Sydney Cricket & Sports Ground Trust Annual Report 2008/09

2008/09 Sydney Cricket & Sports Ground Trust Annual Report 2008/09 table of contents

Minister’s Foreword ...... 1 Chairman’s Report ...... 2 Managing the Events ...... 4 Commercial ...... 11 Major Projects ...... 13 Service Providers ...... 14 Managing the Assets ...... 15 Business Development ...... 20 Corporate Services Financial Report ...... 22 Human Resources...... 29 Information Technology ...... 31 Organisational Chart ...... 32 Trustees ...... 33 Trust Charter and Constitution ...... 36 Trust Meetings ...... 37 Statutory Audit Report ...... 38 Statement by Members of the Trust ...... 39 Audited Financial Statement and Notes ...... 40 Ethnic Affairs Priorities Statement ...... 82 Code of Conduct ...... 83 Complaints Handling/Privacy Policy ...... 86 Freedom of Information ...... 88

2008/09 ANNUAL REPORT minister’s foreword

The year marked the official The Trust is to be acknowledged opening of the Sheridan Building, on reaching agreement with the new Trust administration Sydney FC for the continued building named in honour of Philip staging of home games at the SFS Sheridan, first appointed in 1875 until 2016 and also on securing as one of the original Trustees at agreement with the Wests Tigers the SCG. NRL Club who will stage home matches at the SCG/SFS. The Sheridan Building includes office accommodation for the Following the inception of the Basil headquarters of Sydney FC, AFL Sellers Sports Sculptures Project (NSW/ACT) and FanFirm, joining last year, a number of outstanding I am pleased to provide this each of the Trust’s major Sports sporting identities have been foreword for the Annual Report Partners now based within the honoured at the SCG and of the Sydney Cricket & Sports precinct. Another major initiative SFS. During the past year Dally Ground Trust for the year ended is the opening of the Stadium Messenger and Fred Spofforth 28 February 2009. The Trust Orthopaedic & Sports Medicine joined Richie Benaud as the first is to be congratulated on its Clinic. of a select group of sportspeople achievements and initiatives in the to be acknowledged in this past year. The SCG and SFS hosted a strong way. The legendary barracker program of events with over Yabba (Stephen Gascoigne) also The Sydney Cricket Ground and one million spectators attending became a permanent feature at the Sydney Football Stadium Test and one day international the SCG following the unveiling offer outstanding facilities for cricket, rugby union, rugby league, of his sculpture in the new Victor patrons and players and continue AFL and the football A-League Trumper Stand. each year to host a broad range competition. Highlights over the of sporting and entertainment past year included: the Australian I note the Trust’s role in supporting events. Cricket team’s New Year’s Test a number of community and win against South Africa, the charitable events during the year The Trust undertook an extensive men’s and women’s Twenty20 including the McGrath Foundation $58.8M capital works program in International double-header and the inaugural Jane McGrath 2008/09 which culminated in the between Australia and New Day (celebrated on Day 3 of the completion and opening of the Zealand; the NSW SpeedBlitz Test Match), Australia’s Big Bash magnificent new Victor Trumper Blues winning the 2008 Pura Celebrity Twenty20 game in aid of Stand on the site of the old ‘Hill’ at Cup Final; the NSW Breakers the Victorian Bushfire Appeal and the Sydney Cricket Ground. completing an undefeated season the induction of nine of Australia’s winning the 2008/09 Women’s greatest ever rugby league players The new Stand, which was National Cricket League Final; the as Life Members of the SCG. officially opened in December Sydney Swans reaching the AFL 2008, was partly financed through finals series; the Centenary Rugby I particularly acknowledge the a successful partnership between League Test between Australia efforts of the Trust Chairman, the Trust and the State and and New Zealand at the SCG, Rodney Cavalier, his deputy John Federal Governments who jointly the 2008 Rugby League World Cloney, their fellow Trustees and contributed grants totalling $50M Cup games at the SFS, Sydney management, during the past for the redevelopment. The $82M Roosters reaching the NRL finals, year. Victor Trumper Stand provides the SFS hosting the two NRL first class public and corporate Preliminary finals and Sydney FC, facilities for patrons attending THE HON KEVIN GREENE MP a semi finalist in the A-League. cricket and football events at the Minister for Gaming and Racing SCG. Minister for Sport and Recreation

SYDNEY CRICKET & SPORTS GROUND TRUST 1 chairman’s report

The Trust exists to serve the glory every spectator who has been to Cathy Weiszmann, an artist with of sport. Even in the course of a our grounds. The unveiling was an intuitive feel for the essence of serious economic downturn, with performed by General Mark Kelly, her subject. so many of our members and Land Commander at Victoria the sporting public compelled to Barracks. Rugby league celebrated its restrain their spending, the Trust centenary. To celebrate the met its mandate and maintained a An official opening was performed first league international, a Test profit. Anyone making one dollar by the Prime Minister, Kevin Rudd, was played at the SCG against more than they have to spend and the Premier, Nathan Rees. New Zealand. It was a splendid is doing heroically in present Both men delivered exceptional occasion, nine of Australia’s circumstances. speeches. The Stand, completed greatest ever league players months earlier, enjoyed its first were inducted as Life Members Although there was much sadness serious testing on the first day of the SCG. Noel Kelly earned about the final disappearance of the Test Match against South a reputation as the hardest of of the Hill, in truth its character Africa. The Steve Waugh Room players. He cried that night at the was lost long ago when the established itself that day as a honour the Trust had conferred Government insisted that seating desirable location for lunches and on him. The event was tinged with replace the grassy slope. That dinners, not necessarily with a sadness when news reached the sadness can now be replaced by sports orientation. The ceremony Ground that Jack Gibson had the pleasure of seeing or sitting that day heard appropriate died just before the kick-off. The in a stand named after Victor recognition paid to John Howard Ground reverberated the retelling Trumper, the greatest cricketer of and Peter Costello, Morris Iemma of thousand of stories about Jack his age, a founder of the rugby and Michael Costa, leaders and before falling totally silent in a league, an inspiration on and treasurers at the time the critical minute of silence in his honour. off the field for a generation of decisions needed to be made. sportspeople. His death in 1915, The same ceremony heard The opening ceremony of the at age 37, was like a death in tribute paid to Rod Kemp, then Rugby League World Cup took the family. In an Australia not Federal Minister for Sport, who place at the Football Stadium. lacking in causes for grief, Sydney approached Jamie Barkley and A big crowd saw Australia take stopped for the funeral of a man myself at an AFL Grand Final care of New Zealand. The Sydney about whom no unflattering story lunch to ask “why don’t you Roosters finished fourth. Wests has ever come to pass. blokes ever ask for money?” Tigers made the SFS one of their three home grounds. The In the course of its construction The Basil Sellers Sports Sculpture Foundation Cup between the we had many moments to Project moved along well. Dally Sydney Roosters and the Wests commemorate what was ahead. Messenger was unveiled by the Tigers had its third outing. The The Stand gained its name, then Premier Morris Iemma. He SFS staged a qualifying final the internal rooms and facilities is the first of four subjects who between the Roosters and were named after Arthur Morris, will stand in the forecourt of the Broncos, then both preliminary Doug Walters and Steve Waugh. Football Stadium. The Demon finals on consecutive nights. To celebrate its first public use, Spofforth was unveiled near the the Trust staged an open day practice nets on the third day of Our period of coverage includes on Vic’s birthday (2 November) the Test Match. Richie Benaud, the end of the 2008 Super 14 complete with a play written for our first subject, performed the season when NSW travelled the occasion in which Vic and unveiling. Richie asked not to be to Christchurch to take on the Dally Messenger returned to the told the identity until a day or so mighty Crusaders in the final. Ground to see their old mate before; his speech indicated the NSW had finished second in the Yabba unveiled. The sculpture of depth of his prior knowledge. season. NSW lost after taking Yabba is a tribute by the Trust to Both sculptures were the work of an early lead. They played well.

2 2008/09 ANNUAL REPORT The match was the last for the one year earlier against India. The Two significant paintings from the Crusaders under the ministrations Australians did a lot more that 19th century were discovered and of Robbie Deans who started his afternoon than claim a victory. restored. career as Wallabies coach the day The crowd was a record for Test following. The 2009 season was a Matches against South Africa. The Trustees acknowledged the disappointment for the Waratahs. passing of Graeme Pash, Norm Coming fifth and so nearly making The Trust staged its traditional O’Neill, Bill Brown, Jack Gibson, it was remarkable. Phil Waugh and breakfast before the start of play. Jack Rayner and Dr Roger David Lyons brought up their 100 Nine members with 70 years Vanderfield. games for NSW. membership were inducted. The Test Match raised over $500,000 I thank the Trustees for their Football (aka soccer to anyone for the McGrath Foundation. loyalty, service and distinctive who understands that football is Glenn McGrath was moved by the contributions. John Cloney has a generic word) enjoyed many generosity of the SCG crowds. again given stalwart service as games. Australia played Ghana in NSW won the Sheffield Shield for Deputy: a major identity in world a friendly. Sydney FC missed the 2007-08. The final reflected the insurance with many demands on finals for the first time in the four- domination of NSW through the his time, one never doubted the year history of the A-League. regular season. centrality of the Trust in his heart.

The Sydney Swans continued to The Trust expended $58.8M I thank our Chief Executive perform well on their home ground on capital works, its largest Officer, Jamie Barkley, for his total winning five of their seven games construction program since the devotion to his task and for efforts at the SCG. They reached the completion of the SFS. Trust above and beyond the call. His finals for the sixth consecutive staff moved into a purpose-built approach to the job occasions year. Michael O’Loughlin became office. We named the three-storey interest from sports ground a Life Member of the AFL for building after Philip Sheridan, managers around the world. The being the first Sydney Swans a foundation Trustee and its clue to his success is the clue to player to play all of his games in driving force in the early years. the Trust’s success, it is the clue the red and white. The building is generating rental to why the Trust has prospered for income. The tenants are Sydney this century and a half and more. Yet again the Test Match in FC, the AFL (NSW/ACT), FanFirm, We are more than a business. We January was sublime. The match Sydney Orthopaedic & Sports are building on the shoulders of lasted for just over an over short Medicine Centre. Event day giants. We are ever conscious of of five days. It began a day later facilities for the police and medical those who came before us. We to give the players a longer break staff are housed there. honour those who have played after Melbourne. Australia had and worked here long before any already lost the series against The SCG lengthened by about of us ever came. I thank all the South Africa. The selectors three metres as part of the staff for their dedication. brought in new players. Australia Trumper Stand redevelopment. was clearly at the start of a new The centre wickets hosted 34 It has been a privilege to be able era, that new era did not have matches over 53 days, a heavy to serve. to mean the end of a long-time use indeed. The SFS playing dominance. The Australian players surface was in premium condition. revealed a new dedication to the Always our staff are conscious RODNEY CAVALIER task at hand, denied South Africa we are in the business of growing a clean sweep and took one grass. back. The acceptance of victory RODNEY CAVALIER AO was a gracious affair in contrast Our Museum hosted an exhibition Chairman to the self-centred celebrations of league’s years at our grounds.

SYDNEY CRICKET & SPORTS GROUND TRUST 3 MANAGING THE EVENTS CRICKET

Australia v South Africa Test Match, Day Five – Wednesday 7 January 2009

4 2008/09 ANNUAL REPORT International Cricket There was strong Member NSW Cricket support every day of the Test The Australia v South Africa Test The SpeedBlitz Blues won the Match with a total of 120,971 Match from 3-7 January proved Pura Cup Final for the 2007/08 patrons attending the event. The to be one of the most exciting season defeating Victoria in the aggregate attendance was a contests of the series. With final at the SCG. record for Australia v South Africa the match lasting five full days, Test Matches at the SCG. Australia claimed an exciting late Success eluded the Blues in 2008/09, however a number of victory when Mitchell Johnson The Test Match was the first major young players had the opportunity took the final wicket of an injured occasion to use the facilities and to develop their game. In South African captain, Graeme services of the Victor Trumper particular, 20 year old opening Smith. The thrilling end to the Stand. Providing spectators batsman Phil Hughes who was game was testament to both sides with outstanding views of the promoted to the Australian team in and their competitive spirit and playing field and a new level of February. skill. amenity and comfort, the Stand sets a high standard for the SCG The Test Match went pink in NSW hosted the New Zealand while honouring one of the finest support of the Jane McGrath side for a four day Tour Match cricketers Australia has ever Foundation. Members and which was an exciting opportunity produced. patrons were encouraged to for the NSW team. wear pink each day and raised Three One Day International over $500,000 for the Foundation games were staged with over SCG Country Cup through a variety of initiatives. The 89,000 patrons attending. The The SCG was proud to host sea of pink present in the stands final of the 2007/08 One Day the SCG Country Cup Final on was a tribute to Jane McGrath Series between Australia and Sunday 18 January. Originally and the work of the Foundation India was staged in early March starting with 83 teams, the two and ensured the Test Match was and attracted a crowd of 31,446 to reach the final were Tamworth memorable for spectators and patrons. India came away winners District Cricket Club and Stockton players. in this match. In the 2009 One Northern District (Newcastle). Day Series, Australia defeated Off field highlights included the South Africa and New Zealand. unveiling of the third subject In an exciting match, Tamworth recorded a 53 run victory over in the Basil Sellers Sports The Twenty20 International game Stockton in a final that showcased Sculptures Project on day three between Australia and New some great cricketing talent. of the Test Match. Fred ‘The Zealand in February was one of Demon’ Spofforth was considered the highlights of the calendar. Australia’s first true fast bowler In an agonisingly close game, and one of the greatest ever Australia won by the closest of pacemen. This prominent figure margins - one run. has been immortalised in bronze and stands proudly near the practice wickets at the SCG.

SYDNEY CRICKET & SPORTS GROUND TRUST 5 MANAGING THE EVENTS AFL

Sydney Swans

The Sydney Swans put in another excellent performance in 2008 making the finals for the sixth consecutive year.

Seven games were held at the SCG with an average attendance of 25,387 with reduced SCG capacity (due to the Victor Trumper Stand development).

The Sydney Swans celebrated their 1000th Club win on Sunday 1 June at the SCG defeating Richmond Tigers by 82 points.

On a special day in the Club’s history Michael O’Loughlin added another milestone to his list; becoming the first player drafted by the Sydney Swans to play his entire career in red and white and earn automatic AFL Life Membership.

The Swans did not disappoint fans and again performed well at home, winning five of their seven appearances. The game which attracted the largest home crowd of the year was against Western Bulldogs, which drew over 29,000 patrons (with reduced capacity due to construction of the Victor Trumper Stand).

The Sydney Swans continue to enforce their home ground advantage at the SCG.

Sydney Swans v Port Adelaide – Sunday 30 March 2008

6 2008/09 ANNUAL REPORT MANAGING THE EVENTS SPECIAL EVENTS

Australia’s Big Bash Celebrity Twenty20 Game Steve Waugh and Mark Taylor returned to their glory days at the SCG as captains of respective teams in Australia’s Big Bash Twenty20 Match on Sunday 22 February.

The event was staged by the Trust in partnership with Cricket NSW to raise funds for the Victorian Bushfire Appeal.

Combining a mix of past and current players with a wide range of celebrities, politicians and players from other sporting codes, the event provided great entertainment.

Fans witnessed some well-known personalities playing the game in honour of those who suffered loss in the bushfires.

The event was a major success and Steve Waugh’s team was victorious thanks to some lofty hitting by David Warner and Matt Hayden.

With the event raising over $200,000 for the Appeal, it was a memorable day where Australia’s elite sportsmen and women, performers and entertainers came together in support of a very worthy cause.

Australia’s Big Bash Celebrity Twenty20 Game – Sunday 22 February 2009

SYDNEY CRICKET & SPORTS GROUND TRUST 7 MANAGING THE EVENTS RUGBY UNION

NSW Waratahs The NSW Waratahs had an outstanding year on field finishing runner-up in the Super 14 competition.

They played six regular season matches at the Sydney Football Stadium, with an undefeated record at home. Average attendance at Waratahs games was 24,366, with a total attendance just over 146,000.

Earning a home semi-final at the SFS ensured a crowd of more than 37,000 to cheer the team on to victory over the Sharks and a berth in the final. The match also doubled as Trust Ambassador Phil Waugh’s 100th match for the Waratahs.

Pacific Nations Cup Australia A played New Zealand Maori in the International Rugby Board Pacific Nations Cup at the SFS on Sunday 6 July. A try by New Zealand Maori in the last two minutes saw them secure the game 21-18.

Waratahs v Brumbies In the 2009 pre-season the Waratahs hosted the Brumbies at the SFS. The Waratahs won 17-14 which proved to be an important step in preparation for the 2009 Super 14 season.

NSW Waratahs v Brumbies – Friday 7 March 2008

8 2008/09 ANNUAL REPORT MANAGING THE EVENTS RUGBY LEAGUE

Sydney Roosters Centenary Test The Sydney Roosters had a It was an historic year for rugby successful season in 2008 league as the code celebrated its finishing fourth on the table. Centenary year. The SCG hosted There were many highlights the Centenary Test between witnessed by fans as they Australia and New Zealand on watched the Roosters climb the Friday 9 May. Over 32,000 NRL ladder. spectators watched Australia defeat New Zealand A highlight this year was defeating 28 - 12. eventual Premiers Manly- Warringah Sea Eagles 34-12 in Round 20 of the NRL Premiership. Rugby League There were 22,681 patrons in World Cup attendance for this match. In the rugby league’s centenary year, league’s greatest prize, the Wests Tigers Rugby League World Cup was staged in Australia. The Trust was pleased to host two of the Wests Tigers home The Opening Ceremony and first games in 2008 against St George match for Australia was staged at Illawarra Dragons and South the SFS on Sunday 26 October. Sydney Rabbitohs. This was a fantastic opportunity for Members There were over 30,000 to see the skill of Wests Tigers. spectators on hand to see Australia open their World Cup campaign with a convincing win NRL Finals Series over arch rivals New Zealand The SFS staged a gripping 30 - 6. The second game played Qualifying Final between Sydney at the SFS was the semi-final Roosters and Brisbane Broncos where Australia defeated Fiji 52-0. where the Broncos came from behind to win. Foundation Cup The SFS staged both Preliminary February 2009 was the third year Finals on consecutive nights with of the Foundation Cup clash the Sea Eagles defeating New between the Roosters and Wests Zealand Warriors and Melbourne Tigers. The match was hotly Storm defeating the Cronulla contested, with the Wests Tigers Sharks. It was a great double for hanging on for a well earned Members and NRL fans. victory. Both clubs fielded full strength teams underlying the importance of the Foundation Cup in their seasons preparation.

Centenary Test Friday 9 May 2008

SYDNEY CRICKET & SPORTS GROUND TRUST 9 MANAGING THE EVENTS FOOTBALL

Sydney FC After bolstering its squad with high-quality recruits, Sydney FC looked set for a big season in 2008/09.

At one point it seemed little could stand in the way of the inaugural A-League champions, however a series of injuries and losses led to an unfamiliar path for this experienced team.

