ANNUAL REPORT 2019 CONTENTS

PAGE

PRESIDENT'S REVIEW 8

CHIEF EXECUTIVE OFFICER’S REPORT 12

AUSTRALIAN OLYMPIC COMMITTEE 20

OLYMPISM IN THE COMMUNITY 26

OLYMPIAN SERVICES 38

TEAMS 46

ATHLETE AND NATIONAL FEDERATION FUNDING 56

FUNDING THE AUSTRALIAN OLYMPIC MOVEMENT 60

AUSTRALIA’S OLYMPIC PARTNERS 62

AUSTRALIA’S OLYMPIC HISTORY 66

CULTURE AND GOVERNANCE 76

FINANCIAL STATEMENTS 88

AOF 2019 ANNUAL REPORT 119

CHAIR'S REVIEW 121

FINANCIAL STATEMENTS 128

Australian Olympic Committee Incorporated ABN 33 052 258 241 REG No. A0004778J Level 4, Museum of Contemporary Art 140 George Street, Sydney, NSW 2000 P: +61 2 9247 2000

@AUSOlympicTeam olympics.com.au Photos used in this report are courtesy of Australian Olympic Team Supplier Getty Images.

3 OUR ROLE

PROVIDE ATHLETES THE OPPORTUNITY TO EXCEL AT THE OLYMPIC GAMES AND PROMOTE THE VALUES OF OLYMPISM AND BENEFITS OF PARTICIPATION IN SPORT TO ALL AUSTRALIANS.

4 5 HIGHLIGHTS

REGIONAL GAMES PARTNERSHIPS OLYMPISM IN THE COMMUNITY

PACIFIC GAMES ANOC WORLD BEACH GAMES APIA, SAMOA DOHA, QATAR

7 - 20 JULY 2019 12 - 16 OCTOBER 2019 31PARTNERS 450 SUBMISSIONS 792 COMPLETED VISITS 1,022 11SUPPLIERS STUDENT LEADERS QLD 115,244 FROM EVERY STATE STUDENTS VISITED AND TERRITORY SA NSW ATHLETES55 SPORTS6 ATHLETES40 SPORTS7 ACT 1,016 26 SCHOOL SELECTED TO ATTEND REGISTRATIONS 33 9 14 1 4LICENSEES THE NATIONAL SUMMIT

DIGITAL OLYMPIAN SERVICES ATHLETE CONTENT SERIES 70% 11,160 FROM FOLLOWERS Athlete-led content captured 2018 at processing sessions around 166% #OlympicTakeOver #GiveThatAGold 3,200 Australia, in content series to be 463,975 FROM OLYMPIANS published as part of selection IMPRESSIONS 2018 Campaign to promote Olympic CONTACTED announcements. Sports at the grassroots level 152% through user-generated content. 5 EPISODES 25,284 FROM Monthly winner receives a $250 ENGAGEMENT 2018 voucher for a pair of ASICS trainers. 1,000 INTERACTIONS (COMMENTS, AOC WEBSITE LIKES, SHARES)

42-52K MOST ACTIVE MONTH REACHED JULY 2019 MOST POPULAR Athletes take over the AOC’s Instagram page, PER EPISODE providing a behind-the-scenes view of the athlete's life, while promoting their sport. #OnThisDay AOC TEAM BEST PERFORMING POST 59,100 73,600 Bradbury celebrating his USERS SESSIONS gold medal in Salt Lake 48 City, 17 years on. +1 +5 TOTAL HEADCOUNT 143,000 26 18 PERMANENT FIXED TERM & TOTAL ATHLETE SPORTS 3.7M 7.7M 1.5M 14.3% HEADCOUNT CASUAL HEADCOUNT REACH TAKEOVERS REPRESENTED MINS VIEWED REACH ENGAGEMENTS 56,100 124,900 NEW USERS PAGEVIEWS

6 7 With the National Obesity Strategy identifying that On 2 January 2020, the AOC approved and notified the two-thirds of the Australian population is likely to Candidature to the IOC pursuant to Bye-law 1.1.1 to PRESIDENT’S be overweight or obese by 2030, the AOC made a Rule 33 of the Olympic Charter. We are now in what is submission to the Government in late 2019 to argue known as the “Continuous Dialogue” phase. REVIEW for a new approach and to champion the role of the 40 Stepping back, I presented and secured the unanimous Olympic National Federations (NFs) in that approach. endorsement for the recommendations of the IOC This is one of the many reasons why the AOC has working Groups I chaired for the two-step simultaneous It was a year where the AOC sent Teams to the Pacific worked closely with the three tiers of government awarding of the 2024 and 2028 Olympic Games at the Games, the inaugural World Beach Games, prepared a to progress the candidature of Brisbane, Queensland IOC Session on 13 September 2017, then the elections Team for the Winter Youth Olympic Games in Lausanne (the Candidature) for the 2032 Summer Olympic and themselves on 13 September; and, the evolution of the in early 2020 and of course laid the groundwork for our Paralympic Games (Games). Olympic Agenda 2020 revolution at the IOC Session Tokyo 2020 Olympic campaign. on 26 June 2019, when the IOC transformed future With the capacity of the Games to inspire a generation of Olympic Games elections, principally with the creation It was also a year the AOC launched its Olympic Change- young people to participate in the broad family of Olympic of permanent summer and winter Games Future Host Maker program, significantly adding to our efforts to sports, the case has been well made to government and spread the values of Olympism in the community. Commissions to oversee discussions with interested the International Olympic Committee (IOC). cities and recommend any targeted hosts. The program, which recognises and rewards students In September, I accompanied the delegation of who demonstrate leadership and driving positive change I have chaired the IOC Olympic Agenda 2020: New Queensland Premier, the Hon Annastacia Palaszczuk, in their communities, has been enthusiastically embraced, Norm Steering, now Strategic Review Committee, Federal Queensland MPs Ted O’Brien and Milton Dick concluding with an inaugural national Change-Maker since its establishment in 2017 and the IOC Tokyo and Councillor Mark Jamieson representing the Council Summit in December 2019. 2020 Olympic and Paralympic Games Coordination of Mayors, South East Queensland to Lausanne to The Olympics Unleashed program, presented by Optus, Commission since its formation in 2013. receive a briefing from the IOC on the candidature was delivered into primary and secondary schools across process. While Tokyo was awarded the Games prior to Australia also expanded and by year end, our Olympians endorsement of the New Norm recommendations, the were visiting schools in Queensland, New South Wales, IOC 2020 Coordination Commission has guided the the Australian Capital Territory and South Australia. THERE IS NO QUESTION implementation of the majority of them, delivering total To date, the AOC has trained 150 athletes in OLYMPICS UNLEASHED AND THE OLYMPIC CHANGE- savings of USD4.3 billion. The foundations for Australia’s sporting presentation skills and how to relate their Olympic journeys. These athletes have delivered their valuable MAKER PROGRAMS ARE These changes have made the process of seeking landscape to experience an extraordinary messages of resilience and goal-setting to 115,244 THE JEWELS IN THE to host the Games and subsequently staging them shift were laid in 2019. students in 792 schools. cheaper and simpler as all of us involved in Brisbane’s CROWN OF OUR GROWING candidature for the 1992 Games, Melbourne’s for the This program is highly regarded by educators and Australian sport has the capacity COMMUNITY ENGAGEMENT 1996 Games and Sydney’s for the 2000 Games can governments and will continue to grow in 2020 and to be supercharged thanks to the EFFORTS WHICH ARE BEING attest. beyond. INCREASINGLY RECOGNISED partnership forged between the The Australian Olympic Change-Maker program also In keeping with the New Norm philosophy of the Games Australian Olympic Committee (AOC), launched in 2019, recognises and celebrates Year 10 to BY GOVERNMENTS - STATE adapting to the hosts, and not the other way around, the Federal Government, the Queensland 12 students who drive positive change. AND FEDERAL. there is now the capacity for more than one city or a region to host the Games. Government and the Council of Mayors, The program saw more than 1,000 young leaders South East Queensland (COMSEQ). nominated for their outstanding community work with The delegation followed the formation of the Olympic This is designed to help drive down costs through the over 750 attending forums across every Australian state Candidature Leadership Group (OCLG), chaired by the use of existing or temporary venues rather than the Queensland and Brisbane in particular has and territory. 26 Olympic Change-Makers were chosen Prime Minister, the Hon Scott Morrison. In addition creation of new venues. If new venues are proposed, by a panel of Olympians to attend a two-day national placed itself in the forefront as a potential to the Prime Minister, the OCLG comprises Premier they must demonstrate a lasting sporting and summit, where they developed their sporting projects Palaszczuk, Queensland Tourism Minister the Hon Kate community benefit. host of the Olympic Games in 2032, and provided guidance to the AOC on issues facing Jones, Ted O’Brien MP, AOC CEO Matt Carroll and youth and sport. Another important initiative of the June 2019 IOC giving Australia the prospect of hosting its myself as Deputy Chair. (Paralympics Australia President, Session was the change to what are known as the There is no question Olympics Unleashed and the Jock O’Callaghan joined the OCLG in February 2020). third Summer Games. Olympic Charter Rule 40 arrangements to provide Olympic Change-Maker programs are the jewels in the greater flexibility for athletes to benefit commercially crown of our growing community engagement efforts The OCLG reflects the joined-up approach so necessary which are being increasingly recognised by governments for the Candidature to succeed. during the period of the Games (when the Olympic Village is open). - State and Federal. The Queensland Government Cabinet committed to the Following discussion with the AOC Athletes’ Commission, To that end we have been advocating to government Candidature on 9 December 2019 with the adoption the AOC Executive approved Supplementary Guidelines about the critical role organised sport can play in and public release of its Value Proposition Assessment to those of the IOC setting out what the athletes and tackling the growing problems of obesity, diabetes and (VPA) study into the Games’ costs and benefits. The VPA their personal sponsors can do during the Games period. other diseases that can be delayed or prevented by the provides a compelling case in terms of delivering a cost exercise benefits that sport conveys. neutral Games, creating up to 130,000 direct jobs and economic benefits of around $7.4 billion for the State.

8 9 The two major changes are: The Australian team was led by three times canoe sprint President Bach and Prime Minister Abe expressed It is no easy task and my particular thanks to Chef de Olympian and Beijing 2008 Olympic champion Kenny their shared concern about the worldwide COVID-19 Mission, Ian Chesterman, Deputy Chefs de Mission, Kim First, athlete sponsors can continue “business as usual” Wallace as Chef de Mission. pandemic, and what it is doing to peoples lives and Brennan, Evelyn Halls and Susie O’Neill and CEO Matt campaigns featuring the sponsored athlete during the the significant impact it is having on global athletes’ Carroll, who make up the 2020 Team Executive and Games, provided the campaign does not use Olympic In October, a 40-strong Australian Team competed preparations for the Games. guide preparations. properties and is not escalated during the Games. across seven sports at the inaugural Association of National Olympic Committees (ANOC) World Beach In a very friendly and constructive meeting, the two Matt Carroll as CEO continues to provide exemplary Secondly, athletes may now thank their personal Games in Doha, finishing with one silver medal in leaders praised the work of the Tokyo 2020 Organising leadership and strong advocacy for all member Olympic sponsors for their support during the Games period. Wakeboarding. Committee and noted the great progress being made in sports. This can be done provided: Japan to fight against COVID-19. Showcasing new disciplines for Olympic sports like I thank Matt Carroll and Ian Chesterman for undertaking • there is no commercial connection made with the 4x4 Beach Volleyball, Beach Handball and Kitefoil The unprecedented and unpredictable spread of the even greater media and other communication Olympic Games and the sponsor Sailing, these Games provided invaluable experience for outbreak had seen the situation in the rest of the responsibilities as I step back to focus on my IOC Tokyo • the “thank you” does not suggest the sponsor was Australian athletes to develop their skills and grow as world deteriorating. Just the day before, the Director- 2020 role. responsible for the athlete’s performance part of an elite multisport team, led on this campaign by General of the World Health Organisation (WHO), And I thank our athletes and member National John Boultbee as Chef de Mission. Tedros Adhanom Ghebreyesus said that the COVID-19 • the “thank you” can be issued (across multiple social Federations for their understanding and continued pandemic is “accelerating”. There are more than media platforms) once per performance, including any I also acknowledge the efforts of our Team which support of the Olympic Movement. 375,000 cases now recorded worldwide and in nearly podium ceremony competed in January 2020 at the Winter Youth Olympic every country, and the number is growing by the hour. Games in Lausanne in January. JOHN COATES AC • the sponsor cannot publicly congratulate the athlete Two days later, there were more than 467,000 cases. President for their performance. We recorded our first Gold medal at a Winter Youth In these circumstances, and based on the information (updated 26 March 2020) Games with Josie Baff in the Girl’s snowboard cross. The changes represent a fair balance between the provided by WHO, the IOC President and Prime Overall, one gold, one silver and two bronze – noting athletes’ rights to benefit commercially from their Minister of Japan concluded that the Games of the that the silver and bronze medals were awarded in mixed endeavours, and the IOC’s obligation to protect the XXXII Olympiad in Tokyo must be rescheduled to a nation contests in 3x3 ice hockey. Ramone Cooper as exclusivity of its broadcasters and commercial partners, date beyond 2020 but not later than summer 2021, to Chef de Mission provided a great experience for his without whom the Games would not be possible and safeguard the health of the athletes, everybody involved young charges. the AOC could not fund its teams, as we do, without any in the Olympic Games and the international community. Commonwealth Government funding. In 2019 the AOC welcomed a raft of new partners The leaders agreed that the Olympic Games in Tokyo to our family of sponsors. My thanks to the team It was pleasing to see so many Olympians honoured could stand as a beacon of hope to the world during from Lagardère, our commercial agents, for their during the year in the Australia Day and Queen’s these troubled times and that the Olympic flame could ongoing efforts to ensure the AOC remains not only Birthday Honours Lists. Ian Thorpe, whose five Olympic become the light at the end of the tunnel in which independent, but financially independent and our Teams gold medals is the greatest tally of any Australian the world finds itself at present. It was agreed that the are well supported ahead of Tokyo and beyond. Olympian, was made a Member (AM) in the General Olympic flame will stay in Japan. It was also agreed that Division of the Order of Australia for his significant Allianz, Airbnb, the Royal Australian Mint and YoPRO the Games will keep the name Olympic and Paralympic service to youth and Indigenous education through (Danone) came on board as proud partners. Jockey, Games Tokyo 2020. charitable initiatives and to swimming. Crumpler, Volley and Elastoplast came on board as As a follow up on the operational side, the IOC President suppliers. We are on target for achieving over $71.5 Kitty Chiller was recognised with an AM for her has established a Task Force under the umbrella of the million in sponsorship and licensing revenues across the significant service to sport, particularly as a modern IOC Coordination Commission, including Tokyo 2020 four year period to 2020, giving the AOC its strongest pentathlon competitor and administrator. CEO, Muto Toshiro, IOC Olympic Games Executive commercial program since our joint marketing program Director, Christophe Dubi, with me as Chair. We are Also honoured with an AM was AOC Vice-President Ian with SOCOG for Sydney 2000. meeting every other day and ad hoc as required. Chesterman, who has led Australian teams as Chef de While this is my 2019 President’s Report, I have Mission to the past six Winter Olympic Games. In these rapidly changing times, I extend my gratitude amended it from this point to confirm that on Tuesday to the AOC Executive whose exceptional experience The AOC congratulates all those Olympians and Olympic 24 March 2020, the President of the IOC, Thomas and skills continue to guide our actions. I thank them for administrators recognised. Bach and the Prime Minister of Japan, Abe Shinzo, their willingness to meet on short notice - twice in the held a conference to discuss the constantly changing As indicated earlier, the AOC sent two Teams away in last three days. At these meetings, we particularly value environment with regard to COVID-19 and the Olympic 2019 to compete in multi-sport Games. the input of Athletes’ Commission Chair, Steve Hooker Games 2020. In July, we were represented by 55 athletes at the who remains in close contact with our athletes, including Samoa 2019 Pacific Games. They were joined by Mori Yoshiro, President of the along with our Olympian Services Manager, Daniel Tokyo 2020 Organising Committee; Olympics Minister, Kowalski, with measures to address the uncertainty and Competing across six sports – taekwondo, weightlifting, Hashimoto Sako; Governor of Tokyo, Koike Yuriko; anxiety they are experiencing. athletics, beach volleyball, sailing and rugby 7s – the IOC Director-General, Christophe De Kepper and IOC I thank the AOC staff for their diligence and dedication Team won 56 medals, but more importantly, confirmed Olympic Games Executive Director, Christophe Dubi. I to the enormous task of preparing our Team for the the AOC’ s commitment to developing sport in the joined as Chair of the IOC Coordination Commission. Pacific. Tokyo 2020 Games which becomes more complex by the day.

10 11 with Paralympics Australia, Commonwealth Games John Boultbee AM World Beach Games, Doha and Australia (CGA) and the Australian Sports Foundation Ramone Cooper OLY Winter Youth Olympics, Lausanne CHIEF EXECUTIVE (ASF) as an “Alliance” to harness the collective good-will 2020. Regional games are providing member sports with and influence of all four organisations. Under the banner opportunities to expose pathway athletes and coaches to OFFICER’S REPORT of “Recovery through Sport”, the Alliance focused on multi-sport games, with further additions to the roster two initiatives; such as the Asian Games due in 2022. • establishing and administering a Fund for the Planning for the Australian Team to Tokyo 2020 for replacement of sporting equipment for sport, and 2021, is on track. The Team will most likely be our largest community organisations, as well as individuals or away team and together with coaches, medical and families in some circumstances and; other support staff we will be taking over 1,000 people to Tokyo. An opportunity for Australia to contribute to • take athletes into affected areas to help lift community reconnecting the world. spirits. DESIGN AND IMPLEMENT To significantly improve our efforts in Objective 6; To 1 recognise the heritage, culture and contribution of our 3 DEVELOP AN OVERARCHING COMMUNITY ENGAGEMENT COMMUNICATION STRATEGY FOR PROGRAMS nation’s first people and to give practical support to the issue of indigenous reconciliation through sport; THE AOC AND OLYMPIC SPORTS Our investment in this critical AOC role continues to the AOC Executive approved the establishment of the Our communications strategy focuses on a more grow and to date we have enjoyed extremely successful Indigenous Advisory Committee. Further details can meaningful engagement with the community, outcomes. In association with state and territory be found in Olympism in the Community later in this collaboration with member sports and a re-focus of governments and our commercial partners, we have Report. attention on the Olympic spirit and ideals. Importantly, expanded existing and added new programs over the last Community engagement planning will see new initiatives to ensure the AOC is a legitimate voice at home and twelve months. in 2020. These include a specialised Olympics Unleashed abroad. As the Australian Olympic Committee enters Olympics Unleashed, taking Olympians into the for indigenous schools and communities, Olympic Utilising the critical mass of the AOC, our partners, classroom to tell their story to students, is now operating Festival program for Games time and a pre and Games the final year of the 2020 Summer Games member sports, Olympians, athletes, our broadcaster, in Queensland, NSW, ACT and South Australia. At time advertising campaign to promote participation in media and government we have significantly grown our Quad, I am pleased to report that we are the time of this report we are in discussion with the Olympic sports. reach. Increased use of video and user generated content governments of Victoria, Tasmania, Northern Territory well positioned, resourced and on track Apart from fulfilling our Objectives, “to promote the has driven a significant uplift in traffic and engagement in and a pilot program has been held in Western Australia. to deliver the ten Strategic Initiatives we fundamental principles and values of Olympism in the AOC digital properties. Over 790 schools have had visits and 115,244 students Australia in the fields of sport and education”, and set for ourselves in 2017. These initiatives have heard an athlete’s story. In addition to the Collaboration with member sports also included “encourage the development of sport for all for the were agreed to ensure the AOC evolved governments, the support of our partner Optus has supporting them with media issues and amplifying their health, wellbeing and other benefits to all individuals in to develop the capability and capacity to been critical to this expansion. events through our channels. The policy of selecting Australia”, these programs underscore to the community media liaison officers for the Tokyo Games who are full- deliver the AOC’s 14 Objectives listed in the A review of the Pierre de Coubertin Award found that and government the value the Olympic movement can time employees or contractors of member sports has Constitution – our reason for being. we needed to refresh and reinvigorate our engagement bring through engagement and partnership. been well received. Our Objectives, based on the Olympic with schools and students. The result was “Australian Olympic Change Maker”. Launched in 2019, the program This year with the development of the Candidature for Charter, are our strategic goals as an has been an immediate success. Bringing together over 2 IMPLEMENT RESOURCING 2032 Olympic Games, the AOC has played a significant organisation. Our success in achieving 1,000 Year 10 to 12 students making a difference in AND SYSTEMS TO ENABLE THE role in coordinating communications and stakeholder their schools and communities. SUCCESSFUL PLANNING AND engagement. This will be ongoing and is now factored our goals for the benefit of the Olympic DELIVERY OF MULTIPLE TEAMS into our broader communications strategy. Movement in Australia is how our Twenty-six students were selected by a panel of IN OVERLAPPING CYCLES performance is measured. Olympians to participate at a national summit in Canberra. I was fortunate to receive their team From the Rio Games to the end of the 2020 quad the 4 INITIATE PLANS TO Sadly, as this Report goes to print, Australia presentations which included ideas on how to improve AOC will have organised, equipped and managed 7 SIGNIFICANTLY EXPAND AOC’S Australian teams to international games. A considerable and the world is faced with the challenging access to sport for rural and regional youth and initiatives LEADERSHIP OF OLYMPIC to support equality and diversity in sport. increase on the past. Excluding the Tokyo Games, SPORTS THROUGH ADVOCACY COVID-19 virus, a crisis like no other the total number of athletes is 349, with Tokyo and WITH GOVERNMENT before. I have not greatly amended this The final workshop was hosted by our partner, the this climbs to 844 athletes representing 44 of the 45 A deliberate strategy with additional resources has seen report because we will emerge on the other Royal Australian Mint, who also struck a unique medal, member sports, at a total investment of $32 million. with a butterfly design symbolising change, which was the AOC step up our leadership role. With the support side. So with hope and optimism please presented to each student. To ensure these teams are well prepared and looked of our member sports, we are now acting as an “industry find following a progress report on the ten after we have invested in additional people, training and body” to represent their interests to governments, Sport Following the devastating bushfires over last summer, systems. Australia/AIS, government agencies and in other forums strategic initiatives. the AOC announced our response to the bushfire crisis as required. including a donation of $100,000 to Australian Red The AOC thanks the Chefs de Mission of each of Cross. The response was to lead a co-ordinated effort the Australian Teams for their commitment, time and leadership. Ken Wallace OAM OLY Pacific Games, Samoa;

