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SYDNEY CRICKET & SPORTS GROUND TRUST SCG12873_SectionA_24.08.07 15/10/07 1:30 PM Page B

TABLE OF CONTENTS MINISTER’S FOREWORD

Minister’s Foreword ...... 1 The Sydney Cricket Ground has The Trust’s capital works program of a unique place in the hearts of all $19.5 million in projects undertaken Chairman’s Report ...... 2 New South Wales sports lovers. during the year was primarily directed at providing new spectator, Managing the Events ...... 6 It is an historic venue which, player and hirer facilities. together with Aussie Stadium, Managing the Assets ...... 18 provides world-class facilities for I appreciate the Trust’s support Commercial and Operations ...... 24 Members, patrons and competitors. during the year for a number of community and charitable events Marketing and Membership ...... 26 It is also an iconic venue that is staged at the grounds, and the the source of many memories. Trust’s continued recognition Business Development ...... 28 of those Members attaining Who can forget those first 70 years membership of the Corporate Services/Financial Report ...... 32 experiences of a stand reverberating Sydney Cricket Ground. Information Technology ...... 38 to the sound of a crowd clapping, stomping and cheering a bowler I thank the Trust Chairman, Organisational Chart ...... 39 as he strides towards his delivery. Rodney Cavalier, his deputy John Cloney, their fellow Trustees, Trustees ...... 40 It is a venue that evokes passion, management and staff for their respect and excitement. hard work in the past year and Financial Indicators ...... 43 most of all the many Members It is also a venue that has sought to and supporters. Independent Audit Report ...... 44 look to the future hosting key events Statement by Members of the Trust ...... 45 for NSW. Music, AFL, League, Union, Football, Mundine v Green Audited Financial Statement and Notes ...... 46 and events to raise community awareness. It is a venue that Ethnic Affairs Priorities Statement ...... 84 continues to build towards success.

Code of Conduct ...... 86 During 2006/07 the Trust demonstrated its continued THE HON. GRAHAM WEST, MP Complaints Handling/Privacy Policy ...... 89 commitment to improve patron Minister for Gaming and Racing, Freedom of Information ...... 90 amenities and player facilities. Minister for Sport and Recreation Trust Charter and Constitution ...... 91 Trust Meetings ...... 92

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CHAIRMAN’S REPORT

The Trust exists to serve the glory For the previous decade we have for Sport, Rod Kemp, for seizing Properties Business Development The Trust continued to support of sport. This report covers the been driving debt levels down. the moment at the AFL Grand other charities and sporting In the course of the year the Over 60 per cent of venue usage year which ended on 28 February We are one of the few government Final in Melbourne to invite the benevolent groups in unheralded Trust funded a capital works for functions came from our 2007, another 12 months of agencies anywhere in the world Chief Executive Officer and myself ways. Being able to hold a function program totaling $19.5 million. sporting and commercial wonderful moments on our two to have secured a ratings upwards to apply for a grant. on or near the grounds means The works sought to improve the partners. The sale of annual grounds. In January lovers of during that period. The Trustees everything for those who enjoyed cricket, especially those who hold were the hardest audience to Before the construction program facilities in every area affecting facilities at Aussie Stadium was great triumphs on our soil. the Ashes in reverence, witnessed convince that a new grandstand began, Trust debt stood at spectators and users. You can strong throughout the year. The see the value of $3.25 million in portfolio of premium teams and what we did not ever expect would pay for itself. We did not $7.9 million. Marketing & Membership to see – Australia complete a want to follow the modern stadium work undertaken in the Churchill variety of quality events over the 5-0 scoreline against England. model of being servants to debt. Income from ground hire Dining Room, Club SCG and at course of a year represented very The Trust introduced Members Comprehensive demolition was $9.2 million, compared Aussie Stadium. good value to corporate clients. Liaison Officers during the 2007 of other Test sides in Australia The Trust became convinced that to $7.2 million in the previous International Cricket Season to may have become the norm, our business model and capacity year. Membership subscriptions The Rugby Centre of Excellence Expressions of interest were provide Members with an increased the Ashes may already have been to generate new and additional generated revenue of $10.8 million commenced in July 2006. At a invited for registered charities level of customer service. Our in the bag, nothing diminished revenues would make the new compared to $9.1 million in the cost of $6 million the facility is to become an official SCG Trust Liaison Officers were impossible to the magnificence of Australia’s grandstand viable. Spectators previous year. Membership sales designed to cater for all facets Charity for the next two years. miss. Assistance during a game is all out effort for victory in the Fifth outside the Members Reserve were strong. We believe the sales of Rugby’s operations in NSW. The six charities successful are: not hard to find given the distinctive Test in the shortest possible time. deserved modern facilities in that reflect market confidence in the • St Vincent de Paul Society uniforms worn by the attendants part of the Cricket Ground. For the Trust’s ongoing fixture programs The seating capacity of Aussie • Juvenile Diabetes Research and crowd controllers. Over the whole year there were first time a modern dining room and amenities. Sales of Gold Stadium was increased by 3,112 Foundation some 82 event days which drew will be serving the general public. Membership generated $4 million, seats. The cost was $4.6 million • Kidney Health Australia The Trust has secured additional 1.6 million spectators. The Trust was confident too that, compared to $3.8 million in the during the course of five • Canteen reciprocal rights at other venues having denied itself tax dollars for previous year. construction stages. Aussie • Lupus Foundations of NSW and sporting grounds. Members The Trust continued to operate in more than a century, the project Stadium now has a second video • Roden Cutler Charities INC can now seek the exercise of profit – $5.5 million compared to would attract support from the Revenue from the rental of annual screen at the southern end. their SCG membership at $4.7 million in the previous year. governments serving NSW. That private suites and corporate boxes The Harvey Norman Media M. Chinnaswamy Stadium Every dollar is hard won these confidence was justified. On Day 3 was $4.6 million compared to For a Trust conscious of its Challenge was held for the (Bangalore, India), Eden Park days. The environment is more of the Test Match, the Prime $3.5 million in the previous year. history and traditions, the SCG second time. This touch football in Auckland, New Zealand and competitive than ever, especially Minister, the Hon John Howard, Marketing of suites and boxes and Museum will continue to receive day involves teams from all the Queen’s Park Cricket Club from interstate. Our solid financial MP, announced a Commonwealth the sale of premium public seating loving attention. The work the major Sydney media and (Port of Spain, Trinidad). base, confidence about generating grant of $25 million towards the for major events generated revenue undertaken was not so much advertising outlets. Over $100,000 revenues, convinced the Trustees construction costs. The Trust of $8.6 million compared to refurbishment as a complete was raised for the Leukemia The Trust offered a range of event to embark on the largest program has expressed its gratitude to $5.2 million in the previous year. overhaul of the content, the Foundation. Organisers are and non-event day events and of capital works since the Mr Howard and his Government possibilities for exhibitions confident they can increase activities for Members. The 2007 construction of the Sydney for their generosity. I want to and general presentation. this in following years. SCG Ashes Test Match saw the Football Stadium in 1986-88. thank the former Federal Minister

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CHAIRMAN’S REPORT CONTINUED

launch of after-match drinks for depending on a win in the final Sydney FC again finished in the top worth pursuing, provided always Rugby League player, coach and Country Members (including a round, the NSW Waratahs lost to four. Their home semi-final victory staging sport takes primacy. administrator; Wallaby captain, talk from one of their own, Doug the Hurricanes in front of 37,042 against the Newcastle Jets at Special events augment significantly Trevor Allan; Stella Hills, widow Walters), cricket clinics for Junior fans. Home attendances were Aussie Stadium was not enough to Trust revenues so as to keep down of Trust Chairman, Pat Hills. Members, a commemorative photo strong for the NSW Waratahs. secure a path into the grand final. membership subscriptions. The for 70-year Members on the SCG. The average home crowd was February 2007 saw the Inaugural events are a stimulus to local I thank each of the Trustees for The Village Green – which some of 25,079. A stalwart in Chris Foundation Cup between the employment and the NSW and their service, loyalty and their own us remember as SCG No 2 – now Whittaker retired at the end Sydney Roosters and Wests Tigers. Australian economies. distinctive contributions. We work has a gigantic marquee. It was a of the season. The Club Rugby The event has taken its place as together to provide the highest facility of considerable value when Grand Final was again staged a major occasion in the rugby Following the success of his standard of facilities and services the heavens opened on the first at Aussie Stadium in September, league calendar. remarkable concerts at Aussie to serve sport in this state. morning of the Test Match. with Sydney University winning Stadium in 2003, Robbie Williams Demand for the Members Test 16–10 over Randwick. Aussie Stadium hosted three returned with a breathtaking I acknowledge the contribution of Match Breakfast was such that we games in the NRL Telstra performance in December 2006. my Deputy, John Cloney, who also staged a second and sold it out. The 2005 Ashes series in England Premiership finals series in Each night was a record stadium serves as Chairman of the Finance created expectations that were 2006. St George Illawarra Dragons attendance. The Saturday night Committee. I thank John for his played Manly Warringah Sea performance set a new stadium Our Sports Partners always likely to overshadow the tireless support and wise counsel. Eagles. The Dragons ended record of 52,650. reality of 2006-07. England did not The Sydney Swans went within one the gallant Sea Eagles year. once play with the determination of I thank our Chief Executive Officer, point of winning two premierships The Brisbane Broncos defeated This year boxing returned Jamie Barkley for his work across in a row. Nine games were played 2005, not once did they stare down the Newcastle Knights in the to Aussie Stadium, when the a remarkable range of demands. at the SCG. Their match against an emphatic Australian effort to second. The Broncos achieved mercurial Anthony Mundine Through Jamie I thank his senior the Carlton Blues on Sunday take the initiative. a remarkable comeback victory took on and defeated Danny managers, the staff of the Trust 3 September saw the Sydney against the Canterbury Bulldogs in Green. The clash was amongst The Test Match finished before and all of the Event Day Staff. Swans win by 92 points. the preliminary final after trailing the most highly anticipated boxing lunch on the fourth day. 170,168 20-6 at half-time. events in decades. The attendance I congratulate Geoff Lawson OAM While the Sydney Swans were spectators attended the SCG. was a record, television ratings and Ken Catchpole OAM on their disappointed with their one point Those present saw the farewells Commercial Operations were huge. re-election by the Members for Grand Final loss, they were able to of Shane Warne, Glenn McGrath another four year term. celebrate Adam Goodes Brownlow and Justin Langer. Concerts, tattoos and special Acknowledgements Medal win for the second time events place heavy demands in his career. The SpeedBlitz Blues again on our grounds and staff. Their The Trustees tried to acknowledge performed strongly in domestic staging is not always a comfortable the passing of those who had made The NSW Waratahs just missed competitions. Four games were distance to a scheduled sporting a significant contribution to our out on hosting a semi-final at played at the SCG with the Blues event. The returns to the Trust grounds. Trustees observed silence RODNEY CAVALIER, AO Aussie Stadium. With everything drawing three and losing one. make these occasional events for the passing of Dick Dunn, Chairman

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MANAGING THE EVENTS CRICKET

International Cricket The One Day Internationals and Twenty20 International were Yet again, the SCG played a tremendously popular with over special role in the history of 146,000 people attending the international cricket, hosting the shorter versions of the game. fifth Ashes Test Match and three Unfortunately, Australia lost One Day Internationals, as well the second final at the SCG to as a Twenty20 International – a resurgent England team, but a first for Sydney. provided a great spectacle in the historic Twenty20 International. With the tremendous build up following the 2005 Ashes series in England, the Australian team NSW Cricket created history by winning the The Speedblitz Blues again SCG Test Match and claiming a performed strongly in domestic 5–0 series win for the first time competitions, being close to the since 1921. top of the table in the Pura Cup.

Although finishing before lunch The Blues played four home on Day Four, 170,168 cricket fans Pura Cup games at the SCG, attended the SCG to see Australia drawing three and losing one. win and to witness Shane Warne Two Ford Ranger Cup games play his last game for Australia. were played, with the Blues One of NSW’s favourite sons, winning one and losing one. Glenn McGrath, and record breaking opening batsman, Justin Langer SCG Country Cup also retired from Test cricket, making the lap of honour a special The SCG Country Cup provided occasion for all in attendance. an outstanding opportunity for country cricketers to show their Off the field, extra seats and skills with Merewether Cricket activities allowed Members and Club and Tamworth District patrons to enjoy better service Cricket Association winning and amenities than ever before, their way through to the final at further enhancing the SCG’s the SCG on Sunday 4 February. reputation as the spiritual Merewether were the victors home of cricket in Australia. by 42 runs.

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MANAGING THE EVENTS AFL

Sydney Swans Round 16 also marked the 25th year in Sydney for the Sydney Swans. Falling just short of a remarkable The pre-match entertainment double, the Sydney Swans had featured players from the original an outstanding season losing Sydney Swans team who played by one point in the Premiership their first match against the decider against arch-rivals the Melbourne Demons at the SCG West Coast Eagles. in 1982.

While the Sydney Swans were During 2006, nine games were disappointed with their one point staged at the SCG, with an average Grand Final loss, they were able to attendance of 31,546. The Sydney celebrate Adam Goodes Brownlow Swans performed well at their home Medal win for the second time in ground, winning five of these games. his career. The highlights throughout the After winning only one of their year were many, with 38,371 fans first four games, the Sydney attending the game against Swans bounced back to win Richmond on Saturday 22 July. six successive matches before a narrow loss of two points to the St Kilda Saints in round 11.

A strong performance against the Richmond Tigers at the SCG in round 16 saw the Sydney Swans maintain 7th position with six rounds to go.

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MANAGING THE EVENTS RUGBY UNION

NSW Waratahs Rotomahana Challenge Coming off the back of an The NSW Waratahs kick-started outstanding 2005 season reaching their 2007 season with a 17-12 win the final of the Super 14 competition, against the Canterbury Crusaders in the NSW Waratahs were again the annual Rotomahana Challenge a force in 2006. on Thursday 25 January at Aussie Stadium. After losing last years Six games were played at Aussie match by two points, the NSW Stadium; with the NSW Waratahs Waratahs were eager to square performing exceptionally well at their the Rotomahana Challenge ledger home ground winning five games. and win back the trophy.

Overall, attendances were again Club Rugby strong at Aussie Stadium for NSW Waratahs games, with an The Club Rugby Grand Final was average home crowd of 29,930. again staged at Aussie Stadium, The NSW Waratahs narrowly the home of rugby in September, missed out on hosting a semi- with Sydney University winning final at Aussie Stadium, losing in 16–10 over Randwick. the final round to the Hurricanes in front of 37,042 fans.

Chris Whittaker, NSW Waratahs captain and Australian Wallaby retired following the 2006 season.

In-bound Tour NSW Waratahs and New Zealand Maori played an in-bound tour match at the SCG on Friday 2 June, bringing their 2006 season to an end. The Maori outscored the home side three tries to one with a try two minutes from full-time securing their 20-16 victory.

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MANAGING THE EVENTS RUGBY LEAGUE

Sydney Roosters NRL Finals Series Foundation Cup The Sydney Roosters showed Aussie Stadium hosted three games February 2007 marked the glimpses of promise and recorded in the NRL Telstra Premiership finals inaugural Foundation Cup some strong wins at Aussie series in 2006. St George Illawarra between two foundation clubs – Stadium, with over 136,000 fans Dragons v Manly Warringah Sea the Sydney Roosters and Wests attending during the 2006 season. Eagles being the first, the Dragons Tigers. The concept, developed by ending the gallant Sea Eagles year. the Trust and the two clubs as a This season marked the start The Brisbane Broncos defeated season opener, saw 16,198 eager of a new era, with a new coach, the Newcastle Knights in the fans file through the turnstiles. new signings and new 12 year second and the Broncos achieved The Sydney Roosters won 10-4. deal with the Trust that will see a remarkable comeback victory The success of this event will see the Sydney Roosters move all against the Canterbury Bulldogs the Foundation Cup staged at of their football and front office in the preliminary final after Aussie Stadium each year. operations to Aussie Stadium. trailing 20-6 at half-time. Tri Nations The club also celebrated its Close to 83,000 fans attended centenary year in 2007 with the finals series, reinforcing Aussie Stadium hosted a pool game celebrations held at home games Aussie Stadium’s status as the and the final of the Tri Nations and a special commemorative number one rugby league venue. Rugby League series in November. jersey to be worn by the players. The opening game against Great Britain on Saturday 4 November Manly Warringah attracted 24,953 fans and the final The Sydney Roosters secured Sea Eagles their first major signing in late against New Zealand on Saturday July 2006 to mark the club’s Manly Warringah Sea Eagles played 25 November, just under 28,000. 100th season. Queensland State a Grand Final replay at the SCG of Origin and Bulldog forward against their arch-rivals Parramatta With scores locked at full-time, Nate Myles signed with the Eels in April. The game marked the final was forced into extra club for three years. the 30th anniversary of Manly’s time. Despite several field goal win over Parramatta in 1996. attempts by both teams it was Trust Ambassador and Australian ANZAC Day The game was a memorable one, skipper Darren Lockyer who The annual clash between with a field goal in extra time to the scored a runaway try in the the Sydney Roosters and the Sea Eagles Matt Orford to clinch second period of extra time, St George Illawarra Dragons was a 23-22 win in front of 19,208 fans. sealing a 16-12 victory. played on ANZAC Day. The event proved popular, with a crowd of over 30,000. This event is now one of the signature events of the NRL Telstra Premiership.

