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OUTSIDE COVER SPINE 6.088MM & Ground Trust Annual Report 2007/08

2007 2008 Sydney Cricket & Sports Ground Trust Annual Report 2007/08

SPINE 6.088MM INSIDE COVER LEFT SPINE 6.088MM INSIDE COVER RIGHT – LAST PAGE

TABLE OF CONTENTS

Minister’s Foreword ...... 1 Chairman’s Report ...... 2 Managing the Events ...... 8 Managing the Assets ...... 20 Major Projects ...... 26 Commercial and Operations ...... 27 Service Providers ...... 30 Marketing and Membership ...... 31 Business Development ...... 33 Corporate Services Financial Report ...... 35 Information Technology ...... 42 Organisational Chart ...... 43 Trustees ...... 44 Financial Indicators ...... 47 Statutory Audit Report ...... 48 Statement by Members of the Trust ...... 49 Audited Financial Statement and Notes ...... 50 Ethnic Affairs Priorities Statement ...... 92 Code of Conduct ...... 94 Complaints Handling/Privacy Policy ...... 97 Freedom of Information ...... 99 Trust Charter and Constitution ...... 100 Trust Meetings ...... 101

2007/08 ANNUAL REPORT

SPINE 6.088MM minister’s foreword

The and The Trust successfully secured the Sydney Football both an extension to its hiring continue to provide world class agreement with the Sydney facilities for Members, patrons, Swans for the continued staging and competitors. of home games at the SCG until 31 October 2016, and a new During the past year, the venues with the former have hosted a strong program UTS-Balmain Cricket Club to of sporting events with over one establish the . million spectators attending Test and Mr Basil Sellers is to be cricket, , rugby congratulated on the league, AFL and the football establishment of the Basil Sellers A-League competition. Sports Sculptures Project.

In recognition of the importance of I appreciate the Trust’s support this venue to sports lovers across for charitable and community NSW, the Iemma Government events, and its acknowledgement is supporting the project by of longstanding ground Members providing significant capital holding 70 years of continuous funding towards construction of membership of the Sydney the new Hill Grandstand. Cricket Ground.

The Trust’s capital works I thank the Trust Chairman, program of $53 million in projects Rodney Cavalier, his deputy John undertaken during the year saw Cloney, their fellow Trustees and the completion of the NSW Rugby management for their efforts in the Centre of Excellence building, past year. the Centre providing state of the art facilities and administrative headquarters for the Waratahs.

The year also marked the opening of refurbished administration offices and players facilities for the at Moore Park. THE HON. GRAHAM WEST, MP Minister for Gaming and Racing Minister for and Recreation

SYDNEY CRICKET & SPORTS GROUND TRUST 1 chairman’s report

The Trust exists to serve the glory The Club Rugby After a relatively poor start the of sport. This report covers the year was staged at the SFS on Sydney Roosters finished the which ended on 29 February 2008, Saturday 28 July 2007. Sydney season strongly. An all-time great, another 12 months of wonderful University became the fifth team , took over as caretaker moments on our two grounds and in history to win three successive coach mid-season. Within a game all the lands in between. First Grade Premierships. he was looking like he had spent half his life preparing for this The Super 14 season is starting so Work by the Trust on the other challenge. In August 2007 Brad very early now, toward the end of side of Driver Avenue has assisted signed as Head Coach for 2008 summer. March had the various football codes. Inside and 2009. The Roosters secured only just begun when NSW played Moore Park, adjacent to Kippax a major signing at the beginning of the Western Force. While the form Lake, the Trust has built a new, 2007 when it secured of the newcomer to the provincial modified-size training field. Players for three years. The annual match ranks of Australian Rugby was a appreciate having so much so between the Sydney Roosters credit to all those who had backed proximate – their home ground for and St George Illawarra Dragons a western side, the efforts of NSW intensive drills, a training field for was played at the Sydney Football on the other side of a drab draw expansive practice, a gym which is Stadium on , a match were all too accurately an indication theirs exclusively, swimming pools otherwise notable because in their of the season ahead. NSW had a and a retreat. separate guises as Easts and the poor season, its prospects for the Sydney FC finished third in the Roosters, the club celebrated its semi-finals gone before much of 1000th win. The SFS staged the the season had passed. A-League season. It signed as the new Head Coach preliminary final between Manly- Neither NSW Rugby nor its mid-season. Sydney FC made it to Warringah and North . culture depend on any one the Finals Series with a nil all draw The is an season. In July NSW Rugby in the first leg at the SFS on Friday occasion established by the Trust demonstrated its confidence in 25 January before losing 0-2 to to celebrate the foundation clubs its future and its commitment to Queensland Roar in the second leg. of the Sydney Premiership. It was these grounds when it opened held on Saturday 23 February the NSW Rugby Centre of The Football Stadium was chosen as the venue for the A-League at the : Excellence to the rear of the Sydney Roosters (Easts) and Football Stadium. The centre Grand Final between the Central Coast Mariners and the Newcastle (Balmain and Wests) brings together in the one place fought a close contest. the administrative divisions of Jets on Sunday 24 February. Rugby and facilities which are This coincided with the v state of the art for training and One Day International match teaching, an area where the at the SCG. Quite a day it was. players can relax or undertake Over 37,000 spectators filled the quiet, purposeful work. The Stadium to watch Newcastle win arrangement of the space 1-0. This was Newcastle’s first indicates the premium Rugby A-League Championship. has placed on caring for its players off the field.

2 2007/08 ANNUAL REPORT The Trust undertook the Readily, we reached agreement The sight of our members on stairs commissioning of sculptures of on the ten subjects. There would and overhead walks, the numbers ten of the greatest sportsmen be four cricketers, two rugby craning all the way back to the who had played on any of our league, two rugby union, two practice nets, indicated the depth grounds during the past 150 Australian Football. We decided of interest. The Governor of NSW, years. The sculptures project was the sculptures would not be in one Professor Marie Bashir, announced a benefaction from Basil Sellers, place – not a circle, not a grove, the identity of the subject and the Australian businessman and not a cluster. We decided we proceeded to lift the shroud to philanthropist, a serious devotee would not employ a single artist, overwhelming applause. Her of cricket and Australian Football. a decision that has enabled the speech that day re-established her Mr Sellers approached me during project to be moving forward on already positive image as a leading the Test Match in January to several fronts and a wide variety medical practitioner and thinker as determine if the Trust would accept of styles. No one was going to a woman who had watched a lot of the funds that would make possible be rushed. All the artists would serious cricket in her younger days. a series of sporting sculptures. be residents of NSW. Yet, neither the Trust nor Mr Sellers had ever The unveiling during the Test The answer was a most definite commissioned sculptors before. added to the specialness of yes. Before deciding on subjects We were most fortunate that the occasion. The Test against or artists or a timeframe, we Henry Mulholland, a Sydney India was certainly special – one had several meetings on the artist and critic, offered his of the most dramatic of the parameters. We took a trip to services in identifying sculptors modern era. India was behind to examine what the capable of realising our high in the series. They had played MCG had done, we looked at standards for facial exactness well enough to win in Sydney, statues in public places in other and sporting authenticity. decision after decision by the parts of Sydney and Melbourne. umpires appeared to disadvantage Discussions flowed without a The calendar dictated that the India, harsh words were spoken, single document passing back first subject would be a cricketer. some capable of racist meaning. and forth. A handshake The choice of The basics of a gentlemen’s committed Mr Sellers to a enabled us to launch the project agreement had broken down. significant benefaction and with a man who would enjoy The tension between the two committed the Trust to making universal acclaim. We selected sides was a reminder that the the locations available. , a man who Laws of Cricket go only so far if had delivered many commissions the essential spirit of the game in a distinguished career, to is not acknowledged by both bring Richie to a bronzed life. It teams. Coming into the final overs, helped that Terrance loves his India had forfeited all chance of cricket dearly, Richie had been victory, they had fought well when a childhood hero. On the third collapse was looming. Only two day of the Test the sculpture overs remained and they had their was concealed inside a shroud. draw. The balls remaining were A huge crowd gathered at the more than sufficient for Michael back of the Ladies Stand to hear Clarke to bowl a succession of the announcement and see the deliveries that forced the batsmen finished work for themselves. to play strokes. The batsmen’s uncertainty rendered them feeble in dealing with deliveries on a full

SYDNEY CRICKET & SPORTS GROUND TRUST 3 chairman’s report continued

length that were bouncing sharply. The SCG hosted the Rockin’ is most grateful to the Premier, The Sydney Cricket Ground again for Rights rally organised by , and his Treasurer, was host to five days of gripping Unions NSW on Sunday 22 April. Michael Costa, for making these cricket and a most remarkable Acts included the , funds available. final day. Magic Dirt, The Whitlams, Deni Hines, Richard Clapton and The Trust’s borrowings were The victory was Australia’s 16th Mark Seymour. Live Earth was extended by $8.4 million in the in succession. A total of 118,871 a concert held at the Sydney past year in order to conduct an patrons attended the Test. The Football Stadium to help raise extensive capital works program. occasion was poignant for reason awareness of the dangers of Debt now stands at $16 million. it would be the last time that Adam climate change. The concert in During 2007-08 the Sydney Gilchrist, a boy from Lismore, was Sydney was one of several across Cricket Ground and Sydney playing his last Test on the sacred the planet that brought together Football Stadium hosted 92 soil. The game had been one of over two billion people in the events which attracted over the highest run scoring games space of 24 hours. Ours, on 1,000,000 patrons. Membership in the history of . Saturday 7 July 2007, was the subscriptions generated revenue VVS Laxman, , first of seven. The Sydney concert of $11.1 million compared to $10.8 , Matthew included performances by million recorded in the previous Hayden and Crowded House, Wolfmother, year. Membership sales were scored centuries. The international John Butler Trio, , strong, the waiting list for the SCG cricket season included three One , Sneaky Sound was growing, Gold membership Day International matches played System and international artist was in heavy demand. Years at the Sydney Cricket Ground. Jack Johnson. The crowd of after what was once heralded as 44,306, their excitement and their The NSW first class side had competition, the Trust has more mobility required the use of the an outstanding season in the members, more events and larger back of the SCG. The atmosphere interstate domestic competition. profits. Our marketing people was akin to the lunch break on the Being undefeated at the SCG – the were sufficiently confident of first day of a Test. players’ preferred ground – placed the position of our grounds and NSW at season’s end on top of The Trust’s operations for the facilities in the market that they the table with . Run rates financial year ended 29 February recommended the introduction accorded NSW the right to host 2008 resulted in a profit of $31.6 of Platinum membership. The the final. Three interstate one-day million compared to $5.5 million response has been astonishing. games were played at the SCG. in the previous year. The number Sales of Gold and Platinum membership generated $5.8 performed well at masks the once-only $25 million grant towards the construction million, compared to $4 million their home ground – the side won in the previous year. seven of the eight matches held of the Hill Grandstand received at the SCG. Their average crowd from the State Government. The attendance was 25,183. Ground underlying profit on operations is capacity owing to construction on a no less impressive $6.6 million. the Hill was an issue. Members In last year’s Annual Report I will enjoy many more Sydney expressed my confidence that Swans fixtures at the SCG after an the NSW Government would extension of the agreement with match the generosity of the then the Trust until October 2016. Howard Government. The Trust

4 2007/08 ANNUAL REPORT The commencement of the Hill past. No one has commented The SCG Museum, located below Grandstand (unnamed during on the irony of shooting images the Ladies Stand, is a glorious the time of reporting) has of coming matches that will be example of what becomes pushed spending on the Capital staged elsewhere. possible with dedicated staff Works Program to $53 million and some money to spend. Holy for the year. Our builders tried In late 2007, the Sydney Roosters objects are accumulating as a to ameliorate the temporary relocated their administration and result of the generosity of former difficulties of the construction team facilities to the previous NSW players and their families and stage by installing approximately Rugby Union building in the Gold those who know the SCG is the 3,000 public seats for the Test Members Car Park after NSW ultimately safe refuge for objects Match in the lower concourse Rugby moved into its new centre. too precious to be kept at home. seating deck. By the first One The Trust has sought to connect Five of the six SCG light towers Day International match between with its more recent past by were upgraded in August 2007. Australia and Sri Lanka 4,000 commissioning an oral history Works included the removal of public seats were available. project. Dr Warwick Franks, the old head frames and the seriously knowledgeable about all lights extending down the tower There was a lot of building work sports but especially cricket, had shaft with a new galvanized head around our grounds. We were conducted forty-four interviews. frame. The final light tower will be about attracting new clients, The list has been expanded to re-erected mid 2008 as part of relocating established (and 60 prospective interviewees in the SCG Hill Grandstand works. satisfied) clients. The Trust has order to cover the many diverse Once complete the lighting level been building a separate and aspects of the various grounds on the field will increase from reliable income stream based on that have fallen within the Trust’s 1,500 lux in the centre to 2,000 rental from offices on our lands. care and management, including lux. The new lights save 30 per Hirers are delighted to be located the much lamented Sydney Sports cent in energy consumption. in this part of Sydney – especially Ground as well as all sports and so are their staff. The presence A new three-storey office building activities ever conducted here. of hirers has meant that our café with a gross area of approximately The collections of once and walkways are the location for 3,500m2 was at an advanced unregarded ephemera such as chance, providential encounters stage. Its location is on Moore admission passes, badges and between players across sports, Park Road in the north-west programs are much valued. former greats, visitors from corner of the Sydney Football abroad. So regularly as almost to Stadium. It will eventually house a be without comment, the Trust Sports Medicine Clinic, SFS event grounds are the preferred location day facilities for police, medical for media announcements, media and staff, new offices for AFL conferences, meetings of CEOs (NSW/ACT), the Sydney Football and conferences. It remains a Club and the Trust’s new offices. matter of some small pleasure that the stands of the SCG, in particular are the preferred background for evocative images of coming matches and moments

SYDNEY CRICKET & SPORTS GROUND TRUST 5 chairman’s report continued

Never once did the Trust and As part of the introduction of In 2007 a consultant analysed the staff forget it is in the business a new tier of sponsorship, membership database to prepare of growing grass. The Coca-Cola Amatil became the a segmentation framework. The square at the SCG is the finest in first corporate partner to be result is seven primary segments Australia. Consistently, it earns the elevated to Icon status. Icon which can be treated differently praise of the Australian captain status will provide opportunities according to their core profiles, and the cricket authorities. By for leveraging against the behaviours and motivations. cutting and rolling and placing the association with the Trust. Segmental analysis allows the covers, by being attentive to each Business Development have Trust to understand the way each and every square inch, the sacred completed a three month project segment group views the Trust soil was able to accommodate with Ernst & Young aimed at brand, our products and benefits. 48 days of cricket during a long increasing the level of revenue cricket season. The work began growth, client relationship New SCG elected Members were as soon as the Swans completed management and cost efficiencies invited to attend an informative their season. Tom Parker and via the introduction of a new induction prior to the Australia v his ground staff returfed four of strategic approach and the Chappell-Hadlee the nine pitch wicket squares, necessary technology and Trophy One Day International attended to minor outfield turf infrastructure support. match in 2007. The Trust has replacements and set about secured reciprocal rights with eradicating winter grass. Expressions of interest were the Australian Jockey Club. Trust invited for registered charities to Members may attend racing events Following the Live Earth Concert become an official SCG Trust held at both Royal Randwick and the SFS playing field was returned Charity for the next two years. Warwick Farm racecourses. to premium condition for the next The six charities successful in event held shortly after. There was being selected for preferred only minor discolouration at the Charity status until June 2008 far northern end of the field. The are St Vincent de Paul Society, SFS playing surface was in great Juvenile Diabetes Research shape for the start of the 2007-08 Foundation, Kidney Health A-League season in August and Australia, Canteen, Lupus leading into the NRL Final Series. Foundations of NSW, Sir Roden The state of the SFS was a Cutler Charities Inc. tribute to Michael Finch and his ground staff.

6 2007/08 ANNUAL REPORT Acknowledgements John Cloney has been the perfect Deputy. In a difficult year The Trustees tried to acknowledge for the finance sector – where the passing of those who had his company is a world leader made a significant contribution to – John has never been missing our grounds. Trustees observed when needed. I thank him for his silence for the passing of Mrs tireless support and infinitely wise Jill Bartels, Mr and counsel. I have certainly needed Mr , MBE OAM. that counsel. The tributes are recorded in the Minutes of the Trust. I thank our Chief Executive Officer, Jamie Barkley, for his work across I thank each of the Trustees for such different fields. There is their loyalty, service and their own no such thing as a typical day distinctive contributions. Many of in the Trust or its relationship to our Trustees have a plenitude of the world of sport and events. board and committee obligations From around the world, the here and overseas. Each of them leaders of other stadia and sports has said (and volubly) how much businesses find value in consulting they look forward to the meetings of the SCG business model. The the Trust. Vigorous debate, serious clue is that the staff of the SCG dissent, determination about an know that they are in more than outcome have made the decisions a business, their responsibility is reached decisions that belong to to more than quarters and profit the collective effort. No Trustee outcomes. Yet, in serving a wider has ever felt they were denied the glory, they each contribute to opportunity to advance a case. financial performance of the only sports grounds that make a profit in NSW or ever will.