12 13 We regularly consult and communicate with our members’ However, following consultation with member sports, Investment in new data base management tools has CEO Roundtables of member sports were held to discuss CEOs, and at different times, include them in meetings with serious operational problems were identified with the streamlined and improved the efficiency of the sales issues ranging from government funding and policy, athlete government at both ministerial and departmental levels. Scheme making it difficult for sports to join. The two process. representation on boards, games planning, anti-doping principle problems are, the ability to meet the financial and promotion of Olympic sports. These roundtables are Our advocacy strategy is based on our ‘new direction’ The AOC thanks the State and Territory Governments commitment required by the Scheme and remain focused on collaboration and that the AOC represents outlined in 2018 and includes the key aims; for their generous support of the athletes through their solvent and how the Scheme applies to a federated sport the member sports – if you will, we are the representative donation to the Team Appeal. • Pursue government(s) to support the role and benefits of organisation. industry body for our members. sport in the community, international standing and sport On behalf of the President and Executive, may I thank the The AOC has engaged with the responsible Minister In planning teams for games, we have established a process diplomacy; members of the Team Appeal Committees and particularly to find a solution so all our member sports can join in a of involving member sports right from the start, so we are the Chairs, for their hard work and dedication to raising • Clearly demonstrate the importance of sport, with a meaningful way. responsive to their needs. Also, where possible, we recruit funds for the Australian Team. Their contribution will now focus on youth, as a vehicle to deliver health, wellbeing team officials from member sports so as to utilise their be extended into 2021 for which we all have great thanks. and education benefits through development and expertise and to provide career development opportunities. expansion of community engagement and participation 5 IMPLEMENT A COMMERCIAL Grants to member sports who receive no government programs by AOC and member sports; STRATEGY TO IMPROVE 7 INITIATE PROGRAMS TO funding continue and grants have also been provided to REVENUE FROM ESTABLISHED SUPPORT OLYMPIANS • Ensure governments and their agencies have greater AND NEW SOURCES sports that have required emergency assistance. We have awareness of the issues confronting sports and to This vital initiative has resulted in delivering real programs to ensured member sports are well informed of the availability Commercially this quad is heading to the most successful improve consultation, listening and understanding and support Olympians across a range of areas. These include of IOC Solidarity grants across a range of categories. This since Sydney 2000. We have 42 partners and suppliers, the need for funding models to be transparent, and Olympian Opportunities covering career advice, Wellbeing has resulted in $588,000 in grants being provided to 32 with 11 new brands having come on board since the respect each sport’s knowledge and experience; Week, and an Athlete Personal Sponsor toolkit. Details are member sports. Rio Games. This is budgeted to deliver in this quad a covered later in this report. • Funding to be increased as direct grants to member total of $71.5million in sponsorship (both cash and VIK) Importantly, the AOC is listening to the concerns of sports with a four-year commitment so they can build significantly up from the previous quad The initiatives and programs support Olympians at three individual sports as well as supporting their aims. These their capability and capacity, leading to greater certainty important phases. As a competing athlete, as an athlete obviously vary but as far as possible we have provided advice Part of our strategy has been to broaden the AOC assets in planning, and recruitment and retention of staff, preparing to retire and as an Olympian for life. There are of and support on issues ranging from government funding, beyond Olympic teams. This has been successful with particularly coaches and performance specialists. course nuances in each of these phases which need to be supporting a bid for an international event or providing Optus becoming the presenting partner of Olympics acknowledged and acted on. advice on operational issues. We continued to have a productive relationship with Sport Unleashed and Westpac a partner for Olympics Live and Australia and the Australian Institute of Sport. I worked the financial literacy piece of Olympian Opportunities. The feedback from Olympians of this renewed engagement A good example of this collaboration and listening came closely with both CEOs and our respective management is very positive. Importantly Olympians are providing advice from a CEO Roundtable meeting where the subject As an indication of the commitment the partners have teams collaborated across several projects important to to the AOC as initiatives are developed, whether through discussed was supporting athlete representative directors to the AOC and the Team, is that 10 have taken up Australian sports and athletes. May I record our thanks to the Athletes Commission or direct involvement. on member sport boards. The resultant action that has Kate Palmer for her dedication to sport in her time as CEO advertising packages with the Seven Network for the been taken is an AOC sponsored Australian Institute of Sport Australia. Tokyo Games. This will have the benefit of amplifying the The AOC Executive and Management have worked closely of Company Directors specific course for athlete promotion of the Games, athletes and Olympic sports. with the Athletes Commission in designing the initiatives, representatives and other new members of sport boards. The AOC actively advocated for sports to be fully developing policy that affects athletes such as supplement The course is aimed to ensure strong capability and consulted on the proposed AIS Canberra campus On behalf of the AOC Executive and member sports, advice, IOC rules, Team agreements and most importantly understanding of the requirements and obligations of redevelopment. Particularly ensuring any plans address I thank all our Partners, Australian and Global, and Official Team values. In 2019 the Executive met twice with the being a director tailored to include content and case studies the significant organisational and capability changes sports Suppliers for their investment and commitment to the Athletes Commission. relevant to sport. have undergone since 1981. Also, the opportunities Australian Olympic Team and Olympic movement. The AOC continues to advocate for member sports to now presented by universities and other organisations Our relationship with Lagardère is one of strong recognise the IOC Athletes’ Rights and Responsibilities for training facilities. The role of the AIS as a centre of collaboration and commitment and I thank Michael Bushell, DEVELOP AN ENGAGEMENT Declaration in their constitutions and is providing guidance 9 excellence for research is paramount and this should be a Damien Moston and their team for their expertise, insight STRATEGY TO COMMUNICATE for this process. prime focus. and professional servicing that have delivered a strong AND MANAGE OUR ENTRY INTO We also have good relationships with the State Academies commercial program. My thanks to Steve Hooker as Chair of the Athletes' REGIONAL AND OTHER GAMES Commission and to the members for their invaluable advice and Institutes and I thank them for their investment and Work on the commercial strategy and program for the This initiative remains a work in progress partly due to the and support. commitment to Olympic sports. next quad is well underway. The strategy will of course games themselves still developing as competitions. take into account the opportunity of a successful 2032 In the last quarter of 2019, the Federal Government Debriefs of the games held to ascertain the value provided candidature. commenced entreating sports to join the National Redress 8 ACHIEVE ACTIVE AND to sports and their athletes elicited positive feedback, Scheme, set up as one of the recommendations of the RESPONSIVE ENGAGEMENT so we will be working with member sports on a strategy DEVELOP AND IMPLEMENT Royal Commission into Institutional Responses to Child 6 WITH MEMBER SPORTS AT for regional games that supports their pathway and AN IMPROVED NATIONAL Sexual Abuse. MULTIPLE LEVELS performance program and for some sports, qualification to FUNDRAISING STRATEGY Member sports and the AOC are committed to the the Olympic Games. To support the state and territory Team Appeal Our improved engagement with member sports has been Royal Commission’s recommendations. In support of this Participation by Australian athletes in regional games also Committees in their important role, the management and achieved through a deliberate strategy of listening, inclusion commitment the AOC Executive in November 2019 supports AOC’s and members sports standing in the global operations of the Appeal have been integrated to reduce in strategy, improved servicing and simply being there to approved to join the Scheme. Olympic movement and demonstrates the opportunity that overheads, ensure consistency of branding and messaging assist and support when needed. Olympic sports brings to government diplomacy. and provide improved servicing.

14 15 In 2019 the AOC was made an associate member of the Our new Website was launched in July 2019, coming in VOLUNTEERS Pacific Games Council (PGC). We are honoured and value under budget. The new site provides the AOC with a first- this membership as our sports have achieved success and class and cost efficient platform to promote the Olympic On behalf of the President, Executive and Management, athlete development through participation in the Games. Movement, Olympians and their journeys and be the I offer our sincere and deeply given thanks to all our OUR VALUES While this membership does not entitle AOC to a vote, it source of Olympic information. Built upon open-source volunteers. Members of AOC Commissions, Committees, allows the PCG Executive Board to invite Australia to send technologies and hosted in the cloud, the new website runs Team officials, State Councils, Olympian Clubs, Team athletes in sports to future Games in addition to those who at a fraction of the cost of a traditional website. Appeal Committees and Olympians. The time and participated in the 2019 Games in Samoa. experience you freely give for the service and benefit FINANCIAL RESULT of the Olympic Movement in Australia makes the From the PGC perspective, as they want to build the Games achievements listed in this report possible. into a Continental Games for direct qualification to the In 2019 the AOC Executive adopted general purpose Olympic Games, Australia and New Zealand are required to financial reporting, complying with all existing and new May I also offer the AOC’s thanks and appreciation participate. Solomon Islands are host of the next Games in AASB accounting standards. This impacts the manner in to the volunteers, administrators, coaches and all the 2023, and we will look to have early advice from the PGC which sponsorship and fundraising activities are accounted contributors at our member sports. You are the Olympic LISTEN AND LEARN which sports are to be invited to compete in. for and ceases the AOC's unique accounting policies in movement in Australia. relation to deferral of certain revenues and expenditures We listen and have  during a financial year. The Notes to the Financial THANKS 10 ENSURE AOC OPERATIONAL Statements set these changes out in full. a desire to learn SYSTEMS AND PROCESS IN As we prepare for Tokyo 2020, I am confident that our PLACE TO EFFICIENTLY AND While this change in accounting has generated variances planning and commitment to deliver the best services and EFFECTIVELY SUPPORT THE in both revenue and expenditure, the underlying position support will provide our athletes with every opportunity to ABOVE INITIATIVES for 2019 is a very solid financial result, built on a strong succeed at the Games. We will also take every opportunity commercial program, good returns from the Foundation at home to generate support for the Team and promote PERSONAL BEST This initiative is critical to achieving the AOC’s Objectives. and prudent management of expenditure. Olympic sport. This is about our people – employees, games time contractors and volunteers. Ensuring they have the Sponsorship and licensing revenues of $17.8m exceeded This year brought the exceptional opportunity of 2032. We enable people operating systems and support services to be able to do budget by $3.1m putting the AOC on track for a quad The focus and experience that our President has brought to be their best their job in a safe and welcoming culture. outcome of $71.5m. This will exceed budget by $8.2m. to the candidature has ensured we are ahead of the game The income distribution from the Australian Olympic but not ahead of ourselves. While obviously the race is not The AOC Culture Plan continued to be made operational Foundation of $10.9m was $4.6m above budget. yet won and the Games are a while away, the opportunity by embedding the AOC’s values in the performance and to host the Olympics again in Australia provides a unique remuneration review process. This involves individual In addition to the change in accounting policy, the AOC prospect. We will plan accordingly to take every advantage conversations about progress against goals, how staff are Executive further adopted a policy of gifting surplus income ACT WITH INTEGRITY for sports, their athletes and the Olympic Movement. demonstrating values and behaviours and ensuring clarity in any financial year to the AOF in the year that the surplus of expectations. is generated. This is with the view that surplus funds can My personal thanks to my senior management team and We act with integrity generate higher returns in the professionally managed the staff. You are only as good as the people you lead, An online Learning Management system has been installed in all that we do investment arm of the AOF as opposed to being kept in and I have a very good team of committed people. To to streamline training for staff and volunteers attending AOC retained surpluses. Subject to the provisions of the the President, John Coates, my thanks for his continued Games. This is important to ensure the AOC meets its AOF Trust Deed, it is envisaged that such gifts can be guidance, support and encyclopaedic knowledge of the compliance and regulatory obligations such as Child returned as a capital distribution if and when required by Olympic world and to the Executive for their full backing Protection. the AOC in deficit years. and encouragement. RESPECT FOR ALL In many ways the AOC is a data business. We do a lot of Total expenditure (excluding Support Services) in 2019 to Working together in 2019 we have built a very strong collecting and sharing of data and information with member meet our Objectives was $17.1m split as follows across the base to provide every opportunity to meet the challenges sports, games organisers and other agencies. To streamline We treat everyone core AOC activities; and seize the opportunities of 2020. and safeguard the sharing of data and information, we have with respect invested in three new platforms; • Olympians and athlete support including MIF $2.9m; MATT CARROLL AM • Teams and sports including the OWIA $9.2m; • AOC Games Hub – extranet website built for sharing Chief Executive Officer documents and information with member sports and key • Community and education programs $2.1m; stakeholders; • Information Technology & data management $1.8m; and A POSITIVE FORCE • Teams system – piloted this year at the Pacific Games for • Public Affairs, communications & digital $1.1m. text, voice and video communication over desktop and My thanks to the commitment and work of the Investment We use our mobile devices; Advisory Committee chaired by Dr John Hewson. As the independence  • Olympic Team Portal – self-serve CMS based on Financial report shows, the performance of the Foundation Salesforce community’s platform serves as a gateway for is vital to the AOC being able to fund our commitments and passion to be member sports to collect and manage user data required and investments in athletes, sports, education and the a positive force to register all prospective team members. Athletes and community. officials have access to complete the required information for themselves.

16 17 AOC OBJECTIVES ‘WHAT WE DO’

The Objectives of the AOC are set out in the Constitution and have been approved by the IOC under the Olympic Charter which regulates IOC recognition of all National Olympic Committees. Chapter 4 of the Charter explicitly sets out the mission and role of National Olympic Committees as well as their composition and structure. The Objectives are in effect the strategic aims of the AOC, providing clarity of role and mission. The challenge and focus for the AOC is to ensure we successfully achieve and improve on this mission year on year.

OUR VISION 6.1 Develop, promote and protect the principles of 6.7 Encourage the development of sport for all Olympism and the Olympic Movement in Australia for the health, wellbeing and other benefits to in accordance with the Olympic Charter and all all individuals in Australia, and in support and regulations and directives issued by the IOC; encouragement of those objects, the development of high performance sport as the pinnacle of the AUSTRALIANS 6.2 Promote, raise awareness of and encourage benefits of sporting participation; participation in sport for the benefits of health, longevity, fitness, skill, achievement, social 6.8 Take action against any form of discrimination and INSPIRED BY interaction, wellbeing and other benefits of violence in sport; exercise for all individuals in Australia; 6.9 Adopt and implement the World Anti-Doping THE SPIRIT OF 6.3 In support of the above objects, to effect its Code; exclusive authority for the representation and participation by Australia at the Olympic Games, 6.10 Encourage and support measures relating to the OLYMPIC SPORT Olympic Winter Games, Youth Olympic Games, medical care and health of athletes; Youth Olympic Winter Games and at Regional 6.11 Protect clean athletes and the integrity of sport by Games and do all matters incidental thereto, being a leading advocate in the fight against doping including the selection and discipline of all and all forms of manipulation of competition and members of the teams to represent Australia related corruption. at those Games. The Committee is obliged to participate in the Olympic Games and Olympic 6.12 To exercise its exclusive authority to select and Winter Games by sending athletes; designate the city or cities which may apply to organise Olympic Games in Australia; 6.4 Promote the fundamental principles and values of Olympism in Australia, in particular, in the fields 6.13 In order to fulfil these objects, the Committee of sport and education, by promoting Olympic may cooperate with governmental bodies. The sporting and health, educational programs in all Committee shall not associate itself with any levels of schools, sports and physical education activity which would be in contradiction with institutions and universities, as well as by the Olympic Charter. The Committee may also encouraging the creation of institutions dedicated cooperate with non-governmental bodies; to Olympic education, such as National Olympic Academies, Olympic Museums and other programs, 6.14 Preserve the autonomy of the AOC and resist all including cultural, related to the Olympic Movement; pressures of any kind, including but not limited to political, legal, religious or economic pressures 6.5 Ensure the observance of the Olympic Charter; which may prevent the AOC from complying with the Olympic Charter. 6.6 To recognise the heritage, culture and contribution of our nation’s first people and to give practical support to the issue of indigenous reconciliation through sport;

18 19 Member, IOC Olympic Program President, Volleyball Australia Chef de Mission, 2018 Australian Commission President, Oceania Zonal Volleyball Youth Olympic Team AUSTRALIAN OLYMPIC COMMITTEE Member, IOC Marketing Commission Association (to November 2019) Deputy Chef de Mission, 2020 Member, World Olympians Vice President, Oceania Zonal Australian Olympic Team Association Executive Committee Volleyball Association Director, AOF Limited (from November 2019) Member, AOC Audit and Risk CHIEF EXECUTIVE OFFICER Executive Vice President, Asian Committee Matt Carroll AM, BBuild Volleyball Confederation (AVC) Member, AOF Audit and Risk GradDipSportM Chair, Asian Beach Volleyball Committee Resident of Sydney, NSW Committee (AVC) Member, AOC Culture, Remuneration MEMBERS OF Member since 2017 Member, FIVB Beach Volleyball and Nominations Committee PATRONS THE EXECUTIVE CEO, Australian Olympic Committee Commission President, Australian Fencing Director, AOF Limited Director, Scape Australia Federation Ltd (to January 2019) Director, Olympic Winter Institute Management Pty Ltd and affiliates Member, Women in Fencing Council, Inducted General Member, Australian PATRON IN CHIEF PRESIDENT of Australia Ltd Director, Telopea Capital Partners Federation Internationale d’Escrime Sporting Hall of Fame to July 2019 John D Coates AC, LLB Pty Ltd Member, ONOC Executive Board Sir Peter Cosgrove AK, MC (Ret’d) Resident of Sydney, NSW OTHER MEMBERS Director, Sunland Group Limited Steven Hooker OAM OLY Member, ONOC Education Governor-General of the Member since 1981 Matt Allen AM, BBus (to November 2019) Olympian (Athletics) Commission Commonwealth of Australia Member, International Olympic Resident of Sydney, NSW Director, Atira Student Living Pty Ltd 2004, 2008 (1 gold medal) and 2012 Chair, ONOC Equity Commission Committee (IOC) since 2001 Member since 2017 (from November 2019) Olympic Games from July 2019 Chair, IOC: (from December 2019) Director, AOF Limited Resident of Melbourne, VIC • Tokyo 2020 Coordination Member, ANOC Executive Board Kitty Chiller AM OLY Member since 2016 General the Honourable David Chair, AOC Finance Commission Commission; (from December 2019) Olympian (Modern Pentathlon) Director, AOF Limited Hurley AC DSC (Ret’d) Member, AOF Investment Advisory • Legal Affairs Commission; and Committee 2000 Olympic Games Chair, AOC Athletes’ Commission Governor-General of the Ian Chesterman AM, BCom • Olympic Games Delivery Resident of Melbourne, VIC Commonwealth of Australia Resident of Launceston, TAS President, Australian Sailing Executive Steering Committee Member since 2013 Michael Murphy BCom LLB Member since 2001 (to November 2019) IOC Delegate for Broadcast Rights Director, AOF Limited (Hons) MBA PATRON Chef de Mission, 2018 Australian Director, Halcycon Pty Ltd negotiations in Oceania President, Modern Pentathlon Olympian (Diving) The Hon. Scott Morrison MP Olympic Winter Team Director, Kalart Pty Ltd President, International Council of Australia 1992 and 1996 Olympic Games Prime Minister of Australia Chef de Mission, 2020 Australian Director, Romeomike Enterprises P/L Arbitration for Sport (ICAS) and Court President, Oceania Confederation of Resident of Sydney, NSW Olympic Team Vice Chair, Oceanic and Offshore of Arbitration for Sport (CAS) Modern Pentathlon Member since 2017 Chair, AOC Audit and Risk Committee Committee for World Sailing Member, AOC Finance Commission Executive Board Member, Union Director, AOF Limited Chair, AOF Audit and Risk Committee Chair, Australian Olympic Foundation Mark Arbib BA MA Internationale de Pentathlon Member, AOC Audit and Risk Member, AOC Finance Commission Limited (AOF) Resident of Sydney, NSW Moderne (UIPM) Committee Director, AOF Limited Member, AOF Investment Advisory Member since 2016 CEO, Gymnastics Australia Member, AOF Audit and Risk Director, Olympic Winter Institute of Committee Director, AOF Limited President, Oceania Gymnastics Union Committee Australia Member, Oceania National Olympic Member, AOC Finance Commission Executive Board Member, Fédération Member, AOC Culture, Remuneration Chair, Olympic Winter Institute of Committees (ONOC) Executive Member, AOC Audit and Risk Internationale de Gymnastique and Nominations Committee Australia Audit Committee Director, Oceania Foundation Committee Member, IOC Athlete’s Entourage Chair, Diving Australia Chair, 2022 Beijing Team Executive Chair, William Inglis & Son Ltd Member, AOF Audit and Risk Commission (from November 2019) Director, Camp Australia Director, Sportcom Pty Limited Member, European Australian Committee Director, Only About Children President, Athletics Australia Catherine Fettell Director, Retail Zoo Business Council IOC MEMBER IN AUSTRALIA President, Nitro Athletics Australia Resident of Canberra, ACT James Tomkins OAM OLY Member since 2017 VICE PRESIDENTS Director, The Upside Corporation Olympian (Rowing) President, Shooting Australia Pty Ltd Helen Brownlee AM, B.Ed 1988, 1992 (1 gold medal), 1996 Treasurer, World Association PPC 1500 Resident of Sydney, NSW Director, Scrumpac Pty Limited (1 gold medal), 2000 (1 bronze Vice President, Commonwealth Member since 1991 Director, Packer Family Foundation medal), 2004 (1 gold medal), Shooting Federation Member, AOC Culture, Remuneration Limited 2008 Olympic Games Director, AOF Limited and Nominations Committee Director, ASM Liquor Pty Ltd Resident of Melbourne, VIC Member, AOC Audit and Risk Director, AOF Limited Member 2008 – 2012 Craig Carracher LLB (Hons), Committee President, NSW Olympic Council recommenced 2013 BCL (Hons) Member, AOF Audit and Risk Member, IOC Commission for Director, AOF Limited Resident of Sydney, NSW Committee Olympic Education Member, International Olympic Member since 2015 Member, AOC Finance Commission Chair, ONOC Women & Sport Committee Chair, AOC Culture, Remuneration Commission (to November 2019) Member, IOC Athletes’ Commission and Nominations Committee Evelyn Halls OLY, BA LLB (Hons) Deputy Chair, Penrith Whitewater Member, ONOC Athletes’ Member, AOC Finance Commission Olympian (Fencing) Stadium Commission Director, AOF Limited 2000 and 2004 Olympic Games Member, Australian Centre for Member, AOC Athletes’ Commission Member, AOF Investment Advisory Resident of Melbourne, VIC Olympic Studies Advisory Committee Member, ONOC Executive Committee Member since 2017