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MANAGING THE EVENTS FOOTBALL

Sydney FC Asian Cup Qualifying Fixtures Sydney FC started the second year of the A League as premiers; Aussie Stadium hosted two with a new look team and a new Socceroos Internationals against coach in Terry Butcher. Kuwait and Bahrain in 2006. The match against Kuwait was Sydney FC began their A-League the first for the Socceroos after title defence on Sunday 27 August their outstanding efforts in the triumphing 1-0 against Central 2006 FIFA World Cup in Germany. Coast Mariners in a Grand Final replay at Aussie Stadium. The fans showed their ever increasing appreciation for the Despite being plagued with Socceroos with close to 70,000 injuries in the first half of the year, attending the two games. Sydney FC performed strongly at home finishing in the top four. Having won both matches, Of the 10 home games played the Australian team secured the at Aussie Stadium, Sydney FC top position in their Asian Cup won five and drew three. qualifying group. Australia then went on to join 15 other teams Their home semi-final victory to play for the Asian Cup in July. against the Newcastle Jets at Aussie Stadium was not enough to secure a place in the Grand Final.

The attendance for the season totalled 171,108, firmly positioning Sydney FC on the Sydney sporting event calendar.

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MANAGING THE EVENTS SPECIAL EVENTS

Boxing Concert Anthony Mundine v Danny Green Robbie Williams History was created at Aussie Following his remarkable Stadium in May 2006 with its concerts at Aussie Stadium first ever boxing event between in 2003, Robbie Williams again Anthony Mundine and Danny Green, returned with a breathtaking demonstrating the Trust’s ability performance in December 2006. to attract and manage a major sporting event of this type. History was created two nights running, with record stadium The Aussie Stadium arena attendances. The Saturday night was transformed with the ring performance set a new stadium positioned in the centre of the field. record of 52,650. 10,000 boxing aficionados enjoyed ringside seats and fine dining. The stage lighting and sound set up for the concerts was the biggest Over 30,000 fans cheered loudly ever staged at our venues with creating an atmosphere which will over 70 shipping containers of forever be a part of Australian equipment painstakingly erected sporting folklore. inside the stadium.

The clash was one of the most Robbie greeted the sell out highly anticipated boxing events crowds at Aussie Stadium in decades, drawing a record by bursting onto the stage attendance and massive in a blaze of pyrotechnics. television ratings. Williams did not disappoint his Anthony Mundine proved too classy Sydney fans as he sang a string for Danny Green on the night and of his classic hits along with after the full twelve rounds, secured some new releases from his a unanimous points decision. latest album.

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MANAGING THE ASSETS

In 2006/07 the Trust funded the in NSW. Team specific spaces Other Works largest Capital Works Program will be located on the ground floor, • SCG Flood Lighting Upgrade: totalling $19.5 million since the including gymnasium, medical and Stage 2 works were completed construction of Aussie Stadium treatment rooms, change room and with the installation of new (Sydney Football Stadium) which locker facilities, meeting rooms, sub-stations. New headframes was completed in 1988. lecture theatre/media conference and a new sports lighting room, players lounge and kitchen. system will complete the Catering and Function upgrade in 2007. Level one will accommodate Area Improvements • Heritage balustrades were the NSW Rugby’s Sydney based installed in the Members Several projects totalling administration with space for and Ladies Pavilions. $3.25 million were completed over 60 staff. This level will • TV broadcast expansion and over the last 18 months: also include a fully equipped renovations were carried out at • Churchill Dining Room boardroom, meeting rooms the SCG and Aussie Stadium. • Club SCG in the and dedicated IT and video • Aussie Stadium home Churchill Stand analysis facilities. • NSW Cricket Club membership dressing room was enlarged in the Bradman Stand and renovated. Aussie Stadium • Azure • SCG Projects for the Seating Increase • Aussie Stadium eastside International Cricket Season concourse project redeveloped The seating capacity at included the installation of back of house areas into two Aussie Stadium was increased 297 additional seats into the new food outlets, Hot Wok and by 3,112 seats at a cost of Members Reserve and 285 Mama Leone’s, and a new bar $4.6 million. The project was in the public areas. constructed and fitted out. constructed in five stages to • Catering infrastructure: accommodate the event schedule register and IT system upgrade, from May 2006 to February 2007. coolrooms and bars and transport vehicles. Aussie Stadium Second Video Screen NSW Rugby Centre A second full colour video screen of Excellence was installed at the southern end Construction of the new home of Aussie Stadium at a cost for NSW Rugby is well advanced. of $1 million. Works included Works commenced in July 2006 an auxiliary amber single line and occupation by the players will scoreboard below, screen enclosure, commence mid 2007. The $6 million enlarged screen/PA control room facility was designed to cater for and associated equipment all facets of Rugby’s operations replacements and upgrades.

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MANAGING THE ASSETS CONTINUED

Looking Ahead – New • A new second video scoreboard The Ashes Test Match was played Aussie Stadium throughout 2005 to ensure SCG Hill Grandstand will be located in the Clive on pitch number three and was Playing Field suitable turf was available from Churchill Stand ensuring the considered the best pitch prepared the Trust’s contract turf supplier. In 2008 a new grandstand will The playing surface of Aussie spectators do not miss any of for several years. The 2006/07 The major 2006 renovation included complete the evolution of the Stadium was in excellent condition the action. The existing video cricket season included a heavy the replacement of 8700m2 of turf Hill from sandhill to terrace for the commencement of the scoreboard will be relocated schedule of 50 days. With no state carried out in a record time of to grandstand; a $76 million 2006 Super 14 season. to the top of the Dally final matches played at the SCG six days. Works commenced on redevelopment project. Messenger Stand. and some matches completed Friday 15 December, the day after a In past years, a period of some • A new outdoor food court in fewer days, the season was Sydney FC game and four days after The project involves the removal 10-12 weeks was available to will be available for patrons reduced to 24 matches played of all existing structures located complete annual renovation works the second Robbie Williams concert. to enjoy, enhancing their over 43 days. between the eastern end of the match day experience. and establish a playing surface Clive Churchill Stand and the for the following football season. Works were completed on southern end of the Bill O’Reilly The introduction of Sydney FC into 20 December 2006 and Sydney FC Stand. The new Hill Grandstand SCG Playing Field the Aussie Stadium annual event played their first game for 2007 on will have a similar design to the The 2005/06 cricket season ended schedule reduced this available the Sunday 7 January. On completion existing Churchill and Brewongle with the last match played on period to approximately five weeks of the seating expansion program Stands, providing seating for Monday 13 March. Renovation from Saturday 3 December 2005 in February, the perimeter turf patrons over three levels. works commenced immediately to Friday 6 January 2006. areas of the ground were returfed. for the 2006 AFL season. The The field was in good condition The construction of a new preparation works ensured that As a result, a no risk approach for the start of the NSW Waratahs grandstand on the Hill will provide the wicket square and outfield was adopted and the playing field season and the NRL Foundation much needed improvements were in excellent condition for the is returfed on an annual basis. Cup between the Sydney Roosters to existing facilities at the SCG. first AFL game, Sydney Swans v Much work was undertaken and Wests Tigers. It will meet the objectives of Port Adelaide on Sunday 9 April. the Trust to provide world-class In addition to the Sydney Swans spectator facilities and increased normal season, the SCG hosted spectator capacity. an NRL game, Parramatta Eels v Manly Warringah Sea Eagles Facilities include: on Sunday 30 April and a Rugby • Approximately 2,800 additional Union game, NSW Waratahs v seats will increase the SCG’s New Zealand Maori on 2 June. capacity to almost 47,000. • Over 8,000 seats will be On completion of the AFL season, undercover with direct access renovations included some minor to all facilities. turf replacements and the • The grandstand will include eradication of the wintergrass. outstanding dining and The wicket square was closely function rooms. monitored with the Ashes Test • A modern forecourt entrance Match ahead. Pitch five and eight on Driver Avenue will provide had significant wear and required spectators with fast entry via maintenance. The centre wicket escalators and easy access area for the first time in many to their seats. years did not require returfing.

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MANAGING THE ASSETS CONTINUED

Strategic Asset • CCTV and MATV replacement The Trust supports the OH&S The report to be submitted to SCG Museum Management Plan and upgrade programs committee in keeping up-to-date the Heritage Office early in 2007, Refurbishment of the SCG Museum ($110,000) with the policies and procedures will include: The Trust 10-year Strategic including a complete overhaul • Resurfacing of tennis courts that affect the wellbeing of staff • General context and Asset Management Plan (SAMP) of the exhibition content and three and four ($40,000) and patrons. The Trust actively information regarding the has been prepared in accordance presentation, was the main focus encourages staff training to SCG, its size and location, with State Government guidelines. for 2006. New interior finishes and facilitate a greater level of the history of the Trust, its It contains asset management WRAPP modern show cases have made awareness of risk and safety management context, heritage strategies, compliance and The Trust Waste Reduction and many articles more accessible, and through courses such as: Senior listings and existing asset condition assessment results Purchasing Plan (WRAPP) was produced an improved, cohesive First Aid, Safe Manual Handling, management structure. and life cycle costings. The asset submitted to the Department of display. Feedback on the project, and First Attack Firefighting. • A summary history of the SCG, management strategies have Environment and Conservation which cost over $70,000, has been a statement of significance for been linked to the Trust’s service in 2005. An update is scheduled positive, especially from donors. The small number of workplace the SCG and a description of delivery objectives to achieve to be submitted in 2007. WRAPP injuries resulting in workers the range of heritage assets Acquisitions from sports players, desired service levels and to strategies implemented by the compensation claims in the last within the SCG. Members and the general public manage costs efficiently. Trust include waste minimisation, financial year reflects the value • The key principles that will continue to add to the historical recycling systems, increasing and effectiveness of the committee. guide the management by value of the collection. The plan was updated in purchases of recycled-content At the beginning of 2006, the Trust the Trust of the SCG and its September 2006. The following material, and increasing staff conducted an OH&S audit and heritage assets in particular. Almost 40 oral history interviews SAMP projects were included in the awareness of best practice waste commenced the implementation • The Key Action Plan with have now been conducted, spanning 2006/07 Capital Works Program: management and purchasing. of a site wide OH&S Plan. This is a explanatory text. The plan players, Trust employees and two year project and is essential for presents, in a concise tabular spectators. Some subjects recalled • Lift Upgrade Program: the Trust to establish a compliant Occupational Health format, the content of the sporting events from the 1920s new goods lift installed in OH&S plan. and Safety (OH&S) HAMS as a tool for identifying, and 30s, with their perspective the MA Noble Stand to service The Trust actively seeks to planning and managing the providing valuable insight into the main kitchen ($180,000) promote and maintain a safe Heritage Asset SCG’s heritage assets. the history of the site. • Completion of fire environment for all staff and Management Strategy detection and early warning visitors. Representatives from The Trust prepared a Heritage intercommunication system in each Trust department and Asset Management Strategy (HAMS) the Brewongle Stand ($280,000) permanent contractors onsite in accordance with the requirements • Toilet Upgrade Program: meet bi-monthly to review safety of the Heritage Act 1977 (NSW). new accessible toilet installed issues and/or incidents that may in the Kippax Carroll Room and possibly arise or have occurred Section 170 of the Heritage Act general upgrades ($50,000) on event and non-event days. requires all state agencies to • The annual replacement of On alternate months the prepare HAMS to provide a major plant and equipment committee conducts an inspection framework for protecting and including grounds machinery, of a designated area on site maintaining heritage items under IT equipment, televisions, to establish and rectify any their custodianship, along with furniture and catering potential OH&S risks. All information on required processes equipment ($325,000) minutes and reports from OH&S and priorities, towards the • Floor finishes program ($40,000) committee meetings are available establishment of a Section 170 • Air conditioning program for staff on staff notice boards Register for each state agency. ($80,000) and are presented to the Trust • Structural rectification program through the Grounds and Event ($100,000) Services Committee.

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COMMERCIAL AND OPERATIONS

82 major event days and Human Resources Service Providers The new agreement will include Event Attendances additional outlets and a new look nearly 1.6 million patrons The Trust currently employs 91 full-time staff in the following departments. All Leisure Hospitality 1 March 2006 – 28 February 2007 retail store on the forecourt of The Compass Group (trading as SCG and AUSSIE STADIUM attended our venues. Aussie Stadium providing hirers Feb 06 Feb 07 All Leisure Hospitality) commenced and patrons with enhanced FTE Employees FTE Employees International Test its second five year term as the services. The Trust looks forward Executive Staff 6.00 6 7.00 7 Match Cricket 170,168 Trust’s exclusive catering services to a continuation of its strong Administration 5.00 5 4.65 5 provider in 2006. relationship with Playbill. One Day Commercial & Operations 17.42 18 17.28 18 International Cricket 111,273 Business Development 8.60 9 9.00 9 All Leisure performed well under Cleaning Corporate Services 9.04 10 10.98 13 Twenty20 difficult circumstances with With 82 event days and over Properties 28.53 30 28.60 30 International Cricket 35,628 outstanding results at international 1.5 million fans attending, Marketing & Membership 29.16 29 31.52 66 Security & Access cricket and special events such the huge task of cleaning and NSW Speedblitz Blues 32,870 as the Anthony Mundine v Danny waste management was Security and access again 103.75 137 109.03 148 Sydney Swans 283,917 Green boxing event with 1,440 undertaken by ISS Facility maintained a high level of focus meals served on the arena. Services (ISSFS). NSW Waratahs 200,635 for the Trust throughout 2006/07. The breakdown of employees at 28 February 2007 was: Club Rugby Grand Final 8,225 Ticketing ISSFS and its dedicated staff As a high profile venue and Ticketek Pty Limited expanded its worked diligently to ensure that NRL Finals Series 82,499 a Member of the Government’s Full-time Part-time Casual FTE Total Employees partnership with the Trust through the SCG and Aussie Stadium were Critical Infrastructure Group, 91 12 42 109.03 148 Asian Cup the provision of ticketing services presented at the highest standard. the Trust has reinforced security across both venues for the patrons Qualifying Games 69,268 measures during event and that attend events. Traffic, Transport & Access Sydney Roosters 136,027 non-event modes. With improved planning and 2006 2007 St George Ticketek’s proven track record communication processes in Emergency management has Executive Remuneration Male Female Male Female Illawarra Dragons 31,105 in ticketing expertise came to the place, traffic, transport and played a key role in this aspect of fore with the web-based Ezyticket. access services for Trust Manly Warringah our operations, with a full review Number of Executive Officers It proved popular with fans able to venues improved in 2006. Sea Eagles 19,208 of the Trust’s emergency plan with remuneration equal to enjoy the convenience of purchasing conducted and implemented or exceeding equivalent of Foundation Cup 16,198 and printing tickets for events at These processes, lead by the throughout the year. SES Level 4 5 – 6 – Aussie Stadium and the SCG in the NSW Premier’s Department Tri Nations 52,278 comfort of their home or office. create a strong foundation for Number of Executive Officers Sydney FC 171,108 future improvements in this area. with remuneration equal to Merchandising Boxing Event 30,000 or exceeding equivalent of In 2006 the Trust conducted a In conjunction with the NSW SES Level 5 1 – 1 – Robbie Williams Concert 105,074 tender process for the provision Government, short, medium of merchandising services. and long-term strategies SCG & Aussie Stadium have been identified and Totals 1,555,481 The Trust’s existing partner Playbill include integrated ticketing, Pty Limited was successful in the pre booked parking, temporary Stadium Fitness Centre tender process, signing a new road closures and improved Totals 214,443 exclusive merchandising agreement access for public transport. for a period of five years.

