Contents
Directors, Staff & Committees Page 2
Chairman’s Report Page 3
CEO Report Page 7
Committee Reports Alpine Page 9 Cross Country Page 12 Freestyle Page 13 Snowboard Page 14
State Reports South Australia Page 17 Australia Capital Territory Page 19 New South Wales Page 20
School SnowSport Development Foundation Page 21
Optus Australian Ski Awards Page 22
Financial Reports Page 23 Directors Report Page 23 Balance Sheet Page 29 Profit and Loss Page 30 Notes forming part of the statement Page 31 Statement by Directors Page 34 Independent Audit Report Page 35
Skiing Australia Limited Rialto South Tower Level 32, 525 Collins Street Melbourne VIC 3000 Phone: (03) 9614 2644 Fax: (03) 9614 7423 Email: [email protected]
Directors, Staff & Committees
Directors
CHAIRMAN Hugh Whan BOARD MEMBERS Andrew Evans Dean Gosper Suzie Graham Steve Loader Gary Plovanic Rod Read Chris Solly Shane Wood
Staff
CEO Steven Potts
Chairman of Discipline Committees
ALPINE Cliff Mason CROSS COUNTRY Tony Greville FREESTYLE David Frydman SNOWBOARDING Jonette Wilton
2 Chairman’s Report Hugh Whan
The 1999/2000 year saw the sport achieve some significant milestones in the performance of our athletes, management of our development programs and substantial reduction of our historic debt level.
Sporting Performance
The 1999/2000 season was a record breaking one for Australian skiing and snowboarding.
Jacqui Cooper became the first Australian to win back to back World Cup skiing titles. With a second double twisting triple somersault added to her repertoire – a full tuck full - Jacqui won both Mt Buller events, won again in Deer Valley and Piancavallo and picked up a silver medal in Heavenly Valley to also capture consecutive World Cup overall freestyle titles.
Alisa Camplin captured her first World Cup medal, a bronze, in the finals in Livigno in March 2000, capping a 12 month period that saw her move from rookie to top ten regular. She continued her great form in August at the commencement of the 2000/2001 World Cup season, winning a silver medal in the Philips Mobile Phones World Aerials at Mt Buller.
Our snowboarders also carved out a new chapter of success. In a superb season, Zeke Steggall won two World Cup snowboard cross events – in Schonried, Switzerland and Madonna di Campiglio, Italy – and also collected a silver medal in San Candido, Italy and a bronze medal in Morzine, France. He ended the season ranked number three in the world.
Fellow New South Wales rider John Fletcher became the second Australian to win a World Cup snowboard medal, claiming silver in snowboard cross in Ischgl, Austria, in his rookie season on the circuit.
Eighteen-year-old Fletcher, a former world junior champion, was competing in only his fifth World Cup boardercross event.
In alpine, Jenny Owens demonstrated her potential by recording her first top 30 World Cup downhill result, and although Zali Steggall was drastically hampered by a viral infection for most of the World Cup season, she maintained her ranking in the world’s top 20 in slalom.
However, the sport owes a tremendous debt of gratitude to Zali for introducing One Tel as a sponsor of the National Alpine Team. Her efforts are an outstanding example of an athlete utilizing her network to put something back into the development of the sport.
Development Programs
A significant milestone for the sport was achieved with the completion of our Athlete Pathways document. This document, designed specifically for the different needs of each discipline, will provide the planning infrastructure to ensure that:
3 1. Resources are focused on the development of credible athletes 2. Stakeholders are aware of their role and position within the national structure 3. Athletes are aware of their defined athlete pathway 4. Black holes which currently exist in the pathways can be identified and addressed.
Clearly, this is an ongoing process requiring review against changing circumstances. However, the sport has already benefited from the Athlete Pathways program, which was developed in consultation with discipline committees, state sporting organizations, The New South Wales Institute of Sport, AIWS, Jindabine Winter Academy and resort managers. I thank all those who participated in this process and encourage you to continue with your participation.
Additionally, the year saw the first intake of athletes into Skiing Australia’s Freestyle Aerial development program and the funding of a cross-country high performance development program through the Australian Sports Commission.
Finance
In May of 2000, it became clear to the Board that we needed to achieve a significant reduction in overhead costs in order to firstly, achieve a breakeven position for the year and secondly, have some chance of achieving our debt reduction goals, which were subject to a satisfactory outcome from our event management activities. As the Aerials outcome could not be guaranteed at that time, the Board implemented a restructure of our resources which resulted in staffing levels being reduced back to Steve Potts, our CEO and supported by a small but willing group of volunteers. This was a difficult decision for the Board, however it was clearly the only financially responsible course of action available to us.
Subsequently, with the successful outcome from the World Aerials event and the achievement of additional corporate sponsorship during the year, we were able to achieve a surplus of $89,000 which has been applied to the reduction of our debt facilities. This result will be difficult to emulate next year, with the decision by the Australian Sports Commission to cease providing funding to National Sporting Organizations for administration. This will result in a net loss of $67,000 to our government grant in the 2000/2001 year.
Events
The 2000 Philips Mobile Phones World Aerials was held over the weekend of August 7 and 8 and was judged a most successful event by competitors, (who nominated the Mt Buller event as the best event on the World Cup circuit for the third year in a row!) our sponsors and the viewing public. The Seven Network achieved a substantial increase in ratings with their innovative coverage of the event. As a result of their outstanding telecast, they were awarded recognition by FIS for the best media contribution to freestyle skiing for the year 2000. Our thanks to our major sponsors, Philips Mobile Phones, Buller Ski Lifts and the Mt Buller Resort Management Board, all of whom are great supporters of the event and of the sport. In particular, our thanks to our competition management team from Team Buller. Again the weather was spectacular and again the outcome could not have produced better results with Jacqui Cooper wining both events and Alisa Camplin gaining a silver podium finish on the Sunday.
4
FIS World Congress
Skiing Australia hosted the 42nd biennial Congress of the Federation International De Ski (FIS) in May 2000 in Melbourne. Over 1000 delegates from more than 100 nations attended the Congress. They were very positive in their praise of the organization of the Congress and the venue. The holding of the Congress in Australia afforded us the opportunity to increase the profile of Australian skiing to an international audience. The Ski Awards dinner was held in conjunction with the FIS World Congress and was attended by Gian-Franco Kasper, President of FIS, Tony Sailer was one of our honoured guests, presenting the Junior Skier of the Year Awards.
