,930 - - (104,384) 65,930

Total income and expenses (104,384) 65,930 2,185,439 (400,566) 2,081,055 (334,636)

Closing Balance at 30 June 25,233,485 25,337,869 19,409,029 17,223,590 44,642,514 42,561,459

Wreck Bay Aboriginal Community Council Annual Report 2008–2009 39 Wreck Bay Aboriginal Community Council ABN: 62 564 797 956 Cash Flow Statement for the year ended 30th June 2009

Consolidated Council Note 2009 2008 2009 2008 $ $ $ $ OPERATING ACTIVITIES Cash received Grants 1,185,264 1,306,238 1,185,264 1,306,238 Sales of services 2,410,861 3,494,681 630,515 1,674,025 Interest 42,514 19,180 39,328 10,475

Total cash received 3,638,639 4,820,099 1,855,107 2,990,738 Cash used Community Grants (81,645) (93,431) (85,733) (94,977) Employees (757,347) (2,089,685) (758,643) (627,155) Suppliers (2,773,058) (1,344,800) (1,060,640) (952,663) Finance costs (20,973) (10,952) - - Total cash used (3,633,023) (3,538,868) (1,905,016) (1,674,795)

Net cash from operating activities 11b 5,616 1,281,231 (49,909) 1,315,943

INVESTING ACTIVITIES Cash received Proceeds on sale of property, plant & equipment 27,727 22,000 - 22,000 Total cash received 27,727 22,000 - 22,000 Cash used Purchase of property, plant & equipment (146,935) (451,403) (8,267) (36,177) Total cash used (146,935) (451,403) (8,267) (36,177)

Net cash (used by) investing activities (119,208) (429,403) (8,267) (14,177)

FINANCING ACTIVITIES Cash received Proceeds from loans 73,250 166,587 - - Total cash received 73,250 166,587 - - Cash used Repayment of loans (67,981) (51,446) - - Total cash (used by) / from financing activies (67,981) (51,446) - - Net cash from/(used by) financing activities 5,269 115,141 - -

Net increase/(decrease) in cash held (108,323) 966,969 (58,176) 1,301,766 Cash at the beginning of the year 1,616,478 649,509 1,708,999 407,233 Cash at the end of the year 11a 1,508,155 1,616,478 1,650,823 1,708,999

The above statement should be read in conjunction with the accompanying notes.

40 Wreck Bay Aboriginal Community Council Annual Report 2008–2009 Wreck Bay Aboriginal Community Council ABN: 62 564 797 956 Schedules of Commitments & Contingencies As at the 30th June 2009

Consolidated Council 2009 2008 2009 2008 $ $ $ $ SCHEDULE OF COMMITMENTS

Commitments Receivable GST Recoverable on commitments 1,962 - 1,962 - Total Commitments Receivable 1,962 - 1,962 -

Commitments Payable Other Commitments Operating leases 21,587 - 21,587 - Total Other Commitments 21,587 - 21,587 - Net Commitments by Type 19,625 - 19,625 -

BY MATURITY CommitmentsReceivable Operating Lease Income One year or less 1,239 - 1,239 - From one to five years 723 - 723 - Total Operating Lease Income 1,962 - 1,962 -

Commitments Payable Operating Lease Commitments One yea ror less 13,634 - 13,634 - From one to five years 7,953 - 7,953 - Total Operating Lease Commitments 21,587 - 21,587 - Net Commitments by Maturity 19,625 - 19,625 - NB: Commitments are GST inclusive where relevant

The operating lease included is effectively non-cancellable and is for a motor vehicle provided to the Community Support Officer. This is paid monthly for a period of 2 years.

SCHEDULE OF CONTINGENCIES

Contingent Liability

The Council has provided a guarantee and indemnity limited to $180,000 for the bank loan obtained by its controlled entity Wreck Bay Enterprises Limited.

Wreck Bay Aboriginal Community Council Annual Report 2008–2009 41 Wreck Bay Aboriginal Community Council ABN: 62 564 797 956 Notes to and forming part of the financial statements As at the 30th June 2009

Note 1: Summary of Significant Accounting Policies 1.1 Basis of Preparation of the Financial Statements The financial statements and notes are required by clause 1(b) of schedule 1 to the Commonwealth Authorities and Companies Act 1997 and are a General Purpose Financial Report. The continued existence of the Council in its present form and with its present programs is dependant on Government policy and on continuing appropriations by Parliament for the Council’s administration and programs. The financial statements and notes have been prepared in accordance with: hh Finance Minister’s Orders (or FMOs) for reporting periods ending on or after 1 July 2008; and hh Australian Accounting Standards and Interpretations issued by the Australian Accounting Standards Board (AASB) that apply for the reporting period. The financial report has been prepared on an accrual basis and is in accordance with historical cost convention, except for certain assets at fair value. Except where stated, no allowance is made for the effect of changing prices on the results or the financial position. The financial report is presented in Australian dollars and values are rounded to the nearest dollar unless otherwise specified. Unless an alternative treatment is specifically required by an Accounting Standard or the FMOs, assets and liabilities are recognised in the Council and Consolidated Balance Sheets when and only when it is probable that future economic benefits will flow to the entity and the amounts of the assets or liabilities can be reliably measured. However, assets and liabilities arising under agreements equally proportionately unperformed are not recognised unless required by an accounting standard. Unless alternative treatment is specifically required by an accounting standard, revenues and expenses are recognised in the Council and Consolidated Income Statements when and only when the flow, consumption or loss of economic benefits has occurred and can be reliably measured. 1.2 Significant Accounting Judgments and Estimates In the process of applying the accounting policies listed in this note, Council has made the following judgements that have the most significant impact on the amounts recorded in the financial statements: hh The fair value of land and buildings has been taken to be the market value of similar properties as determined by an independent valuer.

42 Wreck Bay Aboriginal Community Council Annual Report 2008–2009 Wreck Bay Aboriginal Community Council ABN: 62 564 797 956 Notes to and forming part of the financial statements As at the 30th June 2009

No accounting assumptions or estimates have been identified that have a significant risk of causing a material adjustment to carrying amounts of assets and liabilities within the next accounting period. 1.3 Principles of Consolidation The consolidated financial statements are those of the economic entity, comprising Wreck Bay Aboriginal Community Council (the parent entity) and Wreck Bay Enterprises Limited. The accounts of Wreck Bay Enterprises Limited are prepared for the period 1 July 2008 to 30 June 2009 using accounting policies which are consistent with those of the Council. The effects of transactions and balances between the entities are eliminated in full. 1.4 New Accounting Standards Adoption of new Australian Accounting Standard requirements No accounting standard has been adopted earlier than the application date as stated in the standard. No new accounting standards, amendments to standards and interpretations issued by the Australian Accounting Standards Board that are applicable in the current period have had a material financial affect on the Council and consolidated entity.

Future Australian Accounting Standard requirements New standards, amendments to standards, and interpretations that are applicable to future periods have been issued by the Australian Accounting Standards Board. It is estimated that adopting these pronouncements, when effective, will have no material impact on future reporting periods. 1.5 Revenue The revenues described in this Note are revenues relating to the core operating activities of the Council and consolidated entity. Revenue from the sales of goods is recognised when: hh The risks and rewards of ownership have been transferred to the buyer; hh The seller retains no managerial involvement nor effective control over the goods; hh The revenue and transaction costs incurred can be reliably measured; and hh It is probable that the economic benefits associated with the transactions will flow to the Council. Revenue from rendering of services is recognised by reference to the stage of completion of contracts at the reporting date. The revenue is recognised when:

Wreck Bay Aboriginal Community Council Annual Report 2008–2009 43 Wreck Bay Aboriginal Community Council ABN: 62 564 797 956 Notes to and forming part of the financial statements As at the 30th June 2009

hh The amount of revenue, stage of completion and transaction costs incurred can be reliably measured; and hh The probable economic benefits from the transaction will flow to the Council. The stage of completion of contracts at the reporting date is determined by reference to the proportion that costs incurred to date bear to the estimated total costs of the transaction. Receivables for goods and services, which have 30 day terms, are recognised at the nominal amounts due less any provision for bad and doubtful debts. Collectability of debts is reviewed at balance date. Provisions are made when collectability of the debt is no longer probable. Interest Revenue is recognised on a proportional basis taking into account the interest rates applicable to the financial assets.

Revenue from Government Grants received from Commonwealth Departments for the year are recognised in the period to which they relate. 1.6 Gains Sale of Assets Gains from disposals of non-current assets are recognised when control of the asset has passed to the buyer. 1.7 Employee Benefits Liabilities for services rendered by employees are recognised at the reporting date to the extent that they have not been settled. Liabilities for ‘short-term employee benefits’ (as defined AASB 119) and termination benefits due within twelve months of balance date are measured at their nominal amounts. The nominal amount is calculated with regard to the rates expected to be paid on settlement of the liability. All other employee benefit liabilities are measured at the present value of the estimated future cash outflows to be made in respect of services provided by employees up to the reporting date.

Leave The liability for employee benefits includes provision for annual leave and long service leave. No provision has been made for sick leave as all sick leave is paid out at financial year end.

44 Wreck Bay Aboriginal Community Council Annual Report 2008–2009 Wreck Bay Aboriginal Community Council ABN: 62 564 797 956 Notes to and forming part of the financial statements As at the 30th June 2009

The leave liabilities are calculated on the basis of employees’ remuneration, including the Council’s employer superannuation contribution rates, to the extent that the leave is likely to be taken during service rather than paid out on termination. The liability for long service leave takes into account attrition rates and pay increases through promotion and inflation.

Superannuation Employees of Wreck Bay Aboriginal Community Council (parent entity), and Wreck Bay Enterprises Limited are members of the AMP Superleader Scheme and the Health Employees Superannuation Trust Australia (HESTA). Employer Contributions amounting to $106,080 (2007–08: $111,761) for the economic entity and $59,089 (2007–08: $43,114) for the Council, in relation to these schemes have been expensed in these financial statements. The liability for superannuation recognised as at 30 June represents outstanding contributions for the final fortnight of the year. 1.8 Leases A distinction is made between finance leases and operating leases. Finance leases effectively transfer from the lessor to the lessee substantially all the risks and rewards incidental to ownership of leased non-current assets. An operating lease is a lease that is not a finance lease. In operating leases, the lessor effectively retains substantially all such risks and benefits. Where a non-current assets is acquired by means of a finance lease, the asset is capitalised at either the fair value of the lease property or, if lower, the present value of minimum lease payments at the inception of the contract and a liability is recognised a the same time and for the same amount. The discount rate used is the interest rate implicit in the lease. Leased assets are amortised over the period of the lease. Lease payments are allocated between the principal component and the interest expense. Operating lease payments are expensed on a straight-line basis which is representative of the pattern of benefits derived from the leased assets. 1.9 Borrowing Costs All borrowing costs are expensed as incurred. 1.10 Cash Cash and cash equivalents includes notes and coins held and any deposits in bank accounts with an original maturity of 3 months or less that are readily convertible to known amounts of cash and subject to insignificant risk of changes in value. Cash is recognised at its nominal amount.