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MARKETING AND MEMBERSHIP

Events Liaison Officers • Regular Members email alerts SCG Tour Experience Azure Segmented into three main The Trust continued to develop Members Liaison Officers The SCG Tour Experience is an Gold Members and their guests categories based on a range of match day and non- were introduced during the 2007 interactive behind-the-scenes can now enjoy a new dining membership types. Gold match day events and activities International Cricket Season excursion through the SCG and experience with the recent Member E-News, SCG Member for Members. at the SCG providing Members Aussie Stadium. Several marketing opening of Azure. Members can E-News and Trust E-News. with an increased level of • Trust Website strategies were implemented, supplement their training with The 2007 Ashes Test Match saw which resulted in a 25 per cent customer service. For the first Distinct SCG and Gold a range of meals from the new the launch of several new Member increase in tour participation time a reserved seating ballot Member sections on the ‘health conscious’ menu or initiatives including Country compared with the previous year. was implemented for Members, new Trust website. simply relax in the lounge area Members Drinks, Junior Member with 91 per cent of requests • Electronic signage board with a freshly brewed coffee. cricket clinics, a 70-year Member accommodated. Installed at venue services. Stadium Fitness Centre commemorative photo on the Australia’s premier health, SCG, an expanded Village Green Subscriptions marquee and an additional Surveys lifestyle and recreational facility Members Test Match Breakfast. Membership Services recently Membership Services conduct continues to expand with a record implemented new technology regular online surveys following usage of 210,000 visits in 2006. At Aussie Stadium, the League in the form of automated pay- key events to keep in touch with Latest and Rugby Roundup post- by-phone subscription system, Members feedback on services The area comprising of spa match functions continued to allowing Members to pay and facilities. This research and sauna facilities now also provide Members with additional their fees. enables benchmarking of the includes a steam room which complimentary activities to Trust’s performance across key provides another health option enhance their event experience. Communication categories, with recommendations for Members. On non-match days the Trust held for improvement. a range of activities for Members The Trust continually strives In an effort to maintain the to provide accurate, current and highest water quality, the Stadium including golf days, Christmas Venue Services parties and the Bradman specific information to Members Fitness Centre pool was equipped Foundation Gala dinner. on a regular basis through a range Venue Services continues to with a new plant room which of targeted communication enhance membership through the includes a digital automated mediums such as: dosing system and use of Reciprocal Rights efficient delivery of services and • Trust News programs to Members. The Venue granulated chlorine. The Trust secured additional PlacedHerald in the Sydney Morning Services office manages a Ticketek reciprocal rights at other venues on the first Saturday of agency, general enquiries and The Stadium Fitness Centre’s and sporting grounds including each month. sale of merchandise in addition to fully qualified staff continue to M. Chinnaswamy Stadium in • Around the Grounds daily bookings for tennis, squash, provide the highest standard of Bangalore in India, Eden Park Members bi-annual magazine swim school, crèche and the SCG services to Members and their in Auckland, New Zealand and segmented into distinct SCG Tour Experience. guests in personal training, Queen’s Park Cricket Club, and Aussie Stadium sections. program design, fitness Port of Spain in Trinidad, West • What’s on When fixture The installation of state-of-the-art assessments, swim school, Indies which provides Members card listing all SCG and electronic signage in the Venue tennis/squash coaching, group with opportunities to visit Aussie Stadium events Services foyer has improved fitness classes, massage international grounds. for the coming season. communication to Members by and crèche services. displaying daily corporate functions, important Member notices and coming event information.

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BUSINESS DEVELOPMENT

Sponsorship, Hospitality Aussie Stadium Gold & Corporate Hospitality sales for the NSW Exclusive Supply and SCG Membership Sales Advertising Rights Waratahs continued to do well Not surprisingly the 2006 hospitality Gold membership sales in 2006. The strong interest in The Trust’s advertising and program was strongly influenced by increased with the continuation the Super 14 matches at Aussie sponsorship program continues the highly anticipated International of the Member-get-Member Stadium together with the quality to generate significant income Cricket Season. Although not and Member Upgrade program. of the packages offered and from the corporate sector. In the quite living up to the competitive The Trust focused on offering convenient scheduling, combined last financial year, as a result expectations on the field, Members opportunities to to achieve a result just shy of of this support and the work of exceeded even our most ambitious upgrade their membership status challenging forecasts. our sales partner Moore Sports expectations off the field, with or introduce their friends and Advertising, the Trust achieved returns to the Trust and our partner colleagues to the benefits of Gold The sale of annual facilities results in line with its strong Cricket NSW well ahead of forecasts. and/or Corporate membership. at Aussie Stadium was strong revenue forecasts. throughout 2006. The portfolio The unprecedented number of Building relationships with of premium teams and variety of The Trust is fortunate to have hospitality clients at the SCG for strategic commercial partners quality events over the course of continued its strong partnerships the Ashes Test Match provided us to provide quality incentives and a year represented good value to with Aussie Home Loans, with an opportunity to thoroughly rewards for new and upgrading research the expectations and corporate clients. Other premium Foster’s Australia, Coca-Cola Gold and Corporate membership experiences of corporate patrons, Amatil, Fairfax, Ticketek, the TAB, inclusions within the annual was critical to the success of both hosts and guests, throughout the Motor Accidents Authority, packages further increased their these campaigns. the International Cricket Season. Qantas, UD Trucks, Gray’s appeal and translated into growth The survey results were very positive Online and Campbell’s. in both annual corporate boxes The Trust conducted a public and included some interesting and annual private suite sales. Gold membership campaign with suggestions, which will assist us The quality and quantity of the creative featuring high profile to further refine and develop our corporate clients who have Casual sales at Aussie Stadium Gold Members. This resulted hospitality products. invested in Trust packages focused primarily on Rugby. in widespread positive brand is a positive reflection of our Casual enquiries for the Sydney recognition throughout the cricket The strength of the SCG schedule, competitive price structure Roosters and Sydney FC were season and continued to drive sales the success of our resident teams directed in the first instance to the throughout the summer months. and the return on investment. and the interest in the International relevant club. Both these Sports In keeping with our desire to Cricket Season, drove the sale of Partners appreciated the support establish long-term partnerships, annual facilities to results not given with this approach. The the Trust is conscious of its need achieved at the SCG in recent times. to offer the market valuable change to the scheduling and allocation of venues for the NRL opportunities, brand growth, The supply of SCG suites available finals restricted the ability of revenue returns and promotional for casual AFL packages was development. With this in mind we limited due to the increase in clients to take up series packages, are developing a small range of annual suite sales. Club SCG an area of sales which had always premium products offering further was fully subscribed however it done quite well previously. official rights and exclusivities became evident that the take up that we hope to introduce to of allowable guest passes for the The Tri-Nations Rugby League the market place during 2007. AFL was minimal. This created tournament, the Mundine v Green an opportunity to capitalise on the fight and the Robbie Williams success of the Sydney Swans and concerts provided substantial sell casual packages into Club SCG upside to the sale of casual throughout the latter part of winter. packages at Aussie Stadium.

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BUSINESS DEVELOPMENT CONTINUED

Media and PR messages were effectively were staged at the SCG and allowed The Harvey Norman Media conveyed to the public and all the Trust to further promote the Challenge was held for the The iconic regard for the SCG media facilities were of the SCG’s proud history and heritage. second time at Aussie Stadium. and Aussie Stadium was strongly highest order. upheld by the media and national This touch football day involved corporate PR offices during the Functions & Community teams from all the major Sydney The world’s media focused on past year with over 50 launches, media and advertising outlets. the historic nature of the fifth The SCG and Aussie Stadium media shoots and media Participating teams were allowed Ashes Test Match and the SCG’s continued to be sought after venues conferences staged in addition to invite sports stars as team majestic appearance was carried for a variety of business events to regular event day sports media members and the final was played across the globe through expansive such as meetings, awards nights, conferences and live TV and on Aussie Stadium. Over $100,000 TV and still images when Glenn press conferences, training days, radio event day news broadcasts. McGrath, Shane Warne and Justin fundraising lunches and dinners. was raised for the Leukemia Langer closed their Test careers Foundation and organisers are The choice to stage these events on the final day’s play. These The volume of capital works at confident they can increase this at the SCG and Aussie Stadium images further underlined the Aussie Stadium limited our ability to in following years. continued to maintain the profile, popular view that the SCG is one maximise the interest in this venue public presence and strong of world’s best cricket grounds. to the same extent as previous years. branding of our venues. The Where possible, the Trust continued venues appeal and diversity Given the busy and high profile to support worthy charities and expanded beyond the traditional not-for-profit organisations. sports market with product nature of the SCG and Aussie Expressions of interest were launches, health announcements Stadium, an overarching Media invited from Registered Charities and travel TV segments all being Policy, Protocols and Guidelines to become an Official SCG Trust conducted on site. document was developed to allow media related matters to be Charity for the next two years, from July 2006 to June 2008. The enhanced and upgraded press, handled swiftly, professionally and radio and TV facilities at Aussie accurately while promoting and Stadium was favourably received protecting the reputation of the The successful six charities for by media representatives from Trust, its officers, contractors preferred status are St Vincent all sports codes while the SCG’s and Sports Partners. de Paul Society, Juvenile Diabetes cricket media operations were Research Foundation (JDRF), regarded as the best in Australia The staging of the two Asian Cup Kidney Health Australia, Canteen, by seasoned reporters. qualifying matches, two Tri Nations Lupis Foundations of NSW and rugby league matches, the Mundine Roden Cutler Charities. The international summer v Green fight, the inaugural of cricket, which featured the Foundation Cup rugby league In addition, the Trust supported fifth Ashes Test Match, was fixture and the two Robbie Williams the Bradman Foundation, the highlight of the past year. concerts ensured further additional Sony Foundation, Steve Waugh Considerable time and resources media focus on Aussie Stadium. Foundation, Cure for Life Foundation, were devoted towards media Two rugby league fixtures, Breast Cancer Foundation, planning, management and Manly Warringah Sea Eagles v LBW Trust Foundation, Sydney implementation. The Trust worked Parramatta Eels and Sydney Children’s Hospital Foundation, closely with Cricket Australia, Roosters v St George-Illawarra Cancer Council, The Primary Club, Cricket NSW, the English Cricket Dragons, plus the NSW Waratahs Lord Taverners, Surf Lifesaving Board and electronic media in-bound international match NSW and the Chris O’Neil Trust broadcasters to ensure key against the New Zealand Maori amongst others.

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CORPORATE SERVICES FINANCIAL REPORT

The Trust’s operations for the together with higher event subscription rates were increased, In 2006/07 revenue from rental Stadium, having commenced financial year ended 28 February operating costs, higher staff strong membership retention of annual private suites/corporate operations at the venues in 2007 resulted in a profit related expenses, increased levels reflect the broad range of boxes was $4.6 million compared November 2000. The catering of $5.5 million, compared to administrative expenses services and events available to to $3.5 million received in the contract extends to 2010. $4.7 million in the previous year. (including purchase of Members both Gold and SCG Members. previous year. Marketing of The operating surplus was seating at the SCG and Telstra available suites/boxes on a The Trust’s net share of transferred to retained earnings Stadium), ground operation and Membership Sales daily and seasonal basis, and catering sales (including which stood at $120.2 million maintenance and depreciation. sale of allocated premium public amortised contract premiums) Membership sales generated in as at 28 February 2007. seating for major events, together at the SCG and Aussie Stadium The Trust’s successful financial 2006/07 were strong and reflect generated revenue of $8.6 million was $4.1 million (food) and market confidence in the Trust’s Operating Income performance during 2006/07 was compared to $5.2 million $3.8 million (liquor), compared ongoing fixture program and received in 2005/06. to $3.8 million and $3.6 million and Expenditure achieved through the following areas of operation: amenities. Sales of new Gold respectively in the previous year. membership generated $4 million, The profit achieved in 2006/07 Advertising & compared to $3.8 million in was better than budget, the Trust Income from Sponsorship Sales Investment Management the previous year. continuing to improve its financial Ground Hiring Performance position whilst undertaking an The Trust contracts the sale of extensive Capital Works Program During 2006/07 the SCG and Membership of the SCG continues advertising signage in the form During 2006/07 available surplus and maintaining a low level of Aussie Stadium hosted an extensive to be highly sought after with a of scrolling signage, fence, funds were invested with the capital debt. program of events attracting over limited intake each year of new grandstand and video scoreboard NSW Treasury Corporation 1.5 million patrons. Members from the waiting list. signage at the SCG and Aussie Hourglass facility. The Treasury Joining fees for new SCG Stadium, including product rights Hourglass return for the year The marked increase to operating Income from ground hire was Members generated $552,000 at each facility. ended 28 February 2007 on the revenue for 2006/07, $65.1 million, $9.2 million, compared to compared to $585,000 in 2005/06. Trust’s invested funds represents compared to the previous year $7.2 million in the previous year, Major signage/product rights the rate of 5.96% for that period. $53.2 million (and the corresponding reflecting the staging of additional contracts are current with key increase to operating expenditure Corporate Hospitality major and well attended events. stakeholders including: Cricket Surplus funds were invested – $59.6 million for 2006/07, The Trust holds long-term The Trust markets various forms NSW, Sydney Swans, NSW Rugby, for the short-term only. Interest compared to the previous year, contractual arrangements with of corporate facilities/packages Foster’s Australia, Coca-Cola received on investments totalled $48.5 million) included the flow- major ground hirers to provide available for events at the SCG and Beverages Pty Ltd, Ticketek $488,000 as compared to on effect upon major revenue scheduling of a strong and broad Aussie Stadium, including annual and Moore Sports. $312,000 in the previous year. sources through the staging of based program of events. Sports private suites and corporate boxes, the highly attended International Partners contracts are in place and a comprehensive range of Advertising and sponsorship Cricket Season, the Robbie with Cricket NSW, National Rugby seasonal and casual packages. revenue generated $5.8 million Williams concerts, the Mundine League, NSW Rugby Union, Sydney compared to $5.2 million in the v Green fight, and well attended Roosters, Sydney FC and the The Trust holds contractual previous year. Product rights Sydney FC, Sydney Swans and Sydney Swans. arrangements with Cricket NSW increased sharply from $645,000 NSW Waratahs fixtures. and NSW Rugby for the exclusive in 2005/06 to $2 million in the marketing rights for the sale of current year. The results for the year reflect Members Annual corporate/premium packages for increased event revenues, higher Subscriptions International Cricket and Rugby Catering catering revenue, increased Membership subscriptions Super 14 fixtures. The Trust also membership subscriptions, higher were higher in 2006/07, revenue markets the sale of corporate The Compass Group (trading as Gold membership sales, higher of $10.8 million compared to hospitality for Sydney Swans, All Leisure) holds the exclusive total annual box rentals, increased $9.1 million recorded in the Sydney FC, Rugby League and rights contract for food and liquor advertising sales/product rights, previous year. Whilst membership concert events. catering at the SCG and Aussie