20 21 ATHLETES’ COMMISSION MEDICAL COMMISSION AUDITORS NATIONAL FEDERATIONS & & LAWYERS RECOGNISED ORGANISATIONS

CHAIR Jessica Fox OLY CHAIR AUDITORS Membership of the AOC includes Gymnastics Steven Hooker OAM OLY Canoe/Kayak Dr Peter Fricker OAM, MBBS Ernst & Young the National Federations, which are Gymnastics Australia Ltd 2012 London (1 silver) Australian organisations affiliated to Athletics HonDUniv (Canberra), FACSEP, Handball 2016 Rio (1 bronze) an International Federation governing 2004 Athens FRACP (Hon), FFSEM (UK) (Hon), LAWYERS Australian Handball Federation Inc 2008 Beijing (1 gold) GAICD a spot included in the sports program Scott Kneller OLY Allens Linklaters 2012 London of the next Olympic Games or the Hockey Freestyle Skiing, Ski Cross Johnson Winter & Slattery MEMBERS next Olympic Winter Games. Hockey Australia Ltd 2010 Vancouver Speed and Stracey Lawyers DEPUTY CHAIR 2014 Sochi Dr Peter Braun MMBS, FACSEP Only one National Federation Judo Kimberley Brennan AM OLY, BA Sports Physician for each sport will be admitted to Judo Federation of Australia Ltd LLB (HONS) GDLP Lydia Lassila OAM OLY LIFE MEMBERS membership. Karate Rowing Freestyle Skiing, Aerials Dr David Hughes B.Med, Dip Sports The following National Federations Australian Karate Federation Inc 2008 Beijing 2002 Salt Lake City Medicine, FACSEP The Executive of the AOC may are members of the AOC: 2012 London (1 silver, 1 bronze) 2006 Torino confer Life Membership upon Modern Pentathlon Dr Anik Shawdon MMBS, FACSEP, 2016 Rio (1 gold) 2010 Vancouver (1 gold) any person who has rendered Modern Pentathlon Australia Dip Sports Medicine (Lond) SUMMER NATIONAL FEDERATIONS 2014 Sochi (1 bronze) outstanding service to the Olympic Movement and Sport. Aquatics Rowing MEMBERS 2018 PyeongChang Miranda Menaspà BPhysio, MSports Artistic Swimming Australia Inc Rowing Australia Ltd Alana Boyd OLY Physio, FACP (from June 2019) James Tomkins OAM OLY HONORARY LIFE PRESIDENT Diving Australia Ltd Athletics Rugby Union Rowing Sydney B Grange AO OBE MBE Swimming Australia Ltd 2008 Beijing STATE OLYMPIC COUNCIL Rugby Australia Ltd 1988 Seoul (deceased) Water Polo Australia Ltd 2012 London PRESIDENTS 1992 Barcelona (1 gold) Sailing 2016 Rio Archery 1996 Atlanta (1 gold) ACT Olympic Council LIFE MEMBERS Australian Sailing Ltd Andrew Dee (deceased) Archery Australia Inc Cate Campbell OAM OLY 2000 Sydney (1 bronze) James S W Eve MBE Shooting 2004 Athens (1 gold) Sir Harold Alderson MBE (deceased) Athletics Swimming NSW Olympic Council Australian International Shooting 2008 Beijing Sir Edgar Tanner CBE (deceased) Athletics Australia 2008 Beijing (2 bronze) Helen Brownlee AM Limited 2012 London (1 gold) William Uren CBE (deceased) Kenneth Wallace OAM OLY Badminton Skateboarding 2016 Rio (1 gold, 1 silver) QLD Olympic Council Hugh R Weir CBE OBE (deceased) Canoe/Kayak (deceased) Badminton Australia Ltd Skate Australia Inc Natalie Cook OAM OLY Herbert K Maxell 2008 Beijing (1 gold, 1 bronze) (deceased) Jamie Dwyer OAM OLY William J Young AM MBE Baseball - Softball Sport Climbing 2012 London Hockey SA Olympic Council R Horton Wallman OBE (deceased) Australian Baseball Federation Inc Sport Climbing Australia Ltd 2004 Athens (1 gold) 2016 Rio (1 bronze) Joe Stevens Jack F Howson OBE JP (deceased) Softball Australia Ltd 2008 Beijing (1 bronze) Lewis Luxton CBE OBE (deceased) Surfing Shelley Watts OLY Basketball 2012 London (1 bronze) TAS Olympic Council Julius L Patching AO OBE (deceased) Surfing Australia Ltd Boxing Basketball Australia Ltd (BA Limited) 2016 Rio Anthony Edwards OLY Thomas Blue AM BEM (deceased) 2016 Rio Table Tennis Eric G Mcrae MBE (deceased) VIC Olympic Council Boxing Table Tennis Australia Ltd Arthur Tunstall OBE JP (deceased) Boxing Australia Ltd David Wansbrough OAM OLY Geoffrey J Henke AO Taekwondo Canoeing Phillip W Coles AM Australian Taekwondo Ltd WA Olympic Council Paddle Australia Ltd Greg Kaeding R Kevan Gosper AO Tennis John D Coates AC Cycling Tennis Australia Ltd John T Devitt AM Cycling Australia Ltd Sir Donald Trescowthick AC KBE Triathlon Equestrian Peter G Montgomery AM OLY Triathlon Australia Ltd Equestrian Australia Ltd Michael V Wenden AM MBE OLY Volleyball Helen Brownlee AM Fencing Volleyball Australia Ltd Ronald G Harvey CVO AM Australian Fencing Federation Inc J Douglas Donoghue AM Weightlifting Football Ian Chesterman AM Australian Weightlifting Federation Ltd Football Federation Australia Ltd Wrestling Golf Wrestling Australia Inc Golf Australia Ltd

22 23 WINTER NATIONAL FEDERATIONS PAST OFFICE BEARERS IOC MEMBERS Biathlon 1894 – 1905 Australian Biathlon Association Inc AOC Presidents, Secretaries General, Leonard A Cuff iv CEO’s i ii & IOC Members in Australia Bobsleigh and Skeleton 1905 – 1932 Sliding Sports Australia Ltd CHAIR / PRESIDENT Richard Coombes Curling 1920 – 1944 1924 – 1944 Australian Curling Federation James Taylor CBE iii James Taylor CBE Ice Hockey 1944 – 1973 1933 – 1951 Ice Hockey Australia Ltd Sir Harold Alderson MBE Sir Harold Luxton Luge 1973 – 1977 1946 – 1975 Luge Australia Inc Sir Edgar Tanner CBE Hugh R Weir CBE OBE Skating (Ice Racing / Ice Skating) 1977 – 1985 1951 – 1974 Australian Ice Racing Inc Sydney B Grange AO OBE MVO Lewis Luxton CBE OBE Ice Skating Australia Inc 1985 – 1990 1974 – 1981 Ski & Snowboard R Kevan Gosper AO David H McKenzie AM Snow Australia 1990 – Present 1977 – 2013 Membership of the AOC also includes John D Coates AC R Kevan Gosper AO Recognised Federations, which are Australian organisations affiliated to HONORARY SECRETARY / 1982 – 2011 an International Federation governing SECRETARY GENERAL / CEO Phillip Coles AM a sport not included in the sports 1920 2000 – 2005 program of the next Olympic Games George Shand (Acting) Susan O’Neill AM OLY or the next Olympic Winter Games but admitted to membership in accordance 1921 – 1924 2001 – Present with the Constitution of the AOC by Oswald G H Merrett John D Coates AC special majority at an Annual General 1924 – 1947 2013 – Present Meeting of the AOC. Only one James S Eve MBE Recognised Organisation will be James Tomkins OAM OLY admitted for each sport. 1947 – 1973 Sir Edgar Tanner CBE IOC EXECUTIVE BOARD The following Recognised Organisations are members of the AOC: 1973 – 1985 R Kevan Gosper AO Executive Board Julius L Patching AO OBE RECOGNISED ORGANISATIONS 1986 – 1990, 1995 – 1999 1985 – 1993 Vice President Air Sport Phillip Coles AM Air Sport Australia Confederation Inc 1990 – 1994, 1999 – 2003 1993 – 1995 Bocce John D Coates AC Bocce Australia Inc Perry Crosswhite AM Executive Board 2009 – 2013 Dancesport 1995 – 2001 Vice President DanceSport Australia Ltd Craig McLatchey OAM 2013 – 2017 Netball 2001 – 2004 Netball Australia Ltd Robert Elphinston OAM NOTES i The list of office bearers includes the Orienteering 2005 – 2014 Chair/President and Honorary Secretary/ Orienteering Australia Inc Craig Phillips Secretary General of the Australian Olympic Committee’s predecessor Squash 2014 – 2016 organisations, the Australian Federated Squash Australia Ltd Fiona de Jong Olympic Council (1920) and the Australian Olympic Federation (1921- Surf Life Saving 2017 – Present 1989). Surf Life Saving Australia Ltd Matt Carroll AM ii The role of Secretary General was renamed Chief Executive Officer (CEO) Tenpin Bowling in the changes to the Constitution Tenpin Bowling Australia Ltd adopted at the AGM on 9 May 2015. iii James Taylor passed away in 1944 and Underwater Sir Harold Alderson served as Acting Australian Underwater Federation Inc Chair until 1947. Waterski and Wakeboard iv Leonard Cuff, originally from New Zealand, represented the interests of Australian Waterski and Wakeboard Australasia from 1894 until 1905. Federation Ltd

24 25 OLYMPISM IN THE COMMUNITY

26 27 OLYMPICS UNLEASHED OLYMPICS UNLEASHED MILESTONES NATIONAL REACH OLYMPISM FEBRUARY COMPLETED VISITS IN THE COMMUNITY NSW Premier Gladys Berejiklian announced the NSW Government’s intention to take Olympics Unleashed 792 to all 850 NSW high schools over two years. Over 55 Olympians and athletes are now trained in NSW, QLD STUDENTS VISITED who delivered 244 school visits to over 30,000 115,244 students in 2019 throughout the state. SA NSW ACT SCHOOL JULY REGISTRATIONS The AOC welcomed the support of Optus as they extended their partnership with the AOC to become 1,016 the presenting partner of the program. This is a significant undertaking allowing for a much broader reach and deeper impact to benefit Australia’s youth. COMPLETED STUDENTS SCHOOL VISITS VISITED REGISTRATIONS AUGUST QLD The ACT Government, along with the ACT Olympic 513 78,720 628 Council joined forces with the AOC to undertake Olympics Unleashed to reach all 135 primary and secondary schools. Thirty Olympians and athletes aspiring to Tokyo 2020 are trained to deliver the COMPLETED STUDENTS SCHOOL program. NSW VISITS VISITED REGISTRATIONS 244 30,663 323 OCTOBER The program ran a pilot in Tasmania with Ian Thorpe The AOC is committed to promoting (Swimming) presenting at Taroona High School.

Olympic values in communities and COMPLETED STUDENTS SCHOOL NOVEMBER VISITS VISITED REGISTRATIONS encourage active participation in Olympic ACT Supported by: Olympics Unleashed, presented by Optus, won the 35 5,861 62 Sports for the many associated health 7 News Community Spirit Award at the 2019 New benefits. South Wales Institute of Sport Awards in Sydney. Steven Solomon accepted the Award on behalf of the In alignment with the IOC Charter athletes involved in the program. SA COMPLETED STUDENTS SCHOOL the AOC is delighted to pursue these VISITS VISITED REGISTRATIONS objectives through national programs Olympics Unleashed, presented by Optus, takes athletes NOVEMBER 0 0 3 Marked the 500th school visit in Queensland, together with our member sports, into Australian schools, to inspire and motivate students to be their personal best by teaching students the equating to over 78,000 students since delivery Olympians, Institutes of Sport and State / importance of setting goals, overcoming challenges and started in October 2018. Over 100 Olympians and Territory Governments and Team Partners. building self-esteem. athletes are now trained in QLD. Officially launched in September 2018, the Olympics DECEMBER Unleashed program is now a reality in four Australian Minister for Education, the Hon John Gardner MP States and Territories: Queensland, New South Wales, announced the program which will reach 235 schools Australian Capital Territory and South Australia. The reach and 40,000 South Australian students visited over of Olympics Unleashed is allowing athletes to share their the next two years. Primary schools in South Australia stories throughout all metropolitan suburbs, regional now have the opportunity to experience the Olympic towns and remote communities. spirit in the lead up to Tokyo 2020. The program has quickly become the largest initiative the AOC has ever undertaken in its role of delivering The AOC thanks our program stakeholders: Optus, educational programs based on the principles and values Queensland Government and the QAS, NSW of Olympism to Australian schools. Government and NSWIS, ACT Government and ACTAS, SA Government and SASI. Athletes also benefit from the program by receiving training in presentation skills, gaining confidence to share their stories as well as being remunerated for participating.

28 29 OLYMPICS UNLEASHED PROGRESS AS AT 18TH DECEMBER 2019 MARIANNA TOLO BASKETBALL

QUEENSLAND REGIONAL BREAKDOWN I hope my story can show students that it stirred my love of the Olympics even more. doesn’t matter who you are or what your The Olympic spirit is so powerful, background is, if you keep turning up and there’s really nothing that can match it in working hard you can achieve anything you COMPLETED STUDENTS SCHOOL Australian sport and to be able to spread VISITS VISITED REGISTRATIONS set your mind to. 34 3,566 45 that feeling and inspiration is awesome. When I was a student Cathy Freeman visited FAR NORTH QUEENSLAND our school - it was such a privilege and it COMPLETED STUDENTS SCHOOL VISITS VISITED REGISTRATIONS 51 6,601 59 COMPLETED STUDENTS SCHOOL VISITS VISITED REGISTRATIONS NORTH QUEENSLAND 60 11,124 73 NORTH COAST COMPLETED STUDENTS SCHOOL VISITS VISITED REGISTRATIONS JACKIE NARRACOTT COMPLETED STUDENTS SCHOOL SKELETON 82 10,298 97 VISITS VISITED REGISTRATIONS CENTRAL QUEENSLAND 99 22,792 130 Being involved in the Olympics Unleashed was possible, and I wanted to be able to be METROPOLITAN program is without a doubt one of the best that person for this next generation. I tried COMPLETED STUDENTS SCHOOL VISITS VISITED REGISTRATIONS COMPLETED STUDENTS SCHOOL things that has come from my career as to make it so that it didn’t matter whether VISITS VISITED REGISTRATIONS 70 4,993 85 117 19,346 139 an athlete. It has enabled me to give back, the kids listening were dreaming of being DARLING DOWNS & SOUTH WEST become a better public speaker, see more athletes or scientists or artists they could SOUTH EAST of my awesome State than ever and gain take something away. an understanding of what I want to do post I think that as athletes we often get so sliding. Among many other positives, it also caught up in the day to day task of being meant I was able to become a full-time better than yesterday that we forget to NEW SOUTH WALES REGIONAL BREAKDOWN athlete; a chance that may not come again. look back at how far we’ve come. Olympics COMPLETED STUDENTS SCHOOL COMPLETED STUDENTS SCHOOL When the program was first announced Unleashed gives us that opportunity and a VISITS VISITED REGISTRATIONS VISITS VISITED REGISTRATIONS 7 751 15 26 2,752 35 I jumped at the opportunity. It was a little reminder of why we started in the first place. daunting as I’m not the greatest public NEW ENGLAND NORTH COAST I am incredibly grateful to be a part of speaker and I always used to think that Olympics Unleashed. It has given me more kids didn’t want to hear from an athlete than I ever thought it would. I went in with who hasn’t won a World Cup, World the hope of being able to help one kid COMPLETED STUDENTS SCHOOL Championship or Olympic medal. For me VISITS VISITED REGISTRATIONS achieve their dream and walked away it was a chance to show kids the reality COMPLETED STUDENTS SCHOOL 34 4,292 44 with new skills and more motivation of VISITS VISITED REGISTRATIONS of achieving your dreams and that with my own. Thank you to everyone who got 18 1,666 29 HUNTER - CENTRAL COAST persistence, resilience and determination Olympics Unleashed up and running, you WESTERN nothing is out of reach. I remember athletes have provided me with one of the most coming to speak to my school as a kid and rewarding experiences of my life. COMPLETED STUDENTS SCHOOL walking away with a feeling that it really VISITS VISITED REGISTRATIONS 15 2,566 19 COMPLETED STUDENTS SCHOOL VISITS VISITED REGISTRATIONS NORTHERN SYDNEY 16 1,779 21 COMPLETED STUDENTS SCHOOL RIVERINA VISITS VISITED REGISTRATIONS 38 4,950 49 COMPLETED STUDENTS SCHOOL VISITS VISITED REGISTRATIONS SYDNEY

21 2,156 30 COMPLETED STUDENTS SCHOOL VISITS VISITED REGISTRATIONS ILLAWARRA - SOUTH CAST 30 4,417 37 SOUTH WESTERN SYDNEY