Skiing Victoria, the Victorian division of SAL
The Chairman of Skiing Victoria, Joel Dixon, resigned from his role during the year due to time commitments. Despite a concerted effort to identify an individual to replace Joel we were unsuccessful in our search. Accordingly, the relevance of the existing structure of Skiing Victoria will need to be looked at in the future.
Communication
This is probably the area that has suffered most during the year owing to the cutback in our staffing and resources. However, the Skiing Australia Internet site, www.skiingaustralia.org.au has been maintained with the very able assistance of Jonette Wilton and we can see Internet communication becoming more and more the preferred median between Skiing Australia and its stakeholders in the future.
Summation
Over the past two years the Board has focused much of their time and effort in the areas of fundraising and event management in order to achieve what has had to be our primary objective of reducing the historic level of debt. As at the end of the 2000 financial year, our liabilities have been reduced from a peak of $297,000 to $112,000 which is a significant achievement for the sport.
However, this has not been without cost: resources available to the sport at the present time are at an historic low; communication with stakeholders has suffered; the need for the Skiing Australia office to prioritise its activities has meant that many functions that have been traditionally performed by the office have either not been performed or performed outside the preferred timetable, including our AGM. This situation will not change markedly until our debt reduction program is completed and all the activities of Skiing Australia are clearly focused upon sport outcomes.
However, with the support of all our stakeholders, I am confident we will be able to make further inroads towards the achievement of this goal in 2001 whilst we continue to expand our involvement in the management and financing of our athlete development programs.
5 Finally, I must recognize the efforts of our CEO, Steven Potts, who over this past year who has done an outstanding job under very difficult circumstances - a real baptism to the sport in his first year in the role.
6
Chief Executive Officer’s Report Steven Potts
Throughout the 1999/2000 season Australian Skiers continued to earn their place on the World snowsports stage.
Internationally, Jacqui Cooper continued to raise the standard for the rest of the world, with six World Cup victories. Zeke Steggall also left his mark on the World Cup Snowboard Circuit with two World Cup victories, one silver and one bronze medal. Alisa Camplin (Aerials) and John Fletcher (Snowboard) took their first steps onto the World Cup podium with Alisa winning a silver & bronze medal and John a silver medal.
Our Development team members should also be commended with some very promising results in Europa Cup and Continental Cup races.
While the financial position of the organisation has been stabilised during this period, the organisation needed to undertake significant debt reduction so that more athlete development programs can be rolled out in the future.
This involved minimising the cost of running the organisation, while maintaining the cornerstones of the organisation created as a part of our reform, including: the World Cup and the World Cup Club and applying any spare resources to athlete development.
By necessity, the current staffing levels were not able to be supported and hence the level of services provided by SAL have been restricted to core athlete business.
Resources will only be allocated to building on current achievements and projects so that the organisation can most quickly move to Stage 3, building the next generation of World Champions.
FIS 2000 Congress The 42nd FIS Congress was held from May 28 to June at Crown Towers Hotel in Melbourne and attracted over 1000 delegates from about 100 Ski Nations. The Congress was rated as an extremely successful congress by all international participants.
The Grand Opening Cocktail Party was supported by Café de Columbia, CUB, Australian Olympic Committee, Mt Buller Ski Lifts, Mt Buller RMB, Mt Hotham Skiing Company, Mt Hotham RMB, Falls Creek Skiing Company and Falls Creek RMB.
2000 Ski Awards The 2000 Ski Awards were held on 31 May 2000. The evening was very well received with a high level of positive feedback.
7 This event could not have occurred without the enormous dedication of Kerry Clifford and Lea Greer. I would personally like to extend my appreciation to both Kerry and Lea for their support both before and after the event.
The evening was sponsored by Federation Health, Network Seven, CUB and ASAA.
2000 Philips Mobile Phones World Aerials The 2000 Philips Mobile Phones World Aerials was successfully held on 11 & 12 August with Mother Nature providing 2 glorious days, the athletes went to new levels to secure the first points for the season.
The events culminated on Sunday with Jacqui and Alisa finishing 1st & 2nd respectively and Eric Bergoust breaking his own World Record to win. The first time a FIS skiing world record has been achieved in Australia
One.Tel Sponsorship One Tel launched their Regional Club Sponsorship providing support to the 5 Major Regional Alpine Clubs with racecourse equipment, safety equipment and a vehicle.
One Tel also launched the One.Tel Zali Sponsorship program, which consists of 6 x $5000 junior scholarships to athletes between 15 and 19 years, and 3 x $8000 scholarships to current or prospective members of the SAL National Team competing at Continental Cup Level.
Skiing Australia is very appreciative of the continued support offered from One.Tel and we thank them for their support.
I would also like to take this opportunity to thank all of our sponsors, major stakeholders and of course all of our volunteers who have continued to support Skiing Australia with hard work and dedication.
8
Alpine Cliff Mason - Chairman
Background & Achievements This report to the Skiing Australia Annual General Meeting covers the SAL year ending 31st October, 2000. It does contain some reporting of current activity but mainly covers last year’s accomplishments.
The first half of the year saw the completion of a comprehensive 4-month overseas campaign in North America and Europe for our National Team athletes. The Alpine Committee had employed four coaches covering men’s & women’s speed and technical disciplines and the whole program made a small surplus through to March 2000.
The team made more top 15 and top 30 places in the Europa Cup than any previous AUS team. Based on results to March 2000, the five women made 3 top 15 EC results, 7 top 30 EC results, 1 top 30 WC result and 6 top 40 WC results. The two SAL men (AJ and Craig) made 2 top 15 EC results plus a 16th & 17th and another 6 top 30 EC results. AJ made 3 top 50 WC results.
The World Junior Championship Team came 14th out of 30 nations, with Rowena Bright gaining 10th place in the Women’s Combined and 17th in the Downhill and the two 3rd & 4th year junior boys (Luke Deane & Jono Brauer) doing very well for their age.
The following year 2000 Australian winter was blessed with record early snowfalls that established some of the best skiing conditions seen in Australia for many years. The competition program was mainly compressed into the July/August period to clear the way for Sydney Olympics 2000 in mid-September.
For the first time in many years, comprehensive speed skiing camps and programs were organised in Australia by Steven Lee. These were conducted at Falls Creek, Thredbo and Perisher Blue, with an end of season camp being held on Mt Perisher after the resort had closed in October, thanks to the support of the Perisher resort.
