Annual Report | 2015–16 Contents Letter to Shareholding Minister ...................................................2 Chairman’s Report .........................................................................3 CEO’s Report .................................................................................5 About us .........................................................................................8 Organisational chart .....................................................................9 The Board ................................................................................... 11 2015–16 Highlights ..................................................................... 13 Corporate Plan 2014–19 ............................................................ 14 State of Environment Report .................................................... 17 Return on Investment ................................................................ 39 Appendices ................................................................................. 43 Financial Statements .................................................................. 73 Letter to Shareholding Minister Annual Report 2015–16 28 October 2016 The Hon. Stuart Ayres MP Minister for Trade, Tourism and Major Events, and Minister for Sport 52 Martin Place SYDNEY NSW 2000 Dear Minister We have pleasure in submitting, for your information and presentation to Parliament, the Sydney Olympic Park Authority Annual Report for the year ended 30 June 2016. The report has been prepared in accordance with the Annual Reports (Statutory Bodies) Act 1989 (NSW) and the Annual Report (Statutory Bodies) Regulation 2005 (NSW). The report details the work, achievements and relevant statutory and financial information of Sydney Olympic Park Authority. Yours sincerely John Fahey Nick Hubble Chair A/Chief Executive Officer 2 | Sydney Olympic Park Authority Annual Report 2015–16 Chairman’s Report Sydney Olympic Park means so many All of this unceasing activity is managed, things to so many different people. guided, supported and encouraged by For some it is the place of sporting the Park’s custodians, the Sydney Olympic triumph; the Sydney 2000 Olympic and Park Authority. Paralympic Games, the Bledisloe Cup, The Authority is responsible for the the Asian Cup, NRL Grand Finals and the management of Sydney’s most diverse Rugby World and Netball World Cups. and exciting suburb, one that plays host For others it means their favourite to 5,600 events and over 14 million people teams, the Swans and the Giants, the a year. Swifts, Bulldogs, Eels, the Rabbitoh’s, the It is a small organisation, less than 200 Tigers and the Dragons, the Socceroos, full and part-time employees, but they the Wallabies, the Diamonds and the set about their task, melding experience Kangaroos to name a few, all have played and enthusiasm with innovation and a their best here. passionate belief in the Park, to deliver a For many it is a place of leisure and play place like no other. and families and fun. 430 hectares of That passion is evident in all that they open space, picnic grounds and bike do, from protecting our irreplaceable tracks, BBQs and playgrounds, art galleries environmental heritage to overseeing the and heritage train rides. future of the Park. To the business community it is home Throughout the year the Authority to meetings, conferences, trade shows progressed numerous major projects and and exhibitions and the almost 230 initiatives, perhaps the most important organisations based within the Park that of which is the five-year Review of employ over 18,000 people. the Sydney Olympic Master Park Plan, To concert, festival and event goers the blueprint for the Park’s future the Park is home of thrills, spills, music development. and fond memories. From seeing their This critical blueprint for our Park’s favourite musicians, artists, athletes and future will ensure that the Park’s growth entertainers to taking part in events as is both environmentally and financially diverse as the Good Food and Wine Show, sustainable while meeting the needs of Bull Riding Championships, the Supernova both the Government and the people of Pop Culture Expo, the Mind Body Spirit New South Wales. Festival or the biggest event of them all; The revised Master Plan envisions the the Sydney Royal Easter Show. Park’s future population of workers, And over 2,000 residents call the Park students and residents increasing from home. todays 21,000 to 62,000 by 2030. Sydney Olympic Park Authority Annual Report 2015–16 | 3 In addition the at Allphones Arena (12,000) and a major Master Plan swimming championships at the Aquatic envisions the Park Centre (2,000) simultaneously. providing a hub for I look forward to working with the team services to support at the Authority to ensure that Sydney the burgeoning Olympic Park continues to be a remarkably community located unique and successful place for all the Park’s within the ‘Olympic diverse users, now and into the future. Peninsular’ region, in and I would also like to acknowledge around the Park. This rapidly the outstanding contribution of the growing area takes in the Authority’s staff, executive and in developing areas of Wentworth particular outgoing CEO Alan Marsh and Point and the Carter Street Precinct, Chairman Michael Knight. as well as more established areas such as Newington and the Park itself. In addition to the Master Plan, other activity kept the Authority busy throughout the period, including John Fahey overseeing the significant development Chair underway across the Park. During the year work took place on two commercial and three residential sites with plans advancing for several additional commercial, residential and sport-related developments. Throughout the year the Authority made material contributions to the success of a vast range of events, from the Netball World Cup, NRL finals and international football matches, to entertainment acts such as Taylor Swift, AC/DC and Madonna. The precinct provides a unique capability to manage large events across the Park, as shown by the Park’s hosting of Taylor Swift at ANZ Stadium (75,000), the Stereosonic music festival at the Showground (50,000), the Aus-X Open motocross event 4 | Sydney Olympic Park Authority Annual Report 2015–16 CEO’s Report This year the Authority saw the departure at ANZ Stadium, Stereosonic at Sydney of our long-serving Chairman, Michael Showground, Aus-X Open at the then Knight and Chief Executive Officer, Alan Allphones Arena and major swimming Marsh. Both men have given much to the championships at the Aquatic Centre. Authority and the Park over the last decade In total the Park hosted some 140,000 and the success that the Park epitomises people simultaneously, a feat impossible today is in part due to their efforts. anywhere else in Sydney and an emphatic As Chairman, Michael provided leadership testament to the capabilities and expertise and strategic direction fro the Authority of the Park, its venues and the people who during a period of challenge and make it such a thriving event venue. change, Sydney Olympic Park today is a Throughout the period the Authority testament to his leadership and long-term continued to develop alternative and commitment to the Park, stretching back to innovative funding mechanisms to meet before the Sydney 2000 Olympic Games. its financial obligations in a period of As Chief Executive Officer, Alan was falling subsidy from Government. To this intimately involved with the Park’s growth end 70% of the Authority’s annual cash and development, from 60 organisations operating requirements are sourced from and a workforce of 6,000 workers in self-generated revenue. This is despite 2007–08, to 230 organisations and 18,000 maintenance of significant assets such as workers today. Similarly activation has risen the 430 hectares of parklands, which do from 8.5 million people in 2007–08 to over not contribute to our cash flow but which 14 million people today. require significant expenditure to maintain in support of our contribution to the I would like to thank Michael and Alan for community’s wellbeing. their outstanding contribution to Sydney Olympic Park. In addition the Park’s asset base continues to age, with some of it now more than The Park saw more than 14 million people 30 years old. Ensuring these important visit during the year, driven in part by an infrastructure assets continue to deliver increase in major conventions, sporting the results expected of it by the community events and exhibitions held at the Park. and Government remains one of the A particular highlight was the successful Authority’s greatest ongoing challenges. Netball World Cup victory which saw heavy usage of Qudos Bank Arena and Sydney Despite these challenges, the Park continues Olympic Park Sports Centre for matches to go from strength to strength. Visitation and used the Sydney Showgrounds for a numbers are steady, new residential, fan experience centre. commercial and sports developments are underway, major sporting events are This increased number of events is typified scheduled and the year ahead will see the by one day, November 28, 2015. On that continuation of all these trends. day the Park hosted one of the busiest days since the Olympics, with Taylor Swift Sydney Olympic Park Authority Annual Report 2015–16 | 5 In sports news the Park • 5 NRL teams (Eels, Tigers, Rabbitohs, continues to set new Dragons and Bulldogs); standards in capability. • An AFL Team (GWS Giants); The decision to base • Two Netball