Wreck Bay Aboriginal Community Council Annual Report 2008–2009 45 Wreck Bay Aboriginal Community Council ABN: 62 564 797 956 Notes to and forming part of the financial statements As at the 30th June 2009

1.11 Financial Assets Council classifies its financial assets in the following categories: hh ‘Loans and receivables’. The classification depends on the nature and purpose of the financial assets and is determined at the time of initial recognition. Financial assets are recognised and derecognised upon ‘trade date’.

Loans and Receivables Trade receivables, loans and other receivables that have fixed or determinable payments that are not quoted in an active market are classified as ‘loans and receivables’. They are included in current assets, except for maturities greater than 12 months after the balance sheet date. These are classified as non-current assets. Loans and receivables are measured at amortised cost less impairment.

Impairment of Financial Assets Financial assets are assessed for impairment at each balance date. hh Financial assets held at amortised cost – If there is objective evidence that an impairment loss has been incurred for loans and receivables or held to maturity investments held at amortised cost, the amount of the loss is measured as the difference between the asset’s carrying amount and the present value of estimated future cash flows discounted at the asset’s original effective interest rate. The carrying amount is reduced by way of an allowance account. The loss is recognised in the income statement. 1.12 Financial Liabilities Financial liabilities are classified as either financial liabilities ‘at fair value through profit or loss’ or other financial liabilities. Financial liabilities are recognised and derecognised upon ‘trade date’.

Other Financial Liabilities Other financial liabilities, including borrowings, are initially measured at fair value, net of transaction costs. Other financial liabilities are subsequently measured at amortised cost using the effective interest method, with interest expense recognised on an effective yield basis.

46 Wreck Bay Aboriginal Community Council Annual Report 2008–2009 Wreck Bay Aboriginal Community Council ABN: 62 564 797 956 Notes to and forming part of the financial statements As at the 30th June 2009

The effective interest method is a method of calculating the amortised cost of a financial liability and of allocating interest expense over the relevant period. The effective interest rate is the rate that exactly discounts estimated future cash payments through the expected life of the financial liability, or, where appropriate, a shorter period.

Supplier and Other Payables Supplier and other payables are recognised at amortised cost. Liabilities are recognised to the extent that the goods or services have been received (and irrespective of having been invoiced). 1.13 Contingent Liabilities and Contingent Assets Contingent Liabilities and Contingent Assets are not recognised in the balance sheet but are reported in the relevant schedules and notes. They may arise from uncertainty as to the existence of a liability or asset or represent an asset or liability in respect of which the amount cannot be reliably measured. Contingent assets are disclosed when settlement is probable but not virtually certain and contingent liabilities are disclosed when settlement is greater than remote. 1.14 Financial Guarantee Contracts Financial guarantee contracts are accounted for in accordance with AASB 139. They are not treated as a contingent liability, as they are regarded as financial instruments outside the scope of AASB 137. 1.15 Acquisition of Assets Assets are recorded at cost on acquisition except as stated below. The cost of the acquisition includes the fair value of assets transferred in exchange and liabilities undertaken. Financial assets are initially measured at their fair value plus transaction costs where appropriate. Assets acquired at no cost, or for nominal consideration, are initially recognised as assets and revenues at their fair value at the date of acquisition. 1.16 Property, Plant and Equipment Asset Recognition Threshold Purchases of property, plant and equipment are recognised initially at cost in the balance sheet, except for purchases costing less than $300, which are expensed in

Wreck Bay Aboriginal Community Council Annual Report 2008–2009 47 Wreck Bay Aboriginal Community Council ABN: 62 564 797 956 Notes to and forming part of the financial statements As at the 30th June 2009

the year of acquisition (other than where they form part of a group of similar items which are significant in total).

Revaluations Fair values for each class of asset are determined as shown below:

Asset Class Fair value measured at

Land Market value

Buildings Exc. Leasehold Improvements Market value

Leasehold Improvements Depreciated replacement cost

Plant & Equipment Depreciated replacement cost

Following initial recognition at cost, property plant and equipment are carried at fair value less accumulated depreciation and accumulated impairment losses. Valuations are conducted with sufficient frequency to ensure that the carrying amounts of assets do not differ materially from the assets’ fair values at the reporting date. The regularity of independent valuations depends upon the volatility of movements in market values for the relevant assets. Revaluation adjustments are made on a class basis. Any revaluation increment is credited to equity under the heading of asset revaluation reserve except to the extent that it reverses a previous revaluation decrement of the same asset class that was previously recognised directly through operating result except to the extent that they reverse a previous revaluation increment for that class. Any accumulated depreciation as at the revaluation date is eliminated against the gross carrying amount of the asset and the asset restated to the revalued amount.

Depreciation Depreciable property plant and equipment assets are written-off to their estimated residual values over their estimated useful lives to Council using, in all cases, the straight-line method of depreciation. Leasehold improvements are amortised on a straight-line basis over the lesser of the estimated useful life of the improvements or the unexpired period of the lease. Depreciation rates (useful lives), residual values and methods are reviewed at each reporting date and necessary adjustments are recognised in the current, or current and future reporting periods, as appropriate. Depreciating rates applying to each class of depreciable asset are based on the following useful lives:

48 Wreck Bay Aboriginal Community Council Annual Report 2008–2009 Wreck Bay Aboriginal Community Council ABN: 62 564 797 956 Notes to and forming part of the financial statements As at the 30th June 2009

2009 2008

Buildings on freehold land 40 years 40 years

Plant and Equipment 3 to 10 years 3 to 10 years

The aggregate amount of depreciation allocated for each class of asset during the reporting period disclosed in Note 5E.

Impairment All assets were assessed for impairment at 30 June 2009. Where indications of impairment exist, the asset’s recoverable amount is estimated and an impairment adjustment made if the asset’s recoverable amount is less than its carrying amount. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. Value in use is the present value of the future cash flows expected to be derived from the asset. Where the future economic benefit of an asset is not primarily dependent on the asset’s ability to generate future cash flows, and the asset would be replaced if Council were deprived the asset, its value in use is take to be its depreciated replacement cost. No indicators of impairment were found for assets at fair value. 1.17 Taxation The Council is exempt from all forms of taxation except fringe benefits tax and the goods and services tax. However, pursuant to a ruling issued by the Australian Taxation Office in May 2002, the Council’s controlled entity, Wreck Bay Enterprises Limited; is not exempt from income tax.

Income Tax The charge for current income tax expense is based on the profit for the year adjusted for any non-assessable or disallowed items. It is calculated using tax rates that have been enacted or are substantially enacted by the balance sheet date. Deferred tax is accounted for using the balance sheet liability method in respect of temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements. No deferred income tax will be recognised from the initial recognition of an asset or liability where there is no effect on accounting or taxable profit or loss.

Wreck Bay Aboriginal Community Council Annual Report 2008–2009 49 Wreck Bay Aboriginal Community Council ABN: 62 564 797 956 Notes to and forming part of the financial statements As at the 30th June 2009

Deferred tax is calculated at the tax rates that are expected to apply to the period when the asset is realised or the liability is settled. Deferred tax is credited to the income statement except where it relates to items that may be credited directly to equity, in which case the deferred tax is adjusted directly against equity. Deferred income tax assets are recognised to the extent that it is probable that future tax profits will be available against which deductible temporary differences can be utilised. hh The amount of the benefits brought to account or which may be realised in the future is based on the assumption that no adverse change will occur in income taxation legislation and the anticipation that the company will derive sufficient future assessable income to enable the benefit to be realised and comply with the conditions of deductibility imposed by the law. Revenues, expenses and assets are recognised net of GST: hh Except where the amount of GST incurred is not recoverable from the Australian Taxation Office; and hh Except for receivables and payables. 1.18 Insurance The Council places its general insurance through Austbrokers Insurance Pty Ltd. General insurance is placed with AIB Insurance Brokers, directors and officers insurance with QBE Insurance, motor vehicle cover with Allianz Australia Insurance Ltd and workers compensation is insured through Comcare.

Note 2: Economic Dependency The Wreck Bay Aboriginal Community Council was established by the Aboriginal Land Grant – Jervis Bay Territory ACT 1986. The Council is dependent on grants from the Commonwealth for its continued existence and ability to carry out its normal activities.

Note 3: Events after the Balance Sheet Date There has not been any event after balance date that has not been brought to account in the 2009 Financial Report.

50 Wreck Bay Aboriginal Community Council Annual Report 2008–2009 Wreck Bay Aboriginal Community Council ABN: 62 564 797 956 Notes to and forming part of the financial statements for the year ended 30th June 2009 Consolidated Council Note 2009 2008 2009 2008 $ $ $ $ Note 4: Income Note 4A: Revenue from Government ICC 499,864 490,060 499,864 490,060 SRA Funding - 63,623 - 63,623 Attorney Generals Grant 223,889 359,815 223,889 359,815 Environment Australia 105,000 105,000 105,000 105,000 MACS 212,915 210,140 212,915 210,140 Community Support Officer 32,830 - 32,830 - MACS Capital Grant 98,055 41,600 98,055 41,600 Southern Rivers Catchment - 36,000 - 36,000 Total revenue from Government 1,172,553 1,306,238 1,172,553 1,306,238 Note 4B: Commercial income Sale of services 1,472,555 1,792,478 28,505 23,583 Housing rentals 46,298 18,124 46,298 18,124 Park lease – annual rental 251,836 238,228 251,836 238,228 – 25% of park income 274,297 248,950 274,297 248,950 Daycare fees 3,350 1,943 3,350 1,943 Other income 202,887 209,378 34,517 33,804 Total sales of services 2,251,223 2,509,101 638,802 564,632 Rendering of services to: Related entities 46,298 18,124 46,298 18,124 External entities 2,204,925 2,490,977 592,504 546,508 Total rendering of services 2,251,223 2,509,101 638,802 564,632 Note 4C: Interest income Bank interest 111,137 32,829 107,951 24,124 Note 4D: Gains Plant & Equipment Proceeds on disposal 27,727 - - - Net book value (13,660) - - - Gain/(Loss) on disposal 14,067 - - - Total Income 3,548,980 3,848,168 1,919,307 1,894,994 Note 5: Operating expenses Note 5A: Employee expenses Wages and Salaries 1,731,603 1,674,409 598,333 484,808 Superannuation – Defined Contribution Plan 165,169 154,875 59,089 43,114 Leave and other entitlements 227,967 196,470 62,136 35,302 Director's reimbursements 43,622 69,669 43,622 69,669 Total employee expenses 2,168,360 2,095,423 763,179 632,893

Both the Council and its controlled entity contribute to the AMP Super Leader & HESTA schemes which provide retirement, death and disability benefits to employees. Contributions to the schemes are at rates calculated to cover existing and emerging obligations. Current contribution rate during 2008/2009 was 9% of base salary (2007/2008: 9%).

