04-05 Sydney OlympicPark Authority nulRpr 2004-05 Annual Report

Sydney Olympic Park Authority Annual Report

Letter to the Minister

31 October 2005

The Hon. Sandra Nori, MP Minister for Tourism, Sport and Recreation, and Minister for Women Level 34 Governor Macquarie Tower 1 Farrer Place, Sydney NSW 2000

Dear Minister,

We have great pleasure in presenting the Annual Report of Sydney Olympic Park Authority for the year ending 30 June 2005 for submission to Parliament.

The report has been prepared in accordance with the provisions of the Annual Reports (Statutory Bodies) Act 1984 and the Annual Reports (Statutory Bodies) Regulation 2000. The report details the work, achievements and relevant statutory and financial information of the Sydney Olympic Park Authority.

Yours Sincerely,

David Richmond AO Chairman, Sydney Olympic Park Authority

Brian Newman Chief Executive Officer, Sydney Olympic Park Authority

Letter to the Minister 1 David Richmond AO Chairman’s Report Chairman, Sydney Olympic Park Authority

The 2004-05 year has The Park is rapidly emerging as an urban 2004-05 was also significant for: In January 2005 two new Directors, growth centre and is attracting major John Coates and Jack Cowin, were • over 6.8 million people visiting been one of sustained investment interest in commercial, formally appointed to the Sydney the Park growth and significant sporting, education, hospitality and Olympic Park Authority Board and residential development. There are • the relocation of several high Directors Gabrielle Kibble, Chris achievement for now over 60 businesses on-site and profile teams to the Park to Christodoulou, Penelope Figgis the recent announcement that the play their ‘home’games here, and myself were reappointed to Sydney Olympic Park, Commonwealth Bank of Australia will and over 1.5 million people the Board for a three year term to its state-of-the-art relocate 1,400 staff to Sydney Olympic participating in 50 different 31 December 2007. Park is testament to the growing level sports across the Park On behalf of the Board I would like to venues and for the of investor confidence in the future of • the endorsement of ‘Vision 2025’ extend my thanks to the management the Park. Authority. by the Department of Planning team and staff of the Authority led by Substantial residential growth in and leading to the development of a Brian Newman, and congratulate them around the Park over the coming years new Master Plan for the Park for their achievements during 2004-05. will result in the parklands becoming I also express sincere thanks to our • Sydney SuperDome being named increasingly important as a recreational Minister, the Hon. Sandra Nori, for her as the highest grossing open space and metropolitan regional continued support of Sydney Olympic entertainment venue in the park for this burgeoning population. Park and her enthusiastic leadership. world for the six months January The Board and its management team During 2004-05, a number of service to June 2005, and the Novotel look forward to the next period of improvements were made in our and Hotel Ibis being among the growth and development at the Park, parklands including the opening Accor Group’s leading Australian with a team that is well positioned to of WatervieW Café, Restaurant and hotels meet the opportunities and challenges Convention Centre in Bicentennial Park • $3.7 million in business secured in the year ahead. I commend the and upgrades to Wentworth Common through the centralised business Sydney Olympic Park Authority Annual and The Overflow. The unique Brickpit events booking service Report 2004-05 to you. Ring elevated walkway, to be opened by Christmas, will create a vital connection • emerging recognition of the between the new town centre and the Park as Sydney’s premier cycling parklands and will tell the story of the destination with over 35kms social, industrial and ecological history of cycleways. Yours Sincerely, of the Brickpit.

David Richmond AO Chairman, Sydney Olympic Park Authority

2 Chairman’s Report Chairman’s Report 3 Brian Newman CEO’s Report Chief Executive Officer, Appendices Sydney Olympic Park Authority

The 2004-05 year was This year’s report reviews our Our research shows that visitation I am particularly pleased with the I see the 2004-05 year as the last of achievements across the organisation’s to Sydney Olympic Park reached 6.8 progress we are making in defining a Sydney Olympic Park’s ‘founding’ years – another important four key business activities of place million in 2004-05 and we forecast this new long-term vision for the precinct. the Park is now clearly evolving into stepping stone for the making; place management; marketing figure to grow to 10 million by 2010. During the year, the Department of the growth phase of its development and brand development; and finally our A pleasing aspect of this visitation was Planning endorsed our new blue print life cycle, a phase that will offer some Authority and for Sydney performance in realising financial, the increased use and enjoyment of for the Park’s future – Vision 2025 – as exciting prospects across all sectors Olympic Park, on many social and economic returns on the Sydney Olympic Park’s 425 hectares being consistent with the direction of the development market. significant public investment made of parklands which are now being of the Metropolitan Strategy. A new I would like to thank all of my team levels including visitation, in Sydney Olympic Park. discovered, especially by bicycle riders Master Plan is currently being who have worked so hard over the who enjoy one of the most unique developed for completion in early 2006. new investment, new Nearly five years on from the Olympic year to progress our business objectives parkland settings in the world. The Plan suggests that the precinct has and Paralympic Games we are and raise awareness of our brand product development upwards of 1.5 million m2 of additional seeing real signs that a physical Our major venues are all performing and its values. They are excited by and brand recognition. development capacity that could offer transformation of the precinct is very well – the Sydney SuperDome Sydney Olympic Park’s future and living opportunities for 15-20,000 underway. One of those signs is the was ranked number one in the world the directions we are taking – it’s a residents, job opportunities for 20,000 level of construction activity – not on in the first half of 2005; Telstra Stadium long-term journey, however, the signs workers as well as becoming a home more sporting facilities, but activity announced some major signings with are very positive that we can shape a for thousands of students. related to new office, residential, hotel, NRL clubs that will make it one of the special place that will continue to education and retail facilities that will most well utilised sporting stadiums in By the end of the financial year, play a major role in the lives of be the building blocks to a 20 year the world; the business events market construction work was well all Australians. development program for the creation grew by 63% in 2004-05 with some underway on a new $8 million of a new township in and around the positive trends in the number café/restaurant/function centre within Olympic precinct. No other Olympic of exhibitions conducted at the Bicentennial Park and we were able city has attempted such a bold vision Royal Agricultural Society’s ‘Sydney to announce that the Commonwealth for creating a lasting legacy from its Showground’ facilities; and sporting Bank of Australia had decided to Olympic investment. venues, such as the Aquatic, Athletic, relocate about 1,400 staff to the Park Tennis and Sports Centres, all in early to mid 2007. The 23,000 m2 In addition to overseeing this process Yours sincerely experiencing a busy year. Sydney building will be the first of three of urban transformation, the Authority Olympic Park’s sporting and commercial buildings being developed is wishing to ensure that the model entertainment venues continue by Charter Hall and AMP Capital created represents an international to make a major contribution to Investors within the Park’s new town exemplar for intelligent place-making. the health and wellbeing of our centre. Negotiations were also well Whilst the challenge is significant, we community, whilst hosting some advanced with investors seeking to are confident that our vision for Sydney of the world’s premier events. develop a new five star hotel within Olympic Park – both in terms of the the precinct, whilst at the other end urban form and the economic posture Brian Newman of the market, a tender process was of the township – is well considered Chief Executive Officer, commenced to secure a budget hotel and will achieve the long term Sydney Olympic Park Authority to service the sports and business economic viability that the precinct traveller market. requires.

4 CEO’s Report CEO’s Report 5 2004-05 Key Achievements Appendices

Over 6.8 million people visited Sydney Olympic Park in 2004-05 Vision 2025 was endorsed in principle by the Department of Planning with the Master Plan to be completed 2005-06

Sydney SuperDome named as the highest grossing venue Novotel and Hotel Ibis, Sydney Olympic Park continue to trade well ahead of in the world, with 22 shows bringing in more than $30 million in the six 5-year forecasts and are among the Accor Group’s leading months from January-June 2005 Australian hotels for 2004-05

The Park has become Australia’s ‘Home of Sport’with the Bulldogs, The Park is fast becoming Sydney’s premier cycling South Sydney Rabbitohs, Sydney Swans, Sydney Swifts,West Sydney Razorbacks and Wests Tigers to play ‘home’ games at the Park from 2005-06 destination with over 35 kms of cycleways and three new Bike Safari circuits opened in 2004-05

$3.7 million in business was secured through the Over 50 different sports, with 1.5 million participants centralised business events booking service in 2004-05, up 63% from 2003-04 were played at the Park in 2004-05

Sydney Olympic Park is now home to 60 on-site businesses Commonwealth Bank of Australia announced they will relocate providing advanced educational, sporting, information technology, community 1,400 staff to Sydney Olympic Park in early 2007 and communication services and retail outlets

6 2004-05 Key Achievements 2004-05 Key Achievements 7 Sydney Olympic Park Authority Contents Charter

9 Sydney Olympic Park Authority Charter Our Mission Corporate Governance and Board 10 Our mission is to manage the evolution of Sydney Olympic Park from its Olympic state to a vibrant town incorporating one of the largest, most Organisational Structure 14 diverse urban parklands in Australia.

Corporate Planning Framework 15 Our Vision Our vision is for Sydney Olympic Park to become an internationally recognised 1 Making the Park 16 example of intelligent place making – a dynamic and diverse township for Evolving and developing Sydney Olympic Park into a dynamic and diverse township for living, working, leisure and learning living, working, learning and recreation – a place for all people set within 2 Managing the Park 20 a world-class built and natural environment. Maintaining, operating, conserving and activating Sydney Olympic Park for present and future generations Our Act Under the Act, a governing Board of Serving the Public 3 Promoting the Park 26 Authority (the Board) was created to Sydney Olympic Park Authority The Authority is committed to the Communicating Sydney Olympic Park’s identity and enriching provide direction and guidance to the (the Authority) was established on highest standards in serving the public the visitor experience Authority to ensure it meets its core 1 July 2001 as a statutory body of the of NSW. In achieving its mission it seeks functions. They are to: 4 Return on Investment 30 NSW Government under the Sydney to support three key Government Olympic Park Authority Act 2001. Our • promote, coordinate and manage priorities: Generating economic activity and returns for the people of NSW charter is to manage and promote the the orderly and economic 1. the promotion of sustainable urban 640 hectare Sydney Olympic Park site, development and use of Sydney development outcomes and including protection of the 425 hectare Olympic Park, including the liveable cities Financial Statements 32 parklands. provision and management of infrastructure 2. the development of healthy and The Sydney Olympic Park Regulation liveable communities 2001, incorporating Sydney Olympic Park • promote, coordinate, organise, Appendices Amendment Regulation 2004, requires manage, undertake, secure, provide 3. generation of social, environmental the Authority to make all reasonable and conduct cultural, sporting, and economic returns on efforts to ensure that: educational, commercial, tourist, Government investment in recreational, entertainment and Sydney Olympic Park and, in turn, 56 • Sydney Olympic Park becomes an Appendix A Appendix F 66 transport activities and facilities the realisation of a lasting Olympic active and vibrant town centre – Financial – Consultancy Services legacy. within metropolitan Sydney • protect and enhance the natural 57 Appendix B Appendix G 66 and cultural heritage of Sydney • Sydney Olympic Park becomes a – Statutory Reports – Research and Development Costs Olympic Park, including the premium destination for cultural, parklands Appendix C 60 Appendix H 67 entertainment, recreation and – Capital Works and Environmental Compliance – Publications sporting events • provide, operate and maintain public transport facilities within Appendix D 62 Appendix I 68 • any new development carried out Sydney Olympic Park – Staffing Overview – Guide to Abbreviations and Acronyms in accordance with the Act Appendix E 65 Appendix J 68 complies with best practice • liaise with and maintain – Freedom of Information – Annual Report Costs and Accessing environmental and town planning arrangements with Olympic the Authority standards organisations, such as the International Olympic Committee • the natural heritage of the and the Australian Olympic parklands is protected and Committee. enhanced.

8 Contents Charter 9 Corporate Governance and Board Board Member Profiles

The Hon. Sandra Nori, MP Terms of Office Chris Christodoulou John D Coates AO Jack Cowin The Board has seven Board Members BA LLB LLD including the Authority’s Chief Executive Officer (CEO). In January 2005 the Chairman David Richmond and Directors Gabrielle Kibble, Chris Christodoulou and Penelope Figgis were reappointed to the Board for a three-year term to 31 December 2007. Two new members, John Coates and Jack Cowin, were formally appointed by the Hon. Sandra Nori, MP in January 2005, for a three-year term to 31 Mr Chris Christodoulou was initially Mr John Coates was appointed to the Mr Jack Cowin was appointed to the December 2007. Sydney Olympic Park appointed to the Board on 1 July 2001. Board on 1 January 2005. He is President Board on 1 January 2005. of the Australian Olympic Committee Authority sits within This appointment was extended for He is the Founder and Executive Pecuniary Interests Inc. (since 1991) and a Member of the a three-year term commencing Chairman of Competitive Foods the portfolio of the Board members are required to disclose International Olympic Committee 1 January 2005. Australia Pty Ltd which owns and any direct or indirect pecuniary interest (since 2001), its Juridical, TV Rights operates over 300 fast food restaurants, Hon. Sandra Nori, MP, they have in any matter being Mr Christodoulou is Deputy Assistant and New Media Commission and the trading as Hungry Jack’s and Kentucky considered by the Board. A register Secretary of Unions NSW. His 2012 London Games Coordination Minister for Tourism, Fried Chicken, in Australia. In addition, is kept outlining Board Members’ distinguished career in the union Commission. Sport and Recreation, disclosures. movement began in 1981 and has the company franchises 46 Hungry involved roles as Joint Assistant Mr Coates will be Chef de Mission of Jack's units operated by third party and Minister for Interaction with Management National Secretary of the Australian the 2008 Australian Olympic Team in franchisees. Hungry Jack's is a Master Beijing having held the same position Franchisee of Burger King Corporation The CEO and senior executives regularly Liquor, Hospitality and Miscellaneous Women. in Athens, Sydney, Atlanta, Barcelona for Australia and KFC is a franchisee of brief the Board on aspects of the Workers Union, and Coordinator and Seoul and other senior team YUM International. The company’s Authority’s activities and performance of the NSW Labor Council’s Unions positions in Los Angeles, Moscow and three manufacturing plants produce and seek and receive guidance and 2000 which liaised with the Sydney Montreal. He was Senior Vice President food products for the supermarket direction on policy and operational Organising Committee for the Olympic of the Sydney Organising Committee and food services industry and export matters. Board Members receive Games over industrial relations issues. for the 2000 Olympic Games and to 26 countries. regular financial updates from the Mr Christodoulou has responsibility Vice President of the Sydney Olympic Executive Director of Finance on all Mr Cowin is a Director of Network Ten, on behalf of Unions NSW for the Bid Committee. aspects of revenue, expenditure and construction industry. He is actively a Director of BridgeClimb, Chairman of debtors. involved in a number of organisations He is a Council Member of the the investment bank, CIBC Australia Ltd, including the Wollongong Sports International Rowing Federation (FISA), and is Governor of the Centennial Ground Trust (Chairperson) and Vice President of the International Parklands Authority. Council of Arbitration for Sport, former the Correctional Services Industry From 1992 to 1995, Mr Cowin served Attendance of Board Members at Board Meetings President of the Australian Rowing Advisory Council. as Chairman of the Australian Taiwan From 1 July 2004 to 30 June 2005 the Board met six times. Council, and Deputy Chairman of Business Council and remains an the Australian Institute of Sport Board Members Aug 04 Oct 04 Dec 04 Feb 05 May 05 June 05 Meetings attended ex-officio member of the Board. and Australian Sports Commission. David Richmond Yes Yes Yes Yes Yes No 5/6 Mr Cowin also has a 98% share in the Mr Coates is a partner of Kemp Barossa based wine company,Torbreck John Coates N/A N/A N/A Yes Yes No 2/3 Strang Lawyers, Deputy Chairman Vintners Ltd, which produces fine of David Jones Limited, a Director of quality red wines. Jack Cowin N/A N/A N/A Yes Yes Yes 3/3 the managers of the Grant Samuel Laundy Pub Fund, a Director of Chris Christodoulou Yes Yes Yes Yes Yes No 5/6 Grosvenor Australia Asia Pacific Penelope Figgis Yes Yes Yes Yes Yes Yes 6/6 and its Australian subsidiaries, and a Director of United Customer Gabrielle Kibble Yes Yes Yes Yes Yes Yes 6/6 Management Solutions Pty Ltd. Brian Newman Yes Yes Yes Yes Yes Yes 6/6

10 Corporate Governance and Board Board Member Profiles 11 Board Member Profiles

Penelope Figgis AM Gabrielle Kibble AO Brian Newman David Richmond AO, Chairman BA (Hons) BA Dip TCP FRAPI DSc hc UNSW BE (Civil) MBA MEc