Through Jamie I thank his senior managers, the staff of the Trust and all of the event day people.

It has been a privilege to serve.

RODNEY CAVALIER, AO Chairman

SYDNEY CRICKET & SPORTS GROUND TRUST 7 MANAGING THE EVENTS CRICKET

6.34pm, Sunday 6 January – Day Five, Australia v India.

8 2007/08 ANNUAL REPORT International Cricket NSW Cricket Sydney Cricket Club History was created at the Sydney The NSW SpeedBlitz Blues In August the Trust entered into a Cricket Ground on Sunday 6 enjoyed an outstanding year in the partnership with the former UTS- January 2008. Australia won Pura Cup. They went through the Balmain Cricket Club to form the their 16th consecutive Test season undefeated to finish on top Sydney Cricket Club. The club Match. Michael Clarke took three of the table alongside Victoria. launched its new social playing in a single over to clinch a division on Thursday 20 December The SpeedBlitz Blues played five dramatic victory against India on with a convincing win against St home games at the SCG. They day five of the Test Match. won three and drew two. The George District Cricket Club in the team’s performance earned inaugural Tiger Cup at the SCG The Test was the last at the SCG them the right to host the final for . Regarded as at the SCG. one of our nation’s greatest wicket SCG Country Cup keeper/batsmen, Gilchrist lived up ’s contribution was The Merewether District Cricket to the legend on day three when a total of 1,328 runs (excluding the Club was victorious in the he took his 400th dismissal. final) with an average of 102.15. He SCG Country Cup held on He is only the second wicket is the highest NSW run-scorer in a Sunday 20 January 2008. The keeper to do so after South first-class season. He notched up same finalists have played two Africa’s Mark Boucher. five centuries, to equal the most years running with the same first-class centuries in a season outcome. Merewether dominated The Test Match produced one by a NSW player. the Tamworth Cricket Club. of the highest run-scoring games Merewether won by six wickets. in the history of Test cricket. Three Ford Ranger Cup games VVS Laxman, Sachin Tendulkar, were played at the SCG. The Andrew Symonds, Matthew SpeedBlitz Blues won one, drew Hayden and Michael Hussey hit one, one match abandoned impressive centuries. owing to wet weather.

There was strong Member support. A total of 118,871 patrons in attendance.

The 2007/08 International Cricket Season included three One Day International matches. The first match in December was washed out; Australia’s two remaining matches against Sri Lanka and India attracted strong Member and public attendance.

SYDNEY CRICKET & SPORTS GROUND TRUST 9 MANAGING THE EVENTS AFL

Sydney Swans When Michael O’Loughlin ran onto the field on Sunday 8 July The Sydney Swans put in an for his 261st game, he celebrated exceptional performance on their a club milestone by recording the home ground. Despite the limited highest number of games played seating capacity of approximately for the Sydney Swans. This same 34,400 owing to construction, an day saw celebrate average of 25,222 fans attended his 200th club game. Other the games. The Swans won seven outstanding achievements came of their eight matches. at the end of the Sydney Swans 2007 season with The highlight was the match winning the Skilton Medal as Club against Carlton on Sunday 15 July. Champion for the second time. The Swans kicked their highest score of the season, decisively Following a strong performance defeating the Blues with a final in 2007, Members will enjoy many score of 25.12(162) to 15.10(100). more Sydney Swans fixtures at the SCG with the club extending The Sydney Swans’ final home their agreement with the Trust to game for the 2007 season on play home games at the SCG until Sunday 2 September attracted October 2016. their largest home crowd with an attendance of 27,498. Fans did not leave disappointed, with the Sydney Swans scoring 22.9(141) in an emphatic win over Hawthorn 10.9(69).

10 2007/08 ANNUAL REPORT Sydney Swans v Hawthorn Hawks – Sunday 2 September.

SYDNEY CRICKET & SPORTS GROUND TRUST 11 MANAGING THE EVENTS RUGBY UNION

NSW Waratahs v Western Force – Friday 2 March.

12 2007/08 ANNUAL REPORT NSW Waratahs International By their own standards, 2007 In-bound Tour was a disappointing year for An International In-bound the Waratahs in the Super 14 Tour Match was held at the competition. The team finished Sydney Football Stadium in May. 13th. The Waratahs were victorious Australia A defeated by in three of their seven home games an impressive 60-15. The match at the Sydney Football Stadium, featured a number of sensational drew one and lost three. performances by future rugby stars, including Lachie Turner New recruits Kurtley Beale and from the Waratahs, who scored Lachie Turner delivered superior three tries. performances during the season. Lachie Turner was awarded the Australian Super 14 Rookie of Rotomahana Challenge the Year. The third consecutive The third annual Rotomahana Waratahs player to do so. The Challenge was held on Thursday average attendance at Waratahs 7 February 2008. The Waratahs fixtures was 20,831. Total took on the Canterbury Crusaders attendance was under 150,000 at the SFS in unfavourable for the season. weather conditions. Despite the torrential downpour, the Waratahs Captain Phil Waugh returned to proved their dominance over the the team in 2008 after sustaining Crusaders by coming from behind an ankle injury that sidelined him to secure a 24-14 victory. for nine matches in 2007. was a welcome inclusion to the NSW Waratahs squad as Club Rugby Grand Final an off-season recruit, bringing The Sydney Football Stadium was with him a wealth of skills and the scene for the Club Rugby experience from . Grand Final on Saturday 28 July between Sydney University and . Sydney University made history as the fifth team to win three successive first-grade premierships when they defeated Eastern Suburbs 34-11.

SYDNEY CRICKET & SPORTS GROUND TRUST 13 MANAGING THE EVENTS RUGBY LEAGUE

Sydney Roosters In a positive off-the-field move, Foundation Cup the Sydney Roosters relocated After a relatively disappointing In 2008 the second Foundation their football and administrative start to the 2007 NRL Season, Cup was played between the operations to the SFS in October. the Sydney Roosters finished Sydney Roosters and Wests strongly by placing just out Tigers. After a tightly contested of the final eight. The Sydney ANZAC Day game, the Sydney Roosters Roosters scored a major victory The annual ANZAC Day clash managed to clinch victory with a at the end of 2007 with Australian between the Sydney Roosters late try, retaining the Cup with a representative, NSW State of and the St George Illawarra final score of 34-28. Both teams Origin player and ex-Bulldogs Dragons was held at the SFS named near full strength line-ups star Willie Mason signing with the on Wednesday 25 April 2007. that included Sydney Roosters Sydney Roosters for the next Following a sluggish start to the new recent recruits Willie Mason three years. season, the Sydney Roosters and Mark O’Meley and Wests Tigers’ superstar, . Highlights for the Sydney Roosters, made the match a memorable came in the second half of the one by recording their 1000th season when they took on the win. Considered one of their best Cowboys in torrential weather, performances of the year, the winning 64-30. The impressive Sydney Roosters produced a result represents their biggest decisive 18-4 victory against win since the legendary victory the Dragons. recorded by Dave Brown’s side in 1935. NRL Final Series Former Sydney Roosters Under the new National Rugby player Brad Fittler took over as League Final Series format, the caretaker coach mid-season, SFS staged the preliminary final and immediately settled into his between the Manly-Warringah new role by leading the Roosters Sea Eagles and the North to victory over the Cronulla Queensland Cowboys on Sharks, 23-12, in his first game. Saturday 22 September. Manly He became only one of nine demonstrated their superiority caretaker coaches to achieve this over the Cowboys before an in 60 years of the game. Fittler elated 30,473 fans; going on followed up his auspicious start to play in the to the season with wins against Grand Final. Newcastle (20-17) and against the eventual premiers, Melbourne Storm (26-16). In August, Brad Fittler signed as Head Coach of the Sydney Roosters for the 2008 and 2009 NRL seasons.

14 2007/08 ANNUAL REPORT Sydney Roosters 1000th win: , and Shaun Kenny-Dowall.

SYDNEY CRICKET & SPORTS GROUND TRUST 15 MANAGING THE EVENTS FOOTBALL

Sydney FC v Central Coast Mariners – Sunday 28 October.

16 2007/08 ANNUAL REPORT Sydney FC Prior to the 2007/08 A-League season, Sydney FC competed Sydney FC had an exciting in the AFC Champions League, season, finishing third in the hosting the Urawa Red Diamonds 2007/08 A-League while signing and Shanghai Shenhua at the several high profile international SFS in March 2007. Despite two players and a new coach mid- draws in their matches at the SFS, season. One of the highlights Sydney FC only just missed out on was Sydney FC’s final game qualifying for the knockout stage against Melbourne Victory which of the competition. attracted a record crowd of over 33,000 fans to the Sydney Football Stadium and ended in A-League Grand Final an entertaining draw. The SFS was chosen as the venue On Friday 25 January, Sydney for the 2007/08 A-League Grand FC made it through the first leg Final between the Central Coast of the A-League Final Series with Mariners and Newcastle Jets on a thrilling nil all score line, before Sunday 24 February. This game losing 2-0 to the Queensland Roar coincided with the Australia v India in the second leg. One Day International at the SCG.

The 2007/08 season saw a total of The event was an outstanding 174,826 spectators attend Sydney success with over 37,000 FC matches, with an average spectators filling the stands at the crowd of just under 16,000. This SFS to watch the Newcastle Jets represents a substantial increase defeat the Central Coast Mariners from the 2006/07 A-League 1-0. In a match notable for its season in which Sydney FC controversy, the Newcastle Jets narrowly missed out on a place took out their first ever A-League in the Grand Final. championship thanks to a single goal by .

SYDNEY CRICKET & SPORTS GROUND TRUST 17 MANAGING THE EVENTS SPECIAL EVENTS

Concerts Live Earth On Saturday 7 July, history was Rockin’ for Rights Rally created when Sydney hosted the The Sydney Cricket Ground Live Earth Concert at the Sydney hosted the Rockin’ for Rights Football Stadium, attracting a rally, organised by Unions NSW crowd of more than 44,306. The on Sunday 22 April. The rally seven continent, 24-hour global started in Sydney’s Hyde Park event brought together over two before proceeding to the SCG billion people via television, radio where a large crowd enjoyed a and the internet in a call to action concert featuring the Hoodoo to combat the climate crisis. The Gurus, Magic Dirt, The Whitlams, Sydney concert was the first to Deni Hines, Richard Clapton and kick off the mammoth event and Mark Seymour. featured the music of Crowded House, Wolfmother, John Butler Trio, Missy Higgins, Eskimo Joe, Sneaky Sound System and international artist, Jack Johnson.

18 2007/08 ANNUAL REPORT Live Earth Concert – Saturday 7 July.

SYDNEY CRICKET & SPORTS GROUND TRUST 19 MANAGING THE ASSETS

SCG Hill Grandstand With the commencement of construction on the new Hill Grandstand, the Capital Works Program funding totalled $53 million over the last year.

Preliminary work on the Hill Grandstand project began immediately following the 2006/07 International Cricket Season. Decommissioning of plant and equipment occurred as well as the salvaging of items prior to demolishing the structures between the O’Reilly Stand on the east and the Churchill Stand on the west of the new grandstand site. The electronic video screen was relocated to its new position and a second electronic video screen was installed in the upper seating deck of the Churchill Stand. The early works package included demolition of signage structures, the Hill’s concrete terraces and removal of the old scoreboard and two light towers. Excavation was then carried out below the new ground level. Early works were completed by the middle of May and the main building works package commenced.

The new grandstand was substantially out of the ground in time for the 2008 Test Match between Australia and India. In the lower concourse seating deck, approximately 2,500 public seats were on offer for the Test Match. By the first One Day International match between Australia and Sri Lanka on Friday 8 February, some 4,000 public seats were available.

20 2007/08 ANNUAL REPORT The new Hill Grandstand will Sydney Roosters Once completed, the new sports feature a similar design to the lighting project will increase the In a historic move, the Sydney existing Churchill and Brewongle lighting level on the field from Roosters relocated their Stands, providing seating for 1,500 lux in the centre to 2,000 lux administration and team patrons over three levels. The over the entire playing field, with operations to the former NSW completion of the Grandstand in the new lights saving 30% Rugby Union building in the Gold late 2008 will significantly enhance in energy consumption. Members Car Park in October. existing facilities at the Sydney A complete re-fit of the ground Cricket Ground and meet the floor of the two-storey building Sports Medicine Clinic Trust’s dual objectives of providing for their gym, medical rooms, world-class spectator facilities and A new three-storey office building coaches offices and players increased spectator capacity. with a gross area of approximately lounge was carried out, with 3,500m2 is being constructed the first floor being refurbished along Moore Park Road in the NSW Rugby Centre to accommodate commercial northwest corner of the Sydney of Excellence staff. The move signified the Football Stadium. The building The NSW Rugby Centre of start of a new era for the Sydney will have a lift and stair entry on Excellence reached practical Roosters with their club operations the lower ground floor and will completion on Monday 30 July. becoming centralised. accommodate a Sports Medicine Catering for all facets of NSW Clinic and SFS event day facilities Rugby’s operations, the multi- SCG Sports for police, medical officers and level facility has become the new Lighting Upgrade staff. The first floor will house home of the NSW Waratahs. offices for the AFL (NSW/ACT), the In August, five of the six light Team specific spaces are located Sydney Football Club and FanFirm, towers were upgraded as part on the ground floor, and include while a new Trust Administration of the Trust’s plan to provide a gymnasium, medical and office will be located on the state-of-the-art on-field lighting. treatment rooms with hot and cold second floor. At this stage, the Works included replacing the old spas, change room and locker project, which commenced in May, head frames and lights extending facilities, team meeting rooms, a remains on target for completion down the tower shaft, with new lecture theatre/media conference in June 2008 and under the galvanised head frames and room, a players lounge and budgeted $10 million. lights. The new structure has kitchen. Level one accommodates between 98 and 108 lights per NSW Rugby’s Sydney-based tower and features 2kw lamps in administration, with space for over a system, which produces greater 60 staff. This level also includes lighting intensity while minimising a fully equipped boardroom, spillage. These have replaced meeting rooms and dedicated the old 3.5kw lamps. Additional IT and video analysis facilities. permanent lights have been installed on the roof edges of the O’Reilly, Churchill and Brewongle Stands. The final light tower will be erected by mid-2008, as part of the Hill Grandstand works.

SYDNEY CRICKET & SPORTS GROUND TRUST 21 MANAGING THE ASSETS CONTINUED

Strategic Asset SCG Playing Field SFS Playing Field Management Plan The 2006/07 cricket season saw The playing surface of the SFS The Trust’s 10 year Strategic Asset 43 days of cricket played out of was in excellent condition with a Management Plan (SAMP) was a scheduled 50 days. Renovation complete coverage of couch grass updated in October 2007. It has works commenced immediately for the commencement of the been prepared in accordance after the season, rendering the 2007 Super 14 season, the with State Government guidelines playing field in excellent condition NRL season and the Asian and contains compliance and for the Sydney Swans first home Champions League. condition assessment results, game on Sunday 15 April 2007. asset management strategies All eight home games for the The SFS was inundated with wet and a life cycle costing. The asset 2007 Sydney Swans season were weather from May to July with management strategies have been played on a well-turfed centre 425mm of rain recorded over that linked with the Trust’s Corporate square and outfield. period. On Saturday 7 July, the Plan objectives to efficiently SFS hosted the Live Earth concert manage costs and achieve Renovations got under way at the with over 44,306 spectators in desired service levels. conclusion of the 2007 Sydney attendance. The playing field was Swans season, and included returned to premium condition in The following SAMP projects returfing four of the nine pitch readiness for the next event on contributed to the 2007/08 wicket squares, minor outfield turf Saturday 14 July, with only minor Capital Works Program: replacements and a program to discolouration at the far northern • New SCG fire service water eradicate the winter grass. end of the field. The SFS playing supply for hydrants/hose reels surface was in excellent shape for and fire sprinklers The 2007/08 cricket season the start of the 2007/08 A-League • Toilet upgrade program saw 25 matches scheduled over season in August, and going into including the installation of new 48 days. They consisted of six the NRL Final Series. accessible toilets in the pool Pura Cup matches, with the final facility of the Stadium Fitness scheduled from Saturday 15 Annual renovations of the SFS Centre, in addition to general to Wednesday 19 March, three were carried out from Monday toilet amenities upgrades domestic one day matches, five 17 December to Saturday 22 • The annual replacement of international matches and 11 December, during which time 2 major plant and equipment non first-class matches. Pitch approximately 10,300m of including grounds machinery, number five was considered the couch grass was laid. Events IT equipment, televisions, best it has been for many years, recommenced on Sunday furniture and catering equipment surpassing the excellent test pitch 20 January with Sydney FC • Floor finishes program on which Test Match playing Melbourne Victory. • Air conditioning program was played the year before. The • Structural rectification program SCG outfield was cut short, and, • CCTV upgrade and as the field is predominantly replacement program couch grass, the playing surface • SCG sports lighting upgrade. was fast, rewarding good batting with boundaries.