COMPLETED STUDENTS SCHOOL VISITS VISITED REGISTRATIONS 39 5,325 44 WESTERN SYDNEY

30 31 STATE FORUMS NATIONAL SUMMIT As part of their nomination every student was invited to PARTICIPANTS attend a forum in their respective State or Territory in AUSTRALIAN CAPITAL TERRITORY September. More than 750 students attended, providing Amaroo School Gemma Steele a unique opportunity to meet like-minded students, St Clare's College Lauren Thomas share ideas and be immersed in the Olympic Movement. Daramalan College Aidan Gunning Twenty five Olympians actively participated in these events as either Masters of Ceremonies, panellists or keynote NEW SOUTH WALES speakers. Hunter Valley Grammar School Aimee Fisher The AOC would like to acknowledge the support of the Bulli High School Tyson Bricknell universities in each state who played a pivotal role in Quirindi High School Lilly Nicholls delivering and hosting the inaugural forums. Armidale Secondary College Henry Sindel Pennant Hills High School Matthew Pines Wednesday 4 September VIC Victoria University - Footscray Campus NORTHERN TERRITORY Friday 6 September Katherine High School Jaimie Bryant ACT Australian Institute of Sport Haileybury Rendall School Varaidzo Basira Tuesday 10 September NSW University of Sydney QUEENSLAND Thursday 12 September All Saints Anglican School Cullin Cooper-Jones NT Haileybury Rendall School Mackay North State High School Hayden Malone Saturday 14 September St Mary's Catholic College Kloe Dunbar-Reid QLD Griffith University - Nathan Campus Laidley State High School Maddison Adamski In 2019, the AOC launched Australian Olympic Change- Tuesday 17 September The Olympic movement encourages SA SOUTH AUSTRALIA Maker. The program recognises and rewards students who University of South Australia humanity to be the change. This simple Alessandria Raschella are demonstrating the Olympic spirit through leadership and Thursday 19 September Mercedes College WA message is demonstrated through the feats driving positive change in their communities. This can take on Curtin University Wirreanda Secondary Jaiden Tregloan Tatachilla Lutheran College Joe Vile of Olympians and is the mantra of the IOC many forms – from minor to major, and from the ordinary Tuesday 24 September to the amazing. Whether leading teams, coaching juniors, TAS to build a better world through sport. Silverdome TASMANIA supporting seniors, making a difference at a sports club, a national cause or effecting change on the world stage. Ulverstone Secondary College Murphy Knowles NATIONAL SUMMIT Oatlands District High School Samuel Banks In its first year,1,022 student leaders who are driving change in their school or local community were recognised To be considered to attend the Australian Olympic VICTORIA Change-Maker National Summit, students were required across the country. Timboon P-12 School Aimee Hose TOTAL STUDENT LEADERS to submit a one minute video actively demonstrating how Catholic Regional College, St Albans they display leadership through sport in their school or YEAR 10 YEAR 11 YEAR 12 Augustine Morris Jr local community and/or use sport as a vehicle to improve Flinders Christian Community College health and wellbeing and drive social change in their 189 244 589 Isaac James school or community. The theme for 2019 was "change". Melbourne Girls' College Cassie Carman A panel of Olympians had the difficult task to review more than 450 submissions. A final 26 students were selected WESTERN AUSTRALIA to take part in a National Summit held at the Australian Iona Presentation College Saoirse Hanavan Institute of Sport from 4-6 December. St Hilda's Anglican School for Girls Nieve Walsh Ursula Frayne Catholic College Amy Ralph The Summit was hosted by AOC partner, The Royal WA NT SA QLD NSW ACT VIC TAS Australian Mint, who also created a unique medal, with a butterfly design symbolising change, which was presented to each student. At the summit students considered YEAR 10 YEAR 10 YEAR 10 YEAR 10 YEAR 10 YEAR 10 YEAR 10 YEAR 10 issues challenging youth and sport, and delivered 20 2 11 17 43 27 24 45 recommendations to the AOC. Opposite is a list of YEAR 11 YEAR 11 YEAR 11 YEAR 11 YEAR 11 YEAR 11 YEAR 11 YEAR 11 National Summit participants all of whom will go on 31 4 26 49 70 4 54 6 to be Change-Maker ambassadors. YEAR 12 YEAR 12 YEAR 12 YEAR 12 YEAR 12 YEAR 12 YEAR 12 YEAR 12 60 5 36 141 203 5 129 10

32 33 RECOVERY ALLIANCE FOR THROUGH SPORTS RECOVERY SPORT

OLYMPIC DAY The tour was supported by a number of Olympians who shared their stories at nine schools, facilitated four Olympic Day is an opportunity to share the Olympic sporting clinics, participated in the Mid West Academy spirit and inspire the youth of the world to participate in of Sport panel discussion with athletes, coaches and sport and lead active and healthy lives. parents, presented at the Awards night and facilitated The day took on a special significance in 2019 for 50 a Girls Leadership Breakfast inspiring thousands of athletes from the 2018 Youth Olympic Team all of children across the region. whom returned to their school and were presented with • The A.S.P.I.R.E. Leadership Program is funded by Sport the Olympic flag by an Olympian recognising them as and Recreation Victoria and delivered by the AOC Youth Olympians and celebrating their achievements. in Victoria. The program aims to connect regional Presentations were also made to their schools as communities and local school students with Olympians, athletes shared their experience of competing at the to increase participation in sport and promote a Buenos Aires Youth Olympic Games. balanced and healthy lifestyle. Olympic Day was promoted in schools to encourage Eight sessions have been delivered since 2017 and active lifestyles and healthy choices via a renewed four in 2019. Each program saw more than 300 grade primary and a newly created secondary resource. Schools 5/6 students connect with local clubs and Olympians in embraced the resource and initiated their own events Bendigo, Bairnsdale, Shepparton and Leongatha. to celebrate, including 3 x 3 basketball competitions, relays, Mini Olympic events and presenting Olympic Day • Cycling Olympian Olivia Gollan participated as a guest certificates to students living the Olympic values. of the Australian Embassy in Papua New Guinea in the opening of a new 60km road. The cycling event was COMMUNITY ENGAGEMENTS held in Kavieng, New Ireland, on Saturday 9 March 2019. Olivia also participated in workshops with local • Starlight room visits continue to be important to schools and communities with the aim to inspire active ‘Recovery through Sport’ will provide long-term, genuine Olympians and a regular AOC initiative for Olympians In response to bushfires that have  and healthy lifestyles. support to Australian communities affected by the to take part in. 2019 saw 30 Olympians, visit 10 devastated communities across Australia, bushfires, harness the collective good-will and influence of hospitals across the country. • Underway in 2020 is Australian Olympic Connect the Australian Olympic Committee, bringing together Australian and Japanese schools all four organisations, their member sports, membership • Former Governor-General of Australia Peter Cosgrove for a cultural exchange where students learn from Paralympics Australia, Commonwealth base and corporate supporters to back the fund, and assist and his wife Lynne Cosgrove invited all Canberra each other through language and customs. This new Games Australia and the Australian Sports the rebuilding of communities through sport. residents and visitors to enjoy a Government House initiative will continue through to the Tokyo 2020 Foundation have formed an “Alliance” to The ‘Recovery through Sport’ fund will allow sporting Open Day on 16 March 2019. A number of Olympians Games and is called ‘TOMADACHI’ - meaning friends raise funds and provide genuine support to and community organisations and community members attended and supported the event. - to build friendships and international connections the communities called 'Recovery through who have been affected by the recent bushfires to apply between schools, communities and cities. for grants. Grants from the Alliance will be for damaged • The 2019 WA Champions 2 Country Regional Tour of Sport'. the Mid West took place from 13-16 November 2019 or destroyed sporting kit and equipment as well as sport specific apparel. visiting Geraldton and surrounding towns of Dongara, The initiative will: Mingenew, Chapman Valley and Northampton. To complement the Fund, the ‘Recovery through 1 Establish and administer a Fund for the replacement  Sport’ initiative will include Olympic, Paralympic and of sporting equipment for sport, and community Commonwealth Games athletes heading out to bushfire organisations, as well as individuals or families in affected communities through various events and some circumstances. programs to help rebuild community spirit. 2 Take athletes into affected areas to help lift community spirits.

34 35 52 INDIGENOUS AUSTRALIANS HAVE COMPETED AT THE AOC INDIGENOUS STRATEGY OLYMPIC GAMES FROM TOKYO 1964 TO PYEONGCHANG 2018, WHERE AUSTRALIA’S FIRST INDIGENOUS WINTER OLYMPIAN HARLEY WINDSOR COMPETED. The AOC has implemented a strategy to OLYMPICS UNLEASHED PRESENTED BY provide recognition and practical support to OPTUS IN INDIGENOUS COMMUNITIES AUSTRALIAN INDIGENOUS OLYMPIANS Australian Indigenous communities. The AOC’s Olympics Unleashed program has visited a number of Indigenous schools in very remote parts of MICHAEL AH MATT KYLE VANDER-KUYP ROHANEE COX The AOC has established an Indigenous Advisory Australia. These schools extend as far north as Aurukun (BASKETBALL - 1964 TOKYO) (ATHLETICS - 1996 ATLANTA, (BASKETBALL - 2008 BEIJING) Committee to provide advice and direction to accelerate (Western Cape), Mornington Island (Gulf of Carpentaria), 2000 SYDNEY) the integration of the Olympic movement into Aboriginal & Moe Island and Saibai Island (Torres Strait Islands). The ADRIAN BLAIR PAUL FLEMING Torres Strait Islander communities, as follows: program was well received in these communities with (BOXING - 1964 TOKYO) HENRY COLLINS (BOXING - 2008 BEIJING) (BOXING - 2000 SYDNEY) • integrate Indigenous Australian culture into the Olympic Aurukun State School very complimentary after their visit FRANCIS ROBERTS BENN HARRADINE (BOXING - 1964 TOKYO) (ATHLETICS - 2008 BEIJING, movement and vice versa; from Olympian Brad Hore (boxing). Olympians who have DANIEL GEALE visited remote schools have expressed a keen interest to (BOXING - 2000 SYDNEY) 2012 LONDON, 2016 RIO) • establish a Reconciliation Action Plan (RAP); ROBERT CARNEY continue participating in more of these authentic cultural (BOXING - 1968 MEXICO CITY) ANTHONY MARTIN PATRICK MILLS • pursue opportunities around the promotion of health and experiences. The delivery of Olympics Unleashed in JOSEPH DONOVAN (WEIGHTLIFTING - 2000 SYDNEY) (BASKETBALL - 2008 BEIJING, wellbeing in Indigenous communities; remote communities is a major leap forward for the AOC (BOXING - 1968 MEXICO CITY) BRIDGETTE STARR 2012 LONDON, 2016 RIO) • advocate for Indigenous Australians to be better as it demonstrates the incredible growth and reach of the (FOOTBALL - 2000 SYDNEY) JOEL CARROLL represented in Olympic sports; program. JOHN KINSELA (WRESTLING - 1968 MEXICO CITY, KASEY WEHRMAN (HOCKEY - 2012 LONDON) • promote the stories of Indigenous athletes and Olympians 1972 MUNICH) (FOOTBALL - 2000 SYDNEY) CAMERON HAMMOND to inspire Australians; INDIGENOUS MARATHON FOUNDATION NORMAN STEVENS BRADLEY HORE (BOXING - 2012 LONDON) • ensure Aboriginal and Torres Strait Islander customs are DEADLY FUN RUN, ULURU (BOXING - 1980 MOSCOW) (BOXING - 2000 SYDNEY, DAMIEN HOOPER cherished in AOC protocols; and Brad Hore (Boxing), Lou Dobson (Hockey), Lara DANNY MORSEU 2004 ATHENS) (BOXING - 2012 LONDON) • continue to work alongside organisations supporting Davenport (Swimming) and Rachael Sporn (Basketball) (BASKETBALL - 1984 LOS ANGELES, travelled to Uluru to support the 2019 Deadly Fun Run PATRICK JOHNSON BEKI LEE Indigenous Australians. 1988 SEOUL) (ATHLETICS - 2000 SYDNEY, (ATHLETICS - 2012 LONDON) Championships from 21-23 June. The Deadly Fun Run 2004 ATHENS) MEMBERS OF THE AOC INDIGENOUS Series (DFRS) is an initiative of the Indigenous Marathon DARRELL HILES JESSE ROSS ADVISORY COMMITTEE IN 2019: Foundation (IMF), founded by Olympian Robert De (BOXING - 1988 SEOUL) NATHAN THOMAS (BOXING - 2012 LONDON) / PATRICK JOHNSON (ATHLETICS) Castella. The IMF introduces running and walking in JUSTANN CRAWFORD (WATERPOLO - 2000 SYDNEY, KHALEN YOUNG 2004 ATHENS) / KYLE VANDER-KUYP (ATHLETICS) regional, remote and city communities in a fun, non- (BOXING - 1992 BARCELONA, (CYCLING - BMX - 2012 LONDON) intimidating environment for men, women and children. 1996 ATLANTA) JAMIE PITTMAN / BEKI SMITH (ATHLETICS) BROOKE PERIS The Deadly Fun Run Championships included Aboriginal ROBERT PEDEN (BOXING - 2004 ATHENS) (HOCKEY - 2016 RIO) / PAUL FLEMING (BOXING) and Torres Strait Islander runners from communities across (BOXING - 1992 BARCELONA, DEAN SEMMENS KYAH SIMON / LARA DAVENPORT (SWIMMING) Australia. Coinciding with Olympic Day, the Olympians 1996 ATLANTA) (WATERPOLO - 2004 ATHENS) (FOOTBALL - 2016 RIO) along with community representatives participated in a / NATHAN THOMAS (WATER POLO) ANTHONY LITTLE run and relay around the base of the country’s most iconic SAMANTHA RILEY LYDIA WILLIAMS / NOVA PERIS (HOCKEY, ATHLETICS) (SWIMMING - 1992 BARCELONA, (BOXING - 2004 ATHENS, Indigenous landmark, Uluru. The aim is to encourage (FOOTBALL - 2016 RIO) 1996 ATLANTA) 2008 BEIJING) / JAMIE PITTMAN (BOXING) running and physical activity as a path to resilience, health TALIQUA CLANCY / BRAD HORE (BOXING) and leadership. CATHERINE FREEMAN JADE NORTH (BEACH VOLLEYBALL - 2016 RIO) (ATHLETICS - 1992 BARCELONA, (FOOTBALL - 2004 ATHENS, / DANNY MORSEU (BASKETBALL) JOEL SWIFT 1996 ATLANTA, 2000 SYDNEY) 2008 BEIJING) (WATER POLO - 2016 RIO) BAEDEN CHOPPY STACEY PORTER JON PORCH (HOCKEY - 1996 ATLANTA) (SOFTBALL - 2004 ATHENS, (RUGBY SEVENS - 2016 RIO) NOVA PERIS-KNEEBONE 2008 BEIJING) LEILANI MITCHELL (HOCKEY, ATHLETICS - 1996 JOSHUA ROSS (BASKETBALL - 2016 RIO) ATLANTA, 2000 SYDNEY) (ATHLETICS - 2004 ATHENS, MARIAH WILLIAMS 2012 LONDON) JAMES SWAN (HOCKEY - 2016 RIO) (BOXING - 1996 ATLANTA, DESMOND ABBOTT 2000 SYDNEY) (HOCKEY - 2008 BEIJING) HARLEY WINDSOR (FIGURE SKATING - PAIRS - LUKE BOYD 2018 PYEONGCHANG) (BOXING - 2008 BEIJING)

36 37 OLYMPIAN SERVICES

38 39 OLYMPIAN SERVICES

The Australian Olympic movement is OLYMPIAN OPPORTUNITIES WELLBEING WEEK AUSTRALIAN OLYMPIANS MAGAZINE steeped in history and tradition, dating PROGRAM To further engage with our Olympians at a state and A much-loved keepsake for Olympians, the 'Australian back to our very first Olympian, Edwin The Olympian Opportunities Program (OOP) was recently national level, the inaugural Wellbeing Week took place Olympians' magazine titled ‘Back to Country’, proudly Flack. Since Flack’s historic achievements launched to empower and connect Australian Olympians from 9-13 September. Through a series of Lunch and featured the stories of Indigenous Olympians Catherine at the inaugural modern Olympic Games in beyond their athletic careers. Learn events, streamed live on Facebook, the purpose of Freeman (Athletics), Taliqua Clancy (Beach Volleyball), Brad Wellbeing Week was to demonstrate the AOC’s genuine Hore (Boxing) and Kyah Simon (Football). Athens in 1896, Australian Olympians have Whether it be determining career values and interests, a endeavour with regards to the wellbeing of Olympians and worked tirelessly to follow in his footsteps new mother returning to work or being up skilled after to promote a greater awareness of self to the wider public and represent Australia with pride. redundancy, The OOP, delivered online and face to face, is through action and social channels. the AOC’s ongoing commitment to Olympians and their

Each day the programs host, Beijing Water Polo AUSTRALIAN OLYMPIANS endeavours. AUSTRALIAN OLYMPIANS 2018 With the Tokyo Olympic Games Olympian, Amy Jones (nee Hetzel) interviewed industry AUSTRALIAN Accessible to all Olympians, the OOP aims to assist experts and Olympians through a variety of welling topics, OLYMPIANS approaching we get set to welcome 2018 Australia’s newest Olympians. The focus Olympians navigate their next career by providing tailored challenging Olympians to ‘champion’ themselves; career support. in 2019 has been to engage more with Grounded by strong mental health support with guidance Olympians and make a positive endeavour from a career coach, the OOP determines the Olympians Champion Your Body to better their wellbeing and future away best career path whilst also offering financial literacy Rob Bell (Canoe Slalom) from sport. support, mentoring and real work experience. Along with core career and wellbeing support, the OOP also encompasses Olympian engagement and connection. Champion Your Financial Opportunities Cameron Mackenzie-McHarg (Rowing) With only 3988 Australian Olympians, this pillar takes the shape of networking events and community engagement opportunities, is vital to continue the history and tradition Champion Your Loved Ones of the Olympic movement in Australia. Cate and Bronte Campbell (Swimming) + Josh and Nathan Katz (Judo)

OLYMPICS.COM.AU 2018 Champion Your Mental@AUSOLYMPICTEAM Health COUNTRY Jenna O'Hea (Basketball)

40 41 INTERNATIONAL INITIATIVES XXIII from January 25 – February 5 2020 and welcome the sports professionals from all over the world. For this INTERNATIONAL OLYMPIC ACADEMY (IOA) session, 36 students from NOCs and IFs were based at the ATHLETES' International College Management Manly (ICMS). The AOC In June, Samantha Wells (Aerial Skiing) and Grant Nel was represented by Miles Stewart (CEO, Triathlon Australia) COMMISSION (Diving) participated in the International Olympic Academy for this iteration of the program. The AOC hosted two in Olympia, Greece. Created to serve as the international dinners for the group and a number of staff members were cultural centre to preserve and spread the Olympic spirit, REPORT incorporated into the sessions. the forum sees Olympians and friends of the Olympic movement come together to exchange ideas and promote Olympic ideals. WORLD OLYMPIAN’S OLY EVENTS The World Olympians Association OLY initiative continues WORLD OLYMPIANS ASSOCIATION FORUM to grow. Close to 1,000 Australian Olympians now use the OLY post nominal. The World Olympians Association hosted a three-day The past 12 months started with an The Athletes’ Commission is also fully supportive of forum themed “Olympians for Life” in Lausanne and was Two member sports used domestic competitions to important change to the Constitution the AOC providing funding and access to the Company attended by over 150 participants from 107 National present their athletes with their OLY. Directorship Course for athletes on boards. Olympians Associations. The event also included a joint of the AOC. workshop with the International Athletes’ Forum which • During the Brisbane International Tennis Tournament, Throughout the year we have performed an advisory role At the AOC’s 2019 AGM, the IOC Athletes’ Rights and featured Australian Olympians Natalie Cook, Michelle John Millman, Sam Groth, Rennae Stubbs and Wayne for issues relating to the operation of the Tokyo Team Responsibilities Declaration was formally recognised. Ford- Eriksson, Natalie Galea, Steve Hooker, Jenni Screen Arthurs were all presented with their OLY pins on Pat including providing feedback on Charter Flights, Village Importantly, the Constitution was updated to reflect the and Ken Wallace. Rafter Arena by AOC Athletes' Commission member accommodation and out of Village accommodation, Cate Campbell. expanded role of the Athletes’ Commission to promote and Discipline and Behaviour Guidelines and post competition respect the Athletes’ Rights and Responsibilities Declaration activities and community initiatives. • At the VolleyFest 2019 Tournament in Manly, Volleyball EXECUTIVE MASTERS IN SPORT within the Olympic Movement. AND ORGANISATION MANAGEMENT Australia presented Anita Palm, Julien Prosser, Kerri Cate Campbell has been nominated as the Australian (MEMOS) Pottharst, Liane Fenwick, Taliqua Clancy, Nicole Laird An important step that ensures the athletes voice will be candidate for the IOC Athletes’ Commission, of which and Mariafe Artacho del Solar with their OLY pins. heard in relation to the critical items that are discussed elections take place during the Tokyo Games. It has been a The MEMOS mission is to assist professionals working in the Declaration. These Rights include the freedom to great resource having James Tomkins on the Commission in national or international sports bodies to develop the • At a function hosted by the Australian Olympians Club participate in sport and compete without being subject to for the past eight years providing a global perspective on knowledge required in order to better manage their of Western Australia Ken Vidler (Canoe/Kayak), Don discrimination and the right to enjoy freedom of expression. athletes’ issues. organisations. The program is supported by the IOC and Martin, Liane Tooth (Hockey), Natalie Bale (Rowing), is coordinated annually, with students coming together Jim Piper, Grant Irvine (Swimming), Amie Thompson, The Athletes’ Commission also welcomes the changes in four 10 day intensive learning sessions. MEMOS is an Rose Stackpole, Hannah Cross, Emily Rogers (Artistic to Rule 40 as a step in the right direction for athletes WE REACHED OUT TO THE international program, each participant cohort represents Swimming), Glenn Townsend, Ray Mayers, Andrew trying to leverage their personal brand and image during OLYMPIANS OF AUSTRALIA a globally diverse range of countries and cultures. The Taylor, Paul Oberman, Mark Oberman, Liz Scott, Danielle Games time. FOR ASSISTANCE IN CREATING Woodhouse, Simone Fountain and Debbie Watson AOC was delighted to host the second session of MEMOS The Athletes’ Commission worked with the AOC legal THE AUSTRALIAN OLYMPIANS (Water Polo) were all presented with their OLY pins. team to create the Rule 40 Toolkit that outlines the OATH... [TO] GALVANISE changes to the Rule as well as the ways in which athletes can promote their relationships with personal sponsors THE TEAM BOTH PAST AND during the Games. PRESENT AND INSPIRE THE We continued to have strong representation at our regional NEXT GENERATION. Athletes’ Commission Forums with Ken Wallace and Lydia Finally, as a group we reached out to the Olympians of Lassila attending the Oceania National Olympic Committee, Australia for assistance in creating the Australian Olympians Athletes’ Forum in September. Oath. We received such great feedback and believe the Members of the Commission liaised with the AOC and outcome is an Oath that can galvanise the Team both past Sport Australia to bring to life the first Champions in Chairs and present and inspire the next generation. Forum in Sydney. This was an important event bringing The Oath will be launched when the Team come together together athlete representatives from a number of sports. for the Team Reception in Tokyo and the flagbearer A key outcome of the event was to advocate for stronger is announced. We can’t wait to hear all of the 2020 athlete representation among the sports through continued Australian Olympians recite it in unison. communication, and sharing of best practice throughout the community. STEVEN HOOKER OAM OLY Chair