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CORPORATE SERVICES FINANCIAL REPORT CONTINUED

Interest Paid on cost of funds being approximately The Trust undertook various Administration and Due primarily to increased sale The balance of consultants fees Loans/Rating Based 0.04% below its benchmark, which capital works projects during Related Expenses of event corporate/premium incurred was paid by the Trust for represented an annual saving 2006/07 totalling $19.5 million, packages for the International minor consultancies for services Guarantee Fees Administrative and related expenses of $8,834 against the Trust’s including: the NSW Rugby Centre Cricket Season, expenditure provided. These included: The Trust borrowings were incurred during the past year totalled benchmark for the year ended of Excellence ($4.2 million), upon premium/corporate seating IT services, accounting services, extended by $1 million in the $5.8 million compared to $4 million 28 February 2007. Aussie Stadium seating increase ticket charges, catering and probity review, event services past year whilst continuing to in the previous year. The significant ($5.2 million); Aussie Stadium merchandising was $7.2 million, software, engineering services, conduct an extensive Capital increase for the current year Homebush Ticket home dressing room expansion compared to $4.2 million in the planning advice, tender review, Works Program. Interest paid on ($818,000); SCG floodlight reflected a one-off purchase of crisis management plan, sound, Provision previous year. capital debt during the year was upgrade program ($760,000); tickets for Gold Members to football risk management, OH&S, $528,000 compared to $598,000 In accordance with contracted Bradman Stand Level 3 events at Telstra Stadium in the employment matters, building final year of operation of the in the previous year. arrangements following debt renovation ($398,000); Aussie Insurance and other services. scheme, together with expansion retirement upon allotment of Stadium videoscreen ($964,000); of the Members Reserve seating to The Trust’s major insurance risks Other financing charges including Stadium Australia Gold Packages, SCG Ashes projects ($947,000); accommodate demand during the are covered through membership Summary of Land Ratings Guarantee Fees totalled the Trust was required to SCG Hill Grandstand preliminary recent Ashes Series at the SCG. of the Treasury Managed Fund. Vested in the Trust $459,000 ($597,000 in 2005/06) establish a provision account to works ($3.1 million). Administrative expenditure Insurance premiums paid in The Trust was constituted under based upon application of a hold calculated interest savings includes: consulting fees ($654,000 2006/07 were significantly reduced the Sydney Cricket and Sports BB rating (BB+ rating in the generated from the level of debt Event Operating Costs compared to $427,000), telephone to $587,000 compared to $675,000 Ground Act, 1978. It is charged previous year). retired, the provision to be utilised Event costs incurred in the ($262,000 compared to $252,000), in the previous year. with the care, control and for future purchase of tickets to staging of sporting and other publications, printing & stationery management of the lands premium football events at the Debt Management events during the year were ($801,000 compared to $916,000), The Trust insurance placement described in Schedule 2 of Telstra Stadium. The provision Performance $10.2 million compared to insurance costs ($587,000 and coverage is reviewed annually the Act, those lands dedicated has now been exhausted and $8.1 million in the previous year. compared to $675,000) and by Brokers, Chambers Gallop for public recreation. The Trust’s debt portfolio is any future purchases of tickets These are direct costs incurred finance costs including ratings McMahon Pty Ltd. managed by NSW Treasury will be expensed through the Corporation. Over the financial for all sporting and other events fees, debt management fees Major Assets – Property, Income Statement. ($459,000 compared to $597,000). year cash rates moved modestly staged at Trust grounds including Consultants Plant & Equipment higher by 0.75%, to 6.25%. Long- the International Cricket season, The Trust’s major assets other term interest rates remained Ground Operation the Robbie Williams concerts and Marketing/Corporate Consultants were appointed the Mundine v Green fight, together than land holdings consist of below the cash rate despite three and Maintenance/ Seating Expenses for a range of projects in 2006/07, with additional obligations to Sports buildings and improvements at cash rate increases, reflecting Capital Works with payments totalling $654,000. Expenditure upon marketing the SCG, Aussie Stadium and Partners through implementation The major consultancies were persistent offshore demand for The Trust utilises a permanent including: advertising, promotion its surrounds. of new hiring contracts. provided by: Javelin Australia, higher yielding AUD securities. trades workforce, service and publications during 2006/07 Public Relations fee – $150,000, Sedate inflationary outcomes contractors and subcontractors was $1.8 million compared to During 2006/07, the Trust received Staff Related Expenses Peter Knowland – Acoustical have pushed out expectations to undertake an annual program $1.7 million in the previous year. an independent valuation by the Consulting and ERM Noise for further interest rate increases of maintenance of grandstands, Staff related expenses incurred State Valuation Office of its vested Management Plan – $51,000, to 2008. The market value of the buildings, plant, grounds and during the past year totalled Marketing expenditure was mainly lands, based on an “as zoned and Trust’s portfolio increased by playing arenas at the SCG and $12.3 million compared to directed to promotion and marketing Moore Sports, Naming Rights used basis,” providing a valuation $826,000 over the financial year Aussie Stadium. $11 million in 2005/06. These of the SCG International Cricket Consultant for Aussie Stadium – of $34 million as at 28 February to be $7.9 million at year end. costs include permanent salaries, Season and other major events, $50,000, Network Systems 2007. The valuation increment Expenditure of $6.8 million upon wages and on-costs (for both a available Gold and SCG membership Network Security – $49,000, recorded since the previous TCorp’s debt management maintenance of grounds and full-time and part-time workforce) places, available private suites, Fitch Australia Credit Rating, valuation of land, $3 million, involved tactical positioning of the buildings was incurred during the incurred in administration of the premium seating for major events, $25,000 Ernst & Young was transferred to the Asset portfolio to reduce interest costs. past year compared to $6.2 million Trust operations and casual event the SCG Tour Experience and Accounting, $24,000. Revaluation Reserve. This resulted in the portfolio’s in the previous year. staff wages and on-costs. corporate function room facilities.

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CORPORATE SERVICES FINANCIAL REPORT CONTINUED

During 2006/07 the Trust received an Asset Revaluation Reserve Depreciation Performance Reviews The Trust’s four main committees an independent valuation by WT remains established. The balance (Grounds and Event Services, Depreciation charged for 2006/07 Newly contracted ratings agency, Partnership, registered quantity of this Reserve as at 28 February Finance, Management and Audit) was $7.3 million compared to Fitch conducted an initial review surveyors, of the replacement cost 2007 stood at $319 million. are responsible for continuous of the Trust’s financial operations of buildings and improvements $5.1 million in the previous year. internal performance review and position as at 28 February 2006. at the SCG and Aussie Stadium. Depreciation, reflecting the of Trust activities. Monthly The value of land, buildings and The subsequent report by Fitch The valuation at replacement revaluation of buildings and management reports are submitted improvements, plant and equipment recommended assignment of a cost was converted to written improvements, is calculated on to these committees for assessment recorded in the Trust financial financial rating of BB (compared down replacement cost by the the value of buildings and plant of operational performance. statements as at 28 February 2007 to BB+ assigned in the previous determination of the remaining using the straight line method stands at $465.2 million. year). The new rating was utilised useful life of each building. The based on the expected useful The Trust also submits financial by NSW Treasury in determining valuation increment recorded life of the assets. reports to the Treasury Commercial the amount of annual ratings since the previous valuation The Trust’s current Industrial Sector Division for review of operating based guarantee fees payable. of buildings and improvements Special Risks insurance policy as performance and financial position $240 million, was transferred to at 28 February 2007 provides a cover as compared to agreed Statement In determining the financial the Asset Revaluation Reserve. on buildings, plant and equipment of Financial Performance targets rating, Fitch reported that the As a result of the revaluations, to the value of $504 million. established annually. Trust’s credit strengths included: • Ownership of an iconic sporting arena the SCG, the traditional Credit Card Use Time for Payment of Accounts home of cricket in Sydney; The use of credit cards issued to • Both SCG and Aussie Stadium Trust executive staff is in accordance Listed below is a schedule of accounts payable performance as at facilities are used year-round, with Premier’s Memoranda and 28 February 2007, 30 November 2006, 31 August 2006, and 31 May 2006. with five key sports associations Treasurer’s Directions. contracted for several years Month Current Less than 30-60 60-90 Over Total at a time (cricket, Australian 30 days days days 90 days $ rules, rugby league, rugby overdue overdue overdue overdue union and soccer); • A history of modest but May 212,590 118,645 -89,889 425,040 22,404 688,790 consistent profitability; % 30.86% 17.23% -13.05% 61.71% 3.25% 100.00% • Strong balance sheet, with low gearing and good August 328,264 157,693 506,346 3,751 80,320 1,076,374 interest coverages. % 30.50% 14.65% 47.04% 0.35% 7.46% 100.00%

November 757,636 845,132 -66,046 200 84,520 1,621,441 % 46.73% 52.12% -4.07% 0.01% 5.21% 100.00%

February 3,035,795 1,102,080 0 -320 13,315 4,150,870 % 73.14% 26.55% 0.00% -0.01% 0.32% 100.00%

A minimal number of complaints were received during the year concerning late payment of invoices, each matter being resolved satisfactorily.

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INFORMATION TECHNOLOGY ORGANISATIONAL CHART

The Trust’s IT Department a project which will deliver A premium SMS service was provides a diverse range of wireless voice phones, wireless developed and introduced during Trust services, delivered in a manner catering devices and mobility the Foundation Cup at Aussie to ensure the best possible solutions for all Trust staff. Stadium in February. At this event outcomes to benefit and improve the SMS service offered patrons A hardware appliance was Grounds & Event Management the day-to-day management the opportunity to message their Audit Committee Finance Committee implemented to perform all Spam, Services Committee Committee of the SCG and Aussie Stadium. choice for ‘Man of the Match’. virus and content filtering for all Core services and duties provided Results were displayed on the two email communications. Jamie Barkley by the IT Department include: videoscreens during the game. Chief Executive Officer • Customer Contact Operations – A major upgrade of the Trust’s A new Disposal Authority Document Help Desk firewall (including hardware and was developed as well as new • Desktop Support Services software) was conducted which policies and procedures for the Bernie Lamerton Craig Meagher Jason Hill Rob McQuade Michael Bangel Shane Fuller • Voice Communications delivered improved security and management of all Trust records. General Manager General Manager General Manager General Manager General Manager General Manager • Data Communications manageability across all data Corporate Marketing & Business Commercial & Properties Major Projects • LAN Administration (Local communications. The integration of the corporate Services Membership Development Operations Area Network) product invoicing module into Handover to Sydney Olympic • Enterprise and corporate the Sun Accounting System Park Authority (SOPA) of Sydney systems implementation was completed. Event Playing Fields Olympic Park Aquatic Centre IT Finance Marketing Hospitality Master Plan and management network was conducted in June A major network infrastructure Management and Gardens • Network infrastructure 2006, at the completion of the upgrade was completed with the implementation and Trust’s tenure as Operator. installation of three new server Information Sponsorship Operations Venue Project management racks and three dedicated Member Events Technology and Advertising Management Management Management • Developing, implementing, The Trust mobile phone fleet was Uninterruptible Power Systems. and maintaining applications migrated to a new service provider. • Network and infrastructure Upgrade of SCG Clive Churchill/ All agreements for photo copiers Member Gold Member Asset security, policy, procedure Brewongle Stand Level seven Security and printers were consolidated into Administration Sales Management and monitoring phone/data cabling. one Print Management Contract • Setting and managing policy for providing a single point of contact for Co-ordination of the installation of protection of the Trust’s physical over 30 telephone and data services Stadium Fitness support, consumables and servicing. Media and PR Catering OH&S and electronic information assets to Aussie Stadium private suites Centre • Records Management Phase one of a program to replace for the Robbie Williams Concert. the Trust’s catering point of sale A diverse range of projects were system was completed which Completion of the design and Venue Services Human managed or undertaken by the Capital Works included evaluation at different development of a membership Office Resources IT Department during the past technologies, designing the new database and ballot process for year including: solution, establishing new cabling the allocation of reserved seating in the International Cricket Season. A new website launched in infrastructure and development Cleaning December 2006 including of a Project Plan. This project will Each of these projects and improved functionality, better deliver 175 Windows based touch initiatives managed by the IT navigation, secure and managed screen terminals to catering Department have improved the content, Members Only pages, outlets within the SCG Members efficiency and effectiveness of Merchandising Image Gallery, RSS Feeds and Reserve and Aussie Stadium Trust operations. The IT Department Calendar plug-ins. A new wireless during 2007, with an additional continues to aspire to provide system was deployed with 130 terminals to be deployed to professional services and to enhanced security and scalability. the SCG public areas and the new perform assigned tasks on The works were phase one of SCG Hill Grandstand in 2008. a cost effective basis.

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TRUSTEES

Mr Rodney M Cavalier, AO Mr Ken W Catchpole, OAM Mr Phillip H Green Mr Alan B Jones, AO Trust Chairman Committees: Grounds and Event Services, Committee: Finance Committee: Grounds and Event Services Committees: Finance, Grounds and Management Bachelor of Commerce (UNSW) Graduate of Queensland and Oxford Universities Event Services, Management Bachelor of Science (Hons) University of Sydney Bachelor of Law (UNSW) Former speech writer and senior advisor to the Bachelor of Arts Consultant Chartered Accountant Prime Minister, Right Hon Malcolm Fraser Former NSW Member of Parliament 1978 – 1988 President: NSW Rugby Union Director: Babcock & Brown Queen’s Birthday Honour – an Officer within the Former NSW Minister for Education 1984 – 1988 Member: Wallaby Hall of Fame Director: Babcock & Brown Infrastructure Order of Australia for his services to the media and Former NSW Minister for Energy & Minister for Member: International Rugby Hall of Fame Director: Babcock & Brown Japan Property Trust sports administration Finance 1984 Former Australian Rugby Captain Director: Everest Babcock & Brown Limited Former Australian Rugby Union Coach Chairman of the Committee for the Patron: Australian Barbarians and Classic Wallabies Director: Babcock & Brown Environmental Former Coach of the Balmain and South Sydney Sesquicentenary of Responsible Government Members-elected Trust representative Infrastructure Limited Rugby League Clubs Director: C E W Bean Foundation Appointed Trustee to 13 July 2010 Director: Babcock & Brown Capital Limited Elected to the Confederation of Australian Director: Sydney Ferries Corporation Director: MTM Entertainment Trust Sports Hall of Fame – 1985 Appointed Trustee to 13 July 2009 Ms Kerry Chikarovski Director: Thakral Group Broadcaster: Radio Station 2GB 873 and Channel 9 Appointed Trustee to 13 July 2009 Awarded Australian Radio Talk Personality of the Year Committee: Finance Mr E (John) Cloney 1990, 1991, 1992, 1993, 1995, 1997, 1998, 1999, 2000, Bachelor of Economics (Syd), LL.B. (Syd) Ms Catherine Harris, AO PSM 2001, 2002, 2003, 2004, 2005 Deputy Chairman Director – Infrastructure Planning Aust Pty Ltd Awarded Australian Radio Best Current Affairs Chairman, Finance Committee Former Minister for Consumer Affairs, Committee: Grounds and Event Services Commentator: 1991, 1992, 1993, 1995, 1996, 1997, Committees: Audit, Finance, Grounds and Industrial Relations, and Women Bachelor of Commerce (UNSW) FAICD 1998, 2000, 2001, 2002, 2003, 2004, 2005 Event Services, Management Former Leader of NSW Parliamentary Liberal Party Chairperson: Harris Farm Markets Pty Ltd Advance Australia Award – Services to the Chairman: QBE Insurance Group Ltd Board Member – Fitness NSW Director: Australia – Japan Foundation Community 1993 Chairman: CREATE Foundation Board Member – Humpty Dumpty Foundation Board Member: National Gallery of Australia Foundation Awarded the Inaugural Sir Roden Cutler Medal Member: ABN AMRO Advisory Council Appointed Trustee to 13 July 2007 Board Member: Museum of Contemporary Art for Services to the Community – 2003 Company Director: ABN AMRO Australia Holdings Ltd Board Member: UNSW Foundation Deputy Chairman: Australian Sports Commission Company Director: Boral Ltd Hon Michael A Cleary, AO Board Member: Notre Dame University Deputy Chairman: NSW Institute of Sport Company Director: Maple-Brown Abbott Limited Appointed Trustee to 13 July 2007 Appointed Trustee to 13 July 2009 Fellow: Australia & New Zealand Institute of Chairman, Grounds and Event Services Committee Insurance & Finance Committee: Grounds and Event Services Mr Geoffrey F Lawson, OAM Fellow: Australian Institute of Management Chairman: Clearmarketing Pty Ltd Foundation Fellow: Australian Institute of Director: NSW Rugby League Committee: Grounds and Event Services Company Directors Trustee: Wentworth Park Trust Bachelor of Optometry Appointed Trustee to 13 July 2007 Former Member of Parliament (Coogee) 1974 – 1991 Vice President: UNSW Sports Association Former Minister for Sport, Recreation, Racing & Tourism Member: University of NSW Council Former Australian representative in athletics, rugby Former International cricketer union and rugby league Former Director: Advertising Standards Board Appointed Trustee to 13 July 2007 Members-elected Trust representative Appointed Trustee to 13 July 2010

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TRUSTEES FINANCIAL INDICATORS CONTINUED

Mr Colin W Love, AM LLB Ms Kaye Schofield Operating Surplus Earnings Before Interest $m $m Committee: Grounds and Event Services Chairperson, Management Committee Legal Practitioner and Sports Promoter Committees: Finance, Management Chairman: Australian Rugby League Limited Bachelor of Arts, Master of Education 6 Chairman: New South Wales Rugby League Limited Executive Director: Kaye Schofield 9 8 Chairman: NRL Partnership Executive Committee & Associates Pty Ltd, Management Consultants 5 7 Chairman: Rugby League International Federation Ltd Director: WaterEd Australia Pty Ltd 4 6