Wreck Bay Aboriginal Community Council Annual Report 2008–2009 51 Wreck Bay Aboriginal Community Council ABN: 62 564 797 956 Notes to and forming part of the financial statements for the year ended 30th June 2009

Consolidated Council Note 2009 2008 2009 2008 $ $ $ $ Note 5B: Suppliers External suppliers Supply of materials & subcontract services 674,594 698,528 181,728 101,705

Supplies by controlled entity Supply of materials & subcontract services - - 288,635 235,820 674,594 698,528 470,363 337,525 Note 5C: Occupancy expenses Rents 500 15,743 - - Repairs & maintenance 1,646 17,167 15,116 47,951 Water rates 22,896 17,969 22,896 17,969 Other 24,346 23,332 48,522 47,762 49,388 74,211 86,535 113,682 Note 5D: Community Grants Other grants and activities 82,843 72,300 86,930 73,846 82,843 72,300 86,930 73,846 Note 5E: Depreciation expense Depreciation of property plant and equipment 284,123 242,194 178,536 176,004 The aggregate amounts of depreciation expensed during the reporting period for each class of depreciable asset are as follows: Buildings & roads 165,044 162,179 153,939 159,434 Computer equipment 13,770 7,796 6,260 3,942 Furniture & fittings 3,621 1,492 2,507 1,000 Plant & equipment 49,429 38,985 4,464 2,262 Leased motor vehicles 24,987 8,329 - - Motor vehicles 27,272 23,413 11,366 9,366 284,123 242,194 178,536 176,004 Note 5F: Losses Vehicles Proceeds on disposal - (22,000) - (22,000) Net book value - 35,666 - 35,666 (Gain)/Loss on disposal - 13,666 - 13,666

52 Wreck Bay Aboriginal Community Council Annual Report 2008–2009 Wreck Bay Aboriginal Community Council ABN: 62 564 797 956 Notes to and forming part of the financial statements for the year ended 30th June 2009

Consolidated Council Note 2009 2008 2009 2008 $ $ $ $

Note 5G: Income Tax

The income tax disclosure relates to Council’s controlled entity, Wreck Bay Enterprises Limited and has been computed pursuant to the accounting policy under note 1.17 a) Income tax expense Profit/(loss) from ordinary activites before income tax. (125,486) 64,372 - -

Prima facie income tax expense/(benefit) calculated at 30% (2008 30%) (37,646) 19,311 - - Tax effect of temporary differences 7,918 13,585 - - Adjustment for (over)/under provision in prior years (10,263) (7,074) - - Unrecognised tax losses not brought to account 29,728 Income tax expense (10,263) 25,822 - -

b) Deferred tax asset and liability Deferred tax liability Revaluation adjustment on non-current assets taken directly to equity 20,355 20,355 - -

Deferred tax assets Deferred tax assets not brought to account the benefits of which will only be realised if the conditions for deductibilty set out in Note 1.17 occur: Tax losses carried forward - - - - Temporary differences 60,995 75,338 - - 60,995 75,338 - -

Equity: Asset revaluation reserve Opening Balance at beginning of the year 47,495 47,495 - - Deferred tax liability on revaluation - - - - Closing Balance at the end of the year 47,495 47,495 - -

Wreck Bay Aboriginal Community Council Annual Report 2008–2009 53 Wreck Bay Aboriginal Community Council ABN: 62 564 797 956 Notes to and forming part of the financial statements for the year ended 30th June 2009

Consolidated Council Note 2009 2008 2009 2008 $ $ $ $

Note 6: Financial Assets

Note 6A: Cash Cash at bank 159,989 1,292,278 303,856 1,385,999 Cash on hand 1,200 1,200 - - 161,189 1,293,478 303,856 1,385,999

Note 6B:Short Term Investment Term Deposit 1,346,967 323,000 1,346,967 323,000 Total investments 1,346,967 323,000 1,346,967 323,000

Other financial assets are expected to be recovered in: Less than 12 months 1,346,967 323,000 1,346,967 323,000 More than 12 months - - - - Total Investments 1,346,967 323,000 1,346,967 323,000

Balance of cash at 30th June shown in the Cash Flow Statement 1,508,156 1,616,478 1,650,824 1,708,999

54 Wreck Bay Aboriginal Community Council Annual Report 2008–2009 Wreck Bay Aboriginal Community Council ABN: 62 564 797 956 Notes to and forming part of the financial statements for the year ended 30th June 2009

Consolidated Council Note 2009 2008 2009 2008 $ $ $ $ Note 6C: Receivables Goods and services 187,106 288,568 65,628 57,813 Income Tax Refund 13,053 - - - Interest Receivable 82,272 13,649 82,272 13,649 Less: Impairment Allowance Account (22,445) (22,445) (22,445) (22,445) Total receivables (net) 259,986 279,772 125,455 49,017

All receivables are current assets

Receivables (gross) are aged as follows:

Not overdue 142,316 248,051 43,183 30,343 Overdue by: - less than 30 days 1,079 - - - - 30 to 60 days 564 6,310 - - - 60 to 90 days 373 7,277 - - - more than 90 days 42,774 26,930 22,445 27,470 Total receivables (gross) 187,106 288,568 65,628 57,813

The impairment allowance account is aged as follows

Not overdue - - - - Overdue by: - less than 30 days - - - - - 30 to 60 days - - - - - 60 to 90 days - - - - - more than 90 days 22,445 22,445 22,445 22,445 Total provision for doubtful debts 22,445 22,445 22,445 22,445

Note 6D: Investments in controlled entity Non-current:Share in Wreck Bay Enterprises Limited (WBEL) (transferred plant & equipment, at cost) - - 342,522 342,522 Note 6E: Loans to controlled entity Non-current: Long term loans (WBEL)* - - 150,000 150,000

* Long term interest free loan made by the Council to its controlled entity to meet startup and ongoing working capital needs.

Wreck Bay Aboriginal Community Council Annual Report 2008–2009 55 Wreck Bay Aboriginal Community Council ABN: 62 564 797 956 Notes to and forming part of the financial statements for the year ended 30th June 2009

Consolidated Council Note 2009 2008 2009 2008 $ $ $ $ Note 7: Non-Financial Assets Note 7A: Land and Buildings Freehold land - Community 403 Ha at valuation (fair value) * 8,000,000 8,000,000 8,000,000 8,000,000 Freehold land - Booderee National Park at valuation (fair value) * 28,596,500 26,970,000 28,596,500 26,970,000

Leasehold improvements at cost 231,979 212,109 - - Accumulated depreciation (21,720) (10,615) - - 210,259 201,494 - - Buildings on freehold land Buildings on freehold land (fair value) * 7,122,350 6,717,350 7,122,350 6,717,350

Total Land and Buildings 43,929,109 41,888,844 43,718,850 41,687,350

* Land, community buildings and houses have been revalued by Keith Gibson, valuer Currarong as at 30/06/09 on a fair value basis. Increments and decrements in revaluations have been adjusted against the asset revaluation reserve - see Note 8(D). Note 7B: Infrastructure, Plant & Equipment Computer equipment 138,940 137,575 34,705 34,705 Accumulated depreciation (120,158) (106,388) (27,007) (20,747) 18,782 31,187 7,698 13,958 Furniture & fittings 83,326 78,652 64,476 60,371 Accumulated depreciation (71,520) (67,899) (57,435) (54,928) 11,806 10,753 7,041 5,443 Plant & Equipment 580,365 478,783 107,919 103,758 Accumulated depreciation (199,320) (153,397) (87,860) (83,396) 381,045 325,386 20,060 20,362

Total Infrastructure, Plant & Equipment 411,633 367,326 34,800 39,763 Note 7C; Vehicles Leased Motor vehicles 166,587 166,587 - - Accumulated depreciation (33,316) (8,329) - - Total Vehicles 133,271 158,258 - -

Motor vehicles 275,301 273,024 113,624 113,624 Accumulated depreciation (83,927) (56,655) (42,209) (30,843) Total Vehicles 191,374 216,369 71,415 82,781

56 Wreck Bay Aboriginal Community Council Annual Report 2008–2009 - - - (3,506) 146,935 403,283 284,123 529,961 (17,167) TOTAL (153,939) (153,939) 2,185,439 43,034,080 45,195,348 44,665,387 42,630,797 ------2,277 56,655 27,272 83,927 273,024 275,301 191,374 216,369 Vehicles ------8,329 24,987 33,316 166,587 166,587 133,271 158,258 Leased Vehicles ------4,674 3,621 78,652 83,326 67,899 71,520 11,806 10,753 Furniture ------(3,506) 49,429 478,783 118,749 (17,167) 580,365 153,397 199,320 381,045 325,386 Plant & Equipment ------1,365 13,770 18,782 31,187 137,575 138,940 106,388 120,158 Computer Equipment - - - - - 19,870 10,615 21,720 165,044 (153,939) (153,939) 2,185,439 41,899,459 43,950,829 43,929,109 41,888,844 Total Land Total & Buildings ------19,870 10,615 11,105 21,720 212,109 231,979 210,259 201,494 Leasehold Improvm'nt ------558,939 153,939 Land (153,939) (153,939) 6,717,350 7,122,350 7,122,350 6,717,350 Buildings on Freehold ------Land 1,626,500 34,970,000 36,596,500 36,596,500 34,970,000 Note 7D: Analysis of Property (Land, Buildings & Infrastructure), Plant, Equipment and Vehicles TABLE A1 - Movement summary 2008-09 for all assets irrespective of valuation basis (Consolidated) A1 - Movement summary 2008-09 for all assets irrespective of valuation TABLE Item Gross Value at 1 July 2008 Gross Value Additions Revaluations: write-ups/ (write-downs) Assets transferred in / (out) Revaluation adjustment arising on adoption of fair value basis Disposals Gross value as at 30 June 2009 Accumulated Depreciation as at 1 July 2008 Disposals Depreciation charge for the year Revaluation adjustment arising on adoption of fair value basis Assets transferred in / (out) Write-offs Accumulated Depreciation as at 30 June 2009 Net book value as at 30 June 2009 Net book value as at 1 July 2008