Ms Penelope Figgis was initially Mrs Gabrielle Kibble was initially Mr Brian Newman was appointed to Mr David Richmond was initially appointed to the Board on 1 July 2001. appointed to the Board on 1 July 2001. the position of Chief Executive Officer, appointed Chairman of the Board This appointment was extended for This appointment was extended for Sydney Olympic Park Authority on 29 on 1 July 2001. This appointment a three-year term commencing a three-year term commencing January 2002 and joined the Board on was extended for a three-year term 1 January 2005. 1 January 2005. that date. commencing 1 January 2005. Ms Figgis has been a senior member She has been a non-Executive Mr Newman came to the Authority He is currently Foundation Director of the Australian environment Director of Sydney Water since 1997 from a successful tenure as Chief and Professor, Graduate School movement for over 20 years. In the and Chairman since 1998. Executive Officer of Emaar Properties of Government, at the University early 1980s she was a national lobbyist in Dubai, United Arab Emirates, where of Sydney. Mrs Kibble is also Chairman of Sydney for the environment movement to he managed some of Western Asia’s Water’s trading subsidiary, Australian As Director General of Sydney 2000, which she has contributed through a largest property development projects. Water Technologies Pty Ltd, Chairman Mr Richmond was responsible for range of roles including political of Sydney Water’s Remuneration Prior to this, Mr Newman was overseeing all operations of the Sydney adviser, writer, lecturer and consultant. Committee, and a member of Sydney Managing Director of Nusajaya Olympic and Paralympic Games and She has served on the statutory boards Water’s Public Health Research Development Sdn Bhd, the lead coordinating NSW Government services of the Environment Protection and Development Committee and developer of Malaysia’s largest new provided to the Sydney 2000 Games. Authority of NSW, Uluru Kata Tjuta its Audit, Risk, Finance and Major town development and second From July 1995 until April 2001, National Park, the Great Barrier Reef Projects Committee. gateway to Singapore. Mr Richmond was Director General Consultative Committee, the Australian Mrs Kibble is also the Administrator of Mr Newman has held executive of the Olympic Coordination Authority, Tourist Commission, Landcare Australia, Liverpool Council, Director of Questacon positions in the Australian property responsible for the development of the Jenolan Caves Trust and the (The National Science and Technology sector including Chief Executive Officer Sydney Olympic Park and the building Commission for the Future. Centre), and Trustee and Deputy of City West Development Corporation of Games venues and facilities. She is currently the Vice Chair for Chancellor of the University of Western and Acting Chief Executive Officer of Mr Richmond has held a range Australia and New Zealand of the Sydney. She is a Fellow of the Royal the Honeysuckle Development of senior positions in the NSW World Commission on Protected Areas Australian Planning Institute and an Corporation. Government including Chief Executive and Member of the Northern Territory Honorary Associate of the Graduate As State Manager for Lend Lease Officer, NSW Department of Health Parks and Wildlife Advisory Council. School of Government, University Development during the early 1990s, and Chief Executive Officer, NSW Land Until early 2005, Ms Figgis was a of Sydney. Mr Newman oversaw development Commission. He was also a member long-standing Vice President of the of the Australia Centre at Sydney of the Public Service Board of NSW. Australian Conservation Foundation. Olympic Park. Mr Richmond is Chairman of the Ms Figgis’s work on nature In 2004, Mr Newman was appointed to Redfern Waterloo Authority and the conservation, protected area policy the Greater Western Sydney Economic NSW Government’s Parramatta Road and sustainable tourism has been Development Board, Sport Knowledge Corridor Task Force. He also provides published widely. Australia and the Board of the Sydney advice to Olympic Games cities for Convention and Visitors Bureau. the International Olympic Committee.

12 Board Member Profiles Board Member Profiles 13 15

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Creative Industries Creative an urban environment conducive of creative to the attraction industries … an information, that knowledge based economy art,links culture, commerce and community Environment reputation international Park’s sustainability environmental for Games’, ‘Green arising from the economy’ ‘green to establish a by activities such as characterised research,environmental education, involvement and the and tourism of of businesses in the creation capital. environmental u

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n i w e e b l l • • , – . Place Making Promoting the Promoting , – becoming a lively a lively – becoming – becoming a centre a centre – becoming – positioning Sydney Olympic – positioning Sydney Optimising Returns on Optimising Returns , and Sport sports premier as Australia’s Park a totally and creating destination sports industry integrated model … one that is unique in the world Education and in education excellence for … a campus with diverse training student and institutional base, of the into the fabric woven urban townscape Health,Wellbeing and Leisure Olympic Park establishing Sydney as a holistic township and a place of enrichment spiritual, … for emotional, occupational, intellectual, economic, social, and improvement welfare physical Culture, the Arts, and Food Entertainment culture, for centre regional the arts, and entertainmentfood … that social and cultural distinctive offers opportunitiesthose who reside for at or visit the Park Park Government Investment Plan outlines Corporate The Authority’s developmentan economic strategy that Olympic Park’s Sydney will drive developmentfuture to six according themes: core In realising the Olympic legacy of In realising Olympic Park Sydney transforming a viable and dynamic new into town, Authority’s Olympic Park Sydney primary are objectives Place Management • • • • Corporate Planning Framework Corporate Contract Management Property Development Arts Development Assets and Infrastructure Programs Tour and Education Environment and Ecosystems Support Venue and Operations Parklands and Entertainment Events Public and Security Safety Site Presentation Transport and Traffic Centre/Services Visitor Experience Visitor Building Approvals and Events Compliance and Events Building Approvals Sustainability Management Urban Design Urban Planning Services Project Works Capital Management Major Assets Management and Energy Management/WRAMS Water Development Business Events Marketing Leisure Communications Marketing Services Marketing Media Relations and Sponsorship Relations Strategic Business Development Tourism and Receivable Payable Accounts Services Commercial Control Financial Accounting Systems Financial Management and Reporting Accounting Management Park Property/Car Risk Management Liaison Treasury Management and Lease Venue Services Administrative Services to Board,Executive Chairman, Office CEO and Minister’s Coordination Governance Management Human Resource Services – IT&T,Information and CADD Management Records Creative Industries Development Creative Development Education Development Economic Environmental Sports Development Property Development Business Development Arts Development Sustainability Place Management Major Assets Management and Marketing Communications and Finance Commercial Services Corporate Services Chief Executive Officer Organisational Structure Organisational Organisational Structure Organisational 14 Board Making the Park

Commonwealth Bank of Australia Relocates to the Park In June 2005 the Commonwealth Bank of Australia announced that it will relocate 1,400 bank employees to a new 23,000 m2 building within the new town centre of Sydney Olympic Park. The six storey building, which will incorporate a major training centre, call centre and administrative centre, is expected to be completed in early 2007. The Bank’s decision represents one of Making the Park the largest tenancy pre-commitments recorded in the Sydney suburban office market and is a major expression of Sydney Olympic Park Authority fulfils a place making function third party investor confidence in Sydney – evolving and developing the Park, its facilities, programs, Olympic Park by one of Australia’s largest companies and institutional 1 infrastructure and community, to create a dynamic and investment organisations. diverse township for living, working, leisure and learning. WatervieW Café, Restaurant and Convention Centre In 2004-05 the foundations were laid for the construction of the new WatervieW Café, Restaurant and Convention Centre Artists’ impression of the upgrade of Jacaranda Square at Sydney Olympic Park at Bicentennial Park. Brickpit Ring Vision 2025 Master Property Development Due to open in October 2005, WatervieW will feature a café offering In June 2005, the Hon. Sandra Nori MP,formally • serve as an educational vehicle for primary Plan During 2004-05 the Park witnessed a drinks and light meals, an a la carte launched construction of the unique $6.5 million and secondary school students in the syllabus Vision 2025 is the Authority’s long-term heightened level of investment and restaurant seating 180 guests and a Brickpit Ring attraction at Sydney Olympic Park. areas of Design & Technology, Human Society vision for the development of Sydney development activity, indicating that the visitor information service.WatervieW The Brickpit Ring will: & Its Environment and Science & Technology Olympic Park. In 2004-05 it was precinct’s planned transformation into a will also offer a multi-function vibrant new township is rapidly gaining conference facility capable of hosting • provide the public a unique means of endorsed in principle by the Department • serve as a tourist attraction for the Park’s of Planning. Following briefings and momemtum. Some key initiatives of the up to 2,000 people and will offer five experiencing the spatial quality of the growing leisure tourism market. consultation with Sydney Olympic Park’s activity included: individual function rooms for weddings, 70 metre deep, four hectare Brickpit The resolution of how the Authority could key stakeholders, a new Master Plan will • 40,000 m2 of commercial private functions and corporate events. • provide a connection between the Park’s provide public access to the historical Brickpit be finalised for consideration by the developments valued at $160 million Department of Planning next financial town centre and the parkland precincts of whilst facilitating protection of the endangered were commenced year. Wentworth Common, Newington Armory Green and Golden Bell Frog, which has • land sales activity and private and the Badu Wetlands established a natural habitat on the Brickpit Vision 2025 will provide the blueprint sector investment to the value floor, was a major design challenge. The Brickpit for all future residential, commercial, of $30 million were recorded • tell the story of the social and industrial has been subject to extensive and exhaustive educational, cultural and retail history of the Brickpit, its geology, its • the Authority generated investment review, analysis and expert consideration to development at the Park in order ecological significance, and its role within to create a vibrant and sustainable interest in projects valued at around ensure preservation complies with the ecological, the Park’s innovative water recycling system. urban centre. $80 million across the food, leisure, legislative, planning and public safety constraints sport, education and hotel sectors. This story will be told via an interpretative that apply to it. experience including display panels and audiovisual ‘sound-scape’ elements featuring The new attraction is expected to be completed voices of former workers at the Brickpit, and in time for the 2005 Christmas school holidays. sounds of different frog and bird calls associated with the sites’ unique fauna Top left Artists’ impression of the Brickpit Ring elevated walkway

16 Making the Park Making the Park 17 Making the Park

Education • development of four sport Sports Development Arts and Cultural and activity based education Development programs linked to the school In 2004-05 the Authority assisted Development sector’s Personal Development, sports associations and sports affiliated During 2004-05 the Authority Sydney Olympic Park Authority Health & Physical Education services, businesses and partners to continued to build on its ‘Education considers ‘art’ to be a vital element (PDHPE) curriculum. engage with the Park and its venues. of its place making objectives. Campus’ concept for the Park through As a result: strategies designed to embed learning In August 2005, expressions of interest Consequently, Sydney Olympic Park institutions and student life into the will be sought from the education • 1.5 million people participated in is being positioned to become a lively fabric of the new township. industry for the creation of education some 50 different sports played at and vibrant focal point for a new and facilities and innovative programs at the Park during the year exciting form of artistic expression – a Key initiatives included: the Park. place where established and emerging • stage one of the Authority’s artists and communities work together • launch of Sport Knowledge ‘Monster Skate Park’ – an exciting Australia – an International Sport Knowledge Australia across diverse settings. new action sports facility – was Visitors admire artworks by 2004 Higher School Certificate Visual Arts students at ArtExpress at the Armory Centre of Excellence in Sports In June 2005, the Hon. Pat Farmer, completed for the 2005 Royal Easter To achieve this goal a new Arts Science and Sports Management Parliamentary Secretary to the Minister Show. The full scale facility, which Development Advisory Committee met Enhancement of the Parklands Foundation for the first time in November 2004, • launch of the ‘Stay and Learn’ for Education, Science and Training, is being positioned to become Parklands The Authority established the Parklands to provide independent and strategic program at the 2005 World Expo officially launched Sport Knowledge Australia’s premier action sports Foundation in May 2005 to assist with advice on the Authority’s arts and During 2004-05 the Authority in Aichi, Japan Australia (SKA). An initiative of the centre, will open in late 2005 the enhancement and appreciation of cultural activities. continued to undertake projects to Federal Government’s International Sydney Olympic Park’s parklands. • development of school excursion Centres of Excellence program, the • new events were established enhance and enliven the parklands at Significant arts and cultural initiatives products and education seminars $8.7 million funding pledge to establish including the Weetbix Kids Sydney Olympic Park. These projects The Foundation will support in 2004-05 included: for the Houses of the Future SKA will provide professional level TRYathlon (1,600 competitors included: educational, environmental, cultural, and 3,000 supporters), Adventure exhibition – involving cooperative education delivered by internationally • development of Newington Armory • creation of the Badu Mangrove scientific and recreational projects and Racing (100 teams running, cycling marketing and sponsorship renowned sports science and as a key arts and cultural site.Works pathway, linking Bicentennial Park, programs within the parklands. It will and kayaking) and the Nike Twilight opportunities with the NSW management educators. included the fitting out and piloting Bennelong Road and the Bay add value to the future of the Park by Department of Education and Fun Run (4,000 runners) of Building 18 as an exhibition generating initiatives that would not Jointly owned by Sydney Olympic Park Marker, and providing a viewing Training (DET), TAFE NSW and the space, equipping Building 22 as a otherwise be possible. Authority, the University of Sydney, and • world record crowds attended platform for the historical Sydney Building Information Centre performance space with sound University of Technology, Sydney (UTS), netball matches at the Sydney shipwrecks in Homebush Bay The Parklands Foundation Limited is SuperDome involving the Sydney and lighting equipment and • continuing development of SKA will deliver market driven, leading • completion of a Master Plan for a subsidiary corporation under the TAB Swifts and the Australian staging, and designing artists’ curriculum based excursion edge, practical and premium quality the open space associated with Sydney Olympic Park Authority Act, team studio space for Building 24 products across Sydney Olympic education products in Australia and P5 car park Sydney Olympic Park, established with the approval of Park, in partnership with the overseas. The first SKA courses, which • major sporting events were secured • hosting of Sydney’s largest the Archery Centre and Nuwi the Hon. Sandra Nori, MP,and the DET and Metropolitan Catholic will commence in late 2005, include the for the Park including the Australian ArtExpress exhibition at Building 18, Wetland, to create a regional park concurrence of the Treasurer of NSW. Education Offices Executive Sport Management Program Swimming Championships, the Newington Armory, attracting predominantly catering for active It is a not-for-profit company limited by and Elite Sport Coaching programs. Qantas Skins Swimming Meet, 4,000 visitors sports including Mountain Biking guarantee and is registered under the Corporations Act 2001. The Board of the the Australian Athletics • an Artist in Residence program with and BMX Championships, the Australian Foundation includes the Chairperson of theatre group, Urban Theatre • completion of the childrens’ bicycle All-Schools Athletics the Sydney Olympic Park Authority, the Projects, for creative development loop in Wentworth Common Chairperson of the Parklands Advisory Championships, the Handball of a new production Pacific Cup, the Australian Handball • upgrade of existing playgrounds in Committee and independent Directors Championships, the Australian • relocation of the peak body for Bicentennial Park and Wentworth to be appointed by the Minister. Volleyball League, Davis Cup Tennis, Community Cultural Development Common and creation of a new The Foundation has made an the Medibank International Tennis in NSW (CCDNSW) and the film children’s playground at The application to the Department of and the 2005 Australian Youth production organisation Cinewest Overflow the Environment and Heritage for Olympic Festival. Limited to the Park • completion of a Master Plan for Deductible Gift Recipient status so it A new ‘Home of Sport’ section was • staging of Sydney Festival’s Blaxland Common and Newington can offer tax-deductibility for donations added to the Authority’s website opening event, The Lazy Kings, Armory to create a popular riverside supporting its Objects and become an in June 2005 to cater for sport in January 2005 park in Blaxland Common, and to attractive and transparent vehicle for investment, sponsorship and grants. enthusiasts, resulting in increased web • launch of the Arts Development protect and communicate the visits and more direct communication Strategy by the Hon. Sandra Nori, natural and cultural heritage values The Parklands Foundation is expected The Clay House at Sydney Olympic Park’s ‘Houses of the Future’ exhibition about sporting activities and sports MP. of the Newington Armory site. to be fully operational in 2005-06. development at the Park.