Appointed Trustee to 13 July 2007 Member: NSW TAFE Commission Board 5 3 Appointed Trustee to 13 July 2009 4 Mr John A McCarthy, QC 2 3 2 Mr A F (Tony) Shepherd 1 Committee: Finance 1 Barrister (admitted 1976) Committee: Grounds and Event Services 0 0 Queen’s Counsel (appointed 1988) Bachelor of Commerce 2002/03 2003/04 2004/05 2005/06 2006/07 2002/03 2003/04 2004/05 2005/06 2006/07 Pro Chancellor: University of Sydney Chairman: ConnectEast Group Interest Cover Interest Cover (excl. depr.) Fellow of the Senate of the University of Sydney Chairman: Transfield Services Limited times times and Member of: Director: The Global Foundation • Senate Honorary Awards Committee Appointed Trustee to 13 July 2009 • Senate Sports Liaison Committee (Convenor) • Senate Finance Committee 10 25 Mr Paul H Warren 9 Member: NSW Legal Aid Review Committee 8 20 Committee: Finance Chairman: John Stephen Akhwari Athletics Foundation 7 (“JSAAF”) 2001– Bachelor of Business (Marketing & Accounting) 6 15 Appointed Trustee to 13 July 2009 Chairman: Sydney Metro: Ford Dealers 5 Advertising Fund Ltd 4 10 3 Chief Executive: Peter Warren Group of Companies Mr Roderick H McGeoch, AM LLB 2 5 Director: Ford Dealers Advertising Fund Ltd 1 Budget Chairman, Audit Committee Director: Peter Warren Group of Companies 0 0 2002/03 2003/04 2004/05 2005/06 2006/07 2002/03 2003/04 2004/05 2005/06 2006/07 Committees: Finance, Audit Member: Motor Traders Association Lawyer Member: Board of Management, Actual Chairman: Saatchi and Saatchi Trans Tasman St Vincents Prostate Cancer Centre Advisory Board Appointed Trustee to 13 July 2009 Director: Ramsay Health Care Ltd Director: LIPA Pharmaceuticals Member: Aon Risk Services Limited NSW Board of Advice Director: Frontiers Group International Ltd (UK Listing) Director: Telecom Corporation of New Zealand Limited “TCNZ” Director: Maxwood Pty Ltd Director: McGeoch Holdings Pty Ltd Chairman: Pacific Healthcare Australia Chairman: Sky City Entertainment Group Limited Chairman: Vantage Private Equity Growth Limited Appointed Trustee to 13 July 2007

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44 06/07 ANNUAL REPORT SYDNEY CRICKET & SPORTS GROUND TRUST 45 SCG12873_FinancialsC_24.08.07 15/10/07 1:38 PM Page 46

SYDNEY CRICKET & SPORTS GROUND TRUST SYDNEY CRICKET & SPORTS GROUND TRUST BALANCE SHEET AS AT 28 FEBRUARY 2007 INCOME STATEMENT FOR THE YEAR ENDED 28 FEBRUARY 2007

2007 2007 2006 2007 2007 2006 $’000 $’000 $’000 $’000 $’000 $’000 Notes Consolidated Parent Parent Notes Consolidated Parent Parent ASSETS REVENUE Current Assets Event and Venue Hire Fees 9,247 9,247 7,248 Cash 348 348 1,290 Catering 2a 15,453 15,453 14,596 Receivables 4 13,291 13,291 7,271 Premium Seating 2b 8,592 8,592 5,167 Investments 5 1,344 1,344 2,429 Membership Fees 2c 15,337 15,337 13,431 Inventories 1h 750 750 453 Private/Corporate Box Rental 2d 4,637 4,637 3,510 Total Current Assets 15,733 15,733 11,443 Advertising and Sponsorship 2e 5,837 5,837 5,155 Interest 488 488 312 Non-Current Assets Superannuation Fund Valuation Surplus 4 254 4 7 Receivables 4 597 597 309 Other 2f 5,261 5,261 3,775 Property, Plant and Equipment 1e, 6 465,226 465,226 206,607 Total Non-Current Assets 465,823 465,823 206,916 Total Revenue 65,106 64,856 53,201 Total Assets 481,556 481,556 218,359 EXPENDITURE LIABILITIES Event Operating Costs 3a 10,275 10,275 8,094 Current Liabilities Catering Expenses 3b 7,587 7,587 7,230 Payables 7 28,935 28,935 17,217 Premium/Corporate Seating 3c 7,217 7,217 4,156 Interest Bearing Liabilities 1l, 8 1,440 1,440 1,489 Staff Related Expenses 3d 12,296 12,046 11,034 Employee Provisions 1i, 9 1,681 1,681 1,380 Administration and Related Expenses 3e 5,825 5,825 3,976 Other Provisions 11 – – – Ground Operation and Maintenance 6,771 6,771 6,248 Total Current Liabilities 32,056 32,056 20,086 Membership Redemptions 16 16 (199) Depreciation 1f, 6 7,258 7,258 5,117 Non-Current Liabilities Borrowing Costs 528 528 598 Payables 7 3,727 3,727 2,746 Marketing 1,797 1,797 1,701 Interest Bearing Liabilities 1l, 8 6,494 6,494 5,459 Superannuation Fund Allocation 4 – – 2 Total Non-Current Liabilities 10,221 10,221 8,205 Provisions 9, 11 – – 480 Total Liabilities 42,277 42,277 28,291 Loss on Disposal of Assets 3f 37 37 106

NET ASSETS 439,279 439,279 190,068 Total Expenditure 59,607 59,357 48,543

EQUITY PROFIT FOR THE YEAR 5,499 5,499 4,658 Retained Earnings 120,220 120,220 114,721 Reserves 319,059 319,059 75,347 The accompanying notes form part of these financial statements.

TOTAL EQUITY 439,279 439,279 190,068

The accompanying notes form part of these financial statements.

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SYDNEY CRICKET & SPORTS GROUND TRUST SYDNEY CRICKET & SPORTS GROUND TRUST STATEMENT OF CASH FLOWS FOR THE YEAR ENDED STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 28 FEBRUARY 2007 28 FEBRUARY 2007

2007 2007 2006 Retained Earnings Asset Revaluation Reserve Total Equity $’000 $’000 $’000 2007 2007 2006 2007 2007 2006 2007 2007 2006 Notes Consolidated Parent Parent $’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000 CASH FLOWS FROM OPERATING ACTIVITIES Consol’d Parent Parent Consol’d Parent Parent Consol’d Parent Parent Receipts from Operations 70,895 70,895 62,012 Interest Received 488 488 312 Balance at the Other Receipts 363 363 452 beginning of the Payments for Suppliers and Employees (53,559) (53,559) (54,219) financial year 114,721 114,721 110,063 75,347 75,347 75,347 190,068 190,068 185,410 Borrowing Costs/Interest Paid (437) (437) (619) Other Payments (1,523) (1,523) (2,578) Profit/(Loss) for the year 5,499 5,499 4,658 – – – 5,499 5,499 4,658 NET CASH PROVIDED BY OPERATING ACTIVITIES 17b 16,227 16,227 5,360 Net increase in CASH FLOWS FROM INVESTING ACTIVITIES land and buildings Proceeds from Sale of Plant and Equipment 245 245 235 asset revaluation Payment for Property, Plant and Equipment (19,499) (19,499) (7,137) reserve – – – 243,712 243,712 – 243,712 243,712 –

NET CASH USED IN INVESTING ACTIVITIES (19,254) (19,254) (6,902) Balance at the end of the CASH FLOWS FROM FINANCING ACTIVITIES financial year 120,220 120,220 114,721 319,059 319,059 75,347 439,279 439,279 190,068 Repayment of Borrowings – – (3,000) Proceeds from Borrowings 1,000 1,000 – The accompanying notes form part of these financial statements.

NET CASH USED IN FINANCING ACTIVITIES 1,000 1,000 (3,000)

NET INCREASE/(DECREASE) IN CASH AND CASH EQUIVALENTS (2,027) (2,027) (4,542) Cash and cash equivalents at the Beginning of Period 17a 3,719 3,719 8,261

CASH AND CASH EQUIVALENTS AT END OF PERIOD 17a 1,692 1,692 3,719

The accompanying notes form part of these financial statements.

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SYDNEY CRICKET & SPORTS GROUND TRUST SYDNEY CRICKET & SPORTS GROUND TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2007 28 FEBRUARY 2007

1. SUMMARY OF ACCOUNTING POLICIES (d) Revenue Recognition Revenue is recognised to the extent that it is probable that the economic benefits will flow to the entity and (a) Reporting Entity the revenue can be reliably measured. The following specific recognition criteria must be met before revenue The Trust, as a reporting entity, is a NSW Government Trading Enterprise. is recognised: • Rendering of Services – where control of a right exists to receive consideration upon completion of The consolidated Financial Report for the year ended 28 February 2007 has been authorised for issue by the or a stage of services provided. Trust on 19 June 2007. • Investment income – is recognised as it accrues.

(b) Basis of Preparation (e) Property, Plant and Equipment The Trust’s financial report is a general-purpose financial report, which has been prepared in accordance with: The Trust’s property, plant and equipment have been brought to account at fair value. • Australian Accounting Standards, (which include Australian Equivalents to International Financial Revaluation of these assets is undertaken at intervals not exceeding five (5) years. Reporting Standards (AEIFRS)); See Note 6. • The requirements of the Public Finance and Audit Act 1983 and Regulation; • Australian Accounting Standards Board (AASB) interpretations and other professional pronouncements. (f) Physical Non-Current Assets

These statements have also been prepared under historic cost and accrual accounting conventions (except for Capitalisation land, buildings and improvements which are shown at valuation). All physical non-current assets costing over $5,000 individually and all items under $5,000 which are considered at risk of theft are capitalised and recorded in the Trust’s assets register. Cost is based on the fair value of the consideration given in exchange for assets. The fair value of cash consideration with deferred settlement terms is determined by discounting any amounts payable in the future Depreciation to their present value as at the date of acquisition. Present values are calculated using rates applicable to Property, plant and equipment, other than land, are depreciated at rates based on their expected useful lives similar borrowing arrangements of the Trust. for the Trust, using the straight-line method.

The activities of the Trust concentrate upon its primary role in the care, control and management of the Depreciation rates of each class of depreciable assets are: SCG and Aussie Stadium which are lands dedicated for public recreation. Buildings and Improvements 1.1% – 20% Plant and Equipment 10% – 33.3% The accounting policies adopted in compilation of the financial statements are consistent with those applied in the previous year. (g) Maintenance The cost of day-to-day servicing costs or maintenance are charged as expenses as incurred, except where they Judgements, key assumptions and estimations management as made are disclosed in the relevant notes relate to the replacement of a part or component of an asset, in which case the costs are capitalised and depreciated. to the financial statements. (h) Inventories All amounts are expressed in Australian currency. Inventories have been valued at the lower of cost and net realisable value. Cost is determined on an average cost basis. (c) Statement of Compliance The Trust’s financial report complies with Australian Accounting Standards, which include AEIFRS, some of which contain requirements specific to not-for-profit entities that are inconsistent with IFRS requirements.

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SYDNEY CRICKET & SPORTS GROUND TRUST SYDNEY CRICKET & SPORTS GROUND TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2007 28 FEBRUARY 2007

(i) Employee Benefits (k) Receivables and Payables Provision is made for annual leave and long service leave estimated to be payable to employees as at Accounts receivable, which are generally settled within 30 days are carried at amounts due. Accounts payable 28 February 2007. including accruals not yet billed, are recognised when the Trust becomes obliged to make future payments as a result of purchase of assets or services. Accounts payable are generally settled within 30 days. Liabilities for salaries and wages (including non-monetary benefits) and annual leave are recognised and measured in respect of employees’ services up to the reporting date at nominal amounts based on the (l) Net Fair Values of Financial Assets and Liabilities amounts expected to be paid when the liabilities are settled. Interest bearing liabilities are recorded at current capital value.

Unused non-vesting sick leave does not give rise to a liability, as it is not considered probable that sick leave Net fair values of other financial instruments are determined on the following basis: taken in the future will be greater than the benefits accrued in the future. Benefits for Rostered Days Off Monetary financial assets and liabilities (which are not traded in an organised financial market) (RDOs) have not been accrued, as the Trust policy is not to cash out these balances. • the carrying amounts of trade debtors, trade accounts payable and accruals are recorded on a cost basis; Benefits for long service leave and annual leave have been provided on the basis of emerging entitlements Investments in NSW Treasury Corporation Hour-Glass for recognised service for long service leave, and quantum due at balance date for annual leave. • the value shown is market value, equivalent to cost.

In accordance with the Australian Accounting Standard AASB 119 “Employee Benefits” liabilities arising in (m) Debt Management Strategy respect of salaries and wages, annual leave and any other employee benefits expected to be settled within The NSW Treasury Corporation actively manages the Trust’s portfolio of debt. The Corporation has provided the twelve months of the reporting date are measured at their nominal amounts based on remuneration rate which Trust the facility whereby maturing loans may be rolled over and replaced with new loans whilst maintaining are expected to be paid when the liability is settled. All other employee benefit liabilities are measured at the the original capital value of the portfolio. Borrowings and Advances are shown as current and non-current present value of the estimated future cash outflows to be made in respect of services provided by employees liabilities and include the provision for rollover upon maturity. up to the reporting date. In determining the present value of future cash outflows, the market yield on national government bonds, which have terms to maturity approximating the terms of the related liability are used. (n) Sydney Olympic Park Aquatic and Athletic Centres The provisions for leave entitlements also include the relevant on-costs. The Sydney Olympic Park Authority (SOPA) as the vested owner of the Sydney Olympic Park Aquatic and Athletic Centres, entered into an operator’s agreement with the Trust effective from 1 July 2002. The Trust Superannuation – the Trust as an employer also contributes in respect of the compulsory basic benefit and provided a management advisory role in assisting in operational matters at the Centres through the established superannuation guarantee levy to respective external superannuation funds as required by legislation. Operators Agreement. The agreement ceased in June 2006. The Trust also provided the payroll function for all staff employed at the Centres. Any expenses that were incurred during the past year through payroll, operational Liabilities for superannuation are actuarially determined and contributions made to superannuation funds expenditure and management time have been recouped from SOPA through the Centres’ operational account. are charged against the provision. The Trust’s superannuation prepayment as at 28 February 2007 has been calculated and advised by Pillar Administration. (o) Tax Status The activities of the Trust are exempt from the provisions of the Income Tax Assessment Act and other Federal (j) Insurance Government taxation legislation, with the exception of the requirement to pay fringe benefits tax and GST. The Trust’s insurance activities are conducted through the NSW Treasury Managed Fund Scheme of self insurance for Government agencies. The expense (premium) is determined by the Fund Manager based on past experience.

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SYDNEY CRICKET & SPORTS GROUND TRUST SYDNEY CRICKET & SPORTS GROUND TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2007 28 FEBRUARY 2007

(p) Goods & Services Tax (GST) (d) Private/Corporate Box Rental Revenues, expenses and assets are recognised net of GST, except: 2007 2007 2006 • the amount of GST incurred by the Trust as a purchaser that is not recoverable from the $’000 $’000 $’000 Australian Tax Office (ATO) is recognised as part of the cost of acquisition of an asset or Consolidated Parent Parent as part of an item of expense. • receivables and payables are stated with the amount of GST included. 4,637 4,637 3,510

Cash flows are included in the Cash Flow Statement on a gross basis. The GST components of cash flows Income includes hire/rental of corporate viewing boxes sold on an annual basis providing rights to view arising from investing and financing activities that are recoverable from, or payable to, the ATO are classified matches at the SCG and Aussie Stadium. as operating cash flows. (e) Advertising and Sponsorship 2. REVENUE 5,837 5,837 5,155

(a) Catering Income includes payments under contract with various companies for naming rights and advertisements that Income received from liquor and food trading for events, functions and non-event days is detailed as follows: are displayed on fences, grandstands and video scoreboards at the Sydney Cricket Ground and Aussie Stadium.

Liquor Trading – $11,364,567 ($10,839,986 in 2006). (f) Other The Trust operates through a managing agent for liquor trading in the public, members and corporate Merchandising 407 407 311 areas of the SCG and Aussie Stadium. Income from liquor trading represents gross liquor sales at the Parking Fees 174 174 202 SCG and Aussie Stadium. Tour Fees and Sponsorship 133 133 150 Rentals 987 987 795 Food Trading – $4,088,006 ($3,755,624 in 2006). Contributions from Hirers 822 822 405 Income from food trading comprises a share of gross food sales received by the Trust under the catering Exclusive Product Rights 1,961 1,961 645 contract, together with amortisation of contract premiums received as a licence fee paid in advance. Sundry 777 777 1,267 The Trust’s current catering contract is due to expire on 31 October 2010. The total premium paid under 5,261 5,261 3,775 the contract is being amortised annually over the term of the contract. 3. EXPENDITURE (b) Premium Seating 2007 2007 2006 (a) Event Operating Costs $’000 $’000 $’000 10,275 10,275 8,094 Consolidated Parent Parent These costs are direct expenses incurred in staging of sporting and other events during the year. 8,592 8,592 5,167 (b) Catering Expenses Income includes hire/rental of corporate facilities and corporate seating sold on a daily and seasonal basis Liquor COGS 3,967 3,967 3,763 providing dining/viewing for major events at the SCG and Aussie Stadium. Liquor Management Fee 3,620 3,620 3,467 7,587 7,587 7,230 (c) Membership Fees Gold and SCG Membership Subscriptions 10,769 10,769 9,079 (c) Premium Seating SCG Member Entrance Fees 552 552 585 7,217 7,217 4,156 Gold Member Entrance Fees 4,016 4,016 3,767 15,337 15,337 13,431 These expenses relate to the sale of premium seat packages to corporate customers for major events and include ticket charges, catering, merchandise etc.