22 2007/08 ANNUAL REPORT Kippax Field Occupational Health In 2007/08, the Trust worked and Safety (OH&S) co-operatively with Centennial The Trust actively seeks to Park and Moore Park Trust to promote and maintain a safe establish a new training field on environment for all staff and Moore Park adjacent to Kippax visitors. Representatives from Lake. Construction work on the each department and on-site field commenced in December contractors meet bi-monthly and was completed in January. to review issues regarding The Sydney Roosters will use this Occupational Health and Safety. field as their main training base for the NRL and National Youth The committee proactively Competition squads. participates in the development of a safe and healthy work environment. It monitors WRAPP report measures taken to ensure the In compliance with the NSW health and safety of staff and Government’s Waste Reduction visitors and reviews any safety and Purchasing Policy designed issues and/or incidents that may to minimise waste and increase arise, or that have occurred on recycling, the Trust’s WRAPP report event and non-event days. On completed in 2006 was updated for alternate months the committee 2007 with positive outcomes. conducts an inspection of a designated area on-site to The Trust implemented a complete determine and rectify any recycling system at the Live potential hazards. The Trust Earth concert in July 2007. This actively supports the OH&S resulted in close to 8.6 tonnes of committee in its review of all rubbish being recycled rather than policies, procedures and going to landfill. Following further changes in legislation, while refinement, this has resulted in keeping employees informed this system being implemented of any changes through the across the site for all events and distribution of meeting minutes tenancies in 2008. and inspection reports.

SYDNEY CRICKET & SPORTS GROUND TRUST 23 MANAGING THE ASSETS CONTINUED

Significant progress has been The HAMS establishes processes SCG Museum made on the Trust’s new and plans to integrate and This year, the focus of the SCG OH&S Management System, manage the Trust’s moveable Museum was on continuing to with policies and procedures and built heritage within its improve methods of housing and being implemented to ensure existing total asset management retrieving objects of historical ongoing compliance with plan, its budgetary processes interest and value. In addition, Government legislation. and the relevant leases. This will cataloguing, scanning and filming Planning for improvement, enable cyclical and preventive of the collection have been contractor management and maintenance to be budgeted steadily progressing. The Museum the development of the Trust and monitored annually, and and Archives Taskforce has High Voltage Management Plan is a preliminary step towards broadened its base by including remain key areas of interest. the establishment of a Heritage historians from a range of sports, Conservation Register for the thereby expanding the resources The declining number of Trust, as well as a Conservation available to the Trust. workplace injuries in the last Management Plan for the Ground. financial year reflects positively on By actively seeking donations the Trust’s OH&S Management The HAMS provides a short from Members and players, the System. This is in no small way history of the Trust and information Museum has uncovered significant due to the Committee, which about the heritage of the ground historical material relating to actively encourages effective while establishing heritage the site, which has added to consultation in its ongoing effort principles (including the Burra the scope of the collection. to maintain a safe and healthy Charter) which are intended for A highlight of the year was an working environment. use as a guide to the ongoing interview held in the Museum management of its heritage with Sachin Tendulkar, conducted assets, and for handling any Heritage Asset by Channel 9. We were able to redundant heritage assets. The Management Strategy grant Tendulkar his wish to handle Trust subsequently commissioned one of ’s bats during In July 2007, the Trust completed the preparation of a Conservation the interview. a Heritage Asset Management Management Plan (CMP) for the Strategy (HAMS) in compliance Ground, to further assess the The oral history project is with the Heritage Act 1977 (NSW). significance of the site. A detailed continuing, with 44 interviews With the objective of identifying Heritage and Conservation conducted to date. The list has and planning for the management Register, under section 170 been expanded to 60 prospective of heritage assets under its of the Heritage Act, is also in interviewees to canvas the custodianship, this policy was development. diversity of the SCG as a site of formally endorsed by the NSW historical interest and importance. Heritage Council.

24 2007/08 ANNUAL REPORT 2007 – 2008 Medical Incident Summary

07 07 07 07 07 07 07 07 07 07 08 08 Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Totals

Event Day 6 11 4 4 6 1 5 7 4 8 105 52 213 Non-event Day 3 0 3 1 2 1 0 1 3 0 0 0 14 Total Number of Incidents 9 11 7 5 8 2 5 8 7 8 105 52 227

Patient Profile

Patron 3 1 4 2 1 1 0 5 6 6 86 46 161 Staff – Trust 1 3 1 0 2 0 2 1 1 2 8 3 24 Staff – Contractor 5 5 2 2 4 1 2 2 0 0 11 3 37 Staff – Not Defined 0 2 0 1 1 0 1 0 0 0 0 0 5

07 07 07 07 07 07 07 07 07 07 08 08 Type of Injury Mar Apr May Jun Jul* Aug Sep Oct Nov Dec Jan Feb Totals

Burn 2 1 1 0 1 0 0 1 0 0 4 2 12 Laceration 1 2 1 0 1 2 0 2 0 1 18 4 32 Abrasion 1 0 0 1 0 0 0 0 0 2 9 5 18 Soft Tissue Injury 2 3 2 1 3 0 1 2 1 1 11 8 35 Fainting/Dizziness 1 1 1 1 1 0 0 1 0 1 1 3 11 Chest Pain 0 0 1 0 0 0 0 0 1 0 1 0 3 Headache 1 3 0 0 0 0 2 1 3 1 26 11 48 Other 1 1 1 2 3 0 2 1 2 2 35 19 69

* 1 patient obtained two separate injuries

Hospitalisation No 8 11 6 5 6 1 5 5 3 7 93 48 198 Yes 1 0 0 0 1 0 0 0 2 0 2 2 8 Referred to Doctor 0 0 1 0 1 1 0 3 2 1 10 2 21

Cause of Injury^

Pre-exsiting 16 4 20 Slip and Fall 6 3 9 Trip and Fall 7 2 9 Sun/Heat Exposure 8 0 8 Other 33 27 60 Unknown 35 16 51

^ Please note cause of injury data has been added from January 2008 onwards as it had not been recorded previously

SYDNEY CRICKET & SPORTS GROUND TRUST 25 MAJOR PROJECTS

Master Plan (between Driver Avenue and Anzac Parade) are generated from The Trust established its first the Sydney Cricket Ground and Master Plan in 2000, and it has Sydney Football Stadium. subsequently been reviewed and updated on several occasions. The objective in securing the The objective of the Master Plan management of the lands, is to is to guide future developments provide a full and higher level of on Trust lands to enhance the service to event stakeholders; experience for all stakeholders from the sports partners based now and in the future. The at our grounds to the patrons Plan allows for staged facilities attending matches and events. development to take place in the short and medium term, provided Transport, Traffic they are commercially viable and and Access flexible, for the long-term vision The Trust is part of an Eastern to be achieved. Suburbs Transport group In 2007, the Trust commissioned consisting of: Australian architects and urban planners Jockey Club, Centennial Park Hassell to commence a fresh and Moore Park Trust, Prince review and examination of the of Wales Hospital, University of overall Trust Master Plan, with a . 25 year focus. The Plan proposes The Parsons Brinckerhoff future works at both company were engaged to to improve public and Member review all traffic and transport facilities, as well as investigating studies previously prepared the future use of the Gold for the groups, and, using their Members Car Park and the comprehensive understanding central and entry zones of travel in Sydney, to advise between the two stadiums. the group on where it might best focus its efforts to improve Moore Park East Car transport and accessibility to the Park Management region – both in the short and long-term. The Trust has been interested in securing the management of Their key recommendations Moore Park Event Parking for supported the long-term initiative some time. of a grade separated Metro Line (rail) to the south-eastern region, Moore Park East is controlled including the SFS and SCG. by Centennial Park and Moore Park Trust, who then license the The Trust continues to promote operation of the car parks to a the outcomes of the Moore third party. Most of the events Park Events Taskforce to utilising the parking and transport stakeholders and government for facilities on Moore Park East implementation and funding.

26 2007/08 ANNUAL REPORT COMMERCIAL & oper ations

Security and Access Risk Management Event Attendances

The ever-growing challenge of The Trust‘s ongoing commitment 1 March 2007 – 29 February 2008 security and access for the to ensuring the health and SYDNEY CRICKET GROUND & Trust was highlighted in 2007 safety of patrons and employees SYDNEY FOOTBALL STADIUM with the opening of the NSW included a review of the risk International Rugby Centre of Excellence management program, with the Test Match Cricket 119,289 and the coming on-site of the following measures implemented: Sydney Roosters. • The appointment of all One Day permanent and temporary staff International Cricket 69,748 This increased demand meant to emergency management NSW SpeedBlitz Blues – that the Trust was required to positions in the overall site Ford Ranger Cup 3,166 exercise diligence to ensure the evacuation process NSW SpeedBlitz Blues – safety and security of all event day for routine business (i.e. non- Pura Cup 14,630 patrons, as well as on-site tenants event) days and Members. To accommodate • Site evacuation exercises for Sydney Swans 201,776* this demand and reflect the Trust’s all Trust employees and site NSW Waratahs 179,749 commitment to security, a full time tenants as part of the site’s Rotomahana Challenge 7,949 security manager was appointed overall emergency management Rugby Inbound in May 2007. plan update Tour Match 5,912 • Modification of the Trust’s Club Rugby Grand Final 5,710 emergency management plan and operational response NRL Final Series 32,611 procedures to reflect the Asian Cup changing configuration of Qualifying Games 35,796 our venues Sydney Roosters 117,138 • Retention of Proclaim Foundation Cup 15,193 Management Services to manage the Trust’s public Sydney FC 180,107 liability incidents and claims, A-League Final Series 59,804 thus continuing the high level Live Earth 44,306 of service while reducing the Rockin’ for Rights Rally 13,326 Trust’s exposure to litigation. SCG & SFS Totals 1,106,210 The Trust continues to improve its risk management through Stadium Fitness its contractual and operational Centre Total 198,873 partnerships. A proposal for an enterprise wide risk management * SCG capacity reduced 2007/08 platform is currently under review, with a view to implementation in 2008/09.

SYDNEY CRICKET & SPORTS GROUND TRUST 27 COMMERCIAL & oper ations CONTINUED

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

05 Feb 06 Feb 07 Feb 08 Feb FTE Employees FTE Employees FTE Employees FTE Employees

Executive Staff 5.00 5 6.00 6 7.00 7 7.00 7 Administration 5.00 6 5.00 5 4.65 5 5.22 6 Commercial & Operations 17.60 18 17.42 18 17.28 18 20.01 22 Business Development 8.40 9 8.60 9 9.00 9 8.00 8 Corporate Services 9.27 11 9.04 10 10.98 13 11.74 15 Properties 28.53 30 28.53 30 28.60 30 33.49 33 Marketing & Membership 24.60 54 29.16 29 31.52 66 26.21 63 Sydney Cricket Club 0.00 0 0.00 0 0.00 0 1.00 1 Total 98.40 133 103.75 137 109.03 148 112.67 157

The breakdown of employees as at Friday 29 February 2008 was:

Full time Part time Casual FTE Total Employees 97 12 48 112.67 157

2007 2008 Executive Remuneration Male Female Male Female

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

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

Official Overseas Travel by Trust Staff Monday 15 – Tuesday 23 October Jamie Barkley and Paris

Venue Inspections Stadium Revenue Summit O2 Arena Wembley National Stadium Emirates Stadium Twickenham Rugby Stadium Madejski Stadium

28 2007/08 ANNUAL REPORT Representation of Equal Employment Opportunity (EEO) target groups Sydney Cricket & Sports Ground 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 2005 2006 2007 2008

Women 50.0% 37.0% 40.0% 44.0% 44.0% Aboriginal people and 2.0% 0% 0% 0% 0% People whose first language was not English 19.0% 9.0% 8.0% 9.0% 9.0% People with a disability 12.0% N/A N/A N/A N/A 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 2005 2006 2007 2008

Women 100 61 71 80 79 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 29 February 2008. * 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.

SYDNEY CRICKET & SPORTS GROUND TRUST 29 service providers

All Leisure Hospitality Merchandising Traffic, Transport In 2007, All Leisure Hospitality Playbill, now in its second year and Access performed well once again, of a five-year contract with the Transport, parking and access delivering improved catering to Trust to provide merchandising continues to be a major focus for patrons, Members and corporate services, performed well in 2007, the Trust and its sporting partners. hospitality. This was achieved with the refit of the new look in the face of challenges ‘Stadium Store’ proving to be An integrated ticketing system associated with the Hill extremely popular. for the Live Earth concert saw Grandstand redevelopment. patrons receive free public transport. The ‘double header’ Cleaning on Sunday 24 February involved Ticketing ISS Tempo continued their extensive planning and resulted Ticketing services to our association with the Trust via in high public transport usage. Sports Partners and patrons the provision of cleaning and The Trust hopes to announce continued to be a core business waste management services. initiatives in the coming 12 months of the Trust in 2007. Over one Considering the challenging nature that will enhance public transport million tickets were sold to of this operation, with 80 major and improve access to the SCG events at the Sydney Cricket event days and just over one and SFS. Ground and the Sydney Football million patrons attending the SFS Stadium. The professionalism and SCG, it is a service that ISS of contributed to this performs very well. impressive figure. With their professional team on-site, ISS has been working with the Trust to develop environmental waste management policies and procedures. Noteworthy, is the pilot program for a full recycling program at the Live Earth concert in July.

30 2007/08 ANNUAL REPORT MArketing and Membership

New Membership Cards distinctly, according to their The Membership Events group core profiles, behaviours and has also used new, targeted By the end of the 2007/08 motivations. This facilitates a HTML Member event emails to financial year there was a total of greater appreciation of Member issue electronic invitations to a 19,178 Members which is broken types and enhances the Trust’s specific list of Members down into three categories; SCG, understanding of the way each • Trust website – a Members login Gold and Platinum. There were group views the Trust brand, system, located on the Trust 11,131 SCG Members, 7,225 products and associated benefits. website, implemented to enable Gold Members and 822 Members to access Member Platinum Members. Membership Election specific information not viewable This year, all 2007/08 financial in the public domain Members were provided with new An election of all 1997 waitlist • Radio scripts – 2UE and 2KY membership cards, which are Members was conducted, as radio segments promoting valid until September 2011. The well as a re-election of all waitlist SFS and SCG sporting events cards feature a new design and Members from 1986 to 1998. This with relevant Member and for the first time, Members were is the first time a re-election has public information. able to use new SCG and Gold been held and offers made to either take-up membership, defer Club cards on Days Two to Five Members Events of the 2008 Test Match, resulting membership (for a period of up to in increased Member satisfaction three years) or be removed from Members Events continue and attendance. the waitlist. The re-election has to provide satisfaction to all enabled Membership Services membership groups, while to ‘clean-up’ the database and membership continues to Member focus on active and potential expand through match day Segmentation Study new Members. and non-match day events. In 2007, the Trust engaged New SCG elected Members a consultant to analyse the Communication were invited to attend an current membership database informative induction prior to of some 18,500 Members, The Trust now employs the Australia v New Zealand and to prepare a segmentation regular strategies to effectively One Day International in 2007. framework. This framework communicate accurate and SCG Members were introduced has been used to analyse the up-to-date match information to to Membership Services profiles of existing Members and all membership segments. who provided important those on the waitlist; to inform The Trust uses targeted information pertaining to the decisions regarding acquisition, communication media such as: SCG membership. up-sell, retention and customer • Trust News – Sydney Morning Herald advertising service activities; to add value to In January 2008, the SFS on the first Saturday of membership as appropriate to celebrated its 20th Anniversary, each month each membership type, and to marking the important occasion • Around the Grounds – a plan for communications targeting with a function for its bi-annual Members magazine and membership positioning. Foundation Members. • Member email event alerts – An outcome of the segmentation sent to Members on a regular research has been the basis and used to notify development of seven primary Members of sporting and groups which can be handled other Member events.