18 Making the Park Making the Park 19 Managing the Park

Assets and Amenities Operations, Safety The Authority has a responsibility and Security in to maintain the Park’s $1.9 billion of public assets and in 2004-05 spent the Park $10.3 million on the creation of new During 2004-05 the Authority actively public assets and the replacement of supported 89 major event days worn and depreciated assets. Assets within the Park by managing crowd, are managed according to Asset parking, traffic and transport access. Management Plans consistent with The Authority’s Operations Centre NSW Government requirements operated on a 24/7 basis throughout for Total Asset Management (TAM). the year, including event days, Refer to Appendix C for a list of major to provide a security patrol and capital works completed during monitoring regime and coordinate Managing the Park the year. management of all site activity including security issues, traffic and Sydney Olympic Park Authority fulfils a place management Site Presentation transport incidents, and maintenance function to maintain, conserve and operate the Park’s natural The Authority continued to maintain, services. All security activities are repair and replace, as required, built coordinated with NSW Police and 2 and built assets and to activate and enhance these assets in a elements of the Park including 20 km Emergency services and, internally, of roads, 41 km of pathways, 43 security is handled by a Security sustainable way for present and future generations. playground elements, 219 public Management Committee. facilities, 906 park furniture items and 17 public artworks. During 2004-05, the Authority updated its Visitor Health & Safety The combined landscape Plan and Business Continuity Plan, maintenance and cleaning activity engaged in a number of exercises required to maintain the health and and training sessions and took a lead Home of Sport quality presentation of the Park’s role in the coordination of strategic 425 hectare of parklands involved security matters at the Park. As the Park’s place manager the Authority is Sporting teams that will, from 2005-06, be some 68,746 landscape maintenance Following a comprehensive security responsible for the day to day management of playing ‘home’ games at the Park now include: labour work hours during the year. threat assessment, the Authority the precinct and for enhancing the long term This included the planting of 41,824 developed a Strategic and Operational • 2004 NRL premiers the Bulldogs, the high plants, the placement of 2,450 cubic The Games Memories installation – just one viability of venues and assets under its direct or of Sydney Olympic Park’s 17 public artworks Security Plan. profile Wests Tigers and the famous South metres of mulch, irrigation using 588 indirect management. Maximising public usage Sydney Rabbitohs megalitres of water and regular A new waste and cleaning contract of the Park’s sporting, recreation, entertainment cleaning of the range of public was let in 2005 following finalisation facilities and infrastructure, and driving increased • 2004 Commonweath Bank Netball Trophy amenities, paved areas, waterways, of the previous contract. Landscape visitation and enlivenment of the Park is central holders the Sydney TAB Swifts and landscaped gardens. 508 tonnes services are delivered according to a to the Authority’s role. of public waste was collected from set of documented landscape • National Basketball League’s West Sydney The success of the precinct is also reliant on the the public domain of which 15.4% presentation standards and plans, Razorbacks or 80 tonnes was presented which are updated annually in achievements of the Park’s key stakeholders who for recycling. accordance with funding availability. operate world-class sporting, recreation and • QBE Sydney Swans who hold the record for entertainment facilities. Through the efforts drawing the largest spectator attendances of Telstra Stadium, Sydney SuperDome and for AFL outside of Victoria. our other on-site venues, supported by the The home teams contribute to the Park’s Authority’s business development activities, emerging national and international reputation Sydney Olympic Park recorded some major as Australia’s 'Home of Sport' which is building achievements in building the Park as the ‘Home on the foundations of our Olympic legacy to of Sport’ by attracting some of Australia’s best ensure optimisation of the Park’s transport, retail, known sporting teams to the Park. recreation, business and service infrastructure.

Top left Several high profile teams now call Sydney Olympic Park ‘home’

20 Managing the Park Managing the Park 21 Managing the Park

Traffic and Transport Visitor Experience Visitor Monitoring • the Park was again ranked first out of 11 participating park The Authority refined and implemented To ensure ongoing quality Over 6.8 million people visited Sydney management authorities within its major event traffic and transport improvement at Sydney Olympic Olympic Park during 2004-05 to attend the Sydney region in the Park User management plans and continued to Park, the Authority monitors visitor sporting, entertainment, community Satisfaction Survey Program which reinforce and promote the use of public satisfaction and experience by and business events; enjoy the assesses visitor satisfaction with transport as a sustainable form of constantly seeking feedback from parklands; be a spectator or participant regard to the extent and standard transport to and from the site during visitors to the Park. As part of the in activities at one of our on-site of maintenance of public parks. major events. Authority’s visitor services and event venues; or as part of a school excursion Sydney Olympic Park achieved planning and management program, The Authority provides up to 10,000 program. The Authority recognises a rating of 83%. feedback is collected through an pay-and-display car parking spaces, the importance of providing a positive integrated research program that The Authority is utilising the survey including 400 free, two-hour time experience for all visitors to the Sydney Olympic Park’s wetlands provide a unique environment for school excursions includes face-to-face surveys, self results for a number of purposes limited, on-street car parking spaces for Park and is continually refining completed questionnaires, feedback including: to determine appropriate casual and event visitors to the Park. microfiltration and reverse osmosis better deal with impending and adapting its management forms and telephone interviews. maintenance specifications that During the year, over 1.1 million vehicles to ensure the supply of high quality changes such as rises in sea levels and operational strategies to ensure In 2004-05: align with customer requirements; parked in the Authority’s car parks, with recycled water that meets all required and other threats visitor satisfaction is maximised. to identify and prioritise specific 70% utilisation rates during major physical, chemical and biological • event satisfaction ratings across the • a Wetlands Macrobenthic Survey – The Authority’s event extension maintenance and facility provision events. Special rail services and regional performance standards. full range of consumer events at assessing the abundance and activities seek to encourage people issues; to determine product bus operations were activated for nine the Park averaged over 85% Based on its successful performance diversity of macro invertebrates – to arrive early and stay later for development initiatives; and to inform major events at Telstra Stadium and for to date, the Authority has obtained was undertaken to give an major events, with flow-on effects • the annual Sydney Olympic Park strategic planning for the management the 14 days of the Royal Easter Show. permission from the NSW Department indication of the health of the of improved transport experience benchmark survey of Sydneysiders of open spaces, recreational areas and of Health to expand recycled water Park’s wetlands. The study showed and improved pre- and post-game indicated a 93% satisfaction level Park assets. Water Energy application for washing clothing, air- that the freshwater wetlands at atmosphere in the Park. with the Park experience conditioning cooling towers, playing the Park were generally healthy Sydney Olympic Park’s world class During 2004-05, nine major events fields, fountains and ornamental water recycling scheme (Water • a Bushbird Habitat study was were supported with pre- and post- water bodies. Reclamation and Management Scheme commenced. It will provide event extension activity including – WRAMS), has been in operation for information on which landscaping the provision of food, beverage and the past five years, supplying recycled Environment and practices are succeeding as bird entertainment experiences in the water to almost 6,000 Newington Ecosystems habitat and supporting bird public domain. residents and to all sporting and diversity.The study will also provide commercial facilities at Sydney Olympic Sydney Olympic Park has a strong recommendations to assist in the Park. It has saved over 2,700 million record in conducting environmental management of landscapes in litres of drinking water since its and ecological research studies and the Park. commencement in July 2000. undertaking projects in partnership with private organisations and The main purpose of these research The Authority is committed to ongoing educational institutions. Studies studies is to identify current and improvement in urban water undertaken in 2004-05 included: emerging issues and to facilitate management. During the year the an adaptive management approach Authority used a total of 610 megalitres • a Saltmarsh Health study by a for long-term conservation and of water for operational purposes. Of Masters research student from the sustainable use of the increasingly this, only 4% was sourced from Sydney University of NSW. Sydney Olympic popular parklands. Water’s potable water system, with the Park’s saltmarsh was included in a remainder obtained from the study of saltmarsh communities More detailed information on Authority’s water recycling plant (33%) along the Parramatta River and was environmental monitoring and and from on-site stormwater found to be the healthiest of all management can be found in the harvesting ponds (63%). communities studied Authority’s 2004-05 State of the Environment Report. In June 2005 the Authority • development of a Mangrove commissioned an additional facility Ecosystem Model by a PHD student that will increase on-site sewage from Macquarie University.The treatment to 3.1 million litres of sewage model examines past ecological per day. Recycled water is produced changes and predicts future using emerging technologies in the wetland changes. The information areas of biological treatment, will assist wetland managers to The Park’s 425 hectares of parklands are perfect for recreation and relaxation

22 Managing the Park Managing the Park 23 Managing the Park

Partnership Building • facilitated meetings of the Solar Cities Bid Homebush Bay Bridge Steering In November 2004 the Authority and Collaboration Committee comprising established a consortium called representatives of Auburn with Community, 'Brighter Future' to participate in the and Canada Bay Councils, NSW Federal Government's 'Solar Cities Trial'. Industry and Maritime Authority, Department of A nine year, $75 million program Infrastructure, Planning and Natural Government managed by the Australian Greenhouse Resources and Billbergia Pty Ltd Office (AGO), Solar Cities will be The Authority maintains close working to investigate the proposal to established in at least four locations relationships with surrounding construct a new pedestrian and across Australia to collaborate in communities, the parks industry cycle bridge across Homebush Bay and local councils. During 2004-05, developing and demonstrating district the Authority: • participated as a major event based renewable energy systems. sponsor of the Western Sydney The Brighter Future bid leverages • maintained membership of, and Business Connection; sponsored Sydney Olympic Park's unique national played an active role in, the Healthy and judged the Auburn Council and international standing as a Parks, Healthy People initiative of 2004 Auburn Local Business destination recognised for sustainable the Sydney Urban Parks Education Awards; participated in the Western design excellence and environmental and Research (SUPER) Group to Sydney Business Awards as a joint innovation. Led by the Sydney Olympic encourage greater participation and gold sponsor of the Excellence in Park Authority, the Brighter Future visitation to Sydney’s public parks Innovation award category with consortium includes: Auburn Council, and gardens Parramatta City Council. EnergyAustralia, BP Solar, University of Visitors learn about the historical Newington Armory during an ‘Explore the Armory’ open day met regularly with the Newington • The Authority is a member of the New South Wales (UNSW), CSIRO, Residents Precinct Committee to Parramatta Chamber of Commerce University of Technology, Sydney (UTS), • creation of a new children’s consult with local residents on a Responding to Visitor and the Authority’s CEO Brian Newman Total Environment Centre,Westpac, playground at The Overflow range of issues Feedback and upgrade of some existing is also on the Boards of the Greater Greenbank Capital, Accor, and UNSW Western Sydney Economic College of Fine Arts. Our consortium Incremental enhancement is part of playgrounds in Bicentennial • worked with Birds Australia Development Board and the Sydney partners share the Authority's routine place management. During Park volunteers across Sydney to assist Convention and Visitors Bureau. aspirations for creating an innovative 2004-05, enhancements undertaken with the Park’s annual bird surveys • new board walk and deck facilities The Authority is also a member of business model for renewable energy. in the parklands and the urban core near watercourses in Bicentennial • signed a Statement of Cooperation the International Federation of Parks of Sydney Olympic Park in response Park with Auburn Council to support and Recreation Administration and to visitor feedback included: greater collaboration on • creation of new path connections at the Authority’s Executive Director Place • improved food and beverage development plans to enhance Management, Mr David Young sits Bicentennial Park and Wentworth current infrastructure and offerings and facilities at major Common on the Board of the Parks Forum Ltd, events amenities an industry based best practice park • implementation of the ‘Explore • made Wilson Park available to management organisation. • introduction of new tour product the Armory’ trial program to open initiatives Auburn Council for local sporting up Newington Armory to the club activities including soccer • improved signage in the parklands general public on a regular basis training and competitions including many interpretive signs • upgrade of water safety features • facilitated meetings of the Powells • installation of additional shade around Bicentennial Park including Creek Steering Committee structures and seating at Sydney more life-bouys, improved safety comprising representatives of Olympic Park Archery Centre signage and safety barriers near Canada Bay, Strathfield and Auburn deep water. • placement of mobile bicycle racks Councils and relevant State at major events agencies to guide project work in the Powells Creek Corridor • installation of additional bubblers in The Overflow

24 Managing the Park Managing the Park 25 Promoting the Park

Leisure Marketing Tours, environmental and public Kids in the Park education programs were delivered The Kids in the Park program ran during The Authority continued to encourage across the Park to a total of 23,279 the July and September 2004 and visitation through a new leisure visitors and the participation in January and April 2005 school holidays. advertising campaign ‘It’s a Beautiful tours increased by 110% over the It provides a cooperative marketing Day!’ and its ‘What’s On’ quarterly previous year. opportunity with on-site venues to campaign promoting Park events. promote kids’ clinics and sports Key Events programs as well as the free activity It’s a Beautiful Day! The Authority provided financial and marquee in The Overflow. Visitation In April 2005 the television commercial operational support to the staging of continues to rise, with over 35,000 kids ‘It’s a Beautiful Day’ featured in prime several key events designed to activate participating in clinics or visiting the time spots in the Sydney metropolitan and enliven the Park. For example: marquee during the 2004-05 program. area for seven weeks. Promoting the Park Sydney Festival Movies in The Overflow Its main objectives were to increase More than 40,000 people attended the Seasons nine and ten of the popular brand awareness, improve opening event for the 2005 Sydney Movies in The Overflow, in October Sydney Olympic Park Authority’s role is to build, understanding of what’s on offer Festival ‘The Lazy Kings’, which was held 2004 and January 2005, attracted over at Sydney Olympic Park, create an over three nights in January at Sydney 18,000 people to the two events. maintain and communicate the Park’s identity emotional connection to the Park, Olympic Park. It included an open air 3 increase visitation, and support aerial performance by France’s Transe Community Events and activities and enrich visitor experiences. continued commercial investment. Express and represented another The Authority has continued to develop, successful partnership with Sydney host and support events and activities Pre- and post-research of over 400 Festival Ltd following the joint that encourage local community Sydneysiders, to track changes in production of the highly acclaimed attendance and participation. unaided and aided awareness of outdoor performance of ‘Of Angels and For example: the facilities at Sydney Olympic Park, Light’ at Sydney Olympic Park in 2004. indicated significant growth in • Carols by the Cauldron – a free, awareness from the campaign. Overall, Music by Moonlight family and local community- Sydney’s Premier Cycling Destination 32% of the research sample maintained Over 18,000 visitors were treated to a orientated Christmas event with the television commercial made them cultural feast of fine food and music as over 2,000 attendees Sydney Olympic Park has over 35 km of cycleways Whether on bike or foot, the audio tours, which ‘more likely to visit’ the Park. part of a new outdoor series, Music by • Australia Day Citizenship Ceremony Moonlight, which was staged over four to meet the diverse cycling needs of children and operate via an MP3 player, give visitors a new The advertising campaign was a great and Celebrations – co-hosted by the weeks in February 2005. Highlights of beginners through to professional cyclists and is understanding and insight into the many success and resulted in a significant Authority and Auburn Council for the event included authentic Argentine well on the way to meeting its objective of different dimensions of the Park. increase in visitation for a number of local residents and surrounding tango music performed by the 34 becoming Sydney’s premier cycling destination. venues during and immediately after communities, attracted over In July 2005 the Hon. Sandra Nori, MP, Punaladas˜ and an exceptional evening the seven weeks. 5,000 people During 2004-05 the Authority continued to announced that the Park will host Sydney’s first of orchestral music from the 45-piece upgrade and launch three Bike Safari circuits, Festival of Cycling. The Festival, to be held in Public Events and Programs Sydney Symphony Orchestra (SSO), • Boulevard Market – a monthly introduced weekend and school holiday bike hire October, is the result of a collaborative effort by which attracted more than 7,000 produce and giftware market, with During 2004-05 the Authority facilities and implemented periodic opening of Sydney Olympic Park Authority, the Cycling people. The success of the SSO up to 1,000 attendees per month continued to deliver a comprehensive performance has led to the restricted areas of the Park such as the Promotion Fund, Bicycle New South Wales, • major cultural festivals including suite of public events, tours and establishment of an ongoing Newington Armory for cycling and walking. Bicycling Australia, Retail Cycle Traders Australia Arabic Carnivale, the India-Australia excursions, including 23 events in the partnership between the Authority and the Heart Foundation and is expected to Fair, the Deepevali Festival and the A new self-guided audio tour that provides public domain, resulting in 112,164 and the SSO. become a key annual event for the Park. visitors and 89 event days. Ritmo (Brazilian) Festival attracted visitors to the Park with a rich audio story about in excess of 30,000 visitors. the history, the achievements and the future The Authority’s Visitor Information plans for the precinct, is also now available. Centre was operational for 364 days of the year and provided information and advice to 122,765 visitors.