Persistent injury problems forced Sydney FC skipper, Tony Popovic to bravely hang up his boots. Steve Corica was named as successor adding ‘Club Captain’ to an already glittering career resume.

Sydney FC played a total of 10 home games at the SFS this season. Over 120,000 patrons attended these fixtures with an average crowd of just over 12,000.

Despite Sydney FC having a disappointing year, not making the finals series for the first time since the commencement of the A-League, the future looks bright with a new generation of players coming through the ranks.

Soccer International The Socceroos took on the might of African football in a friendly match with Ghana on Saturday 24 May at the SFS. Just under 30,000 spectators witnessed new Australian Coach Pim Verbeek’s team defeat Ghana 1 – 0 in an exciting contest.

Sydney FC v Adelaide United – Saturday 20 September 2008

10 2008/09 ANNUAL REPORT Commercial

Security and Access Along with this training the Event Attendances following measures have been The demand for security at the implemented: Eighty five major event days and Trust has increased with the • A review and update of the just over 1.1M patrons attended the opening of the Sheridan Building emergency management SCG and SFS in 2008/09. and its associated tenants, procedures by the Emergency together with the completion 1 March 2008 – 28 February 2009 Management Planning of the Victor Trumper Stand. SYDNEY CRICKET GROUND & Committee Expansion of the access card SYDNEY FOOTBALL STADIUM • Formation of an evacuation system across various areas of agreement with Fox Studios the business has been rolled * International and Centennial Parklands at the out successfully in the past 12 Test Match Cricket 120,971 completion of the new Victor months. * One Day Trumper Stand (includes the Bill International Cricket 90,265 Changes in the security industry O’Reilly Stand) NSW SpeedBlitz Blues demanded all security staff • Conducting annual evacuation Ford Ranger Cup 2,388 complete a re-licensing phase. exercises for all site offices This has been a significant and tenants including the new NSW SpeedBlitz Blues undertaking, particularly given the Sheridan Building Sheffield Shield 17,003 complex nature of regulations. • Regular consultation with Twenty20 22,101 insurer Treasury Managed Celebrity Twenty20 20,330 Security staff have been exposed Fund and third party claim to scenarios and drills working representative Proclaim * Sydney Swans 177,809 closely alongside the Department Management Services for NSW Waratahs 212,726 of Defence, NSW Police Anti- claims and activities across the NRL Finals Series 78,008 Terrorism Group and the business. Sydney Roosters 153,466 Australian Federal Police who have worked in the venue at different The Trust continues to review Wests Tigers 37,333 times throughout the year. and improve risk management Foundation Cup 8,716 functions with onsite tenants, Rugby League World Cup 50,012 Sports Partners and contractual Risk Management agreements to ensure OH&S * Centenary RL Test 34,571 The Trust has increased the standards are kept high and Pacific Nations Cup 8,541 capacity for risk identification and reflect the professional nature of Sydney FC 123,721 the Trust’s programs. mitigation with a number of staff Soccer International 29,914 enrolling in a security and risk management qualification. SCG & SFS Totals 1,187,875 SCG Tour Experience 7,006 This nationally recognised qualification will allow some Stadium Fitness security staff to become qualified Centre Total 258,889 security risk consultants adding Total 1,453,770 further skills, depth and valuable knowledge to the security team. * SCG capacity reduced in 2008

SYDNEY CRICKET & SPORTS GROUND TRUST 11 Medical Incident summary 2008/09

08 08 08 08 08 08 08 08 08 08 09 09 Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Totals

Event Day 44 19 22 17 6 20 9 8 10 3 112 8 278 Non-event Day 0 0 0 0 0 0 1 0 0 0 0 0 1 Total Number of Incidents 44 19 22 17 6 20 10 8 10 3 112 8 279

Patient Profile

Patron 38 13 22 15 6 17 9 8 9 1 92 8 161 Staff – Trust 1 5 0 1 0 1 1 0 1 1 7 0 24 Staff – Contractor 2 1 0 1 0 2 0 0 0 1 13 0 37 Staff – Not Defined 3 0 0 0 0 0 0 0 0 0 0 0 5

08 08 08 08 08 08 08 08 08 08 09 09 Type of Injury Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Totals

Abrasion 2 1 0 1 1 0 0 0 3 0 6 0 14 Breaks/Fractures/ Dislocations 1 0 1 1 1 1 0 1 0 0 1 0 7 Burn 2 0 1 1 0 0 0 0 0 0 3 0 7 Dehydration/ Sunburn/Heatstroke 2 0 0 0 0 0 0 0 0 0 3 7 12 Fainting/Dizziness 2 0 1 1 0 0 0 0 0 0 5 0 9 Headache 8 2 4 4 1 1 3 0 0 0 27 0 50 Laceration 5 3 3 2 0 5 4 1 1 0 15 0 39 Pain (Chest/Abdominal/ Appendage) 0 2 1 2 0 2 1 0 0 0 2 0 10 Pre-existing 7 8 6 3 1 3 1 5 3 1 14 0 52 Soft Tissue Injury 4 2 2 0 2 2 1 1 2 2 12 0 30 Vomiting/Nausea 4 0 0 0 0 1 0 0 1 0 8 1 15 Other 7 1 3 2 0 5 0 0 0 0 16 0 34

Hospitalisation

No 44 18 18 12 6 19 8 6 10 2 97 7 247 Yes 0 1 2 5 0 1 2 1 0 1 2 1 16 Referred to Doctor 0 0 2 0 0 0 0 1 0 0 13 0 16

Cause of Injury

Pre-existing 7 8 6 3 1 3 1 5 3 1 24 1 63 Slip and Fall 1 0 2 0 2 1 2 1 2 0 6 0 17 Trip and Fall 1 0 1 3 0 1 1 1 3 1 5 0 17 Sun/Heat Exposure 2 0 1 0 0 0 0 0 0 0 12 7 22 Other 16 4 8 5 1 5 0 1 0 1 24 0 65 Unknown 17 7 4 6 2 10 6 0 2 0 41 0 95

Total 44 19 22 17 6 20 10 8 10 3 112 8 279

12 2008/09 ANNUAL REPORT MAJOR PROJECTS

Moore Park Car Park Management The Trust continues to operate the Moore Park carparks under licence with the Centennial Park and Moore Park Trust.

We remain in discussions with Centennial Park and Moore Park Trust about extending the terms of this arrangement while improving the open space and use by the local community.

Transport, Traffic and Access The Trust continues to support new initiatives to improve traffic and transport in the precinct.

Good working relationships with the NSW Police, Roads and Transport Authority, City of Sydney, State Transit Authority, Centennial Park and Moore Park Trust and the Premier’s Department have continued to be of benefit in moving forward with change in these areas.

Among these, trial of the ‘No Left Turn’ from Moore Park Road into Anzac Parade was conducted in February to assess improvements to egress after events for vehicular and pedestrian traffic.

New MP1 Signage

SYDNEY CRICKET & SPORTS GROUND TRUST 13 Service Providers

Non-Event Day Event Day Catering Cleaning Catering All Leisure Hospitality is in its The Trust introduced new During the first half of 2008 third year of a five year contract measures to improve tracking of the Trust recognised a need to for event day catering. They waste and recycling produced improve the non-event day function continued to perform well in 2008 on site in a bid to increase business, particularly in light of providing high quality catering environmental efficiency. new facilities in the Victor Trumper services to patrons, Members and Stand being completed. corporate clients. These results The introduction of a recycled were delivered while overcoming waste compactor resulted in As a result of the review, a new the challenges associated with the positive outcomes towards joint-venture with Restaurant reconfigured SCG. minimising waste and increasing Associates was agreed as a recycling. The waste compactor more effective management The Trust maintained its position takes all recyclable plastic and approach. The new venture known of competitive pricing with other paper materials from events, as Stadium Events commenced major stadia, retaining lower or functions and day-to-day waste operation on 1 August. matching prices on key line items. ensuring significant cost savings over the year, and importantly an In its first seven months, Stadium The Victor Trumper Stand was increase in responsible recycling. Events increased non-event successfully brought on-line function business at the SCG and and provides world class public In the past 12 months these new SFS by 184%. catering outlets and corporate strategies improved reporting function rooms. accuracy and recorded an overall Azure Catering is in its second increase of over 100% of recycled year of a five year contract with the Ticketing waste on previous years. In total, Trust to provide catering services over 160 tonnes of material has to Members. Ticketing services to our Sports been recycled. Partners and patrons is central to Member attendance on event and the Trust’s business. Over 825,000 non-event day continues to thrive tickets were sold across both Merchandising having a positive impact on Azure’s venues in 2008, which is testament Playbill, now in its third year of a business. Members and Sports to Ticketek’s distribution network five year contract with the Trust to Partners enjoy the surrounds and its capabilities given the provide merchandising services, offered by the Café in addition to current economic climate. performed well in 2008. the quality and service provided by the staff and the ambience of the Ticketek provided significant They continued to show flexibility indoor – outdoor space. support to the bushfire relief and and leadership in providing a Australia’s Big Bash Twenty20 broad range of home team and game. Trust Member merchandise.

14 2008/09 ANNUAL REPORT MANAGING THE ASSETS

Capital Works Program The Trust’s capital works program in 2008/09 totalled $58.8M and was the largest since the construction of the SFS in 1988. It included the development of some outstanding assets which will benefit users, spectators, players and the general public for generations to come.

Sheridan Building The Sheridan Building was officially opened by the Hon Graham West, MP, Minister for Gaming and Racing, Minister for Sport and Recreation on 29 August. The total development cost was $10.5M.

The new three-storey office building with a gross floor area of some 3,500m2 was constructed in the north-west corner of the SFS facing Moore Park Road.

The Sheridan Building named in honour of one of the first Trustees Philip Sheridan, provides new administration headquarters for the Trust, AFL (NSW/ACT), Sydney FC and FanFirm. The ground floor accommodates The Stadium Orthopaedic & Sports Medicine Centre and SFS event day facilities for police, medical services and staff.

The Sheridan Building has a rainwater tank for toilet flushing and garden hosing. The building contains low energy light fittings and louvres to the northern and western facades restricting unwanted direct sunlight in summer. New Sheridan Building

SYDNEY CRICKET & SPORTS GROUND TRUST 15 MANAGING THE ASSETS Continued

Victor Trumper Stand The key project team included: • MI Associates The Victor Trumper Stand was Principal Advisor officially opened by the Hon • Cox Robertson & Marks Kevin Rudd, MP, Prime Minister Joint Venture Architects of Australia, and the Hon Nathan • Arup/Rooney & Bye Rees, MP, Premier of New South Joint Venture Structural Wales on 13 December. Engineers Completion of the Stand • APP Corporation provided much needed spectator Project Manager improvements to the SCG. Over • AW Edwards three levels, the Stand has 11,908 Builder seats with 8,000 undercover, increasing the SCG seating Other Projects capacity to approximately 46,000. The following projects were completed as part of the 2008/09 Facilities include: capital works program: • Access to all spectator levels • SCG Lighting Upgrade: from the Driver Avenue Completion of the upgrade to Gate E entrance via stairs, the six light towers increasing escalators and lifts the lighting level on the field • Catering: 12 permanent public from 1500 lux to 2000 lux while food and beverage outlets and reducing energy consumption eight temporary outlets by 30% • An increase in public amenities • SFS Video Screen: A new full to 140 toilets and 102 urinals colour video screen (92m2) to • Three retail merchandise outlets the northern end of the SFS • Sixty one wheelchair spectators replacing the ten year old spaces and six accessible screen (50m2) toilets / parents’ rooms. • Members Facilities Upgrade: Refurbishment of seven toilets The Trust is committed to in the SFS level 2 operating, maintaining and • Corporate Facilities Upgrade: further developing the SCG in Refurbishment of eight toilets, a sustainable manner. During eight private suites, corporate the construction of the Victor suite entries and corridors and Trumper Stand, 2,391m3 of waste eastside dining level 2 was generated of which 80.8% • SCG Picket Fence was recycled, reused or diverted • Basil Sellers Sport Sculptures to landfill. Longer term benefits Project: Dally Messenger include the 50,000 litre rain water (SFS) and Fred ‘The Demon’ tank used to flush toilets. Spofforth (SCG). • The ‘Yabba’ sculpture on the concourse in the Victor Trumper Stand.

Fred ‘The Demon’ Spofforth

16 2008/09 ANNUAL REPORT SCG Playing Field The 2007/08 cricket season ended on Saturday 15 March. Renovation works commenced immediately for the AFL season.

Renovations for the cricket season commenced on Saturday 30 August. During the 2008/09 cricket season 34 matches were scheduled over 53 days. These comprised: • Australia v South Africa Test Match (five days) • Five One Day Internationals (one day men and women) • Four Sheffield Shield games (four days) • Three State games (one day) • Twenty one non-first class games (one day)

SFS Playing Field The playing surface of the SFS was in premium condition for the 2008 season with full and stable grass coverage.

The policy of the Trust is to returf the playing field annually with couch grass and then to oversow with rye seed during the season. This provides a no risk approach for a turf surface that now hosts games and training through the entire year.

The renovation window available in 2008 was between the Sydney FC games held on Friday 28 November and Sunday 21 December. A short period when compared to the available summer seasons of the past prior to commencement of the A-League competition. Australia v Ghana, International Football – Friday 23 May 2008

SYDNEY CRICKET & SPORTS GROUND TRUST 17 MANAGING THE ASSETS CONTINUED

Occupational Health These procedures are subject to • Grease trap upgrades and Safety ongoing monitoring and evaluation • Lift upgrades including review by senior • Extended CCTV system The Trust actively seeks to management. • Air conditioning replacements promote and maintain a safe • Painting of white roof steelwork environment for all staff and On review of the OH&S at the SFS visitors. The main forum for Management System records, • Plant and equipment consultation is the OH&S there has been a decline in acquisitions Committee. Representatives the number of workplace and • IT infrastructure from each Trust department patron injuries and incidents • New point of sale and turnstile and contractors on-site meet over the last financial year. This systems bi-monthly to review all issues reflects the value of an effective • New PABX and MDF systems relating to occupational health and hazard identification and risk safety. management approach including consultation arrangements Conservation The Committee participates in designed to maintain a safe and Management Plan the development of a safe and healthy working environment. healthy work environment. It In July 2007 a Heritage Asset monitors measures taken to Management Strategy (HAMS) ensure the health and safety of Total Asset was prepared for the Trust. The staff and visitors, and reviews any Management Plan HAMS is available on the Trust’s safety issues and/or incidents website. Flowing from this a The Trust undertook a full Conservation Management that may possibly arise or have condition and compliance occurred. On alternate months Plan (CMP) for the SCG/SFS inspection of the SCG, SFS and site commenced. The CMP the Committee conducts an associated buildings and grounds inspection of a designated area was prepared to provide a in 2008. The audit forms the framework for the ongoing care on site to establish and rectify basis of the Trust’s Total Asset potential hazards. and management of the SCG, Management Plan reporting SFS and associated buildings The Trust supports the OH&S to NSW Treasury and from and grounds including decisions Committee in its role to review these inspections maintenance about conservation, use and policies, procedures and changes and capital investments are development. A draft CMP was in legislation, while keeping determined and prioritised. completed in 2008. employees informed of any The completion of the condition changes through the distribution The CMP examines the history of and compliance inspection also the SCG/SFS site and describes of meeting minutes and inspection enabled the Trust to prepare reports. the major components of the a detailed sustainability plan site. The analysis compares the Significant progress has been encompassing the areas SCG/SFS site to other capital made on the Trust’s new OH&S of energy, water and waste city cricket and football grounds Management System with policies consumption. in Australia. The significance is then determined through the and procedures implemented to Capital investments included in the application of established criteria, ensure ongoing compliance with 2008/09 capital works program culminating in a statement of Government legislation. included: significance for the site and a grading of components.

18 2008/09 ANNUAL REPORT After a discussion of constraints and opportunities, including client requirements for the SCG / SFS site, the policies for ongoing management of the site were formulated.

SCG Museum The Museum stepped up its exhibition program during 2008 to highlight a number of significant events.

A large exhibition celebrating the history of rugby league at the SCG was mounted in the league’s centenary year; a Victor Trumper display coincided with the opening of the Stand, and a diverse range of modern South African cricket material was displayed during the Test Match.

Many of the items in these exhibitions were loaned to the Museum, which the Trust views as recognition of the Museum’s profile.

Conservation remains an important facet of the Museum’s agenda, with work completed on two significant and valuable paintings. The oral history project is continuing, with a sample of Trevor Allan’s interview available on the Trust website.

Rugby League Exhibition at the SCG Museum

SYDNEY CRICKET & SPORTS GROUND TRUST 19 Business Development

The Business Development Sydney Cricket Ground This helped achieve the goal of unit comprises two distinct yet stable Member numbers while The strength of the SCG event connected divisions – a Sales surpassing commercial targets. schedule, the success of our and Marketing division and a Platinum membership in particular Sports Partners, the quality of the Membership division. far exceeded expectations. competing teams and completion of the Victor Trumper Stand, with Sponsorship, Exclusive its superior corporate facilities, Marketing Supply and Advertising made for an exciting year. As Late in 2008 the Trust conducted Rights a result, sales although down an Expression of Interest for all The Trust’s advertising and on expectations, were able to marketing and printing services. sponsorship program continued to withstand the onset of the global generate significant income from financial crisis. The result of this process the corporate sector. As a result identified a professional of the support and work of our Sydney Football Marketing Services Agency as the partner Moore Sports Advertising, Stadium recommended supplier – Frontier the Trust again achieved strong Media. The process and selected The sale of annual facilities at revenue results. agency provide a full range of the SFS provided a challenge services at a reduced expense to The Trust maintains strong throughout 2008/09. Despite the Trust. partnerships with Foster’s premium teams and a variety of quality events over the course of Australia, Coca-Cola Amatil, Membership Services Fairfax, TABCorp, the Motor the year representing good value Accidents Authority, Qantas, to corporate clients, financial As part of the Trust’s ongoing Vodafone, UD Trucks, Gray’s commitments were satisfactory. commitment to value-add to Online, Ticketek, Diageo, Tyrrell’s, membership, a number of Samuel Smith & Sons and Gold and Platinum activities and offers were extended Samsung, as well as welcoming Membership Sales to Members throughout the year. new partners Macquarie Bank and Social events on match days Visa. Membership sales were driven by included the Test Match Breakfast, the continuation of the successful Breakfast with the Curator, 50 - 70 Member-get-Member and Year Member Induction function, Hospitality Member Upgrade programs. Country Member Reception and The quality and quantity of Stumps Sessions. The Trust focused on offering corporate clients who have Members opportunities to invested in hospitality packages is Members continue to receive upgrade their existing membership a positive reflection of the Trust’s a number of offers to enhance status or to introduce friends competitive price structure and membership benefits. A few of and colleagues to the benefits of the return on available investment. these include exclusive dining membership. In keeping with our desire to packages, sale of limited numbers of day passes, seat reservations, establish long-term partnerships, Building relationships with priority booking opportunities for the Trust is conscious of strategic commercial partners events with partners, exclusive continuing to offer the market to provide quality incentives and wine club and reciprocal valuable opportunities. We are rewards for new, referring and arrangements with interstate and constantly searching for unique upgrading Members was critical to overseas clubs. product offerings to satisfy the the success of these campaigns. needs of our customers.