Wreck Bay Aboriginal Community Council Annual Report 2008–2009 57 - - - 451,402 346,572 242,194 403,283 (61,715) (26,049) TOTAL (400,566) (159,434) (159,434) 43,204,393 43,034,080 42,630,797 42,857,821 ------46,022 59,291 23,413 56,655 288,717 (61,715) 273,024 (26,049) 216,369 229,426 Vehicles ------8,329 8,329 166,587 166,587 158,258 Leased Vehicles ------9,830 1,492 2,415 68,822 78,652 66,407 67,899 10,753 Furniture ------23,891 38,985 454,892 478,783 114,412 153,397 325,386 340,480 Plant & Equipment ------7,796 28,904 98,592 31,187 10,079 108,671 137,575 106,388 Computer Equipment - - - - - 7,870 10,615 176,168 162,179 (400,566) (159,434) (159,434) 42,283,291 41,899,459 41,888,844 42,275,421 Total Land Total & Buildings ------7,870 2,745 35,941 10,615 28,071 176,168 212,109 201,494 Leasehold Improvm'nt ------499,434 159,434 Land (159,434) (159,434) 6,377,350 6,717,350 6,717,350 6,377,350 Buildings on Freehold ------Land (900,000) 35,870,000 34,970,000 34,970,000 35,870,000 Item Gross Value at 1 July 2007 Gross Value Additions Revaluations: write-ups/ (write-downs) Assets transferred in / (out) Revaluation adjustment arising on adoption of fair value basis Disposals Gross value as at 30 June 2008 Accumulated Depreciation as at 1 July 2007 Disposals Depreciation charge for the year Revaluation adjustment arising on adoption of fair value basis Assets transferred in / (out) Write-offs Accumulated Depreciation as at 30 June 2008 Net book value as at 30 June 2008 Net book value as at 1 July 2007 Note 7D: Analysis of Property (Land, Buildings & Infrastructure), Plant, Equipment and Vehicles basis (Consolidated) A1 - Movement summary 2007-08 for all assets irrespective of valuation TABLE

58 Wreck Bay Aboriginal Community Council Annual Report 2008–2009 - - - - 8,267 189,914 178,536 214,511 TOTAL (153,939) (153,939) 2,185,439 41,999,808 44,039,575 43,825,064 41,809,894 ------30,843 11,366 42,209 71,415 82,781 113,624 113,624 Vehicles ------4,105 2,507 7,041 5,443 60,371 64,476 54,928 57,435 Furniture ------4,161 4,464 83,396 87,860 20,060 20,362 103,758 107,919 Plant & Equipment ------6,260 7,698 34,705 34,705 20,747 27,007 13,958 Computer Equipment ------153,939 (153,939) (153,939) 2,185,439 41,687,350 43,718,850 43,718,850 41,687,350 Total Land Total & Buildings ------558,939 153,939 (153,939) (153,939) 6,717,350 7,122,350 7,122,350 6,717,350 Buildings on Freehold Land ------Land 1,626,500 34,970,000 36,596,500 36,596,500 34,970,000 Note 7D: Analysis of Property (Land, Buildings & Infrastructure), Plant, Equipment and Vehicles basis (Council) A2 - Movement summary 2008-09 for all assets irrespective of valuation TABLE Item Gross Value at 1 July 2008 Gross Value Additions Revaluations: write-ups / (write-downs) Assets transferred in / (out) Revaluation adjustment arising on adoption of fair value basis Disposals Gross value as at 30 June 2009 Accumulated Depreciation as at 1 July 2008 Disposals Depreciation charge for the year Revaluation adjustment arising on adoption of fair value basis Assets transferred in / (out) Accumulated Depreciation as at 30 June 2009 Net book value as at 30 June 2009 Net book value as at 1 July 2008

Wreck Bay Aboriginal Community Council Annual Report 2008–2009 59 - - 36,177 199,393 176,004 189,914 (61,715) (26,049) (400,566) (159,434) (159,434) TOTAL 42,585,346 41,999,808 41,809,894 42,385,953 - - - - - 9,366 20,078 47,526 30,843 82,781 155,261 (61,715) 113,624 (26,049) 107,735 Vehicles ------4,445 1,000 5,443 1,998 55,926 60,371 53,928 54,928 Furniture ------2,262 81,134 83,396 20,362 22,624 103,758 103,758 Plant & Equipment ------3,942 6,246 23,051 11,654 34,705 16,805 20,747 13,958 Computer Equipment ------159,434 (400,566) (159,434) (159,434) 42,247,350 41,687,350 41,687,350 42,247,350 Buildings Total Land & Total ------499,434 159,434 (159,434) (159,434) 6,377,350 6,717,350 6,717,350 6,377,350 Buildings on Freehold Land Freehold ------Land (900,000) 35,870,000 34,970,000 34,970,000 35,870,000 Note 7D: Analysis of Property (Land, Buildings & Infrastructure), Plant, Equipment and Vehicles basis (Council) A2 - Movement summary 2007-08 for all assets irrespective of valuation TABLE Item Gross Value at 1 July 2007 Gross Value Additions Revaluations: write-ups / (write-downs) Assets transferred in / (out) Revaluation adjustment arising on adoption of fair value basis Disposals Gross value as at 30 June 2008 Accumulated Depreciation as at 1 July 2007 Disposals Depreciation charge for the year Revaluation adjustment arising on adoption of fair value basis Assets transferred in / (out) Accumulated Depreciation as at 30 June 2008 Net book value as at 30 June 2008 Net book value as at 1 July 2007

60 Wreck Bay Aboriginal Community Council Annual Report 2008–2009 Wreck Bay Aboriginal Community Council ABN: 62 564 797 956 Notes to and forming part of the financial statements for the year ended 30th June 2009

Consolidated Council Note 2009 2008 2009 2008 $ $ $ $

Note 8: Provisions

Note 8A: Employees Salaries 23,580 9,041 16,424 5,149 Leave 219,110 271,154 48,423 55,763 Superannuation 22,466 25,218 5,836 5,482 Payroll tax 28,433 28,433 - - Total employees provisions 293,589 333,846 70,683 66,394

Current 261,807 282,540 65,979 61,232 Non-current 31,782 51,306 4,703 5,162 293,589 333,846 70,683 66,394

Note 9: Payables

Note 9A: Suppliers Rent in advance (Park) 66,942 67,413 66,942 67,413 Grants in advance 1,267,711 1,255,000 1,267,711 1,255,000 Subsidiary (WBEL) - - 12,487 67,517 Trade Creditors - 10,547 - 9,120 Accrued Expenses 49,530 49,530 33,530 33,530 Other unearned income - - - - Total supplier payables 1,384,183 1,382,490 1,380,669 1,432,580

All supplier payables are current.

Wreck Bay Aboriginal Community Council Annual Report 2008–2009 61 Wreck Bay Aboriginal Community Council ABN: 62 564 797 956 Notes to and forming part of the financial statements for the year ended 30th June 2009

Consolidated Council Note 2009 2008 2009 2008 $ $ $ $ Note 10: Borrowings Obligations under finance leases and hire purchase contracts 257,953 246,740 - - Other Loan - Non-interest bearing - 5,946 - - Total loan liability 257,953 252,686 - -

Payable: Within one year: Minimum payments 84,144 71,836 - - Deduct: future finance charges (12,518) (14,389) - - 71,626 57,447 - -

In one to five years: Minimum payments 202,729 215,730 - - Deduct: future finance charges (16,402) (20,491) - - 186,327 195,239 - -

Finance leases recognised on the balance sheet 257,953 252,686 - -

A Hire Purchase was issued in April 2006 to the controlled entity Wreck Bay Enterprises Limited and is repayable in monthly instalments beginning April 2006 to April 2011.The interest rate implicit in the loan is 7.5%.

Another Hire Purchase was issued in June 2007 tothe controlled entity Wreck Bay Enterprises limited and is repayable in monthly instalments beginning June 2007 to June 2012.The interest rate implicit in the loan is 8.9%

The non-interest bearing loan was issued in October 2005 to the controlled entity Wreck Bay Enterprises Limited and is repayable in monthly instalments beginning October 2005 to October 2008.

Finance leases exist in relation to 5 motor vehicles. The leases are non-cancellable and for fixed terms being 4 years. The interest rate implicit in the leases averaged 9.7%. The leased assets secure the lease liabilities. There are no contingent rentals.

62 Wreck Bay Aboriginal Community Council Annual Report 2008–2009 Wreck Bay Aboriginal Community Council ABN: 62 564 797 956 Notes to and forming part of the financial statements for the year ended 30th June 2009

Consolidated Council Note 2009 2008 2009 2008 $ $ $ $ Note 11: Cash Flow Reconciliation

(a) Reconciliation of cash

Cash at the end of the financial year as shown in the Cash Flow Statement is reconciled to the related items in the Balance Sheet as follows:

Cash on hand 1,200 1,200 - - Operations bank account 159,989 1,292,278 303,856 1,385,999 Short Term Investment 1,346,967 323,000 1,346,967 323,000 1,508,156 1,616,478 1,650,823 1,708,999

(b) Reconciliation of operating surplus/(deficit) to net cash provided by operating activities:

Operating Surplus (Deficit) (219,607) 104,479 (104,384) 65,930 Depreciation of property, plant & equipment 284,123 242,194 178,536 176,004 Loss or (Gain) on disposal of plant & equipment (14,067) 13,666 - 13,666 Changes in assets and liabilities (Increase)/decrease in receivables 93,682 (229,616) (76,439) 5,610 Increase/(decrease) in payables (71,388) 68,225 (64,149) 60,986 Increase/(decrease) in tax liabilities (39,110) 7,663 - - Increase/(decrease) in staff and other provisions (40,256) 8,524 4,288 (1,479) Increase/(decrease) in prepaid income 12,239 1,066,096 12,239 1,066,096 (Decrease)/Increase in intercompany payables - - - (70,870)

Net cash provided by operating activities 5,616 1,281,231 (49,909) 1,315,943

Wreck Bay Aboriginal Community Council Annual Report 2008–2009 63 Wreck Bay Aboriginal Community Council ABN: 62 564 797 956 Notes to and forming part of the financial statements for the year ended 30th June 2009

Consolidated Council 2009 2008 2009 2008 $ $ $ $ Note 12: Directors Remuneration

The number of directors of the Council included in these figures are shown below in the relevant bands:

$ NIL – $ 14,999 10 5 10 6 $ 15,000 – $ 29,999 1 2 1 1 $ 30,000 – $ 44,999 - - - - $ 45,000 – $ 59,999 1 1 - - $ 60,000 – $ 74,999 1 1 - - Total number of directors of the Council 13 9 11 7

Total remuneration received or due and receivable by Directors of the Council 172,238 182,363 59,313 61,678

Note 13: Executive Remuneration

There were no officers who received or were due to receive total remuneration of $130,000 or more.