Top left A family enjoys one of Sydney Olympic Park’s new Bike Safari circuits

26 Promoting the Park Promoting the Park 27 Promoting the Park

exhibition at Sydney Olympic Park. A curriculum based education resource Business Events • winning the right to host the Over 10,500 people visited the document was also developed in Bicycling Australia Exhibition 2005 exhibition between February and June consultation with the Department of Sydney Olympic Park’s business events which will attract bicycling trade 2005 and it is expected that up to Education and Training and the Board market continued to experience high and thousands of visitors to the 30,000 people will visit the exhibition of Studies NSW.The Sydney Olympic growth during 2004-05, with the Park in October 2005 before it closes on 30 October 2005. Park exhibition was sponsored by number of new leads increasing to 887, Westbus and Harvey Norman Auburn. up 62% from 548 in 2003-04. 153 new • hosting the annual Hillsong A program of educational excursions, events were secured through the Convention for the third industry seminars and free public talks The exhibition was officially opened by centralised business events booking consecutive year, with record has been run in combination with the the Hon. Sandra Nori, MP,at an event service, valued at $3.7 million, up 63% attendance of 25,000 per day exhibition to enable school students, attended by the young artists, parents, from $2.2 million in 2003-04. This for five days interested general public and teachers and friends. Over the two success is attributed in part to the professionals to learn about the latest months, 4,000 people visited the • Event Management Catering, cooperative branding approach applied in environmentally sustainable design exhibition. the catering arm of the Sydney across Sydney Olympic Park’s nine and materials for homes and gardens. SuperDome scooped the venues and ninety function spaces. Over 3,500 secondary school students Website re-launch September 2004 NSW Restaurant Students learn about the wetlands environment during a school excursion program & Catering Awards by winning are pre-booked for participation in In December 2004, the Authority Business event highlights for 2004-05 Caterer at a Major Event and the Sporting Events and Sports Educational Events and curriculum-based excursions for re-launched its website to incorporate included: prestigious Caterer of the Year Term Three, 2005. a new vibrant design, a simplified Participation Programs • hosting Amway China over three award In addition to hosting major sporting Sydney Olympic Park continued to During 2004-05 the exhibition: navigation structure, an interactive weeks in January 2005 – attended events, the Authority also supported deliver events and programs across the events calendar and a superior content by 14,000 Amway delegates from • Sydney Showground won the • won the Royal Australian Institute key sporting events with sponsorship, school, professional, adult and general management system. This resulted in a China, the largest incentive group Catering and Banqueting Award for of Architects (NSW Chapter) Special marketing and promotions assistance. education markets. Key programs 98% increase in website visitation, with in Australia’s history its catering services in April 2005 at Jury Award which recognised its These included: included: over 750,000 visits to the site in 2004- the National Meetings & Events unique contribution to sustainable 05 compared to 380,000 in 2003-04. • hosting Dreamtime 2004, one Australia (MEA) Awards • Swimming – Australian Swimming • curriculum based school excursions design and environmental of Australia’s most prestigious 2 Championships and Qantas Skins for Kindergarten through to Year 12 innovation incentive travel events. The event • winning ‘Best Stand over 18 m ’at Swimming Meet in Human Society and Its brought over 130 incentive travel Sydney On Sale 2005, from over 170 • was a finalist in the 2005 Banksia Tourism Environment (HSIE), Geography, reward decision-makers from venues and suppliers exhibiting at • Athletics – Australian Athletics Environmental Foundation Awards Maths, Science, Biology, Sydney Olympic Park continued to work around the world to the Park from the Show. Championships and Australian for Environmental Education Environmental Education, Visual closely with industry partners such as 28 October until 2 November 2004 All-Schools Arts, Personal Development, Health • went on to win the Parramatta Tourism New South Wales and the • Handball – Pacific Cup and and Physical Education (PDHPE) Design Excellence Awards Sydney Convention and Visitors Bureau Australian Championships and Physical Activity and Sport and the Urban Design Institute to ensure the Park can capitalise on Studies (P.A.S.S.) Awards in August 2005 future growth and opportunities in • Volleyball – Australian Volleyball international business tourism. During League • Wetland Educational and Training • has been nominated for the 2004-05 the Authority: (WET) workshops that combine Australia Award and the • Gymnastics – Australian experiential learning with formal Public Sector Awards, to be • hosted over 34 international and Championships skills development in wetland announced in late 2005. interstate delegations of VIP and • 2005 Australian Olympic Youth ecology management. Participants technical visitors at Sydney Olympic ArtExpress at the Armory Festival include representatives from Park. The delegations came from From March to April 2005, the universities, all tiers of Government, China, India, Singapore, Thailand, Sydney Olympic Park home team Authority presented ArtExpress at • non-Government organisations Denmark, Germany and the United matches. the Armory in its new gallery space at and industry. Kingdom as well as from the Building 18, Newington Armory. It various states of Australia During the year, the Authority also was the largest ever metropolitan hosted two major exhibition programs: ArtExpress exhibition and showcased • assisted with product development, the talents of Higher School Certificate launch and promotion of Telstra Houses of the Future Visual Art students from across Stadium Explore – a new interactive Six award winning houses and Western Sydney.The exhibition tour product two unique gardens showcasing featured several hundred works by environmental innovation and • attended the 2005 World Expo in over 75 young artists which included sustainable design excellence were Aichi, Japan to promote the Park painting, sculpture, photography and officially opened in February 2005 and its tourism and educational new media. as part of the Houses of the Future programs. The Sydney Olympic Park award winning stand at ‘Sydney on Sale’ 2005

28 Promoting the Park Promoting the Park 29 Return on Investment

Commercial Leases Private and Corporate Site Hire Other venues under long-term lease In 2004-05, extensive interest from to the private sector include: and Contracts commercial businesses and the general Telstra Stadium public in site-hire for filming, corporate Sydney Olympic Park is now home Telstra Stadium recorded earnings gatherings, celebrations and private to 60 on-site businesses providing of $11.2 million before interest, tax events contributed $148,000. Filming advanced educational, sporting, and depreciation for the year ending 31 increased on a monthly average information technology, community December 2004. The Stadium is home basis by 110% and site hire by 100%, and communication services and retail to major Rugby Union, Rugby League compared with 2003-04. outlets. Over 4,000 staff commute and AFL fixtures played in NSW with to the site daily. Scouts Association Commercial Licence and Lease Fees crowds exceeding 50,000. The venue Australia NSW, Ben Q Australia and In excess of $8.71 million was collected reverts to Government ownership Transfield Services Australia were from commercial licence and lease fees. in 2031. among 16 new organisations that relocated to the Park during the year. Parking Sydney SuperDome Return on Investment Over 1.1 million vehicles parked on-site Sydney SuperDome was rated the Sydney SuperDome – PBL Welcomed in 2004-05 and parking revenue peaked number one entertainment venue at the Park at $8.25 million (up from $7.87 million in the world, bringing in more than Sydney Olympic Park Authority continues to generate In November 2004, the Hon. Sandra in 2003-04). The increased revenue $30 million in ticket sales during the economic activity and returns for the people of NSW. Nori, MP,welcomed Publishing and reflected greater visitation to Sydney first six months of 2005. The venue 4 Broadcasting Limited (PBL) as the new Olympic Park. hosted 22 international acts including operator of the Sydney SuperDome at the Eagles, Andrea Bocelli, Green Day, Sydney Olympic Park. PBL is the owner Asset and Venue Neil Diamond and Rod Stewart.World of the Nine Network, Australian Management record crowds for Netball were also Consolidated Press, Ticketek, the Crown achieved during the year.The venue and Burswood Casinos and part owner The Authority is responsible for funding reverts to Government ownership of Foxtel. operations and managing the assets in 2031. of Government owned venues. Agreements with Royal Agricultural Sydney International Tennis Centre Generating Economic Activity and Delivering Returns Society (RAS) Sydney Olympic Park Sports Centre, The Sydney International Tennis Centre Specific agreements with the RAS were Hockey Centre and Sports Halls continues to expand its tournaments Sydney Olympic Park plays a vital role in hosting sources including car parking revenue, property negotiated to allow sections of Olympic The State Sports Centre Trust is and casual use and currently hosts iconic sporting and entertainment events and rentals and commercial interests. It will continue Boulevard and Australia Avenue, The responsible for the day-to-day more tennis tournaments than any supports the State’s ability to host national and to seek opportunities to increase this percentage Overflow, The Horse Exercise Trail in management of these facilities with other tennis venue in Australia. international events that reinforce Sydney’s by improving its revenue base and reducing costs, the parklands, and the Exhibitor Parking a budgeted net operational cost to The venue reverts to the Authority in profile and the realisation of economic benefits where this can be achieved without undue Area to be used for the Royal Easter Government of $700,000 per annum. 2024 subject to three five-year options Show. for the NSW Government. impact to service levels. Operations were managed to budget available to the lessee. with substantial increases in venue use. Commercial Office Leases For example, in 2004-05, major events held at By 2010 the Authority aims to increase annual Sydney Showground During 2004-05 Sport Knowledge Sydney Olympic Park Aquatic and The Sydney Showground hosts the the Park, with daily attendances exceeding visitation to 10 million people and by 2015 to Australia and Community Cultural Athletic Centres Royal Easter Show, the largest annual 40,000 people, included the Sydney Royal Easter generate approximately $200 million of revenue Development NSW have signed leases The Sydney Cricket Ground Trust event in NSW.The Easter Show provides Show, the Bledisloe Cup, a State of Origin rugby from land and property sales and facilitate to occupy parts of the Vernon Heritage is responsible for the day-to-day $460 million of quantifiable indirect league match, the National Rugby League Final $2 billion of private sector investment in the Park. Buildings. Specialised renovations management of these facilities with economic contributions to the NSW Series and the Grand Final, Big Day Out and two These targets will improve economic and social designed to retain the heritage nature a budgeted net operational cost to economy.The Showground is also host Australian Football League finals matches. returns to NSW and generate increased revenue of the sites were undertaken prior Government of $2.5 million.While to a thriving public and trade exhibition for the Authority, resulting in less reliance on to occupation. the Centres were unable to achieve business as well as outdoor concert The Authority currently covers 42% of its budget funding from NSW Treasury in the future. budget, increased patronage of school events such as the Big Day Out and operating expenditure from sustainable income carnivals for swimming and athletics NRL sporting fixtures. was achieved during the year.

Top left Visitors enjoy a ride at the Royal Easter Show, the largest annual event in NSW

30 Return on Investment Return on Investment 31 INDEPENDENT AUDIT REPORT Sydney Olympic Park Authority, 7 Figtree Drive, Sydney Olympic Park NSW 2127 Sydney Olympic Park Authority To Members of the New South Wales Parliament

Audit Opinion In my opinion, the financial report of the Sydney Olympic Park Authority: SYDNEY OLYMPIC PARK AUTHORITY (a) presents fairly the Authority’s financial position as at 30 June 2005 and its financial performance and cash flows for the year ended on that date, in accordance with applicable Accounting Standards and other mandatory professional reporting Financial Statements for the Year Ended 30 June 2005 requirements in Australia, and (b) complies with section 41B of the Public Finance and Audit Act 1983 (the Act). My opinion should be read in conjunction with the rest of this report.

Pursuant to Section 41C(1B) and (1C) of the Public Finance and Audit Act 1983, we The Board’s Role declare that in our opinion: The financial report is the responsibility of the members of the Board of the Sydney Olympic Park Authority. It consists of the statement of financial position, the statement of financial performance, the statement of cash flows and the accompanying notes.

1. The accompanying financial statements exhibit a true and fair view of the The Auditor’s Role and the Audit Scope Authority’s financial position as at 30 June 2005 and transactions for the year As required by the Act, I carried out an independent audit to enable me to express an opinion on the financial report. My audit then ended. provides reasonable assurance to Members of the New South Wales Parliament that the financial report is free of material misstatement. My audit accorded with Australian Auditing and Assurance Standards and statutory requirements, and I: 2. The statements have been prepared in accordance with the provisions of the • evaluated the accounting policies and significant accounting estimates used by the Board in preparing the financial report, and Public Finance and Audit Act 1983, the Public Finance and Audit (General) • examined a sample of the evidence that supports the amounts and other disclosures in the financial report. Regulation 2000, the Treasurer’s Direction and the directives of the Financial Reporting Code. An audit does not guarantee that every amount and disclosure in the financial report is error free. The terms ‘reasonable assurance’ and ‘material’ recognise that an audit does not examine all evidence and transactions. However, the audit procedures used should identify errors or omissions significant enough to adversely affect decisions made by users of the financial report or indicate that the Board members had not fulfilled their reporting obligations. Further, we are not aware of any circumstances which would render any particulars included in the financial statements to be misleading or inaccurate. My opinion does not provide assurance: • about the future viability of the Authority, • that it has carried out its activities effectively, efficiently and economically, or • about the effectiveness of its internal controls. • on the assumptions used in formulating the budget figures disclosed in the financial report. D Richmond AO B Newman Audit Independence Chairman Chief Executive Officer The Audit Office complies with all applicable independence requirements of Australian professional ethical pronouncements. The Act further promotes independence by: • providing that only Parliament, and not the executive government, can remove an Auditor-General, and • mandating the Auditor-General as auditor of public sector agencies but precluding the provision of non-audit services, thus 18 October 2005 ensuring the Auditor General and the Audit Office are not compromised in their role by the possibility of losing clients or income.

P J Boulous CA Acting Assistant Auditor General SYDNEY 20 October 2005 Tel +61 2 9714 7300 Fax +61 2 9714 7818 www.sydneyolympicpark.nsw.gov.au ABN 68 010 941 405

32 Financial Report Financial Report 33 Statement of Financial Performance Statement of Financial Position for the year ended 30 June 2005 as at 30 June 2005

Notes Actual Budget Actual Notes Actual Budget Actual 2005 2005 2004 2005 2005 2004 $’000 $’000 $’000 $’000 $’000 $’000 Expenses ASSETS Operating expenses Current Assets Employee related 2(a) 15,468 14,208 15,533 Cash 9, 15 31,762 32,667 28,305 Receivables 10 19,782 23,438 23,002 Other operating expenses 2(b) 244,995 31,254 34,179 Inventories 11 107 62 62 Maintenance 11,012 10,036 11,848 Other 12 279 0 0 Depreciation and amortisation 2(c) 34,918 43,550 43,018 Total Current Assets 51,930 56,167 51,369 Grants and subsidies 2(d) 3,640 5,351 3,787 Total Expenses 310,033 104,399 108,365 Non-Current Assets Receivables 10 35,049 32,585 51,202 Less: Inventories 11 15,099 15,329 14,579 Retained Revenue Other financial assets 13 0 0 0 Sale of goods and services 3(a) 17,786 17,956 17,346 Property, plant and equipment Investment income 3(b) 4,622 5,186 2,787 Land and buildings 775,101 1,083,281 1,093,283 Retained fees and fines 3(c) 347 300 393 Plant and equipment 47,795 94,370 94,304 Grants and contributions 3(d) 421 455 615 Infrastructure systems 392,135 388,263 412,849 Other revenue 3(e) 23,412 1,074 70,359 Total property, plant and equipment 14 1,215,031 1,565,914 1,600,436 Total Retained Revenue 46,588 24,971 91,500 Investments in associates 16 988 0 0 Other 12 286,413 484,629 484,629 (Loss) on disposal of non-current assets 4 (398,840) 0 (9) Total Non-Current Assets 1,552,580 2,098,457 2,150,846 Total Assets 1,604,510 2,154,624 2,202,215 Net Cost of Services 24 662,285 79,428 16,874 LIABILITIES Government Contributions Current Liabilities Recurrent appropriation 6(a) 36,265 36,265 40,319 Payables 17 9,224 11,661 12,110 Capital appropriation 6(b) 11,839 11,839 12,850 Provisions 18 3,925 1,191 2,076 (Asset sale proceeds transferred to the Crown Entity) (19,040) (19,040) (20,694) Other 19 1,651 2,192 1,207 Acceptance by the Crown Entity of employee Total Current Liabilities 14,800 15,044 15,393 benefits and other liabilities 7 1,758 742 1,534 Non-Current Liabilities Total Government Contributions 30,822 29,806 34,009 Provisions 18 222 1,689 177 SURPLUS/(DEFICIT) FOR THE YEAR FROM ORDINARY ACTIVITIES 20 (631,463) (49,622) 17,135 Total Non-Current Liabilities 222 1,689 177 Total Liabilities 15,022 16,733 15,570 Net increase in asset revaluation reserve 14 34,306 0 248,274 Net Assets 1,589,488 2,137,891 2,186,645 TOTAL REVENUES, EXPENSES AND VALUATION ADJUSTMENTS RECOGNISED DIRECTLY IN EQUITY 34,306 0 248,274 EQUITY Reserves 20 282,580 248,274 248,274 TOTAL CHANGES IN EQUITY OTHER THAN THOSE RESULTING Accumulated funds 20 1,306,908 1,889,617 1,938,371 FROM TRANSACTIONS WITH OWNERS AS OWNERS (597,157) (49,622) 265,409 Total Equity 1,589,488 2,137,891 2,186,645 The accompanying notes form part of these statements. The accompanying notes form part of these statements.

34 Financial Report Financial Report 35 Summary of Compliance with Statement of Cash Flows Financial Directives for the year ended 30 June 2005 for the year ended 30 June 2005

Notes Actual Budget Actual 2005 2005 2005 2004 $’000 $’000 $’000 Recurrent Expenditure Capital Expenditure Appropriation Net Claim on Appropriation Net Claim on CASH FLOWS FROM OPERATING ACTIVITIES Consolidated Consolidated Fund Fund Payments $'000 $'000 $'000 $'000 Employee related (14,657) (13,556) (14,643) ORIGINAL BUDGET APPROPRIATION/ Grants and subsidies (3,640) (5,351) (4,166) EXPENDITURE Other (53,166) (45,193) (65,693) Appropriation Act 38,205 36,144 9,778 11,839 Total Payments (71,463) (64,100) (84,502) Additional Appropriations 121 121 0 0

Receipts Transfers (2,061) 0 2,061 0 Sale of goods and services 37,055 38,467 38,414 Total 36,265 36,265 11,839 11,839 Retained taxes, fees and fines 347 300 393 OTHER APPROPRIATIONS/EXPENDITURE Interest received 1,646 1,953 1,409 Treasurer's Advance 0 0 0 0 Other 22,103 7,835 27,287 Total 0 0 0 0 Total Receipts 61,151 48,555 67,503 Total Appropriations/Expenditure (includes Transfer Payments) 36,265 36,265 11,839 11,839 Cash Flows From Government Amount drawn down against Recurrent appropriation 6 36,265 38,205 40,319 Appropriation 36,265 11,839 Capital appropriation 6 11,839 9,778 12,850 Liability to Consolidated Fund 0 0 Asset sale proceeds transferred to the Crown Entity (19,040) (19,040) (20,694) Cash reimbursements from the Crown Entity 874 742 760 2004 Net Cash Flows From Government 29,938 29,685 33,235 ORIGINAL BUDGET APPROPRIATION/ NET CASH FLOWS FROM OPERATING ACTIVITIES 24 19,626 14,140 16,236 EXPENDITURE Appropriation Act 42,620 40,259 10,789 12,850 CASH FLOWS FROM INVESTING ACTIVITIES Additional Appropriations 0 0 0 0 Purchases of land and buildings, plant and equipment and infrastructure systems (16,169) (9,778) (21,394) Transfers (2,061) 0 2,061 0 NET CASH FLOWS FROM Total 40,559 40,259 12,850 12,850 INVESTING ACTIVITIES (16,169) (9,778) (21,394) OTHER APPROPRIATIONS/EXPENDITURE Treasurer's Advance 60 60 0 0 NET INCREASE/(DECREASE) IN CASH 3,457 4,362 (5,158) Total 60 60 0 0 Opening cash and cash equivalents 28,305 28,305 33,463 CLOSING CASH AND CASH EQUIVALENTS 9 31,762 32,667 28,305 Total Appropriations/Expenditure (includes Transfer Payments) 40,619 40,319 12,850 12,850 The accompanying notes form part of these statements. Amount drawn down against Appropriation 40,319 12,850

Liability to Consolidated Fund 0 0

The Summary of Compliance is based on the assumption that Consolidated Fund moneys are spent first (except where otherwise identified or prescribed).