SYDNEY CRICKET & SPORTS GROUND TRUST 31 Marketing and Membership CONTINUED

Surveys Venue Services Members Events regularly conduct The Venue Services Office online surveys following sporting continues to offer the highest and non-sporting events to assess level of customer service to all the satisfaction of Members and Members through monitoring the quality of service. Stadium Fitness Centre access, and squash court bookings, Reciprocal Rights crèche bookings, merchandise sales and general enquiries. The Trust has recently secured reciprocal rights with the Australian Jockey Club. Members Stadium Fitness Centre may attend racing events held The Stadium Fitness Centre has at both Royal Randwick and continued to develop both its Warwick Farm racecourses. services and facilities. In addition Members also have the to increasing the number of opportunity to attend interstate classes within the group exercise and overseas venues where timetable, the pool plant room reciprocal rights arrangements has been equipped with new have been established. pool pumps and pipe work. This upgrade will ensure that the The Trust currently has a reciprocal pool continues to maintain the rights arrangement with: highest level of water quality for • , Members and guests. Melbourne •  Oval, Adelaide All four tennis courts have been • Western Australian Cricket resurfaced to ensure slip resistance Association, and maximum comfort for all Gold • , Members enjoying the facility. • , • The Brit Oval, London SCG Tour Experience • Lord’s Cricket Ground, London • M.Chinnaswamy Stadium, The SCG Tour Experience growth Bangalore in popularity has seen an increase • Kelvin Grove Club, Cape Town in tour sessions. The SCG Tour • Queens Park Cricket Club, Experience now conducts one Trinidad and a half hour sessions at • Australian Jockey Club, 10.00am, 12.00pm and 2.00pm Randwick Monday to Friday and 10.00am on Saturday. The SCG Tour Experience is suitable for school groups, sporting clubs, tourists and international travel groups, seniors outings as well as local visitors. Tour merchandise has also been increased and is readily available from the Stadium Store.

32 2007/08 ANNUAL REPORT Business Development

Sponsorship, We are currently developing a Sydney Football Exclusive Supply and small range of premium products Stadium offering further official rights and Advertising Rights Hospitality sales in 2007 continued exclusivities, which we hope to to perform well due to the strong The Trust’s advertising and introduce to the market place interest in the Super 14 NSW sponsorship program continues to during 2008. generate significant income from Waratahs, Sydney FC and Sydney the corporate sector. Once again, Roosters matches at the Sydney the Trust achieved strong revenue Hospitality Football Stadium. The Trust was results thanks to the diligence and Business Development has able to achieve a result just below support of our partners, Moore completed a three-month the challenging forecast, due to Sports Advertising and Sports project with Ernst & Young, convenient scheduling and the Marketing and Management. aimed at increasing the level high quality of packages offered. of revenue growth, client The sale of annual facilities at the The Trust has continued its relationship management and SFS remained strong throughout strong partnerships with Foster’s cost efficiencies. This has been 2007. Premium teams and a Australia, Coca-Cola Amatil, achieved by adopting a new diverse range of quality events Fairfax, the TAB, the Motor strategic approach as well as over the course of a single year Accidents Authority, , through necessary technology and represented very good value UD Trucks, Grays Online and infrastructure support. With the to our corporate clients. Other Campbell’s, whilst welcoming successful implementation of this premium inclusions to the annual our new partner, Samsung. new program, it is anticipated that packages further enhanced their appeal and translated into growth As part of the introduction of the Trust will become leaders in this field. in both annual corporate boxes a new tier of sponsorship, and annual private suite sales. Coca-Cola Amatil became the first corporate partner to Sydney Cricket Ground Casual sales at the SFS were be elevated to Icon status. focused primarily on the NSW The strength of the Sydney Cricket Icon status is an initiative that Waratahs season. Casual Ground event schedule, the will provide the Trust and its enquiries for the Sydney Roosters success of our Sports Partners icon partners with unique and Sydney FC were directed in and the pending completion leveraging opportunities. the first instance to the relevant of the Hill Grandstand with its Sports Partners. Both partners benchmarked corporate facilities, The quality and quantity of appreciated the support they present an exciting opportunity for corporate clients who have received through this approach. invested in hospitality packages the 2008/09 financial year. reflects positively on the Trust’s competitive price structure and on its investment returns. In keeping with our goal of establishing long- term partnerships, the Trust is conscious of continuing to offer the market valuable opportunities, brand growth, revenue returns and promotional development.

SYDNEY CRICKET & SPORTS GROUND TRUST 33 Business Development CONTINUED

Gold and Platinum Community Membership Sales Where possible, the Trust Gold membership sales were continued to support worthy driven by the continuation of the charities and not-for-profit successful Member-get-Member organisations. Following an and Member Upgrade programs. expression of interest process, The Trust focused on offering the Trust made an official Members the opportunity to commitment to support six upgrade their existing membership registered charities through to status, or, to introduce friends June 2008. The six organisations and colleagues to the benefits selected for preferred charity of a Gold and/or Corporate status were: St Vincent de membership. Building relationships Paul Society, Juvenile Diabetes with strategic commercial Research Foundation (JDRF), partners in order to provide Kidney Health Australia, Canteen, quality incentives and rewards Lupus Foundations of NSW and for new, referring and upgrading Sir Roden Cutler Charities Inc. Gold and Corporate membership, was critical to the success of these campaigns. Not only did it help achieve our goal of stable Membership numbers, it also surpassed commercial targets.

The introduction of Platinum membership captured the attention and interest of Members, with upgrades far exceeding expectations.

34 2007/08 ANNUAL REPORT corpor ate services financial report

The Trust is a NSW Government year, compared to the budget, The Trust’s successful financial Trading Enterprise constituted and to the previous year, performance during 2007/08 was under the provisions of the including: event hire fees, achieved through the following Sydney Cricket & Sports premium seating/daily box hire, areas of operation: Ground Act, 1978. The Trust catering sales/costs, ticket is a not-for-profit entity (profit is commissions, event wages and Income from not its principle objective). The event operation costs Ground Hiring reporting entity is consolidated • General Operations – Higher as part of the NSW Total State Platinum and Gold membership The Trust holds long-term Sector Accounts. sales, lower annual box contractual arrangements with rental, lower naming rights major sporting bodies to provide a The Trust’s operations for the revenue, lower advertising strong and broad-based program financial year ended 29 February and sponsorship income, of sporting events at the SCG and 2008, resulted in a profit of increased contributions from SFS. The Trust currently has major $31.588 million (including a hirers (including NSW Rugby hiring contracts with Cricket NSW, government grant of $25 million), contribution to Centre of NSW Rugby, Sydney Swans, compared to $5.5 million in the Excellence construction), , Sydney previous year. The budget for increased borrowing costs Roosters and Sydney FC. the year ended 29 February 2008 (arising from draw down of new During 2007/08 the Sydney initially projected a profit of loans), lower ratings guarantee Cricket Ground and the Sydney $4.8 million. fees, lower insurance expenses, Football Stadium hosted an lower Members ticket costs The profit was transferred to extensive program of events, and increased depreciation retained earnings, which stood attracting over 1.0 million patrons. at $151.8 million as at charges following revaluation 29 February 2008. of assets as at the year ended Fees generated by event and 28 February 2007. venue hire amounted to $7.3 million, compared to $9.2 million The results for the year show a Operating Income in the previous year, which can be decrease in operating revenue for and Expenditure attributed to the additional major, 2007/08, ($61.2 million, compared The profit achieved in 2007/08 popular events staged, including to the previous year $65.1 million) exceeded the budgeted estimate the highly successful Ashes and a corresponding decrease with the Trust continuing to Cricket Season, concerts and in operating expenditure ($54.7 improve its financial position whilst boxing events. million for 2007/08 compared to undertaking an extensive capital the previous year, $59.6 million). works program and maintaining Whilst a strong program of events a low level of capital debt. was staged in 2007/08, it is noted The result for the year reflects: that the previous year’s results • Event Operations – The incorporated incremental revenues impact of the Hill Grandstand and expenses from the staging of construction together with the highly attended events (and relatively moderate home team additional major events), including performances in 2007/08 the 2006/07 Ashes Cricket resulted in lower than forecast Season, the Robbie Williams attendances. This led to concerts and the Mundine v decreases in event revenues Green boxing event. and costs recorded for the

SYDNEY CRICKET & SPORTS GROUND TRUST 35 Corpor ate services financial report CONTINUED

Members Annual During the past year revenue from Catering rental of annual private suites/ Subscriptions The Compass Group (trading as corporate boxes was $4.3 million, Membership subscriptions were All Leisure) holds the exclusive compared to $4.6 million received higher in 2007/08, with revenue rights contract for food and liquor in the previous year. Marketing of $11.1 million compared to catering at the SCG and the SFS, of available suites/boxes on a $10.8 million recorded in the having commenced operations daily/seasonal basis and sale previous year. Whilst membership at the venues in November 2000. of allocated premium public subscription rates were increased, The catering contract extends seating for major events, together, the retention levels for continued until 2010. generated revenue of $5.4 million membership reflect the broad compared to $8.6 million received range of services and events The Trust’s net share of catering in the previous year which catered available to all Members. sales (including amortised contract for the highly successful Ashes premiums) at the SCG and the Cricket Season, concerts and SFS was $3.5 million (food) and Membership Sales boxing events. $3.0 million (liquor), with both Membership sales generated in reflecting the decreased annual 2007/08 were strong and reflect Advertising & event attendance, compared market confidence in the Trust’s Sponsorship Sales to $4.1 million and $3.8 million ongoing fixture program and respectively in the previous year. Major signage/product rights amenities. Sales of new Platinum contracts are current with and Gold membership generated key stakeholders at the SCG Investment $5.8 million, compared to and the Sydney Football Management $4.0 million in the previous year. Stadium, including Coca-Cola Performance The traditional SCG Membership Beverages, Cricket NSW, During 2007/08, available surplus continues to be highly regarded Diageo Fosters, Moore Sports, funds were invested with the NSW with an intake of new Members NSW Rugby, Samuel Smith & Treasury Corporation Hour-Glass drawn each year from the long Son, Sydney Swans, Ticketek facility. The Treasury Hour-Glass waiting list. Joining fees for and Tyrrell’s Wine. return on the Trust’s invested new SCG Members generated funds for the year ended 29 The Trust contracts the sale of $640,000 compared to $552,000 February 2008, represents the advertising/naming rights signage in 2006/07. rate of 6.29% for that period. in the form of scrolling signage, fence, grandstand and video Surplus funds were invested Corporate Hospitality scoreboard signage, including for the short-term only. Interest product rights at each facility. The Trust has contractual received on investments totalled $442,000 as compared to arrangements with Cricket NSW Advertising and sponsorship $488,000 in the previous year. and NSW Rugby for the exclusive revenue generated $4.3 million marketing rights for the sale of compared to $5.8 million in the corporate/premium packages for previous year, following the closure International Cricket and Rugby of the SFS naming rights contract Super 14 fixtures. with Aussie Home Loans in June 2007. Exclusive Product rights generated $1.8 million in revenue in 2007/08, compared to $1.9 million in the current year.

36 2007/08 ANNUAL REPORT Interest Paid on TCorp’s debt management • Commencement of Loans/Rating Based involved tactical positioning of the construction of the new Guarantee Fees portfolio to reduce interest costs. Sheridan Building Office This resulted in the portfolio’s complex (project budget – The Trust extended its borrowings cost of funds being approximately $10 million) by $8.3 million (to $16 million) 0.03% below its benchmark, • Erection of the new SCG in the past year to support an which represented an annual Churchill Stand video board extensive Capital Works Program. saving of $4,186 against the • Relocation of the Hill video As a consequence, interest paid Trust’s benchmark for the year. board to the on capital debt during the year Stand and commencement was $1 million compared to of the final stage of the SCG $528,000 in the previous year. Ground Operation and Maintenance refurbishment. Other financing charges, namely In October 2007, the Trust Ratings Guarantee Fees, totalled The Trust employs a permanent received a grant of $25 million $276,000, based on the previous trades workforce, service from the NSW Government for year’s lower debt level ($459,000 contractors and subcontractors the Hill Grandstand project, in 2006/07) and following to undertake the annual program which was utilised for payment application of the relevant of maintenance of grandstands, of construction claims. The Trust financial rating. buildings, plant, grounds and playing arenas at the SCG and also received a contribution of the SFS. $500,000 from the AFL to the Debt Management project, paid as part of new Performance During the past year, expenditure contractual arrangements. In of $6.6 million on maintenance of March 2008 (after the close of the The Trust’s debt portfolio is grounds, buildings and plant was financial year), the Trust received managed by NSW Treasury incurred, compared to $6.8 million a first instalment ($15 million) of Corporation (TCorp). Over the in the previous year. the approved Commonwealth financial year, cash rates moved Government grant of $25 million for higher by 0.75%, to 7.00%. Rates the SCG Hill Grandstand project. for term borrowing increased Capital Works Program gradually over the year, but During 2007/08 the Trust the unprecedented turmoil in conducted its largest Capital Event Operating Costs international financial markets Works Program for many years, In staging all sporting and other caused long-term interest rates with project costs totalling $53 events at the SCG and SFS to remain well below cash million. The major projects during 2007/08, the Trust incurred rates. The market value of the undertaken in 2007/08 included: direct event costs of $9.2 million Trust’s portfolio, (including new • Demolition and commencement compared to $10.2 million in borrowings), rose by $7.814 million of construction of the SCG Hill the previous year. The higher to reach $15.589 million as at Grandstand (project budget – cost recorded in the previous 29 February 2008. $76.5 million) year included the Ashes Cricket • Completion of the NSW Rugby Season, the Robbie Williams Centre of Excellence building concerts and the v fight. (project cost: $7.3 million – NSW Rugby contribution $2.75 million)

SYDNEY CRICKET & SPORTS GROUND TRUST 37 corpor ate services FINANCIAL REPORT continued

Staff Related Expenses The Chief Executive Officer’s • The Sheridan Building to major achievements during the accommodate the Trust Staff related expenses incurred year included: Administration, Sydney FC, AFL during the past year totalled • A profit of $6.588 million (NSW/ACT), Sports Medicine $12.4 million compared to (before Government grants Centre and FanFirm $12.3 million in 2006/07. These of $25 million), exceeding the • Refurbishment of the Stadium costs include permanent salaries, Fitness Centre and Azure Café. wages and on-costs (for both a budget of $4.822 million by full-time and part-time workforce) 36 per cent incurred in administration, together • Appropriate planning approvals Administration and with event day casual staff wages and commencement of Related Expenses and on-costs. construction of the SCG Hill Stand Administrative and related • Successful sporting events expenses incurred during the Performance including international and past year totalled $4.9 million Statement domestic cricket, Super compared to $5.8 million in the Jamie Barkley 14 Rugby (Waratahs), NRL previous year. The significant Chief Executive Officer (Sydney Roosters and finals), decrease for the current year Annual Salary: $399,707 A-League football (Sydney FC) is reflected in the reduced cost and AFL (Sydney Swans) incurred for Members seating; The Chairman reported that the • Attracting additional events last year was the final year where Chief Executive Officer performed including Live Earth Concert, purchases of tickets were made to a high level during 2007-08. inaugural Rugby League from Trust funds for eligible Gold The objectives of the CEO are Foundation Cup, Tri Nations Members to major football events to manage the core business of Rugby League fixture and final at ANZ Stadium at Homebush. the Trust, including management and the A-League Grand Final Administrative expenditure and development of the Sydney • Successfully introducing also includes: Cricket Ground and the Sydney Platinum Membership and • Consulting fees ($1.2 million Football Stadium; understand maintaining high retention of compared to $654,000 in the and meet the needs of Members; Gold and SCG Members previous year), build and maintain relationships • Negotiating new long term venue • Telephone ($235,000 with sports partners; capitalise hire and tenancy agreements on opportunities to secure new with Sydney Roosters, Sydney compared to $262,000) business and products to ensure FC, AFL (NSW/ACT) and the • Publications, printing & ongoing revenue sources to Sydney Swans. stationery ($1.05 million maintain the financial viability compared to $801,000) of the Trust; lead the Trust’s The Chief Executive Officer • Insurance costs ($439,000 management team, including managed a major capital compared to $587,000) the selection of key personnel, works program ($53 million) • Finance costs including providing advice, managing which included: ratings fees, debt management performance and development • The Hill Grandstand fees ($276,000 compared and coaching to ensure a • NSW Rugby Centre of Excellence to $459,000). cohesive and capable team to • New videoboard in the Clive support the Trust’s objectives. Churchill Stand at the SCG