42 43 1994 2012 2018 AWARDS & THE HON. JOHN FAHEY AC PROF. PETER FRICKER OAM OLEGARIO VÁZQUEZ RAÑA – THE HON. BRUCE BAIRD AM President, International Shooting Sport THE HON. FRANK SARTOR AO 2013 Federation (1980 - 2018) ACKNOWLEDGEMENTS RODERICK MCGEOCH AO H.E SHEIKH AHMAD AL-FAHAD MARISOL CASADO – President, ROBERT ELPHINSTON OAM AL-SABAH International Triathlon Union (since JOHN CALVERT-JONES AM 1996 2008) RECIPIENTS OF HARRY GORDON CMG AM 1978 GARY FENTON (deceased) DR JEAN ROBERTS PETER FOX AM OLYMPIC ORDER 2019 CATHERINE FREEMAN OAM BETTY CUTHBERT AC MBE The Olympic Order is the highest GARY PEMBERTON AC ALAN GROVER (deceased) PETER MONTGOMERY AM OLY (deceased) DR THOMAS BACH OLY – President, honorary award given by the DAVID PRINCE OAM THE HON JOHN HOWARD OM AC HERB ELLIOTT AC MBE 1997 International Olympic Committee International Olympic Committee GERRY RYAN OAM (Gold) JOHN DEVITT AM (since 2013), former President (IOC). WILF BARKER (deceased) THE HON. MARJORIE NELSON DAWN FRASER AC MBE OLY 2014 of the German Olympic Sports DENNIS GREEN OAM BEM (deceased) It is awarded to “any person who has (JACKSON) AC CVO MBE OLY 1999 GINA RINEHART Confederation, Member of inaugural THE HON. MARJORIE NELSON illustrated the Olympic ideal through KERRY STOKES AC HARRY GORDON CMG AM (deceased) LAURIE LAWRENCE IOC Athletes' Commission their action, has achieved remarkable (JACKSON) AC CVO MBE OLY PHILLIP COLES AM DR. JULIO CÉSAR MAGLIONE – merit in the sporting world or has KEVAN GOSPER AO MARLENE MATHEWS AO 2001 2015 SIR WILLIAM NORTHAM CBE President, International Swimming rendered outstanding services to the HELEN BROWNLEE AM DR BRIAN SANDO OAM (deceased) DR THOMAS BACH OLY (deceased) Federation (since 2009) Olympic Movement, either through ROBERT THORNTON OLYMPIC DIPLOMA BILL ROYCROFT OBE (deceased) their own achievement or their own THE HON. MICHAEL KNIGHT AO 2016 GIAN-FRANCO KASPER – OF MERIT TOM WIGLEY (deceased) contribution to the development of SANDY HOLLWAY AO TONY COLE AO President, International Ski Federation The Olympic Diploma of Merit was sport.” MICHAEL EYERS AM (since 1998) awarded by the IOC to individuals with 1980 JIM SLOMAN OAM 2017 The following Australians have been a general reputation for merit and DR GEORGE SAUNDERS MBE JOSÉ PERURENA – President, MAURICE HOLLAND DR ROBIN MITCHELL OF awarded the Olympic Order: integrity, and who had been active (deceased) International Canoe Federation DI HENRY OAM and efficient in the service of amateur DORIS MAGEE AM MBE (deceased) (since 2008) JOHN BROWN AO DAVID RICHMOND AO 2018 sport and contributed substantially DAWN FRASER AC MBE OLY BOB LEECE AO (deceased) PAUL BATCHELOR DR. TAMÁS AJÁN – President, to the development of the Olympic 1981 SYDNEY B GRANGE AO OBE MVO MICK O’BRIEN AM ANGUS DOUGLAS International Weightlifting Federation Movement. It was awarded prior to SHIRLEY DE LA HUNTY (deceased) PETER RYAN QPM GEOFF LIPSHUT (since 2000) WILLIAM BERGE PHILLIPS OBE 1975 and the inception of the Olympic (STRICKLAND) AO MBE (deceased) PAUL MCKINNON APM RAELENE BOYLE AM, MBE DR. KLAUS SCHORMANN – (deceased) Order. LINDSAY GAZE OAM CATHERINE MURCH (FREEMAN) OAM President, International Union of JULIUS L PATCHING AO OBE 2002 The Olympic Diploma of Merit was 1985 SHANE GOULD AM MBE OLY Modern Pentathlon (since 1993) (deceased) awarded to former Prime Minister of RINO GROLLO IAN THORPE AM NORMAN GAILEY AM MBE (deceased) BETTY CUTHBERT AC MBE Australia, Sir Robert Menzies KT AK CH PETER NORMAN (deceased) PROF. DR. UGUR ERDENER – (deceased) 2003 President, World Archery Federation FRS QC (deceased) 1986 HERB ELLIOTT AC MBE DR JACQUES ROGGE 2019 (since 2005) SHANE GOULD AM MBE OLY IOC PIERRE DE NOEL WILKINSON AM BEM GENERAL SIR PETER COSGROVE FRANCESCO RICCI BITTI – GEOFFREY HENKE AO COUBERTIN MEDAL (deceased) 2005 AK CVO MC (RET’D) President, International Tennis JOHN DEVITT AM The Pierre de Coubertin Medal was COLIN COATES OLY ROSS SMITH OAM Federation (1999 – 2015) BRIAN TOBIN AM created by the IOC in 1997 and named 1987 RECIPIENTS OF THE STEPAN KERKYASHARIAN AO after Baron Pierre de Coubertin, 2006 ALISHER USMANOV – President, A BRIAN CORRIGAN AM HARRY GORDON PROF. LOWITJA O’DONOGHUE AC the founder of the modern Olympic THE HON. ROD KEMP International Fencing Federation KENNETH D FITCH AM CMG AM MEMORIAL CBE DSG Games. The medal pays tribute to THE HON. BOB ELLICOTT AC QC AWARD FOR OLYMPIC (since 2008) JOHN D COATES AC (Gold) people and organisations who through 1988 JOURNALISM MARIUS VIZER – President, THE HON. MICHAEL KNIGHT AO their teaching contribute to the 2008 SIR DONALD TRESCOWTHICK AC International Judo Federation (Gold) promotion of Olympism. TONY CHARLTON AM (deceased) 2017 KBE (since 2007) DAVID RICHMOND AO (Gold) DAVID FORDHAM (deceased) NORMAN RYDGE AM CBE OBE MIKE COLMAN SANDY HOLLWAY AO 2009 BRUCE MCAVANEY OAM DR. CHUNGWON CHOUE – JIM SLOMAN OAM President, World Taekwondo Ronald G Harvey CVO AM 1989 2018 MICHAEL EYERS AM 2009 (since 2004) JACQUELIN MAGNAY BOB LEECE AO (deceased) NORMAN MAY AM (deceased) RECIPIENTS OF MAX BECK AO DR. HASSAN MOUSTAFA – MICK O’BRIEN AM ORDER OF MERIT 1990 JOHN CONDE AO PRESIDENT’S TROPHY President, International Handball ROBERT ELPHINSTON OAM The AOC may confer the Order ROBERT GERARD AO In 2018, AOC President John Coates Federation (since 2000) MARGARET MCLENNAN MICHAEL WINNEKE (deceased) of Merit to a person who, in the AC initiated the President’s Trophy NORMAN MAY AM (deceased) THE HON. GRAHAM RICHARDSON 2010 opinion of the Executive has achieved to recognise long-serving leaders of JOHN FITZGERALD AM (deceased) remarkable merit in the sporting 1991 MICHAEL BUSHELL International Federations or other SHIRLEY DE LA HUNTY world, either through their personal DAVID CLARKE AO (deceased) organisations within the Olympic (STRICKLAND) AO MBE (deceased) JOHN STANLEY (deceased) achievement or their contribution to DR JOHN HEWSON AM Movement. Recipients must have DI HENRY OAM DAVID ZUKER OAM the development of sport. JOHN MCINTOSH served a minimum ten years.

44 45 TEAMS

46 47 2019 PACIFIC GAMES, APIA SAMOA 2019 ANOC WORLD BEACH GAMES, OLYMPIC TRAINING CENTRES The Pacific Games were held in Apia, Samoa from 7 to 20 DOHA QATAR In pursuit of Objective 3, the AOC recognises with the July 2019. Led by three-time Olympian and gold medallist The AOC was fortunate to have John Boultbee AM, as official designation as “Olympic Training Centres” and Ken Wallace OAM as Chef de Mission, the Australian Team Chef de Mission to lead Australia's inaugural ANOC World the right to display the Olympic rings, the contribution of 55 athletes competed in six sports including Athletics, Beach Games Team of 40 athletes and 18 officials in the following institutions and training centres make to Beach Volleyball, Rugby 7’s, Sailing, Taekwondo and Doha, Qatar. The Games were held from 12-16 October the development of athletes and their sports through Weightlifting. 28 officials provided support to the athletes 2019. the provision of facilities, coaching and services at the in Samoa. The Australian team adapted to the tropical highest level. A new take on the traditional Olympic schedule, the Pacific Games environment tremendously and ensured Games showcased new disciplines including 4x4 Beach Australian Institute of Sport they made the most of their experience. Volleyball, Beach Handball and Kitefoil Sailing. Australian Capital Territory Academy of Sport The Team culture of ‘giving your best, supporting your The Team competed in seven sports: Beach Volleyball, teammates, and supporting your competitors’ yielded New South Wales Institute of Sport Karate, Sailing, Swimming, Sport Climbing, Beach Handball much success with Australia bringing home 33 gold, 9 and Wakeboarding. Congratulations are extended to Northern Territory Institute of Sport silver and 14 bronze medals. History was made when the Australia’s first-ever World Beach Games medallist, Cory Taekwondo athletes swept every weight division they Olympic Winter Institute of Australia Teunissen, who won silver in the men’s Wakeboard event. competed in resulting in 15 gold medals. Queensland Academy of Sport The Beach Games allowed these sports to experience For some, the Games were pivotal in securing world their first multi-sport Games with the aim to assist their South Australian Sports Institute ranking points needed in the qualification process for preparation for future Olympic Games and motivate Tokyo 2020. Tasmanian Institute of Sport greater sporting ambitions. The Australian Pacific Games Team embraced the ‘Adopt Victorian Institute of Sport Special thanks to John Boultbee for mentoring the a Country Program’ partnering with St. Mary’s Primary Western Australian Institute of Sport School in Apia throughout the Games. The students Team with his depth of expertise being matched only by welcomed the Australian Team with a traditional Samoan the tremendous attitude and work ethic he instilled in Surfing Australia - Surfing Australia High dance performance at the flag-raising ceremony. The Australia's inaugural ANOC World Beach Games Team. Performance Centre AOC thanks St Mary’s Primary School for their support Lake Ainsworth Sport and Recreation Centre during the Games. The AOC would also like to thank the Australian High Commissioner of Samoa, HE Sara Jindabyne Sport and Recreation Centre Moriarty, who generously welcomed the Team with a Sydney Academy of Sport and Recreation reception at her residence. Sleeman Sports Complex Melbourne Sports & Aquatic Centre Lakeside Stadium State Netball and Hockey Centre, Victoria Werribee Park National Equestrian Centre

48 49 PACIFIC GAMES, ANOC WORLD BEACH GAMES, APIA SAMOA DOHA QATAR

BEACH VOLLEYBALL WOMEN 76KG HAMMER THROW BEACH HANDBALL BOULDERING  Stephanie Davies Snatch: Bronze Alexandra Hulley Gold (64.37m –   Clean & Jerk: Silver Pacific Games record) MEN MEN MEN Total: Bronze Tim Dickson & Scott Nicholson Campbell Harrison 19th Marcus Ferguson Gold Christopher Mottin

TRIPLE JUMP Lucas Turecek WOMEN 87KG WOMEN WOMEN Emmanuel Fakiye DNF Nicholas Gallaugher Kaitlyn Fassina Snatch: Gold Jon Robson Oceania Mackenzie 17th Britt Kendall & Clean & Jerk: Gold Stef Weiler 5th Christopher Pinder Total: Gold Johnathon Stock TAEKWONDO Adis Skopljak KARATE KATA Charisma Snatch: Bronze Daniel Fogerty  WOMEN -46KG SAILING Amoe-Tarrant Clean & Jerk: 4th Jonathan Morley 8th Serena Stevens Gold  Total: 4th MEN MIXED HOBIE CAT Shaun Yuen 17th Sarah Hoffman & WOMEN WOMEN 46-49KG Heather Cooper Thomas Dawson 4th MEN 96KG Tamzin Christoffel Gold Nicole Back WOMEN Ridge Barredo Snatch: 4th Tanya-Marie Beths Ioanna-Maria Sampani 17th WOMEN LASER Clean & Jerk: 4th WOMEN 49-53KG Rosalie Boyd Paris Van Den Herik Bronze Total: 4th Yasmina Hibic Gold Allira Hudson-Gofers Madeleine McAfee KITEFOIL RACING Vanja Smiljanic  MEN LASER MEN 89KG WOMEN 53-57KG Will Sargent Bronze Carmen Marton Gold Claudia Mitchell WOMEN Boris Elesin Snatch: Silver Kayla Zissler Breiana Whitehead 4th Clean & Jerk: Silver Aline Viana 11th Total: Silver WOMEN 57-62KG Natalie Flintrop 8th RUGBY 7s Rebecca Murray Gold  Joel Gregson Snatch: Bronze Lauren Brown, Madison Clean & Jerk: Bronze BEACH VOLLEYBALL Higgins-Ashby, Page Mcgregor, Total: Bronze WOMEN 62-67KG  OPEN WATER Cass Staples, Yasmin Meakes, Ruth Hock Gold 4X4  Rhiannon Byers, Jakiya SWIMMING 5KM Whitfeld, Hagigi Mosby, MEN 109KG MEN Charlotte Kennington, Kennedy Matthew Snatch: Silver WOMEN 67-73KG Timothy Dickson MEN Cherrington, Darcie Morrison, Lydement Clean & Jerk: 6th Chelsea Hobday Gold Marcus Ferguson Bailey Armstrong 14th Kahli Henwood Silver Total: 4th Mark Nicolaidis Connor O’Neill Jackson Snatch: 4th WOMEN +73KG Max Guehrer WOMEN Roberts-Young Clean & Jerk: Bronze Reba Stewart Gold Jonathan Hunt 5th Mackenzie Brazier 16th WEIGHT LIFTING Total: Bronze  MEN -54KG Mackenzie Singleton Gold WOMEN WOMEN 59KG MEN 73KG Brittany Kendall Seen Lee Snatch: Bronze Brandon Snatch: Silver WAKEBOARD Stef Weiler  Clean & Jerk: Bronze Wakeling Clean & Jerk: Gold MEN 54-58KG Christine Jenkins MEN Total: Bronze Total: Gold Safwan Khalil Gold Johannah Rohkamper Cory Teunissen Silver Erika Yamasaki Snatch: Gold Alisha Stevens 4th Clean & Jerk: Gold MEN 58-63KG Total: Gold ATHLETICS Damon Cavey Gold WOMEN 64KG 400M MEN 63-68KG Kiana Elliott Snatch: Gold Steven Solomon Gold (54.62 – Thomas Afonczenko Gold Clean & Jerk: Gold Pacific Games record) Total: Gold MEN 68-74KG 800M Sarah Cochrane Snatch: Silver Leon Sejranovic Gold Keely Small Gold (2:10.53 – Clean & Jerk: Bronze Pacific Games record) Total: Silver MEN 74-80KG Jack Marton Gold 100M HURDLES WOMEN 71KG Brianna Beahan Gold (13.17 – Ebony Gorincu Snatch: Gold Pacific Games record) MEN'S +87KG Clean & Jerk: No lift Alan Salek Gold Total: N/A 400M HURDLES Ian Dewhurst Gold (50.85 – Pacific Games record)

50 51 SPORTS MEDICINE & OLYMPIC WINTER ATHLETE SUPPORT SERVICES The Winter Sports National Performance Support INSTITUTE OF AUSTRALIA Network was finalised in early 2019 to centralise the delivery of world class performance support to winter sports Institute athletes through a collaborative and individualised case management approach across the disciplines of injury management, sports medicine, INTERNATIONAL WATER JUMP RAMP physiotherapy, nutrition, strength and conditioning, and Brisbane will be home to the southern hemisphere’s sport psychology. first year-round freestyle ski-jumping facility to be built at the Sleeman Sports Complex in Chandler. The $6.5 The National Network model continues to evolve and million International Freestyle Skiing Training Facility is expand in its delivery of best practice performance support a collaboration between the AOC, OWIA, the Federal services to high performance winter sports athletes, in Government through Sport Australia, and the Queensland partnership with the AIS, NSWIS, VIS and Snow Australia. Government. Athlete Wellbeing and Engagement (AW&E) is a key At the elite level the water jump will eliminate a competitive priority for the OWIA as evidenced by the Winter Sports disadvantage, allowing Australian athletes to train at home National Performance Support Network welcoming and enable a talent pathway to identify and develop talent AW&E representation into its delivery model in 2019. from the grassroots up, ensuring winter sports continued The H3 Summit is a feature as an annual event on the success. Aerial and mogul skiers have provided eight of OWIA calendar with the purpose of enhancing the health, Australia’s 15 medals at the Olympic Winter Games, happiness and high-performance aspirations of the Winter including three gold. This facility will allow Queensland to Sports community. become the critical development hub for future Olympic Athlete service engagement has increased over the past champions. COMPETITION China and Switzerland at Copper Mountain, Secret Garden 12 months, offering athletes personal and professional Colliers International were appointed as the project and Laax and pro events the X-Games in Aspen and the development opportunities to ensure they thrive and Australia’s winter sports athletes made an exceptional manager in early 2019 and Buildcorp were secured as the Dew Tour in Colorado. contribute to the community during their time in high start to 2019, with three medals won at the Freestyle and major contractor. Construction began on site during June Aerial skier Laura Peel earned four World Cup medals performance sport, as well as setting them on the path to a Snowboard World Championships in Utah, USA. and the expected completion date is April / May 2021. including two victories in Belarus and Russia, in an positive transition into life after sport. Scotty James recorded a historic snowboard half pipe amazing season performing extremely difficult triple back The Sport Development Manager role was created in World Championship gold medal three peat, becoming the somersaults for the first time. Teammate Abbey Willcox January 2019. The role provides strategic support to OLYMPIC TRAINING CENTRE only male in history to achieve the feat in any snowboard also won the first World Cup medal of her career, claiming AOC member sports; Australian Biathlon Association, The recently upgraded Olympic Training Centre at Mt event. Mogul skiers Matthew Graham and Jakara Anthony bronze at the prestigious Deer Valley, USA event. also claimed silver, recording the first World Championship Australian Curling Federation, Ice Hockey Australia, Luge Buller is a partnership between the OWIA, the Mt Buller medals of their careers. Five World Cup medals were won by mogul skiing athletes. Australia and Sliding Sports Australia. Support includes and Mt Stirling Alpine Resort Management Board, Buller Britt Cox skied to a bronze medal at the opening World facilitated strategic planning workshops and strategic Ski Lifts and Snow Australia. In May 2019, the facility was Ahead of the 2022 Beijing Olympic Winter Games, Cup of the season in Ruka, Finland, and Jakara Anthony plan development, AOC High Performance Funding further enhanced with the installation of lights on both the many of Australia’s athletes competed in test events was in great form in the back half of the season taking with great success. Podium performances were achieved applications, provision of governance and administrative mogul and aerial skiing courses allowing for on snow night home four medals in her final five events in USA, Japan, templates, and attendance at key events. training and competition. The accommodation, acrobatic at the future Olympic site, with Scotty James winning Kazakhstan and Russia. snowboard halfpipe gold at the Secret Garden venue, and and excellent snow training facilities were used extensively Jakara Anthony recording a podium performance at the Belle Brockhoff completed a super successful return by high performance aerial skiing, mogul skiing and neighbouring Thaiwoo resort. to sport after two successive injuries, with podium snowboard cross athletes and pathway programs in 2019. performances at five of the six World Cup events, At the end of the 2019/20 World Cup season, Australia highlighted by a victory on day two at Big White in Canada. had two athletes ranked number one in the world and two Cameron Bolton also made it onto the podium at the athletes ranked second at the end of the winter. Scotty opening event of the season in Montafon, Austria, and James won the third World Cup crown of his career while Adam Dickson claimed the first World Cup medal of his Laura Peel became the first Australian aerial skier since career, taking bronze at the final in Veysonnaz, Switzerland. Lydia Lassila in 2009 to win a World Cup title. Jakara Anthony and Belle Brockhoff had personal best seasons to Nineteen year old Tess Coady made her comeback to finish runner up on the final standings. competition after injuring her knee during the 2018 Olympic Winter Games and became the first Australian to Scotty James again dominated the world stage, winning win a World Cup snowboard slopestyle event, with a gold five times and landing on the podium at all seven events medal at Seiser Alm in Italy in January. during his season. James won World Cup events in USA,

52 53 TEAMS

MEDICAL COMMISSION REPORT

The major focus of the Medical Commission The MC undertook a review and subsequent endorsement (MC) has been the preparation of clinical of the Policy on the management of hypnotics (specifically zolpidem, nitrazepam, and flunitrazepam, which are not to services for the Tokyo 2020 Australian be prescribed or used). A supplements policy developed by Olympic Team and Lausanne 2020 Winter the AIS was endorsed. This specifically addresses the risk Youth Olympic Team as well as confirming of supplements with respect to antidoping provisions. a number of medical services appointments The MC recommended, and the AOC endorsed, the for both teams. appointments of Dr Mathew Mooney as Medical Services Lead, and Dr Jordan Young, as general practitioner, Matters considered by the MC included a proposal to together with physiotherapists Michael Brierley and Clare support a research program involving Olympic athletes Polansky, to the 2019 Samoa Pacific Games Team. as subjects. The proposal sought to use an additional Similarly, the AOC, through the MC, appointed Dr Pip Inge specialised screening protocol as a part of Olympic athlete and physiotherapist Lauren Dixon to the 2019 ANOC screening. This was not supported as the practice to date World Beach Games Team. has been not to undertake research on Olympic athletes at, and around, the time of Olympic competition, as this It was noted that Dr Peter Fricker had been appointed to may provide an unwelcome distraction from the pursuit of the Medical Commission of the Oceania National Olympic Olympic success. Committees (ONOC) in 2017. In April 2019 Dr Fricker visited Samoa with the ONOC MC to assist the Pacific Games organisers with planning of medical services, including emergency services, to be provided at the Pacific Games in Samoa during July 2019.. My personal thanks, and those of the MC, go to AOC staff who have been wonderful in their support of the Medical Commission. It is greatly appreciated.