36 Financial Report Financial Report 37 Notes to the Financial Statements

1. Summary of Significant Except for certain investments, land (ii) Sale of Goods and Services Long service leave is measured on a • receivables and payables are stated Each class of physical non-current Accounting Policies and buildings, plant and equipment, Revenue from the sale of goods and present value basis. The short-hand with the amount of GST included. assets is revalued every five years and and infrastructure systems, which are services comprises revenue from the method is based on the remuneration with sufficient regularity to ensure that (a) Reporting Entity (g) Acquisitions of Assets recorded at fair value, the financial provision of products or services i.e. rates at year end for all employees with the carrying amount of each asset in The cost method of accounting is Sydney Olympic Park Authority (the statements are prepared in accordance user charges. User charges are five or more years of service. It is the class does not differ materially from used for the initial recording of all Authority) was established in 2001 and with the historical cost convention. recognised as revenue when the considered that this measurement its fair value at reporting date. The last technique produces results not acquisitions of assets controlled by revaluation for land and buildings and took over the previous responsibilities All amounts are rounded to the nearest agency obtains control of the assets materially different from the estimate the Authority. Cost is determined as plant and equipment was completed of the Olympic Co-ordination Authority one thousand dollars and are expressed that result from them. Rent revenue is determined by using the present value the fair value of the assets given as on 1 July 2003 by the State Valuation (OCA). in Australian currency. recognised in accordance with AAS 17 "Accounting for Leases". basis of measurement. consideration plus the costs incidental Office and the last valuation for The reporting entity is consolidated as (c) Revenue Recognition to the acquisition. Infrastructure Systems was completed The superannuation expense for the part of the NSW Total State Sector (iii) Investment Income on 1 July 2004 by the Department of Revenue is recognised when the agency financial year is determined by using Assets acquired at no cost, or for Accounts. Commerce, based on an independent has control of the good or right to Interest revenue is recognised as it the formula specified in the Treasurer’s nominal consideration, are initially assessment. (b) Basis of Accounting receive, it is probable that the economic accrues. Directions. The expense for certain recognised as assets and revenues benefits will flow to the agency, and The Authority was established as a (d) Employee Benefits and Other superannuation schemes (i.e. Basic at their fair value at the date of Non-specialised assets with short the amount of revenue can be statutory body. However, it prepares its Provisions Benefit and First State Super) is acquisition. See also assets transferred useful lives are measured at measured reliably. financial statements in accordance calculated as a percentage of the as a result of an administrative depreciated historical cost, as a (i) Salaries and Wages, Annual Leave, with the Financial Reporting Code as Additional comments regarding the employees’ salaries. For other restructure. Refer Note 1(s). surrogate for fair value. Sick Leave and On-costs superannuation schemes (i.e. State directed by the Treasurer. accounting policies for the recognition Fair value means the amount for which When revaluing non-current assets by Liabilities for salaries, wages and Superannuation Scheme and State of revenue are discussed below. an asset could be exchanged between reference to current prices for assets The Authority’s financial statements are annual leave are recognised and Authorities Superannuation Scheme), a knowledgeable, willing buyer and a newer than those being revalued a general purpose financial report (i) Parliamentary Appropriations and measured in respect of employees’ the expense is calculated as a multiple knowledgeable, willing seller in an (adjusted to reflect the present which has been prepared on an Contributions from Other Bodies services up to the reporting date at of the employees’ superannuation condition of the assets), the gross accruals basis and in accordance with: nominal amounts based on the contributions. arm’s length transaction. Parliamentary appropriations and amount and the related accumulated amounts expected to be paid when (h) Plant and Equipment • applicable Australian Accounting contributions from other bodies (e) Insurance depreciation is separately restated. Standards (AAS) (including grants and donations) are the liabilities are settled. Plant and equipment costing $5,000 The Authority’s insurance activities are Otherwise, any balances of other authoritative generally recognised as revenues when Unused non-vesting sick leave does and above individually are capitalised. • primarily conducted through the NSW accumulated depreciation existing at pronouncements of the Australian the agency obtains controls over the not give rise to a liability as it is not Treasury Managed Fund Scheme (TMF) (i) Revaluation of Physical the revaluation date in respect of those assets comprising the considered probable that sick leave Accounting Standards Board (AASB) of self-insurance for Government Non-Current Assets assets are credited to the asset appropriations/contributions. Control taken in the future will be greater than • Urgent Issues Group (UIG) agencies. The expense (premium) is accounts to which they relate. The net over appropriations and contributions the benefits accrued in the future. Physical non-current assets are valued Consensus Views is normally obtained upon the receipt determined by the Fund Manager in accordance with the “Guidelines for asset accounts are then increased or • the requirements of the Public of cash. The outstanding amounts of payroll based on past experience. the Valuation of Physical Non-Current decreased by the revaluation tax, workers’ compensation insurance Finance and Audit Act 1983 and There are also minor commercial Assets at Fair Value” (TPP 03-02). This increments or decrements. An exception to the above is when premiums and fringe benefits tax, Regulations insurance arrangements in place for policy adopts fair value in accordance Revaluation increments are credited appropriations are unspent at year end. which are consequential to risks that, for commercial reasons, the with AASB 1041 from financial years directly to the asset revaluation reserve, • the Financial Reporting Directions In this case, the authority to spend the employment, are recognised as Authority has had to accept but for beginning on or after 1 July 2002. There except that, to the extent that an published in the Financial Reporting money lapses and generally the liabilities and expensed where the is no substantive difference between increment reverses a revaluation Code for Budget Dependent unspent amount must be repaid to the employee benefits to which they which the TMF is unable to provide the fair value valuation methodology decrement in respect of that class of General Government Sector Consolidated Fund in the following relate have been recognised. protection. asset previously recognised as an Agencies or issued by the Treasurer financial year. As a result, unspent (f) Accounting for the Goods and the previous valuation (ii) Long Service Leave and expense in the surplus/deficit, the under section 9(2)(n) of the Act. appropriations are accounted for as and Services Tax (GST) methodology adopted in the NSW liabilities rather than revenue. Superannuation public sector. increment is recognised immediately as Where there are inconsistencies Revenues, expenses and assets are The Authority’s liabilities for long revenue in the surplus/deficit. between the above requirements, the recognised net of the amount of GST Where available, fair value is service leave and superannuation are legislative provisions have prevailed. except where: determined having regard to the Revaluation decrements are recognised assumed by the Crown Entity.The highest and best use of the asset on immediately as expenses in the In the absence of a specific Accounting Authority accounts for the liability as • the amount of GST incurred by the basis of current market selling surplus/deficit, except that, to the Standard, other authoritative having been extinguished resulting in the Authority as a purchaser that is prices for the same or similar assets. extent that a credit balance exists in pronouncements of the AASB or UIG the amount assumed being shown as not recoverable from the Australian Where market selling price is not the asset revaluation reserve in respect Consensus View, the hierarchy of other part of the non-monetary revenue item Taxation Office is recognised as of the same class of assets, they are available, the asset’s fair value is pronouncements as outlined in AAS 6 described as “Acceptance by the Crown part of the cost of acquisition of debited directly to the asset revaluation measured at its market buying price “Accounting Policies” is considered. Entity of Employee Benefits and Other an asset or as part of an item reserve. Liabilities”. of expense ie. the replacement cost of the asset’s remaining future economic benefits.

38 Financial Report Financial Report 39 Notes to the Financial Statements

Revaluation increments and (l) Leased Assets For non-current “other financial assets”, government department immediately Practical completion dates of the interest in the site at Moore Park decrements are offset against one revaluation increments and decrements prior to the restructure. In most Olympic Stadium and Sydney to facilitate the move. The RAS A distinction is made between finance another within a class of non-current are recognised in the same manner as instances this will approximate fair SuperDome occurred on 1 March 1999 administration building vests with the leases which effectively transfer from assets, but not otherwise. physical non-current assets. value. All other equity transfers are and 30 August 1999 respectively. Both RAS and is included in its balance sheet. the lessor to the lessee substantially all venues will revert to the Authority on All other buildings including all land Where an asset that has previously Refer Note 1(i). recognised at fair value. the risks and benefits incidental to expiry of the lease in 2031. is held as Non-Current Assets in the been revalued is disposed of, any (q) Major Repairs Funds (t) Payables ownership of the leased assets, and books of the Authority. This accounting balance remaining in the asset The Authority's share of the operating leases under which the lessor Under the terms of the lease between These amounts represent liabilities for treatment has been in place since the revaluation reserve in respect of that reversionary interest in the Olympic effectively retains all such risks and the Authority and the Royal Agricultural goods and services provided to the completion of the RAS buildings, where asset is transferred to accumulated Stadium and Sydney SuperDome is benefits. Society of New South Wales (RAS), the agency and other amounts, including the RAS Agreement to Lease has been funds. being recognised over the life of the Authority is required to maintain a interest. Interest is accrued over the treated by government as an operating Operating lease payments are charged lease. The valuation formula previously (j) Depreciation of Non-Current Major Repairs Fund (MRF). The MRF is period it becomes due. lease thus recognising the asset at to the Statement of Financial employed was based on the to be used for major repairs undertaken written down replacement cost. Physical Assets Performance in the periods in which (u) Budgeted amounts conventional discounting model. This to preserve and prolong the useful, Depreciation is provided for on a they are incurred. The budgeted amounts are drawn from approach was adopted in the absence This accounting treatment has been economic life span of the Royal straight-line basis for all depreciable (m) Receivables the budgets as formulated at the of a prescriptive accounting standard under review in recent financial years assets so as to write off the depreciable Agricultural Showground during on the calculation of emerging interest and raises complex interpretation of Receivables, other than those outlined beginning of the financial year and amount of each asset as it is consumed the lease term. in assets. the relevant accounting standards and in Note 1(v) Right to Receive, are with any adjustments for the effects of over its useful life to the Authority. NSW Treasury provides the Authority the terms of the Showground Lease recognised and carried at cost, based additional appropriations under s 21A, The Authority has received a draft with funding for major repairs of the agreement. In this financial year, the All material separately identifiable on the original invoice amount less a s 24, and/or s 26 of the Public Finance Treasury policy on accounting for the Sydney Olympic Park Aquatic and Authority will adopt Treasury Circular component assets are recognised and provision for any uncollectible debts. and Audit Act 1983. Private Provision of Public Infrastructure Athletic Centres. This MRF is to be used TC00/19, Accounting for Long-term depreciated over their shorter useful An estimate for doubtful debts is made The budgeted amounts in the (PPPI) which proposes that Emerging for major repairs undertaken to Leases of Land and Other Property and lives, including those components that when collection of the full amount is Statement of Financial Performance Assets be valued at the net present preserve and prolong the useful, will cease to recognise these assets. in effect represent major periodic no longer probable. Bad debts are and the Statement of Cash Flows are value of an annuity with interest, and economic life span of the Sydney maintenance. written off as incurred. generally based on the amounts that the up-front contributions be This change in accounting policy has Olympic Park Aquatic and Athletic recognised over the concession period resulted in a decrease of $403 million in Land is not a depreciable asset. disclosed in the NSW Budget Papers (n) Inventories Centres. (as adjusted above). However, in the using the annuity method. Given that Non-Current Assets - Property, Plant Depreciation rates for these asset Inventories are stated at the lower of The MRFs at reporting date are treated Statement of Financial Position, the the proposed changes would make a And Equipment, a decrease of $4.3 categories are: cost and net realisable value. The cost is material difference to the Authority's million in Reserves and a corresponding as restricted assets. Refer Note 15. amounts vary from the Budget Papers, Buildings including facilities and calculated using the weighted average carrying value of it's right to receive, the Loss on Disposal of Non-Current Assets • (r) Other Assets as the opening balances of the sporting venues cost method. proposed changes have been adopted of $398 million. Other assets including prepayments are budgeted amounts are based on 2%-20% per annum Non current inventories include this financial year. recognised on a cost basis. carried forward actual amounts i.e. per (x) Impact of Adopting Australian • Computer equipment property inventory for sale. the audited financial statements The impact of this change has resulted Equivalents to International Financial (s) Equity Transfers 25% per annum (o) Investments (rather than carried forward estimates). in a decrease of $213 million in Non- Reporting Standards The transfer of net assets between Current Assets – Other and a • Office equipment Equity accounting principles are applied (v) Right to Receive The Authority will apply the Australian agencies as a result of an corresponding expense in Other 20% per annum in accounting for the Authority's Equivalents to International Financial administrative restructure, transfer of In respect of those major Olympic Operating Expenses at the reporting Leasehold improvements investments in associates. Reporting Standards (AEIFRS) from • programs/functions and parts thereof Facility projects which were funded, date. Period of lease The Authority has been given approval developed and initially managed by the 2005-06. between NSW public sector agencies (w) Sydney Showgrounds – Change Infrastructure for the incorporation of the Parklands private sector, the Authority recognises The Authority has determined the • are designated as a contribution by in Accounting Treatment 2%-33% per annum Foundation. No transactions had taken owners by NSWTC 01/11 and are and values the ‘Right to Receive’ key areas where changes in accounting • Other plant & equipment place during the period ending 30 June recognised as an adjustment to included within Other Non-Current The Olympic Co-ordination Authority policies are likely to impact the 2%-20% per annum 2005. The Parklands Foundation will be “Accumulated Funds”. This treatment is Assets. These facilities, following (OCA) constructed new facilities for the financial report. Some of these impacts consolidated into the Authority's results completion of construction, will be fully Royal Agricultural Society at Sydney arise because AEIFRS requirements (k) Maintenance and Repairs consistent with Urgent Issues Group as at 30 June 2006. Abstract UIG 38 “Contributions by realised at the end of the agreed Olympic Park in 1998 as part of the RAS are different from existing AASB The costs of maintenance are charged (p) Other Financial Assets Owners Made to Wholly Owned Public contractual period. This move from Moore Park. The RAS were requirements (AGAAP). Other impacts as expenses as incurred, except where valuation/revaluation methodology given a 99-year lease (plus option) of are likely to arise from options in “Other financial assets” are generally Sector Entities”. they relate to the replacement of a provides that when ownership/control the Sydney Olympic Park Showgrounds AEIFRS. recognised at cost, with the exception Transfers arising from an administrative component of an asset in which case reverts to the Authority the cumulative including an Administration Centre, of T'Corp Hour-Glass Facilities and restructure between government the costs are capitalised and asset value recognised at that time will Exhibition Halls, Animal Pavillions Managed Fund Investments, which are departments are recognised at the depreciated. be equal to its written down and the Showground Arena. No measured at market value. amount at which the asset was consideration was paid by the RAS; replacement cost. recognised by the transferor however, the RAS surrendered their