Note 14: Remuneration of Auditors

Remuneration to the Auditor-General for auditing the financial statements for the reporting period 36,648 39,158 20,893 20,289

No other services were provided by the Auditor-General during the reporting period.

64 Wreck Bay Aboriginal Community Council Annual Report 2008–2009 Wreck Bay Aboriginal Community Council ABN: 62 564 797 956 Notes to and forming part of the financial statements for the year ended 30th June 2009

Consolidated Council Note 2009 2008 2009 2008 Note 15: Financial Instruments $ $ $ $ 15A Categories of financial instruments Financial assets Held-to-maturity financial assets Investment in term deposit 1,346,967 323,000 1,346,967 323,000 1,346,967 323,000 1,346,967 323,000 Loans and receivables Cash at bank 159,989 1,292,278 303,856 1,385,999 Receivables for goods and services 164,661 266,123 43,183 35,368 Interest receivable 82,272 13,649 82,272 13,649 Income tax refundable 13,053 - - - Investment in subsidiary - - 342,522 342,522 Loan to subsidiary - - 150,000 150,000 419,975 1,572,049 921,834 1,927,538 Carrying amount of financial assets 1,766,942 1,895,049 2,268,801 2,250,538 Financial liabilities Other financial liabilities Trade creditors - 60,077 - 42,650 Accrued expenses 49,530 49,530 33,530 33,530 Borrowings 257,953 252,686 - - Rent in Advance (PARK) 66,942 67,413 66,942 67,413 Grants in Advance 1,267,711 1,255,000 1,267,711 1,255,000 Subsidiary (WBEL) - - 12,487 67,517 Carrying amount of financial liabilities 1,642,135 1,635,176 1,380,669 1,432,580 15B Net income and expense from financial assets Held-to-maturity financial assets Interest revenue 92,590 13,649 92,590 13,649 Net gain/(loss) loans and receivables 92,590 13,649 92,590 13,649 Loans and receivables Interest revenue 18,547 19,180 15,361 10,475 Net gain/(loss) loans and receivables 18,547 19,180 15,361 10,475

Net gain/(loss) from financial assets 111,137 32,829 107,951 24,124 15C Net income and expense from financial liabilities Financial liabilities - at amortised cost Interest Expense 20,973 10,952 - - Net gain/(loss) financial liabilities - amortised cost 20,973 10,952 - - Net gain/(loss) from financial liabilities 20,973 10,952 - -

Wreck Bay Aboriginal Community Council Annual Report 2008–2009 65 Wreck Bay Aboriginal Community Council ABN: 62 564 797 956 Notes to and forming part of the financial statements for the year ended 30th June 2009 15D Fair value of financial instruments

Consolidated Carrying Fair Value Carrying amount Fair Value FINANCIAL LIABILITIES amount 2009 2009 2008 2008 Other liabilities Borrowings 257,953 257,953 252,686 252,686 Total 257,953 257,953 252,686 252,686

Council Carrying Fair Value Carrying amount Fair Value FINANCIAL LIABILITIES amount 2009 2009 2008 2008 Other liabilities Borrowings - - - - Total - - - -

15E Credit Risk The maximum exposure to credit risk is the risk that arises from potential default of a debtor. This amount is equal to the total amount for trade receivables ( Council 2009: $65,628 and 2008: $57,813; Subsidiary 2009: $147,018 and 2008: $304,085). Wreck Bay Aboriginal Community Council has assessed the risk of the default on payment and has allocated $22,445 in 2009 (2008: $22,445) to an allowance for doubtful debts account. The Council manages its credit risk by undertaking background and credit checks prior to allowing a debtor relationship. In addition, it has policies and procedures that guide employees debt recovery techniques that are to be applied. Wreck Bay Aboriginal Community Council has no collateral to mitigate against credit risk. Credit risk of financial instruments not past due or individually determined as impaired:

Consolidated Not Past Due Not Past Due Nor Impaired Nor Impaired Past Due or Past Due or 2009 2008 Impaired 2009 Impaired 2008 $ $ $ $ Receivables for goods and services 142,316 248,051 44,789 40,517 Total 142,317 248,052 44,789 40,517

Council Not Past Due Not Past Due Nor Impaired Nor Impaired Past Due or Past Due or 2009 2008 Impaired 2009 Impaired 2008 $ $ $ $ Receivables for goods and services 43,183 30,343 22,445 27,470 Total 43,182 30,342 22,445 27,470

66 Wreck Bay Aboriginal Community Council Annual Report 2008–2009 Wreck Bay Aboriginal Community Council ABN: 62 564 797 956 Notes to and forming part of the financial statements for the year ended 30th June 2009

Ageing of financial assets that are past due but not impaired for 2009

Consolidated 1 to 30 days 31 to 60 days 61 to 90 days 90+ days Total $ $ $ $ $ Receivables for goods and services 1,079 564 373 20,329 22,344 Total 1,079 564 373 20,329 22,344

Council 1 to 30 days 31 to 60 days 61 to 90 days 90+ days Total $ $ $ $ $ Receivables for goods and services - - - - - Total - - - - -

Ageing of financial assets that are past due but not impaired for 2008

Consolidated 1 to 30 days 31 to 60 days 61 to 90 days 90+ days Total $ $ $ $ $ Receivables for goods and services - 6,310 7,277 4,485 18,072 Total - 6,310 7,277 4,485 18,072

Council 1 to 30 days 31 to 60 days 61 to 90 days 90+ days Total $ $ $ $ $ Receivables for goods and services - - - 5,025 5,025 Total - - - 5,025 5,025

Consolidated & Council Loans and receivables for goods and services amounting to $22,445 (2007: $22,445) have been individually assessed at 30th June 2009 as impaired.

Wreck Bay Aboriginal Community Council Annual Report 2008–2009 67 Wreck Bay Aboriginal Community Council ABN: 62 564 797 956 Notes to and forming part of the financial statements for the year ended 30th June 2009 15F Liquidity Risk

Wreck Bay Aboriginal Community Council's financial liabilities are payables, finance leases and other interest and non-interest bearing liabilities. The exposure to liquidity risk is based on the notion that the Council will encounter difficulty in meeting its obligations associated with financial liabilities. This is highly unlikely due to Government funding and internal policies and procedures put in place to ensure there are appropriate resources to meet its financial liabilities. The following table illustrates the maturities for financial liabilities:

Consolidated On Demand Wtihin 1 Year 1 to 5 Years > 5 Years Total 2009 2009 2009 2009 2009 $ $ $ $ $ Trade creditors - - - - - Accrued expenses - 49,530 - - 49,530 Borrowings - 71,626 186,327 - 257,953 Rent in Advance (PARK) - 66,942 - - 66,942 Grants in Advance - 1,267,711 - - 1,267,711 Total - 1,455,809 186,327 - 1,642,136

On Demand Wtihin 1 Year 1 to 5 Years > 5 Years Total 2008 2008 2008 2008 2008 $ $ $ $ $ Trade creditors - 10,547 - - 10,547 Accrued Expenses - 49,530 - - 49,530 Borrowings - 57,447 195,239 - 252,686 Rent in Advance (PARK) - 67,413 - - 67,413 Grants in Advance - 1,255,000 - - 1,255,000 Total - 1,439,937 195,239 - 1,635,176

68 Wreck Bay Aboriginal Community Council Annual Report 2008–2009 Wreck Bay Aboriginal Community Council ABN: 62 564 797 956 Notes to and forming part of the financial statements for the year ended 30th June 2009

Council On Demand Wtihin 1 Year 1 to 5 Years > 5 Years Total 2009 2009 2009 2009 2009 $ $ $ $ $ Trade creditors - - - - - Accrued expenses - 33,530 - - 33,530 Subsidiary (WBEL) - 12,487 - - 12,487 Rent in Advance (PARK) - 66,942 - - 66,942 Grants in Advance - 1,267,711 - - 1,267,711 Total - 1,380,670 - - 1,380,670

On Demand Wtihin 1 Year 1 to 5 Years > 5 Years Total 2008 2008 2008 2008 2008 $ $ $ $ $ Trade creditors - 9,120 - - 9,120 Accrued expenses - 33,530 - - 33,530 Subsidiary (WBEL) - 67,517 - - 67,517 Rent in Advance (PARK) - 67,413 - - 67,413 Grants in Advance - 1,255,000 - - 1,255,000 Total - 1,432,580 - - 1,432,580

Wreck Bay Aboriginal Community Council is funded by the Australian Government. The Council manages its budgeted funds to ensure it has adequate funds to meet payments as they fall due. In addition, Council has policies in place to ensure timely payment are made when due and has no past experience of default.

15G Market Risk Wreck Bay Aboriginal Community Council Limited holds basic financial instruments that do not expose the entity to certain market risks. Wreck Bay Aboriginal Community Council is not exposed to ‘currency risk’ or ‘other price risk’.

Interest Rate Risk

Financial Assets: The Council maintains operating and interest bearing bank accounts to manage cash. The operating and interest bearing bank accounts bear interest at rates from 0.01% to 8.25% (2008: 1% to 7.4%).

Other Liabilities: The finance leases and interest bearing liabilities have fixed interest rates and thus do not expose the company to changes in market interest rates. The interest rates vary between 7.5% to 9.7% (2008:7.5-9.7%).

Wreck Bay Aboriginal Community Council Annual Report 2008–2009 69 Aboriginal Community Council

70 Wreck Bay Aboriginal Community Council Annual Report 2008–2009 WBEL Financial Statements

Item Directors’ Report 73 Independent Auditor’s Report 74 Directors Declaration 77 Income Statement 78 Balance Sheet 79 Statement of Changes in Equity 80 Cash Flow Statement 81 Notes to Financial Statements 82 Company Details: 98

Wreck Bay Aboriginal Community Council Annual Report 2008–2009 71 72 Wreck Bay Aboriginal Community Council Annual Report 2008–2009 Directors’ Report Your directors are please to present the financial statements of the Wreck Bay Aboriginal Community Council’s (WBACC) wholly owned subsidiary – Wreck Bay Enterprises Limited (WBEL), as at 30th June 2009. This is the ninth annual report for the company and details the eighth full year of trading of the company.