DR PETER FRICKER OAM Chair

54 55 ATHLETE AND NATIONAL FEDERATION FUNDING

56 57 ATHLETE & NATIONAL FEDERATION FUNDING

In support of the objectives of education, This consists of direct funding to Benchmark Event OLYMPIC SOLIDARITY NATIONAL FEDERATION FUNDING health and wellbeing initiatives and medallists under the AOC Medal Incentive Funding and High-Performance funding to NFs receiving less than Olympic Solidarity, the development arm of the The AOC provides funding for sports which receive preparation of the AOC’s Olympic, Olympic $100,000 p.a. from the Australian Institute of Sport. IOC, provides technical and financial support for the less than $100,000 on an annual basis from the AIS in Winter, Youth Olympic, Youth Olympic development of sport through programs devised to match high performance funding. Total funding provided was Winter and Regional Teams funding MEDAL INCENTIVE FUNDING specific sports needs and priorities. $284,225. was provided to athletes and National The Medal Incentive Funding (MIF) program provides The AOC receives this support directly from Olympic Funding was also provided to those sports that have Federations as set out in the Guidelines support directly to potential Olympic and Olympic Winter Solidarity and through its Continental Association, Oceania delegates on the executive of International Sporting Games medallists. This year, $2,455,000 was provided to National Olympic Committees (ONOC). Federations on the Olympic program. Total funding was approved by the Executive in consultation 197 athletes across 18 Summer sports and to 3 athletes $19,000. During 2019, the AOC and its member NFs received across Winter sports. This is a significant increase from with the Athletes’ Commission. assistance from Olympic Solidarity for the following $1,743,000 distributed to 126 athletes in 2018. 2019 SOLIDARITY & initiatives: NATIONAL FEDERATION FUNDING Athletes were eligible to receive 2019 funding by achieving • National Activities Programs – Archery, Artistic medal winning results at the 2018 Benchmark Events. 0 5 10 15 20 25 30 35 40 45 50 Swimming, Beach Volleyball, Curling, Diving, Karate, ARCHERY 14 Roller Sports, Rowing, Shooting, Sports Climbing, BIATHLON 28 Table Tennis, Triathlon, Weightlifting BOBSLEIGH/SKELETON 22 BASEBALL/SOFTBALL 21 2019 MEDAL INCENTIVE FUNDING $2,455K - 197 ATHLETES • Equipment Grants – Baseball, Beach Volleyball, CANOE 5 Canoeing, Cycling, Rowing, Sports Climbing CROSS COUNTRY SKIING 3 CURLING 3 21 $'000 ATHLETES • Team Support Grant – Softball CROSS COUNTRY SKIING CYCLING 3 500 35 • Technical Courses for Coaches – Judo FOOTBALL - MEN 455 GOLF 3 450 • Youth Olympic Games Team Support Grant HANDBALL 35 30 JUDO • Promotion of Olympic Values 400 KARATE 20 6 LUGE 23 350 25 Total Olympic Solidarity funding was $637,000. ROWING 9 320 SAILING 19 285 In addition, ten Australian athletes preparing for the SHOOTING 300 8 270 20 Beijing Olympic Winter Games and four Australian SKATEBOARDING 8 SNOWBOARD 46 250 athletes preparing for the Tokyo Olympic Games benefited SPORT CLIMBING 18 25 180 165 15 from support through an Olympic Solidarity scholarship VOLLEYBALL - BEACH 11 200 VOLLEYBALL - MEN 4 160 program. These athletes received a monthly subsidy to WEIGHTLIFTING 2 150 WRESTLING 120 10 help with expenses relating to their qualification and 29 110 OTHER 16 100 participation at the Games. 65 65 40 5 OLYMPIC SOLIDARITY PROGRAMS $281K INT'L MEETS 30 45 35 20 $288K $19K 50 30 20 20 20

0 0 DIVING X 4 CANOE X 1 SAILING X 3 SURFING X 2 ARCHERY X 3 HOCKEY X 27 CYCLING X 16 ROWING X 32 ATHLETICS X 4 TRIATHLON X 4 SWIMMING X 18 SNOWBOARD X 1 SKATEBOARDING X 2 FREESTYLE SKIING X 2 WATERPOLO - MEN X 13 VOLLEYBALL - BEACH X 2 FOOTBALL - WOMEN X 23 BASKETBALL - WOMEN X 12 WATERPOLO - WOMEN X 13 RUGBY SEVENS - WOMEN X 15

58 59 FUNDING THE AUSTRALIAN $32M GAMES INCLUDES OLYMPICS OLYMPIC MOVEMENT & YOUTH OLYMPICS (SUMMER, WINTER) AND OTHER REGIONAL GAMES

The AOC is funded through commercial GRANTS 2020 OLYMPIAD REVENUE PROJECTIONS $122.4M $18M partnerships, Team Appeal, IOC Solidarity As a National Olympic Committee, the AOC has access ATHLETES & NFs INCL. MEDAL and distributions from the Australian to IOC Solidarity and other grants. Solidarity funds are 1% INCENTIVE FUNDING, DIRECT Olympic Foundation. The Committee for specific programs such as coach education, athlete SUPPORT FOR NF PROGRAMS, AND ALUMNI SUPPORT neither seeks nor receives any Federal scholarships and community education programs. The 4% funds provided are acquitted to the IOC. Government funding. 10% Other grants are provided by the IOC, Organising Committees of the Olympic Games and Oceania National COMMERCIAL PROGRAM Olympic Committees for administration, Olympic team $9M The AOC’s commercial program falls into two categories support and sport programs. – partners and suppliers. Partners include the IOC’s 58% 27% COMMUNITY ENGAGEMENT The AOC works with State Governments and other bodies Worldwide Olympic Partner Program (TOP) and Australian PROGRAMS – PROMOTING to co-invest in education programs in schools across the Olympic partners. Each have exclusivity in their category OLYMPISM THROUGH EDUCATION country, for which the AOC receives various grants to fund and the rights to activate their sponsorships with the AND ADVOCACY PROGRAMS program expenditure. AOC’s assets throughout Australia. These sponsors provide cash, products and services to the Australian Olympic teams and the AOC. AUSTRALIAN OLYMPIC FOUNDATION After the 2000 Sydney Olympic Games a legacy fund $70.8M COMMERCIAL $12M FUNDRAISING OTHER TEAM APPEAL of $88.5m was established as the capital base of the PARTNERS (GROSS) Australian Olympic Foundation (AOF). Since its founding $33.4M AOF $5.1M GRANTS $25M In co-operation with and support of the State & Territory the Foundation has grown its net assets to $172.2m at 31 Olympic Councils and State & Territory Team Appeal DIRECT COSTS OF COMMISSIONS, December 2019. Committees, the AOC conducts a National Team Appeal SERVICING, MARKETING AND during each Olympiad. The funds are raised through Gala During that same period the AOF has provided $128.7m FUNDRAISING COST OF SALES dinners and other events held in each state and territory in distributions to the AOC. The AOF aims to provide OLYMPIC INVESTMENT 2017-2020 which are supported by companies and individuals. State minimum distributions of $25m per quadrennium. The and Territory Governments also make significant donations Foundation remains a very long-term investor – intended to the Appeal. to assist in financing the AOC’s activities well into the future. The funds raised are used for the sole purpose of sending 19% $10M 27% the Australian Team to the Games. Monies raised do not Total revenue of $122.4m is projected for the current TECHNOLOGY & COMMUNICATIONS contribute to the AOC’s operations. 2020 Olympiad. – INVESTMENT IN INFRASTRUCTURE The target for the Appeal in this Olympiad is a minimum 9% AND SUPPORT TO DELIVER OLYMPIC of $12 million in gross proceeds. ACTIVITIES.

15% 22% 8% $22.3M SUPPORT SERVICE COMPRISING COSTS OF CORPORATE SERVICES, GAMES ATHLETES & NFs SUPPORT AOC EXECUTIVE, PROPERTY AND DIRECT TECHNOLOGY & COMMUNITY COSTS COMMUNICATIONS ENGAGEMENT FINANCING COSTS.

60 61 PARTNERS’ OLYMPIC ACTIVATIONS

AUSTRALIA'S OLYMPIC PARTNERS BRIDGESTONE FIRST TO LAUNCH CAMPAIGN Bridgestone were the first sponsor to launch their Elastoplast has signed on as the Official Supplier of Tapes, Australian campaign for the Tokyo 2020 Games. They Plasters, Bandages and Wound Care (including First Aid conducted the first in their series of community activations and Braces) providing important care supplies for the with ambassador and Basketball Olympian Joe Ingles The AOC wishes to thank all of its' Partners, AOC’s medical team to treat our athletes. unveiling a re-generated basketball court in Western Suppliers and Licensees who are assisting Sydney to support their ‘Chase Your Dreams’ campaign. Australia’s athletes realise their dream of competing at the Olympic Games. The AOC YoPRO – Danone was secured as the Official Yoghurt of QANTAS HOSTED ONE YEAR TO GO LAUNCH Crumpler as Official Luggage supplier for the 2020 the Australian Olympic Team in August 2019. They have Fifteen sponsors were represented at the 1 Year to Go Commercial Program for Tokyo 2020 will Australian Olympic team will design a bespoke collection launched an engaging campaign with several Australian event held at Qantas’ head office in Mascot. This event be the largest sponsorship program ever for competitors to take to Tokyo next year. It’s the Ambassadors including Mitch Morgan who was used in the provided a great opportunity for the AOC to engage them second time the Melbourne-based luggage brand has achieved, for an offshore Games. launch video. YoPRO are also innovating with a licensed in the countdown and the planning of their own campaigns. been selected to kit out the country’s athletes for the Today, the AOC is supported by 31 product, a new limited edition yoghurt. Olympic Games. OLYMPICS UNLEASHED PRESENTED BY OPTUS Partners, 11 Suppliers and 4 Licensees. Optus became the presenting partner of the AOC’s new The AOC is grateful of their support LICENSING community program Olympics Unleashed. To date Optus and looks forward to ensuring they get Velocity Brand Management (VBM) – the AOC’s online has played an important role in the Olympians’ stories reaching over 120,000 kids in nearly 1,000 schools the most out of their partnership with The sponsorship deal with the Royal Australian Mint has store launched at the end of 2019 and is already across Queensland, NSW, SA and the ACT. In November, now been executed to support the team for their second distributing supporter gear to Australians. VBM are Australia’s largest and most popular team. the Executive Leadership Team from Optus attended Summer Games. having great success with their sport specific supporting merchandise range and are working directly with National an Olympics Unleashed session in Mackay. This played A spectacular licensing range celebrating the 2020 AUSTRALIAN OLYMPIC TEAM PARTNER Federations to promote this to Team supporters. an important role in demonstrating the strength of the ANNOUNCEMENTS Australian Olympic Team has been designed by the program and the value their sponsorship plays. Royal Australian Mint. We are thrilled that they are again The first online store promotion was Fan-Tastic February The AOC's commercial partnerships continued to grow undertaking a commemorative coin program. pushing out to Australian fans in a strategic push to with the following agreements and activations: maximise the profile with all stakeholders. SPONSOR PLANNING WORKSHOPS The Royal Australian Mint also provided great support to the Australian Olympic Change Maker Program for COLLABORATION SESSIONS 2019, hosting a National Summit and presenting 26 The AOC Commercial team conducted a number of student participants with a unique medal symbolising successful collaborative sessions with sponsors. These change and created especially for this program. have been so successful, more are being planned. They’ve Airbnb is the newest member of the IOC's TOP sponsor included a Sponsor Workshop with over 100 people in program from 2021 due to the Australian market being attendance, an Apparel Partners’ workshop, and FMCG an early adopter of Airbnb and a priority market, they Partners’ workshop. have joined the AOC as a local Partner for 2020. Airbnb are working with the AOC to find ways to bring Australian APPAREL SESSION athletes together in their new category of ‘experiences’ Hanes through their Jockey brand has joined as an Official In September ASICS hosted our Official Apparel Partners which they hope will provide financial support for athletes Supplier in the category of underwear and sleepwear. They and Suppliers for a collaborative Think Tank in their whilst they train and compete. launched their campaign with athletes, Chloe and Max Esposito, Ken Wallace, Morgan Mitchell, all of whom will Melbourne showroom. Those who attended were: ASICS, The aim of the Airbnb TOP partnership is to provide appear in catalogues nation-wide. Speedo, Sportscraft, Volley, Crumpler, Stuck On You, Cargo “travel options that are economically empowering, socially Live & Jockey. The event was a resounding success with inclusive and environmentally sustainable”. all Sponsors sharing their designs, samples and marketing plans openly with one another.

Volley is proud to be the Official Supplier of Footwear for FMCG SESSION the Australian Olympic Team at the 2020 Tokyo Olympic AOC Partner NewsCorp were a welcoming host to the Global insurance giant Allianz was announced as an IOC Games Opening and Closing Ceremonies. AOC for the FMCG Partners’ collaboration session which TOP Partner from 2021 to 2028. They will activate in brought together Woolworths, YoPRO, P&G, Coca Cola, a limited number of advanced test markets including The Royal Australian Mint, MLA, Optus & JC Decaux. Australia with the 2020 Australian Olympic Team. All sponsors found the insights and learnings from one another very beneficial.

62 63 FUNDING THE AUSTRALIAN OLYMPIC MOVEMENT ANNUAL REPORT 2019 2020 AUSTRALIAN OLYMPIC 2020 COMMITTEE PARTNERS PROUD& P ARTNERSSUPPLIERS

PROUD PARTNERS

PARTNERS

SPONSOR HUB & APPROVALS SYSTEM OUTFITTING & In the interest of finding greater efficiencies and moving to UNIFORM DISTRIBUTION a digital partner approval system, the AOC has introduced It is with great pride and appreciation that the AOC and the a new online portal to assist sponsors in their Olympic Australian Olympic Team, receive support from uniform planning. Useful information is easily accessible on the portal, sponsors and suppliers. The design, approval, procurement, along with the introduction of a system which will streamline supply and uniforming of one of the largest Olympic Teams the heavy approvals process for partner servicing. represented at the Games is a major undertaking. All uniform items from our sponsors have been designed TEAM PARTICIPATION CAMPAIGN and ordered with production in progress for delivery in Tokyo. Team processing sessions were held around the country including at Samsung’s HQ in Sydney, to help capture sizes of prospective athletes to help the ordering process. In the last 12 months a total of 200 athletes and officials were also outfitted for the following events including Samoa 2019 Pacific Games, Qatar 2019 ANOC World Beach Games & Lausanne 2020 Winter Youth Olympic Games. The AOC is very grateful to have secured significant support from Seven, NewsCorp, JC Decaux and M&C Saatchi. These Partners are collaborating to provide extensive resource and support in the form of media airtime, print, digital and outdoor advertising to enable the AOC to bring to life the Games-time campaign. M&C Saatchi Sports and Entertainment have created the campaign which will amplify a call to action to all Australians with the aim of increasing participation in Olympic Sports. PROUD SUPPLIERS PROUDSUPPLIERS SUPPLIERS

AIRWEAVE \ CARGO LIVE \ CONCIERGE BUSINESS TRAVEL \ CRUMPLER \ ELASTOPLAST AIRWEAVE \ CARGO LIVE \ CONCIERGE BUSINESS TRAVEL \ CRUMPLER \ ELASTOPLAST AIRWEAGETTYVE \IMAGES CARGO \ ISENTIA LIVE \ \JOCKEY CONCIERGE \ SPORTSCRAFT BUSINES \ STUCKS TRA ONVEL YOU \ \ VOLLEYCRUMPLER \ ELASTOPLAST GETTY IMAGES \ ISENTIA \ JOCKEY \ SPORTSCRAFT \ STUCK ON YOU \ VOLLEY GETTY IMAGES \ ISENTIA \ JOCKEY \ SPORTSCRAFT \ STUCK ON YOU \ VOLLEY

64 65 AUSTRALIA'S OLYMPIC HISTORY

66 67 1964 Neil Brooks, Peter Evans, Mark Kerry, 1996 Mark Tonelli - 4x100m Medley Relay AUSTRALIA'S TOKYO, JAPAN ATLANTA, USA Athletics 1984 Equestrian OLYMPIC CHAMPIONS Betty Cuthbert - 400m Phillip Dutton, Andrew Hoy, Gillian