40 Financial Report Financial Report 41 Notes to the Financial Statements

To ensure consistency at the whole of the transition may differ from the (y) Comparative Figures 2005 2004 Notes $’000 $’000 government level, NSW Treasury has estimated figures below because Where necessary, comparative figures advised agencies of options it is likely to of pending changes to the AEIFRS, have been adjusted to conform with 2. EXPENSES mandate for the NSW Public Sector. including the UIG interpretations changes in presentation in the current The impacts disclosed below reflect and/or emerging accepted practice in year. (a) Employee Related Expenses Treasury's likely mandates (referred their interpretation and application. Salaries and wages (including annual leave) 12,623 12,974 to as "indicative mandates"). The Authority's accounting policies Superannuation 1,193 1,073 Shown below are management's best may also be affected by a proposed Long service leave 547 442 estimates as at the date of preparing standard to harmonise standards with the 30 June 2005 financial report of the Government Finance Statistics (GFS). Workers' compensation insurance 204 116 However the impact is uncertain estimated financial impacts of AEIFRS Payroll tax and fringe benefit tax 901 928 on the Authority's equity and because it depends on when this 15,468 15,533 profit/loss. The Authority does not standard is finalised and whether it anticipate any material impacts on can be adopted in 2005-06. its cash flows. The actual effects of (b) Other Operating Expenses Auditors’ remuneration Reconcilitaion of Key Aggregates – audit or review of the financial reports 98 70 Insurance 991 931 Reconciliation of equity under existing Standards (AGAAP) to equity under AEIFRS: Asset management 3,241 3,605 30 June 1 July 2005** 2004* Adjustment in right to receive 1(v) 212,555 0 Notes $’000 $’000 Operating lease rental expense Total equity under AGAAP 1,589,488 2,186,645 – minimum lease payments 3,413 1,785 Adjustments to accumulated funds Write back asset revaluation reserve for investment properties 1 0 11,726 Provision for doubtful debts – Receivables 5 1,184 Adjustments to other reserves – Financial assets 1,941 1,564 Write back asset revaluation reserve for investment properties 1 0 (11,726) Bad debts 50 Total equity under AEIFRS 1,589,488 2,186,645 Administration 2,549 3,227 * = adjustments as at the date of transition **= cumulative adjustments as at date of transition plus the year ended 30 June 2005 Advertising 4,809 4,831 Activity and entertainment 2,364 1,873 Site services 9,746 10,898 Reconciliation of surplus/(deficit) under AGAAP to surplus/(deficit) under AEIFRS: Utilities 1,247 1,456 Consultancies 253 364 Year ended 30 June 2005 Notes $’000 Information technology 616 823 Surplus/(deficit) under AGAAP (631,463) Investment properties – depreciation 1 4,056 Other 1,162 1,568 Surplus/(deficit) under AEIFRS (627,407) 244,995 34,179 Based on the above, if AEIFRS were applied in 2004-05 this would decrease the Net Cost of Services from $662,285 to $658,229. (c) Depreciation and Amortisation Expenses Depreciation Notes to tables above – Land and buildings 8,902 13,542 1. Under AASB 140 Investment Property and Treasury's indicative mandates, investment property will be recognised at fair value. In contrast to their current treatment as property, plant and equipment, investment property recognised at fair value will not be depreciated and changes in fair value will – Plant and equipment 3,682 6,607 be recognised in the operating statement rather than the asset revaluation reserve. This means that any asset revaluation reserve balances relating to – Facilities 0 4,650 such property will be written back to accumulated funds. – Infrastructure systems 22,334 18,219 14 34,918 43,018

42 Financial Report Financial Report 43 Notes to the Financial Statements

2005 2004 2005 2004 Notes $’000 $’000 Notes $’000 $’000 (d) Grants and Subsidies 4. GAIN/(LOSS) ON DISPOSAL OF NON-CURRENT ASSETS Sydney Olympic Park Aquatic and Athletic Centres 2,840 2,990

Sydney Olympic Park Sports Centre 800 797 Gain/(Loss) on disposal of infrastructure systems 3,640 3,787 Written down value of assets disposed 14 (398,840) (9) Gain/(Loss) on disposal of non-current assets (398,840) (9) 3. REVENUES As a result of the change in the accounting treatment for the (a) Sale of Goods and Services Sydney Showgrounds the Authority recognised a loss on Operating lease income 4,425 4,715 disposal of Non-Current Assets of $398 million in 2004-05. Refer Note 1(w). Estate recoveries 3,364 3,185 Car parking income 8,225 7,868 Other 1,772 1,578 5. CONDITIONS ON CONTRIBUTIONS 17,786 17,346 Developer contributions 0 194 0 194 (b) Investment income The Authority has entered into land sales agreements on the condition Interest on bank 916 804 that a component of proceeds from sales will be attributed to the Interest on advances 1,941 1,564 provision of public infrastructure. The nature of this infrastructure is detailed in the Authority’s Developer Contribution Plan. Interest on T’Corp Hour-Glass cash facility 777 419 Share of net profit of associate 16 988 0 4,622 2,787 6. APPROPRIATIONS (a) Recurrent Appropriations (c) Retained Taxes, Fees and Fines Total recurrent drawdowns from Treasury Parking infringements 347 393 (per Summary of Compliance) 36,265 40,319 347 393 36,265 40,319

(d) Grants and Contributions (b) Capital Appropriations Tennis NSW 421 421 Total capital drawdowns from Treasury (per Summary of Compliance) 11,839 12,850 Developer contributions 5 0 194 421 615 11,839 12,850

(e) Other revenue Value of emerging interest of private sector 7. ACCEPTANCE BY THE CROWN ENTITY OF EMPLOYEE BENEFITS provided infrastructure 1(v) 13,972 53,984 AND OTHER LIABILITIES Sale of development rights 0 2,496 The following liabilities and/or expenses have been assumed by the Crown Entity: Management fees 0450 Superannuation 1,192 1,073 Recovery of doubtful debts 4,943 0 Long service leave 547 442 Other 1(q) 4,497 6,267 Payroll tax on superannuation 19 19 Major repairs funds 0 7,162 1,758 1,534 23,412 70,359

The Authority has entered into contracts for the sale and long-term lease for residential and commercial sites. Sale is however conditional on certain pre-sales and pre-commitments being achieved.

44 Financial Report Financial Report 45 Notes to the Financial Statements

2005 2004 2005 2004 Notes $’000 $’000 Notes $’000 $’000 8. PROGRAMS/ACTIVITIES OF THE AUTHORITY 11. CURRENT/NON-CURRENT ASSETS – INVENTORIES (a) Program – Administration Current Inventories Program Objective(s): Visitor Gateway stock 107 62 To establish Sydney Olympic Park as a vibrant cultural and community centre, and a significant regional sport, recreation 107 62 and tourism facility for the enjoyment of all visitors. Non-Current Inventories Program Description: Land held for sale at cost 15,099 14,579 To promote, develop, manage and maintain Sydney Olympic Park for the benefit of the New South Wales community. 15,099 14,579 (b) Program Statement – Expenses and Revenues The Authority operates as a single program. The expenses and 12. CURRENT/NON-CURRENT ASSETS – OTHER revenues of this program are as reflected in the Statement of Financial Performance. Current Assets Prepaid expenses 279 0 9. CURRENT ASSETS – CASH 279 0 Cash at bank and on hand 17,170 19,650 Deposits at call 14,592 8,655 Non-Current Assets 31,762 28,305 Right to receive – Telstra Stadium 150,913 281,091 Right to receive – Sydney SuperDome 135,500 203,538 10. CURRENT/NON CURRENT ASSETS – RECEIVABLES 1 (v) 286,413 484,629 Current Receivables Receivable from sale of land 16,153 15,315 13. NON-CURRENT ASSETS – OTHER FINANCIAL ASSETS Trade debtors 2,552 7,685 Non-Current Financial Assets Interest receivable 423 376 Advances receivable 12,000 12,000 GST receivable 1,952 3,500 Interest on advances 5,188 3,247 Accrued income 0 2,399 Less: Provision for doubtful debts (17,188) (15,247) Other 348 217 00 Less: Provision for doubtful debt (1,646) (6,490) 19,782 23,002

Non-Current Receivables Receivable from sale of land 35,049 51,202 35,049 51,202

46 Financial Report Financial Report 47 Notes to the Financial Statements

2005 2004 2005 2004 Notes $’000 $’000 Notes $’000 $’000 14. NON-CURRENT ASSETS – PROPERTY, PLANT AND EQUIPMENT 15. RESTRICTED ASSETS Land and Buildings Major repairs fund – Royal Agricultural Society of NSW 10,208 4,853 At Fair Value 857,795 1,203,631 Major repairs fund – Aquatic and Athletic Centres 2,301 2,687 Less Accumulated Depreciation 82,694 110,348 Developer contributions and sale proceeds 2,152 388 775,101 1,093,283 14,661 7,928 Plant and Equipment At Fair Value 80,866 141,252 Less Accumulated Depreciation 33,071 46,948 16. INVESTMENT IN ASSOCIATES – SPORT KNOWLEDGE AUSTRALIA 47,795 94,304 Carrying amount at start of year 0 0 Share of net profits for the year 988 0 Infrastructure Systems At Fair Value 530,119 463,507 Carrying amount at end of year 988 0 Less Accumulated Depreciation 137,984 50,658 The Authority, the University of Sydney and the University of Technology, 392,135 412,849 Sydney were the successful consortium for the establishment of an International Centre of Excellence for Sports Science and Management Total Property, Plant and Equipment at Net Book Value 1,215,031 1,600,436 (Sport Knowledge Australia). The investment in Sport Knowledge Australia is an equal share to each of the three parties. Retained Profit – Opening Balance 0 0 Reconciliation Profit from ordinary activities 3(b) 988 0 Reconciliation of the carrying amounts of each class of property, plant and equipment at the beginning and the end of the Retained Profit – Closing Balance 988 0 current financial year is set out below.

Land & Plant & Infrastructure Total Total 17. CURRENT LIABILITIES – PAYABLES Buildings Equipment Systems 2005 2004 $’000 $’000 $’000 $’000 $’000 Accrued salaries, wages and on-costs 77 483 Carrying amount at start of year 1,093,283 94,304 412,849 1,600,436 1,442,102 Creditors 10 25 Additions 4,124 828 9,894 14,846 13,369 Accrued expenses 9,137 11,602 Reclassifications 1,275 864 (2,938) (799) 0 9,224 12,110 Disposals (314,679) (44,519) (43,917) (403,115) (9) Disposals (Asset Revaluation Reserve) 0 0 4,275 4,275 0 Contribution to other NSW Agencies 0 0 0 0 (60,282) Net revaluation increment/(decrement) 0 0 34,306 34,306 248,274 Depreciation expense (8,902) (3,682) (22,334) (34,918) (43,018) Carrying amount at end of year 775,101 47,795 392,135 1,215,031 1,600,436

48 Financial Report Financial Report 49 Notes to the Financial Statements

2005 2004 Accumulated Asset Revaluation Notes $’000 $’000 Funds Reserve Total Equity 18. CURRENT/NON CURRENT LIABILITIES – PROVISIONS 2005 2004 2005 2004 2005 2004 $'000 $'000 $'000 $'000 $'000 $'000 Employee Benefits and Related On-costs 20. CHANGES IN EQUITY Annual leave 1,234 1,001 Balance at the beginning of the Other 331 267 financial year 1,938,371 1,981,518 248,274 0 2,186,645 1,981,518 1,565 1,268 Changes in Equity – Transactions with Owners as Owners Transfer of OCA Equity 0 0 0 0 0 0 Other Provisions Transfer to EnergyAustralia 0 0 0 0 0 0 Asset management and relocation 2,582 985 Total Provisions 4,147 2,253 Transfer to National Parks 0 (7,574) 0 0 0 (7,574) Transfer to Rail Infrastructure 0 (52,708) 0 0 0 (52,708) Total 0 (60,282) 0 0 0 (60,282) Aggregate Employee Benefits and Related On-costs Provisions – current 1,343 1,091 Changes in Equity – Other Than Transactions Provisions – non-current 222 177 with Owners as Owners Accrued salaries, wages and on-costs 17 77 483 Surplus/(deficit) for the year (631,463) 17,135 0 0 (631,463) 17,135 1,642 1,751 Increment/decrement on revaluation of: Land and buildings 0 0 0 248,274 0 248,274 Infrastructure systems 0 0 34,306 0 34,306 0 19. CURRENT LIABILITIES – OTHER Total (631,463) 17,135 34,306 248,274 (597,157) 265,409 Security deposits 426 100 Balance at the end of financial year 1,306,908 1,938,371 282,580 248,274 1,589,488 2,186,645 Other 1,225 1,107 1,651 1,207

50 Financial Report Financial Report 51 Notes to the Financial Statements

2005 2004 23. BUDGET REVIEW Notes $’000 $’000 (a) Net Cost of Services 21. COMMITMENTS FOR EXPENDITURE The actual net cost of services was $583 million higher than budget. The material variances are: (a) Capital Commitments • the adjustment in the calculation of the reversionary right for the Olympic Stadium and Sydney SuperDome of $213 million Aggregate capital expenditure for the acquisition of property (non-cash) development services contracted for at balance date and • the disposal of the Sydney Showgrounds with a net loss of $398 million (non-cash) as a result in the change in accounting not provided for: treatment Not later than one year 33 13 • the reduction in depreciation costs of $8.6 million (non-cash) mainly as a result of the Sydney Showgrounds disposal Total (including GST) 33 13 • the reversionery right for the Olympic Stadium and Sydney SuperDome of $14.0 million (non-cash) Aggregate capital expenditure for the acquisition of other • the recovery of doubtful debts $4.9 million. construction contracted for at balance date and not provided for: Not later than one year 4,456 956 (b) Assets and Liabilities Total Assets were $550 million below budget due to: Total (including GST) 4,456 956 • the adjustment in the calculation of the reversionary right for the Olympic Stadium and Sydney SuperDome (b) Other Expenditure Commitments of $199 million (non-cash) Aggregate other expenditure contracted for at • the disposal of the Sydney Showgrounds for $398 million as a result of the change in accounting treatment balance date and not provided for: • a revaluation increase in infrastructure systems of $38.6 million. Not later than one year 1,059 678

Total (including GST) 1,059 678 Total Liabilities were below budget by $1.7 million due to: (c) Operating Lease Commitments • reduced accrual levels of $2.4 million in payables Future non-cancellable operating lease rentals not • an increase in current provisions of $2.7 million is mainly attributable to office relocation costs of $1.4 million provided for and payable: • a decrease in non-current provisions of $1.5 million relating to the change in the treatment of the Major Repairs Funds. Not later than one year 1,460 1,903 Later than one year and not later than 5 years 92 1,411 (c) Cash Flows Net Cash Flows from operating activities are $5.5 million above budget due to: Total (including GST) 1,552 3,314 • an increase in employee related costs of $1.2 million resulting from a higher than expected pay increase The Authorities operating leases relate to property and motor vehicles. • the grant for the Aquatic and Athletic Centres Major Repairs Fund for $2.1 million has now been recognised The total expenditure commitments above include input tax credits of $660,000 ($451,000 in 2004) which are expected to within restricted cash be recovered from the Australian Taxation Office. • a decrease mainly in contract service provider costs of $1.9 million within other expenditure • an increase of $1.5 million in the sale of goods and services resulting from the the recovery of outstanding debts 22. CONTINGENT LIABILITIES AND CONTINGENT ASSETS • an increase in GST only receipts and payments. (a) Contingent Assets Residential land from a project delivery agreement is likely to be returned to the Authority. The estimated value of this land is in the order of $400,000.

(b) Contingent Liabilities There are a number of contractual arrangements involving possible future claims against the Authority. This includes asset replacement and maintenance works that may be required under existing agreements with potential maximum liability of $7 million. The Authority is seeking compensation for defective works. If successful, this action will result in a contingent asset in the order of $5 million. If unsuccessful, costs are not expected to exceed $1 million. The Authority has a liability for the Olympic Stadium and Sydney SuperDome only in the event of a natural disaster or a breach of contract by the Authority. In the event of a natural disaster the Authority would be responsible for the full cost of replacing the Stadium and Sydney SuperDome less any insurance recoveries by these venues. The possibility of either of these events occurring is considered remote.

52 Financial Report Financial Report 53 Notes to the Financial Statements

2005 2004 25. FINANCIAL INSTRUMENTS Notes $’000 $’000 Cash 24. RECONCILIATION OF CASH FLOWS FROM OPERATING ACTIVITIES Cash comprises cash on hand and bank balances within the Treasury Banking System. Interest is earned on daily bank balances TO NET COST OF SERVICES at the monthly average NSW Treasury Corporation (T'Corp) 11.00am unofficial cash rate adjusted for a management fee to Net Cash Used on Operating Activities 19,626 16,236 Treasury. Adjustment for Cash Flows from Government/Appropriations Receivables Recurrent appropriation (36,265) (40,319) All trade debtors are recognised as amounts receivable at balance date. Collectability of trade debtors is reviewed on an ongoing basis. Debts which are known to be uncollectible are written off. A provision for doubtful debts is raised when some doubt as to Capital appropriation (11,839) (12,850) collection exists. The credit risk is the carrying amount (net of any provision for doubtful debts). No interest is earned on trade Acceptance by the Crown Entity of employee entitlements and other liabilities (874) (760) debtors. The carrying amount approximates the net fair value. Adjustment for non-cash items Hour Glass Investment Facilities The Authority has investments in T'Corp’s Hour-Glass Cash Facilities. The Authority’s investments are represented by a number of Depreciation and amortisation (34,918) (43,018) units within the facilities. Each facility has different investment horizons and comprises a mix of asset classes appropriate to that Share of net profit of associates 988 0 investment horizon. T'Corp appoints and monitors the application of appropriate investment guidelines. Crown liabilities (884) (774) 2005 2004 Asset sale proceeds 3,725 4,625 The Authority’s investments are: $’000 $’000 Increase/(decrease) in right to receive 13,972 53,984 Cash Facility 14,592 8,655 Adjustment in right to receive (212,555) 0 14,592 8,655

Asset sale proceeds transferred to the Crown Entity 19,040 20,694 These investments are generally able to be redeemed with up to five business days notice (dependent on the facility). The value Asset sale proceeds (19,040) (20,694) of the investments held can decrease or increase depending upon market conditions. The value that best represents the maximum credit risk is the net fair value. The value of the above investments represents the Authority’s share of the value of the Provision for doubtful debts 10 1,184 underlying assets of the facility and is stated at net fair value. Net loss/(gain) on sale of plant and equipment (398,840) (9) (Increase)/decrease in receivables (4,025) (342) Bank Overdraft The Authority does not have a bank overdraft facility. (Decrease)/increase in payables 1,651 (741) (Decrease)/increase in employee provisions (297) 29 Trade Creditors and Accruals (Decrease)/increase in other current liabilities (1,760) 5,881 The liabilities are recognised for amounts due to be paid in the future for goods and services received, whether or not invoiced. Net Cost of Services (662,285) (16,874) Amounts owing to suppliers (which are unsecured) are settled in accordance with the policy set out in Treasurer’s Direction 219.01. If trade terms are not specified, payment is made no later than the end of the month following the month in which an invoice or a statement is received.