20 2008/09 ANNUAL REPORT Over the past five years Members Research Venue Services membership of the Trust has In December, an online survey The Venue Services Office achieved an average retention rate was sent to all Members. The continues to provide a high level of of 96% due to its attractive event response was strong with 19% of customer service for all Members schedule, exceptional customer Members participating. This was and guests. This is achieved service, innovative marketing the first major Member Survey through monitoring Stadium initiatives, strategic promotion conducted since 2003. Fitness Centre access, tennis and and the marketing of available squash court bookings, crèche membership places. In addition to the major survey, bookings, merchandise sales, regular post event membership Membership Retention Ticketek agency and general e-surveys were conducted enquiries. following sporting and non- sporting events throughout the year. These surveys aimed SCG Tour Experience to assess the satisfaction of The Trust partnered with Members and the quality of Tourism NSW to market tours to service and facilities. independent travellers through tourist information centres and Communication tour groups via inbound tour SCG Election operators. The Tour route has Regular strategies are expanded and now includes the The Trust undertook an SCG implemented to effectively Victor Trumper Stand. election in January 2009. A total communicate accurate and up-to- of 340 new SCG Members were date match information to all The SCG Tour Experience is inducted from the waitlist. membership segments. suitable for school groups, sporting clubs, tourists and The Trust uses targeted Members international travel groups, senior’s communication mediums such as: outings as well as local visitors. Segmentation Study • Member News in the Sports Following the introduction of Section of the Sydney Morning Tour merchandise has also been Platinum membership earlier in the Herald on the first Saturday of increased and is stocked within year, a refresh of the original SCG, each month the Stadium Store. Gold and Corporate membership • Around the Grounds bi-annual segmentation framework was Members magazine Stadium Fitness Centre conducted. The updated • New targeted HTML Member segmentation model focused on event emails have been used The Trust continues to improve identifying the new split between by the Membership Events the services and facilities of the Gold and Platinum Members. group to send electronic Stadium Fitness Centre. invitations to a targeted list of The entire cardiovascular The membership segmentation Members. model continues to provide a equipment range was upgraded greater appreciation of Members in addition to facilities such as the types and enhances the Trust’s spa plant room, spa and squash understanding of the way each courts. group uses their membership and associated benefits.

SYDNEY CRICKET & SPORTS GROUND TRUST 21 corpor ate services Financial Report

The Trust is a NSW Government In comparison to the previous year Major Sports Partners’ contracts Public Trading Enterprise the major variations were: are current with Cricket NSW, constituted under the provisions • Events – increased match hire Cricket Australia, NSW Rugby, of the Sydney Cricket & Sports fees; increased liquor sales/ Sydney Swans, Australian Ground Act, 1978. costs; comparable net food Football League, National Rugby sales; lower premium seating/ League, Sydney Roosters, Wests The Trust is a not for profit daily box hire and associated Tigers, Sydney FC and Football entity (profit is not its principle costs; higher event staff Federation Australia. objective). The reporting entity is costs; higher match operation consolidated as part of the NSW costs; higher event guarantee During 2008/09 events at the SCG Total State Sector Accounts. payments; higher car parking and the SFS attracted over 1.1M fees with associated operating patrons. The Trust’s operations for the costs; increased product rights. financial year ended 28 February Revenue from event and venue • General – increased Members 2009 resulted in a profit of hire was $7.9M, compared to subscriptions; lower Gold $26.215M (including a government $7.3M in the previous year. The membership sales; lower grant of $25M), compared to increased venue hire revenue can annual box rental; increased $31.588M in the previous year. be attributed to additional events advertising and sponsorship The profit achieved in 2008/09 staged during the year which income; lower contributions was comparable to budget. included the 2008 Rugby Super from Sports Parnters; increased 14 Semi-Final, two additional maintenance expenditure; The profit was transferred to NRL finals, three Wests Tigers increased interest payments retained earnings which stood at games, Rugby League World Cup and debt guarantee fees $178M as at 28 February 2009. fixtures and the ARL Test Match, (arising from increased debt); the Cricket International Twenty20 During the past year the Trust an increased superannuation game and the Pura Cup Final. undertook an extensive capital fund allocation (to fund works program of $58.8M actuarial downturn); increased (inclusive of completion of the depreciation charges following Catering Victor Trumper Stand) which completion of the Victor The Compass Group (trading as resulted in an increase to the Trumper Stand. All Leisure Hospitality) holds the level of capital debt (by $28.2M to major rights contract for food and $44.3M). The Trust’s continued strong beverage catering at the SCG and financial performance during the SFS. past year was attributable to the Operating Income following areas of operation. and Expenditure All Leisure commenced operations at the venues in November 2000 The results for the year show an Revenue from Venue and their current catering contract increase to operating revenue for Hiring extends to 2010. 2008/09, ($61.8M, compared to the previous year $61.3M) and an The Trust holds long term The Trust’s net share of catering increase to operating expenditure contractual arrangements with sales (including amortised ($60.5M for 2008/09 compared to major sporting bodies to provide a contract premiums) at the SCG the previous year, $54.7M). strong and broad based program and SFS was $3.5M (food) and of sporting events at the SCG and $3.4M (liquor) – compared to SFS. $3.5M and $3.0M respectively in the previous year.

22 2008/09 ANNUAL REPORT While liquor sales increased over It is apparent that the global Joining fees for new SCG the previous year, a reduction recession has impacted on the Members generated $540,000 in corporate hospitality sales in demand for corporate hospitality compared to $640,000 in 2008/09 has seen an impact on in 2008/09 in terms of sale of 2007/08. The highly regarded total food sales recorded. permanent, seasonal and casual and traditional SCG membership corporate facilities for both the generated sales through the intake Corporate Hospitality football and cricket seasons. of new Members drawn each year Premium Seating from the long waiting list. The Trust markets corporate Members Annual facilities/packages available for Subscriptions Advertising and events at the SCG and SFS Membership subscriptions were Sponsorship Sales including annual private suites and higher in 2008/09, revenue of Major signage/product rights corporate boxes, together with a $11.3M compared to $10.7M contracts are current with key comprehensive range of seasonal recorded in the previous year. stakeholders at the SCG and and casual box and dining room Whilst membership subscription the SFS including: Cricket NSW, packages. rates were increased, continued Cricket Australia, Sydney Swans, membership retention levels reflect Australian Football League, NSW The Trust corporate sales team the broad range of services and Rugby, Foster’s Australia, Coca- acts as the exclusive marketing events available to all Members. Cola Amatil, Macquarie Bank, agency for Cricket NSW and Fairfax, Ticketek and Moore NSW Rugby for the sale of Members subscriptions for Sports. corporate/premium packages for the season commencing 1 International Cricket and Rugby October 2008, include the newly The Trust contracts the sale of Super 14 fixtures. established and successful advertising/naming rights signage Platinum membership category. in the form of LED/scrolling The Trust also markets the sale signage, fence, grandstand of corporate hospitality for Trust Membership Sales and video scoreboard signage, allocated areas for Sydney Swans, including product rights at each Sydney FC, Rugby League and Membership sales during 2008/09 venue. concert events. include entrance fees received from the sale of limited numbers Advertising and sponsorship Marketing of available suites/ of new Platinum, Gold and SCG revenue generated $5.9M boxes on a daily/seasonal basis Membership. (including newly contracted (including sale of allocated arrangements) compared to premium public seating) for major Membership sales generated in $4.3M in the previous year. events together generated revenue 2008/09 were strong and reflect of $4.3M compared to $5.4M continued market confidence in Exclusive Product rights generated received in the previous year. the fixture program and amenities $1.9M in revenue in 2008/09, on offer at the SCG and SFS. compared to $1.8M in the Revenue from rental of annual previous year. private suites/corporate boxes Sales of new Platinum and Gold during the year was $4.1M, Membership generated $4.5M, compared to $4.3M received in compared to $5.8M in the the previous year. previous year.

SYDNEY CRICKET & SPORTS GROUND TRUST 23 corpor ate services financial report continued

Investment Event Operating Costs Premium/Corporate Management In hosting all sporting and other Seating Expenses Performance events staged at the SCG and In marketing and servicing the During 2008/09 available surplus SFS during 2008/09 the Trust sale of premium seat packages funds were invested with the NSW incurred direct event costs of to corporate customers for Treasury Corporation Hourglass $9.5M compared to $9.2M in the major events (including direct facility. previous year. charges for tickets, catering, merchandising and other costs) The Treasury Hourglass return The increase can be attributed expenses of $3.7M were incurred for the year ended 28 February to additional event costs in during 2008/09, compared to 2009 on the Trust’s invested funds staging events including the 2008 $4.5M in expenses incurred in the represents the rate of 6.7% for Rugby Super 14 Semi-Final, two previous year. that period. additional NRL finals, three Wests Tigers games, Rugby League Surplus funds were invested World Cup fixtures and the ARL Administration and for the short term only. Interest Test, the Cricket International Related Expenses received on investments totalled Twenty20 game and the Pura Cup Administration and related $437,000 as compared to Final. expenses incurred during the past $442,000 in the previous year. year totalled $5.6M compared to Staff Related Expenses $4.8M in the previous year. Premises Rental Income Staff related expenses incurred Administration expenditure during the past year totalled includes: consulting fees ($1.25M The Trust holds long term $13.4M compared to $12.4M in compared to $1.2M in the previous tenancy arrangements for office 2007/08. These costs include year), communication expenses administration and players facilities permanent salaries and wages, ($289,000 compared to $235,000), located within the SCG/SFS event day casual staff wages and printing and stationary ($891,000 precinct. contracted event day agency compared to $1.1M), insurance staff wages and all associated costs ($444,000 compared to In 2008 the Sheridan Building on-costs. $439,000), accounting and legal project was completed, the fees ($294,000 compared to building to house the Trust Office The increased payments for staff $359,000), recategorised signage/ and nominated tenants. related expenses mainly reflect sponsors commissions ($394,000) costs paid for casual and agency The Trust tenancies currently and premiums/discounts staffing for additional sporting comprise headquarters for Cricket recognised on loans ($182,000 and charity events, contracted NSW, Sydney Swans, AFL (NSW/ compared to a credit of $236,000 casual staffing for operation of the ACT), NSW Rugby, Sydney in the previous year). Moore Park car parks together Roosters, Sydney FC, All Leisure with redundancy payments and Hospitality, Stadium Orthopaedic provisions for various award Consultants & Sports Medicine Centre and wages and back pay negotiations. sports travel agency FanFirm. Consultants were appointed for a The Trust commenced as the range of projects in 2008/09, with Tenancy rental income received in newly appointed operator of the payments totalling $1.2M. 2008/09 was $2.2M compared to public parking areas in Driver $1.2M in the previous year. Avenue Moore Park under contract with the Centennial Park and Moore Park Trust in April.

24 2008/09 ANNUAL REPORT The major consultancies were compared to $439,000 in the public tours and corporate provided by: previous year. The Trust insurance function room facilities. • Media Servicing: Events – placement and coverage is $191,000; reviewed annually by Brokers, Expenditure for marketing during • Ernst & Young: Revenue OAMPS. 2008/09 including advertising, Growth Model – $115,700; promotion and publications, was • Godden Mackay Logan: $1.9M compared to $2.1M in the Ground Operation and previous year. Heritage Study – $63,000; Maintenance • Ernst & Young: Cost Review – $62,000; The Trust employs a permanent Interest Paid on • Asset Technologies Pacific P/L: trades workforce, service Loans/Rating Based Asset maintenance tender – contractors and subcontractors to Guarantee Fees $60,000; undertake the annual program of The Trust borrowings were • Professional Advantage: maintenance of stands, buildings, extended by $28.2M (to $44.3M) Budgeting software plant, grounds and playing arenas in the past year to support implementation – $56,100; at the SCG and SFS. completion of an extensive • The Blue Arc Group: Website Expenditure of $7.3M upon capital works program. As a Development – $36,250; maintenance of grounds, buildings consequence, interest paid on • Adept Business Systems: and plant was incurred during the capital debt during the year was Membership System past year, compared to $6.6M in $1.8M compared to $1M in the specification – $38,500; the previous year. previous year. • Ernst & Young: Financial Due Diligence Review – $36,000; Ratings Guarantee Fees, totalled • The Quantium Group: Depreciation $346,000, based on the increased Membership Segmentation Depreciation charged for 2008/09 debt level ($160,000 in 2007/08) Framework – $35,000. was $8.8M compared to $7.9M in following application of the relevant financial rating. The balance of consultants fees the previous year. The increased incurred was paid by the Trust for level of depreciation reflects minor consultancies for services the completion of the Victor Debt Management provided. These included: IT Trumper Stand and other capital Performance services, accounting services, works projects during the year The Trust’s debt portfolio is governance review, ratings and is calculated on the value managed by NSW Treasury review, engineering services, of buildings and plant using the Corporation (TCorp). turf inspection, catering service, straight line method based on the claims management, surveys, expected useful life of assets. Over the financial year cash rates tender review, OH&S, employment moved initially higher by 0.25%, matters, building and other Marketing Expenses to 7.25% before falling by 4.0% to services. 3.25% by financial year end. Marketing expenditure was directed to the promotion and Central Banks around the world Insurance marketing of the cricket and cut cash rates sharply over the The Trust’s major insurance risks football seasons and other major year in an effort to stimulate their are covered through membership events, available Platinum, Gold economies as major economies of the Treasury Managed and SCG membership, sale of around the world went into Fund. Insurance premiums private suites/corporate boxes, recession. paid in 2008/09 were $444,000 premium seating for major events,

SYDNEY CRICKET & SPORTS GROUND TRUST 25 corpor ate services FINANCIAL REPORT continued

The market value of the Trust’s The Trust also received an annual determination of the remaining portfolio increased by $31.294M contribution of $500,000 from the useful life of each building. (including new borrowings), to AFL to the project, paid as part of reach $46.883M at 28 February current contractual arrangements. The valuation increment recorded 2009. since the previous valuation of buildings and improvements TCorp’s debt management Summary of Land $240.7M, was transferred to the involved tactical positioning which Vested in the Trust Asset Revaluation Reserve as at resulted in the portfolio’s cost The Trust was constituted 28 February 2007. of funds being approximately under the Sydney Cricket & As a result of the revaluations, 0.01% above its benchmark. Sports Ground Act, 1978. It is an Asset Revaluation Reserve This represented an annual cost charged with the care, control remains established. The balance of $2,879 against the Trust’s and management of the lands of this Reserve as at 28 February benchmark for the year. described in Schedule 2 of the 2009 stood at $319M. Act, those lands dedicated for Capital Works Program public recreation. The value of land, buildings and improvements, plant and During 2008/09 the Trust equipment recorded in the Trust conducted an extensive capital Major Assets – financial statements as at 28 works program with project costs Property, Plant & February 2009 stands at $559M. incurred totalling $58.8M ($53M in Equipment the previous year). The Trust’s major assets other The Trust’s current Industrial than land holdings consist of Special Risks insurance policy The major projects undertaken buildings and improvements at the as at 28 February 2009 provides in 2008/09 included: completion SCG and SFS and its surrounds. a cover on buildings, plant and of construction of the SCG equipment to the value of $817M. Victor Trumper Stand (project During 2006/07, the Trust received cost – $82M), completion of an independent valuation by the construction of the new Sheridan State Valuation Office of its vested Performance Building Office complex (project lands, based on an “as zoned and Statement cost – $10M), erection of the used basis,” providing a valuation Jamie Barkley new SFS southern videoboard, of $34M as at 28 February 2007. Chief Executive Officer upgrade to SCG/SFS Members Annual Salary: $420,723 and Corporate facilities, roll out The valuation increment recorded of the new Ticketek turnstile since the previous valuation of The Chairman reported that the infrastructure and completion land, $3M, was transferred to the Chief Executive Officer performed of the final stage of the SCG Asset Revaluation Reserve. to a high level during 2008/09. floodlight refurbishment. During 2006/07 the Trust received The objectives of the CEO are to The Trust received the NSW an independent valuation by WT manage the core business of the Government grant of $25M Partnership, registered quantity Trust, including management and for the Victor Trumper Stand surveyors, of the replacement cost development of the SCG and SFS; project in October 2007. The of buildings and improvements at understand and meet the needs final installment ($5M) of the the SCG and SFS. of Members; build and maintain Commonwealth Government relationships with Sports Partners; The valuation at replacement grant of $25M for the project was capitalise on opportunities cost was converted to written received in December 2008. to secure new business and down replacement cost by the

26 2008/09 ANNUAL REPORT products to ensure ongoing finals), A-League football • Completion and opening of the revenue sources to maintain the (Sydney FC) and AFL (Sydney Victor Trumper Stand. financial viability of the Trust; Swans). • Completion and opening lead the Trust’s management • Attracting and staging of the Sheridan Building team, including the selection of additional events including ARL accommodating the Trust key personnel, providing advice, (Centenary Test – Australia Administration, Sydney FC, managing performance and v New Zealand and Rugby AFL (NSW/ACT), Sydney development and coaching to League World Cup), Soccer Orthopaedic and Sports ensure a cohesive and capable International (Australia v Ghana) Medicine Centre and FanFirm. team to support the Trust’s Australia’s Big Bash Celebrity • SCG Lighting Upgrade objectives, maintain the traditions Twenty20 game. • New videoboard at the SFS of a historic precinct and honour • Maintaining high retention of • Refurbishment of Members the glory of sport. Gold and SCG Members. and Corporate amenities at the • Negotiating new long term SFS. The Chief Executive Officer’s venue hire and tenancy • Installation of picket fence major achievements during the agreements with Sydney around the perimeter of the year included: Roosters, Sydney FC, AFL SCG. • A profit of $1.215M (before (NSW/ACT) and the Sydney • Unveiling of Dally Messenger Government grants of $25M). Swans. and Fred ‘The Demon’ • Successful sporting events Spofforth as part of the Basil including international and The Chief Executive Officer Sellers Sports Sculptures domestic cricket, Super 14 managed a major capital works Project and Yabba (Stephen Rugby (Waratahs), NRL (Sydney program ($53M) which included: Gascoigne), an initiative of the Roosters, Wests Tigers and Trust. Time for Payment of Accounts Listed below is a schedule of accounts payable performance as at 28 February 2009, 30 November 2008, 31 August 2008, and 31 May 2008.