LOS ANGELES, USA Rolton, Wendy Schaeffer - Three Day Swimming Athletics Event Team Kevin Berry - 200m Butterfly; Glynis Nunn - Heptathlon 1896 Diving Swimming Dawn Fraser - 100m Freestyle; Hockey (Women) Richmond ‘Dick’ Eve - Plain High Dive John Davies - 200m Breaststroke Ian O’Brien - 200m Breaststroke; Cycling Alyson Annan, Louise Dobson, ATHENS, GREECE Robert Windle - 1500m Freestyle Michael Grenda, Kevin Nichols, Renita Farrell, Juliet Haslam, Rechelle Athletics Swimming Michael Turtur, Dean Woods - 4000m Hawkes, Clover Maitland, Karen 1956 Yachting Edwin Flack - 800m, 1500m Andrew ‘Boy’ Charlton - 1500m Team Pursuit Marsden, Michelle Andrews, Jennifer William Northam, Peter O’Donnell, Freestyle MELBOURNE, AUSTRALIA Morris, Jacqueline Pereira, Nova Dick Sargeant - 5.5 Metre Class Swimming Athletics Peris-Kneebone, Katrina Powell, Lisa 1900 Jon Sieben - 200m Butterfly 1928 Betty Cuthbert - 100m, 200m; Powell, Danielle Roche, Kate Starre, PARIS, FRANCE 1968 Liane Tooth AMSTERDAM, Shirley Strickland - 80m Hurdles; Weightlifting Swimming NETHERLANDS Norma Croker, Betty Cuthbert, Fleur MEXICO CITY, Dean Lukin - Super Heavyweight Rowing Fred Lane - 200m Freestyle, 200m Mellor, Shirley Strickland - 4 x 100m Rowing MEXICO Drew Ginn, Nicholas Green, Michael Obstacle Race Relay Henry ‘Bobby’ Pearce - Single Scull Athletics 1988 McKay, James Tomkins - Four; Cycling Kate Slatter, Megan Still - Pair 1904 Maureen Caird - 80m Hurdles; SEOUL, KOREA Ian Browne, Anthony Marchant – Ralph Doubell - 800m 1932 Shooting Tandem Cycling Athletics ST LOUIS, USA Michael Diamond – Trap; No gold medals won LOS ANGELES, USA Swimming Debbie Flintoff-King - 400m Hurdles Swimming Lynette McClements - 100m Russell Mark - Double Trap Cycling Hockey (Women) Lorraine Crapp - 400m Freestyle; Butterfly; 1908 Edgar ‘Dunc’ Gray – 1km Time Trial Tracy Belbin, Deborah Bowman, Swimming Dawn Fraser - 100m Freestyle; Michael Wenden - 100m Freestyle, Michelle Capes, Lee Capes, Sally Susan O’Neill - 200m Butterfly; Rowing Jon Henricks - 100m Freestyle; 200m Freestyle LONDON, GREAT BRITAIN Carbon, Elspeth Clement, Loretta Kieren Perkins - 1500m Freestyle Henry ‘Bobby’ Pearce - Single Scull Murray Rose - 400m Freestyle, Rugby Union Dorman, Maree Fish, Rechelle Hawkes, 1500m Freestyle; Tennis John Barnett, Phillip Carmichael, Swimming 1972 Lorraine Hillas, Kathleen Partridge, David Theile - 100m Backstroke; Todd Woodbridge, Mark Woodforde Daniel Carroll, Robert Craig, Thomas Clare Dennis - 200m Breaststroke Sharon Patmore, Jacqueline Pereira, John Devitt, Jon Henricks, Kevin MUNICH, – Doubles Griffin, John Hickey, Malcolm Sandra Pisani, Kim Small, Liane Tooth O’Halloran, Murray Rose - 4 x 200m McArthur, Arthur McCabe, Patrick WEST GERMANY 1936 Freestyle Relay; Swimming 2000 McCue, Christopher McKivat Swimming Lorraine Crapp, Dawn Fraser, Faith Duncan Armstrong - 200m Freestyle (captain), Charles McMurtrie, Sydney BERLIN, GERMANY Brad Cooper - 400m Freestyle; SYDNEY, AUSTRALIA Leech, Sandra Morgan - 4 x 100m Middleton, Thomas Richards, Charles No gold medals won Shane Gould - 200m Freestyle, 400m Archery Freestyle Relay Freestyle, 200m Individual Medley; 1992 Russell, Frank Bede Smith Simon Fairweather - Individual 1948 Gail Neall - 400m Individual Medley; BARCELONA, SPAIN 1960 Beverley Whitfield - 200m Athletics 1912 Canoe / Kayak LONDON, GREAT Breaststroke Catherine Freeman - 400m STOCKHOLM, SWEDEN BRITAIN ROME, ITALY Clint Robinson - K1 1000m Yachting Athletics Athletics Beach Volleyball Swimming Thomas Anderson, John Cuneo, John Cycling John Winter - High Jump Herb Elliott - 1500m Natalie Cook, Kerri-Ann Pottharst Sarah ‘Fanny’ Durack - 100m Freestyle; Shaw - Dragon Class; Kathryn Watt - Road Race Les Boardman, Harold Hardwick, Rowing Equestrian Cycling John Anderson, David Forbes - Star Equestrian Cecil Healy, Malcolm Champion (NZ) Mervyn Wood - Single Scull Lawrence Morgan - Three Day Event Class Brett Aitken, Scott McGrory - Matthew Ryan - Three Day Event - Men’s 4 x 200m Freestyle Relay Individual; Madison Individual; 1952 Neale Lavis, Lawrence Morgan, Bill 1976 Andrew Hoy, Gillian Rolton, Matthew Equestrian 1920 Roycroft - Three Day Event Team HELSINKI, FINLAND Ryan - Three Day Event Team Phillip Dutton, Andrew Hoy, Matthew MONTREAL, CANADA Swimming Ryan, Stuart Tinney - Three Day ANTWERP, BELGIUM Athletics No gold medals won Rowing No gold medals won John Devitt - 100m Freestyle; Event Team Marjorie Jackson - 100m, 200m; Peter Antonie, Stephen Hawkins - Dawn Fraser - 100m Freestyle; Shirley Strickland - 80m Hurdles 1980 Double Scull; Hockey (Women) 1924 John Konrads - 1500m Freestyle; Andrew Cooper, Nicholas Green, Kate Allen, Alyson Annan, Lisa Cycling Murray Rose - 400m Freestyle; MOSCOW, USSR Michael McKay, James Tomkins - Four Carruthers, Renita Garard, Juliet PARIS, FRANCE Russell Mockridge – 1km Time Trial; David Theile - 100m Backstroke Swimming Haslam, Rechelle Hawkes, Nikki Athletics Lionel Cox, Russell Mockridge – Swimming Michelle Ford - 800m Freestyle; Hudson, Rachel Imison, Clover Anthony ‘Nick’ Winter - Triple Jump Tandem Cycling Kieren Perkins - 1500m Freestyle

68 69 Maitland, Claire Mitchell-Taverner, Diving Swimming 2016 Jennifer Morris, Alison Peek, Katrina Chantelle Newbery - 10m Platform Leisel Jones - 100m Breaststroke; Powell, Angie Skirving, Kate Starre, AUSTRALIA'S YOUTH Lisbeth Trickett - 100m Butterfly; RIO DE JANEIRO, Julie Towers Hockey (Men) Stephanie Rice - 400m Individual BRAZIL Michael Brennan, Travis Brooks, OLYMPIC CHAMPIONS Sailing Medley, 200m Individual Medley; Modern Pentathlon Dean Butler, Liam de Young, Jamie Tom King, Mark Turnbull –470 Class; Stephanie Rice, Bronte Barratt, Kylie Chloe Esposito Dwyer, Nathan Eglington, Troy Elder, Jenny Armstrong, Belinda Stowell – Palmer, Linda MacKenzie, Felicity Bevan George, Robert Hammond, Rugby Sevens (Women) 470 Class Galvez*, Angie Bainbridge*, Melanie Mark Hickman, Mark Knowles, Brent Nicole Beck, Charlotte Caslick, Schlanger*, Lara Davenport* – Emilee Cherry, Chloe Dalton, Gemma 2010 2014 Shooting Livermore, Michael McCann, Stephen 4 x 200m Freestyle Relay; Etheridge, Ellia Green, Shannon Parry Michael Diamond - Trap Mowlam, Grant Schubert, Matthew Wells Emily Seebohm, Leisel Jones, Jessicah (co-captain), Evania Pelite, Alicia Quirk, SINGAPORE NANJING, CHINA Rowing Schipper, Lisbeth Trickett, Tarnee Swimming Emma Tonegato, Amy Turner, Sharni Athletics Athletics White*, Felicity Galvez*, Shayne Grant Hackett - 1500m Freestyle; Drew Ginn, James Tomkins - Pair Williams (co-captain) Nicholas Hough - 110m Hurdles Jessica Thornton – 400m; Reese* - 4x100m Medley Relay Susan O’Neill - 200m Freestyle; Trae Williams – 8 x 100m Relay Shooting Rowing Ian Thorpe - 400m Freestyle; Boxing Suzanne Balogh - Trap Triathlon Kim Brennan – Single Sculls (mixed) Ashley Callus, Chris Fydler, Michael Damien Hooper - Middleweight Emma Snowsill Sailing Hockey 5 a side (Men) Klim, Ian Thorpe, Todd Pearson*, Swimming Canoe / Kayak Tom Burton – Laser Class Alec Rasmussen, Corey Weyer, Adam Pine* - 4x100m Freestyle Jodie Henry - 100m Freestyle; Jessica Fox - K1 Slalom 2010 Jonathan Bretherton, Mackenzie Relay; Grant Hackett - 1500m Freestyle; Shooting Ian Thorpe, Michael Klim, Todd Petria Thomas - 100m Butterfly; VANCOUVER, CANADA Catherine Skinner – Trap Hockey (Men) Warne, Matthew Bird, Max Hendry, Daniel Beale, Robert Bell, Andrew Max Hughes, Nathanael Stewart, Tim Pearson, William Kirby, Grant Ian Thorpe - 200m Freestyle, 400m Freestyle Skiing Swimming Hackett*, Daniel Kowalski* - 4x200m Butturini, Ryan Edge, Jake Farrell, Howard Freestyle; Lydia Lassila – Aerials Bronte Campbell, Cate Campbell, Freestyle Relay Casey Hammond, Jeremy Hayward, Jodie Henry, Lisbeth Lenton, Alice Brittany Elmslie, Emma McKeon, Rugby Sevens (Women) Snowboard Daniel Mathieson, Rory Middleton, Mills, Petria Thomas, Sarah Ryan* - Madison Wilson* – 4 x 100m Amber Pilley, Brooke Anderson, Taekwondo Torah Bright – Halfpipe Luke Noblett, Flynn Ogilvie, Jayshaan 4 x 100m Freestyle Relay; Freestyle Relay Caitlin Moran, Dominique du Lauren Burns – Olympic Flyweight Randhawa, Byron Walton, Jordan Jodie Henry, Leisel Jones, Giaan Kyle Chalmers – 100m Freestyle Toit, Kellie Gibson, Laura Wildie, Water Polo (Women) 2012 Willott, Oscar Wookey, Dylan Rooney, Petria Thomas, Brooke Mack Horton – 400m Freestyle Mackenzie Sadler, Marioulla Belessis, Naomi Castle, Joanne Fox, Bridgette Wotherspoon Hanson*, Alice Mills*, Jessicah LONDON, GREAT Raecene McGregor, Shenae Ciesiolka, Gusterson, Simone Hankin, Yvette Schipper* - 4 x 100m Medley Relay BRITAIN Swimming Tayla Stanford, Tiana Penitani Higgins, Kate Hooper, Bronwyn 2018 Athletics Nicholas Schafer - 100m Mayer, Gail Miller, Melissa Mills, Triathlon (Women) 2006 Sally Pearson – 100m Hurdles PYEONGCHANG, Breaststroke Debbie Watson, Liz Weekes, Danielle Brittany Dutton – Individual Jared Tallent – 50km Walk SOUTH KOREA Emily Selig - 200m Breaststroke Woodhouse, Taryn Woods TORINO, ITALY No gold medals won Madison Wilson, Emily Selig, Zoe Freestyle Skiing Canoe / Kayak 2002 Tate Smith, David Smith, Murray Johnson, Emma McKeon - 4 x 100m 2016 Dale Begg-Smith – Moguls Medley Relay Stewart, Jacob Clear - K4 1000m NOTE SALT LAKE CITY, USA Max Ackermann, Justin James, LILLEHAMMER, NORWAY Cycling 1924 Chamonix to 1992 Albertville No gold medals won Freestyle Skiing 2008 Nicholas Schafer, Kenneth To - Anna Meares – Sprint Olympic Winter Games Australia did not Alisa Camplin - Aerials BEIJING, CHINA win any gold medals. 4 x 100m Medley Relay Sailing 2018 Short Track Speed Skating Athletics * At Barcelona 1992, a system was Mathew Belcher, Malcolm Page – 470 introduced by which swimmers who Steven Bradbury - 1000m Steven Hooker - Pole Vault 2012 BUENOS AIRES, Class; swam in the preliminaries of the relays Canoe/Kayak Flatwater Iain Jensen, Nathan Outteridge – but did not swim in the final were INNSBRUCK, AUSTRIA ARGENTINA Ken Wallace - K1 500m 49er Class; 2004 awarded medals if their team won a No gold medals won Athletics Tom Slingsby – Laser Class medal. ATHENS, GREECE Diving Keely Small – 800m Matthew Mitcham - 10m Platform Swimming **Cyclists who raced in preliminaries but Golf Cycling Alicia Coutts, Cate Campbell, Brittany did not race in the medal round, were Grace Kim – Women’s Individual Sara Carrigan - Road Race; Rowing similarly rewarded if their team won a Elmslie, Melanie Schlanger, Yolane Strokeplay Ryan Bayley - Sprint, Keirin; Scott Brennan, David Crawshay – medal. Kukla*, Emily Seebohm*, Lisbeth Karl Vilips - Men’s Individual Graeme Brown, Luke Roberts, Brett Double Sculls; Trickett* - 4 x 100m Freestyle relay Strokeplay Lancaster, Brad McGee, Stephen Duncan Free, Drew Ginn - Pair Wooldridge**, Peter Dawson** - Swimming Sailing 4000m Team Pursuit; 2014 Kaylee McKeown – 50m backstroke Tessa Parkinson, Elise Rechichi – Graeme Brown, Stuart O’Grady – 470 Class; SOCHI, RUSSIA Madison; Malcolm Page, Nathan Wilmot – No gold medals won Anna Meares - 500m Time Trial 470 Class

70 71 AUSTRALIA’S OLYMPIC PARTICIPATION HISTORY

OLYMPIC GAMES

OLYMPIC GAMES NATIONS ATHLETES OFFICIALS MALE FEMALE OPENING CLOSING GENERAL MANAGER/ GOLD SILVER BRONZE TOTAL ATHLETES ATHLETES FLAGBEARER FLAGBEARER CHEF DE MISSION (IV) 1896 Athens 14 1 - 1 - - - - 2 - 1 3 1900 Paris 22 2 - 2 - - - - 2 - 3 5 1904 St Louis (i) 12 3 - 3 - - - - - 3 1 4 1908 London (ii) 22 30 (3) - 30(3) - Henry St Aubyn - William Hill 1 2 1 4 Murray (NZL) 1912 Stockholm (ii) 22 25 (3) - 23 (3) 2 Malcolm Champion - Vicary Horniman 2 2 2 6 (NZL) 1920 Antwerp 29 13 1 12 1 George Parker - Horace Bennett - 2 1 3 1924 Paris 44 37 5 37 - Edwin Carr - Oswald Merrett 3 1 2 6 1928 Amsterdam 46 18 2 14 4 Bobby Pearce - Leslie Duff 1 2 1 4 1932 Los Angeles 37 12 4 8 4 Andrew ‘Boy’ - James Eve 3 1 1 5 Charlton 1936 Berlin 49 33 4 29 4 Edgar ‘Dunc’ Gray - Harold Alderson - - 1 1 1948 London 59 77 11 68 9 Les McKay - Edgar Tanner 2 6 5 13 1952 Helsinki 69 85 12 75 10 Mervyn Wood - Bill Uren 6 2 3 11 1956 Melbourne 67 323 35 277 46 Mervyn Wood - Bill Uren 13 8 14 35 1960 Rome 83 198 31 168 30 Jock Sturrock - Sydney Grange 8 8 6 22 1964 Tokyo 93 253 46 211 42 Ivan Lund Dawn Fraser Len Curnow 6 2 10 18 1968 Mexico City 112 133 35 109 24 Bill Roycroft Eric Pearce Julius Patching 5 7 5 17 1972 Munich 122 173 46 143 30 Dennis Green Michael Wenden Julius Patching 8 7 2 17 1976 Montreal 92 186 47 151 35 Raelene Boyle Robert Haigh Jack Howson - 1 4 5 1980 Moscow (iii) 80 124 53 95 29 Denise Boyd & Max John Sumegi Phillip Coles 2 2 5 9 Metzker 1984 Los Angeles 140 248 85 174 74 Wayne Roycroft Dean Lukin William Hoffman 4 8 12 24 1988 Seoul 160 261 83 188 73 Ric Charlesworth Debbie Flintoff-King John Coates 3 6 5 14 1992 Barcelona 172 281 145 188 93 Jenny Donnet Kieren Perkins John Coates 7 9 11 27 1996 Atlanta 197 425 220 255 170 Andrew Hoy Mike McKay John Coates 9 9 23 41 2000 Sydney 199 632 374 349 283 Andrew Gaze Ian Thorpe John Coates 16 25 17 58 2004 Athens 201 482 285 274 208 Colin Beashel Petria Thomas John Coates 17 16 17 50 2008 Beijing 204 436 318 236 200 James Tomkins Stephanie Rice John Coates 14 15 17 46 2012 London 204 410 319 224 186 Lauren Jackson Malcolm Page Nick Green 8 (v) 15 12 35 2016 Rio 207 422 346 208 214 Anna Meares Kim Brennan Kitty Chiller 8 11 10 29 150 170 192 512

72 73 OLYMPIC WINTER GAMES

OLYMPIC GAMES NATIONS ATHLETES OFFICIALS MALE FEMALE OPENING CLOSING FLAGBEARER GENERAL MANAGER/ CHEF DE GOLD SILVER BRONZE TOTAL ATHLETES ATHLETES FLAGBEARER MISSION (IV) 1924 Chamonix 16 ------1928 St Moritz 25 ------1932 Lake Placid 17 ------1936 Garmisch-Partenkirchen 28 1 - 1 ------1948 St Moritz 28 ------1952 Oslo 22 9 1 7 2 - - Robert Chisholm - - - - 1956 Cortina d’Ampezzo 32 10 3 8 2 - - Robert Chisholm - - - - 1960 Squaw Valley 30 31 7 27 4 Vic Ekberg - Donald Maclurcan - - - - 1964 Innsbruck 36 6 5 4 2 - - John Wagner - - - - 1968 Grenoble 37 3 3 3 - Malcolm Milne - Bruce Dyson - - - - 1972 Sapporo 35 4 5 4 - - - Richard Watson - - - - 1976 Innsbruck 37 8 1 5 3 Colin Coates - Geoff Henke - - - - 1980 Lake Placid 37 10 5 6 4 Robert McIntyre - Geoff Henke - - - - 1984 Sarajevo 49 11 5 8 3 Colin Coates - Geoff Henke - - - - 1988 Calgary 57 19 14 17 2 Michael Richmond - Geoff Henke - - - - 1992 Albertville 60 23 23 16 7 Danny Kah - Geoff Henke - - - - 1994 Lillehammer 80 27 25 20 7 Kirstie Marshall Kirstie Marshall Geoff Henke - - 1 1 1998 Nagano 72 24 26 16 8 Richard Nizielski Zali Steggall Ian Chesterman - - 1 1 2002 Salt Lake City 78 27 25 14 13 Adrian Costa Steven Bradbury Ian Chesterman 2 - - 2 2006 Torino 80 40 46 23 17 Alisa Camplin Dale Begg-Smith Ian Chesterman 1 - 1 2 2010 Vancouver 82 40 53 20 20 Torah Bright Lydia Lassila Ian Chesterman 2 1 - 3 2014 Sochi 88 60 88 29 31 Alex Pullin David Morris Ian Chesterman - 2 1 3 2018 PyeongChang 92 51 28 28 23 Scotty James Jarryd Hughes Ian Chesterman - 2 1 3 5 5 5 15

YOUTH OLYMPIC GAMES

NATIONS ATHLETES OFFICIALS MALES FEMALES OPENING FLAGBEARER CLOSING FLAGBEARER CHEF DE MISSION GOLD SILVER BRONZE TOTAL 2010 Singapore 205 100 45 52 48 Liz Parnov - Nick Green 8 15 9 32 2014 Nanjing 204 89 52 43 46 Tiana Penitani Jessica Thornton Susan O’Neill 5 4 17 26 2018 Buenos Aires 206 88 62 41 47 Keely Small Grace Kim Evelyn Halls 5 10 6 21 18 29 32 79 (vi)

WINTER YOUTH OLYMPIC GAMES

NATIONS ATHLETES OFFICIALS MALES FEMALES OPENING FLAGBEARER CLOSING FLAGBEARER CHEF DE MISSION GOLD SILVER BRONZE TOTAL 2012 Innsbruck 70 13 14 7 6 Greta Small Alex Fitch Alisa Camplin - - 2 2 2016 Lillehammer 71 17 18 7 10 Emily Arthur Zali Offord Ian Chesterman - 4 1 5 2020 Lausanne 73 33 23 14 19 Zoe Michael Josie Baff Ramone Cooper 1 1 2 4 1 5 5 11 (vi)

(i) Swimmer Francis Gailey who won three silver and one bronze medal at the 1904 St Louis Games was confirmed, in March 2009, as being Australian and not (iii) Figures do not include several sections of the Team that withdrew over the boycott issue. (The Team totalled 204 athletes and 69 officials when announced. American as the Games records indicate Australia was not represented in equestrian, hockey and yachting.) The two flagbearers at Moscow were to symbolise unity. Australia, like a number of European (ii) Competed with New Zealand as Australasia. Total figures include New Zealand and figures in brackets are the number of New Zealand athletes. Two New countries, did not march behind its national flag but that of the International Olympic Committee. Zealand athletes competing under Australasia won individual medals. These medals contributed to the overall medal tally but are not recorded as Australian (iv) Since the 1964 Olympic Games the Olympic Charter designation of Chef de Mission has been adopted medals, and not included in the table. The New Zealand individual medallists were Harry Kerr (1908 – athletics bronze) and Anthony Wilding (1912 – tennis (v) In June 2016 Jared Tallent was awarded the gold medal for the 50km Walk (elevated up from silver) increasing the gold medal count to 8 for the 2012 bronze). London Olympic Games. (vi) Medal tally at the Youth Olympic Games and the Winter Youth Olympic Games includes medals won in mixed gender and mixed NOC events

74 75 CULTURE & GOVERNANCE

The ‘Approach to Governance 2019’ sets out the governance framework and structure under which decision- making at the AOC is exercised based on the guiding principles of integrity and transparency.

Following the significant reforms to the culture and governance of the organisation in 2017 and 2018, the AOC has inculcated these reforms into the setting of policy, initiating new programs and activities and in its day to day operations. In keeping with the International Olympic Committee (IOC) Charter, the AOC has adopted the commitment to protect its independence, maintain and promote its political neutrality, preserve its autonomy and the autonomy of sport and resist all pressures of any kind, including but not limited to political, legal, religious or economic pressures which may prevent the Committee from complying with the IOC. In 2018 the IOC adopted the Athletes’ Rights and Responsibilities Declaration (Athletes' Declaration) and the AOC has in turn adopted and committed to promote and respect the Declaration. This includes actively encouraging AOC member National Federations to do the same. The Athletes’ Declaration outlines a common set of aspirational rights and responsibilities for athletes within the Olympic Movement. The President directly manages relations with Brisbane City, Council of the Mayors of South East Queensland, the Commonwealth and Queensland Governments, IOC and other international stakeholders in relation to a candidature for the 2032 Olympic and Paralympic Games. This progressed to the President making a recommendation to the AOC Executive to exercise its exclusive authority to approve a candidature from Brisbane, Queensland to host the Games. This was approved 2 January 2020. The President is the Deputy Chair of the Olympic Candidature Leadership Group, which during early 2020 will transition to a Candidature company, with the deputy position being maintained. The AOC is fully committed to maintaining and building on its governance reforms so as to be a leading organisation in developing a culture of transparency and integrity.