This meant that athletes were much better prepared to go overseas in November 2000 for the important World Championship season culminating in the Olympic Selection trials at St Anton in February, 2001. Whilst it is not part of this reporting year, it is worth noting that a record field of ten (10) Australian skiers has qualified for alpine events at the St Lake City Winter Olympics in February, 2002.
Problems & Challenges 1. The lack of a European-based Team Manager in 1999/2000 led to a number of problems with vehicles, accommodation, athlete and coaching discipline. None of the problems involved serious behavior or disciplinary actions but Jamie Dunlop was appointed (Honorary) Team Manager at the time to exercise some control and organisation. 2. Reporting and expense reconciliation from coaches in the first half of the program was minimal and can still be significantly improved. It is vital that future coaches and/or the Team
9 Manager takes a PC with Internet capability with them for reporting and communication. This made it very difficult for the SAL office and Steve McKittrick to reconcile the team budget. 3. One coach was dismissed at the end of February 2000 through non-performance, no reporting, minimal supervision of his athletes and other issues. He was the most experienced and highly paid coach and it was most disappointing that this came about. The men’s speed program results were adversely effected by these problems. Injuries took their toll, the most serious being Brad Wall’s fractured leg and forced return after an operation. Brad was really starting to post some significant results at the time and was encouraged to return as soon as fitness permitted. Others to be injured at the time were Kathrin Nikolussi, Michelle Wall, Craig Branch and AJ Bear, although the latter two rejoined the circuit in February 2000. 4. Adverse snow conditions reduced the value of the USA start to the men’s speed program and severely impacted the end of season Europa Cup Finals.
Recommendations Adopted for 2000/2001 1. If funding permitted, a Team Manager must be appointed before any team departs and must be based in Europe prior to team arrival through to the end. Ideally (finances permitting), this would be an additional person who could also assist and backup coaches where necessary. In reality, it was only possible to appoint BJ Kaufmehl as Team Captain during this years St Anton World Championships and Chris Hillier filled the role of Team Manager in the last Northern Winter. 2. Coaching contracts must be signed before team departure with clearly stipulated responsibilities and controls over such items as equipment, athlete behaviour, use of vehicles. 3. Coaches and the Team Manager must have laptops with Internet access and strict reporting cycles. 4. Athlete fitness programs (12-month) must be developed with improved testing regimes and fitness targets for each athlete. Their progression and support will depend upon meeting these goals. 5. The SAL COC programs must be refined and better targeted to achieve results. This will probably result in a smaller National Team after the Olympics and a focus on certain disciplines, not necessarily all. 6. Assistance is still required from the Board of SAL and those with marketing expertise to broaden the funding base of the alpine program and to raise more sponsorship. This is particular needed in the short-term to find sponsors for our National Championships and Continental Cup Series.
In summary, the year in question was successful in establishing a viable Northern Hemisphere program with the support of sponsors like One.Tel and each of the Australian ski resorts and in preparing athletes that went on to achieve selection for the 2002 Winter Olympics.
With the demise of One.Tel this year, the alpine committee has faced a difficult challenge to fund the 2001 Australian winter program and to prepare the best possible Nth American & European lead-up program for the Olympics.
Good luck to all our athletes in the exciting year ahead.
10 Cross Country Chris Derrick - Chairman
During the last year cross-country has undergone a significant committee change with Tony Greville stepping down as Chairperson, and the restructuring of sub-committees. Tony has achieved many positive outcomes for cross-country in the past 7 years, in particular the securing of increased funding from the Australian Sport Commission to Skiing Australia to develop and run a sustainable program with long-term goals. It is a credit to Tony that the program he envisioned 3 years ago is now widely respected and will enable cross-country athletes to achieve to the best of their ability provided the program receives the resources it requires to be run effectively.
The cross-country committee now consists of four new sub-committees, each with a separate portfolio to ensure maximum attention can be given to the numerous aspects of our sport. The sub-committees are Athlete Development and Coaching, Finance and Administration, Rules and Control, and Marketing and Communications. While we are still in the process of fine-tuning the various key elements of the sub-committees we are positive that this structure will benefit the administration of our sport.
Our elite program has continued its steady and successful improvement over the past twelve months. Funds from SAL, vital to the success of the program, were directed to many areas including employment of the High Performance Manager and National Team Coach, program administration, domestic training camps, and international competition. Other aspects of the program are also progressing steadily, including the sports medicine support program, physiological testing, and improved media exposure. We are certain that the continuation of the program will offer an ongoing framework for our athletes to achieve to the best of their abilities, as is the mission of Skiing Australia.
Thirteen national team athletes and six support staff were officially involved in the 2000/2001 international program, with three skiers qualifying for the World Championships in Finland and three skiers for the World Junior Championships in Poland. Almost all team members improved their FIS points and rankings, and we now have two skiers qualified to ski World Cup. Several other national team athletes also gained valuable international experience training and competing overseas with ski gymnasium programs and ski clubs.
The only major disappointment of the international program was skiers falling short of expectations at the World Championships and failing to reach the qualification standard for the Winter Olympics. However, qualification to World Cup means that there are still opportunities to achieve the standard in World Cup at the end of this year. This will be the major focus of the 2001/2002 international program.
The domestic program is preforming strongly with monthly national team camps leading into the winter and strong state and club programs supporting weekly training. A recent physiological testing camp at the AIS demonstrated the continued improvement of our elite skiers, with Ben Derrick equalling Anthony Evans' record time on the VO2 max protocol and several other skiers recording VO2’s in the high 70’s.
The increased international exposure of many team members will help to increase the depth of domestic competition. We now have 17 skiers with current FIS points, compared to 5 at the start of 2000. This will lead to lower FIS penalties in the Australian Continental Cup series, and in time will give skiers the opportunity to qualify for major international events without having to chase
11 races all over the world. Domestic competition will also be enhanced this season by the presence of several well-credentialed international skiers, which ensures that our top athletes will be pushed to the best of their abilities.
The domestic season has also been boosted by the addition of five new sprint events (including two FIS sprints) and the introduction of the Victorian Sprint Series. The fast and spectator friendly nature of the sprint provides a great opportunity for promoting the sport, and is already attracting sponsors and prize money.
One of the major challenges facing the cross-country committee is the resurrection of the national coaching program after a period of decline in the late 90’s. There are only a few new coaches on the scene and the accreditation of many active coaches has expired. Level 2 coaching courses have not been run since 1997, and the course itself now requires re-accreditation. The reinvigoration of the national coaching program will require skilled management and we are investigating the appointment of a new National Coaching Director.