38 2007/08 ANNUAL REPORT Marketing Expenses The firm of Brokers, OAMPS Summary of Land Consulting reviews the Trust’s Marketing expenditure was Vested in the Trust insurance coverage annually. directed towards promotion and The Trust was constituted marketing of the cricket and under The Sydney Cricket and football seasons and other major Consultants Sports Ground Act, 1978. It is events; available Platinum, Gold Consultants were appointed to a charged with the care, control and SCG membership places, sale range of projects in 2007/08, with and management of the lands of private suites/corporate boxes, payments totalling $1.2 million. described in Schedule 2 of the premium seating for major events, The major consultancies were Act, those lands dedicated for guided tours and corporate provided by: public recreation. function room facilities. • Javelin Australia, Public Expenditure on marketing during Relations/Media fee – $177,000 Major Assets – 2007/08, including advertising, • Ernst & Young, Development Property, Plant & promotion and publications, was Rights Assessment review – Equipment $128,000 $2.1 million compared to $1.8 The Trust’s major assets other • Sports Marketing & million in the previous year. than land holdings consist of Management, Stadia buildings and improvements at Sponsorship Consultancy – the Sydney Cricket Ground and Premium/Corporate $110,000 the Sydney Football Stadium and Seating Expenses • Hassell Architects, Master Plan its surrounds. In marketing and servicing the development – $105,000 sale of premium seating packages • MI & Associates, Master Plan During 2006/07, the Trust received to corporate customers for major review – $69,000 an independent valuation by the events (including direct charges • Ernst & Young, Corporate Sales State Valuation Office of its vested for tickets, catering, merchandising Plan – $66,000 lands, based on an “as zoned and and other costs), expenses of • Coledale Consulting, Cleaning used basis,” providing a valuation $4.5 million were incurred during & Waste review – $54,000 of $34 million as at 28 February 2007/08. This is compared to • Fitch Australia, Credit Rating 2007. The valuation increment $7.2 million in expenses incurred review – $50,000 recorded since the previous in the previous year (the previous • HLA Envirosciences, OH&S valuation of land, $3 million, year having included significant review – $36,000 was transferred to the Asset corporate sales and costs for the • Peter Knowland, Accoustic Revaluation Reserve. Ashes cricket season and other Consulting – $31,000. one-off events). During 2006/07 the Trust received Minor consultancy services an independent valuation by WT were provided in the following Partnership, registered quantity Insurance areas: IT services, accounting surveyors, of the replacement cost services, probity review, event The Trust’s major insurance of buildings and improvements at services software, engineering risks are covered through its the Sydney Cricket Ground and services, planning advice, tender membership of the Treasury the Sydney Football Stadium. review, crisis management plan, Managed Fund. Insurance The valuation at replacement sound, risk management, OH&S, premiums paid in 2007/08 were cost was converted to written employment matters, building and $439,000, a significant reduction down replacement cost by other services. when compared to $587,000 in determining the remaining useful the previous year. life of each building.

SYDNEY CRICKET & SPORTS GROUND TRUST 39 corpor ate services FINANCIAL REPORT continued

The valuation increase of $240.7 million recorded since Depreciation the previous valuation of buildings and improvements Depreciation charged for 2007/08 amounted to $7.9 was transferred to the Asset Revaluation Reserve as at million compared to $7.2 million in the previous year. 28 February 2007. As a result of the revaluations, an Depreciation, reflecting the revaluation of buildings and Asset Revaluation Reserve remains established. The improvements, is calculated on the value of buildings balance of this Reserve as at 29 February 2008 stood and plant using the straight-line method based on the at $319 million. expected useful life of the assets. The value of land, buildings and improvements, plant and equipment recorded in the Trust financial statements as at 29 February 2008 stands at $510 million.

The Trust’s current Industrial Special Risks insurance policy as at 29 February 2008 provides a cover on buildings, plant and equipment to the value of $742 million.

Time for Payment of Accounts Listed below is a schedule of accounts payable performance as at 29 February 2008, 30 November 2007, 31 August 2007, and 31 May 2007.

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

May 226,128 337,804 20,632 -729 13,191 597,025 % 37.88% 56.58% 3.46% -0.12% 2.21% 100.00%

August 3,334,532 440,859 118,152 0 22,610 3,916,154 % 85.15% 11.26% 3.02% 0.00% 0.58% 100.00%

November 1,535,983 347,346 18,379 0 19,007 1,920,716 % 79.97% 18.08% 0.96% 0.00% 0.99% 100.00%

February 1,014,356 82,048 0 0 5,816 1,102,220 % 92.03% 7.44% 0.00% 0.00% 0.53% 100.00%

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

40 2007/08 ANNUAL REPORT Performance Reviews The Trust’s four main Committees Sydney Cricket Club (Grounds and Event Services, Ratings Agency, Fitch conducted In 2007 the Trust joined with Finance, Management and Audit) an annual review of the Trust’s the administration of the former are responsible for continuous financial operations and position UTS-Balmain District Cricket internal performance reviews of as at Friday 29 February. The Club in establishing the new Trust activities. Monthly management subsequent report by Fitch entity of the Sydney Cricket Club. reports are submitted to these recommended assignment of a The Sydney Cricket Club is an Committees for assessment of financial rating of BB+ (compared Incorporated Association under operational performance. to BB assigned in the previous the Associations Incorporation year). The rating is utilised by The Trust also submits financial Act 1984. The Trust and the Club NSW Treasury in determining the reports to the Treasury agreed to enter an association, amount of annual ratings-based Commercial Sector Division which would involve the provision guarantee fees payable. for review of operating by the Trust of administrative and performance and financial other services to the Club. The In determining the Trust’s position as compared with the Trust is represented on the Club’s financial rating, Fitch continued agreed Statement of Business Board of Directors in accordance to recognise that the Trust’s Intent performance targets that with the Club Constitution. Any credit strengths included: are established annually. expenses that were incurred by • Ownership of an iconic sporting the Trust during the past year arena – the Sydney Cricket (payroll, operational expenditure Ground, the traditional home of Credit Card Use and management time) were cricket in Sydney The use of credit cards recouped from the Sydney • Year-round use of both SCG issued to Trust executive Cricket Club through the Club’s and the SFS facilities with staff is in accordance with operational account. five key sports associations Premier’s Memoranda and contracted for several years Treasurer’s Directions. at a time (cricket, Australian Rules, rugby league, rugby union and soccer) • A history of modest but consistent profitability • A strong balance sheet, with low gearing and good interest coverage.

SYDNEY CRICKET & SPORTS GROUND TRUST 41 information technology

Policy and Services New Projects A software upgrade to Windows XP and Microsoft Office 2003 was The Trust’s IT Department 2007/08 has seen a number of carried out for all computer users, provides a diverse range of initiatives undertaken, including and a complete audit of existing services delivered in a way the implementation of a new PABX was carried out to ascertain that ensures the best possible Membership card printing system the scope of works for new PABX outcomes with regard to the and a new Security Access Card to be installed in the next financial day-to-day management of the system in which the production year. The audit highlighted several Sydney Football Stadium and the and printing of access cards shortcomings in the current Sydney Cricket Ground. was handled by the Security infrastructure, as well as the need department. This department is for an upgrade program. Some of the core services also responsible for ascertaining and duties of our business the type of access granted. Argent, a tool that monitors units include: abnormal server behaviour, • Customer Contact Operations – This year also saw the relocation was implemented along with a Help Desk of the communication component new network switching solution. • Desktop Support services from the previous Trust office into This essential upgrade has not • Voice Communications the temporary demountables. only increased security and • Data Communications The move necessitated preparing productivity, but also provided • LAN Administration cabling for both voice and infrastructure for the new PABX • Enterprise & corporate data communication and solution, which will become systems implementation reconnecting hardware. operational in the coming year. and management A BlackBerry Enterprise Server • Network infrastructure Phase two of the plan to replace was purchased, giving senior implementation and the Trust’s catering Point of Sale employees the ability to access management system was competed in August emails on their mobile phones. • Maintaining, implementing 2007. This phase delivered 48 This has proven invaluable and developing applications Windows-based touch screen during busy periods and events, • Network and infrastructure computer terminals to the SCG and there are plans to issue security, policy, procedure, Members Area. and monitoring BlackBerrys to members of staff • Setting and managing policy considered most likely to benefit for protection of the Trust’s from this service. physical and electronic This year the Sydney Cricket Club information assets website was integrated into the • Records Management Trust website and we are working • IT related project management with the Sydney Cricket Club to • Departmental consultation. regularly post current news updates and results on the new site.

42 2007/08 ANNUAL REPORT ORGANISATIONAL CHART

Trust

Grounds & Event Management Hill Grandstand Audit Committee Finance Committee Services Committee Committee Committee

­Jamie Barkley Chief Executive Officer

Bernie Lamerton Craig Meagher Jason Hill Rob McQuade Michael Bangel Shane Fuller General Manager General Manager General Manager General Manager General Manager General Manager Corporate Marketing & Business Commercial & Properties Major Projects Services Membership Development Operations

Event Playing Fields Finance Marketing Hospitality Master Plan Management and Gardens

Liquor Sponsorship Venue Venue & Asset Project Member Events Licensing and Advertising Operations Management Management

Records Member Gold Member Human OH&S Management Administration Sales Resources

Information Stadium Fitness Media & PR Capital Works Technology Centre

Venue Services Security Office

Catering & Cleaning

SYDNEY CRICKET & SPORTS GROUND TRUST 43 trustees

Mr Rodney M Cavalier, AO Mr Ken W Catchpole, OAM Trust Chairman Committees: Grounds and Event Services, Chairman, Hill Grandstand Management Committees: Finance, Grounds and Bachelor of Science (Hons) Event Services, Hill Grandstand, Management Consultant Bachelor of Arts Member: Wallaby Hall of Fame Former NSW Member of Parliament 1978 – 1988 Member: International Rugby Hall of Fame Former NSW Minister for Education 1984 – 1988 Former President: NSW Rugby Union Former NSW Minister for Energy & Former Australian Rugby Captain Minister for Finance 1984 Patron: Australian Barbarians and Classic Wallabies Chairman of the Committee for the Members-elected Trust representative Sesquicentenary of Responsible Government Appointed Trustee to 13 July 2010 Chairman: C E W Bean Foundation Appointed Trustee to 13 July 2009 Ms Kerry Chikarovski Committees: Finance, Hill Grandstand Mr E (John) Cloney Bachelor of Economics (Syd), LL.B. (Syd) Deputy Chairman Director: Infrastructure Planning Aust Pty Ltd Chairman, Finance Committee Former Minister for Consumer Affairs, Committees: Audit, Finance, Grounds and Industrial Relations, and Women Event Services, Hill Grandstand, Management Former Leader of NSW Parliamentary Liberal Party Chairman: QBE Insurance Group Ltd Board Member: Fitness Australia Member: ABN AMRO Advisory Council Board Member: Humpty Dumpty Foundation Company Director: Boral Ltd Appointed Trustee to 13 July 2011 Company Director: Maple-Brown Abbott Limited Fellow: Australia & New Zealand Institute of Hon Michael A Cleary, AO Insurance & Finance Chairman, Grounds and Event Fellow: Australian Institute of Management Services Committee Foundation Fellow: Australian Institute of Committee: Grounds and Event Services Company Directors Chairman: Clearmarketing Pty Ltd Appointed Trustee to 13 July 2011 Director: NSW Rugby League Trustee: Trust Former Member of Parliament (Coogee) 1974 – 1991 Former Minister for Sport, Recreation, Racing & Tourism 1981 – 1988 Former Australian representative in Athletics, Rugby Union and Rugby League Appointed Trustee to 13 July 2011

44 2007/08 ANNUAL REPORT Mr Phillip H Green Advance Australia Award – Services to the Community 1993 Committee: Finance Awarded the Inaugural Sir Roden Cutler Medal for Bachelor of Commerce (UNSW) Services to the Community – 2003 Bachelor of Law (UNSW) Deputy Chairman: Australian Sports Commission Chartered Accountant Deputy Chairman: NSW Institute of Sport Director: Babcock & Brown Appointed Trustee to 13 July 2009 Director: Babcock & Brown Infrastructure Director: Babcock & Brown Japan Property Trust Mr Geoffrey F Lawson, OAM Director: Everest Babcock & Brown Limited Director: Babcock & Brown Capital Limited Committee: Grounds and Event Services Appointed Trustee to 13 July 2009 Bachelor of Optometry Vice President: UNSW Sports Association Ms Catherine Harris, AO PSM Member: University of NSW Council Former International cricketer Committee: Grounds and Event Services Former Director: Advertising Standards Board Bachelor of Commerce (UNSW) FAICD Members-elected Trust representative Chairperson: Harris Farm Markets Pty Ltd National Cricket Coach - Director: Australia – Japan Foundation Term completed 9 October 2007 Board Member: National Gallery of Australia Foundation Board Member: Museum of Contemporary Art Mr Colin W Love, AM LLB Board Member: UNSW Foundation Board Member: Notre Dame University Committee: Grounds and Event Services Appointed Trustee to 13 July 2011 Legal Practitioner and Sports Promoter Chairman: Limited Mr Alan B Jones, AO Chairman: New South Wales Rugby League Limited Chairman: NRL Partnership Executive Committee Committee: Grounds and Event Services Chairman: Rugby League International Federation Ltd Graduate of Queensland and Oxford Universities Term completed 13 July 2007 Former speechwriter and senior advisor to the Prime Minister, Right Hon Malcolm Fraser Mr John A McCarthy, QC Queen’s Birthday Honour – an Officer within the Order of Australia for services to the media Committee: Finance and sports administration Barrister (admitted 1976) Former Australian Rugby Union Coach Queen’s Counsel (appointed 1988) Former Coach of the Balmain and South Sydney Pro Chancellor: University of Sydney Rugby League Clubs Fellow of the Senate of the University of Sydney Elected to the Confederation of Australian Sports Member: Senate Honorary Awards Committee Hall of Fame – 1985 Senate Sports Liaison Committee (Convenor) Broadcaster: Radio Station 2GB 873 and formerly Senate Finance Committee with the Channel 9 Today Show presenting editorial Member: NSW Legal Aid Review Committee comment daily for 20 years Chairman: John Stephen Akhwari Athletics Foundation Awarded Australian Radio Talk Personality of the Year: (“JSAAF”) 2001 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 Commentator: 1991, 1992, 1993, 1995, 1996, 1997, 1998, 2000, 2001, 2002, 2003, 2004 and 2005

SYDNEY CRICKET & SPORTS GROUND TRUST 45 trustees continued

Mr Roderick H McGeoch, AM LLB Mr Paul H Warren Chairman, Audit Committee, Hill Grandstand Committee: Finance Committees: Audit, Finance Bachelor of Business (Marketing & Accounting) Lawyer Chairman: Sydney Metro-Ford Dealers Advertising Chairman: Saatchi and Saatchi Trans Tasman Fund Ltd Advisory Board Chief Executive: Peter Warren Group of Companies Director: Ramsay Health Care Ltd Director: Ford Dealers Advertising Fund Ltd Member: Aon Risk Services Limited NSW Director: Peter Warren Group of Companies Board of Advice Member: Board of Management, St Vincents Prostate Director: Telecom Corporation of Cancer Centre New Zealand Limited “TCNZ” Appointed Trustee to 13 July 2009 Director: Maxwood Pty Ltd Director: McGeoch Holdings Pty Ltd Mr Michael Eyers, AM Chairman: Sky City Entertainment Group Limited Committee: Grounds and Event Services Chairman: Vantage Private Equity Growth Limited Solicitor Appointed Trustee to 13 July 2011 Master of Economic Science, Master of Business Administration, Bachelor of Arts (Honours), Ms Kaye Schofield Bachelor of Laws Chairperson, Management Committee and Consultant: Atanaskovic Hartnell Museum & Archives Task Force Adviser: Office of the Coordinator General, Committees: Finance, Management Department of the Premier and Cabinet Bachelor of Arts, Master of Education Professorial Visiting Fellow: Faculty of the Executive Director: Kaye Schofield & Built Environment, University of NSW Associates Pty Ltd, Management Consultants Board Member: Black Dog Institute Director: WaterEd Australia Pty Ltd Appointed Trustee to 13 July 2011 Member: NSW TAFE Commission Board Appointed Trustee to 13 July 2009 Mr A F (Tony) Shepherd Committees: Grounds and Event Services, Hill Grandstand Bachelor of Commerce Chairman: ConnectEast Group Chairman: Transfield Services Limited Director: The Global Foundation Director: Transfield Services Infrastructure Fund Director: The Australian Chamber Orchestra Appointed Trustee to 13 July 2009