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SYDNEY CRICKET & SPORTS GROUND TRUST SYDNEY CRICKET & SPORTS GROUND TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2007 28 FEBRUARY 2007

(d) Staff Related Expenses (f) Loss on Disposal of Property, Plant and Equipment 2007 2007 2006 2007 2007 2006 $’000 $’000 $’000 $’000 $’000 $’000 Consolidated Parent Parent Consolidated Parent Parent

Salaries and Wages 9,261 1,525 9,018 Proceeds from Disposal 245 245 235 Trustees Remuneration 116 116 116 Written down value of assets disposed 282 282 341 Provision for Leave/Gratuity 588 39 488 Loss on disposal of Property, Plant and Equipment 37 37 106 Superannuation 805 37 539 Workers Compensation 124 14 26 4. RECEIVABLES Payroll Tax 633 27 438 Other Staff Related Expenses 769 610 409 As at 28 February 2007, the amount shown as Receivables comprised the following items: Personnel Services – 9,678 – 12,296 12,046 11,034 Current: Prepayments and Accrued Income 2,182 2,182 1,273 Personnel Services Catering Debtors 1,169 1,169 1,232 Salaries and Wages – 7,736 – Sundry Debtors 9,227 9,227 4,412 Provision for Leave/Gratuity – 549 – GST Receivable 548 548 40 Superannuation Expense – 518 – Provision for Doubtful Debts (170) (170) – Workers Compensation – 110 – Futures Contracts 335 335 314 Payroll Tax – 606 – 13,291 13,291 7,271 Other Staff Related Expenses – 159 – – 9,678 – Non-Current: Superannuation Prepayment 561 561 307 (e) Administration and Related Expenses Sundry Debtors 36 36 2 Audit Fees (Audit Office of NSW) 73 73 73 597 597 309 Accounting and Legal Services 181 181 304 Consultant Fees 654 654 427 Superannuation Prepayment Travel 84 84 98 A number of Trust employees are Members of the State Authorities Superannuation Scheme (SASS) and the Postage/Freight 227 227 179 State Authorities Non-Contributory Superannuation Scheme (SANCS). All members are entitled to benefits on Telephone 262 262 252 retirement, disability or death. The superannuation plans are administered by Pillar Administration (formerly Printing and Stationery 801 801 916 the Superannuation Administration Corporation) and provide defined benefits based on years of service and Provision for Doubtful Debts 155 155 (64) final average salary. Employees contribute to the plans at various percentages of their wages and salaries. Bad Debts Written off 1 1 – The Trust also contributes to the plans. Insurance 587 587 675 Members Seating 1,781 1,781 – These schemes are all defined benefit schemes – at least a component of the final benefit is derived from Sundry 560 560 519 a multiple of member salary and years of membership. All the schemes are closed to new members. Finance 459 459 597 5,825 5,825 3,976 Actuarial gains and losses are recognised in profit or loss in the year they occur. The Pooled Fund holds in trust the investments of the closed NSW Public Sector Superannuation Schemes: State Authorities The Audit Office of NSW’s fee for auditing the annual financial report for the year ended 28 February 2007 Superannuation Scheme (SASS) and State Authorities Non-Contributory Superannuation Scheme (SANCS). is $72,500 ($72,500 in 2006). Pillar Administration (Pillar) has advised the level of estimated superannuation surplus at 28 February 2007. The economic assumptions used to calculate the superannuation asset of both defined benefit schemes are those used for Mercer’s 2003 triennial valuation of the schemes listed overleaf.

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SYDNEY CRICKET & SPORTS GROUND TRUST SYDNEY CRICKET & SPORTS GROUND TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2007 28 FEBRUARY 2007

(i) Reconciliation of the assets and liabilities recognised in the Balance Sheet: 2007 2007 2006 SASS SANCS $’000 $’000 $’000 2007 2006 2007 2006 Consolidated Parent Parent $ $ $ $ 5. INVESTMENTS Present Value of Defined Benefit Obligations (1,678,739) (1,501,641) (196,526) (188,485) Fair Value of Plan Assets 2,222,870 1,808,096 213,955 189,495 NSW Treasury Corporation Hour-Glass 1,344 1,344 2,429 Net asset/(liability) at 28 February 2007 to be disclosed in the Balance Sheet 544,131 306,455 17,429 1,010 6. PROPERTY, PLANT AND EQUIPMENT Assets invested in entity or in property occupied by the entity All fund assets are invested by STC Trustee Corporation at arm’s length through independent fund managers. Land at Valuation 34,000 34,000 31,000

Buildings and Improvements (at fair value) 568,660 568,660 186,025 (ii) Movement of the assets and liabilities recognised in the Balance Sheet: Accumulated Depreciation (150,624) (150,624) (15,567) SASS SANCS 418,036 418,036 170,458 2007 2006 2007 2006 $ $ $ $ Plant and Equipment (at fair value) 14,397 14,397 13,519 Accumulated Depreciation (10,194) (10,194) (9,434) Net asset/(liability) at start of year 306,455 298,443 1,010 4,409 4,203 4,203 4,085 Net income/(expense) recognised in the income statement 237,676 8,012 16,419 (3,399) Work in progress 8,987 8,987 1,064 Net asset/(liability) at 28 February 2007 Total Carrying Amount 465,226 465,226 206,607 to be disclosed in the Balance Sheet 544,131 306,455 17,429 1,010 The Trust’s current Industrial Special Risks insurance policy as at 28 February 2007 provides a cover on buildings, plant and equipment to the value of $504 million. (iii) Actual Return on Fund Assets: SASS SANCS 2007 2006 2007 2006 $ $ $ $

Actual return on Fund assets 291,191 266,163 27,601 41,139

(iv) Economic assumptions 28 February 2007 28 February 2006 % % Salary increase rate (excluding promotional increases) 4.0 pa to June 2008; 3.5 pa thereafter 4.0 pa Rate of CPI increase 2.5 2.5 Expected rate of return on assets 7.6 7.3 Discount rate 5.8 5.4

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SYDNEY CRICKET & SPORTS GROUND TRUST SYDNEY CRICKET & SPORTS GROUND TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2007 28 FEBRUARY 2007

6. PROPERTY, PLANT AND EQUIPMENT continued 7. PAYABLES 2007 2007 2006 Reconciliations $’000 $’000 $’000 Plant and Work In Consolidated Parent Parent Land Buildings Equipment Progress Total Current: $’000 $’000 $’000 $’000 $’000 Sundry Creditors and Accruals 12,760 12,760 5,313 Subscriptions Paid in Advance 6,116 6,116 5,412 2007 Rents Paid in Advance 3,417 3,417 3,655 Carrying amount as at 1 March 2006 31,000 170,458 4,085 1,064 206,607 Advertising – Fees in Advance 1,243 1,243 1,172 Net Revaluation Increment 3,000 240,712 – – 243,712 Catering – Licence Fees in Advance 1,050 1,050 818 Additions – – 1,380 21,104 22,484 Other Deferred Income 4,182 4,182 771 Reclassification – 13,181 – (13,181) – Interest Payable 167 167 76 Disposals – – (319) – (319) 28,935 28,935 17,217 Depreciation Expense – (6,315) (943) – (7,258) Non-Current: Carrying amount as at 28 February 2007 34,000 418,036 4,203 8,987 465,226 Catering – Licence Fees in Advance 2,800 2,800 1,467 Rents – Paid in Advance 604 604 756 2006 Advertising Fees in Advance 183 183 265 Carrying amount as at 1 March 2005 31,000 167,043 4,186 2,093 204,322 Other Creditors 140 140 258 Additions – – 1,183 6,560 7,743 3,727 3,727 2,746 Reclassification – 7,589 – (7,589) – Disposals – – (341) – (341) 8. INTEREST BEARING LIABILITIES Depreciation Expense – (4,174) (943) – (5,117) Carrying amount as at 28 February 2006 31,000 170,458 4,085 1,064 206,607 Current: NSW Treasury Corporation Loans 1,440 1,440 1,489 1,440 1,440 1,489 Valuation of Land, Buildings and Improvements Non-Current: During 2006/07, the Trust received an independent valuation by the State Valuation Office of its vested lands, based NSW Treasury Corporation Loans 6,494 6,494 5,459 on an “as zoned and used basis,” providing a valuation of $34 million as at 28 February 2007. The valuation increment 6,494 6,494 5,459 recorded since the previous valuation of land, $3 million, has been transferred to the Asset Revaluation Reserve. Total 7,934 7,934 6,948 During 2006/07 the Trust received an independent valuation by WT Partnership, registered quantity surveyors, of the replacement cost of buildings and improvements at the SCG and Aussie Stadium. The valuation at replacement cost was converted to written down replacement cost by the determination of the remaining Significant Terms & Conditions: useful life of each building. The valuation increment recorded since the previous valuation of buildings and NSW Treasury Corporation (Bullet) Loans are based upon installment payments of interest only and repayment improvements $240.7 million, has been transferred to the Asset Revaluation Reserve. or rollover of principal at maturity. All borrowings are secured by Government Guarantee.

As a result of the revaluations, an Asset Revaluation Reserve remains established. The balance of this Reserve Capital Debt Repayment Schedule: as at 28 February 2007 stood at $319 million. The following is a schedule of principal repayments due in respect of Treasury Corporation Loans:

a. < 1 year 1,440 1,440 1,489 b. > 1 < 5 years 3,009 3,009 3,032 c. > 5 years 3,485 3,485 2,427 7,934 7,934 6,948

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SYDNEY CRICKET & SPORTS GROUND TRUST SYDNEY CRICKET & SPORTS GROUND TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2007 28 FEBRUARY 2007

9. EMPLOYEE PROVISIONS 10. EMPLOYEE BENEFITS 2007 2007 2006 $’000 $’000 $’000 Liability Consolidated Parent Parent The aggregate employee benefit liability recognised and included in the financial statements is as follows: Employee Entitlements 2007 2007 2006 Current: $’000 $’000 $’000 Provision for Annual Leave and on-costs Consolidated Parent Parent Balance at beginning of year 780 – 808 Provision for the year 668 – 498 Accrued Salaries and Wages 74 74 36 Less: Leave Taken (418) – (526) Balance owing to the Division – 1,030 – Provision for Employee Benefits: Balance at end of year 1,030 1,030 780 Current (note 9) 1,681 1,681 1,380 Non-Current (note 9) – – – Provision for Long Service Leave and on-costs 1,681 1,681 1,380 Balance at beginning of year 600 – 534 Provision for the year 71 – 85 Total employee benefits liability 1,755 1,755 1,416 Less: Leave Taken (20) – (19) Balance owing to the Division – 651 – 11. OTHER PROVISIONS Balance at end of year 651 651 600 Homebush Ticket Provision Total Employee Entitlements 1,681 1,681 1,380 In accordance with contracted arrangements following debt retirement upon allotment of Stadium Australia Gold Packages, the Trust was required to establish a provision account to hold calculated interest savings generated from the level of debt retired, the provision to be utilised for future purchase of tickets to premium football events at the Homebush Olympic Stadium. The provision has now been exhausted and any future purchases of tickets will be expensed through the Income Statement.

Opening Balance – – 700 Add: Allocation to Provision – – 480 Less: Ticket Purchases – – (1,180) Closing Balance – – –

12. CAPITAL AND OTHER EXPENDITURE COMMITMENTS

Capital Commitments: Total capital expenditure contracted as at 28 February 2007 but not provided for in the accounts: – Not later than 1 year 57,253 57,253 8,223 – Later than 1 year but not later than 5 years 40,150 40,150 – Total 97,403 97,403 8,223

Other Expenditure Commitments: Total other expenditure contracted as at 28 February 2007 but not provided for in the accounts: – Not later than 1 year 233 233 181 – Later than 1 year but not later than 5 years – – 165 Total 233 233 346

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SYDNEY CRICKET & SPORTS GROUND TRUST SYDNEY CRICKET & SPORTS GROUND TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2007 28 FEBRUARY 2007

12. CAPITAL AND OTHER EXPENDITURE COMMITMENTS continued 16. FINANCIAL INSTRUMENTS

The total expenditure commitments above include input tax credits of $8.875 million which is expected to be (i) Interest Rate Risk recovered from the Australian Tax Office. The Trust’s exposure to interest rate risk, and the effective interest rates on financial instruments at balance date are: Other commitments not quantified include specific obligations under term contracts with major sporting hirers Fixed Interest Rate Maturities i.e. National Rugby League, NSW Rugby Union, NSW Cricket Association, Sydney Roosters, Sydney FC and the Weighted Sydney Swans. The Trust receives contributions of goods and services from certain sponsors. In return, the Trust Average provides advertising space and/or use of Trust facilities. The Trust does not consider the value of facilities and Effective Floating Non advertising space provided in 2007 to be material. Interest Interest 1 Year 1 to 5 Over 5 Interest Balance Rate Rate or less Years Years Bearing Total Sheet % $’000 $’000 $’000 $’000 $’000 $’000 $’000 13. SEGMENT REPORTING

28 February 2007 The Trust operates primarily in one business segment by maintaining and improving grounds under its control Assets for the purpose of staging of sporting and other entertainment for public amusement. The Trust also operates Cash 348 ––––348348 in one geographical segment being the Sydney metropolitan area. Investments 5.96 1,344 ––––1,344 1,344 Receivables ––––10,221 10,221 13,006 14. TRUSTEES REMUNERATION GST Receivable – 548 – – – 548 548 Futures Contracts 335 ––––335335 The Trust is classified as a Category C Advisory Board thereby enabling the payment of fees to Trust members. Total Financial Assets 2,027 548 – – 10,221 12,796 15,581

Fees totalling $115,607 ($116,295 in 2006) were paid in accordance with rates determined by the Premier’s Liabilities Department to the Trustees during the year ended 28 February 2007. Payables ––––12,760 12,760 32,495 Interest Payable – 167 – – – 167 167 The Trustees have access to the Trust Suite during event days at the SCG and Aussie Stadium. On occasion Borrowings 6.58 – 1,440 3,009 3,485 – 7,934 7,934 expenses for travel by Trustees on Trust business are reimbursed by the Trust. There are no other benefits Total Financial Liabilities – 1,607 3,009 3,485 12,760 20,861 40,596 paid to the Trustees. Net Financial Assets (Liabilities) 2,027 (1,059) (3,009) (3,485) (2,539) (8,065) (25,015)

15. CONTINGENT LIABILITIES 28 February 2006 The Trust is not aware of any significant or material contingent liability in existence at balance date or which Assets has emerged subsequent to balance date (nil in 2006) which would materially impact on the financial position Cash 1,290 ––––1,290 1,290 of the Trust as shown in the Financial Statements. Investments 5.60 2,429 ––––2,429 2,429 Receivables ––––5,644 5,644 7,229 In February 2007 the Trust received planning approval for the SCG Hill Grandstand Development. To facilitate GST Receivable – 40 – – – 40 40 demolition and construction, the Trust has executed a Heads of Agreement with Fox Studios which provides Futures Contracts 314 ––––314314 terms of arrangement for provision of construction access on or over the construction site boundary between Total Financial Assets 4,033 40 – – 5,644 9,717 11,302 the SCG and Fox Studios. Costs associated with the terms of the agreement are yet to be determined. Liabilities Payables ––––5,312 5,312 19,887 Interest Payable – 76 – – – 76 76 Borrowings 6.76 – 1,489 3,032 2,427 – 6,948 6,948 Total Financial Liabilities – 1,565 3,032 2,427 5,312 12,336 26,911 Net Financial Assets (Liabilities) 4,033 (1,525) (3,032) (2,427) 332 (2,619) (15,609)

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SYDNEY CRICKET & SPORTS GROUND TRUST SYDNEY CRICKET & SPORTS GROUND TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2007 28 FEBRUARY 2007

16. FINANCIAL INSTRUMENTS continued 17. CASH FLOW INFORMATION

(ii) Credit Risk (a) Reconciliation of Cash All financial assets are unsecured. For the purpose of the statement of cash flows, cash includes: cash on hand, and in banks, and investments The carrying amounts of financial assets included in the Balance Sheet represent the Trust’s maximum exposure in NSW Treasury Corporation Hour-Glass Facility. Cash at 28 February 2007 as shown in the statement of cash to credit risk in relation to these assets. Where entities have a right of set-off and intend to settle on a net basis, flows is reconciled to the related items in the balance sheet and accompanying notes as follows: this set-off has been reflected in the financial statements in accordance with accounting standards. 2007 2007 2006 (iii) Derivative Financial Instruments $’000 $’000 $’000 Net Exposure Consolidated Parent Parent The market value of the Trusts’ transactions in derivative financial instruments outstanding at 28 February 2007 are as follows: Cash 348 348 1,290 2007 2007 2006 NSW Treasury Corporation Hour-Glass 1,344 1,344 2,429 $’000 $’000 $’000 1,692 1,692 3,719 Consolidated Parent Parent (b) Reconciliation from the net profit after tax to the net cash flows from operations Derivative Financial Instruments Receivable Profit/(Loss) after tax 5,499 5,499 4,658 Futures Contracts 335 335 314 Depreciation 7,258 7,258 5,117 Decrease (Increase) in Superannuation Prepayment – – (5) (iv) Net Fair Values Increase (Decrease) in Debt Transactions (14) (14) 21 Total Carrying Amount Loss (Gain) on Sale of Non-Current Assets 37 37 106 as per Balance Sheet Aggregate Net Fair Values Increase (Decrease) in Creditors 9,751 9,751 (5,983) 2007 2007 2006 2007 2007 2006 Decrease (Increase) in Inventories (297) (297) 50 $’000 $’000 $’000 $’000 $’000 $’000 Decrease (Increase) in Prepayments (909) (909) 2590 Consol’d Parent Parent Consol’d Parent Parent Decrease (Increase) in Receivables (5,399) (5,399) (437) Increase (Decrease) in Provisions 301 301 (757) Financial Liabilities Net Cash Provided by Operating Activities 16,227 16,227 5,360 NSW Treasury Corporation Loans 7,934 7,934 6,948 7,943 7,943 7,100 Firmly committed long-term financing facilities of $100 million ($27.78 million in 2006) were available to the Trust at 28 February 2007. As at that date, $7.934 million ($6.948 million in 2006) of these facilities were in use.