During the next twelve months we will continue to improve our administration, focussing on the national coaching framework in particular. We will also continue our committed pursuit of providing a program where our athletes can achieve the highest level of their ability.
12 Freestyle David Frydman - Chairman
13 Snowboard Jonette Wilton – Chairman
At its meeting on 14 December 2000 the National Snowboard Discipline Committee (NSDC) of Skiing Australia (SAL) adopted a working paper setting out measurable goals for 10 years commencing 2001. The long term goal is to obtain podium finishes at the 2010 Olympics.
The Program goals set out in the working paper were as follows.
2001 Junior World 1 finish in top 10% Championships World Championships 1 finish in top 60%; other participation and finishes in top 80% 2002 Junior World 1 podium place Championships Olympics Participation World Cups Athletes achieving in top 50% 2003 World Championships 2 athletes in top 40% Junior World 2 Podium Places Championships 2004 World Cups 2 athletes in top 25 placings 2005 World Championships 2 athletes in top 20 places 2006 Olympics 2 athletes in top 20 finishes 2007 World Championships 2 athletes in top 12 placings 2008 World Cup 2 athletes achieving podium placings 2009 World Championships 2 athletes with Podium Placings 2010 Olympics 2 athletes with Podium placings.
This report outlines progress towards the objectives in the plan since that date.
2000/2001 Program goals
NSDC goals for the 2001 World Championships were:
• one finish in top 60% • other participation in top 80%
We are pleased to report that Australian snowboarders achieved:
• 3 finishes in top 60% (male) • 1 participant in top 90% (female)
The Plan
14
Domestic competition
Goal: Increase the level and frequency of FIS accredited Alpine and Freestyle snowboarding events in Australia.
Discussions have commenced on FIS Continental Cup races for the 2001 Australian season.
Initial discussions have been with Mt Buller Race. MBRC indicated support for obtaining FIS accredited event. NSDC will request assistance form SAL in discussions with resort management at Mt Buller and potential sponsors. We are currently checking Steve Brown's ability to authorise FIS accreditation for Australian events.
Discussions have also been held with John Steggall who will raise the issue with Mt Perisher resort management. SAL support is also sought for this event.
In both cases NSDC will request that the races be PGS and Halfpipe, given that these are the only Snowboard events for the 2002 Winter Olympics.
The possibility of a Trans-Tasman FIS accredited race has been raised with Graham Dunbar of New Zealand Snowboard Association. It was proposed that the first race be held in New Zealand this year, and thereafter rotated between Australia and NZ. He indicated support. This is a matter for consideration by the Committee and SAL.
We will be encouraging Australian FIS snowboarders to attend the NZ National Snowboard Championships in 2001. To encourage participation, we will ask NZ to conduct a FIS accredited PGS race.
Participation in FIS events
Goal: Encourage a high level of participation in FIS accredited snowboarding events in Australia.
We need to obtain FIS accredited races before we can encourage participation.
Athlete development
Goal: Assist promising athletes to develop through local races, Continental Cup events and World Cup events to a standard where they are able to compete effectively at Junior World Championship, World Championship and Olympic events
It is hoped that NSDC can put together a National Development Squad to represent Australia in the New Zealand Nationals and Junior World Championships next year.
It is the aim of NSDC to assist in every way possible the 3 athletes who have made Australian qualification for Olympic events, to ensure that we have at least 1 representative at next year's Olympic Games. NSDC will try to assist by offering PGS FIS races (see above). NSDC will also approach highly qualified coaches to do extra work and clinics with snowboarders and local coaches for short periods during the domestic season.
15
Website
NSDC has designed and implemented a website to offer information to all its athletes. It includes general information on snowboarding and racing, plus qualification criteria, latest results and a calendar of FIS events.
Chairperson & Committee
NSDC is a very new committee and is seeking advice and experience from the broader community. Experienced technical help is required at both committee level and for the position of Chairperson. Sponsorship will also be required to further develop programs to achieve NSDC goals. High level National companies will be targeted and approached for assistance.
16 South Australian Skiers Association Skiing Australia Report. Graham Brown President
After a couple of years or so of falling membership, SASKI has had to think hard about it’s future direction. The emphasis on membership in a skiing association seems to have dwindled somewhat in the last 5 or so years. This is understandable as more and more services and information become available on the web. At a special meeting of the SASKI Committee it was decided to put a number of programs together to try and curtail this decline in membership. During our annual ski sale, SASKI carried out a survey of what skiers wanted in an association and what would make them join. Not surprisingly that all (100%) wanted membership to offer cheaper lift tickets. Others wanted cheaper accommodation, transport and meals etc in the snow. The other attributes of membership polled well below these. To that end, SASKI membership now includes the Mt Buller card, which has proved quite popular. If other resorts in Victoria offers similar discounting, SASKI would hope to be able to offer these as another alternative to it’s members.
SASKI has a number of functions or events during the year that help to promote participation in snow sports to South Australians. The annual Ski Sale held on the last weekend in May attracted some 2000 people to St Peters Town Hall. This is SASKI’s main money earner for the year, with this year showing the greatest turn over in it’s 14 years of operation. All items for sale are entered into a computer data base where all transactions are recorded. This makes for a smooth operation and maintains search and audit facilities for all items bought or sold during the sale. All work is voluntary with most of the “workers” coming from SASKI members and friends. Part of the proceedings of the Sale go to the Disabled Winter Sport Association.
This year SASKI introduced a pilot development program with some sponsorship from the SA Office of Sport and Recreation. The program was aimed at pupils from schools that had not had the opportunity to travel to the snow before. A number were offered training at the Snow Dome in Adelaide with the eventual aim of receiving part sponsorship to the SA Interschool Championships at Mt Buller in July. SASKI aims to reorganise the structure to make it more attractive to schools/pupils and expand the program for 2002.
The South Australian Interschool Championships were held at Mt Buller on the 19th July. Snow cover was somewhat minimal, however the event did go ahead albeit at night. This worked quite well as the entrants had the whole mountain to themselves and also gained a bit of extra skiing time. This year there was an increase of over 100% on last years entries numbers, a very encouraging result. This was boosted by representatives from Mt Buller and the SnowSports Development Foundation visiting SA schools in February in an effort to promote the event. Entries were received from many outlying warmer and drier parts of SA, thanks to the Open Access College participating.