46 2007/08 ANNUAL REPORT FINANCIAL INDICATORS

Operating Surplus $ million Return on Equity %

Earnings Before Interest $ million Interest Cover (Times)

Membership Renewals Debt Levels $ million

Budget Actual

SYDNEY CRICKET & SPORTS GROUND TRUST 47 48 2007/08 ANNUAL REPORT SYDNEY CRICKET & SPORTS GROUND TRUST 49 SYDNEY CRICKET & SPORTS GROUND TRUST INCOME STATEMENT FOR THE YEAR ENDED 29 FEBRUARY 2008

Consolidated Parent Notes 2008 2007 2008 2007 $’000 $’000 $’000 $’000

REVENUE Event and Venue Hire Fees 7,310 9,247 7,310 9,247 Catering 2a 12,322 15,453 12,322 15,453 Premium Seating 2b 5,407 8,592 5,407 8,592 Membership Fees 2c 17,585 15,337 17,585 15,337 Private/Corporate Box Rental 2d 4,322 4,637 4,322 4,637 Advertising & Sponsorship 2e 4,290 5,837 4,290 5,837 Interest 442 488 442 488 Superannuation Fund Valuation Surplus 9 – 254 – 4 Other Revenue 2g 9,605 5,261 9,605 5,261 Sub-total 61,283 65,106 61,283 64,856

Government Grant – SCG Hill Grandstand 2f 25,000 – 25,000 –

Total Revenue 86,283 65,106 86,283 64,856

EXPENDITURE Event Operating Costs 3a 9,206 10,275 9,206 10,275 Liquor Expenses 3b 5,797 7,587 5,797 7,587 Premium/Corporate Seating 3c 4,479 7,217 4,479 7,217 Staff Related Expenses 3d 12,363 12,296 12,470 12,046 Administration and Related Expenses 3e 4,914 5,825 4,914 5,825 Ground Operation & Maintenance 6,599 6,771 6,599 6,771 Membership Redemptions 1 16 1 16 Depreciation 1e, 6 7,979 7,258 7,979 7,258 Borrowing Costs 1,015 528 1,015 528 Marketing Expenses 2,140 1,797 2,140 1,797 Superannuation Fund Allocation 9 107 – – – Loss on Disposal of Assets 3f 95 37 95 37 Total Expenditure 54,695 59,607 54,695 59,357

PROFIT FOR THE YEAR 31,588 5,499 31,588 5,499

The accompanying notes form part of these financial statements.

50 2007/08 ANNUAL REPORT SYDNEY CRICKET & SPORTS GROUND TRUST BALANCE SHEET AS AT 29 FEBRUARY 2008

Consolidated Parent Notes 2008 2007 2008 2007 $’000 $’000 $’000 $’000

ASSETS Current Assets Cash and Cash Equivalents 4 2,021 1,692 2,021 1,692 Trade & other Receivables 5 6,865 13,291 6,865 13,291 Inventories 1h 727 750 727 750 Total Current Assets 9,613 15,733 9,613 15,733

Non-Current Assets Property, Plant & Equipment 1e, 6 509,825 465,226 509,825 465,226 Receivables 5 284 36 284 36 Superannuation Asset 9 454 561 454 561 Total Non-Current Assets 510,563 465,823 510,563 465,823 Total Assets 520,176 481,556 520,176 481,556

LIABILITIES Current Liabilities Trade and other Payables 7 26,670 28,935 26,670 28,935 Borrowings 1k, 8 1,793 1,440 1,793 1,440 Provisions 1h, 9 1,794 1,681 1,794 1,681 Total Current Liabilities 30,257 32,056 30,257 32,056

Non-Current Liabilities Payables 7 4,810 3,727 4,810 3,727 Borrowings 1k, 8 14,242 6,494 14,242 6,494 Total Non-Current Liabilities 19,052 10,221 19,052 10,221 Total Liabilities 49,309 42,277 49,309 42,277

NET ASSETS 470,867 439,279 470,867 439,279

EQUITY Retained Earnings 15 151,808 120,220 151,808 120,220 Reserves 15 319,059 319,059 319,059 319,059

TOTAL EQUITY 470,867 439,279 470,867 439,279

The accompanying notes form part of these financial statements.

SYDNEY CRICKET & SPORTS GROUND TRUST 51 SYDNEY CRICKET & SPORTS GROUND TRUST CASH FLOW statement FOR THE YEAR ENDED 29 February 2008

Consolidated Parent Notes 2008 2007 2008 2007 $’000 $’000 $’000 $’000

Cash Flows from Operating Activities Receipts from Operations 98,369 70,895 98,369 70,895 Interest Received 442 488 442 488 Other Receipts 1,563 363 1,563 363 Payments to Suppliers and Employees (56,529) (53,559) (56,529) (53,559) Interest Paid (900) (437) (900) (437) Other Payments (232) (1,523) (232) (1,523)

Net Cash from Operating Activities 17b 42,713 16,227 42,713 16,227

Cash Flows from Investing Activities Payment for Property, Plant and Equipment (51,037) (19,499) (51,037) (19,499) Proceeds from Sale of Plant and Equipment 316 245 316 245

Net Cash used in Investing Activities (50,721) (19,254) (50,721) (19,254)

Cash Flows from Financing Activities Proceeds from Borrowings 8,337 1,000 8,337 1,000

Net Cash from Financing Activities 8,337 1,000 8,337 1,000

Net Increase/(Decrease) in Cash and Cash Equivalents 329 (2,027) 329 (2,027) Cash and cash equivalents at the Beginning of Period 17a 1,692 3,719 1,692 3,719

Cash and Cash Equivalents at end of period 17a 2,021 1,692 2,021 1,692

The accompanying notes form part of these financial statements.

52 2007/08 ANNUAL REPORT SYDNEY CRICKET & SPORTS GROUND TRUST STATEMENT OF RECOGNISED INCOME & EXPENSE FOR THE YEAR ENDED 29 February 2008

Consolidated Parent Notes 2008 2007 2008 2007 $’000 $’000 $’000 $’000

Net increase in Asset Revaluation Reserve 15 – 243,712 – 243,712

Income and Expense Recognised Directly In Equity – 243,712 – 243,712

Profit for the Year 31,588 5,499 31,588 5,499

Total Income and Expense recognised directly in Equity 15 31,588 249,211 31,588 249,211

The accompanying notes form part of these financial statements.

SYDNEY CRICKET & SPORTS GROUND TRUST 53 SYDNEY CRICKET & SPORTS GROUND TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2008

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

(a) Reporting Entity The Sydney Cricket & Sports Ground Trust, as a reporting entity, is a NSW Government 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 Regulation • 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).

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.

54 2007/08 ANNUAL REPORT SYDNEY CRICKET & SPORTS GROUND TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2008

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

(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 receipt of cash.

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

Revaluation of these assets is undertaken at intervals not exceeding five (5) years.

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 10% – 33.3%

SYDNEY CRICKET & SPORTS GROUND TRUST 55 SYDNEY CRICKET & SPORTS GROUND TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2008

(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 29 February 2008.

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.

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 29 February 2008 has been calculated and advised by Pillar Administration.

56 2007/08 ANNUAL REPORT SYDNEY CRICKET & SPORTS GROUND TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2008

(i) Insurance The Trust’s insurance activities are conducted through the NSW Treasury Managed Fund Scheme of self- insurance for Government agencies. The expense (premium) is determined by the Fund Manager, based on past experience.

(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 with the facility whereby maturing loans may be rolled over and replaced with new loans whilst maintaining the original capital value of the portfolio. Borrowings and Advances are shown as current and non-current liabilities and include the provision for rollover upon maturity.

(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 agreed to enter an association, which would involve 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.

SYDNEY CRICKET & SPORTS GROUND TRUST 57 SYDNEY CRICKET & SPORTS GROUND TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2008

(n) Tax Status The activities of the Sydney Cricket & Sports Ground 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.

2. REVENUE

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

Liquor Trading – $8,782,225 ($11,364,567 in 2007).

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 – $3,539,951 ($4,088,006 in 2007).

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.

58 2007/08 ANNUAL REPORT SYDNEY CRICKET & SPORTS GROUND TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2008

Consolidated Parent 2008 2007 2008 2007 $’000 $’000 $’000 $’000

(b) Premium Seating Premium Seating 5,407 8,592 5,407 8,592

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 11,120 10,769 11,120 10,769 SCG Member Entrance Fees 640 552 640 552 Platinum/Gold Member Entrance Fees 5,825 4,016 5,825 4,016 17,585 15,337 17,585 15,337

(d) Private/Corporate Box Rental Private/Corporate Box Rental 4,322 4,637 4,322 4,637

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 4,290 5,837 4,290 5,837

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 NSW Government Grant 25,000 – 25,000 –

Construction of the SCG Hill Grandstand commenced in February 2007 and is scheduled to be completed in late 2008. In financing the cost of construction of the new Hill Grandstand the Trust received a grant of $25 million from the NSW Government towards the project.

SYDNEY CRICKET & SPORTS GROUND TRUST 59 SYDNEY CRICKET & SPORTS GROUND TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2008

Consolidated Parent 2008 2007 2008 2007 $’000 $’000 $’000 $’000

(g) Other Merchandising 389 407 389 407 Parking Fees 152 174 152 174 Tour Fees and Sponsorship 101 133 101 133 Rentals 1,252 987 1,252 987 Contributions from Hirers 5,174 822 5,174 822 Exclusive Product Rights 1,792 1,961 1,792 1,961 Sundry 745 777 745 777 9,605 5,261 9,605 5,261

3. EXPENDITURE

(a) Event Operating Costs Event Operating Costs 9,206 10,275 9,206 10,275

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

(b) Liquor Expenses Liquor Cost of Goods Sold 2,999 3,967 2,999 3,967 Liquor Management Fee 2,798 3,620 2,798 3,620 5,797 7,587 5,797 7,587

(c) Premium Seating Premium Seating 4,479 7,217 4,479 7,217

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

60 2007/08 ANNUAL REPORT SYDNEY CRICKET & SPORTS GROUND TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2008

Consolidated Parent 2008 2007 2008 2007 $’000 $’000 $’000 $’000

(d) Staff Related Expenses Salaries and Wages 9,367 9,261 972 1,525 Trustees Remuneration 105 116 105 116 Provision for Leave/Gratuity 815 588 – 39 Superannuation 724 805 – 37 Workers Compensation 195 124 – 14 Payroll Tax 590 633 – 27 Other Staff Related Expenses 567 769 416 610 Personnel Services – – 10,977 9,678 12,363 12,296 12,470 12,046 Personnel Services Salaries and Wages – – 8,395 7,736 Provision for Leave/Gratuity – – 815 549 Superannuation Expense – – 724 518 Workers Compensation – – 195 110 Payroll Tax – – 590 606 Superannuation Fund Allocation – – 107 – Other Staff Related Expenses – – 151 159 – – 10,977 9,678

(e) Administration and Related Expenses Audit Fees (Audit Office of NSW) 80 73 80 73 Accounting and Legal Services 359 181 359 181 Consultant Fees 1,222 654 1,222 654 Travel 130 84 130 84 Postage/Freight 169 227 169 227 Telephone 235 262 235 262 Printing and Stationery 1,056 801 1,056 801 Provision for Doubtful Debts 74 155 74 155 Bad Debts Written off 1 1 1 1 Insurance 439 587 439 587 Members Seating 276 1,781 276 1,781 Sundry 597 560 597 560 Finance 276 459 276 459 4,914 5,825 4,914 5,825

The Audit Office of NSW’s fee for auditing the annual financial report for the year ended 29 February 2008 is $77,000 ($72,000 in 2007).

SYDNEY CRICKET & SPORTS GROUND TRUST 61 SYDNEY CRICKET & SPORTS GROUND TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2008

Consolidated Parent 2008 2007 2008 2007 $’000 $’000 $’000 $’000

(f) Disposal of Property, Plant & Equipment Proceeds from Disposal (316) (245) (316) (245) Written down value of assets disposed 411 282 411 282 Loss on disposal of Property, Plant & Equipment 95 37 95 37

4. CASH AND CASH EQUIVALENTS

Cash 853 348 853 348 NSW Treasury Corporation Hour-glass 1,168 1,344 1,168 1,344 2,021 1,692 2,021 1,692

5. TRADE AND OTHER RECEIVABLES

As at 29 February 2008, the amount shown as Trade and other Receivables comprised the following items:

Current: Prepayments and Accrued Income 1,375 2,182 1,375 2,182 Catering Debtors 1,367 1,169 1,367 1,169 Sundry Debtors 2,405 9,227 2,405 9,227 GST Receivable 1,443 548 1,443 548 Provision for Doubtful Debts (86) (170) (86) (170) Futures Contracts 361 335 361 335 6,865 13,291 6,865 13,291

Non-Current: Sundry Debtors 284 36 284 36 284 36 284 36

‘Superannuation Prepayment’ was previously listed in ‘RECEIVABLES: Non-Current’. Now listing in Note 9 ‘PROVISIONS: (b) Superannuation Asset’.

62 2007/08 ANNUAL REPORT SYDNEY CRICKET & SPORTS GROUND TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2008

Consolidated Parent 2008 2007 2008 2007 $’000 $’000 $’000 $’000

6. PROPERTY, PLANT AND EQUIPMENT Land at Valuation 34,000 34,000 34,000 34,000

Buildings and Improvements (at fair value) 581,026 568,660 581,026 568,660 Accumulated Depreciation (157,623) (150,624) (157,623) (150,624) 423,403 418,036 423,403 418,036

Plant and Equipment (at fair value) 15,257 14,397 15,257 14,397 Accumulated Depreciation (10,695) (10,194) (10,695) (10,194) 4,562 4,203 4,562 4,203

Work in progress 47,860 8,987 47,860 8,987 Total Carrying Amount 509,825 465,226 509,825 465,226

The Trust’s current Industrial Special Risks insurance policy as at 29 February 2008 provides a cover on buildings, plant & equipment to the value of $742 million.

SYDNEY CRICKET & SPORTS GROUND TRUST 63 SYDNEY CRICKET & SPORTS GROUND TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2008

6. PROPERTY, PLANT AND EQUIPMENT continued

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

2008 Carrying amount as at 1 March 2007 34,000 418,036 4,203 8,987 465,226 Net Revaluation Increment – – – – – 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

2007 Carrying amount as at 1 March 2006 31,000 170,458 4,085 1,064 206,607 Net Revaluation Increment 3,000 240,712 – – 243,712 Additions – – 1,380 21,104 22,484 Reclassification – 13,181 – (13,181) – Disposals – – (319) – (319) Depreciation Expense – (6,315) (943) – (7,258) Carrying amount as at 28 February 2007 34,000 418,036 4,203 8,987 465,226

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 $34 million as at 28 February 2007. The valuation increment recorded since the previous valuation of land, $3 million, 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 a determination of the remaining useful life of each building. The valuation increment recorded since the previous valuation of buildings and improvements $240.7 million, 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 29 February 2008 stood at $319 million.