The Year’s Results The Company made a net loss of $115,223 during the year after deductions of non-cash items consisting of depreciation on assets and staff entitlements at 30 June 2009. Sales for the year were $2,143,887. Also during the year WBEL paid $1,407,907 in staff costs. This is an important input in the form of salaries into the Wreck Bay Community. After many years in a demountable building all staff now thoroughly enjoy the new office facility which was completed in April 2008. This will allow the Company to have a solid base of operations and service delivery as well as provide a capacity to manage its assets, service its machinery, store materials and so on. The new premises will ensure an improved efficiency in the operation of WBEL. These results would not have been achieved if WBEL had not been so well supported by its customers: Booderee National Park, Serco Sodexho, and of course, the Council itself, and also this year we would like to express our thanks to all those entities who have given WBEL the opportunity to participate in their operations. It is important to mention that during the year the Company has operated without any Government grant or subsidy of any kind. This outcome is in keeping with the Community’s Vision Statement and Goals to be financially independent of Government grants and self-sustaining in the medium term.

The Future WBEL will continue to strive for profitability over the next financial year as the Company aims at a net profit of 5% on Gross Revenue, at the same time maintaining its training and employment program for all levels of staff. The Company’s active participation in the work of managing the Park has been actively supported not only by the Director of Parks Australia, but also by the Park Joint Board and staff, and we would like to take this opportunity to thanks all these stakeholders for their support.

Wreck Bay Aboriginal Community Council Annual Report 2008–2009 73 74 Wreck Bay Aboriginal Community Council Annual Report 2008–2009 Wreck Bay Aboriginal Community Council Annual Report 2008–2009 75 76 Wreck Bay Aboriginal Community Council Annual Report 2008–2009 Wreck Bay Aboriginal Community Council Annual Report 2008–2009 77 Wreck Bay Enterprises Limited ABN: 42 093 444 869 Income Statement for the year ended 30th June 2009

Note 2009 2008 $ $ Revenue from ordinary activities 2 2,129,820 2,424,518 Other income 2 14,067 - 2,143,887 2,424,518

Expenses Materials 492,866 597,021 Employee benefits expense 1,407,907 1,462,530 Depreciation and amortisation expense 3(a) 105,587 66,190 Accommodation expenses 11,251 25,479 Finance Costs 20,973 10,952 Other expenses from ordinary activities 230,789 197,975

Total expenses from ordinary activities 2,269,373 2,360,147

Profit/(loss) from ordinary activities before income tax (125,486) 64,371

Income tax (expense)/benefit relating to ordinary activities 4 10,263 (25,822)

Profit/(loss) from ordinary activities after income tax expense attributable to members of parent entity (115,223) 38,549

Net increase in asset revaluation reserve - -

Total changes in equity other than those resulting from transactions with owners as owners (115,223) 38,549

The accompanying notes form part of these financial statements.

78 Wreck Bay Aboriginal Community Council Annual Report 2008–2009 Wreck Bay Enterprises Limited ABN: 42 093 444 869 Balance Sheet As at 30th June 2009

Note 2009 2008 $ $ Current assets Cash and cash equivalents 5 1,200 3,212 Trade and other receivables 6 147,018 304,085

Total current assets 148,218 307,297

Non-current assets Property, vehicles, plant and equipment 7 840,324 820,904

Total non-current assets 840,324 820,904

Total assets 988,542 1,128,201

Current liabilities Operations bank account 8 143,868 95,733 Trade and other payables 9 16,000 23,239 Employee benefits 10 195,830 221,310 Short term borrowings 11 71,626 57,447 Current tax liabilities - 26,054

Total current liabilities 427,324 423,783

Non-current liabilities Long term borrowings 11 336,327 345,239 Employees benefits 10 27,079 46,144 Deferred tax liability 4 20,355 20,355

Total non-current liabilities 383,761 411,738

Total liabilities 811,085 835,521

Net assets 177,457 292,680

Equity Capital 13 342,522 342,522 Asset revaluation reserve 47,495 47,495 Accumulated deficit (212,560) (97,337)

Total equity 177,457 292,680

The accompanying notes form part of these financial statements.

Wreck Bay Aboriginal Community Council Annual Report 2008–2009 79 Wreck Bay Enterprises Limited ABN: 42 093 444 869 Statement of Changes in Equity As at 30th June 2009

Asset Contributed Retained Revaluation Equity/ Earnings Reserve Capital Total

Opening Balance at 1 July 2007 (135,886) 47,495 342,522 254,131

Income & Expenses recognised directly in Equity - - - -

Surplus (Deficit) for the period 38,549 - - 38,549

Closing Balance at 30 June 2008 (97,337) 47,495 342,522 292,680

Opening Balance at 1 July 2008 (97,337) 47,495 342,522 292,680

Income & Expenses recognised directly in Equity - - - -

Surplus (Deficit) for the period (115,223) - - (115,223)

Closing Balance at 30 June 2009 (212,560) 47,495 342,522 177,457

The accompanying notes form part of these financial statements.

80 Wreck Bay Aboriginal Community Council Annual Report 2008–2009 Wreck Bay Enterprises Limited ABN: 42 093 444 869 Cash Flow Statement for the year ended 30th June 2009

Note 2009 2008 $ $ CASH FLOWS FROM OPERATING ACTIVITIES

Receipts from customers 2,294,560 2,291,999 Payments to suppliers and employees (2,192,401) (2,306,304) Interest Received 3,186 8,705 Finance Costs (20,973) (10,952) Income Tax Paid (28,847) (18,159) Net cash provided by/(used in) operating activities 18(b) 55,525 (34,711)

CASH FLOWS FROM INVESTING ACTIVITIES

Purchase of plant & equipment 7(a) (138,668) (415,226)

Proceeds on disposal of Plant & Equipment 27,727 -

Net cash (used in) investing activities (110,941) (415,226)

CASH FLOWS FROM FINANCING ACTIVITIES

Proceeds from borrowings 73,250 166,587

Repayment of borrowings (67,981) (51,446)

Net cash provided by/(used in) financing activities 5,269 115,141

Net increase/(decrease) in cash held (50,147) (334,796)

Cash at the beginning of the year (92,521) 242,275

Cash at the end of the year 18(a) (142,668) (92,521)

The accompanying notes form part of these financial statements.

Wreck Bay Aboriginal Community Council Annual Report 2008–2009 81 Wreck Bay Enterprises Limited ABN: 42 093 444 869 Notes to Financial Statements for the year ended 30th June 2009

Note 1: Statement of Significant Accounting Policies The financial report is a general purpose financial report that has been prepared in accordance with the Corporations Act 2001, Accounting Standards, including Australian Accounting Interpretations and other authoritative pronouncements of the Australian Accounting Standards Board (AASB). The financial report is for the entity Wreck Bay Enterprises Limited as an individual entity. Wreck Bay Enterprises Limited is a company limited by guarantee, incorporated on the 27th June 2000 and domiciled in Australia. Basis of Preparation Australian Accounting Standards set out accounting policies that the AASB has concluded that would result in a financial report containing relevant and reliable information about transactions, events and conditions to which they apply. Material accounting policies adopted in preparation of this financial report are presented below. They have been consistently applied unless otherwise stated. The financial report has been prepared on an accrual basis and is based on historical costs and does not take into account charging money values, or except where stated, current valuations of non-current assets. Cost is based on fair values of the consideration given in exchange for assets. Taxes Income Tax: The charge for current income tax expense is based on the profit for the year adjusted for any non-assessable or disallowed items. It is calculated using tax rates that have been enacted or are substantially enacted by the balance sheet date. Deferred tax is accounted for using the balance sheet liability method in respect of temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements. No deferred income tax will be recognised from the initial recognition of an asset or liability where there is no effect on accounting or taxable profit or loss. Deferred tax is calculated at the tax rates that are expected to apply to the period when the asset is realised or liability is settled. Deferred tax is credited in the income statement except where it relates to items that may be credited directly to equity, in which case the deferred tax is adjusted directly against equity. Deferred income tax assets are recognised to the extent that it is probable that future tax profits will be available against which deductible temporary differences can be utilised.

82 Wreck Bay Aboriginal Community Council Annual Report 2008–2009 Wreck Bay Enterprises Limited ABN: 42 093 444 869 Notes to Financial Statements for the year ended 30th June 2009

The amount of benefits brought to account or which may be realised in the future is based on the assumption that no adverse change will occur in income taxation legislation and the anticipation that the company will derive sufficient future assessable income to enable the benefit to be realised and comply with the conditions of deductibility imposed by the law.

GST: Revenues, expenses and assets are recognised net of the amount of GST, except where the amount incurred is not recoverable from the Australian Tax Office. In these circumstances the GST is recognised as part of the cost of the acquisition of the asset or as part of an item of the expense. Receivables and payables in the Balance Sheet are shown inclusive of GST. Property, Plant and Equipment Each class of property, plant and equipment is carried at fair value less, where applicable, any accumulated depreciation and impairment losses. Plant and equipment Leasehold improvements, plant and equipment are measured on the fair value basis. Fair values for each class of asset are determined as shown below:

Asset Class Fair Value measured at: Leasehold Improvements Depreciated Replacement Cost Office & Computer Equipment Depreciated Replacement Cost Furniture & Fittings Depreciated Replacement Cost Plant & Equipment Market Selling Price Motor Vehicle Market Selling Price

Depreciation The depreciable amount of all fixed assets is depreciated on a straight line basis over the useful lives to the company commencing from the time the asset is held ready for use. The depreciation rates used for each class of depreciable asset are: Class of Fixed Asset Depreciation Rate Leasehold improvements 2.5 – 5% Computers and Office Equipment 33.30% Furniture and fittings 20% Motor Vehicles 10% Plant and Equipment 10%

The asset's residual values and useful lives are reviewed, and adjusted if appropriate, at each balance sheet date.