The committee now has snowboard representation on it, which is hoped will build up a more solid membership base from the SA boarding fraternity in the coming years.
SASKI is currently looking at options for changing it’s web sight to a more commercially based sight, which should offer members and interested parties a better range of information. This should be up and running by the end of the year.
17 Generally membership is on the rise and although SASKI has limited opportunities to promote snow sports in SA, by expanding the interschool and development programs it is hoped to increase SASKI’s profile amongst SA snow sports enthusiasts in the coming years
Graham Brown President South Australian Skiers Association PO Box 50 Nth Adelaide SA 5006.
18 Snowsports ACT
Another year has passed and this is a recap of some of the events from 1999/2000 from the perspective of SnowSports ACT. We have now completed one year under our new name of SnowSports ACT (formerly the ACT Ski Association Ltd). The annual Ski and Snowboard Expo & Sale was held in May and used as the launch for our new name and was attended by Bill Stefaniack the ACT Minister for Sport and Recreation. Our Ski Sale was also attended by many local and regional retailers and resorts including Belconnen Ski Inn, Intak Sports, Yowie Snowshoes, Thredbo Alpine Resort, Selwyn Snowfields, Perisher Blue. We would like to thank all those who volunteered on the day to make it the success it was.
Our AGM was held on 1st May 2000, two new directors were elected to the board Peter Cunningham and Jim Wilson in the positions of Cross Country and Alpine Chairs respectively.
SnowSports ACT ran a number of successful events during the winter months. The Selwyn Children’s Championships were held again with 76 children competing. Young podium finishers from ACT athletes included Cherry Stevens, Greta Robinson, Hugh Stevens, Benjamin Hansen, Nicole Wilson, Felicity Nolan and Georgia Wilson.
The inaugural Snowy Mountains Classic was held in August in perfect conditions at Perisher Valley, there were over 250 skiers competing with races from 2.5 – 42 km catering for all ages and abilities.
Athletes who were awarded ACT Academy of Sport Scholarships in 2000 were Jeanette Korten (Alpine), Katie Calder (Cross Country) and Genevieve Harris (Snowboarding). Other athletes who achieved credible results in 99/00 included Emma Wilson, Sally Cunningham
Our Annual Ski Award Dinner was held in December at the Canberra Workers Club. ACT Skier of the year was awarded to Katie Calder for her outstanding results throughout the season and her selection to compete at the World Junior Championships in 2000. The awards were as followes:
Skier of the Year – Katie Calder (National Junior Cross Country Champion, Ranked 3rd in Seniors) Alpine Skier of the Year (female) – Greta Robinson Alpine Skier of the Year (male) – Bryce Stevens Cross Country Skier of the year – Sally Cunningham
I would like to take this opportunity to thank all the members of the board for all their time, hard work and enthusiasm, which has ensured the smooth running of our organisation.
19 New South Wales
20 School SnowSports Development
The School SnowSports Development Foundation is an independent not-for-profit organisation, affiliated with Skiing Australia, and established to develop junior skiing and snowboarding and to ensure all Victorian school children have the opportunity to participate in snowsports.
The School SnowSports Development Foundation recognises what a wonderful experience skiing and snowboarding can be for young people and as a result have developed a number of events and programs that encourage not only physical activity but also interaction with others that will hopefully lead to a lifelong association with a family based recreation.
The year 2000 was without doubt the most sucessful year that the School SnowSports Development Foundation has had. The SunSmart Victorian Interschools SnowSports Championships held at Mt Buller were the largest snow sports competition in the Southern Hemisphere with new record levels of competitors. There were a total of 4,414 competitors who competed in 60 separate events.
There were a total of 143 schools competing and one of the very pleasing aspects of this was that 55% of those schools came from the government sector.
The School SnowSports Development Foundation also hosted the Australian Interschools SnowSports Championships at Mt Hotham, which also attracted a record numbers of entries. A total of 1,522 children competed in 60 events, which despite trying conditions were a great success.
To further increase participation in snowsports the Foundation launched the Interschools Challenge Series (to be called the Interschools Grand Prix Championships in 2001) at Falls Creek and Mt Hotham. Twenty (20) races were held over 4 weekends with a total of 1,620 entries from 76 different schools. These events provide school children with the opportunity to not only compete for their schools, but to also train and gain experience on race courses, prior to, what for many is the pinnacle of their ski season – competing for their school in the Victorian Interschools SnowSports Championships.
All these events provide school children regardless of their ability levels the opportunity to compete against not only those of similar ability, but perhaps in the only competition of its type, the opportunity to compete against the elite athletes in snow sports.
The School SnowSports Development Foundation greatly appreciates the generosity of its many sponsors and supporters and acknowledge their contributions in assisting the Foundation to achieve its objective of “providing opportunities for all Victorian school children to experience snow sports and to participate at either a recreational or competitive level at the lowest possible cost”.
21 At the same time a special thanks must be passed on to the 3 major Victorian ski resorts; Mt Hotham, Falls Creek and Mt Buller without whose support these events and programs would not be able to be run. Also a special thank you must go to all the volunteers, parents, teachers, school ski co-ordinators and the schools for their support and encouragement, which enables the Foundation to continue to conduct successful events and programs.
As well as the Interschools the School SnowSports Development Foundation also run other programs to encourage participation in snow sports, these include. • Yeti Program • Alpine Accreditation Program • Camp “Big Foot” • Trailblazers • Pacesetters • Snowline
The year 2001 will see a further expansion of the programs conducted by the School SnowSports Development Foundation.
In conclusion as Chairman I would like to thank all members of the Committee, who have given so much of their valuable time over the past twelve months, in support of the schools and participants, often at personal expense. Also I would like to pass on my thanks for the work and dedication that our full time employees, Rob Osborne, Steve Nelson and Josh Lyle have shown over the past 12 months, without them our events programs would not be the success they are.
Finally I would like to express my sincere thanks to David Perkins who, as Chairman of the Foundation for the past 4 years, has steered the organisation through its transformation from focusing entirely on a single event (1997 Interschools - 3,200 entries), to a totally independent, development foundation, clearly focused on increasing the number of schools and students participating in snow sports, through provision of multiple snow sports events and development programs (10,065 participants in 2000) .