(v) Financial Instruments Credit Facility – Commonwealth Bank $100,000. Credit Standby Arrangements: – The Trust maintains an available standby credit facility through an approved $100,000 bank overdraft arrangement. The Trust has approval from the Treasury to increase this facility up to $500,000.

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SYDNEY CRICKET & SPORTS GROUND TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2007

18. NEW AUSTRALIAN ACCOUNTING STANDARDS ISSUED BUT NOT EFFECTIVE

(i) The Trust did not early adopt any new Accounting Standards that are not yet effective.

(ii) The following new Accounting Standards have not been applied and are not yet effective:

• AASB 7 Financial Instruments: Disclosures (1 January 2007) • AASB 101 Presentation of Financial Statements (1 January 2007) • AASB 1049 Financial Reporting of General Government Sectors by Governments (1 July 2008) • AASB Interpretation 4 Determining whether an Arrangement contains a Lease (revised) (1 January 2008) • AASB Interpretation 7 Applying the Restatement Approach under AASB 129 Financial Reporting in Hyperinflationary Economies (1 March 2006) • AASB Interpretation 8 Scope of AASB 2 (1 May 2006) • AASB Interpretation 9 Reassessment of embedded derivatives (1 June 2006) • AASB Interpretation 10 Interim Financial Reporting and Impairment (1 November 2006) • AASB Interpretation 11 AASB 2 Group and Treasury Share transactions (1 March 2007) • AASB Interpretation 12 Service Concession Arrangements (1 January 2008) • AASB Interpretation 129 Service Concession Arrangements: Disclosure (revised) (1 January 2008)

The Trust has assessed the impact of these new Standards and Interpretations and considers the impact to be insignificant.

END OF AUDITED FINANCIAL STATEMENTS

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SYDNEY CRICKET & SPORTS GROUND TRUST DIVISION BALANCE SHEET AS AT 28 FEBRUARY 2007

2007 Notes $'000

ASSETS Current Assets Receivables 3 1,408 Total Current Assets 1,408

Non-Current Assets Receivables 3 561 Total Non-Current Assets 561 Total Assets 1,969

LIABILITIES Current Liabilities Payables 4 288 Employee Provisions 5 1,681 Total Current Liabilities 1,969 Total Liabilities 1,969

NET ASSETS –

EQUITY Accumulated Funds –

TOTAL EQUITY –

The accompanying notes form part of these financial statements.

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SYDNEY CRICKET & SPORTS GROUND TRUST DIVISION SYDNEY CRICKET & SPORTS GROUND TRUST DIVISION INCOME STATEMENT FOR THE PERIOD STATEMENT OF CASH FLOWS FOR THE PERIOD 17 MARCH 2006 TO 28 FEBRUARY 2007 17 MARCH 2006 TO 28 FEBRUARY 2007

2007 2007 Note $’000 Notes $’000

REVENUE NET CASH PROVIDED BY OPERATING ACTIVITIES – Personnel Services 9,678 NET CASH USED IN INVESTING ACTIVITIES – Total Revenue 9,678 NET CASH USED IN FINANCING ACTIVITIES – EXPENDITURE Salaries, Wages and on-costs 2 9,160 NET INCREASE/(DECREASE) IN CASH AND CASH EQUIVALENTS – Superannuation 518 Cash and cash equivalents at the Beginning of Period – Total Expenditure 9,678 CASH AND CASH EQUIVALENTS AT END OF PERIOD – PROFIT FOR THE PERIOD – The accompanying notes form part of these financial statements.

The accompanying notes form part of these financial statements.

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SYDNEY CRICKET & SPORTS GROUND TRUST DIVISION SYDNEY CRICKET & SPORTS GROUND TRUST DIVISION STATEMENT OF CHANGES IN EQUITY FOR THE PERIOD NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD 17 MARCH 2006 TO 28 FEBRUARY 2007 17 MARCH 2006 TO 28 FEBRUARY 2007

2007 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES $’000 (a) Reporting Entity Opening Equity – The Trust Division, is a Division of the Government service, established pursuant to Part 2 of Schedule 1 to the Public Sector Employment and Management Act 2002. It is a not-for-profit entity as profit is not its principal Profit/(Loss) for the year – objective. It is consolidated as part of the NSW Total State Sector Accounts. It is domiciled in Australia and its principal office is at Moore Park, Paddington, NSW 2021. Balance at the end of the financial year – The Entity’s objective is to provide personnel services to the Trust.

The accompanying notes form part of these financial statements. The Entity commenced operations on 17 March 2006 when it assumed responsibility for the employees and employee-related liabilities of the Trust. The assumed liabilities were recognised on 17 March 2006 together with an offsetting receivable representing the related funding due from the former employer.

The Division’s Financial Report for the period ended 28 February 2007 has been authorised for issue by the Trust on 20 June 2007.

(b) Basis of Preparation This is a general purpose financial report prepared in accordance with the requirements of Australian Accounting Standards, the Public Finance and Audit Act 1983, the Public Finance and Audit Regulation 2005, and specific directions issued by the Treasurer.

This is the first financial report prepared on the basis of Australian equivalents to International Financial Reporting Standards.

Generally, the historical cost basis of accounting has been adopted and the financial report does not take into account changing money values or current valuations. However, certain provisions are measured at fair value.

The accrual basis of accounting has been adopted in the preparation of the financial report, except for cash flow information.

Management’s judgements, key assumptions and estimates are disclosed in the relevant notes to the financial report.

All amounts are rounded to the nearest one thousand dollars and are expressed in Australian currency.

(c) Comparative Information As this is the Entity’s first financial report, comparative information for the previous year is not provided.

(d) Revenue Recognition Revenue is measured at the fair value of the consideration received or receivable. Revenue from the rendering of personnel services is recognised when the service is provided and only to the extent that the associated recoverable expenses are recognised.

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SYDNEY CRICKET & SPORTS GROUND TRUST DIVISION SYDNEY CRICKET & SPORTS GROUND TRUST DIVISION NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD 17 MARCH 2006 TO 28 FEBRUARY 2007 17 MARCH 2006 TO 28 FEBRUARY 2007

(e) Receivables (g) Employee Benefits continued A receivable is recognised when it is probable that the future cash inflows associated with it will be realised In accordance with the Australian Accounting Standard AASB 119 “Employee Benefits” liabilities arising and it has a value that can be measured reliably. It is derecognised when the contractual or other rights to in respect of wages and salaries, annual leave and any other employee benefits expected to be settled within future cash flows from it expire or are transferred. twelve months of the reporting date are measured at their nominal amounts based on remuneration rate which are expected to be paid when the liability is settled. All other employee benefit liabilities are measured at the A receivable is measured initially at fair value and subsequently at amortised cost using the effective interest present value of the estimated future cash outflows to be made in respect of services provided by employees rate method, less any allowance for doubtful debts. A short-term receivable with no stated interest rate is up to the reporting date. In determining the present value of future cash outflows, the market yield on national measured at the original invoice amount where the effect of discounting is immaterial. An invoiced receivable government bonds, which have terms to maturity approximating the terms of the related liability are used. is due for settlement within thirty days of invoicing. The provisions for leave entitlements also include the relevant on-costs.

If there is objective evidence at year-end that a receivable may not be collectable, its carrying amount is Superannuation – the Trust as an employer also contributes in respect of the compulsory basic benefit and reduced by means of an allowance for doubtful debts and the resulting loss is recognised in the income superannuation guarantee levy to respective external superannuation funds as required by legislation. statement. Receivables are monitored during the year and bad debts are written off against the allowance when they are determined to be irrecoverable. Any other loss or gain arising when a receivable is derecognised Liabilities for superannuation are actuarially determined and contributions made to superannuation funds is also recognised in the income statement. are charged against the provision. The Trust’s superannuation prepayment as at 28 February 2007 has been calculated and advised by Pillar Administration. (f) Payables Payables include accrued wages, salaries, and related on-costs (such as payroll tax, fringe benefits tax and 2. EMPLOYEE EXPENDITURE workers’ compensation insurance) where there is certainty as to the amount and timing of settlement. 2007 $’000 A payable is recognised when a present obligation arises under a contract or otherwise. It is derecognised when the obligation expires or is discharged, cancelled or substituted. Salaries & Wages 7,736 Annual Leave/Long Service Leave 549 A short-term payable with no stated interest rate is measured at historical cost if the effect of discounting Payroll Tax 606 is immaterial. Workers Compensation Insurance 110 Other 159 (g) Employee Benefits 9,160 Provision is made for annual leave and long service leave estimated to be payable to employees as at 28 February 2007. 3. RECEIVABLES

Liabilities for salaries and wages (including non-monetary benefits) and annual leave are recognised and Current measured in respect of employees’ services up to the reporting date at nominal amounts based on the Parent Entity – the Trust 1,408 amounts expected to be paid when the liabilities are settled. 1,408

Unused non-vesting sick leave does not give rise to a liability, as it is not considered probable that sick leave Non-Current taken in the future will be greater than the benefits accrued in the future. Benefits for Rostered Days Off Superannuation Prepayment 561 (RDOs) have not been accrued, as the Trust policy is not to cash out these balances. 561

Benefits for long service leave and annual leave have been provided on the basis of emerging entitlements for recognised service for long service leave, and quantum due at balance date for annual leave.

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SYDNEY CRICKET & SPORTS GROUND TRUST DIVISION SYDNEY CRICKET & SPORTS GROUND TRUST DIVISION NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD 17 MARCH 2006 TO 28 FEBRUARY 2007 17 MARCH 2006 TO 28 FEBRUARY 2007

Superannuation Prepayment (ii) Movement of the assets and liabilities recognised in the Balance Sheet: A number of Trust employees are Members of the State Authorities Superannuation Scheme (SASS) and the SASS SANCS State Authorities Non-Contributory Superannuation Scheme (SANCS). All Members are entitled to benefits on 2007 2007 retirement, disability or death. The superannuation plans are administered by Pillar Administration (formerly $$ the Superannuation Administration Corporation) and provide defined benefits based on years of service and final average salary. Employees contribute to the plans at various percentages of their wages and salaries. Net asset/(liability) at start of year 309,719 1,500 The Trust also contributes to the plans. Net income/(expense) recognised in the income statement 234,412 15,929 These schemes are all defined benefit schemes – at least a component of the final benefit is derived from Net asset/(liability) at 28 February 2007 a multiple of member salary and years of membership. All the Schemes are closed to new members. to be disclosed in the Balance Sheet 544,131 17,429

Actuarial gains and losses are recognised in profit or loss in the year they occur. The Pooled Fund holds (iii) Actual Return on Fund Assets: in trust the investments of the closed NSW Public Sector Superannuation Schemes: State Authorities SASS SANCS Superannuation Scheme (SASS) and State Authorities Non-Contributory Superannuation Scheme (SANCS). 2007 2007 $$ Pillar Administration (Pillar) has advised the level of estimated superannuation surplus at 28 February 2007. The economic assumptions used to calculate the superannuation asset of both defined benefit schemes are Actual return on Fund assets 291,191 27,601 those used for Mercer’s 2003 triennial valuation of the schemes listed below. (iv) Economic assumptions (i) Reconciliation of the assets and liabilities recognised in the Balance Sheet: 28 February 2007 SASS SANCS % 2007 2007 Salary increase rate $$ (excluding promotional increases) 4.0 pa to June 2008; 3.5 pa thereafter Present Value of Defined Benefit Obligations (1,678,739) (196,526) Rate of CPI increase 2.5 Fair Value of Plan Assets 2,222,870 213,955 Expected rate of return on assets 7.6 Net asset/(liability) at 28 February 2007 Discount rate 5.8 to be disclosed in the Balance Sheet 544,131 17,429

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SYDNEY CRICKET & SPORTS GROUND TRUST DIVISION SYDNEY CRICKET & SPORTS GROUND TRUST DIVISION NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD 17 MARCH 2006 TO 28 FEBRUARY 2007 17 MARCH 2006 TO 28 FEBRUARY 2007

4. PAYABLES 7. FINANCIAL INSTRUMENTS 2007 $’000 (i) Interest Rate Risk The Trust’s exposure to interest rate risk, and the effective interest rates on financial instruments at balance Current date are: Accrued salaries, wages and on-costs 288 Fixed Interest Rate Maturities Weighted 288 Average Effective Floating Non 5. PROVISIONS Interest Interest 1 Year 1 to 5 Over 5 Interest Balance Rate Rate or less Years Years Bearing Total Sheet Current % $’000 $’000 $’000 $’000 $’000 $’000 $’000 Annual Leave 1,030 28 February 2007 Long Service Leave 651 Assets Receivables ––––1,408 1,408 1,408 Total Employee Related Provisions 1,681 Total Financial Assets ––––1,408 1,408 1,408 6. EMPLOYEE BENEFITS Liabilities Liability Payables ––––288288288 Total Financial Liabilities ––––288288288 The aggregate employee benefit liability recognised and included in the financial statements is as follows: Net Financial Assets (Liabilities) ––––1,120 1,120 1,120 Accrued salaries and wages 74 (ii) Credit Risk Provision for employee benefits: All financial assets are unsecured. Current (note 5) 1,681 The carrying amounts of financial assets included in the Balance Sheet represent the Trust Division’s Non-Current – maximum exposure to credit risk in relation to these assets. Where entities have a right of set-off and 1,681 intend to settle on a net basis, this set-off has been reflected in the financial statements in accordance with accounting standards. Total employee benefits liability 1,755

(iii) Derivative Financial Instruments The Trust Division holds no Derivative Financial Instruments.

(iv) Net Fair Values Financial Instruments are carried at cost. The resultant values are reported in the Balance Sheet and are deemed to constitute net fair values.