Month Current Less than 30-60 60-90 Over Total 30 days days days 90 days $ overdue overdue overdue overdue

May 304,480 111,427 139,243 34,330 5,816 595,296 % 51.15% 18.72% 23.39% 5.77% 0.98% 100.00%

August 6,224,181 176,897 47,828 0 12,031 6,460,937 % 96.34% 2.74% 0.74% 0.00% 0.19% 100.00%

November 6,169,190 -23,915 140,057 -3.922 -1,021 6,280,390 % 98.23% -0.38% 2.23% -0.06% -0.02% 100.00%

February 2,442,938 462,686 839,670 0 1,557 3,746,851 % 65.20% 12.35% 22.41% 0.00% 0.04% 100.00%

Minimal complaints were received during the year concerning late payment of invoices, with each matter being resolved satisfactorily.

SYDNEY CRICKET & SPORTS GROUND TRUST 27 Corpor ate Services Financial Report Continued

Performance Reviews The Trust also submits financial reports to the Treasury Ratings Agency, Fitch reported Commercial Sector Division for in May 2008 after conducting review of operating performance an annual review of the Trust’s and financial position as financial operations and position compared to agreed Statement as at 29 February 2008. The of Business Intent performance report by Fitch recommended targets established annually. assignment of a financial rating of BB+ (compared to BB assigned as at 28 February 2007). The Credit Card Use rating is utilised by NSW Treasury The use of credit cards issued in determining the amount of to Trust executive staff is in annual ratings based guarantee accordance with Premier’s fees payable. Memoranda and Treasurer’s In determining the Trust’s Directions. financial rating, Fitch continued to recognise that the Trust’s credit Sydney Cricket Club strengths included: In 2007 the Trust joined with the • Custodian of an iconic sporting administration of the former UTS- arena the SCG, the traditional Balmain District Cricket Club to home of cricket in Sydney; establish the new entity of the • Both SCG and the SFS facilities Sydney Cricket Club. are used year-round, with five key sports associations The Sydney Cricket Club is an contracted for several years at Incorporated Association under a time (cricket, Australian Rules, the Associations Incorporation rugby league, rugby union and Act 1984. The Trust and the Club soccer); agreed to enter an association • A history of modest but which would involve the provision consistent profitability; by the Trust of administrative and • Receipt of $50M in State other services to the Club. and Federal grants towards financing for the Victor Trumper The Trust is represented on the Stand project Club’s Board of Directors in accord with the Club Constitution. The Trust’s four main Committees Recoverable operational expenses (Grounds and Event Services, incurred by the Trust during the Finance, Management and Audit) past year were recouped from the are responsible for continuous Sydney Cricket Club through the internal performance review Club’s operational account. of Trust activities. Monthly management reports are submitted to these Committees for assessment of operational performance.

Jon Moss Sydney Cricket Club Captain

28 2008/09 ANNUAL REPORT Human Resources

The Trust currently employs 97 full-time staff in the following departments:

Feb 06 Feb 07 Feb 08 Feb 09 FTE Employees FTE Employees FTE Employees FTE Employees

Executive Staff 6.00 6 7.00 7 7.00 7 5.00 5 Administration 5.00 5 4.65 5 5.22 6 2.60 3 Commercial & Operations 17.42 18 17.28 18 20.01 22 17.67 19 Business Development 8.60 9 9.00 9 8.00 8 34.63 58 Corporate Services 9.04 10 10.98 13 11.74 15 16.29 20 Properties 28.53 30 28.60 30 33.49 35 28.48 31 Marketing & Membership 29.16 29 31.52 66 26.21 63 0.00 0 Sydney Cricket Club 0.00 0 0.00 0 1.00 1 0.00 0 Total 103.75 137 109.03 148 112.67 157 104.67 136

The breakdown of employees as at Saturday 28 February 2009 was:

Full time Part time Casual FTE Total Employees 88 14 34 104.67 136

2008 2009 Executive Remuneration Male Female Male Female

Number of Executive Officers with remuneration equal to or exceeding equivalent of SES Level 1 6 – 4 –

Number of Executive Officers with remuneration equal to or exceeding equivalent of SES Level 5 1 – 1 –

Total 7 – 5 –

Human Resources Statement Through a partnership with employees and management, the Trust’s Human Resources team has provided expertise in people, work processes and organisational issues via the implementation of value-added programs, tools, systems, practices and structures.

This alliance has enabled the Trust to successfully achieve: • Selection of the right people with the rights skills to fit our culture • Foster the unique culture as an important part of our heritage and success • High levels of commitment and job performance that achieve results • Effective leadership for current and planned requirements • Continuous development of job-related competencies and skills to enable personal and business growth

SYDNEY CRICKET & SPORTS GROUND TRUST 29 Human Resources continued

Official Overseas Travel by Trust Staff Sunday 4 May - Wednesday 7 May 2008 Friday 1 - Monday 4 August 2008 Sue Channells, Jason Hill, Rob McQuade Rodney Cavalier AO Auckland, New Zealand Christchurch, New Zealand Venue Management Association Congress Bledisloe Cup, New Zealand v Australia

Saturday 31 May - Sunday 1 June 2008 Tuesday 4 - Tuesday 14 October 2008 Rodney Cavalier AO, Jamie Barkley, Jason Hill, Rodney Cavalier AO Rob McQuade, Kerry Chikarovski Bangalore, India Christchurch, New Zealand Test Match, India v Australia Super 14 Final, Crusaders v Waratahs

Representation of Equal Employment Opportunity (EEO) target groups The Trust is an equal opportunity employer that has integrated EEO practices into all areas of the workplace, thereby creating an environment where staff are valued and have the opportunity to contribute and develop. The merit principle is applied to all recruitment, selection, promotion, training and other employment related opportunities.

Table A: Trends in the Representation of Equal Employment Opportunity (EEO) Groups#

Benchmark or % of Total Staff* EEO Group Target 2006 2007 2008 2009

Women 50.0% 40.0% 44.0% 44.0% 41.0% Aboriginal people and Torres Strait Islanders 2.0% 0% 0% 0% 0% People whose first language was not English 19.0% 8.0% 9.0% 9.0% 11.0% People with a disability 12.0% 0% 0% 0% 0% People with a disability requiring work-related adjustment 7.0% 0% 0% 0% 0%

Table B: Trends in the Distribution of Equal Employment Opportunity (EEO) Groups

Benchmark or Distribution Index^ EEO Group Target 2006 2007 2008 2009

Women 100 71 80 79 80 Aboriginal people and Torres Strait Islanders 100 N/A N/A N/A N/A People whose first language was not English 100 N/A N/A N/A N/A People with a disability 100 N/A N/A N/A N/A People with a disability requiring work-related adjustment 100 N/A N/A N/A N/A

Notes: # Staff numbers as at 28 February 2009 * Excludes any casual employees or contractors ^ A Distribution Index of 100 indicates that the centre of distribution of the EEO group across salary levels is equivalent to that of other staff. Values less than 100 mean that the EEO group tends to be more concentrated at lower salary levels than is the case for other staff. The more pronounced this tendency is, the lower the index will be. In some cases the index may be more than 100, indicating that the EEO group is less concentrated at lower salary levels.

30 2008/09 ANNUAL REPORT Information Technology

The Trust’s IT Department The Victor Trumper Stand project • Podcasting/CSS content provides a diverse range of included services such as • Whole website centre designed services including: telephone systems, data services to a fixed size (1024 x 768 and security systems and was pixels) • Customer Contact Operations – completed in December 2008. • New email templates for Help Desk Corporates and all Member • Desktop Support services In December 2008, 151 new types • Voice Communications POS terminals were installed in • Improved navigation • Data Communications SCG public areas including the • Improved reporting • LAN Administration new Victor Trumper Stand. This • Members login page • Enterprise and corporate increased the total number of systems implementation and terminals to 328. As part of the 2008/09 Capital management Works program, IT initiated the • Network infrastructure This project completed the roll relocation of the Main Distribution implementation and out of the new catering system to Frame and the Network management the SCG and SFS and required Operations Centre in the SCG • Maintaining, implementing and the installation of over 80 network Noble Stand and Properties Office developing applications devices, laying of just over 2km of respectively, to the Victor Trumper • Network and infrastructure fibre cabling, approximately 10km Stand. security, policy, procedure, and of data cabling and major power monitoring upgrades to all food and beverage Design allowances were made in • Setting and managing policy outlets throughout both venues. the communications infrastructure for protection of the Trust’s for the Victor Trumper Stand and The new Macquarie Bank physical and electronic the establishment of new data payment gateway (cashless information assets paths from the Sheridan Building payment system) went live in • Records Management to the Victor Trumper Stand. This December 2008 at the SCG and work was completed in February SFS. This project work included 2009. New Projects the deployment of a new data network which covered all food The consolidation of Projects undertaken in 2008/09 and beverage outlets at both telecommunication services from included: venues. three carriers (Telstra, People Transfer into the Sheridan Building, and Optus) to the one (Optus) The Trust website was relaunched with all hardware, information was finalised on 11 March 2009. in February 2009 in addition to and telecommunication services Works took place throughout new sections for the Sydney relocated and installed over the 2008/09 and included transitioning Cricket Club and SCG/Gold/ long weekend in June 2008. all LAN lines, data lines and Platinum Members. mobile phone services to one The Sheridan Building has a new NSW Government contract. The redesign of the website allows telephone voice over IP phone for website enhancements, such system. This system provides Call The process involved the as: Centre facilities for Membership, replacement of legacy • Flash video viewer/player Sales and Venue Services telecommunications core • Flash-driven promotional panels Departments. hardware and establishment of • Categorised events panels new copper and fibre lines to (SCG & SFS) service the Trust precinct. • Banner advertising on all sections of the website

SYDNEY CRICKET & SPORTS GROUND TRUST 31 ORGANISATIONAL CHART

Trust

Grounds and Finance Management Grandstand Audit Committee Event Services Committee Committee Committee Committee

­Jamie Barkley Chief Executive Officer

Bernie Lamerton Jason Hill Shane Fuller Michael Bangel General Manager General Manager General Manager General Manager Corporate Services Business Development Commercial Properties

Venue and Asset Finance Marketing Event Management Management

Human Sales Venue Operations OH&S Resources

Information Membership Media and PR Capital Works Technology

32 2008/09 ANNUAL REPORT trustees

Mr Rodney M Cavalier AO Mr Ken W Catchpole OAM Trust Chairman Committees: Grounds and Event Services, Chairman, Grandstand Committee Management Committees: Finance, Grounds and Bachelor of Science (Hons) University of Sydney Event Services, Grandstand, Management Consultant Bachelor of Arts Retired from career as research chemist and marketing Former NSW Member of Parliament 1978 – 1988 in private industry Former NSW Minister for Education 1984 – 1988 Member: Wallaby Hall of Fame Former NSW Minister for Energy and Member: International Rugby Hall of Fame Minister for Finance 1984 Member: The Sport Australia Hall of Fame Chairman: C E W Bean Foundation Former President: NSW Rugby Union Chairman: NSW Defence Reserves Support Council Former Australian Rugby Captain Member: Defence Reserves Support National Council Patron: Australian Barbarians and Classic Wallabies President: Sydney Cricket Club Members-elected Trust representative Director: Highland District Cricket Association Elected Trustee to 13 July 2010 Appointed Trustee to 13 July 2009 Ms Kerry Chikarovski Mr E (John) Cloney Committees: Finance, Grandstand Deputy Chairman Bachelor of Economics (Syd), LLB (Syd) Chairman, Finance Committee Director: Chikarovski & Associates Pty Ltd Committees: Audit, Finance, Grounds and Former Minister for Consumer Affairs, Event Services, Grandstand, Management Industrial Relations, and Women Chairman: QBE Insurance Group Ltd Former Leader of NSW Parliamentary Liberal Party Member: RBS Group (Australia) Pty Ltd (formerly ABN Board Member: Fitness Australia AMRO) Advisory Council Board Member: Humpty Dumpty Foundation Company Director: Boral Ltd Board Member: Rugby Youth Foundation Company Director: Maple-Brown Abbott Limited Former Advisory Board Member: Sydney University Life Member: Australia and New Zealand Institute of Acuvue Flames Insurance and Finance Appointed Trustee to 13 July 2011 Fellow: Australian Institute of Management Foundation Fellow: Australian Institute of Hon Michael A Cleary AO Company Directors Chairman, Grounds and Event Appointed Trustee to 13 July 2011 Services Committee Committee: Grounds and Event Services Chairman: Clearmarketing Pty Ltd Director: NSW Rugby League Trustee: Wentworth Park Trust Former Member of Parliament (Coogee) 1974 – 1991 Former Minister for Sport, Recreation, Racing and Tourism 1981 – 1988 Former Australian representative in Athletics, Rugby Union and Rugby League Appointed Trustee to 13 July 2011

SYDNEY CRICKET & SPORTS GROUND TRUST 33 trustees continued

Mr Michael Eyers AM Mr Alan B Jones AO Committee: Grounds and Event Services Committee: Grounds and Event Services Solicitor Graduate of Queensland and Oxford Universities Master of Economic Science Former speechwriter and senior advisor to the Master of Business Administration Prime Minister, the Right Hon Malcolm Fraser Bachelor of Arts (Hons) Queen’s Birthday Honour – an Officer within the Bachelor of Laws Order of Australia for services to the media Consultant: Atanaskovic Hartnell and sports administration Adviser: Department of Premier and Cabinet Former Australian Rugby Union Coach Professorial Visiting Fellow: Faculty of the Built Former Coach of the Balmain and South Sydney Environment, University of NSW Rugby League Clubs Appointed Trustee to 13 July 2011 Elected to the Confederation of Australian Sports Hall of Fame – 1985 Mr Phillip H Green Broadcaster: Radio Station 2GB 873 and formerly Committee: Finance with the Channel 9 Today Show presenting editorial Bachelor of Commerce (UNSW) comment daily for 20 years Bachelor of Law (UNSW) Awarded Australian Radio Talk Personality of the Year: Chartered Accountant 1990, 1991, 1992, 1993, 1995, 1997, 1998, 1999, 2000, Appointed Trustee to 13 July 2009 2001, 2002, 2003, 2004 and 2005 Awarded Australian Radio Best Current Affairs Ms Catherine Harris AO PSM Commentator: 1991, 1992, 1993, 1995, 1996, 1997, 1998, 2000, 2001, 2002, 2003, 2004 and 2005 Committee: Grounds and Event Services Advance Australia Award – Services to the Bachelor of Commerce (UNSW) FAICD Community 1993 Honorary Doctorate of Business UNSW Awarded the Inaugural Sir Roden Cutler Medal for Chairperson: Harris Farm Markets Pty Ltd Services to the Community – 2003 Director: Australia – Japan Foundation Deputy Chairman: NSW Institute of Sport Board Member: National Gallery of Australia Foundation Former Deputy Chairman: Australian Sports Board Member: Museum of Contemporary Art Commission (1998 – 2008) Board Member: UNSW Foundation Appointed Trustee to 13 July 2009 Governor: University of Notre Dame Honorary Consul General: Bhutan Appointed Trustee to 13 July 2011

34 2008/09 ANNUAL REPORT Mr John A McCarthy QC Ms Kaye Schofield Committee: Finance Chairperson, Management Committee and Barrister (admitted 1976) Museum and Archives Task Force Queen’s Counsel (appointed 1988) Committees: Finance, Management, Museum and Fellow of the Senate of the University of Sydney Archives Task Force (1995 – ) and Member of: Bachelor of Arts, Master of Education • Senate Honorary Awards Committee Executive Director: Kaye Schofield & • Senate Sports Liaison Committee (Convenor) Associates Pty Ltd, Management Consultants • Senate Finance Committee (1998 – 2007) Director: WaterEd Australia Pty Ltd Pro Chancellor: University of Sydney (2005 – ) Member: NSW TAFE Commission Board Member: NSW Legal Aid Review Committee #1 Appointed Trustee to 13 July 2009 (1998 – ) Chairman: John Stephen Akhwari Athletics Foundation Mr A F (Tony) Shepherd (“JSAAF”) (2001 – ) Committees: Grounds and Event Services, St Thomas More Society (Guild of Catholic Lawyers) – Grandstand President (1992 – 2005) Bachelor of Commerce Appointed Trustee to 13 July 2009 Chairman: ConnectEast Group Chairman: Transfield Services Limited Mr Roderick H McGeoch AM LLB Director: Transfield Services Infrastructure Fund Chairman, Audit Committee Director: The Australian Chamber Orchestra Committees: Audit, Finance, Grandstand Appointed Trustee to 13 July 2009 Lawyer Director: Ramsay Health Care Ltd Mr Paul H Warren Member: Aon Risk Services Limited NSW Committees: Finance, Management Board of Advice Bachelor of Business (Marketing & Accounting) Director: Telecom Corporation of Chairman: Sydney Metro: Ford Dealers Advertising New Zealand Limited “TCNZ” Fund Ltd Director: Maxwood Pty Ltd Executive Chairman: Peter Warren Group of Companies Director: McGeoch Holdings Pty Ltd Director: Ford Dealers Advertising Fund Ltd Chairman: Sky City Entertainment Group Limited Member: Board of Management, St Vincents Prostate Chairman: Vantage Private Equity Growth Limited Cancer Centre Appointed Trustee to 13 July 2011 Appointed Trustee to 13 July 2009

SYDNEY CRICKET & SPORTS GROUND TRUST 35 Trust Charter and Constitution

Charter: Sydney Cricket Constitution of & Sports Ground Act, the Trust 1978 No. 72. Under Section 5(2), the Trust The Trust was constituted under shall have and may exercise and this Act and is charged with the perform the functions conferred care, control and management of or imposed on it by or under the the scheduled lands dedicated for Act, and shall in the exercise or public recreation. performance of its functions, be subject to the control and The Trust may allow the scheduled direction of the Minister for Sport lands or any part thereof to and Recreation. be used by persons, clubs, associations, leagues or unions at The Trust consists of 15 members, such times and on such terms and 13 appointed by the Governor of conditions as the Trust may think NSW and two elected by Platinum, fit and proper for cricket, football, Gold and SCG Members. Each athletics, public amusement or any Trustee is appointed for a term of other purpose which the Minister up to four years. may approve.

The Trust may carry out works for the improvement, development and maintenance of the Trust lands including the redesigning of areas, the construction of any building or structure on the Trust lands, and the provision of stands and other accommodation for spectators frequenting the Trust lands.

2009 Test Match crowd Day three

36 2008/09 ANNUAL REPORT TRUST MEETINGS

During the period 1 March 2008 to 28 February 2009, attendances at meetings by Trustees, i.e. Audit Committee, Finance Committee, Grounds and Event Services Committee, Management Committee and Trust meetings are set out below.

The number of meetings held were: two Audit Committee, four Finance Committee, four Grounds and Event Services Committee, two Management Committee and 11 Trust meetings.