Wreck Bay Aboriginal Community Council Annual Report 2008–2009 83 Wreck Bay Enterprises Limited ABN: 42 093 444 869 Notes to Financial Statements for the year ended 30th June 2009

An asset's carrying amount is written down immediately to its recoverable amount if the asset's carrying amount is greater than it's estimated recoverable amount. Gain and losses on disposals are determined by comparing proceeds with the carrying amount. These gains or losses are included in the income statement. Capitalisation Thresholds Property, plant and equipment assets costing $300 (or the amount determined by the company) and above individually (or forming part of a network costing more than $300) are capitalised. Impairment of Assets At each reporting date, the company reviews the carrying values of its tangible assets to determine whether there is any indication that those assets have been impaired. If such and the indication exists, the recoverable amount of the asset, being the higher of the asset's fair value less costs to sell and value in use, is compared to the asset's carrying value. Any excess of the asset's recoverable amount is expensed to the Income Statement. Where the future economic benefits of the asset are not primarily dependent upon the asset's ability to generate net cash inflows and when the company would, if deprived of the asset, replace its remaining future economic benefits, value in use is the depreciated replacement cost of an asset. Leases Leases of fixed assets where substantially all the risks and benefits incidental to the ownership of the asset, but not the legal ownership are transferred to the company are classified as finance leases. Lease payments for operating leases, where substantially all the risks and benefits remain with the lessor, are charged as expenses on a straight-line basis over the lease term. Employee Benefits Provision is made for the company’s liability for employee benefits arising from services rendered by employees to balance date. Employee benefits expected to be settled within one year together with benefits arising from wages and salaries, and annual leave which will be settled after one year have been measured at the amounts expected to be paid when the liability is settled. Other employee benefits payable later than one year have been measured at the net present value. Contributions are made by the company to an employee superannuation fund and are charged as expenses when incurred.

84 Wreck Bay Aboriginal Community Council Annual Report 2008–2009 Wreck Bay Enterprises Limited ABN: 42 093 444 869 Notes to Financial Statements for the year ended 30th June 2009

Cash and cash equivalents Cash and cash equivalents in the balance sheet comprise cash on hand and in at call deposits with banks or financial institutions, investments in money markets instruments maturing within less than three months. For the purpose of the Cash Flow Statement, cash and cash equivalents consist of cash and cash equivalents as defined above, net of outstanding bank overdrafts. Bank overdrafts are included in current liabilities on the balance sheet. Revenue Revenue from the sale of goods is recognised upon the delivery of goods to customers. Interest revenue is recognised on a proportional basis taking into account the interest rates applicable to the financial assets. Revenue from the rendering of a service is recognised upon the delivery of the service to the customers. All revenue is stated net of the amount of goods and services tax (GST). Financial assets The company classifies its financial assets as 'loans and receivables''. The classification depends on the nature and purpose of the financial assets and is determined at the time of initial recognition. Financial assets are recognised and derecognised upon ‘trade date’.

Effective interest method The effective interest method is a method of calculating the amortised cost of a financial asset and of allocating interest income over the relevant period. The effective interest rate is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset, or, where appropriate, a shorter period. Income is recognised on an effective interest rate basis.

Loans and receivables Trade receivables, loans and other receivables that have fixed or determinable payments that are not quoted in an active market are classified as ‘loans and receivables’. They are included in current assets, except for maturities greater than 12 months after the balance sheet date. These are classified as non current assets. Loans and receivables are measured at amortised cost using the effective interest method less impairment. Interest is recognised by applying the effective interest rate.

Wreck Bay Aboriginal Community Council Annual Report 2008–2009 85 Wreck Bay Enterprises Limited ABN: 42 093 444 869 Notes to Financial Statements for the year ended 30th June 2009

Impairment of financial assets Financial assets are assessed for impairment at each balance date. Financial assets held at amortised cost - If there is objective evidence that an impairment loss has been incurred for loans and receivables held at amortised cost, the amount of the loss is measured as the difference between the asset’s carrying amount and the present value of estimated future cash flows discounted at the asset’s original effective interest rate. The carrying amount is reduced by way of an allowance account. The loss is recognised in the Income Statement. Financial Liabilities Financial liabilities are classified as either financial liabilities ‘at fair value through profit or loss’ or other financial liabilities. Financial liabilities are recognised and derecognised upon ‘trade date’.

Financial liabilities at fair value through profit or loss Financial liabilities at fair value through profit or loss are initially measured at fair value. Subsequent fair value adjustments are recognised in profit or loss. The net gain or loss recognised in profit or loss incorporates any interest paid on the financial liability.

Other financial liabilities Other financial liabilities, including borrowings, are initially measured at fair value, net of transaction costs. Other financial liabilities are subsequently measured at amortised cost using the effective interest method, with interest expense recognised on an effective yield basis. The effective interest method is a method of calculating the amortised cost of a financial liability and of allocating interest expense over the relevant period. The effective interest rate is the rate that exactly discounts estimated future cash payments through the expected life of the financial liability, or, where appropriate, a shorter period.

Supplier and other payables Supplier and other payables are recognised at amortised cost. Liabilities are recognised to the extent that the goods or services have been received (and irrespective of having been invoiced). Comparative Figures When required by Accounting Standards, comparative figures have been adjusted to conform to changes in presentation for the current financial year.

86 Wreck Bay Aboriginal Community Council Annual Report 2008–2009 Wreck Bay Enterprises Limited ABN: 42 093 444 869 Notes to Financial Statements for the year ended 30th June 2009

Significant Accounting Estimates and Judgements The directors evaluate estimates and judgments incorporated into the financial report based on historical knowledge and best available current information. Estimates assume a reasonable expectation of a future event occurring and are based on current trends and economic data, obtained both externally and within the company. New Accounting Standards for Application in Future Periods Adoption of new Australian Accounting Standards requirements No accounting standard has been adopted earlier than the application date as stated in the standard. No new accounting standard, amendments to standards and interpretations issued by the Australian Accounting Standards Board that are applicable in the current period are assessed to have a material financial effect on the company.

Wreck Bay Aboriginal Community Council Annual Report 2008–2009 87 Wreck Bay Enterprises Limited ABN: 42 093 444 869 Notes to Financial Statements for the year ended 30th June 2009

2009 2008 $ $ Note 2: Revenue and other income Operating activities - Sale of services 2,126,634 2,415,813 - Interest Income 3,186 8,705 Total revenue from ordinary activities 2,129,820 2,424,518 Other Income - Gain on disposal of asset 14,067 - Total Revenue 2,143,887 2,424,518 Note 3: Profit from ordinary activities Profit from ordinary activities has been determined after: (a) Expenses: Depreciation of property, plant and equipment 105,587 66,190 Remuneration of auditor - audit 15,755 18,869 121,342 85,059 Note 4: Income Tax a) Income tax expense Profit/(loss) from ordinary activites (125,486) 64,372 before income tax Prima facie income tax expense/(benefit) calculated at 30% (2008 30%) (37,646) 19,311 Tax effect of temporary differences 7,918 13,585 Adjustment for (over)/under provision in prior years (10,263) (7,074) Unrecognised tax losses not brought to account 29,728 - Income tax expense (10,263) 25,822

b) Deferred tax asset and liability (i) Deferred tax liability Revaluation adjustment on non-current assets taken directly to equity 20,355 20,355 (ii) Deferred tax assets Deferred tax assets not brought to account the benefits of which will only be realised if the conditions for deductibilty set out in Note 1 occur: Tax losses carried forward - - Temporary differences 60,995 75,338 60,995 75,338

88 Wreck Bay Aboriginal Community Council Annual Report 2008–2009 Wreck Bay Enterprises Limited ABN: 42 093 444 869 Notes to Financial Statements for the year ended 30th June 2009 Note 2009 2008 $ $ Note 5: Cash & Cash Equivalents Cash at Bank - 2,012 Cash On Hand & Floats 1,200 1,200 1,200 3,212 Note 6: Trade & Other Receivables

Trade and other receivables 121,478 236,568 Income Tax Refund 13,053 - Amounts receivable from parent entity for contract work 12,487 67,517 147,018 304,085 Note 7: Property, Plant and Equipment Buildings & leasehold improvements 231,979 212,109 Less: accumulated depreciation (21,720) (10,615) 210,259 201,494

Office & Computer Equipment 104,235 102,870 Less: Acumulated Depreciation (93,151) (85,641) 11,084 17,229

Furniture & Fittings 18,849 18,281 Less: Accumulated Depreciation (14,085) (12,971) 4,764 5,310

Plant & Equipment 472,447 375,026 Less: Accumulated Depreciation (111,461) (70,001) 360,986 305,025

Leased Vehicles 166,587 166,587 Less: Accumulated Depreciation (33,316) (8,329) 133,271 158,258

Vehicles 161,677 159,400 Less: Accumulated Depreciation (41,717) (25,812) 119,960 133,588

Total Property, Plant and Equipment 840,324 820,904

Wreck Bay Aboriginal Community Council Annual Report 2008–2009 89 Wreck Bay Enterprises Limited ABN: 42 093 444 869 Notes to Financial Statements for the year ended 30th June 2009

Note 7(a) Movements in Carrying Amounts 2009 Movement in the carrying amounts for each class of property, plant and equipment between the beginning and the end of the current financial period Office Equipment Leasehold & Furniture & Plant & Leased Building Computers Fittings Equipment Vehicles Vehicles Improvements Total Balance at the beginning

of the year 102,870 18,281 375,026 166,587 159,400 212,109 1,034,273 Transfers In/(Out) from parent entity ------Additions 1,365 568 114,588 - 2,277 19,870 138,668 Disposals - - (17,167) - - - (17,167) Revaluation increments ------Revaluation adjustment ------Balance at the end of the year 104,235 18,849 472,447 166,587 161,677 231,979 1,155,774 Balance of accumulated depreciation at the beginning of the year (85,641) (12,971) (70,001) (8,329) (25,812) (10,615) (213,369) Transfers In/(Out) from parent entity ------Disposals - - 3,506 - - - 3,506 Depreciation expense (7,510) (1,114) (44,966) (24,987) (15,905) (11,105) (105,587) Revaluation adjustment ------Balance of accumulated depreciation at the end of the year (93,151) (14,085) (111,461) (33,316) (41,717) (21,720) (315,450) Carrying amount at the end of the year 11,084 4,764 360,986 133,271 119,960 210,259 840,324

90 Wreck Bay Aboriginal Community Council Annual Report 2008–2009 Wreck Bay Enterprises Limited ABN: 42 093 444 869 Notes to Financial Statements for the year ended 30th June 2009

Note 7(b) Movements in Carrying Amounts 2008 Movement in the carrying amounts for each class of property, plant and equipment between the beginning and the end of the current financial period Office Equipment Leasehold & Furniture & Plant & Leased Building Computers Fittings Equipment Vehicles Vehicles Improvements Total

Balance at the beginning of the year 85,620 12,896 351,134 - 133,456 35,941 619,047

Transfers In/(Out) from parent entity ------Additions 17,250 5,385 23,892 166,587 25,944 176,168 415,226 Disposals ------Revaluation increments ------Revaluation adjustment ------

Balance at the end of the year 102,870 18,281 375,026 166,587 159,400 212,109 1,034,273 Balance of accumulated depreciation at the beginning of the year (81,787) (12,479) (33,278) - (11,765) (7,870) (147,179)