Tom Swan Chairman School SnowSports Development Foundation
22 2001 Australian Ski Awards
Best Electronic Media Contribution to Skiing: Seven Network Australia Skiing Photograph of the Year: Mark Ashkanasy Best Print Media Contribution to Skiing: Snow Safety Inc Best Contribution to Snowsports Instructing: Kent Carpenter Ski Patroller of the Year: Rik Head Ski Club of the Year: Team Buller Special Achievement Award: Jacqui Cooper Coach of the Year: Steve Desovich Outstanding Service to Skiing: Tony Greville, Peter Dyson School Snowsports Award MLC Friends of Snowsports Junior Skier of the Year: John Fletcher Junior Skier of the Year, Alpine: Jono Brauer Junior Skier of the Year, Cross Country: Esther Bottomley Junior Skier of the Year, Snowboard: John Fletcher Junior Skier of the Year, Freestyle: Davina Williams Skier of the Year Maria Despas Skier of the Year, Alpine: Zali Steggall Skier of the Year, Snowboard: Zeke Steggall Skier of the Year, Cross Country: Camille Melvey Skier of the Year, Freestyle: Maria Despas
23 Financial Reports
DIRECTORS’ REPORT
Your directors submit the financial accounts of the company for the financial year ended 31st October 2000.
Directors The names of the directors in office at the date of this report are: Hugh Whan (Chairman) Andrew Evans Dean Gosper Suzi Graham Steve Loader Gary Plovanic Rod Read Shane Wood
Ex-officio members are: Geoffrey Henke, Chairman Australian Institute of Winter Sport Ian Chesterman, Chef de Mission, Winter Olympic Games
Principal Activities The principal activities of the company during the accounting period were administering the sport of skiing in Australia. No significant changes in the nature of these activities occurred during the financial year other than that mentioned under “Changes in State of Affairs”.
Operating Results The consolidated profit of the company for the period was $89,162. No provision for income tax has been made, as the entity is exempt from income tax.
Dividends No dividends were paid during the accounting period, as the entity is not able to pay dividends under its Articles of Association.
Review and Results of Operations The operating profit for the financial year was principally due to a strong focus on income through corporate sponsorship. The performance in this area has been strong with the two most notable achievements being the Freestyle World Cup Aerials at Mt Buller and the Ski Awards Dinner.
The company has been able to meet its financial obligations to its creditors as at 31st October, 2000 and to the date of this report.
24 Changes in State of Affairs During the accounting period the School SnowSports Development Foundation Incorporated was established to assume responsibility for the management of the Victorian Interschools Ski Championships and related activities.
After Balance Date Events No other matters or circumstances have arisen since the end of the financial year which significantly affect the operations of the company, the results of those operations, or the state of affairs of the company in the financial year subsequent to the accounting period ended 31st October, 2000.
Likely Developments The company has commenced negotiations for the conduct of an Aerial World Cup event in July 2001. In addition to this the company is working to develop a Mogul World Cup event as well as extra events from which to generate supplementary corporate sponsorship income.
Director’s Benefits and Interests in Contracts No Director has received or become entitled to receive, during or since the accounting period, a benefit because of a contract made by the parent entity or the controlled entity, or a related body corporate with a Director, a firm of which a Director is a member or an entity in which a Director has a substantial financial interest, other than the following specific cases:
Indemnification and Insurance of Officers During the accounting period, the parent entity has paid premiums to insure each of the Directors and Officers of the parent entity against liabilities for costs and expenses incurred by them in defending any legal proceedings arising out of their conduct while acting in the capacity of Director or Officer of the parent entity, other than conduct involving a willful breach of duty. Further disclosure required under Section 309A(3) of the Corporations Law is prohibited under the terms of the contract.
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Information on Directors and Nominations to the Board
Hugh Whan Hugh Whan is currently the Managing Director of Cambridge Consulting Services. Cambridge is an Australian owned Executive Search firm based in Melbourne, Sydney and New Zealand. Hugh has an extensive background in the Australian Ski industry, which allows him to understand the issues that confront all involved. Hugh has held the position of Chairman of Skiing Australia since July 1998 and prior to that was the Chairman of the Mount Buller Race Club for a number of years. Hugh’s experience in Executive Search, organisational change and organisational review is well acknowledged within Australian industry and he is well positioned to contribute to the sport.
Andrew Evans Andrew was a member of the Australian World Cup Freestyle Team 1990 – 1995. He was Australian Champion in aerials 1990 and moguls 1991. Andrew was a Director of the freestyle skiing program at the Whiteman School Skiing Academy 1989 Colorado USA. Columnist for Ski Extra magazine since 1990. FIS freestyle technical delegate accreditation. Director, Skiing Australia 1997 – Present. Employed by Project Planning and Management Pty Ltd as Construction Project Manager. Tertiary education: Bachelor of Building Construction Management (with distinction) RMIT.
Andrew Evans has been nominated as the Athlete Representative to the Board
Dean Gosper Dean Gosper is a self-employed investor, having been educated and trained as a lawyer. He also holds a second degree, Bachelor of Economics. His commercial experience includes over 11 years in corporate banking, including eight years in a leading Investment Bank providing corporate and financial advice to major corporations Dean has five years experience in a high growth food manufacturing and marketing business alongside his business partner, Mr Fraser Hopkins, with whom he still works today. The food business, Latina Pasta, was joint ventured with and eventually sold to Pacific Dunlop Limited. In more recent years, completion of and investment in a number of successful property ventures. Dean Gosper’s civic involvements include a five-year role on the Board of the Austin Hospital, including two as President. His present roles include Board Member of Skiing Australia Limited, Methodist Ladies College and Chair of the MLC Foundation and Mt Buller Resort Management Board, Deputy Chair. Dean and his wife Liz enjoy good health and have an active family (including two daughters, Casey and Alice and son, Henry) with keen interest in many sports particularly skiing.
26 Dean Gosper has been nominated as the Skiing Victoria Representative to the Board.
Neill Bell • Neill Bell is a serving member of the NSW Ski Association.