Grounds and Trustee Audit Finance Event Services Management Attendance Committee Committee Committee Committee Trust

Mr R M Cavalier AO 2 4 2 11

Mr E J Cloney 2 4 2 1 9

Mr K W Catchpole OAM 4 2 11

Ms K Chikarovski 4 10

Hon M A Cleary AO 3 11

Mr M Eyers AM 1 8

Mr P Green 2 7

Ms C Harris AO PSM 4 10

Mr A B Jones AO 4

Mr J A McCarthy QC 3 9

Mr R H McGeoch AM LLB 2 3 5

Ms K Schofield 4 2 8

Mr A F Shepherd 4 7

Mr P H Warren 3 2 10

SYDNEY CRICKET & SPORTS GROUND TRUST 37 38 2008/09 ANNUAL REPORT UPDATE

SYDNEY CRICKET & SPORTS GROUND TRUST 39 SYDNEY CRICKET & SPORTS GROUND TRUST INCOME STATEMENT FOR THE YEAR ENDED 28 FEBRUARY 2009

Consolidated Parent Notes 2009 2008 2009 2008 $’000 $’000 $’000 $’000

REVENUE Event and Venue Hire Fees 7,963 7,310 7,963 7,310 Catering 2a 13,525 12,322 13,525 12,322 Premium Seating 2b 4,348 5,407 4,348 5,407 Membership Fees 2c 16,866 17,585 16,866 17,585 Private/Corporate Box Rental 2d 4,116 4,322 4,116 4,322 Advertising & Sponsorship 2e 5,934 4,290 5,934 4,290 Interest 437 442 437 442 Other Revenue 2g 8,617 9,605 8,617 9,605 Sub-total 61,806 61,283 61,806 61,283

Government Grants 2f 25,000 25,000 25,000 25,000

Total Revenue 86,806 86,283 86,806 86,283

EXPENDITURE Event Operating Costs 3a 9,564 9,206 9,564 9,206 Liquor Expenses 3b 6,574 5,797 6,574 5,797 Premium/Corporate Seating 3c 3,657 4,479 3,657 4,479 Staff Related Expenses 3d 13,452 12,363 14,184 12,470 Administration and Related Expenses 3e 5,663 4,755 5,663 4,755 Ground Operation & Maintenance 7,346 6,599 7,346 6,599 Depreciation 1e, 6 8,865 7,979 8,865 7,979 Finance Costs 3f 2,203 1,175 2,203 1,175 Marketing Expenses 2,369 2,140 2,369 2,140 Superannuation Fund Allocation 9 732 107 – – Loss on Disposal of Assets 3f 166 95 166 95

Total Expenditure 60,591 54,695 60,591 54,695

OPERATING RESULT FOR THE YEAR 26,215 31,588 26,215 31,588

The accompanying notes form part of these financial statements.

40 2008/09 ANNUAL REPORT SYDNEY CRICKET & SPORTS GROUND TRUST BALANCE SHEET AS AT 28 FEBRUARY 2009

Consolidated Parent Notes 2009 2008 2009 2008 $’000 $’000 $’000 $’000

ASSETS Current Assets Cash and Cash Equivalents 4 2,687 2,021 2,687 2,021 Receivables 5 9,440 6,865 9,440 6,865 Inventories 1g 718 727 718 727 Total Current Assets 12,845 9,613 12,845 9,613

Non-Current Assets Property, Plant & Equipment 1e, 6 559,168 509,825 559,168 509,825 Receivables 5 68 284 68 284 Superannuation Asset 9 – 454 – – Total Non-Current Assets 559,236 510,563 559,236 510,109 Total Assets 572,081 520,176 572,081 519,722

LIABILITIES Current Liabilities Payables 7a 11,339 11,908 10,630 11,728 Other Liabilities 7b 13,473 14,762 13,473 14,762 Borrowings 1k, 8 6,507 1,793 6,507 1,793 Provisions 1h, 9 1,825 1,794 2,812 1,520 Total Current Liabilities 33,144 30,257 33,422 29,803

Non-Current Liabilities Payables 7a 284 408 284 408 Other Liabilities 7b 3,473 4,402 3,473 4,402 Superannuation Liability 9 278 – – – Borrowings 1k, 8 37,820 14,242 37,820 14,242 Total Non-Current Liabilities 41,855 19,052 41,577 19,052 Total Liabilities 74,999 49,309 74,999 48,855

NET ASSETS 497,082 470,867 497,082 470,867

EQUITY Retained Earnings 15 178,023 151,808 178,023 151,808 Reserves 15 319,059 319,059 319,059 319,059

TOTAL EQUITY 497,082 470,867 497,082 470,867

The accompanying notes form part of these financial statements.

SYDNEY CRICKET & SPORTS GROUND TRUST 41 SYDNEY CRICKET & SPORTS GROUND TRUST CASH FLOW statement FOR THE YEAR ENDED 28 February 2009

Consolidated Parent Notes 2009 2008 2009 2008 $’000 $’000 $’000 $’000

Cash Flows from Operating Activities Receipts from Operations 65,377 73,369 65,377 73,369 Interest Received 437 442 437 442 Other Receipts 3,109 1,563 3,109 1,563 Payments to Suppliers and Employees (56,565) (56,529) (56,565) (56,529) Interest Paid (1,441) (900) (1,441) (900) Other Payments (1,243) (232) (1,243) (232)

Net Cash from Operating Activities 17b 9,674 17,713 9,674 17,713

Cash Flows from Investing Activities Purchase of Property, Plant and Equipment (62,542) (51,037) (62,542) (51,037) Proceeds from Sale of Plant and Equipment 424 316 424 316

Net Cash used in Investing Activities (62,118) (50,721) (62,118) (50,721)

Cash Flows from Financing Activities Proceeds from Borrowings 28,110 8,337 28,110 8,337 Government Grant 25,000 25,000 25,000 25,000

Net Cash from Financing Activities 53,110 33,337 53,110 33,337

Net Increase/(Decrease) in Cash and Cash Equivalents 666 329 666 329 Cash and cash equivalents at the Beginning of Period 17a 2,021 1,692 2,021 1,692

Cash and Cash Equivalents at end of period 17a 2,687 2,021 2,687 2,021

The accompanying notes form part of these financial statements.

42 2008/09 ANNUAL REPORT SYDNEY CRICKET & SPORTS GROUND TRUST STATEMENT OF RECOGNISED INCOME & EXPENSE FOR THE YEAR ENDED 28 February 2009

Consolidated Parent Notes 2009 2008 2009 2008 $’000 $’000 $’000 $’000

Net increase in Asset Revaluation Reserve 15 – – – –

Income and Expense Recognised Directly In Equity – – – –

Profit for the Year 26,215 31,588 26,215 31,588

Total Income and Expense recognised directly in Equity 15 26,215 31,588 26,215 31,588

The accompanying notes form part of these financial statements.

SYDNEY CRICKET & SPORTS GROUND TRUST 43 SYDNEY CRICKET & SPORTS GROUND TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2009

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

(a)  Reporting Entity The Sydney Cricket & Sports Ground Trust, as a reporting entity, is a Public Trading Enterprise.

The Sydney Cricket & Sports Ground Trust Division was established on 17 March 2006 under the Public Sector Employment and Management Act 2002 (PSEMA) to provide personnel services to the Trust. The consolidated Financial Report of the Trust includes the activities of this subsidiary. The Trust’s commercial activities are also included.

The Trust is domiciled in Australia and its principal office is at Moore Park Road, Paddington.

The Trust is a NSW Government Trading Enterprise constituted under the provisions of the Sydney Cricket & Sports Ground Act, 1978. The Trust is a not-for-profit entity (profit is not its principle objective). The reporting entity is consolidated as part of the NSW Total State Sector Accounts.

(b) Basis of Preparation The Trust’s financial report is a general-purpose financial report, which has been prepared in accordance with: • Australian Accounting Standards; • The requirements of the Public Finance and Audit Act 1983 and Public Finance and Audit Regulation 2005 and • Interpretations and other professional authoritative pronouncements of the Australian Accounting Standards Board.

These statements have also been prepared under historic cost and accrual accounting conventions (except for land, buildings and improvements which are shown at valuation and superannuation which is shown at net present value).

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 to their present value as at the date of acquisition. Present values are calculated using rates applicable to similar borrowing arrangements of the Trust.

The activities of the Trust concentrate upon its primary role in the care, control and management of the Sydney Cricket Ground and the Sydney Football Stadium, which are lands dedicated for public recreation.

The accounting policies adopted in compilation of the financial statements are consistent with those applied in the previous year.

Judgements, key assumptions and estimations management as made are disclosed in the relevant notes to the financial statements.

All amounts are expressed in Australian currency and all values are rounded to the nearest thousand dollars ($’000) unless otherwise stated.

44 2008/09 ANNUAL REPORT SYDNEY CRICKET & SPORTS GROUND TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2009

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES continued

(c) Statement of Compliance The consolidated financial report for the year ended 28 February 2009 has been authorised for issue by the Audit Committee on 19 June 2009.

The Trust’s financial report complies with Australian Accounting Standards, some of which contain requirements specific to not-for-profit entities that are inconsistent with IFRS requirements.

(d) Revenue Recognition Revenue is recognised and measured at the fair value of the consideration received or receivable to the extent that it is probable that the economic benefits will flow to the Trust and the revenue can be reliably measured. The following specific recognition criteria must be met before revenue is recognised: • Rendering of Services – where control of a right exists to receive consideration upon completion of or a stage of services provided. • Interest Income – Interest revenue is recognised as it accrues using the effective interest method as set out in AASB 139 Financial Instruments: Recognition and Measurement. • Rental revenue is accounted for on a straight-line basis over the lease term. • Grants are recognised as revenues when the Trust obtains control over the assets comprising the grant. Control is normally obtained upon the receipt of cash.

(e) Property, Plant & Equipment The Trust’s property, plant and equipment have been brought to account at fair value.

Physical non-current assets are valued in accordance with the TPP 07-01 “Valuation of Physical Non-Current Assets at Fair Value” Policy and Guidelines Paper (TPP 07-1). This policy adopts fair value in accordance with AASB 116 Property, Plant and Equipment and AASB 140 Investment Property.

Property, plant and equipment is measured on an existing use basis, where there are no feasible alternative uses in the existing natural, legal, financial and socio-political environment. However, in the limited circumstances where there are feasible alternative uses, assets are valued at their highest and best use. Fair value of property, plant and equipment is determined based on the best available market evidence, including current market selling prices for the same or similar assets. Where there is no available market evidence, the asset’s fair value is measured at its market buying price, the best indicator of which is depreciated replacement cost.

The agency revalues each class of property, plant and equipment at least every three years or with sufficient regularity to ensure that the carrying amount of each asset in the class does not differ materially from its fair value at reporting date. The last revaluation was completed during 2006/07 and was based on an independent assessment.

Non-specialised assets with short useful lives are measured at depreciated historical cost, as a surrogate for fair value.

When revaluing non-current assets by reference to current prices for assets newer than those being revalued (adjusted to reflect the present condition of the assets), the gross amount and the related accumulated depreciation are separately restated. For other assets, any balances of accumulated depreciation at the revaluation date in respect of those assets are credited to the asset accounts to which they relate. The net asset accounts are then increased or decreased by the revaluation increments or decrements.

SYDNEY CRICKET & SPORTS GROUND TRUST 45 SYDNEY CRICKET & SPORTS GROUND TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2009

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES continued

(e) Property, Plant & Equipment continued Revaluation increments are credited directly to the asset revaluation reserve, except that, to the extent that an increment reverses a revaluation decrement in respect of that class of asset previously recognised as an expense in the surplus/deficit, the increment is recognised immediately as revenue in the surplus/deficit. Revaluation decrements are recognised immediately as expenses in the surplus/deficit, except that, to the extent that a credit balance exists in the asset revaluation reserve in respect of the same class of assets, they are debited directly to the asset revaluation reserve.

As a not-for-profit entity, revaluation increments and decrements are offset against one another within a class of non-current assets, but not otherwise. Where an asset that has previously been revalued is disposed of, any balance remaining in the asset revaluation reserve in respect of that asset is transferred to accumulated funds.

Capitalisation All physical non-current assets costing over $5,000 individually and all items under $5,000 and above $2,000 which are considered at risk of theft are capitalised and recorded in the Trust’s assets register.

Depreciation Property, plant and equipment, other than land, are depreciated at rates based on their expected useful lives for the Trust, using the straight-line method.

Depreciation rates of each class of depreciable assets are: Buildings and Improvements 1.1% - 20% Plant and Equipment 5% - 33.3%

(f) Maintenance The cost of day-to-day servicing costs or maintenance are charged as expenses as incurred, except where they relate to the replacement of a part or component of an asset, in which case the costs are capitalised and depreciated.

(g) Inventories Inventories have been valued at the lower of cost and net realisable value. Cost is determined on an average cost basis.

(h) Employee Entitlements Provision is made for annual leave and long service leave estimated to be payable to employees as at 28 February 2009.

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 amounts expected to be paid when the liabilities are settled.

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

46 2008/09 ANNUAL REPORT SYDNEY CRICKET & SPORTS GROUND TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2009

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES continued

(h) Employee Entitlements continued 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.

In accordance with the Australian Accounting Standard AASB 119 “Employee Benefits” liabilities arising in respect of salaries and wages, annual leave and any other employee benefits expected to be settled within 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 present value of the estimated future cash outflows to be made in respect of services provided by employees 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. The provisions for leave entitlements also include the relevant on-costs.

Superannuation – contributions are made by the Trust to employee superannuation funds and are charged as an expense when incurred. Any surplus and deficiency in the net assets of the defined benefit superannuation plans are recognised as an asset and liability respectively when they arise.

Liabilities for superannuation are actuarially determined and contributions made to superannuation funds are charged against the provision. The Trust’s superannuation prepayment as at 28 February 2009 has been calculated and advised by Pillar Administration.

(i) Insurance The Trust’s insurance activities are conducted through the NSW Treasury Managed Fund. The expense (premium) is determined by the Fund Manager based on past experience.

(j) Receivables & Payables Accounts receivable, which are generally settled within 30 days are carried at amounts due. Accounts payable 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.

(k) Net Fair Values of Financial Assets and Liabilities Interest bearing liabilities are recorded at current capital value.

Net fair values of other financial instruments are determined on the following basis: • Monetary financial assets & liabilities (which are not traded in an organised financial market) – the carrying amounts of trade debtors, trade accounts payable and accruals are recorded on a cost basis; • Investments in NSW Treasury Corporation Hour-Glass – the value shown is market value, equivalent to cost.

(l) Debt Management Strategy The NSW Treasury Corporation actively manages the Trust’s portfolio of debt. The Corporation has provided the Trust the facility whereby maturing loans may be rolled over and replaced with new loans whilst maintaining the original capital value of the portfolio. Borrowings are shown as current and non-current liabilities and include the provision for rollover upon maturity. Borrowing costs are recognised as expenses in the period in which they are incurred.

SYDNEY CRICKET & SPORTS GROUND TRUST 47 SYDNEY CRICKET & SPORTS GROUND TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2009

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES continued

(m) Sydney Cricket Club In 2007 the Trust joined with the administration of the former UTS-Balmain District Cricket Club in establishing the new entity of the Sydney Cricket Club (the Club). The Club is an Incorporated Association under the Associations Incorporation Act 1984. The Trust and the Club have an association which involves the provision by the Trust of administrative and other services to the Club. The Trust is represented on the Club’s Board of Directors in accord with the Club Constitution. Any expenses that were incurred during the past year through payroll, operational expenditure and management time have been recouped from the Sydney Cricket Club through the Club’s operational account. The Trust has established a Bank Deposit Account as an on-call account against the overdraft facility of the Sydney Cricket Club.

(n) Tax Status The activities of the Trust are exempt from the provisions of the Income Tax Assessment Act and other Federal Government taxation legislation, with the exception of the requirement to pay fringe benefits tax and GST.

(o) Goods & Services Tax (GST) Revenues, expenses and assets are recognised net of GST, except: • The amount of GST incurred by the Trust as a purchaser that is not recoverable from the Australian Tax Office (ATO) is recognised as part of the cost of acquisition of an asset or as part of an item of expense as applicable. • Receivables and payables are stated with the amount of GST included.

Cash flows are included in the Cash Flow Statement on a gross basis. The GST components of cash flows arising from investing and financing activities that are recoverable from, or payable to, the ATO are classified as operating cash flows.

(p) Comparatives Comparative figures have been repositioned or reclassified in the financial statement to conform with the basis of presentation and classification used in the current year.

2. REVENUE

(a) Catering Income received from liquor and food trading for events, functions and non-event days is detailed as follows:

Liquor Trading - $10,040,632 ($8,782,225 in 2008).

The Trust operates through a managing agent for liquor trading in the public, members and corporate areas of the Sydney Cricket Ground and the Sydney Football Stadium. Income from liquor trading represents gross liquor sales at the Sydney Cricket Ground and the Sydney Football Stadium.

Food Trading - $3,483,869 ($3,539,951 in 2008).

Income from food trading comprises a share of gross food sales received by the Trust under the catering contract, together with amortisation of contract premiums received as a licence fee paid in advance. The Trust’s current catering contract is due to expire on 31 October 2010. The total premium paid under the contract is being amortised annually over the term of the contract.

48 2008/09 ANNUAL REPORT SYDNEY CRICKET & SPORTS GROUND TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2009

Consolidated Parent 2009 2008 2009 2008 $’000 $’000 $’000 $’000

2. REVENUE continued

(b) Premium Seating Premium Seating 4,348 5,407 4,348 5,407

Income includes hire/rental of corporate facilities and corporate seating sold on a daily and seasonal basis providing dining/viewing for major events at the Sydney Cricket Ground and the Sydney Football Stadium.

(c) Membership Fees Membership Annual Subscriptions 11,802 11,120 11,802 11,120 SCG Member Entrance Fees 541 640 541 640 Platinum/Gold Member Entrance Fees 4,523 5,825 4,523 5,825 16,866 17,585 16,866 17,585

(d) Private/Corporate Box Rental Private/Corporate Box Rental 4,116 4,322 4,116 4,322

Income includes hire/rental of corporate viewing boxes sold on an annual basis, providing rights to view events at the Sydney Cricket Ground and the Sydney Football Stadium.

(e) Advertising & Sponsorship Advertising & Sponsorship 5,934 4,290 5,934 4,290

Income includes payments under contract with various companies for naming rights and advertisements that are displayed on fences, grandstands and video scoreboards at the Sydney Cricket Ground and the Sydney Football Stadium.

(f) Government Grants Federal/NSW Government Grant 25,000 25,000 25,000 25,000

Construction of the SCG Victor Trumper Stand commenced in February 2007 and was completed in late 2008. In financing the cost of construction of the new Victor Trumper Stand the Trust received a grant of $25M from the NSW Government and $25M from the Federal Government towards the project.

SYDNEY CRICKET & SPORTS GROUND TRUST 49 SYDNEY CRICKET & SPORTS GROUND TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2009

Consolidated Parent 2009 2008 2009 2008 $’000 $’000 $’000 $’000

2. REVENUE continued

(g) Other Merchandising 405 389 405 389 Parking Fees 1,437 152 1,437 152 Tour Fees and Sponsorship 125 101 125 101 Rental Income 2,249 1,252 2,249 1,252 Contributions from Hirers 1,683 5,174 1,683 5,174 Exclusive Product Rights 1,910 1,792 1,910 1,792 Sundry 808 745 808 745 8,617 9,605 8,617 9,605

3. EXPENDITURE

(a) Event Operating Costs Event Operating Costs 9,564 9,206 9,564 9,206

These costs are direct expenses incurred in staging of sporting and other events during the year.