64 2007/08 ANNUAL REPORT SYDNEY CRICKET & SPORTS GROUND TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2008

Consolidated Parent 2008 2007 2008 2007 $’000 $’000 $’000 $’000

7. PAYABLES Current: Sundry Creditors & Accruals 11,626 12,760 11,626 12,760 Subscriptions Paid in Advance 6,301 6,116 6,301 6,116 Rents Paid in Advance 3,546 3,417 3,546 3,417 Advertising – Fees in Advance 903 1,243 903 1,243 Catering – Licence Fees in Advance 1,050 1,050 1,050 1,050 Other Deferred Income 2,962 4,182 2,962 4,182 Interest Payable 282 167 282 167 26,670 28,935 26,670 28,935

Non-Current: Catering – Licence Fees in Advance 1,750 2,800 1,750 2,800 Rents – Paid in Advance 281 604 281 604 Advertising Fees in Advance 104 183 104 183 Other Creditors 2,675 140 2,675 140 4,810 3,727 4,810 3,727

SYDNEY CRICKET & SPORTS GROUND TRUST 65 SYDNEY CRICKET & SPORTS GROUND TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2008

Consolidated Parent 2008 2007 2008 2007 $’000 $’000 $’000 $’000

8. BORROWINGS

Current: NSW Treasury Corporation Loans 1,793 1,440 1,793 1,440 1,793 1,440 1,793 1,440

Non-Current: NSW Treasury Corporation Loans 14,242 6,494 14,242 6,494 14,242 6,494 14,242 6,494

Total 16,035 7,934 16,035 7,934

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 1,793 1,440 1,793 1,440 b. > 1 < 5 years 9,392 3,009 9,392 3,009 c. > 5 years 4,850 3,485 4,850 3,485 16,035 7,934 16,035 7,934

Derivative Financial Instruments Net Exposure The market value of the Trusts’ transactions in derivative financial instruments outstanding at 29 February 2008 is as follows:

Derivative Financial Instruments Receivable Futures Contracts 361 335 361 335

Total Carrying amount as Aggregate Net per Balance Sheet Fair Values Consolidated Parent 2008 2007 2008 2007 $’000 $’000 $’000 $’000

Net Fair Values Financial Liabilities NSW Treasury Corporation Loans 16,035 7,934 15,668 7,943

66 2007/08 ANNUAL REPORT SYDNEY CRICKET & SPORTS GROUND TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2008

Consolidated Parent 2008 2007 2008 2007 $’000 $’000 $’000 $’000

9. PROVISIONS

(a) Employee Entitlements Current: Provision for Annual Leave and on-costs Balance at beginning of year 1,030 780 – – Provision for the year 701 668 – – Less: Leave Taken (624) (418) – – Balance owing to the Division – – 1,107 1,030 Balance at end of year 1,107 1,030 1,107 1,030

Provision for Long Service Leave and on-costs Balance at beginning of year 651 600 – – Provisions for the year 76 71 – – Less: Leave Taken (40) (20) – – Balance owing to the Division – – 687 651 Balance at end of year 687 651 687 651

Total Employee Entitlements 1,794 1,681 1,794 1,681

(b) Superannuation Asset Non-Current Superannuation Asset 454 561 454 561

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 29 February 2008.

SYDNEY CRICKET & SPORTS GROUND TRUST 67 SYDNEY CRICKET & SPORTS GROUND TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2008

9. PROVISIONS continued

SASS SANCS 2008 2007 2008 2007 $ $ $ $

(i) Reconciliation of the assets and liabilities recognised in the Balance Sheet: Present Value of Defined Benefit Obligations (1,781,342) (1,678,739) (211,109) (196,526) Fair Value of Plan Assets 2,234,295 2,222,870 212,455 213,955 Net asset/(liability) at 29 February 2008 to be disclosed in the Balance Sheet 452,953 544,131 1,346 17,429

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: Net asset/(liability) at start of year 544,131 306,455 17,429 1,010 Net income/(expense) recognised in the income statement (91,178) 237,676 (16,083) 16,419 Net asset/(liability) at 29 February 2008 to be disclosed in the Balance Sheet 452,953 544,131 1,346 17,429

(iii) Actual Return on Fund Assets: Actual return on Fund Assets (13,685) 291,191 (1,496) 27,601

(iv) Economic assumptions 29 February 2008 28 February 2007 % %

Salary increase rate (excluding 4.0 pa to June 2008; promotional increases) 3.5% pa thereafter 4.0 pa Rate of CPI increase 2.5 2.5 Expected rate of return on assets 7.6 7.6 Discount rate 6.3 5.8

68 2007/08 ANNUAL REPORT SYDNEY CRICKET & SPORTS GROUND TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2008

Consolidated Parent 2008 2007 2008 2007 $’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 205 74 205 74

Provision for Employee Benefits: Current (note 9) 1,794 1,681 1,794 1,681 Non-Current – – – – 1,794 1,681 1,794 1,681

Total employee benefits liability 1,999 1,755 1,999 1,755

11. CAPITAL AND OTHER EXPENDITURE COMMITMENTS

Capital Commitments Total capital expenditure contracted as at 29 February 2008 but not provided for in the accounts:

Not later than 1 year 56,344 57,253 56,344 57,253 Later than 1 year but not later than 5 years – 40,150 – 40,150 Total 56,344 97,403 56,344 97,403

Other Expenditure Commitments Total other expenditure contracted as at 29 February 2008 but not provided for in the accounts: Not later than 1 year 265 233 265 233 Later than 1 year but not later than 5 years – – – – Total 265 233 265 233

The total expenditure commitments above include input tax credits of $5.054 million 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 157 – 157 – Later than 1 year but not later than 5 years 461 – 461 – Minimum lease payments 618 – 618 – Less: future finance charges 97 – 97 – Present value of minimum lease payments 521 – 521 –

SYDNEY CRICKET & SPORTS GROUND TRUST 69 SYDNEY CRICKET & SPORTS GROUND TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2008

11. CAPITAL AND OTHER EXPENDITURE COMMITMENTS continued

Consolidated Parent 2008 2007 2008 2007 $’000 $’000 $’000 $’000

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

Classified as: Current 113 – 113 – Non-Current 408 – 408 – 521 – 521 –

Other commitments not quantified include specific obligations under term contracts with major sporting hirers 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 2008 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 of 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 $104,725 ($115,607 in 2007) were paid in accordance with rates determined by the Premier’s Department to the Trustees during the year ended 29 February 2008.

The Trustees have access to the Trust Suite during event days at the Sydney Cricket Ground and the 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 the 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.

70 2007/08 ANNUAL REPORT SYDNEY CRICKET & SPORTS GROUND TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2008

In February 2007 the Trust received planning approval for the SCG Hill Grandstand 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 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 had provided a bank guarantee for $50,000 as a security for any necessary rectification of damage to the adjacent road reserve arising during the construction.

The NSW Rugby Centre of Excellence opened in 2007. As a condition of construction of sewer and storm water pipes servicing the building, the Trust established a bank guarantee for $20,000 in favour of Sydney Water.

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. RECONCILIATION OF CHANGES IN INCOME AND EXPENSE

Retained Earnings Asset Total Equity Revaluation Reserve 2008 2007 2008 2007 2008 2007 $’000 $’000 $’000 $’000 $’000 $’000

Balance at the beginning of the financial year 120,220 114,721 319,059 75,347 439,279 190,068 Profit/(Loss) for the year 31,588 5,499 – – 31,588 5,499 Increment on revaluation of Property, Plant & Equipment – – – 243,712 – 243,712 Balance at the end of the financial year 151,808 120,220 319,059 319,059 470,867 439,279

SYDNEY CRICKET & SPORTS GROUND TRUST 71 SYDNEY CRICKET & SPORTS GROUND TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2008

16. ADDITIONAL FINANCIAL INSTRUMENTS DISCLOSURES

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 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.

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

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 2008 2007 2008 2007 $’000 $’000 $’000 $’000

Financial Assets Cash and Cash Equivalents 2,021 1,692 2,021 1,692 Futures Contracts 361 335 361 335 2,382 2,027 2,382 2,027

Financial Liabilities Bank Overdraft – – – – Borrowings (16,035) (7,934) (16,035) (7,934) (16,035) (7,934) (16,035) (7,934) Net exposure (13,653) (5,907) (13,653) (5,907)

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

At 29 February 2008 approximately 89% of the Trust’s borrowings were at a fixed rate of interest (2007: 82%).

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 with 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.

72 2007/08 ANNUAL REPORT SYDNEY CRICKET & SPORTS GROUND TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2008

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 29 February 2008, 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:

Post Tax Profit Equity Higher/(Lower) Higher/(Lower) 2008 2007 2008 2007 $’000 $’000 $’000 $’000

Increase in Consolidated basis points AUD +100 (1%) (500) (250) (500) (250)

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 2008 than in 2007 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 2007/08.

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

Price Risk The Trust’s exposure to price 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 73 SYDNEY CRICKET & SPORTS GROUND TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2008

16. ADDITIONAL FINANCIAL INSTRUMENTS DISCLOSURES continued

Change in Impact on Profit/Loss Unit Price 2008 2007

Hour-Glass Cash Facility +/– 1% 11,676 13,437

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.

Liquidity risk 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 29 February 2008. Cash flows for financial assets and liabilities without fixed amount or timing are based on the conditions existing at 29 February 2008.

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

Consolidated Parent 2008 2007 2008 2007 $’000 $’000 $’000 $’000

12 months or less 13,701 14,367 13,701 14,367 1-5 years 9,392 3,009 9,392 3,009 Over 5 years 4,850 3,485 4,850 3,485 27,943 20,861 27,943 20,861

74 2007/08 ANNUAL REPORT SYDNEY CRICKET & SPORTS GROUND TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2008

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

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 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 29 February 2008 is as follows: 28 February 2009 2010-13 $’000 $’000

Opening balance for the period 2,021 2,377 Operating Inflows 79,058 251,215 Operating Outflows (49,616) (223,839) Cash Outflows for Investments (64,586) (29,000) Proceeds from sale of Investments – – Financing Proceeds 35,500 2,000 Closing balance for the period 2,377 2,753

Credit Facility – $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.

SYDNEY CRICKET & SPORTS GROUND TRUST 75 SYDNEY CRICKET & SPORTS GROUND TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2008

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 29 February 2008 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 2008 2007 2008 2007 $’000 $’000 $’000 $’000

Cash 853 348 853 348 NSW Treasury Corporation Hour-glass 1,168 1,344 1,168 1,344 2,021 1,692 2,021 1,692

(b) Reconciliation from the profit to the net cash flows from operations Profit/(Loss) 31,588 5,499 31,588 5,499 Depreciation 7,979 7,258 7,979 7,258 Increase (Decrease) in Debt Transactions (236) (14) (236) (14) Loss (Gain) on Sale of Non–Current Assets 95 37 95 37 Increase (Decrease) in Creditors (3,133) 9,751 (3,133) 9,751 Decrease (Increase) in Inventories 22 (297) 22 (297) Decrease (Increase) in Prepayments 69 (909) 69 (909) Decrease (Increase) in Receivables 6,216 (5,399) 6,216 (5,399) Increase (Decrease) in Provisions 113 301 113 301

Net Cash Provided by Operating Activities 42,713 16,227 42,713 16,227

Firmly committed long-term financing facilities of $100 million were available to the Trust at 29 February 2008. As at that date, $16.035 million ($7.934 million in 2007) of these facilities was in use.

18. NEW AUSTRALIAN ACCOUNTING STANDARDS ISSUED BUT NOT EFFECTIVE

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

(ii) The following new Accounting Standards have not been applied and are not yet effective: • AASB 8 Operating Segments (1 January 2009); • AASB 101 Presentation of Financial Statements (1 January 2009); • AASB 123 Borrowing Costs (1 January 2009); • AASB 1004 Contributions (1 July 2008); • AASB 1049 Whole of Government and General Government Sector Financial Reporting (1 July 2008); • AASB 1050 Administered items (1 July 2008); • AASB 1052 Disaggregated Disclosures (1 July 2008); • AASB Interpretation 12 Service Concession Arrangements (1 January 2009); • AASB 13 Customer Loyalty Programmes (1 July 2008); • AASB Interpretation 1038 Contributions by Owners Made to Wholly-Owned Public Sector Entities (1 July 2008). • AASB Interpretation Changes in Existing Decommissioning, Restoration and Similar Liabilities (1 January 2009).

The impact of these standards in the period of initial application is uncertain.

END OF FINANCIAL STATEMENTS

76 2007/08 ANNUAL REPORT SYDNEY CRICKET & SPORTS GROUND TRUST 77 78 2007/08 ANNUAL REPORT SYDNEY CRICKET & SPORTS GROUND TRUST DIVISION INCOME STATEMENT FOR THE YEAR ENDED 29 February 2008

2008 2007 Notes $’000 $’000

REVENUE Personnel Services 10,977 9,678

Total Revenue 10,977 9,678

EXPENDITURE Salaries, Wages & on-costs 2 10,146 9,160 Superannuation 831 518

Total Expenditure 10,977 9,678

PROFIT FOR THE YEAR – –

The accompanying notes form part of these financial statements.

SYDNEY CRICKET & SPORTS GROUND TRUST 79 SYDNEY CRICKET & SPORTS GROUND TRUST division BALANCE SHEET AS AT 29 February 2008

Notes 2008 2007 $’000 $’000

ASSETS Current Assets Receivables 3 1,520 1,408 Total Current Assets 1,520 1,408

Non-Current Assets Superannuation Asset 3 454 561 Total Non-Current Assets 454 561 Total Assets 1,974 1,969

LIABILITIES Current Liabilities Payables 4 180 288 Employee Provisions 5 1,794 1,681 Total Current Liabilities 1,974 1,969 Total Liabilities 1,974 1,969

NET ASSETS – –

EQUITY Retained Earnings – –

TOTAL EQUITY – –

The accompanying notes form part of these financial statements.

80 2007/08 ANNUAL REPORT SYDNEY CRICKET & SPORTS GROUND TRUST division CASH FLOW STATEMENT FOR THE YEAR ENDED 29 February 2008

Notes 2008 2007 $’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.

SYDNEY CRICKET & SPORTS GROUND TRUST 81 SYDNEY CRICKET & SPORTS GROUND TRUST division STATEMENT OF RECOGNISED INCOME & EXPENSE FOR THE YEAR ENDED 29 FEBRUARY 2008

Notes 2008 2007 $’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.

82 2007/08 ANNUAL REPORT SYDNEY CRICKET & SPORTS GROUND TRUST division NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2008

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, the Public Finance and Audit Act 1983, the Public Finance and Audit Regulation 2005, and specific directions issued by the Treasurer.

The special purpose financial report has been prepared in accordance with the requirements of the recognition and measurement aspects of all Australian Accounting Standards, and Interpretations adopted by the Australian Accounting Standards Board, and other authoritative pronouncements of the Accounting Standards Board that have a material effect. International Financial Reporting Standards form the basis of Australian Accounting Standards adopted by the AASB, and for the purposes of this report are called AIFRS to distinguish from Australian GAAP.

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

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

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

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

(c) Comparative Information The comparative information for the Trust Division’s financial report is for the period 17 March 2006 to 28 February 2007.

SYDNEY CRICKET & SPORTS GROUND TRUST 83 SYDNEY CRICKET & SPORTS GROUND TRUST division NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2008

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

(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 29 February 2008.

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.

84 2007/08 ANNUAL REPORT SYDNEY CRICKET & SPORTS GROUND TRUST division NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2008

(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’s 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 the 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 pre-payment as at 29 February 2008 has been calculated and advised by Pillar Administration.

2. EMPLOYEE EXPENDITURE 2008 2007 Notes $’000 $’000

Salaries & Wages 8,395 7,736 Annual Leave/Long Service Leave 815 549 Payroll Tax 590 606 Workers Compensation Insurance 195 110 Other 151 159 10,146 9,160

SYDNEY CRICKET & SPORTS GROUND TRUST 85 SYDNEY CRICKET & SPORTS GROUND TRUST division NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2008

3. RECEIVABLES

2008 2007 Notes $’000 $’000

Current Parent Entity – Sydney Cricket & Sports Ground Trust 1,520 1,408 1,520 1,408 Non-Current Superannuation Asset 454 561 454 561 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 29 February 2008.

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

SASS SANCS 2008 2007 2008 2007 $ $ $ $

Present Value of Defined Benefit Obligations (1,781,342) (1,678,739) (211,109) (196,526) Fair Value of Plan Assets 2,234,295 2,222,870 212,455 213,955 Net asset/(liability) at 29 February 2008 to be disclosed in the Balance Sheet 452,953 544,131 1,346 17,429

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.

86 2007/08 ANNUAL REPORT SYDNEY CRICKET & SPORTS GROUND TRUST division NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2008

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

SASS SANCS 2008 2007 2008 2007 $ $ $ $

Net asset/(liability) at start of year 544,131 309,719 17,429 1,500 Net income/(expense) recognised in the income statement (91,178) 234,412 (16,083) 15,929 Net asset/(liability) at 29 February 2008 to be disclosed in the Balance Sheet 452,953 544,131 1,346 17,429

(iii) Actual Return on Fund Assets:

Actual return on Fund Assets (13,685) 291,191 (1,496) 27,601

(iv) Economic assumptions

29 February 2008 28 February 2007 % %

Salary increase rate 4.0 pa to June 2008; (excluding promotional increases) 3.5% pa thereafter 4.0 pa Rate of CPI increase 2.5 2.5 Expected rate of return on assets 7.6 7.6 Discount rate 6.3 5.8

SYDNEY CRICKET & SPORTS GROUND TRUST 87 SYDNEY CRICKET & SPORTS GROUND TRUST division NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2008

4. PAYABLES

Notes 2008 2007 $’000 $’000

Current Accrued salaries, wages & on-costs 180 288 180 288

5. PROVISIONS

Current Annual Leave 1,107 1,030 Long Service Leave 687 651 Total Employee Related Provision 1,794 1,681

6. EMPLOYEE BENEFITS

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

Accrued salaries and wages 205 74

Provision for employee benefits: Current 5 1,794 1,681 Non-Current – – 1,794 1,681

Total employee benefits liability 1,999 1,755

88 2007/08 ANNUAL REPORT SYDNEY CRICKET & SPORTS GROUND TRUST division NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2008

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.