End of Audited Financial Statements

54 Financial Report Financial Report 55 Appendices

Appendix A – Financial revenue from operations, the Authority Each report was thoroughly Payment Performance Indicators paid a distribution of $19.04 million investigated with the following results: Trade Creditors Age Analysis at the end of each quarter Funds Granted to Non-Government to NSW Treasury from proceeds of • of three incidents not presented as Community Organisations land sales. It will continue to focus on Quarter ended Current Less than Between Between More than claims, two highlighted safety (within due date) 30 days overdue 30 & 60 days 60 & 90 days 90 days overdue Funds granted to non-Government increasing revenue from property rents hazards which are currently under overdue overdue community organisations during 2004- and commercial hiring, estate levies review by the Authority $$ $$$ 05 include CanTeen and North Ryde and car parking revenue, thus Rotary. contributing further to self-funding • one claim was passed on to another At 30 September 2004 683,357 38,386 0 4,449 0 of operations. party under the indemnity conditions Economic or Other Factors Affecting of a lease At 31 December 2004 400,973 1,607 4,840 45,078 1 An estimated $200 million in proceeds Achievement of Operational At 31 March 2005 779,319 180,537 16,161 4,207 98,698 Objectives will be generated from land sales over • three claims were denied because the next 10 years, with further the circumstances did not indicate At 30 June 2005 15,427 0 0 0 0 There were no significant economic or distributions paid to Treasury and any liability on the part of the other factors affecting the achievement investment allocated to income Authority of operational objectives during the producing assets. Trade Creditors Accounts paid on time within each quarter reporting year.The local market for • two significant claims ($200,000 Quarter ended Accounts paid Accounts paid Amount paid Total amount residential development slowed which The $11.8 million of Treasury funding and $322,000) were referred to on time on time on time paid will delay commencement of for capital works was invested in insurers/solicitors for attention and target% actual% $'000 $'000 residential development at Sydney improvements to the 425 hectare risk improvement measures are Olympic Park. A reasonable commercial parklands, including additional being developed to prevent landscaping and park facilities and the office market has helped the Park recurrences At 30 September 2004 95 92 23,685 25,295 commencement of the Brickpit Ring. secure its first major tenant for the • one minor incident was accepted as At 31 December 2004 95 91 17,982 18,980 town centre commercial sites. In driving our income sources harder a claim. Although small, this claim At 31 March 2005 95 92 36,731 37,688 Disclosure of Controlled Entity and targeting incremental reductions confirmed the potential for future in Treasury funding, the Authority aims similar incidents. Funding has been At 30 June 2005 95 92 30,994 32,165 There were no controlled entities held to demonstrate long-term allocated to eliminate the hazard. by Sydney Olympic Park Authority improvement in business performance No suppliers requested or were reasonably entitled to penalty interest for the year. during the reporting year. and sustainability. Significant Claims Settled Risk Issues Management Treasury Managed Fund Charges Real Estate Management During the year two significant claims Appendix B – Statutory Risk Management were settled: The Risk Manager continued to advise The Authority’s contribution to the Reports In 2004-05, the Authority implemented Risk Management Policy and Procedures • a claim for the cost of reinstatement other divisions of the Authority on risk Treasury Managed Fund (self-insurance the real estate module within its The Authority’s Financial policies Legal Change of two landslips totalling $612,341 at issues and to implement policies and arrangement) was $1,119,680 for 2004- Systems, Applications, and Products include a comprehensive Risk the Silverwater marker was accepted procedures to minimise the Authority’s 05, a 5% increase on the previous year. There were no changes in relation to (SAP) financial system. This module Management and Insurance Policy. by the Treasury Managed Fund. All risks. the Sydney Olympic Park Authority Act accounts for over 90% of invoices raised A detailed Risk Management Manual budget sector agencies are protected A major exercise was commenced or subordinate legislation during the through SAP and improves efficiency has also been developed. These by this Fund which provides a much to update the Authority’s indemnity reporting year. by reducing the need to create new documents are available in electronic wider coverage than is available from and insurance clauses in recurring invoices and run schedules form to all staff through the Authority’s Significant Committees commercial insurers. Commercial contracts/agreements that are computer system. Audit and Compliance Committee on an annual basis. It provides a more insurance policies generally exclude expected to be completed in the Addressed financial accounting, integrated property management New Incidents/Claims and landslip so, had the asset been first quarter of 2005-06. reporting and internal controls and system. Subsequent Action insured commercially, the cost of Detailed drafting guidelines and compliance issues. Funding Arrangements reinstatement would have needed to While the Authority proactively templates have been developed for Sydney Olympic Park Authority be funded by the Authority Gabrielle Kibble (Chair), David manages its risks, incidents do occur incorporation into the Authority’s Richmond, Chris Christodoulou, continues to receive the majority of from time to time and the Authority • the Authority was awarded damages, policies and procedures. John Coates (from May 2005). its funding from the NSW Government. responds positively and promptly to costs and interest totalling some In addition, the Authority provided The recurrent appropriation from them. $250,000 in a recovery action in the Planning and Development Committee input to the Department of Treasury for 2004-05 was $36.26 million During 2004-05, the Authority received NSW Court of Appeal. Commerce’s model construction Reviewed and evaluated strategic and ($40.32 million in 2003-04). 10 incident reports dating back to 2000. contracts used across the NSW planning initiatives and development Expenditure for 2004-05 was $62.56 These were either reported as Public Government. proposals for Sydney Olympic Park. million excluding depreciation. Liability claims against the Authority, Therefore, the Authority contributed to had the potential to become claims or David Richmond (Chair), Gabrielle 42% of its annual expenses from self- highlighted circumstances which could Kibble, Penelope Figgis (to May 2005), generated revenue. In addition to lead to future claims. John Coates (from May 2005), Jack Cowin (from May 2005), Brian Newman. 56 Appendices Appendices 57 Appendices

Parklands Advisory Committee Equal Employment Opportunity • exit questionnaires undertaken and Disability Action Plan NSW Action Plan for Women • representation by the Authority at Made recommendations to the Equal Employment Opportunity (EEO) provided to give staff the opportunity The Department of Ageing, Disability The following actions were taken in the Auburn Migrant Resource Centre Board regarding care, control and achievements in 2004-05 included: to give feedback on a range of and Home Care requires all relation to objectives in the Action Plan Open Day which brought together management of the parklands organisational issues including Government agencies to prepare a for Women: service providers in the local at Sydney Olympic Park. • the establishment of a Staff equity, career progression and Disability Action Plan that meets community Wellbeing Committee with • more than 50% of representatives on communication the requirements of Section nine Penelope Figgis (Chair), David representatives from each work area. the Staff Wellbeing Committee are • working with Macquarie University of the Disability Services Act 1993. Richmond, Brian Newman, Catherin The Committee will serve as a • opportunities made available for all women to provide placement opportunities Bull, Peter Duncan, Dinah Dysart, mechanism for seeking staff views staff to attend precinct events, where The Disability Action Plan 2002-05 for overseas students through a • women received 50% of approved Tony Fleming (represented by Jennifer and facilitate communication and demand exceeded the tickets is overseen by the Access Advisory three-month internship program Carter), Ian Lowe, Leigh Martin, available a ballot was held Committee and is managed by financial assistance for tertiary study feedback between staff and • working with the ethnic media on Irene Simms, Paolo Totaro. the Sustainability Unit, which management on staff welfare, • circulation of a bi-monthly internal • a number of young women attended awareness campaigns to ensure all coordinates its promotion, Access Advisory Committee amenity, workplace activities and Human Resource Management the Institute of Public Administration members of the community have dissemination, evaluation, monitoring Advised on the assessment and other general wellbeing issues Bulletin to all staff providing succinct Australia’s (IPAA) ‘Young Professionals access to information and products and measurement. A new Plan is management of access to Sydney (physical, social, emotional) information on effective HR practices. Breakfast’ offered at Sydney Olympic Park currently being prepared for 2006-08. Its purpose is to promote discussion Olympic Park by people with a disability. • a review, update and promotion of • staff attended one of the • supporting the Arabic Carnivale among staff and managers with a The existing Plan recognises the need Jean Halcrow (Chair), Ann Gibson, our Grievance Handling policy to Spokeswomen’s development days and strengthening the Authority’s view to improving the workplace for an organisation-wide approach to Glenn Redmayne, Luisa Ferronato, Digby ensure it is an appropriate position as a centre for cultural effectively work towards achieving an • Spokeswomen’s elections conducted Hughes, John Cormack. mechanism for the equitable and • various committees established with festivities with other significant accessible environment for visitors, and appointment of new timely resolution of staff grievances EEO group representation events such as the India-Australia Education Reference Panel residents and workers at Sydney Spokeswomen • fine-tuning of our policy for the Fair, the Deepevali Festival and the Provided independent conceptual • flexible working arrangements Olympic Park. It includes Priority Areas • flexible working arrangements were Prevention of Harassment, Vilification Ritmo (Brazilian) Festival and strategic advice to the Board and approved, including part-time work, for Action for individual functional approved to assist women who and Intimidation in the Workplace assisted the Authority to achieve its working from home and extended areas as well as clear, achievable balance family and work • underpinning the Carols by the which clearly sets out the Authority’s business objectives for education. leave of absence for family reasons priorities that can be readily measured responsibilities Cauldron Christmas event with a non-acceptance of such behaviours to demonstrate the Authority’s distinctive multicultural flavour Warren Grimshaw (Chair), David • literature and posters displayed to and steps to be taken where commitment to equitable and • continued representation of women Mazitelli, Kate Gunn, Graeme Watts, promote diversity, access and equity • hosting a monthly Boulevard Market allegations of this nature arise accessible service provision. on major committees and working Roger Holmes, Mary Lynne Pidcock. issues. which showcases multicultural food, In 2004-05 the Authority: groups • finalising of our Adjustment Policy art and craft. The monthly markets Design Review Panel Initiatives for 2005-06 for Persons with a Disability which • created a new and updated section • provision of work experience are promoted widely in the ethnic Provided an independent review of states the Authority’s commitment • Review of Corporate policies in on Disability Access on the opportunities across a range of areas press design proposals and the design to principles of adjustment and relation to application of equity Authority’s website for female tertiary and secondary process to achieve a cohesive, safe highlights ways adjustments can be principles school students. • providing an information stand at • held a wayfinding workshop the Auburn Festival to ensure local and legible public domain. made to ensure equity of access in all • Enhancement of the Performance Ethnic Affairs Priority Statement communities are aware of activities Chris Johnson (Chair), Catherin Bull, areas of employment Management system to incorporate • reviewed and endorsed new Sydney The Authority attaches high priority at Sydney Olympic Park Philip Thalis, Alec Tzannes, Darlene van a sharper focus on staff Olympic Park developments • regular meetings of the Access to the promotion of cultural diversity. der Breggan, James Weirick. developmental needs • supporting the Australia/Samoa Advisory Committee comprising • initiated a companion document to Initiatives undertaken during 2004-05 Rugby International with appropriate Arts Development Advisory Committee representatives from the Authority • Establishment of an Employee the Access Guidelines included: cultural theming in the surrounds of Assists the Board in ensuring that arts and peak disability groups Assistance Program available to all • carried out Access Audits and • collaborating with Auburn Council Telstra Stadium and culture play a key role in the staff and members of their • training made available to managers rectification programs of the natural in staging Australia Day 2005 development of the town by providing immediate family • hosting three performances of the on giving and receiving feedback and built environment celebrations and a Citizenship independent and expert strategic French Transe Express production of to assist with annual performance • Review of Staff Wellbeing Committee Ceremony within the Park. • implemented the Human Resources ‘The Lazy Kings’ as part of the 2005 advice. reviews under the Authority’s operations to ensure stated aims are Celebrations featured food, music Policy requiring the mainstreaming Sydney Festival. The free event, which Paolo Totaro (Chair), Dinah Dysart, Performance Management system being achieved and performance contributions from Julian Knowles, Dick Letts, Fergus of employment for people with diverse cultural groups launched the Festival, was attended • recruitment selection training which Linehan, Lex Marinos, Leon Parossien, • Appointment of new Women’s disabilities. by over 40,000 people included consideration of equity in • supporting a major Citizenship Tiffany Lee-Shoy, Jennifer Bisset/Kim Liaison Officer and conduct of advertising, shortlisting, interviewing Ceremony attended by the Governor • ensuring local communities are Spinks. Spokeswomen’s elections and selection General at the Sydney Olympic Park informed about leisure, sporting, and • Access issues to be included in Hockey Centre cultural activities/events at Sydney planning and fit-out of the new Olympic Park through the ‘What’s On’ Sydney Olympic Park Operations publication which is periodically sent Centre. to over 10,000 subscribers via mail and email

58 Appendices Appendices 59 Appendices

• including an ethnic communities The Authority carried out safety Appendix C – Capital Capital Works Program 2004-05 representative on the Parklands’ inspections of all its office Project Description Completion date Cost Advisory Committee accommodation and reviewed and Works and Environmental updated emergency plans for each Compliance Property development Works to facilitate major new property June 2005 $453,000 • ensuring the Authority workforce area. Regular emergency and safety developments at Sydney Olympic Park reflects the diversity within the Major Capital Works warden training was conducted as community. Visitor improvements Upgrading of the Visitor Gateway and development June 2005 $318,000 were emergency evacuations drills During 2004-05, key capital works of playgrounds in the Town Centre and Bicentennial projects undertaken throughout the Initiatives for 2005-06 for all premises. Park Park totalled $10.3 million. These • Host part of the Sydney Industrial Relations resulted in significant improvements Parklands Armory engineering services upgrade • Planting June 2005 $6,253,00 International Children’s Cultural and bicycle amenity works • Fitout of Building 18 for to the parklands amenity, additions to and Arts Festival which will involve There were no industrial disputes ArtExpress and Building 24 for the Community of during the year.The Authority key infrastructure and an important Artists • Brickpit Ring (design completed and over 1,000 performers from 15 maintains a positive relationship and program of asset replacement. construction commenced) countries open communication channels with Another significant project is the Asset replacement/renewal Planned replacement or renewal of elements of June 2005 $1,531,000 • Invite community groups to hold the Public Service Association (PSA). creation of a new passenger entrance major assets owned by the Authority cultural festivals/events at Sydney During the Easter Show period each to the eastern end of Olympic Park Olympic Park including the Minor capital works Other projects which support the achievement June 2005 $1,760,000 year, normal working arrangements Railway Station. The project is funded Bangladeshi and Filipino of the Authority’s corporate objectives, including for a small number of people are from the development contributions tennis court replacement works communities suspended and replaced by a seven day program and will cost $2.7 million. cycle of rostered shifts. An industrial Total capital works program $10,315,000 • Continue to engage with local ethnic Construction commenced in February for 2004-05 communities in Western and South arrangement with the PSA provided the 2005 and will be completed by the Western Sydney via ethnic media Authority with the required flexibility to end of 2005. meet the extraordinary demands of Water Management Other actions taken this year to reduce Government Energy Management • Participate in the Auburn Festival the Show period and ensured staff Memorandum of Understanding Nearly 22 megalitres of potable water solid waste included: Policy which features ethnic cultural were appropriately compensated. for Additional Planning Powers performances and exhibits and 388 megalitres of harvested storm The Authority provides an annual The Authority has signed a • 176 cubic metres of green waste from Salary Award increases were in line water were used within the Authority’s the site (eg branches, clippings) was Energy Consumption and Property • Stage an Australia Day 2006 event Memorandum of Understanding with with the Crown Employees (Public managed facilities, the public domain chipped and re-used on landscaped Holdings Report to the NSW Ministry of in partnership with Auburn Council the Department of Infrastructure, Sector – Salaries 2004) Award. and parklands. A total of 200 areas Energy and Utilities as required by the to celebrate the cultural diversity of Planning and Natural Resources for megalitres of water was sourced Government Energy Management The Authority also undertook a review the local community. additional planning powers to assist in from the Authority’s WRAMS (Water • topsoil and rocks removed from Policy. In 2004-05 an average of 20% of of the Sydney Olympic Park Visitor streamlining development applications Reclamation and Management projects were re-used on site the energy purchased by the Authority Services (State) Award 2002 in applying to land owned by the Scheme). In total 610 megalitres was derived from renewable sources. Occupational Health and Safety conjunction with the Australian • recycled content office paper was Authority.The supporting Delegations of water was used by the Authority This resulted in a significant decrease in The Authority arranged for on-site Workers Union and reported back used for all photocopying and were approved by the former Minister in 2004-05 compared to 835 megalitres greenhouse gas emissions. More Influenza vaccinations for all interested proposed amendments to the printing for Planning in 2004 and permit the in 2003-04. Detailed information on details about energy management can staff as a preventive strategy to protect Industrial Relations Commission. Authority to assess and/or determine water management and consumption • brochures produced by the Authority be found in the Authority’s 2004-05 employee health and minimise Agreement was also reached with a range of minor development types is contained within the 2004-05 State were printed on sustainable paper State of the Environment Report. disruptions to the workplace due the Union for a consent variation to subject to compliance with the current of the Environment Report produced using vegetable based inks the Award in relation to the calculation to illness. Master Plan and/or Parklands Plan of by Sydney Olympic Park Authority. of casual wage rates. Management. • used toner cartridges were recycled One medium term injury was recorded Waste Management and the proceeds donated to charity which required implementation of a Guarantee of Service Revaluation of Infrastructure Systems Waste production from visitor related • obsolete computer equipment was formal return to work program. A small Sydney Olympic Park Authority aims for Revaluation of the Authority’s site activities yielded 508,000 either auctioned or donated to number of minor injury and travel consistent excellence in the provision infrastructure systems valued at kilograms of waste in 2004-05, of charity groups for re-use. claims involving minimal lost time of information and customer services over $400 million was completed. which 78,000 kilograms was recycled. were also recorded. based on integrity, professionalism, The recycling rate (15.4%) is a slight (1%) respect, timeliness and openness. The Authority’s Occupational improvement on the 2003-04 result. Health and Safety Committee and The majority of recyclable material Occupational Health and Safety comprises lightweight packaging Management Coordination Committee materials such as plastic and met on a bi-monthly basis. aluminum drink containers.