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SYDNEY CRICKET & SPORTS GROUND TRUST DIVISION INITIAL BUDGET OF INCOME AND EXPENDITURE NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD FOR THE YEAR ENDED 28 FEBRUARY 2007 AND OUTLINE 17 MARCH 2006 TO 28 FEBRUARY 2007 BUDGET FOR THE YEAR ENDING 29 FEBRUARY 2008

8. NEW AUSTRALIAN ACCOUNTING STANDARDS ISSUED BUT NOT EFFECTIVE Budget Actual Budget 2006/07 2006/07 2007/08 (i) The Trust did not early adopt any new Accounting Standards that are not yet effective. $’000 $’000 $’000

(ii) The following new Accounting Standards have not been applied and are not yet effective: REVENUE

• AASB 7 Financial Instruments: Disclosures (1 January 2007) Event and Venue Hire Fees 6,637 9,247 6,133 • AASB 101 Presentation of Financial Statements (1 January 2007) Catering 14,959 15,453 13,699 • AASB 1049 Financial Reporting of General Government Sectors by Governments (1 July 2008) Premium Seating 5,734 8,592 5,779 • AASB Interpretation 4 Determining whether an Arrangement contains a Lease (revised) (1 January 2008) Membership Fees 13,239 15,337 14,840 • AASB Interpretation 7 Applying the Restatement Approach under AASB 129 Financial Reporting in Private/Corporate Box Rental 3,882 4,637 4,075 Hyperinflationary Economies (1 March 2006) Advertising and Sponsorship 5,646 5,837 4,976 • AASB Interpretation 8 Scope of AASB 2 (1 May 2006) Interest 220 488 120 • AASB Interpretation 9 Reassessment of embedded derivatives (1 June 2006) Superannuation Fund Valuation Surplus – 254 – • AASB Interpretation 10 Interim Financial Reporting and Impairment (1 November 2006) Other 6,835 5,261 10,393 • AASB Interpretation 11 AASB 2 Group and Treasury Share transactions (1 March 2007) • AASB Interpretation 12 Service Concession Arrangements (1 January 2008) Total Revenue 57,152 65,106 60,015 • AASB Interpretation 129 Service Concession Arrangements: Disclosure (revised) (1 January 2008) EXPENDITURE The Trust has assessed the impact of these new Standards and Interpretations and considers the impact to be insignificant. Event Operating Costs 9,064 10,275 9,951 Catering Expenses 7,534 7,587 6,880 Premium Seating 5,469 7,217 3,901 Staff Related Expenses 11,657 12,296 12,554 Administration and Related Expenses 4,318 5,825 5,486 END OF AUDITED FINANCIAL STATEMENTS Ground Operation and Maintenance 5,895 6,771 6,612 Membership Redemptions – 16 – Depreciation 5,289 7,258 5,800 Borrowing Costs 605 528 2,342 Marketing 2,075 1,797 1,617 Superannuation Fund Allocation – – – Provisions 1,355 – – Loss on Disposal of Assets 25 37 50

Total Expenditure 53,286 59,607 55,193

PROFIT/(LOSS) 3,866 5,499 4,822

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ETHNIC AFFAIRS PRIORITIES STATEMENT

The Trust’s Ethnic Strategy 1: Strategy 6: Affairs Priorities Customer Service Training Community Education Initiatives Statement (EAPS) has Provide customer service training for staff that Reach out to all cultures in the community to offers strategies for effective communication with educate them about the history and operation been prepared to comply people who are unable to speak fluent English. of the SCG and Aussie Stadium. with the Ethnic Affairs policy requirements of Strategy 2: In the 12-month period of this report, the Trust has shown particular consideration the NSW Government. Utilise Language Skills of Staff of multicultural issues: Assess and manage the language skills of staff such that they can be used for the benefit The NSW Government’s principles • New venue signage – symbols have been of patrons who have difficulty with English. of multiculturalism are included incorporated as much as possible in production in the Community Relations of new signs for the SCG and Aussie Stadium. Commissionof Multiculturalism and Principles Act 2000 Strategy 3: • SCG Tour Experience – thousands of schools . Use of Symbols on Venue Directories and community groups participated in venue Create venue directories for patrons in forms tours of the SCG and Aussie Stadium. The Trust is committed to the that make maximum use of internationally • Updating of the venue information maps to include principles of multiculturalism, and recognised symbols in place of words. more recognisable symbols to facilities and spaces reviews its practices in terms of leadership, community harmony, within Aussie Stadium. cultural diversity, access, equity Strategy 4: • Staff training – Emergency Evacuation Exercise at the SCG (December 2006). and economic opportunity. Broader Range of Catering Cuisine • Specific customer service training for all Event Maximise the range of catering cuisine staff in the lead up to the Ashes Test Match. The Trust’s objective is to available in the venues. improve the multicultural service capacity of the Trust’s venues. In the next 12-month period the Trust will This is being achieved through Strategy 5: continue to show consideration of multiculturalism the following strategies: Observance of Religious Festivals in all aspects of its business, with emphasis on Respect and support any special individual good training for staff so they will act in accordance requirements during religious festivals. with the Trust’s multicultural strategies.

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CODE OF CONDUCT

In accordance with the NSW Public Personal and Acceptance of Gifts Public Comment Use of Trust Facilities Confidentiality of Sector Code of Conduct the Trust Professional Behaviour or Benefits and the Use of Official and Equipment Personal Information has formalised a suitable Code of Information Staff, in performance of their No staff member should accept When using Trust resources staff Staff are entitled to confidentiality Conduct for its employees at the duties, should act professionally a gift or benefit which could be Staff, as Members of the should do so with efficiency and and privacy with respect to SCG and Aussie Stadium, and its community, have the right to make economy. Trust property and information which is personal to contracted activities. The Code and conscientiously and – acknowledged as an inducement public comment either verbally or services should not be treated them. Staff have a duty to maintain of Conduct sets standards of • Provide all necessary assistance to the staff member to deviate in writing on political or social with abuse by staff or others. the confidentiality, integrity and behaviour expected by Trust and deal courteously with from the proper course of duty. issues, however there are some Only when official permission security of such information to management and staff and is a Members, the general public cases where these comments has been obtained may staff use which they have access in the guide to dealing with ethical issues. and corporate clients. Token gifts may only be accepted • Keep up-to-date with areas in circumstances approved by the may be inappropriate. the Trust’s equipment or facilities normal course of their duties. for other purposes. The Code of Conduct requires staff of their expertise by reviewing Chief Executive Officer where there This would arise where comments to behave with integrity, honesty, circulated information and is no possibility of the recipient staff Disclosure of Information made could be perceived in some way loyalty to the public interest, fairness, through ongoing training. member being compromised. Political Participation as an official comment of the Trust The Trust is entitled to the • Comply with government conscientiousness and compassion. or government or may be sufficiently Staff need to ensure that their protection and integrity of policy, legislative, industrial or All gifts must be recorded strong to be seen as criticism of participation in political matters the information it holds. Staff administrative requirements. in the Trust’s gift register. Staff are advised that they Trust or government policies. does not bring them into conflict should only release information should be familiar with their • Ensure they do not harass or with their duties with the Trust or that they are authorised to release discriminate in their work responsibilities in their employment Fairness and Equity Staff should therefore refrain from the government of the day. In the in the course of their duties. Staff practices in dealing with fellow positions and that breach of public comments which disclose workplace they should maintain should not release information staff or members of the public. In dealing with issues or cases standards and obligations may information not normally provided political neutrality in carrying in a manner which is misleading • Report to a supervisor staff are obligated to treat each involve criminal offence, breach to the general public. Comments out their duties. or which is likely to be misused. any unethical behaviour matter promptly, consistently of discipline or dismissal. made should be confined to factual To protect the integrity of official and fairly, in accordance with or wrong doing. information and not express an Trust information, any Trust approved procedures and without Corrupt Conduct opinion on Trust policy or practice. information released by staff Principles discrimination on any grounds. Conflicts of Interest Staff should immediately report will not have attached to it any The public have the right to expect to their Supervisor any corrupt expression of opinion on official to be treated fairly, reasonably and Staff should avoid any financial practice, theft or unethical act Trust policy or practice. equitably by the Trust and its staff. or other undertaking that could observed in the workplace. Any The government expects Trust staff directly or indirectly compromise perceived security or safety issue to implement government and Trust the performance of their duties. of risk to the staff member, the policies effectively and efficiently. The responsibility is on each Trust or others should be reported. Staff have the normal rights of member of staff to notify a senior employees under common law officer if a potential or actual and within relevant legislation. conflict of interest arises.

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CODE OF CONDUCT COMPLAINTS HANDLING/PRIVACY POLICY CONTINUED

Protected Disclosures Outside Employment Misconduct Policy Complaints Handling complaint or where the customer Website Usage Information has been the recipient of obviously When you access the Trust website, The Protected Disclosures Act of 1994 Approval of the appropriate Failure to abide by the Trust’s code Trust permanent and casual staff, poor service. our internet service provider (ISP) provides for avenues by which staff General Manager is required of conduct will result in disciplinary as part of their training, specifically logs the following information for can make protected disclosures. To before staff may engage in any action ranging from a warning learn of procedures for handling of standard statistical analysis: be protected by the Act, a disclosure form of paid employment outside (verbal or written) to termination, complaints over the telephone or Privacy Policy • The server address of the ISP. must be made to an investigating their official duties. In all cases depending on the nature of the in person. The Trust understands that privacy • The date and time of the visit. authority, the Chief Executive Officer when outside employment is offence. This issue is addressed is very important and that all Trust • The pages accessed. or the General Manager, Corporate considered, staff should give separately in the Trust’s Staff are advised of the five key user groups (staff, Members, Sports • The type of browser being used. Services in accordance with the the Trust first consideration. Misconduct Policy. steps in responding to complaints. Partners, media etc) have the right • The statistics package provided internal reporting system established • Listen and be open-minded: to control their personal information. by our ISP collates the data into under Internal Reporting Policy, staff are advised to show that the Equal Employment Acceptable Use information and graphs for use in Protected Disclosures Act 1994. complaint is being taken seriously. The Trust undertakes to act with Opportunity/Sexual of the Internet and understanding the usage patterns • Respond with concern: integrity at all times when dealing Harassment Policy Electronic Mail of visitors to the website. Dress Standard/Uniforms Statement staff should show empathy with information entrusted to this Staff, in the performance of their and demonstrate their organisation. The statistics package does not Where the Trust policy encourages The Trust has adopted the Sexual duties, will have cause to utilise the understanding of the complaint. identify any individual user during the wearing of a standard of dress, Harassment Policy whereby it will computer equipped work stations • Determine an action based on Personal Details this process. uniform, protective clothing or not tolerate sexual harassment and and the services accessible to them. authority: staff should refer to Home addresses, e-mail addresses, identification for reason of public is committed to equal opportunity Services include the internet and established policy and procedures telephone numbers, fax numbers Cookies image or safety requirements, and the assurance that employment electronic mail. The acceptable use to determine an appropriate and other details submitted to the The Trust website use cookies. staff will be required to meet policies and practices are based of these services is addressed in action; staff should seek the Trust are treated with the utmost for Acceptable Use of the Internet Cookies are small text files that are the appropriate directions. on the principle of merit. a separate standard, Standards assistance of more senior privacy. The Trust will not make and Electronic Mail automatically placed on a user’s personnel should additional any information available to any computer. Cookies themselves Video Surveillance Occupational Health . confirmation be required. external party without the consent and Safety • Take action promptly: staff of the person/s concerned unless: do not personally identify users, All Trust personnel movements Use of Trust Records are to seek assistance if too • required by law; although they do contain a unique upon entering Aussie Stadium or The Trust will provide healthy and busy; staff should take • we believe it necessary to identifier which allows the website Sydney Cricket Ground premises safe workplaces. It will take all Staff are required to comply responsibility to immediately provide the person/s with to customise content based on will be subject to monitoring by practicable actions to identify, with the Trust policy on records address the complaint and to a service requested; a user’s previous selections, type closed circuit television. This is evaluate and control those factors management, which has been prompt the action determined. • to implement our terms of use; of browser or type of computer. a provision of the procedures in the workplace which cause, or established to meet requirements Records Act 1998. • Follow up: staff should • to protect the rights or property and risk management strategies have the potential to cause, injury and regulations of the NSW State determine that the complainant of the Trust, any Trust user, E-Commerce Transactions operating within the workplace. or ill health. is satisfied that the action taken or any member of the public; Users should be aware that there was prompt, fairly determined, • to lessen a serious threat to are inherent risks in transmitting within policy guidelines or subject a person’s health or safety. information across the internet. to review by a more senior officer. The Trust will comply with Information submitted when Staff are advised that they should any request from individuals to engaging in an online transaction express regret to the complainant remove information about them, with the Trust is passed through where the Trust has been unable unless the information is required a registered secure server. to fulfil a commitment made to to fulfill an existing service The registered secure server the customer; where the customer obligation to them. You can contact used by the Trust makes use claims the organisation has made our privacy officer by e-mail on of all available protective a mistake; if the customer has [email protected] or by processes for the security made an evidently justifiable telephone on (02) 9360 6601. of e-commerce information.

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FREEDOM OF INFORMATION TRUST CHARTER AND CONSTITUTION

InAct NSW, 1989 the Freedom of Information There have been no requests Charter:& Sports Sydney Ground Cricket Act, Constitution of the Trust Trust Values provides the right to: for information under Freedom 1978 No. 72. Under Section 5(2), the Trust The Trust is guided by a strong • access information held as of Information provisions during shall have and may exercise and commitment to six core values. records by State Government the year to 28 February 2007. The Trust was constituted under Agencies, a Government perform the functions conferred of Information Act 1989 this Act and is charged with the 1. Knowing and celebrating Minister, local government In accordance with the Freedom or imposed on it by or under the care, control and management our history and preserving the and other public bodies; , members Act and shall in the exercise or of the scheduled lands dedicated best traditions of sport and • request amendments to of the public may seek information performance of its functions, for public recreation. our grounds. records of a personal nature or enquire in person, by mail or be subject to the control and 2. Following high ethical standards, that are inaccurate; and by telephone, as follows: direction of the Minister for The Trust may allow the scheduled fairness and integrity. • appeal against a decision not Sport and Recreation. lands or any part thereof to be used 3. Maintaining a close and to grant access to information by persons, clubs, associations, positive relationship with our or to amend personal records. The Trust consists of 15 members, leagues or unions at such times 13 appointed by the Governor and Members, Sports Partners, and on such terms and conditions two elected by Gold and SCG the government and the as the Trust may think fit and proper Members. Each Trustee is wider sporting community. Location: Trust Office, Gold Members Car Park, Driver Avenue, for cricket, football, athletics, public appointed for a term of up 4. Innovation that delivers strong Moore Park NSW 2021 amusement or any other purpose to four years. commercial outcomes. Postal Address: GPO Box 150, Sydney NSW 2001 which the Minister may approve. 5. Resourceful and disciplined Hours of Access: 9.00am to 5.00pm, Monday to Friday Our Vision management in order to secure Telephone: (02) 9360 6601 The Trust may carry out works for continued financial viability for Facsimile: (02) 9360 1319 the improvement, development and “The Trust will be the finest the Trust. FOI Officer: Mr Bernie Lamerton, General Manager – Corporate Services maintenance of the Trust lands venue, membership and event 6. Valuing and developing our staff including the redesigning of areas, management organisation and ensuring a happy, safe and the construction of any building or in Australia.” productive workplace. Fees and charges are as follows: structure on the Trust lands, and Nature of Application Application Fee Processing Charge provision of stands and other accommodation for spectators Access to records by persons $30 $30/hour after first 20 hours* frequenting the Trust lands. about their personal affairs All other requests $30* $30/hour Internal review $40** NIL Amendment of records NIL*** NIL

* Subject to 50% reduction for financial hardship and public interest reasons. ** No application fees may be charged for internal reviews in relation to amendment of records. *** Refunds may apply as a result of successful internal reviews and applications for amendment of records.

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TRUST MEETINGS INDEX

During the period 1 March 2006 to 28 February 2007, attendances by Trustees at the Grounds and Event Services Audited Financial Statement and Notes ...... 46 Committee, Finance Committee, Management Committee, Audit Committee and Trust meetings are set out below. Business Development ...... 28 The number of meetings held were: 4 Grounds and Event Services Committee, 4 Finance Committee, 2 Management Committee, 1 Audit Committee and 11 Trust meetings. Chairman’s Report ...... 2 Code of Conduct ...... 86 Grounds & Trustee Event Services Finance Management Audit Commercial and Operations ...... 24 Attendance Committee Committee Committee Committee Trust Complaints Handling/Privacy Policy ...... 89 Mr R M Cavalier, AO 3 1 1 11 Corporate Services/Financial Report ...... 32 Mr E J Cloney 2 3 2 7 Ethnic Affairs Priorities Statement ...... 84 Mr K W Catchpole, OAM 4 1 10 Financial Indicators ...... 43 Ms K Chikarovski 3 10 Freedom of Information ...... 90 Hon M A Cleary, AO 4 9 Independent Audit Report ...... 44 Mr P Green 1 6 Information Technology ...... 38 Ms C Harris, AO PSM 3 9 Managing the Assets ...... 18 Mr A B Jones, AO 6 Managing the Events ...... 6 Mr G F Lawson, OAM 2 9 Marketing and Membership ...... 26 Mr C W Love, AM LLB 3 11 Minister’s Foreword ...... 1 Mr J A McCarthy, QC 4 11 Organisational Chart ...... 39 Mr R H McGeoch, AM LLB 4 1 7 Statement by Members of the Trust ...... 45 Ms K Schofield 3 2 8 Trust Charter and Constitution ...... 91 Mr A F Shepherd 4 9 Trustees ...... 40 Mr P H Warren 3 1 10 Trust Meetings ...... 92

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