Neill Bell has been nominated as the NSW Ski Association Representative to the Board
Steve Loader Steve holds the Executive Position of Manager, Corporate and Sporting Sponsorships for Qantas Airways Limited. His role at Qantas deals with sponsorship of sporting federations, associations, events and athletes worldwide. His experience in this role over many years has provided extensive knowledge in dealing with a broad range of sports and events. Steve was appointed as Deputy Head of Delegation for the Australian Team to the 1999 Winter University Games in Slovakia. Steve has assisted in the preparations of the World Cup Freestyle event at Mt Buller for the past three years. He is on the Executive Committee for the FIS World Congress and recently took leave to attend the World Cup skiing finals in Bormio, Italy where contact was made with many International FIS Delegates who will be attending the FIS World Congress in Melbourne in May 2000. Steve represented NSW and Australia in Surf Lifesaving, Soccer and Canoe Polo. He holds a Bachelor of Business Degree. Steve has been a Director of Skiing Australia for the past 2 years and during this time he has endeavored to formalize negotiated agreements to provide a definitive base of costs and benefits to Skiing Australia Limited. He has also provided invaluable input into sponsorship negotiations and corporate support.
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Gary Plovanic Gary is an independent investor including interests in listed and private companies. He was Chairman and Chief Executive of a leading group of companies in the business of actuarial, investment and strategic consulting services until 1997. Gary has 25 years of experience in business management, development and directorship. Gary and his family are keenly involved in skiing Australia and overseas.
Rod Read Rod is the Chief Executive of Sports Marketing and Management Pty Ltd. He is a member of the Management Committee Thredbo Farm. His former roles include General Manager of Australian Sports Marketing, Sales Director Network Sport – Seven network, Tournament Director – ATP Tour, 1989 – 1997. Rod served as a Board member of Bathurst 1000 Event Management, 1993 – 1997. Rod and his wife Jan have three children Tomas, Tori and Michelle, all of whom enjoy recreational skiing as a family.
Rod Read has been nominated and offers himself for re-election to the Board.
Shane Wood Shane Wood is Executive Director of the Olympic Games for Network Seven. He was appointed to his current position in 1997 after two years in the role of Corporate Development Director for Network Seven. After gaining admission to the Institute of Chartered Accountants in 1985 he spent three years in strategic planning with an American multi-national computer company. He then joined the Ten Network and over a period of seven years gained experience in the areas of planning, finance, production, operations and business affairs. Shane was General Manager of Ten’s Commonwealth Games operations in Victoria, Canada in 1994. His role at the Seven Network currently involves responsibility for the planning, logistics and marketing of Seven's Olympic franchise as well as representing the Network on the Board of Ski Australia Ltd. During Seven’s coverage of the 1996 Atlanta Summer Olympic Games and 1998 Nagano Winter Olympic Games Shane held the position of General Manager of the Network’s operations. Shane has also assumed responsibility for the establishment of Seven’s two new sports PAY-TV channels. Previously one of Seven’s representatives on the Board of SportsVision he now manages the development and implementation of C7 Sport.
Shane Wood has been nominated and offers himself for re-election to the Board.
28 Ken Ryan Is a senior executive at Qantas, a major SAL & snowsports sponsor. He recently moved from Singapore and now holds the position of Regional General Manager of Victoria and Tasmania and is the Special Advisor to Qantas's Chair, Margaret Jackson.
Ken Ryan has been nominated and offers himself for re-election to the Board.
Peter Sandow
Peter is a graduate of Melbourne University. He has twenty-five years architectural experience much of it in the tourism area including ski-field and resort developments, hotels, hospitality and food industry projects. Peter is strong and creative designer with a flair for eye-catching architectural design statements. His architectural skills are underpinned by a sound understanding of urban design. Recent projects such as the Hotham Village development are a testimony to these planning skills. Peter has been a director of the practice since 1987
Apart from tourism resort and urban design work, the practice specializes in the design and consultation of:
- Sport and recreation facilities - Commercial offices and business environments - Multi residential facilities, medium and high density
This practice also provides Construction Management Services with full time staff operating this discipline.
This capability leads to project types that are strongly aligned in the field of commercial development, working directly with building contractors and property developers in a team approach.
Directors Meetings The number of Directors’ meetings held during the period of the 2000 Annual Report is 5. The number attended by each Director is indicated alongside their name in the table below. The Board determines that a committee structure should be established to include the Finance, Marketing and Fundraising and Program functions. Accordingly the number of formal board meetings was reduced during the 1999/2000 year.
Board Members Number eligible to attend Number attended
Andrew Evans 5 3 Dean Gosper 5 4 Suzie Graham 5 4 Steve Loader 5 4 Gary Plovanic 5 3 Rod Read 5 4 Hugh Whan 5 5 Shane Wood 5 4
Signed in accordance with a resolution of the Board of Directors.
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DIRECTOR (Hugh Whan) ...... HUGH WHAN
DIRECTOR (Gary Plovanic) ...... GARY PLOVANIC
Dated this 30th day of March, 2000.
30 Balance Sheet as at 31 October 2000
Current Assets 2000 1999 Cash - - Receivables $256,277 $164,289 Sundry Receivables $26,414 $22,500 Total Current Assets $282,691 $186,790
Non Current Assets Office furniture & Equipment $2,816 $4,693 Leased Assets - - Motor Vehicles $19,203 $24,778 Total Non Current Assets $22,019 $29,471
Total Assets $304,710 $216,261
Current Liabilities Trade Creditors $158,215 $92,435 Other Creditors $51,618 $56,277 Bank Overdraft $176,875 $236,285 Lease Liability – Motor Vehicle $7,320 $7,320 Provision – Annual Leave $6,346 $4,480 Total Current Liabilities $400,374 $396,797
Non-Current Liabilities Lease Liability – Motor Vehicle $16,960 $21,250
Total Liabilities $417,334 $418,047
Net Assets ($112,624) ($201,786)
Equity Accumulated Profits/(Losses) ($112,624) ($201,786)
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Profit and Loss Account for the Accounting Period Ended 31 October, 2000
2000 1999 $ $
Operating Profit/(Loss) $89,162 $39,273
Abnormal Items $0 $0
Extraordinary Items $0 $0
Income Tax attributable to operating $0 $0 profit
Net Profit/(Loss) $89,162 $39,273
Accumulated Losses at the beginning ($201,786) ($241,059) of the accounting period
Accumulated Profits/(Losses) at the ($112,624) ($201,786) end of the accounting period
32 NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTS FOR THE ACCOUNTING PERIOD ENDED 31ST OCTOBER, 2000
1. Statement of Accounting Policies
These financial statements are a special purpose financial report prepared for use by the directors and members of the company, and to enable compliance with statutory requirements. The directors have determined that the company is not a reporting entity.