(b) Liquor Expenses Liquor Cost of Goods Sold 3,369 2,999 3,369 2,999 Liquor Management Fee 3,205 2,798 3,205 2,798 6,574 5,797 6,574 5,797

(c) Premium/Corporate Seating Expenses Premium/Corporate Seating Expenses 3,657 4,479 3,657 4,479

These expenses relate to the sale of premium seat packages to corporate customers for major events and include ticket charges, catering, merchandise etc.

50 2008/09 ANNUAL REPORT SYDNEY CRICKET & SPORTS GROUND TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2009

Consolidated Parent 2009 2008 2009 2008 $’000 $’000 $’000 $’000

3. EXPENDITURE continued

(d) Staff Related Expenses Salaries and Wages 10,396 9,367 1,368 972 Trustees Remuneration 96 105 96 105 Provision for Leave/Gratuity 867 815 – – Superannuation 770 724 – – Workers Compensation 173 195 – – Payroll Tax 615 590 – – Other Staff Related Expenses 535 567 339 416 Personnel Services – – 12,381 10,977 13,452 12,363 14,184 12,470 Personnel Services Salaries and Wages – – 9,028 8,395 Provision for Leave/Gratuity – – 867 815 Superannuation Expense – – 770 724 Workers Compensation – – 173 195 Payroll Tax – – 615 590 Superannuation Fund Allocation – – 732 107 Other Staff Related Expenses – – 196 151 – – 12,381 10,977

(e) Administration and Related Expenses Audit Fees (Audit Office of NSW) 78 80 78 80 Accounting and Legal Services 294 359 294 359 Consultant Fees 1,253 1,222 1,253 1,222 Travel 129 130 129 130 Postage/Freight 188 169 188 169 Communication Expenses 289 235 289 235 Printing and Stationery 891 1,056 891 1,056 Provision for Doubtful Debts (78) 74 (78) 74 Bad Debts Written off – 1 – 1 Insurance 444 439 444 439 Members Seating 377 276 377 276 Sundry 1,282 598 1,282 598 Finance 516 116 516 116 5,663 4,755 5,663 4,755

The Audit Office of NSW’s fee for auditing the annual financial report for the year ended 28 February 2009 is $78,000 ($80,000 in 2008). NSW Treasury Govt Guarantee fees previously included in finance fees have been reclassified and included in finance costs below.

SYDNEY CRICKET & SPORTS GROUND TRUST 51 SYDNEY CRICKET & SPORTS GROUND TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2009

Consolidated Parent 2009 2008 2009 2008 $’000 $’000 $’000 $’000

3. EXPENDITURE continued

(f) Finance Costs Interest on Loans 1,857 1,015 1,857 1,015 NSW Treasury Govt Guarantee Fees 346 160 346 160 2,203 1,175 2,203 1,175

(g) Disposal of Property, Plant & Equipment Proceeds from Disposal (424) (316) (424) (316) Written down value of assets disposed 590 411 590 411 Loss on disposal of Property, Plant & Equipment 166 95 166 95

4. CASH AND CASH EQUIVALENTS For the purpose of the Cash Flow Statement, cash and cash equivalents include cash at bank, cash on hand, short-term deposits and bank overdraft. Cash and cash equivalent assets recognised in the Balance Sheet are reconciled at the end of the financial year to the Cash Flow Statement as follows:

Cash 660 853 660 853 NSW Treasury Corporation Hour-Glass 2,027 1,168 2,027 1,168 Cash and cash equivalents per Balance Sheet 2,687 2,021 2,687 2,021 Bank Overdraft – – – – Cash and cash equivalents per Cash Flow Statement 2,687 2,021 2,687 2,021

5. RECEIVABLES

As at 28 February 2009, the amount shown as Receivables comprised the following items:

Current: Prepayments and Accrued Income 3,450 1,375 3,450 1,375 Catering Debtors 1,121 1,367 1,121 1,367 Sundry Debtors 4,321 2,405 4,321 2,405 GST Receivable 168 1,443 168 1,443 Provision for Doubtful Debts – (86) – (86) Futures Contracts 380 361 380 361 9,440 6,865 9,440 6,865

Non-Current: Sundry Debtors 68 284 68 284 68 284 68 284

52 2008/09 ANNUAL REPORT SYDNEY CRICKET & SPORTS GROUND TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2009

Consolidated Parent 2009 2008 2009 2008 $’000 $’000 $’000 $’000

5. RECEIVABLES continued

Movement in the allowance for impairment (Prov’n for doubtful debts) Balance at 1 March 86 170 86 170 Amounts written off during the year – (9) – (9) Amounts received during the year (86) (161) (86) (161) Increase/(decrease) in allowance Recognised in profit or loss – 86 – 86 Balance at 28 February – 86 – 86

6. PROPERTY, PLANT AND EQUIPMENT

Land at Valuation 34,000 34,000 34,000 34,000

Buildings and Improvements (at fair value) 680,594 581,026 680,594 581,026 Accumulated Depreciation (165,463) (157,623) (165,463) (157,623) 515,131 423,403 515,131 423,403

Plant and Equipment (at fair value) 17,042 15,257 17,042 15,257 Accumulated Depreciation (11,267) (10,695) (11,267) (10,695) 5,775 4,562 5,775 4,562

Work in progress 4,262 47,860 4,262 47,860 Total Carrying Amount 559,168 509,825 559,168 509,825

The Trust’s current Industrial Special Risks insurance policy as at 28 February 2009 provides a cover on buildings, plant and equipment to the value of $817 million (742M in 2008).

SYDNEY CRICKET & SPORTS GROUND TRUST 53 SYDNEY CRICKET & SPORTS GROUND TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2009

6. PROPERTY, PLANT AND EQUIPMENT continued

Reconciliations Plant and Work In Land Buildings Equipment Progress Total $’000 $’000 $’000 $’000 $’000

2009 Carrying amount as at 1 March 2008 34,000 423,403 4,562 47,860 509,825 Additions – – 646 58,222 58,868 Reclassification – 99,780 1,970 (101,820) (70) Disposals – (211) (379) – (590) Depreciation Expense – (7,841) (1,024) – (8,865) Carrying amount as at 28 February 2009 34,000 515,131 5,775 4,262 559,168

2008 Carrying amount as at 1 March 2007 34,000 418,036 4,203 8,987 465,226 Additions – 24 917 52,109 53,050 Reclassification – 12,342 833 (13,236) (61) Disposals – – (411) – (411) Depreciation Expense – (6,999) (980) – (7,979) Carrying amount as at 29 February 2008 34,000 423,403 4,562 47,860 509,825

Valuation of Land, Buildings and Improvements During 2006/07, the Trust received an independent valuation by the State Valuation Office of its vested lands, based on an “as zoned and used basis,” providing a valuation of $34M as at 28 February 2007. The valuation increment recorded since the previous valuation of land, $3M, was transferred to the Asset Revaluation Reserve.

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 Sydney Cricket Ground and Sydney Football Stadium. The valuation at replacement cost was converted to written down replacement cost by the determination of the remaining useful life of each building. The valuation increment recorded since the previous valuation of buildings and improvements $240.7M, was transferred to the Asset Revaluation Reserve as at 28 February 2007.

As a result of the revaluations, an Asset Revaluation Reserve remains established. The balance of this Reserve as at 28 February 2009 stood at $319M.

54 2008/09 ANNUAL REPORT SYDNEY CRICKET & SPORTS GROUND TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2009

Consolidated Parent 2009 2008 2009 2008 $’000 $’000 $’000 $’000

7.

(a) PAYABLES

Current: Sundry Creditors & Accruals 10,641 11,626 9,932 11,446 Interest Payable 698 282 698 282 11,339 11,908 10,630 11,728

Non-Current: Other Creditors 2,834 2,675 2,834 2,675 2,834 2,675 2,834 2,675

(b) OTHER LIABILITIES

Current: Subscriptions Paid in Advance 6,762 6,301 6,762 6,301 Rents Paid in Advance 1,843 3,546 1,843 3,546 Advertising – Fees in Advance 1,960 903 1,960 903 Catering – Licence Fees in Advance 1,050 1,050 1,050 1,050 Other Deferred Income 1,858 2,962 1,858 2,962 13,473 14,762 13,473 14,762

Non-Current: Catering – Licence Fees in Advance 700 1,750 700 1,750 Rents – Paid in Advance 181 281 181 281 Advertising – Fees in Advance 42 104 42 104 923 2,135 923 2,135

SYDNEY CRICKET & SPORTS GROUND TRUST 55 SYDNEY CRICKET & SPORTS GROUND TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2009

Consolidated Parent 2009 2008 2009 2008 $’000 $’000 $’000 $’000

8. BORROWINGS

Current: NSW Treasury Corporation Loans 6,507 1,793 6,507 1,793 6,507 1,793 6,507 1,793

Non-Current: NSW Treasury Corporation Loans 37,820 14,242 37,820 14,242 37,820 14,424 37,820 14,242

Total 44,327 16,035 44,327 16,035

Significant Terms & Conditions: NSW Treasury Corporation (Bullet) Loans are based upon instalment payments of interest only and repayment or rollover of principal at maturity. All borrowings are secured by Government Guarantee.

Capital Debt Repayment Schedule: The following is a schedule of principal repayments due in respect of Treasury Corporation Loans:

a. < 1 year 6,507 1,793 6,507 1,793 b. > 1 < 5 years 23,142 9,392 23,142 9,392 c. > 5 years 14,678 4,850 14,678 4,850 44,327 16,035 44,327 16,035

Derivative Financial Instruments Net Exposure The market value of the Trusts transactions in derivative financial instruments outstanding at 28 February 2009 is as follows:

Derivative Financial Instruments Receivable Futures Contracts 380 361 380 361

Total Carrying amount as Aggregate Net per Balance Sheet Fair Values Consolidated Parent 2009 2008 2009 2008 $’000 $’000 $’000 $’000

Net Fair Values Financial Liabilities NSW Treasury Corporation Loans 44,327 16,035 46,488 15,668

56 2008/09 ANNUAL REPORT SYDNEY CRICKET & SPORTS GROUND TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2009

Consolidated Parent 2009 2008 2009 2008 $’000 $’000 $’000 $’000

9. PROVISIONS

(a) Employee Entitlements Current: Provision for Annual Leave and on-costs Balance at beginning of year 1,107 1,030 – – Provision for the year 695 701 – – Less: Leave Taken (752) (624) – – Balance owing to the Division – – 2,037 1,287 Balance at end of year 1,050 1,107 2,037 1,287

Provision for Long Service Leave and on-costs Balance at beginning of year 687 651 – – Provision for the year 112 76 – – Less: Leave Taken (24) (40) – – Balance owing to the Division – – 775 233 Balance at end of year 775 687 775 233

Total Employee Entitlements 1,825 1,794 2,812 1,520

(b) Superannuation Asset Non-Current Superannuation Liability /(Asset) 278 (454) – –

A number of Trust employees are members of the State Authorities Superannuation Scheme (SASS) and the State Authorities Non-Contributory Superannuation Scheme (SANCS). All members are entitled to benefits on 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. The Trust also contributes to the plans.

These schemes are all defined benefit schemes – at least a component of the final benefit is derived from a multiple of member salary and years of membership. All the Schemes are closed to new members.

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 Superannuation Scheme (SASS) and State Authorities Non-Contributory Superannuation Scheme (SANCS).

Pillar Administration (Pillar) has advised the level of estimated superannuation surplus at 28 February 2009.

SYDNEY CRICKET & SPORTS GROUND TRUST 57 SYDNEY CRICKET & SPORTS GROUND TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2009

9. PROVISIONS continued

(i) Reconciliation of the assets and liabilities recognised in the Balance Sheet:

SASS SANCS 2009 2008 2009 2008 $ $ $ $

Present Value of Defined Benefit Obligations (1,955,000) (1,781,342) (238,164) (211,109) Fair Value of Plan Assets 1,759,144 2,234,295 156,315 212,455 Net asset/(liability) at year end to be disclosed in the Balance Sheet (195,856) 452,953 (81,849) 1,346

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.

(ii) Movement of the assets and liabilities recognised in the Balance Sheet:

SASS SANCS 2009 2008 2009 2008 $ $ $ $

Net asset/(liability) at start of year 452,953 544,131 1,346 17,429 Net income/(expense) recognised in the Income Statement (648,809) (91,178) (83,195) (16,083) Net asset/(liability) at year end to be disclosed in the Balance Sheet (195,856) 452,953 (81,849) 1,346

(iii) Actual Return on Fund Assets: SASS SANCS 2009 2008 2009 2008 $ $ $ $

Actual return on Fund Assets (374,105) (13,685) (32,495) (1,496)

(iv) Economic assumptions 28 February 2009 29 February 2008 % % Salary increase rate (excluding promotional increases) 3.5 pa 4.0 pa Rate of CPI increase 2.5 2.5 Expected rate of return on assets backing current pension liabilities 8.3 7.6 Expected rate of return on assets backing other liabilities 7.3 7.6 Discount rate 4.45 6.3

58 2008/09 ANNUAL REPORT SYDNEY CRICKET & SPORTS GROUND TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2009

Consolidated Parent 2009 2008 2009 2008 $’000 $’000 $’000 $’000

10. EMPLOYEE BENEFITS

Liability The aggregate employee benefit liability recognised and included in the financial statements is as follows: Accrued Salaries and Wages 247 205 247 205

Provision for Employee Benefits: Current (note 9) 1,825 1,794 1,825 1,794 Non-Current – – – – 1,825 1,794 1,825 1,794

Total employee benefits liability 2,072 1,999 2,072 1,999

11. CAPITAL AND OTHER EXPENDITURE COMMITMENTS

Capital Commitments Total capital expenditure contracted as at 28 February 2009 but not provided for in the accounts:

– Not later than 1 year 530 56,344 530 56,344 – Later than 1 year but not later than 5 years – – – – Total 530 56,344 530 56,344

Other Expenditure Commitments Total other expenditure contracted as at 28 February 2009 but not provided for in the accounts: – Not later than 1 year 294 265 294 265 – Later than 1 year but not later than 5 years – – – – Total 294 265 294 265

The total expenditure commitments above include input tax credits of $57K which is expected to be recovered from the Australian Tax Office.

Finance Lease Commitments Minimum lease payment commitments in relation to finance leases payable as follows:

– Not later than 1 year 170 157 170 157 – Later than 1 year but not later than 5 years 301 461 301 461 Minimum lease payments 471 618 471 618 Less: future finance charges 53 97 53 97 Present Value of minimum lease payments 418 521 418 521

SYDNEY CRICKET & SPORTS GROUND TRUST 59 SYDNEY CRICKET & SPORTS GROUND TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2009

Consolidated Parent 2009 2008 2009 2008 $’000 $’000 $’000 $’000

11. CAPITAL AND OTHER EXPENDITURE COMMITMENTS continued

The present value of finance lease commitments is as follows: – Not later than 1 year 134 113 134 113 – Later than 1 year but not later than 5 years 284 408 284 408 Minimum lease payments 418 521 418 521

Classified as: – Current 134 113 134 113 – Non-Current 284 408 284 408 418 521 418 521

Other commitments not quantified include specific obligations under term contracts with major Sports Partners i.e. National Rugby League, NSW Rugby Union, NSW Cricket Association and the Sydney Swans. The Trust receives contributions of goods and services from certain sponsors. In return, the Trust provides advertising space and/or use of Trust facilities. The Trust does not consider the value of facilities and advertising space provided in 2009 to be material.

12. SEGMENT REPORTING

The Trust operates primarily in one business segment by maintaining and improving grounds under its control for the purpose of staging sporting and other entertainment for public amusement. The Trust also operates in one geographical segment being the Sydney metropolitan area.

13. TRUSTEES REMUNERATION

The Trust is classified as a Category C Advisory Board thereby enabling the payment of fees to Trust members.

Fees totalling $96,189 ($104,725 in 2008) were paid in accordance with rates determined by the Premier’s Department to the Trustees during the year ended 28 February 2009.

The Trustees have access to the Trust Suite during event days at the Sydney Cricket Ground and Sydney Football Stadium. On occasion expenses for travel by Trustees on Trust business are reimbursed by the Trust. There are no other benefits paid to Trustees.

14. CONTINGENT LIABILITIES

The Trust is not aware of any significant or material contingent liability in existence at balance date or which has emerged subsequent to balance date which would materially impact on the financial position of the Trust as shown in the Financial Statements.

60 2008/09 ANNUAL REPORT SYDNEY CRICKET & SPORTS GROUND TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2009

14. CONTINGENT LIABILITIES continued

In February 2007 the Trust received planning approval for the SCG Victor Trumper Stand Development. To facilitate demolition and construction, the Trust has executed a Heads of Agreement with Fox Studios which provides terms of arrangement for provision of construction access on or over the construction site boundary between the SCG and Fox Studios. Total costs associated with the terms of the agreement are yet to be determined.

In accord with the conditions of the Planning Approval for the development the Trust has provided a bank guarantee for $50,000 as security for any necessary rectification of damage to the adjacent road reserve arising during the construction.

In 2007 the Trust joined with the administration of the former UTS-Balmain District Cricket Club in establishing the new entity of the Sydney Cricket Club. The Trust has established a Bank Deposit Account holding $40,000 as an on-call account against the overdraft facility of the Sydney Cricket Club.

15. EQUITY

Retained Earnings Asset Total Equity Revaluation Reserve 2009 2008 2009 2008 2009 2008 $’000 $’000 $’000 $’000 $’000 $’000

Balance at the beginning of the financial year 151,808 120,220 319,059 319,059 470,867 439,279 Profit/(Loss) for the year 26,215 31,588 – – 26,215 31,588 Balance at the end of the financial year 178,023 151,808 319,059 319,059 497,082 470,867

16. ADDITIONAL FINANCIAL INSTRUMENTS DISCLOSURES

The Trust’s main risks arising from financial instruments are outlined below, together with the Trust’s objectives, policies and processes for measuring and managing risk. Further quantitative and qualitative disclosures are included throughout this financial report.

The Trust has responsibility for the establishment and oversight of risk management and reviews and agrees policies for managing each of these risks. Risk management policies are established to identify and analyse the risks faced by the Trust, to set risk limits and controls and to monitor risks. Compliance with policies is reviewed by the Audit Committee and Internal Audit on a continuous basis.

The Trust’s principal financial instruments comprise receivables, payables, cash, short-term deposits and variable and fixed rate debt. The Trust manages its exposure to key financial risks, including interest rate risk in accordance with the Trust’s financial risk management policy.

The main risks arising from the Trust’s financial instruments are interest rate risk, credit risk and liquidity risk. The Trust uses different methods to measure and manage different types of risks. These methods include ageing analyses and monitoring of specific credit allowances which are undertaken to manage credit risk.