SYDNEY CRICKET & SPORTS GROUND TRUST 89 SYDNEY CRICKET & SPORTS GROUND TRUST division NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2008

8. NEW AUSTRALIAN ACCOUNTING STANDARDS ISSUED BUT NOT EFFECTIVE

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

(ii) The following new Accounting Standards have not been applied and are not yet effective: • AASB 8 Operating Segments (1 January 2009); • AASB 101 Presentation of Financial Statements (1 January 2009); • AASB 123 Borrowing Costs (1 January 2009); • AASB 1004 Contributions (1 July 2008); • AASB 1049 Whole of Government and General Government Sector Financial Reporting (1 July 2008); • AASB 1050 Administered items (1 July 2008); • AASB 1052 Disaggregated Disclosures (1 July 2008); • AASB Interpretation 12 Service Concession Arrangements (1 January 2009); • AASB 13 Customer Loyalty Programmes (1 July 2008); • AASB Interpretation 1038 Contributions by Owners Made to Wholly–Owned Public Sector Entities (1 July 2008); • AASB Interpretation Changes in Existing Decommissioning, Restoration and Similar Liabilities (1 January 2009).

The impact of these standards in the period of initial application is uncertain.

END OF AUDITED FINANCIAL STATEMENTS

90 2007/08 ANNUAL REPORT Initial Budget of Income and Expenditure for the Year Ended 29 February 2008 & Outline Budget for the Year Ending 28 February 2009

Budget Actual Budget 2007/08 2007/08 2008/09 $’000 $’000 $’000

REVENUE Event and Venue Hire Fees 6,133 7,310 6,482 Catering 13,699 12,322 13,037 Premium Seating 5,779 5,407 6,443 Membership Fees 14,840 17,585 14,953 Private/Corporate Box Rental 4,075 4,322 5,067 Advertising & Sponsorship 4,976 4,290 5,297 Interest 120 – 170 Other Revenue 10,393 9,605 6,755 Sub Total 60,015 61,283 58,204 Government Grants – 25,000 25,000

Total Revenue 60,015 86,283 83,204

EXPENDITURE Event Operating Costs 9,951 9,206 7,657 Liquor Expenses 6,880 5,797 6,407 Premium/Corporate Seating 3,901 4,479 5,050 Staff Related Expenses 12,554 12,363 12,953 Administration and Related Expenses 5,486 4,915 5,712 Ground Operation & Maintenance 6,612 6,599 6,469 Depreciation 5,800 7,979 8,140 Borrowing Costs 2,342 1,015 2,829 Marketing & Media 1,617 2,140 1,549 Superannuation Fund Allocation – 107 – Loss on Disposal of Assets 50 95 50

Total Expenditure 55,193 54,695 56,816

PROFIT 4,822 31,588 26,388

SYDNEY CRICKET & SPORTS GROUND TRUST 91 Ethnic Affairs Priorities Statement

The Trust’s Ethnic Affairs Priorities Statement (EAPS) has been prepared to comply with the Ethnic Affairs policy requirements of the NSW Government. The NSW Government’s principles of multiculturalism are included in the Community Relations Commission and Principles of Multiculturalism Act 2000. The Trust is committed to the principles of multiculturalism and reviews its practices in terms of leadership, community harmony, cultural diversity, access, equity and economic opportunity.

92 2007/08 ANNUAL REPORT Strategies Current Practices The Trust’s objective is to improve the multicultural In the 12-month period of this report, the Trust has service capacity of the Trust’s venues. This is been particularly sensitive to multicultural issues. being achieved through a number of strategies: This has been demonstrated in the following ways: • Providing staff with customer service training that • New venue signage: symbols have been includes strategies for effective communication with incorporated as much as possible in the production people who are unable to speak fluent English of new signs for the SCG and SFS • A scheme to assess and utilise the foreign language • The SCG Tour experience: thousands of schools skills of staff for the benefit of patrons for whom and community groups have participated in venue English is a second language tours of the SCG and SFS • Greater use of internationally recognised symbols • The event day staff information map has been instead of words on venue directories updated to include more recognisable symbols to • A broader range of international cuisine available identify facilities and spaces within the SFS in the venues (e.g. 2007/08 – Indian & • Ongoing training sessions for all event day staff Sri Lankan) are conducted, as well as pre-event briefings to • Observation of religious festivals, including respect specifically address the cultural differences of the and support for individual requirements during patrons attending. The “Knowing Your Patrons” religious festivals section within our training programme facilitates • Community education initiatives involving the this awareness wide range of cultures in the community to raise • Customer service training is provided for all event awareness of the history and operation of the staff in preparation for the Test Cricket Match, Sydney Cricket Ground (SCG) and Sydney Football which includes special observation of cultural Stadium (SFS). practices (e.g. no alcohol consumption).

Over the next year, the Trust will continue to show consideration for multiculturalism in all aspects of its business, with the emphasis on effective training so that staff can abide by, and implement the Trust’s multicultural strategies.

SYDNEY CRICKET & SPORTS GROUND TRUST 93 Code of Conduct

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

94 2007/08 ANNUAL REPORT Trust or government, or, where Corrupt Conduct Protected Disclosures the comment may be sufficiently Staff must immediately report The Protected Disclosures Act strong as to be perceived to their Supervisor any corrupt of 1994 provides for avenues by as criticism of the Trust or of practice, theft or unethical act which staff can make protected government policies. observed in the workplace. disclosures. To be protected by Staff members are asked, Any perceived security or safety the Act, a disclosure must be therefore, to refrain from making issue that puts the staff member, made to an investigating authority, public comments that disclose the Trust or others at risk, must the Chief Executive Officer or the information not normally provided be reported. General Manager of Corporate to the general public. Comments Services in accordance with made should be confined to Confidentiality of the internal reporting system factual information and should not Personal Information established under Internal express an opinion about Trust Reporting Policy, Protected policy or practice. Staff members are entitled Disclosures Act 1994. to confidentiality and privacy with respect to their personal Use of Trust Facilities information. They have a duty Dress Standard/ and Equipment to maintain the confidentiality, Uniforms When using Trust resources, integrity and security of any such Where the Trust policy encourages staff should do so with efficiency information to which they have the wearing of a type of dress, and economy. Staff or others access in the normal course of uniform, protective clothing or should not abuse trust property their duties. identification for reasons of public and services. Only when official image or safety requirements, staff permission has been obtained, Disclosure of members are required to meet may staff use the Trust’s Information the appropriate dress standard. equipment or facilities for non- All staff, on commencing business purposes. The Trust is entitled to the employment, sign a receipt for protection and integrity of item/s of uniform and property, the information it holds. Staff which include their stated value. Political Participation members are only permitted Upon ceasing employment with Staff members need to ensure to release information when the Trust, if the employee does that their participation in political authorised to do so in the course not return item/s of uniform and matters does not bring them into of their duties. Staff members are property in accordance with the conflict with their duties with the not to release information in receipt, the Trust is entitled to Trust or the government of the a manner which is misleading deduct the value as stated on day. In the work place they should or which may be misused. To the receipt from the employee’s maintain political neutrality in protect the integrity of official wages at a depreciated rate. carrying out their duties. Trust information, any Trust information released by staff will not have attached to it any expression of opinion on official Trust policy or practice.

SYDNEY CRICKET & SPORTS GROUND TRUST 95 Code of Conduct CONTINUED

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

96 2007/08 ANNUAL REPORT Complaints handling/Privacy policy

Complaints Handling • Follow up: staff should Personal Details ascertain whether the As part of their initial training, all Home addresses, e-mail complainant is satisfied that permanent and casual staff of addresses, telephone numbers, the action taken was prompt the Trust learn procedures for fax numbers and other details and fairly determined within handling complaints over the submitted to the Trust are treated policy guidelines, or should telephone or in person. Staff are with the utmost privacy. The Trust be subject to review by a advised of the five key steps in will not make any information more senior officer. responding to complaints: available to any external party • Listen and be open-minded: Staff have been advised that without the consent of the staff are advised to demonstrate they should express regret to the person/s concerned unless: that the complaint is being complainant where the Trust has • Required by law taken seriously been unable to fulfil a commitment • We believe it necessary to • Respond with concern: staff made to the customer, where the provide the person/s with a should show empathy and customer claims the organisation service requested demonstrate their understanding has made a mistake, if the • To implement our terms of use of the complaint customer has made an evidently • To protect the rights or property • Determine an action based justifiable complaint, or where the of the Trust, any Trust user, or on authority: staff should refer customer has been the recipient of any member of the public to established policy and obviously poor service. • To lessen a serious threat to a procedures to determine an person’s health or safety. appropriate course of action; staff should seek the Privacy Policy The Trust will comply with any assistance of more senior The Trust understands that request from individuals to remove personnel should additional privacy is very important and information about them, unless the confirmation be required that all Trust user groups (staff, information is required for fulfilling • Take action promptly: staff Members, sports partners, media an existing service obligation are to seek assistance if they etc) have the right to control their to them. Our privacy officer are too busy. They should personal information. can be contacted by e-mail on take responsibility to [email protected] or by immediately address the The Trust undertakes to act telephone on (02) 9360 6601. complaint and set in motion with integrity at all times when the determined action dealing with information entrusted to this organisation.

SYDNEY CRICKET & SPORTS GROUND TRUST 97 Complaints handling/Privacy policy CONTINUED

Website Usage Cookies E-Commerce Information The Trust websites use cookies. Transactions When accessing Trust websites, Cookies are small text files Users should be aware that there our Internet service provider (ISP) that are automatically placed are inherent risks in transmitting logs the following information for on a user’s computer. Cookies information across the Internet. standard statistical analysis: themselves do not personally Information submitted when • server address of the ISP identify users, although they engaging in an online transaction • date and time of the visit do contain a unique identifier with the Trust is passed through • pages accessed which allows the website to a registered secure server. • type of browser being used customise content based on a The registered secure server • statistics package provided user’s previous selections, type of used by the Trust makes use by our ISP which collates browser or type of computer. of all available protective the data into information and processes for the security of graphs for use in understanding e-commerce information. the usage patterns of visitors to the website.

The statistics package does not identify any individual user during this process.

98 2007/08 ANNUAL REPORT 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 two requests for information under Freedom of Information provisions during the year, up to 29 February 2008.

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, Gold Members Car Park, Driver Avenue 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 $30 $30/hour after first 20 hours* About their personal affairs All other requests $30* $30/hour Internal review $40** NIL Amendment of records NIL*** NIL

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

SYDNEY CRICKET & SPORTS GROUND TRUST 99 Trust Charter and Constitution

Charter: Sydney Cricket Constitution of Trust Values & Sports Ground Act, the Trust The Trust is guided by a strong 1978 No. 72. Under Section 5(2), the Trust commitment to six core values: The Trust was constituted under shall have, and may exercise and 1. Knowing and celebrating our this Act and is charged with the perform, the functions conferred history and preserving the best care, control and management of or imposed on it by or under the traditions of sport and the scheduled lands dedicated for Act, and shall in the exercise or our grounds. public recreation. performance of its functions, 2. Following high ethical standards, be subject to the control and fairness and integrity. The Trust may allow the scheduled direction of the Minister for Sport 3. Maintaining a close and lands or any part thereof to be and Recreation. positive relationship with our used by persons, clubs, Members, Sports Partners, associations, leagues or unions at The Trust consists of 15 Members, the government and the wider such times and on such terms and 13 appointed by the Governor community. conditions as the Trust may think and two elected by Gold and 4. Innovation that delivers strong fit and proper; for cricket, football, SCG Members. Each Trustee is commercial outcomes. athletics, public amusement or any appointed for a term of up to 5. Resourceful and disciplined other purpose which the Minister four years. management in order to secure may approve. continued financial viability for the Trust. The Trust may carry out works Our Vision 6. Valuing and developing our for the improvement, development “The Trust will be the finest staff and ensuring a happy, safe and maintenance of the Trust venue, membership and event and productive workplace. lands including the redesigning management organisation of areas, the construction of any in Australia.” building or structure on the Trust lands, and the provision of stands and other accommodation for spectators frequenting the Trust lands.

100 2007/08 ANNUAL REPORT TRUST MEETINGS

During the period 1 March 2007 to 29 February 2008, attendances by Trustees at the Grounds and Event Services Committee, Finance Committee, Management Committee, Audit Committee, Hill Grandstand Committee and Trust meetings are set out below.

The number of meetings held were: 7 Hill Grandstand Committee, 4 Grounds and Event Services Committee, 4 Finance Committee, 3 Management Committee, 2 Audit Committee and 11 Trust meetings.

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

Mr R M Cavalier, AO 4 2 1 5 11

Mr E J Cloney 1 4 3 2 5 9

Mr KW Catchpole, OAM 3 2 10

Ms K Chikarovski 2 6 8

Hon M A Cleary, AO 4 10

Mr M Eyers, AM* 1 1 4

Mr P Green 3 6

Ms C Harris, AO PSM 3 9

Mr A B Jones, AO 4

Mr J A McCarthy QC 4 10

Mr R H McGeoch, AM LLB 3 2 3 6

Ms K Schofield 1 2 10

Mr A F Shepherd 4 7 10

Mr P H Warren 3 3 11

Mr G F Lawson, OAM# 3 5

Mr C W Love AM LLB+ 1 4

* Term commenced 14 July 2007. + Term completed 13 July 2007. # Term completed 9 October 2007.

SYDNEY CRICKET & SPORTS GROUND TRUST 101 INDEX

Audited Financial Statement and Notes ��������������������������������������������������������������������������� 50 Business Development ���������������������������������������������������������������������������������������������������� 33 Chairman’s Report ������������������������������������������������������������������������������������������������������������� 2 Code of Conduct ������������������������������������������������������������������������������������������������������������� 94 Commercial and Operations �������������������������������������������������������������������������������������������� 27 Complaints Handling/Privacy Policy ��������������������������������������������������������������������������������� 97 Corporate Services Financial Report �������������������������������������������������������������������������������� 35 Ethnic Affairs Priorities Statement ������������������������������������������������������������������������������������ 92 Financial Indicators ���������������������������������������������������������������������������������������������������������� 47 Freedom of Information ���������������������������������������������������������������������������������������������������� 99 Information Technology ���������������������������������������������������������������������������������������������������� 42 Major Projects ����������������������������������������������������������������������������������������������������������������� 26 Managing the Assets ������������������������������������������������������������������������������������������������������� 20 Managing the Events ��������������������������������������������������������������������������������������������������������� 8 Marketing and Membership ��������������������������������������������������������������������������������������������� 31 Minister’s Foreword ����������������������������������������������������������������������������������������������������������� 1 Organisational Chart �������������������������������������������������������������������������������������������������������� 43 Service Providers ������������������������������������������������������������������������������������������������������������� 30 Statement by Members of the Trust ��������������������������������������������������������������������������������� 49 Statutory Audit Report ����������������������������������������������������������������������������������������������������� 48 Trustees ��������������������������������������������������������������������������������������������������������������������������� 44 Trust Charter and Constitution ��������������������������������������������������������������������������������������� 100 Trust Meetings ����������������������������������������������������������������������������������������������������������������101

102 2007/08 ANNUAL REPORT INSIDE COVER LEFT SPINE 6.088MM INSIDE COVER RIGHT – LAST PAGE

TABLE OF CONTENTS

Minister’s Foreword ...... 1 Chairman’s Report ...... 2 Managing the Events ...... 8 Managing the Assets ...... 20 Major Projects ...... 26 Commercial and Operations ...... 27 Service Providers ...... 30 Marketing and Membership ...... 31 Business Development ...... 33 Corporate Services Financial Report ...... 35 Information Technology ...... 42 Organisational Chart ...... 43 Trustees ...... 44 Financial Indicators ...... 47 Statutory Audit Report ...... 48 Statement by Members of the Trust ...... 49 Audited Financial Statement and Notes ...... 50 Ethnic Affairs Priorities Statement ...... 92 Code of Conduct ...... 94 Complaints Handling/Privacy Policy ...... 97 Freedom of Information ...... 99 Trust Charter and Constitution ...... 100 Trust Meetings ...... 101

2007/08 ANNUAL REPORT

SPINE 6.088MM OUTSIDE COVER SPINE 6.088MM Sydney Cricket & Sports Ground Trust Annual Report 2007/08

2007 2008 Sydney Cricket & Sports Ground Trust Annual Report 2007/08

SPINE 6.088MM