The financial statements have been prepared in accordance with applicable Accounting Standards and other mandatory professional reporting requirements (Urgent Issues Group Consensus Views) and the Corporations Law, except for:
AASB 1017- Related Party Disclosure AASB 1020- Accounting for Income Tax
In the opinion of the directors, compliance with the above standards would have placed an unreasonable burden upon the entity for a comparably minor benefit.
The following is a summary of the material accounting policies adopted by the company in the preparation of the financial statements.
(a) Income Tax. No income tax is payable by the company as all income derived is exempt under the provisions of Section 23(g) of the Income Tax Assessment Act.
(b) Comparative Figures. The comparative figures are for the twelve month accounting period ended on 31st October, 1999.
2. Particulars in Relation to Controlled Entities The controlled entity of Skiing Australia is the School SnowSports Development Foundation.
Name Contribution to Group Profit/(Loss) Holding (%) 2000 1999 $ $ Skiing Australia Ltd. - Parent Entity 89,162 39,273 n/a
School SnowSport Development Foundation - Controlled Entity (17,164) 7,184 100%
Total $71,998 $46,457
The controlled entity, School SnowSports Development Foundation is incorporated in Australia and carries on business in Australia, and is audited by Heffernan Crawford and Partners. The controlled entity is a foundation and is controlled by virtue of its Articles of Association which provides for a majority of Directors’ voting rights to be vested in the Board of Directors of Skiing Australia Ltd. (the parent entity).
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3. Operating Profit The operating profit/(loss) for the accounting period was arrived at, after crediting:
2000 1999 $$
Interest Received 0 18
Less Depreciation of plant and equipment 1,877 10,322 Amortisation of leased assets 5,575 9,099 Interest Paid 26,366 22,923
$33,818 $42,326
4. Operating Revenue
2000 1999 $$
Government Grants 355,900 158,248 Other Grants 43,091 107,452 Sponsorship 581,790 426,760 Royalties 0 0 Affiliations 11,513 24,255 Donations 31,635 19,200 Subscriptions 20,291 12,090 Event Revenue/Entry Fees 84,048 41,852 Other 239,347 141,333
$1,387,615 $931,190
5. Members’ Guarantee The company is incorporated in Victoria and is limited by guarantee. If the company is wound up, the Articles of Association state that each member is required to contribute a maximum of $50 each towards meeting any outstanding obligations of the company.
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6. Notes to Statement of Cash Flows For the purposes of the statement of cash flows, cash includes cash on hand and in banks, at call deposits and investments in money market instruments. Cash at the end of the accounting period is shown in the balance sheets as:
2000 1999 $$
Cash on Hand 0 0 At Call Deposits 0 0
$0 $0
7. Leasing Commitments Finance Lease Commitments
2000 1998 $$
Payable not later than one year 7,320 7,320
Later than one year but not later than 2 years 7,320 7,320
Later than 2 years but not later than 5 years 9,640 13,930
Less Future Finance Charges 0 0
$24,280 $28,570 Total Lease Liability
8. Auditor’s Remuneration
2000 1999 $$
Amounts received or due and receivable by chief entity auditors for: auditing the accounts 3,200 2,900 other services 0 0
9. Industry and Geographical Segment Reporting
The company’s activities were the administration of the sport of skiing in Australia.
35 STATEMENT BY DIRECTORS
In the opinion of the Directors of the company:
1. The company is not a reporting entity and these accounts are Special Purpose Financial Reports.
2. (a) The accompanying Profit and Loss account gives a true and fair view of the profit of the company for the accounting period;
2. (b) The accompanying Balance Sheet gives a true and fair view of the state of affairs of the company as at the end of that accounting period; and
3. The accompanying consolidated accounts:
3. (a) have been made out in accordance with Divisions 4A and 4B of Part 3.6 of the Corporations Law; and
3. (b) give a true and fair view of the matters dealt with by those Divisions.
4. At the date of this statement, there are reasonable grounds to believe the company can meet its debts as and when they fall due.
This statement is made in accordance with a resolution of the Board of Directors and is signed for and on behalf of the directors by:
DIRECTOR (Hugh Whan) ...... HUGH WHAN
DIRECTOR (Gary Plovanic) ...... GARY PLOVANIC
Dated this 30th day of March, 2000.
36 INDEPENDENT AUDIT REPORT TO THE MEMBERS
Scope
I have audited the financial statements; being the Statement by Directors, Profit and Loss Account Balance Sheet, Statement of Cash Flows and notes to and forming part of the financial statements of Skiing Australia Limited for the accounting period ended 31st October, 2000. The financial statements include the accounts of the company and the entity that it controlled at the accounting period's end or from time to time during the accounting period. The Company's Directors are responsible for the financial statements. I have conducted an independent audit of these financial statements in order to express an opinion on them to the members of the company.
Our audit has been conducted in accordance with Australian Auditing Standards to provide reasonable assurance as to whether the financial statements are free of material misstatements. Our procedures included examination on a test basis, of evidence supporting amounts and other disclosures in the financial statements, and the evaluation of accounting policies and significant accounting estimates. These procedures have been undertaken to form an opinion as to whether, in all material respects, the financial statements are presented fairly in accordance with Accounting Standards and other mandatory professional reporting requirements (Urgent Issues Group Consensus Views) and statutory requirements so as to present a view which is consistent with our understanding of the company's and company's financial position, the results of their operations and their cash flows.
The audit opinion expressed in this report has been formed on the above basis.
QUALIFICATION
Going concern basis
The parent company is dependent upon its ability to attract sufficient income in the form of grants, sponsorship and donations for its ongoing viability. Without such support, the parent company would be unable to continue as a going concern and it may be required to realize its assets other than in the normal course of business and at amounts different from those in the financial statements. In my opinion, knowledge of this uncertainty affecting the parent company's ability to continue as a going concern, is necessary for a proper understanding of the financial report.
37 Qualified Audit Opinion
In my opinion, except for the effects on the financial statements of the matter referred to in the qualification paragraph, the financial statement of Skiing Australia Limited are properly drawn up:
(a) so as to give a true and fair view of:
1 . the state of affairs as at 31st October 2000, and of the profit and cash flows for the accounting period ended on that date of the company and the company; and
2. the other matters required by Division 4, 4A and 413 of Part 3.6 of the Corporations Law to be dealt with in the financial statements;
(b) in accordance with the provisions of the Corporations Law and
(c) in accordance with applicable Accounting Standards and other mandatory professional reporting standards.
Humphreys Tobias and Associates 260 Auburn Road Hawthorn Vic 3122 30th June 2000
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