SYDNEY CRICKET & SPORTS GROUND TRUST 61 SYDNEY CRICKET & SPORTS GROUND TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2009

16. ADDITIONAL FINANCIAL INSTRUMENTS DISCLOSURES continued

The Trust reviews and agrees policies for managing each of the risks identified below, including the interest rate risk and credit allowances.

Risk Exposures and Responses

Market Risk Market risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market prices. The Trust’s exposures to market risk are primarily through price risks associated with the movement in interest rate risk and other price risks associated with the movement in the unit price of the Hour-Glass Investment Facilities. The Trust has no exposure to foreign currency risk and does not enter into commodity contracts.

Interest Rate Risk The Trust’s exposure to market interest rates relates primarily to the Trust’s long term debt obligations. The level of debt is disclosed in note 8. At Balance date the Trust had the following mix of financial assets and liabilities exposed to Australian Variable interest rate risk.

Consolidated Parent 2009 2008 2009 2008 $’000 $’000 $’000 $’000

Financial Assets Cash and Cash Equivalents 2,687 2,021 2,687 2,021 Futures Contracts 380 361 380 361 3,067 2,382 3,067 2,382

Financial Liabilities Interest bearing Liabilities (44,327) (16,035) (44,327) (16,035) (44,327) (16,035) (44,327) (16,035) Net Exposure (41,260) (13,653) (41,260) (13,653)

Interest Rate Risk continued

Managed Debt Portfolio The Trust’s policy is to manage its finance costs using a mix of fixed and variable rate debt.

At 28 February 2009 approximately 99% of the Trust’s borrowings were at a fixed rate of interest (2008: 89%).

To manage this mix in a cost-efficient manner the Trust contracts with the NSW Treasury Corporation (TCorp) to actively manage the Trust’s portfolio of debt. The Corporation has provided the Trust the facility whereby maturing loans may be rolled over and replaced with new loans whilst maintaining the original capital value of the portfolio.

TCorp manages interest rate risk exposures applicable to specific borrowings of the Trust in accordance with a debt portfolio mandate agreed between the two parties.

62 2008/09 ANNUAL REPORT SYDNEY CRICKET & SPORTS GROUND TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2009

16. ADDITIONAL FINANCIAL INSTRUMENTS DISCLOSURES continued

TCorp receives a fee for this service, which may include a performance component where TCorp is able to add value by achieving a reduction in the Trust‘s debt costs against an agreed benchmark. TCorp may use derivatives, primarily interest rate futures, to establish short-term (tactical) positions within agreed tolerance limits to manage portfolio duration and maturity profiles.

The following sensitivity analysis is based on the interest rate risk exposures in existence at the Balance Sheet date:

At 28 February 2009, if interest rates had moved, as illustrated in the table below, with all other variables held constant, TCorp have estimated that post tax profit and equity would have been affected as follows:

Operating Result Equity Higher/(Lower) Higher/(Lower) 2009 2008 2009 2008 $’000 $’000 $’000 $’000

Increase in Consolidated basis points AUD +100 (1%) (1,500) (500) (1,500) (500)

The movements in profit and equity are due to higher/lower interest costs from variable rate debt and cash balances. The sensitivity is higher in 2009 than in 2008 because of an increase in outstanding borrowings that has occurred due to necessary additional loans secured to meet the extensive capital works program undertaken in 2008/09.

Foreign Currency Risk The Trust’s exposure to foreign currency risk is considered minimal.

Hour-Glass Investment Facilities The Trust holds units in the following Hour-glass investment trusts:

Facility Investment Sectors Investment Horizon

Cash Facility Cash, Money market instruments Up to 2 years

The unit price is equal to the total fair value of the net assets held by the facility divided by the total number of units on issue. Unit prices are calculated and published daily.

NSW Treasury Corporation (TCorp) as trustee for the above facility is required to act in the best interest of the unit holders and to administer the trusts in accordance with the trust deeds. As trustee, TCorp has appointed external managers to manage the performance and risks of each facility in accordance with a mandate agreed by the parties. From April 2007 TCorp commenced acting as a manager for part of the Cash Facility. A significant portion of the administration of the facility is outsourced to an external custodian.

TCorp provides sensitivity analysis for the Hour-glass Investment facilities using historically based volatility information.

SYDNEY CRICKET & SPORTS GROUND TRUST 63 SYDNEY CRICKET & SPORTS GROUND TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2009

16. ADDITIONAL FINANCIAL INSTRUMENTS DISCLOSURES continued

Change in Impact on Profit/Loss Unit Price 2009 2008

Hour-Glass Cash Facility +/– 1% 20,268 11,676

A reasonably possible change is based on the percentage change in unit price multiplied by the redemption price as at 30 June each year.

Credit Risk All financial assets are unsecured.

Credit risk arises from the financial assets of the Trust, which comprise cash and cash equivalents, trade and other receivables. The Trust’s exposure to credit risk arises from potential default of the counter party, with a maximum exposure equal to the carrying amount.

The Trust trades only with recognised, creditworthy third parties, and as such collateral is not requested nor is it the Trust’s policy to securitise its trade and other receivables.

Receivable balances are monitored on an ongoing basis with Trust’s exposure to bad debts not being significant.

Trust deposits held with NSW TCorp are guaranteed by the State.

Liquidity risk Liquidity risk is the risk that the Trust will be unable to meet its payment obligations when they fall due. The Trust continuously manages risk through monitoring future cash flows and maturities planning to ensure adequate holding of high quality liquid assets.

The liabilities are recognised for amounts due to be paid in the future for goods or services received, whether or not invoiced. Amounts owing to suppliers (which are unsecured ) are settled in accordance with policy set out in Treasurer’s Directions 219.01. If trade terms are not specified, payment is made no later than the end of the month following the month in which an invoice or a statement is received. Treasurer’s Direction 219.01 allows the Minister to award interest for late payment. No interest was paid for late payment during the year.

The Trust’s objective is to maintain a balance between continuity of funding and flexibility through the use of bank overdrafts, NSW Treasury Corporation Hour-Glass Investments and NSW Treasury Corporation loans.

The table below reflects all contractually fixed pay-offs and receivables for settlement, repayments and interest resulting from recognised financial assets and liabilities, including derivative financial instruments as at 28 February 2009. Cash flows for financial assets and liabilities without fixed amount or timing are based on the conditions existing at 28 February 2009.

64 2008/09 ANNUAL REPORT SYDNEY CRICKET & SPORTS GROUND TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2009

16. ADDITIONAL FINANCIAL INSTRUMENTS DISCLOSURES continued

Liquidity Risk continued The remaining contractual maturities of the Trust’s financial liabilities are:

Consolidated Parent 2009 2008 2009 2008 $’000 $’000 $’000 $’000

12 months or less 17,846 13,701 17,846 13,701 1-5 years 23,142 9,392 23,142 9,392 Over 5 years 14,677 4,850 14,677 4,850 55,665 27,943 55,665 27,943 

Maturity analysis of financial assets and liabilities based on management’s expectation. The risk implied from the values shown in the table below, reflects a balanced view of cash inflows and outflows. Trade payables and other financial liabilities mainly originate from the financing of assets used in our ongoing operations such as property, plant & equipment and investments in working capital eg inventories and trade receivables. These assets are considered in the Trust’s overall liquidity risk.

To monitor existing financial assets and liabilities, as well as to enable an effective controlling of future risks, the Trust has established comprehensive risk reporting that reflects expectations of management of expected settlement of financial assets and liabilities.

1 Year 1 to 5 Over 5 Total or less Years Years $’000 $’000 $’000 $’000

28 February 2009 Financial Assets Cash & cash equivalents 2,687 – – 2,687 Trade & other Receivables 5,442 – – 5,442 GST Receivable 168 – – 168 Futures Contracts 380 – – 380 8,677 – – 8,677

Financial Liabilities Trade & other Payables 10,641 – – 10,641 Interest Payable 698 – – 698 Borrowings 6,507 23,142 14,678 44,327 Total Financial Liabilities 17,846 23,142 14,678 55,666 Net Financial Assets (Liabilities) (9,169) (23,142) (14,678) (46,989)

SYDNEY CRICKET & SPORTS GROUND TRUST 65 SYDNEY CRICKET & SPORTS GROUND TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2009

16. ADDITIONAL FINANCIAL INSTRUMENTS DISCLOSURES continued

Liquidity Risk continued

1 Year 1 to 5 Over 5 Total or less Years Years $’000 $’000 $’000 $’000 29 February 2008 Financial Assets Cash & cash equivalents 2,021 – – 2,021 Trade & other Receivables 3,686 – – 3,686 GST Receivable 1,443 – – 1,443 Futures Contracts 361 – – 361 7,511 – – 7,511

Financial Liabilities Trade & other Payables 11,626 – – 11,626 Interest Payable 282 – – 282 Borrowings 1,793 9,392 4,850 16,035 Total Financial Liabilities 13,701 9,392 4,850 27,943 Net Financial Assets (Liabilities) (6,190) (9,392) (4,850) (20,432)

The Trust monitors rolling forecasts of liquidity reserves on the basis of expected cash flow. Forecast liquidity reserves as at 28 February 2009 is as follows:

28 February 2010 2011-14 $’000 $’000

Opening balance for the period 2,687 2,240 Operating Inflows 73,446 274,581 Operating Outflows (70,588) (242,538) Cash Outflows for Investments (3,305) (31,850) Proceeds from sale of Investments – – Financing Proceeds – – Closing balance for the period 2,240 2,433

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. The Trust holds a bank guarantee facility of $2.3M.

66 2008/09 ANNUAL REPORT SYDNEY CRICKET & SPORTS GROUND TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2009

17. CASH FLOW INFORMATION

(a) Reconciliation of Cash

For the purpose of the statement of cash flows, cash includes: cash on hand, and in banks, and investments in NSW Treasury Corporation Hour-Glass Facility. Cash at 28 February 2009 as shown in the statement of cash flows is reconciled to the related items in the balance sheet and accompanying notes as follows:

Consolidated Parent 2009 2008 2009 2008 $’000 $’000 $’000 $’000

Cash 660 853 660 853 NSW Treasury Corporation Hour-Glass 2,027 1,168 2,027 1,168 2,687 2,021 2,687 2,021

(b) Reconciliation from the profit to the net cash flows from operations

Profit/(Loss) for the year 26,215 31,588 26,215 31,588 Depreciation 8,865 7,979 8,865 7,979 Govt Grant (Financing Activity) (25,000) (25,000) (25,000) (25,000) Increase (Decrease) in Debt Transactions 182 (236) 182 (236) Loss (Gain) on Sale of Non–Current Assets 166 95 166 95 Increase (Decrease) in Creditors 1,111 (3,133) 1,111 (3,133) Decrease (Increase) in Inventories 10 22 10 22 Decrease (Increase) in Prepayments (1,405) 69 (1,405) 69 Decrease (Increase) in Receivables (500) 6,216 (500) 6,216 Increase (Decrease) in Provisions 30 113 30 113

Net Cash Provided by Operating Activities 9,674 17,713 9,674 17,713

Firmly committed long-term financing facilities of $100M were available to the Trust at 28 February 2009. As at that date, $44.327M ($16.035M in 2008) of these facilities was in use.

18. NEW AUSTRALIAN ACCOUNTING STANDARDS ISSUED BUT NOT EFFECTIVE

At reporting date a number of accounting standards adopted by the AASB had been issued but are not yet operative. At present New South Wales Treasury is mandating not to early adopt any of the new Standards/ Interpretations as per Treasury Circular TC 09/03. As such, these new Standards/Interpretations have not been early adopted by the Trust. It is considered that the implementation of these Standards will not have any material impact on the Trust’s financial results.

19. POST BALANCE SHEET

No post Balance Sheet date events have been recorded.

END OF FINANCIAL STATEMENTS

SYDNEY CRICKET & SPORTS GROUND TRUST 67 68 2008/09 ANNUAL REPORT SYDNEY CRICKET & SPORTS GROUND TRUST 69 SYDNEY CRICKET & SPORTS GROUND TRUST DIVISION INCOME STATEMENT FOR THE YEAR ENDED 28 February 2009

2009 2008 Notes $’000 $’000

REVENUE Personnel Services 12,381 10,977

Total Revenue 12,381 10,977

EXPENDITURE Salaries, Wages & on-costs 2 10,878 10,146 Superannuation 1,503 831

Total Expenditure 12,381 10,977

OPERATING RESULT FOR THE YEAR – –

The accompanying notes form part of these financial statements.

70 2008/09 ANNUAL REPORT SYDNEY CRICKET & SPORTS GROUND TRUST division BALANCE SHEET AS AT 28 February 2009

Notes 2009 2008 $’000 $’000

ASSETS Current Assets Receivables 3 2,812 1,520 Total Current Assets 2,812 1,520

Non-Current Assets Superannuation Asset 3 – 454 Total Non-Current Assets – 454 Total Assets 2,812 1,974

LIABILITIES Current Liabilities Payables 4 709 180 Employee Provisions 5 1,825 1,794 Total Current Liabilities 2,534 1,974

Non Current Liabilities Supperannuation Liability 5 278 – Total Non-Current Liabilities 278 –

Total Liabilities 2,812 1,974

NET ASSETS – –

EQUITY Retained Earnings – –

TOTAL EQUITY – –

The accompanying notes form part of these financial statements.

SYDNEY CRICKET & SPORTS GROUND TRUST 71 SYDNEY CRICKET & SPORTS GROUND TRUST division CASH FLOW STATEMENT FOR THE YEAR ENDED 28 February 2009

Notes 2009 2008 $’000 $’000

NET CASH PROVIDED BY OPERATING ACTIVITIES – –

NET CASH USED IN INVESTING ACTIVITIES – –

NET CASH USED IN FINANCING ACTIVITIES – –

NET INCREASE/(DECREASE) IN CASH AND CASH EQUIVALENTS – –

Cash and cash equivalents at the Beginning of Period – –

CASH AND CASH EQUIVALENTS AT END OF PERIOD – –

The accompanying notes form part of these financial statements.

72 2008/09 ANNUAL REPORT SYDNEY CRICKET & SPORTS GROUND TRUST division STATEMENT OF RECOGNISED INCOME & EXPENSE FOR THE YEAR ENDED 28 FEBRUARY 2009

Notes 2009 2008 $’000 $’000

Income and Expense recognised directly in Equity – – Profit for the Year – –

TOTAL INCOME AND EXPENSE RECOGNISED DIRECTLY IN EQUITY – –

The accompanying notes form part of these financial statements.

SYDNEY CRICKET & SPORTS GROUND TRUST 73 SYDNEY CRICKET & SPORTS GROUND TRUST division NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2009

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

(a) Reporting Entity The Sydney Cricket & Sports Ground 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 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 Road, Paddington, NSW.

The Entity’s objective is to provide personnel services to the Sydney Cricket & Sports Ground Trust.

The Entity commenced operations on 17 March 2006 when it assumed responsibility for the employees and employee-related liabilities of the Sydney Cricket & Sports Ground Trust. The assumed liabilities were recognised on 17 March 2006 together with an offsetting receivable representing the related funding due from the former employer.

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

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) Statement of Compliance The consolidated financial report for the year ended 28 February 2009 has been authorised for issue by the Audit Committee on 19 June 2009.

The division’s financial report complies with Australian Accounting Standards some of which contain requirements specific to not-for-profit entities that are inconsistent with IFRS requirements.

(d) Revenue Recognition Revenue is measured at the fair value of 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.

74 2008/09 ANNUAL REPORT SYDNEY CRICKET & SPORTS GROUND TRUST division NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2009

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES continued

(e) Receivables A receivable is recognised when it is probable that the future cash inflows associated with it will be realised and it has a value that can be measured reliably. It is derecognised when the contractual or other rights to future cash flows from it expire or are transferred.

A receivable is measured initially at fair value and subsequently at amortised cost using the effective interest rate method, less any allowance for doubtful debts. A short-term receivable with no stated interest rate is measured at the original invoice amount where the effect of discounting is immaterial. An invoiced receivable is due for settlement within thirty days of invoicing.

If there is objective evidence at year-end that a receivable may not be collectable, its carrying amount is reduced by means of an allowance for doubtful debts and the resulting loss is recognised in the income 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 is also recognised in the income statement.

(f) Payables Payables include accrued wages, salaries, and related on costs (such as payroll tax, fringe benefits tax and workers’ compensation insurance) where there is certainty as to the amount and timing of settlement.

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.

A short-term payable with no stated interest rate is measured at historical cost if the effect of discounting is immaterial.

(g) Employee Benefit Provisions and Expenses Provision is made for annual leave and long service leave estimated to be payable to employees as at 28 February 2009.

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 amounts expected to be paid when the liabilities are settled.

SYDNEY CRICKET & SPORTS GROUND TRUST 75 SYDNEY CRICKET & SPORTS GROUND TRUST division NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2009

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES continued

(g) Employee Benefit Provisions and Expenses continued Unused non-vesting sick leave does not give rise to a liability, as it is not considered probable that sick leave taken in the future will be greater than the benefits accrued in the future. Benefits for Rostered Days Off (RDOs) have not been accrued, as the Trust policy is not to cash out these balances.

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.

In accordance with the Australian Accounting Standard AASB 119 “Employee Benefits” liabilities arising in respect of wages and salaries, annual leave and any other employee benefits expected to be settled within 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 present value of the estimated future cash outflows to be made in respect of services provided by employees 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. The provisions for leave entitlements also include the relevant on-costs.

Superannuation - the Trust as an employer also contributes in respect of the compulsory basic benefit and superannuation guarantee levy to respective external superannuation funds as required by legislation.

Liabilities for superannuation are actuarially determined and contributions made to superannuation funds are charged against the provision. The Trust’s superannuation prepayment as at 28 February 2009 has been calculated and advised by Pillar Administration.

2. EMPLOYEE EXPENDITURE

2009 2008 $’000 $’000

Salaries & Wages 9,028 8,395 Annual Leave/Long Service Leave 867 815 Payroll Tax 615 590 Workers Compensation Insurance 173 195 Other 195 151 10,878 10,146

76 2008/09 ANNUAL REPORT SYDNEY CRICKET & SPORTS GROUND TRUST division NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2009

3. RECEIVABLES

2009 2008 Notes $’000 $’000

Current Parent Entity – Sydney Cricket & Sports Ground Trust 2,812 1,520 2,812 1,520 Non-Current Superannuation Asset – 454 – 454

Superannuation Asset A number of Trust employees are members of the State Authorities Superannuation Scheme (SASS) and the State Authorities Non-Contributory Superannuation Scheme (SANCS). All members are entitled to benefits on 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. The Trust also contributes to the plans.

These schemes are all defined benefit schemes – at least a component of the final benefit is derived from a multiple of member salary and years of membership. All the Schemes are closed to new members.

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 Superannuation Scheme (SASS) and State Authorities Non-Contributory Superannuation Scheme (SANCS).

Pillar Administration (Pillar) has advised the level of estimated superannuation surplus at 28 February 2009.