Transfers In/(Out) from parent entity ------Disposals ------Depreciation expense (3,854) (492) (36,723) (8,329) (14,047) (2,745) (66,190) Revaluation adjustment ------Balance of accumulated depreciation at the end of the year (85,641) (12,971) (70,001) (8,329) (25,812) (10,615) (213,369)

Carrying amount at the end of the year 17,229 5,310 305,025 158,258 133,588 201,494 820,904

Wreck Bay Aboriginal Community Council Annual Report 2008–2009 91 Wreck Bay Enterprises Limited ABN: 42 093 444 869 Notes to Financial Statements for the year ended 30th June 2009

2009 2008 $ $

Note 8: Operations Bank Account Operations bank account 143,868 95,733 143,868 95,733 Note 9: Trade and Other Payables Trade payables - 7,239 Accrued expenses 16,000 16,000 16,000 23,239 Note 10: Employee Benefits Aggregate employee benefit provision 222,909 267,454

Current 195,830 221,310 Non-current 27,079 46,144 222,909 267,454 Aggregate employee benefits represent liabilities for annual and long service leave including any accrued wages and superannuation. Note 11: Borrowings Current: Obligations under finance leases and hire purchase contracts 71,626 51,501 Other loan unsecured - 5,946 71,626 57,447 Non Current: Interest free loan from parent entity to provide startup working capital 150,000 150,000 Obligations under finance leases and hire purchase contracts 186,327 195,239 336,327 345,239 Obligations under finance leases and hire purchase contracts are payable as follows: Within one year: Minimum payments 84,144 65,890 Deduct: future finance charges (12,518) (14,389) 71,626 51,501 In one to five years: Minimum payments 202,729 215,730 Deduct: future finance charges (16,402) (20,491) 186,327 195,239

Finance leases recognised on the balance sheet 257,953 246,740

92 Wreck Bay Aboriginal Community Council Annual Report 2008–2009 Wreck Bay Enterprises Limited ABN: 42 093 444 869 Notes to Financial Statements for the year ended 30th June 2009

2009 2008 $ $ Note 11: Borrowings Cont'd The bank loan is secured by a hire purchase contract registered over specific items of plant and equipment, and a fixed and floating charge over the assets and undertakings of the company. The parent entity, Wreck Bay Aboriginal Community Council has also provided a guarantee and indemnity to the bank limited to $180,000. The Hire Purchase is for a New Holland Front End Loader and Slasher and is for 5 years. The Hire Purchase is secured by the assets financed. The interest rate is 9.6%. Finance leases exist in relation to 5 motor vehicles. The leases are non- cancellable and for fixed terms being 4 years. The interest rate implicit in the leases averaged 9.7%. The leased assets secure the lease liabilities. There are no contingent rentals. Note 12: Member's Guarantee Wreck Bay Enterprises Limited is limited by guarantee. If wound up, the Constitution states that the only member, Wreck Bay Aboriginal Community Council, contribute $1 towards meeting any outstanding obligations of the company. Note 13: Contributed Equity Members Funds 1 1 Members equity contributed in the form of cash, vehicles, plant & equipment 342,521 342,521 342,522 342,522 Note 14: Capital and Leasing Commitments The Company has no committed capital expenditure or non cancellable leasehold commitments at 30th June 2009, other than those described at Note 11. Note 15: Contingencies The Company has no contingent liabilities at 30th June 2009, except for the bank loan security described in Note 11. Note 16: Payment to auditor Payments made to ANAO for audit 15,755 18,869 No work other than the audit has been undertaken by the auditor during the financial year.

Note 17: Related Party Transactions The Company provides a variety of services to the parent entity at commercial rates. It has had no dealings with other entities related to the Directors. No Director has received any payment or benefit by virtue of their position as Directors.

Wreck Bay Aboriginal Community Council Annual Report 2008–2009 93 Wreck Bay Enterprises Limited ABN: 42 093 444 869 Notes to Financial Statements for the year ended 30th June 2009

2009 2008 $ $ Note 18: Cash Flow Information

(a) Reconciliation of cash

Cash at the end of the financial year as shown in the Cash Flow Statement is reconciled to the related items in the Balance Sheet as follows:

Cash on hand 1,200 1,200 Operations bank account (143,868) (93,721) (142,668) (92,521)

(b) Reconciliation of Cash Flow from operations with profit/(loss) from ordinary activities.

Profit/(Loss) from ordinary activities (115,223) 38,549 Loss or (Gain) on Sale of Asset (14,067) - Non cash flows in profit from ordinary activities: Depreciation 105,587 66,190 Changes in assets and liabilities: Decrease/(Increase) in receivables 170,121 (235,225) (Decrease)/Increase in tax liabilities (39,110) 7,663 (Decrease)/Increase in staff & other provisions (44,544) 10,003 (Decrease)/Increase in other liabilities (7,239) 7,239 Decrease/(Increase) in intercompany receivables - 70,870

Cash flow from/(used in) operations 55,525 (34,711)

94 Wreck Bay Aboriginal Community Council Annual Report 2008–2009 Wreck Bay Enterprises Limited ABN: 42 093 444 869 Notes to Financial Statements for the year ended 30th June 2009

2009 2008 Note 19: Financial Instruments $ $

19A Categories of financial instruments

Financial assets Loans and receivables Cash at bank - 2,012 Receivables for goods and services 147,018 304,085 Carrying amount of financial assets 147,018 306,097

Financial liabilities Other financial liabilities Operations bank account 143,868 95,733 Trade creditors - 7,239 Accrued expenses 16,000 16,000 Borrowings 407,953 402,686 Carrying amount of financial liabilities 567,821 521,657

19B Net income and expense from financial assets

Loans and receivables Interest revenue (see note 2) 3,186 8,705 Net gain/(loss) loans and receivables 3,186 8,705 Net gain/(loss) from financial assets 3,186 8,705

19C Net income and expense from financial liabilities

Financial liabilities — at amortised cost Interest Expense 20,973 10,952 Net gain/(loss) financial liabilities - amortised cost 20,973 10,952 Net gain/(loss) from financial liabilities 20,973 10,952

Wreck Bay Aboriginal Community Council Annual Report 2008–2009 95 Wreck Bay Enterprises Limited ABN: 42 093 444 869 Notes to Financial Statements for the year ended 30th June 2009

19D Fair value of financial instruments Carrying Fair Value Carrying Fair Value FINANCIAL LIABILITIES amount 2009 2009 amount 2008 2008 Other liabilities Borrowings 407,953 407,953 402,686 402,686 Total 407,953 407,953 402,686 402,686

19E Credit Risk The maximum exposure to credit risk is the risk that arises from potential default of a debtor. This amount is equal to the total amount for trade receivables (2009: $147,018 and 2008: $304,085). Wreck Bay Enterprises Limited has assessed the risk of the default on payment and has found it unneccessary to allow for doubtful debts at balance date.

Wreck Bay Enterprises Limited manages its credit risk by undertaking background and credit checks prior to allowing a debtor relationship. In addition, it has policies and procedures that guide employees debt recovery techniques that are to be applied.

Wreck Bay Enterprises has no collateral to mitigate against credit risk. Credit risk of financial instruments not past due or individually determined as impaired:

Not Past Due Not Past Due Past Due Past Due Nor Impaired Nor Impaired or Impaired or Impaired 2009 2008 2009 2008 $ $ $ $ Receivables for goods and services 124,509 272,054 22,509 32,031 Total 124,509 272,054 22,509 32,031

Ageing of financial assets that are past due but not impaired for 2009

31 to 60 61 to 90 1 to 30 days days days 90+ days Total $ $ $ $ $ Receivables for goods and services 1,199 564 373 20,373 22,509 Total 1,199 564 373 20,373 22,509

Ageing of financial assets that are past due but not impaired for 2008

1 to 30 days 31 to 60 days 61 to 90 days 90+ days Total $ $ $ $ $ Receivables for goods and services 5,371 6,310 7,327 13,023 32,031 Total 5,371 6,310 7,327 13,023 32,031

96 Wreck Bay Aboriginal Community Council Annual Report 2008–2009 Wreck Bay Enterprises Limited ABN: 42 093 444 869 Notes to Financial Statements for the year ended 30th June 2009

19F Liquidity Risk

Wreck Bay Enterprises Limited's financial liabilities are payables, finance leases and other interest and non-interest bearing liabilities. The exposure to liquidity risk is based on the notion that the company will encounter difficulty in meeting its obligations associated with financial liabilities. The company manages liquidity risk by monitoring forecast cash flows and ensuring that adequate unutilised borrowing facilities are maintained.

The following table illustrates the maturities for financial liabilities:

On Demand Wtihin 1 Year 1 to 5 Years > 5 Years Total 2009 2009 2009 2009 2009 $ $ $ $ $ Operations bank account - 143,868 - - 143,868 Trade creditors - - - - - Accrued expenses - 16,000 - - 16,000 Borrowings - 71,626 186,327 150,000 407,953 Total - 231,494 186,327 150,000 567,821

On Demand Wtihin 1 Year 1 to 5 Years > 5 Years Total 2008 2008 2008 2008 2008 $ $ $ $ $ Operations bank account - 95,733 - - 95,733 Trade creditors - 7,239 - - 7,239 Accrued expenses - 16,000 - - 16,000 Borrowings - 57,447 195,239 150,000 402,686 Total - 160,419 195,239 150,000 521,657

Wreck Bay Enterprises Limited has policies in place to ensure timely payments are made when due and has not had past experience of default.

Wreck Bay Aboriginal Community Council Annual Report 2008–2009 97 Wreck Bay Enterprises Limited ABN: 42 093 444 869 Notes to Financial Statements for the year ended 30th June 2009

19G Market Risk Wreck Bay Enterprises Limited holds basic financial instruments that do not expose the Company to certain market risks. Wreck Bay Enterprises Limited is not exposed to ‘currency risk’ or ‘other price risk’.

Interest Rate Risk

Financial Assets: The company maintains operating bank accounts to manage cash. The operating bank accounts bear interest at an average rate of 1.5% (2008:4.7%).

Note 20: Company Details:

The registered office of the company is: Wreck Bay Enterprises Limited Administration Centre Wreck Bay Jervis Bay Territory 2540

The principal place of business is: Wreck Bay Enterprises Limited Village Road Booderee National Park Jervis Bay Jervis Bay Territory 2540

The principal activities of the company are the provision of subcontract services to Booderee National Park, Wreck Bay Aboriginal Community Council, and Serco Sodexho.

98 Wreck Bay Aboriginal Community Council Annual Report 2008–2009