60 Appendices Appendices 61 Appendices

Appendix D – Staffing The Chief Executive Officer oversaw as a company which will provide elite 2. Mr Terry Martin, Executive Director, • the development, on an • undertaking negotiations for Overview and progressed actions and strategies sports science and management Property, Senior Executive Service, owner/operator basis, of the owner/operator development of a in keeping with the organisation’s goal courses to national and international Level 5 WatervieW Convention Centre five star hotel in proximity to the Code of Conduct of developing and maintaining a world markets Period in Position: Full Year within Bicentennial Park which will town centre, and initiation of a class integrated township. also have facilities for a restaurant Request for Detailed Proposals for a Sydney Olympic Park Authority and its • 63% growth in the value of Business The Chief Executive Officer reported and cafe. The Centre which is 120-room budget accommodation staff are bound by the requirements These extended across a range of Events, and 62% growth in the that Mr Martin performed to a expected to be completed in hotel to cater for individuals and of the Public Sector Employment and disciplines and activities including number of Business Events held at competent level in 2004-05 and October 2005 will also house a family groups Management Act 2002, the Authority’s urban and parklands planning and Sydney Olympic Park progressed significant initiatives in Visitor Centre for the parklands at Code of Conduct and other relevant design, site development, parklands • strategic planning and development • establishment of a Parklands relation to the Authority’s property Sydney Olympic Park legislation applying to public enhancement, leisure and education modelling input to inform the Vision Foundation that will operate as an development agenda for Sydney employment. product development/implementation, • initiation of an Expression of Interest 2025 process, including examination independent not-for-profit company. Olympic Park. sustainability initiatives, business event process, and negotiations with of floor space yields and the mix of Recruitment and Training The Foundation will assist in growth, marketing and branding of These included: parties, for the development of an residential, commercial and other protecting, maintaining and Recruitment continued to be a the site, and event and venue international food venue and developments improving the Parklands and will • successful negotiation of issues significant activity in aligning the management. Bar/Bistro facility in the town centre Authority’s structure with its evolving promote their environmental, relating to the $100 million purchase • raising the development profile needs, with 27 positions advertised Significant outcomes/achievements recreational, historical, scientific, by Colonial First State Property of Sydney Olympic Park. in the year. during the year included: educational and cultural value of a site for the development and relocation of a major arm of the 2 In addition to externally sourced • the commitment of 32,000 m of • the staging of highly successful Commonwealth Bank’s Sydney training, the Authority conducted new office space within Sydney events by the Authority including operations internal training courses including Olympic Park, including the Carols by the Cauldron, Short Soup Induction Training, Probity Aspects relocation of a major part of the Cinema, Movies in The Overflow, of Contract Procurement and Commonwealth Bank’s Sydney Music by Moonlight, and Australia Management, Customer Service operations. These initiatives will bring Day celebrations. The Authority also Senior Executive Services (SES) Staffing Profile Training, Selection Committee Training, an additional 3,000 workers to facilitated the Sydney Festival SES level Males as at 30/6/05 Females as at 30/6/05 Vacant as at 30/6/05 and Records Management Training. Sydney Olympic Park performance of ‘The Lazy Kings’ Level 7 1 – – One employee was selected to • the ‘Get into Life’ campaign was • commencement of construction of participate in the Earthwatch successfully launched. By increasing the WatervieW Convention Centre Level 5 1 – – Fellowship Program which provided an awareness of the many within Bicentennial Park Level 4 1 – 1 offerings at Sydney Olympic Park it opportunity to undertake a field • implementation of early aspects of is expected to contribute to increased Level 3 – – 1 research project on Kangaroo Island. the ‘Arts and Culture Strategy’ with visitation, participation and use of Total 3 – 2 Earthwatch is a global environmental, the establishment of exhibition facilities not-for-profit organisation that and performance space as well as supports sustainable conservation • development and roll-out of leisure artists’ studios within the parklands. research. products to enliven the Park The Park also staged the largest Official Overseas Visits Undertaken by Sydney Olympic Park Authority Employees between One member of staff successfully including the ‘Bicycle Safari’, the Sydney metropolitan ArtExpress 1 July 2004 and 30 June 2005 completed a Graduate Diploma in ‘Explore’Tour, and the ‘Kids in the exhibition Duration Employee Destination Purpose Park’ vacation programs Public Administration as part of NSW • Expression of Interest for proposals Government’s Executive Development 01/12/04 to B. Bagshaw China NSW Government Trade Mission – marketing • endorsement by the Department to establish educational facilities at 03/12/04 educational and sports medicine Program and another staff member of Planning of the Authority’s Sydney Olympic Park finalised to go 08/12/04 to B. Bagshaw China Marketing educational business opportunities commenced this course during Vision 2025 to the market 2004-05. 10/12/04 • development of the Blaxland • visitation levels to Sydney Olympic 15/03/05 to D. Young New Zealand Participation in ‘Parks Forum’ Performance of Executive Officers Common – Newington Armory Park increased to more than 6.6 23/03/05 1. Mr Brian Newman, Chief Executive Master Plan which will increase million in the 2004 calendar year, up 17/04/05 to F. Hunt Japan Tourism NSW Japan Sales Mission Officer, Chief Executive Service, Level 7 recreational opportunities and from 6.1 million in the previous year 23/04/05 Period in Position: Full Year use of the Parkland’s area • consolidation and strengthening of 02/04/05 to B. Newman UK, Germany, Interests relevant to the future development and The Minister and Chairman reported • establishment of ‘Sport Knowledge business and working relationships 26/04/05 Switzerland, management of Sydney Olympic Park that Mr Newman performed to a high Australia’ in partnership with the with venue operators and other Park Holland, Dubai level in 2004-05. University of Sydney and the stakeholders, and with the Sydney 30/05/05 to M. Rosenberg Japan Presentation to Aichi World Expo University of Technology, Sydney, Olympic Park Business Association. 02/06/05

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Staff Numbers by Employment Basis Protected Disclosures Appendix E – Freedom Records Management and Corporate Information Management People from People whose People with The Protected Disclosures Act offers of Information Aboriginal racial, ethnic, language a disability protection to public officials who make The Records Management Unit people & ethno-religious first spoken People requiring Freedom of Information Requests registered 4,315 items in 2004-05, with Total Torres Strait minority as a child was with a work-related disclosures which concern corrupt Employment basis staff Respondents Men Women Islanders groups not English disability adjustment conduct, maladministration and serious For the period 1 July 2004 to 30 June an additional 975 registrations as part 2005 Sydney Olympic Park Authority of the Olympic Agencies Archiving Permanent full-time 108 103 61 47 0 12 16 3 0 or substantial waste of public money. received three requests under the Project. Games Records have been Permanent part-time 7 7 1 6 0 0 0 0 0 Within the Sydney Olympic Park Freedom of Information Act 1982 (FOI transferred to State Archives or will be Authority disclosures can be made to: Temporary full-time 20 19 8 12 1 1 1 3 2 Act). These were: destroyed on an annual basis as • the Chief Executive Officer retention periods expire. Temporary part-time 2 2 0 2 0 0 1 0 0 7 October 2004 The applicant sought documentation The upgrade of the Authority’s records Contract – SES 3 3 3 0 0 0 0 0 0 • the Executive Director, Corporate Services concerning any proposed development management system to the latest Total 140 134 73 67 1 13 18 6 2 of the Sydney Cricket Ground that version of TRIM Context was • the officer’s supervisor might increase the seating capacity of undertaken in May 2005 to allow No disclosures were reported during the facility. Access was provided to integration management of electronic Trends in the Representation of Equal Opportunity (EEO) Groups the year. relevant documentation, being a copy data with the records management of correspondence between Telstra system in accordance with legislative % of total staff Stadium and the Auditor General. requirements. Benchmark Credit Card Certification EEO Group or target 2002 2003 2004 2005 9 November 2004 Training was provided to relevant staff Credit card use within the Authority The applicant sought water usage by in electronic document management Women 50% 47% 50% 49% 48% has been in accordance with the Sydney Olympic Park Authority for the techniques. Aboriginal people and Torres Strait Islanders 2% 0% 0% 0% 0% Premier’s Memoranda and Treasurer’s period 1 January 02 to 30 October 04. Privacy Management People whose first language was not English 20% 10% 9% 12% 14% Directions. Access was provided to relevant documentation. In accordance with the Privacy People with a disability 12% 2% 0% 6% 4% Information Protection Act 1998, 10 February 2005 People with a disability requiring the Authority has developed a Privacy work-related adjustment 7% 1.7% 0% 1.5% 1.5% The applicant sought Multi-Use Arena Management Plan which has been (Sydney SuperDome) Project submitted to Privacy NSW.The Plan sets Agreement 31/10/97 and the Variation out the core business and functions of Deed 28/10/04. Determined as exempt. the Authority and refers to information Trends in the Distribution of EEO Groups In the preceding year (2003-04) two protection principles and procedures Distribution index FOI applications were received. for internal review. It includes a table Benchmark documenting the Authority’s processes EEO group or target 2002 2003 2004 2005 There was one request for Internal for handling personal information. Women 100 81 82 83 84 Review during 2004-05. On 30 March 2005 an internal review application No applications for review were Aboriginal people and Torres Strait Islanders 100 N/A N/A N/A N/A was received for the documents received during 2004-05. People whose first language was not English 100 N/A N/A N/A N/A concerning the Multi-Use Arena (Sydney SuperDome). Determined People with a disability 100 N/A N/A N/A N/A as exempt. People with a disability requiring work-related adjustment 100 N/A N/A N/A N/A Applications under the FOI Act must Notes: be in writing and accompanied by an 1. Staff numbers are as at 30 June. application fee of $30. Enquiries and 2. Excludes casual staff. applications should be referred to: 3. A Distribution Index of 100 indicates that the centre of the 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 Manager, Policies and Procedures 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 Sydney Olympic Park Authority concentrated at lower salary levels. The Distribution Index is automatically calculated by the software provided by the Office of the Director of 7 Figtree Drive Equal Opportunity in Public Employment (ODEOPE). Sydney Olympic Park NSW 2127 4. The Distribution Index is not calculated where EEO group or non-EEO group numbers are less than 20. Telephone:02 9714 7157 Facsimile: 02 9714 7151

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Appendix F – Consultancy Services Engaged Appendix H – Publications Consultant Total cost Description of service Publication Type Publication Name Purpose of Publication Hill PDA Pty Ltd $30,000.00 Vision 2025 Master Plan and Urban Reports Annual Report 2003-2004 Report to the Minister on Sydney Olympic Park Authority Design Advice operations and achievements for 2003-04 Total consultants over $30,000 $30,000.00 State of Environment Report on the environmental status and activities at the Park Report 2003-04 Total consultants under $30,000 $218,739.00 Vision 2025 Suite of documents to support a submission to Department Total consultants $248,739.00 of Infrastructure, Planning and Natural resources for progression of Vision 2025 Master Plan Newsletters Park News Quarterly newsletter distributed to key stakeholders, local Appendix G – Research and Development Costs businesses and Government Parklands Research Cost Aboriginal History & Quarterly newsletter for members of the Aboriginal History & Connections Newsletter Connections Program Urbanising Landscape as functioning ecosystems $28,000 Business Development Arts & Cultural Strategy Document outlining the Arts and Cultural Strategy for Hydrodynamic modelling for Haslams Creek $10,000 Brochures Sydney Olympic Park Wetlands risk study using burrowing crabs $15,189 Living Legacy Brochure Update of corporate brochure outlining the transition of the Park Constructed soil analysis and vegetation health studies $6,653 from the Sydney 2000 Olympic Games to today PhD study on saltmarsh – to be completed 2005 $0 Must See Product Manual On-site tours product manual for inbound and wholesale travel PhD study on endocrine acive compounds in sediment $0 operators Vegetation planting success, Wentworth Common $15,000 Business Events Suite of collateral to support Business Events sales activity Collateral Saltmarsh health study by Masters research student from The University of NSW $0 Consumer Brochures What’s On brochure Quarterly brochures outlining upcoming events at Sydney Mangrove ecosystem model by PhD student from Macquarie University $0 and Flyers Olympic Park Bushbirds habitat study $18,000 Specific event flyers To promote upcoming events at Sydney Olympic Park including Survey of migratory bird populations at Sydney Olympic Park $17,000 Boulevard Markets, Movies in The Overflow, Sydney Festival, sports events Total $109,842 Bike Safari guide Fold-out map and guide to cycling loops at Sydney Olympic Park Must See brochures Tri-annual brochure for intersate and international tourists promoting Sydney Olympic Park tours, events and activities Marketing/Visitor Experience Research Cost Kids in the Park brochures Quarterly brochures outlining upcoming Kids in the Park events Annual Consumer Benchmark Study $49,000 and activities at Sydney Olympic Park Business Audiences Brand Health Research $57,490 Integrated Open Space Services – Benchmark Park User Satisfaction Survey Program $15,600 Total $122,090

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Appendix I – Guide to Appendix J – Annual Abbreviations and Report Costs and Acronyms Accessing the Authority EEO – Equal Employment Opportunity Annual Report Design, Copywriting and Printing GFS – Government Finance Statistics Design and copywriting was HR – Human Resources completed in-house by Sydney HSIE – Human Society and its Olympic Park Authority. Editing and Environment proofreading AnneE Lawrence. IFRS – International Financial Printed on Mohawk’s Options Reporting Standards Recycled PC 100, 270gsm (cover) and 118gsm (internal pages) using IPAA – Institute of Public vegetable-based inks. Administration This paper is manufactured with MEA – Meetings Industry Association non-polluting Green Power electricity of Australia generated from wind power and NRL – National Rugby League using 100% Post Consumer waste fibre. NSWTC – New South Wales Treasury Circular Cost The total costs (such as fees for ODEOPE – Office of the Director of design, editing and printing) incurred Equal Opportunity in Public in the production of the report were Employmet $31,810. PASS – Physical Activity and Sport Studies Electronic Access The report is available in a non-printed PDHPE – Personal Development, format and may be accessed on the Health and Physical Education Sydney Olympic Park Authority website PSA – Public Service Association at www.sydneyolympicpark.com.au SES – Senior Executive Service Accessing Sydney Olympic Park Authority SKA – Sport Knowledge Australia Sydney Olympic Park Authority SOPA – Sydney Olympic Park Authority 7 Figtree Drive, SSO – Sydney Symphony Orchestra Sydney Olympic Park NSW 2127 Telephone: 02 9714 7300 TMF – Treasury Managed Fund Facsimile: 02 9714 7818 TPP – Treasury Policy and Guidelines Email: [email protected] Paper Website: Front Cover Images UIG – Urgent Issues Group www.sydneyolympicpark.nsw.gov.au Top Artists’ impression of the upgraded eastern end UNSW – University of New South of the Railway Station looking across Jacaranda Square Office hours: 8.45 am to 5.15 pm, to the new Commonwealth Bank development Wales Monday to Friday Second The endangered Green and Golden Bell Frog, UTS – University of Technology, Sydney © Sydney Olympic Park Authority inhabitants of the Brickpit at Sydney Olympic Park 2005. Information correct at time Third A family enjoys one of Sydney Olympic Park’s WET – Wetland Education and new Bike Safari circuits Training of printing October, 2005. Bottom Crowds flock to Telstra Stadium along Olympic WRAMS – Water Reclamation and ISSN 1447-5084 Boulevard at Sydney Olympic Park Management Scheme

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