(i) Reconciliation of the assets and liabilities recognised in the Balance Sheet:

SASS SANCS 2009 2008 2009 2008 $ $ $ $

Present Value of Defined Benefit Obligations (1,955,000) (1,781,342) (238,164) (211,109) Fair Value of Plan Assets 1,759,144 2,234,295 156,315 212,455 Net asset/(liability) at year end to be disclosed in the Balance Sheet (195,856) 452,953 (81,849) 1,346

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.

SYDNEY CRICKET & SPORTS GROUND TRUST 77 SYDNEY CRICKET & SPORTS GROUND TRUST division NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2009

3. RECEIVABLES continued

(ii) Movement of the assets and liabilities recognised in the Balance Sheet:

SASS SANCS 2009 2008 2009 2008 $ $ $ $

Net asset/(liability) at start of year 452,953 544,131 1,346 17,429 Net income/(expense) recognised in the Income Statement (648,809) (91,178) (83,195) (16,083) Net asset/(liability) at year end to be disclosed in the Balance Sheet (195,856) 452,953 (81,849) 1,346

(iii) Actual Return on Fund Assets:

Actual return on Fund Assets (374,105) (13,685) (32,495) (1,496)

(iv) Economic assumptions

28 February 2009 29 February 2008 % % Salary increase rate (excluding promotional increases) 3.5% pa 4.0 pa Rate of CPI increase 2.5 2.5 Expected rate of return on assets backing current pension liabilities 8.3 7.6 Expected rate of return on assets backing other liabilities 7.3 7.6 Discount rate 4.45 6.3

78 2008/09 ANNUAL REPORT SYDNEY CRICKET & SPORTS GROUND TRUST division NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2009

4. PAYABLES

2009 2008 $’000 $’000

Current Accrued salaries, wages & on-costs 709 108

5. PROVISIONS

Current Annual Leave 1,050 1,107 Long Service Leave 775 687 Total Employee Related Provision 1,825 1,794

Non-Current Superannuation Liability Superannuation Liability 278 – Total Employee Related Provision 278 –

6. EMPLOYEE BENEFITS

Liability The aggregate employee benefit liability recognised and included in the financial statements is as follows:

Accrued salaries and wages 247 205

Provision for employee benefits: Current (note 5) 1,825 1,794 Non-Current – – 1,825 1,794

Total employee benefits liability 2,072 1,999

SYDNEY CRICKET & SPORTS GROUND TRUST 79 SYDNEY CRICKET & SPORTS GROUND TRUST division NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2009

7. ADDITIONAL FINANCIAL INSTRUMENT DISCLOSURES

The Trust’s principal financial instruments comprise receivables, payables, cash and short-term deposits. The Trust manages its exposure to key financial risks, including interest rates, in accordance with the Trust’s financial risk management policy.

The Trust reviews and agrees policies for managing each of the risks identified below.

The Trust considers that the Division’s exposure to key financial risks is minimal.

Derivative Financial Instruments

The Sydney Cricket & Sports Ground Trust Division holds no Derivative Financial Instruments.

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.

8. NEW AUSTRALIAN ACCOUNTING STANDARDS ISSUED BUT NOT EFFECTIVE

At reporting date a number of accounting standards adopted by the AASB had been issued but are not yet operative. At present New South Wales Treasury is mandating not to early adopt any of the new Standards/ Interpretations as per Treasury Circular TC 09/03. As such, these new Standards/Interpretations have not been early adopted by the Trust

It is considered that the implementation of these Standards will not have any material impact on the Trust’s financial results.

9. POST BALANCE SHEET EVENTS

No post Balance Sheet date events have been recorded.

END OF AUDITED FINANCIAL STATEMENTS

80 2008/09 ANNUAL REPORT Initial Budget of Income and Expenditure for the Year Ended 28 February 2009 & Outline Budget for the Year Ending 28 February 2010

Budget Actual Budget 2008/09 2008/09 2009/10 $’000 $’000 $’000

REVENUE Event and Venue Hire Fees 6,482 7,963 20,264 Catering 13,037 13,525 12,978 Premium Seating 6,443 4,348 6,128 Membership Fees 14,953 16,866 16,485 Private/Corporate Box Rental 5,067 4,116 4,501 Advertising & Sponsorship 5,297 5,934 5,591 Interest 170 437 225 Other Revenue 6,755 8,617 10,059 Sub Total 58,204 61,806 76,231 Government Grants 25,000 25,000 –

Total Revenue 83,204 86,806 76,231

EXPENDITURE Event Operating Costs 7,657 9,564 20,344 Liquor Expenses 6,407 6,574 6,369 Premium/Corporate Seating 5,050 3,657 4,257 Staff Related Expenses 12,953 13,452 13,769 Administration and Related Expenses 5,712 5,663 7,462 Ground Operation & Maintenance 6,469 7,346 6,663 Depreciation 8,140 8,865 9,843 Borrowing Costs 2,829 2,203 3,412 Marketing & Media 1,549 2,369 2,037 Superannuation Fund Allocation – 732 – Loss on Disposal of Assets 50 166 –

Total Expenditure 56,816 60,591 74,157

PROFIT 26,388 26,215 2,074

SYDNEY CRICKET & SPORTS GROUND TRUST 81 Ethnic Affairs Priorities Statement

The Trust’s Ethnic • The event day staff information Affairs Priorities Statement map has been updated to (EAPS) has been prepared to include more recognisable comply with the Ethnic Affairs symbols to identify facilities and policy requirements of the NSW spaces within the SFS Government. • A broader range of international cuisine available at the venues The NSW Government’s principles • Observation of religious of multiculturalism are included festivals, including respect in the Community Relations and support for individual Commission and Principles requirements during these of Multiculturalism Act 2000. festivals The Trust is committed to the • Community education initiatives principles of multiculturalism and involving the wide range of reviews its practices in terms of cultures in the community to leadership, community harmony, raise awareness of the history cultural diversity, access, equity and operation of the SCG and and economic opportunity. SFS Strategies • The SCG Tour Experience: thousands of schools and The Trust’s objective is to improve community groups have the multicultural service capacity participated in venue tours of the Trust’s venues. We continue of the SCG and SFS with an to achieve this through a number increase in the number of of strategies: international visitors in 2008/09 • Annual staff briefings on generated by active promotions cultural awareness relating to to international visitors through international events and their Tourism NSW. supporting patrons • Annual staff focus groups The Trust continues to show concentrating on the diversity consideration for multiculturalism of events and patrons attending in all aspects of its business, with • A scheme to assess and utilise the emphasis on effective training the foreign language skills of so that staff can abide by, and staff for the benefit of patrons implement the Trust’s multicultural for whom English is a second strategies. language • Greater use of internationally recognised symbols instead of words on venue directories • New venue signage throughout the SCG and SFS, symbols in favour of words have been used in the new Victor Trumper Stand as much as possible

Casual Event Day Staff Member

82 2008/09 ANNUAL REPORT Code of Conduct

In accordance with the NSW Personal and Token gifts may only be accepted Public Sector Code of Conduct, Professional Behaviour in circumstances approved the Trust has formalised a by the Chief Executive Officer In performing their duties, staff suitable Code of Conduct for where there is no possibility of should act professionally and its employees and contracted the recipient staff member being conscientiously, and: activities. compromised. All gifts must be • Provide all necessary recorded in the Trust’s gift register. The Code of Conduct sets assistance and deal standards of behaviour expected courteously with Members, the Fairness and Equity of Trust staff and is a guide to general public and corporate In dealing with issues, the Trust dealing with ethical issues. clients • Keep abreast of developments and its staff are obligated to treat The Code of Conduct requires in areas of their expertise by each matter promptly, consistently staff to act with integrity, honesty, reviewing circulated information and fairly, in accordance with loyalty to the public interest, and through ongoing training approved procedures and without fairness, conscientiousness and • Comply with government discrimination on any grounds. compassion. policy, legislative, industrial or administrative requirements Staff members have been advised Public Comment and • Ensure they do not harass that they should be familiar with the Use of Official or discriminate in their work their responsibilities in their Information practices and in the course positions and that a breach of Staff as members of the of dealing with fellow staff or standards and obligations may community, have the right to make members of the public involve discipline, dismissal or public comment either verbally • Report any unethical behaviour criminal conviction. or in writing, on political or social or wrongdoing to a supervisor. issues. However, there are some Principles situations where these comments Conflicts of Interest may be inappropriate. The public have the right to expect Staff members are to avoid any to be treated reasonably and Such a situation would be where financial or other undertaking equitably by the Trust or its staff. a comment could be construed that might directly or indirectly in some way as an official The NSW Government expects compromise the performance of comment made on behalf of the Trust staff to implement their duties. Each staff member Trust or Government, or, where Government and Trust policies has a responsibility to notify a the comment may be sufficiently effectively and efficiently. senior officer if a potential or strong as to be perceived actual conflict of interest arises. as criticism of the Trust or of Staff members have the normal Government policies. rights of employees under common law and within relevant Acceptance of Gifts or Benefits Staff members are asked, legislation. therefore, to refrain from making No staff member is permitted public comments that disclose to accept a gift or benefit, information not normally provided which could be construed as an to the general public. inducement to deviate from the proper course of duty.

SYDNEY CRICKET & SPORTS GROUND TRUST 83 Code of Conduct CONTINUED

Comments made should be Confidentiality of To be protected by the Act, a confined to factual information Personal Information disclosure must be made to an and should not express an opinion investigating authority, the Chief Staff members are entitled about Trust policy or practice. Executive Officer or the General to confidentiality and privacy Manager of Corporate Services with respect to their personal in accordance with the internal Use of Trust Facilities information. They have a duty reporting system established and Equipment to maintain the confidentiality, under Internal Reporting Policy, integrity and security of any such When using Trust resources, Protected Disclosures Act 1994. staff should do so with efficiency information to which they have and economy. Staff or others access in the normal course of should not abuse Trust property their duties. Dress Standard/ and services. Only when official Uniforms permission has been obtained, Disclosure of Where the Trust policy encourages may staff use the Trust’s Information the wearing of a type of dress, equipment or facilities for non- uniform, protective clothing or The Trust is entitled to the business purposes. identification for reasons of public protection and integrity of image or safety, staff members are the information it holds. Staff required to meet the appropriate Political Participation members are only permitted dress standard. Staff members need to ensure to release information when that their participation in political authorised to do so in the course All staff, on commencing matters does not bring them into of their duties. Staff members employment, sign a receipt for conflict with their duties with the are not to release information in item/s of uniform and property, Trust or the Government of the a manner which is misleading or which include their stated value. day. In the work place they should which may be misused. Upon ceasing employment with maintain political neutrality in To protect the integrity of official the Trust, if the employee does carrying out their duties. Trust information, any Trust not return item/s of uniform and information released by staff property in accordance with the Corrupt Conduct will not have attached to it any receipt, the Trust is entitled to expression of opinion on official deduct the value as stated on Staff must immediately report Trust policy or practice. the receipt from the employee’s to their Supervisor any corrupt wages at a depreciated rate. practice, theft or unethical act observed in the workplace. Protected Disclosures

Any perceived security or safety The Protected Disclosures Act issue that puts the staff member, of 1994 provides for avenues by the Trust or others at risk must be which staff can make protected reported. disclosures.

84 2008/09 ANNUAL REPORT Video Surveillance Occupational Health Use of Trust Records Upon entering the SCG and and Safety Staff members are required to SFS premises, all Trust staff The Trust will provide healthy comply with the Trust policy on movements are subject to and safe workplaces. It will take record management, which has monitoring by closed circuit all practicable actions to identify, been established to meet the television. This is in accordance evaluate and control those factors requirements and regulations of with the procedures and risk in the workplace that cause, or the NSW State Records Act 1998. management strategies operating have the potential to cause, injury within the workplace. or ill health. Guarantee of Service Trust management and staff are Outside Employment Misconduct Policy committed to providing a high Approval by the appropriate Failure to abide by the Trust’s standard of service: General Manager is required Code of Conduct will result in • Staff undertake training before staff may engage in any disciplinary action ranging from programs to enhance skills in form of paid employment outside a warning (verbal or written) to dealing with patrons. of their official duties. termination, depending on the • Response to all nature of the offence. This issue correspondence must be within In all cases when external is addressed separately in the 10 days of receipt of the initial employment is considered, staff Trust’s Misconduct Policy. enquiry. are required to give the Trust • Trust By-Laws must be applied primary consideration. Acceptable Use of consistently in operation of the Internet and membership provisions and Sexual Harassment Electronic Mail in terms of behaviour by all Policy/Equal patrons. Employment In the performance of their duties, • Staff must introduce Opportunity staff will utilise the computer themselves by name to all equipped workstations and the incoming telephone callers. In accordance with its Sexual related services accessible to • All staff employed on match Harassment Policy, the Trust will them, including the Internet and days and non-match days not tolerate sexual harassment electronic mail. The acceptable must wear name tags on their of any kind, and is committed use of these services is addressed uniforms. to equal opportunity and the in a separate standard, Standards • All staff must provide assurance that employment for Acceptable Use of the Internet courteous, helpful and friendly policies and practices are based and Electronic Mail. service. on the principle of merit.

SYDNEY CRICKET & SPORTS GROUND TRUST 85 Complaints handling/Privacy policy

Complaints Handling • Follow up: staff should SMS Communications ascertain whether the All permanent and casual staff The Trust complies with the complainant is satisfied that the of the Trust are encouraged to Australian Government Spam Act action taken was prompt and follow procedures for handling 2003. fairly determined within policy complaints over the telephone or guidelines, or should be subject in person. Staff are advised of the There are three basic guidelines to review by a more senior five key steps in responding to that the Trust adhere to: officer. complaints: 1. Consent – Commercial messages are only sent • Listen and be open- Staff have been advised that when there is consent either minded: staff are advised to they should express regret to the expressed or inferred demonstrate that the complaint complainant where the Trust has 2. Identify – Messages always is being taken seriously. been unable to fulfil a commitment contain clear and accurate • Respond with concern: made to the customer, where the identification of the Trust being staff should show empathy customer claims the organisation responsible for sending the and demonstrate their has made a mistake, if the message understanding of the complaint. customer has made an evidently 3. Unsubscribe – Commercial • Determine an action based justifiable complaint, or where the messages contain an on authority: staff should customer has been the recipient unsubscribe facility, allowing refer to established policy of poor service. and procedures to determine people to indicate that such an appropriate course of messages should not be sent action; staff should seek the Privacy Policy to them in the future. assistance of more senior The Trust understands that privacy personnel should additional is very important and that all Trust confirmation be required. user groups (staff, Members, • Take action promptly: staff are Sports Partners, media etc) have to seek assistance if required. the right to control their personal They should take responsibility information. to immediately address the complaint and set in motion the The Trust undertakes to act with determined action. integrity at all times when dealing with information entrusted it.

86 2008/09 ANNUAL REPORT Personal Details Website Usage Cookies Home addresses, e-mail Information Trust websites use cookies. addresses, telephone numbers, When accessing Trust websites, Cookies are small text files that fax numbers and other details our Internet Service Provider (ISP) are automatically placed on a submitted to the Trust are treated logs the following information for user’s computer. with the utmost privacy. standard statistical analysis: Cookies themselves do not The Trust will not make any • Server address of the ISP personally identify users, although information available to any • Date and time of the visit they do contain a unique identifier external party without the consent • Pages accessed which allows the website to of the person/s concerned unless: • Type of browser being used customise content based on a • Required by law • Statistics package provided by user’s previous selections, type of • We believe it necessary to our ISP which collates the data browser or type of computer. provide the person/s with a into information and graphs service requested for use in understanding the • To implement our terms of use E-Commerce usage patterns of visitors to the Transactions • To protect the rights or website. property of the Trust, any Trust Users should be aware that there user, or any member of the The statistics package does not are inherent risks in transmitting public identify any individual user during information across the Internet. • To lessen a serious threat to a this process. Information submitted when person’s health or safety. engaging in an online transaction with the Trust is passed through a The Trust will comply with any registered secure server. request from individuals to remove information about them, unless the The registered secure server information is required for fulfilling used by the Trust makes use of an existing service obligation to all available protective processes them. Our privacy officer can be for the security of e-commerce contacted by e-mail on information. [email protected] or by telephone on (02) 9360 6601.

SYDNEY CRICKET & SPORTS GROUND TRUST 87 Freedom of information

In NSW, the Freedom of Information Act 1989 provides the right to: • Access information held as records by State Government Agencies, a Government Minister, local government and other public bodies; • Request amendments to records of a personal nature that are inaccurate; and • Appeal against a decision not to grant access to information or to amend personal records.

There have been three requests for information under Freedom of Information provisions during the year to 28 February 2009.

In accordance with the Freedom of Information Act 1989, members of the public may seek information or enquire in person, by mail or by telephone, as follows:

Location: Trust Office Level 2, Sheridan Building Moore Park Road Moore Park NSW 2021 Postal Address: GPO Box 150, Sydney NSW 2001 Hours of Access: 9.00am to 5.00pm, Monday to Friday Telephone: (02) 9360 6601 Facsimile: (02) 9360 1319 FOI Officer: Mr Bernie Lamerton, General Manager – Corporate Services

Fees and charges are as follows: Nature of Application Application Fee Processing Charge

Access to records by persons* about their personal affairs $30 $30/hour after first 20 hours 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.

88 2008/09 ANNUAL REPORT INDEX

Advertising and Sponsorship Sales...... 23 Major Projects...... 13 Audited Financial Statement and Notes... 40 Managing the Assets...... 15 Budgets...... 81 Managing the Events...... 4 Business Development...... 20 Medical Incident Summary 2008/09...... 12 Capital Works Program...... 26 Minister’s Foreword...... 1 Catering...... 22 Occupational Health and Safety...... 18 Chairman’s Report...... 2 Official Overseas Travel by Trust Staff...... 29 Code of Conduct...... 83 Operating Income & Expenditure...... 22 Commercial...... 11 Organisational Chart...... 32 Complaints Handling/Privacy Policy...... 86 Payment of Accounts...... 27 Conservation Management Plan...... 18 Playing Surface Maintenance...... 17 Consultants...... 24 Revenue for Venue Hiring...... 22 Corporate Services Financial Report...... 22 Risk Management...... 11 Debt Management Performance...... 25 SCG Museum...... 19 Depreciation...... 25 Security and Access...... 11 Equal Employment Opportunity (EEO)..... 29 Service Providers...... 14 Ethnic Affairs Priorities Statement...... 82 Stadium Fitness Centre...... 21 Event Attendances...... 11 Statement by Members of the Trust...... 39 Event Operating Costs...... 24 Statutory Audit Report...... 38 Freedom of Information...... 88 Total Asset Management Plan...... 18 Ground Operation and Maintenance...... 25 Transport, Traffic and Access...... 13 Human Resources...... 29 Trustees...... 33 Information Technology...... 31 Trust Charter and Constitution...... 36 Insurance...... 25 Trust Meetings...... 37 Investment Management Performance.... 23 Victor Trumper Stand...... 16

2008/09 ANNUAL REPORT