76 77 OUR VALUES

APPROACH THEME ALIGNED DESCRIPTION OUR VALUES OUR VALUES PRINCIPLES & BEHAVIOUR LONG FORM SHORT FORM TO GOVERNANCE Inclusiveness Relevance We bring people together, without exception, in We treat RESPECT Collaboration promoting tolerance and peace through sport so that everyone with FOR ALL Sport for All everyone can experience success. respect Working Together We treat everyone with respect. Spirit of Olympism We work with the whole person and challenge THIS STATEMENT FOCUSES ON THE GOVERNANCE FRAMEWORK attitudes, beliefs and other barriers that limit people from participating. AND STRUCTURE UNDER WHICH DECISION-MAKING AT THE AOC We will celebrate successes large and small and IS EXERCISED. IT REFLECTS THE IMPORTANCE THAT THE AOC elevate our unsung heroes. PLACES ON INTEGRITY AND TRANSPARENCY. Humility Athlete Centred We serve athletes and the community of sporting We listen and LISTEN Athlete First organisations first and foremost. We will be have a desire to AND LEARN Collaboration passionate and humble in achieving our goals. learn Working Together We will listen and be open to learn from others. GOVERNANCE FRAMEWORK 34.2  Amendments to the Constitution, certified as true Listen, Open to We build strong relationships as the foundation for copies by the President and CEO will be submitted to Learn mutual success. The Olympic Charter (OC) is the basis for the framework the IOC with a request for approval. Spirit of Olympism Excellence is a journey we are on every day. We enable of rules governing the members of the Olympic Excellence PERSONAL Collaboration We will be the best we can be by improving in people to be This requirement for the IOC to approve the AOCC runs BEST Movement, namely the IOC, International Federations Working Together everything we do. their best (IFs) and National Olympic Committees (NOCs), of which counter to the principle of national sovereignty which Challenge the status quo, strive to set new standards the AOC is one, as well as Organising Committees for the underpins the Corporations Act 2001 (Cth) and is an and remove barriers. Work as a team to achieve our common goals. Olympic Games (OCOGs). obstacle to the AOC incorporating as a company. This is why the AOC remains incorporated as an association under Integrity Be our Best We stand and fall on our integrity; our actions speak We act with ACT WITH All these bodies are required to comply with the OC which the Associations Incorporation Reform Act 2012 (and Accountability louder than words. integrity in all INTEGRITY We will deliver on our commitments and hold that we do sets forth the Fundamental Principles and essential values Regulations) of Victoria (Associations Incorporation Act) of Olympism; and defines the main reciprocal rights and ourselves and each other to account. We will be true (“Act”). to our values in word, deed and spirit obligations of the IOC, IFs, NOCs and OCOGs. The OC, AOCC, by-laws and other rules, policies, code Leadership Relevance We are all leaders in bringing the Olympic spirit to life. We use our A POSITIVE For the governance of the AOC, the OC is complemented and charters by which the AOC is governed and operates Spirit of Olympism We will lead by example. independence FORCE by the AOC Constitution (AOCC) and a suite of by-laws, Supportive Use our independence and passion to be a positive and passion to be are all available along with Annual Reports and Financial A Good Example force in everything we do. a positive force rules, policies, programs and funding guidelines, a code Statements on the AOC website (olympics.com.au). of conduct and charters for its various commissions and committees. Since being awarded the 2000 Olympic Games in The AOC Executive engaged the Australian Institute of The AOC is governed as set out below. 1993 the AOC has neither sought nor received any Key to understanding the rules by which NOCs, which are Company Directors (AICD) to conduct a review of its Commonwealth Government funding. It is this financial governance and wider practices which was completed in MANAGEMENT AND OVERSIGHT essentially committees of the IOC, must be constituted independence which underpins the AOC’s independence April, 2018. Based on the AICD’s review, in the last 12 Within its framework of rules, the powers of the AOC are and govern is the procedure in the following By-Law (BL) from Government. to Rules (R) 27 and 28 of the OC for their recognition and months, the AOC Executive has undertaken the following exercised by its following organs, office bearers and Life continuing recognition and with which they must comply: In May 2017, the AOC Executive commissioned The Ethics initiatives: Members: Centre (TEC) to assess the AOC’s culture and its alignment 1.3 The approval of an [NOC] applicant’s statutes by the - through its Culture, Remuneration & Nominations 1 AOC in General Meeting; to the organisation’s ethical framework which TEC took Committee, progressing a development plan for IOC Executive Board is a condition for recognition. The 2 to include its role, values and the principles of Olympism. members of the Executive, including position AOC Executive; same applies to any subsequent change or amendment All recommendations made by the TEC have been to the statutes of an NOC. Such statutes shall, at all descriptions for the President, Vice Presidents and 3 President; implemented by the AOC Executive and management. members of the Executive; times, comply with the OC to which they must refer 4 Chief Executive Officer; expressly. If there is any doubt as to the signification or As part of this implementation, the AOC Executive - held a series of CEO Roundtable meetings to improve 5 interpretation of the statutes of an NOC, or if there is released a paper in January 2018 Resetting the AOC as communications and engagement between the AOC and Secretary; an Organisation (available on the AOC website olympics. a contradiction between such statutes and the OC, the the National Federations (NFs); and 6 Commissions and Committees; and latter takes precedence. com.au). While the role of the AOC has not changed, its Objectives – “what we do” and in effect the AOC’s - launched education and community initiatives, in 7 Life Members. The statutes of the AOC means the AOCC which was last strategic goals are now presented in two groups, “guiding” particular Olympics Unleashed in additional States and adopted by the AOC on 4 May 2019 and approved by the and “operational”. They provide clarity of the AOC’s role Territories around Australia. IOC on 29 May 2019. and mission. The following Vision Statement and Values 1 AOC IN GENERAL MEETING In compliance with the OC, the AOCC includes the have been adopted by the AOC: following clauses:- Each delegate of the NFs affiliated to an IF governing a OUR VISION sport included in the sports program of the next Olympic 3.1 Where this Constitution is inconsistent with a rule, Games or the next Olympic Winter Games, the members Australians inspired by the spirit of Olympic sport. regulation or directive of the IOC, the latter will of the Executive, the Chair and Deputy Chair of the prevail, and this Constitution, to the extent of the Athletes’ Commission and the members of the IOC who inconsistency, will be invalid. are citizens of Australia are the members of the AOC

78 79 entitled to one vote (R29 OC and cl.13 AOCC). Where a Clause 6: 6.12 to exercise its exclusive authority to select and Constitution will prevail (cl.22.2 AOCC). person is present in more than one capacity with voting designate the city or cities which may apply to 6.1 to develop, promote and protect the principles of As a condition of membership, all members are bound to entitlement (President and IOC member) that person is organise Olympic Games in Australia; Olympism and the Olympic Movement in Australia observe and comply with all By-Laws made by the AOC only entitled to one vote (cl.13.2 AOCC). This also applies in accordance with the OC and all regulations and 6.13 in order to fulfil these objects, the Committee may Executive (cl.22.2 AOCC). to the AOC Executive. directives issued by the IOC; cooperate with governmental bodies. The Committee The current by-laws comprise the: Subject to the Constitution, the AOC in general meeting shall not associate itself with any activity which would 6.2 to promote, raise awareness of and encourage has the full power, jurisdiction and authority to do all things be in contradiction with the OC. The Committee may - AOC Anti-Doping By-Law*; participation in sport for benefits of health, longevity, necessary to carry out the business, affairs and the objects also cooperate with non-governmental bodies; fitness, skill, achievement, social interaction, wellbeing - AOC National Federation Commercial Activities By-Law*; of the AOC (cl.11 AOCC). and other benefits of exercise for all individuals in 6.14 to protect its independence, maintain and promote - AOC Ethical Behaviour By-Law*; Australia; its political neutrality, preserve its autonomy and the autonomy of sport and resist all pressures of - National Federation Athletes’ Commission By-Law*; 2 6.3 In support of the above objects, to effect its exclusive AOC EXECUTIVE any kind, including but not limited to political, legal, authority for the representation and participation - Olympic Team Selection By-Law*. religious or economic pressures which may prevent (A) MEMBERS by Australia at the Olympic Games, Olympic Winter the Committee from complying with the OC; Further to cl.6.17 and other relevant clauses of the AOCC Games, Youth Olympic Games, Youth Olympic The roles of the President and CEO are separate. and rules of the OC, the AOC Executive: Winter Games and at Regional Games and do all 6.15 to promote and respect the Athletes’ Rights and The AOC Executive consists of thirteen members, the matters incidental thereto, including the selection Responsibilities Declaration; • adopts Programs and Funding Guidelines for the names of whom, their length of service and biographical and discipline of all members of the teams to AOC’s Olympic education, health and wellbeing 6.16 the AOC has the right to: details are set out in the Annual Report. All of them are represent Australia at those Games. The Committee initiatives and preparation of the AOC’s Olympic, elected by the AOC in general meeting for terms of four is obliged to participate in the Olympic Games and (1) designate, identify or refer to itself as the Australian Olympic Winter, Youth Olympic, Youth Olympic years with the exception of the Chief Executive Officer Olympic Winter Games by sending athletes; Olympic Committee (AOC) which designation or Winter and Regional Teams (the AOC’s Teams)* (CEO) who is appointed by the Executive with the right identification must be included or referred to in its (cls.6.2 and 6.3 AOCC). 6.4 to promote the fundamental principles and values to vote; the members of the IOC in Australia who are ex name; of Olympism in Australia, in particular in the fields The Programs and Funding Guidelines for sports on officio members with the right to vote (R28.1 OC) (John of sport and education, by promoting Olympic (2) send competitors, team officials and other team the program of the 2020 Olympic Games, Tokyo for Coates R16.1.1.1 OC and James Tomkins R16.1.1.2 OC); sporting and health, educational programs in all personnel to the Olympic Games in compliance with the period 1 January 2017 to 31 December 2020 and, the Chair of the AOC Athletes’ Commission (Steve levels of schools, sports and physical education the OC; was adopted by the AOC Executive on 18 November Hooker) who is elected by the Athletes’ Commission and institutions and universities, as well as by encouraging 2016 following consultation with the AOC Athletes’ an ex officio member with the right to vote (cl.16 AOCC). (3) benefit from the assistance of Olympic Solidarity; the creation of institutions dedicated to Olympic Commission including on athlete transitioning, ceasing The voting majority of the AOC Executive must (and does) education, such as National Olympic Academies, (4) use certain Olympic properties as authorised by the the top 5 Olympic Games medal target for summer consist of the votes cast by the seven representatives Olympic Museums and other programs, including IOC and in compliance with the OC; and any target for winter sports, increasing direct of the NFs (7:6). The six other members of the AOC funding to medallists under the AOC Medal Incentive cultural, related to the Olympic Movement; (5) take part in activities led or patronised by the IOC, Executive are the President, two Vice Presidents, CEO, Funding and introduction funding to NFs receiving less 6.5 to ensure the observance of the OC in Australia; including Regional Games; IOC member and Chair AOC Athletes’ Commission than $100,000 p.a. from Sport Australia/Australian (R28.3 OC). It is this OC requirement that dictates the 6.6 to recognise the heritage, culture and contribution of (6) belong to ANOC and ONOC; Institute of Sport in high performance funding. size of the AOC Executive. The President and two Vice our nation’s first people, and to give practical support (7) formulate proposals to the IOC concerning the The Programs and Funding Guidelines for Sports on Presidents may be nominated by State Olympic Councils to the issue of indigenous reconciliation through OC and the Olympic Movement, including the the Program of the 2022 Olympic Winter Games for (which have no voting rights) or NFs or both. They are not sport; organisation of the Olympic Games; the period 1 July 2018 to 30 June 2022 was adopted representatives of the NFs for the purpose of determining 6.7 to encourage the development of sport for all for the by the AOC Executive on 3 April 2018 following compliance with R28.3 OC. (8) give its opinions concerning the candidatures for the financial consideration and approval by the AOC health, wellbeing and other benefits to all individuals organisation of the Olympic Games; The AOC recognises the importance of diversity in the in Australia, and in support and encouragement of Finance Commission. These Programs and Funding composition of its Executive, particularly given that athlete those objects, the development of high performance (9) participate, on request from the IOC, in the activities Guidelines are the AOC’s key strategic, budgeting and membership of the AOC’s Teams is around half female/half sport as the pinnacle of the benefits of sporting of the IOC commissions; planning documents and on which NFs and athletes can rely in their planning. male. However, having elected (not appointed) members participation; (10) collaborate in the preparation of Olympic (excepting the CEO and IOC members who are elected by 6.8 to take action against any form of discrimination and Congresses; • adopts Team Membership Agreements for athletes the IOC) achieving diversity is in the hands of the AOC in violence in sport; and officials for the AOC’s Teams* (cl.6.3 AOCC); general meeting. (11) exercise other rights as granted to the Committee by 6.9 to adopt and implement the World Anti-Doping the OC or by the IOC; and • appoints the Chefs de Mission and Team Executives (B) POWERS of the AOC’s Teams and determines the delegation of Code; 6.17 to do all such other acts and things incidental to the Subject to the Constitution, the power, management and powers, responsibilities and functions to them (R27.3, 6.10 to encourage and support measures relating to the attainment of these objectives. control of the AOC and any duties not attributed by the 27.7.2 and BL4 to R27 and 28 OC); medical care and health of athletes; OC or the Act to the AOC in general meeting is vested in The AOC Executive may make such By-Laws as are • on 20 March 2017 adopted a Matrix of Responsibilities and resides in the AOC Executive (cl.22.1 AOCC). 6.11 to protect clean athletes and the integrity of sport by necessary and convenient to give effect to the AOCC and covering each of the AOC’s teams* (cl.6.3 AOCC). The being a leading advocate in the fight against doping the proper conduct of Members and persons associated This includes the power and responsibility for fulfilling the Matrix was developed with management and input in Australia, and by taking action against all forms of with the Olympic Movement in Australia, provided however following objects of the AOC (cl.6 AOCC): from the AOC Athletes’ Commission; manipulation of competition and related corruption; that where any such By-Laws are inconsistent with the Constitution then to the extent of such inconsistency the • appoints, and when necessary, replaces the Chief

80 81 Executive Officer (CEO) (cl.27.1 and 27.2 AOCC); • approval for Team budgets is delegated to the Finance 18.3 Clauses 18.1 and 18.2 do not apply to a material All members of the AOC Executive have unrestricted Commission and their monitoring is by the Chef de personal interest that exists only because the access to the AOC’s records and information and receive • approves the Nomination Criteria of NFs and the Mission, CEO, General Manager, Games Support and Executive member is a member of the IOC or Chair regular financial and operational reports from management Selection Criteria for membership of the AOC’s Teams Operations and CFO for reporting to the AOC Finance or Deputy Chair of the Athletes’ Commission. to enable them to carry out their duties. (BL2.1 to R27 and 28 OC). Commission (AOC Teams’ Matrix of Responsibilities); 20.1 Every Executive member and Secretary must keep The AOC Executive may, subject to the President’s On 29 August 2019 the AOC Executive adopted • oversees the integrity of the AOC’s accounting and the transactions, whether complete or incomplete; consent, individually or collectively obtain independent further amendments to its Nomination and Selection corporate reporting systems, including the external financial affairs and state of accounts; and, professional advice, at the expense of the AOC in the By-Law*. audit; and information which is confidential or generated for furtherance of their duties as members of the Executive. • approves the Strategic Plans for the AOC’s Teams internal management purposes of the Committee • approves the full-year financial statements of the All members of the AOC Executive are required to comply (AOC Teams Matrix of Responsibilities); confidential unless required to disclose them: AOC. with all By-Laws made by the Executive, including the • ensures that all staff and members of the AOC (1) in the course of duties as an officer of the Ethical Behaviour By-Law and the Anti-Doping By-Law. *available on the AOC website olympics.com.au Executive, commissions and committees, have made Committee; (E) HONORARY SERVICE, EXCEPTIONS, EXPENSES a Statutory Declaration regarding Child Protection (C) CONFLICTS OF INTEREST (2) by the Executive or the Committee in general AND INDEMNIFICATION and Anti-Doping matters and obtained satisfactory Members of the AOC Executive acknowledge that they meeting; or “Working with Children” clearance; Members of the AOC Executive serve in an honorary have legal and equitable duties not to allow any sporting, (3) by law. capacity, except for: • has adopted and regularly reviews the following business or other relationships to materially interfere policies and code: with the exercise of their unfettered and independent 20.2 The Executive may require an Executive member, • the President, to whom a consultancy fee determined by judgement. In this regard, the AOCC provides as follows in Secretary, auditor, trustee committee or commission the AOC Executive is paid for his services; - AOC Privacy Policy*; clauses: member or other person engaged by the Committee • the CEO, who is a full-time employee of the AOC; and - AOC Code of Conduct; to sign a confidentiality undertaking consistent with 16.1 Each member of the Executive will not represent this Constitution. An Executive member or Secretary • those members of the AOC Executive appointed Chefs - AOC Diversity Policy; any particular body or sport and will represent the must do so if required by the Executive. de Mission of the Olympic and Olympic Winter Teams Olympic Movement at large. - AOC Sustainability Policy; and to whom the AOC Executive determines to pay a 16.9 Executive members must exercise their powers (D) MEETINGS, ACCESS TO RECORDS AND consultancy fee for their service as such. - Child Safe Sport Commitment*; and and discharge their duties with reasonable care and INDEPENDENT ADVICE, COMPLIANCE WITH Members of the AOC Executive: - Child Safe Guidelines and Reporting*. diligence. BY-LAWS The Executive currently holds not less than four • are reimbursed for any travel, accommodation and other • ensures that there are adequate internal controls 16.10 Executive members must exercise their powers and scheduled meetings per year. The agenda for scheduled justified expenses incurred in the carrying out of their and ethical standards of behaviour and they comply discharge their duties: Executive meetings incorporates standing items including functions; with the IOC Code of Ethics and the AOC Code (a) in good faith in the best interests of the the President’s and CEO’s reports, financial reports, of Conduct for the Executive, commissions and • may undertake professional development programs Committee; and commission and committee reports, strategic matters, committees; funded by the AOC; and governance and compliance. Senior management may (b) for a proper purpose. • ensures the adoption and integrity of appropriate be invited to attend relevant parts of Executive meetings • also receive the benefits of insurances provided by the policies and procedures governing harassment, 16.11 Executive members and former Executive members when they are involved in Executive discussions. AOC. discrimination, bullying and vilification (AOC Ethical must not make improper use of: At the commencement of each Executive, commission and The AOC has indemnified the members of the AOC Behaviour By-Law) (EBBL). (a) their position; or committee meeting members are asked by the Chair if Executive and the AOC Athletes’ Commission against all • ensures the adoption and integrity of policies and losses or liabilities that may arise from their position as (b) information acquired by virtue of holding their they are aware of: practices for recruitment, training, remuneration a member of each body, except where the liability arises position 1. any related party transaction not previously reported to and succession planning; and that remuneration is out of conduct involving a lack of good faith, criminal the Executive; or reasonable, competitive, equitable and for office so as to gain an advantage for themselves or any other activity or a wilful breach of employment conditions or bearers and senior management, fully disclosed in person or to cause detriment to the Committee. 2. any matter being considered by this meeting in which relevant Codes of Conduct. Liability of the AOC is limited the Notes to the Financial Statements. It evaluates to the maximum amount payable under the Directors’ and 16.12 In addition to any duties imposed by this the member has a material personal interest and which the performance of paid office bearers, senior Officers’ Liability Insurance policy of the AOC. Constitution, a committee member must perform transaction or the nature and extent of such interest management and consultants; must be disclosed to the meeting or reported or any other duties imposed from time to time by The AOC has entered into Deeds of Indemnity and Access disclosed and addressed under the IOC Code of Ethics • ensures the significant risks facing the AOC and the resolution at a general meeting. with all members of the AOC Executive and AOC Athletes’ or the AOC Code of Conduct. For guidance attention AOC’s Teams have been identified and that appropriate Commission. The principal provision of the Deeds relate to: 18.1 An Executive member who has a material personal is drawn to an extract of the International Accounting risk management and frameworks, adequate control interest in a matter being considered at an Executive Standard 24 (AS24) Related Party Disclosures and the • granting of the indemnity above; monitoring and reporting mechanisms are in place; meeting must disclose the nature and extent of that relevant clauses 18.1 and 18.2 AOCC. • the provision of access to papers of the relevant body; • approves the quadrennium and annual operating interest to the Executive. The number of AOC Executive, commission and budgets and major capital expenditure of the AOC and • confidentiality of information provided; 18.2 The Executive member: committee meetings held during 2019 and the attendance monitors financial performance against such programs record of members is set out in the Notes to the Financial and budgets; (1) must not be present while the matter is being considered at the meeting; and Statements. (2) must not vote on the matter.

82 83 • an undertaking to maintain and to the extent permitted Olympic Winter Games of Lausanne 2020, Youth Institutes of Sport, Sport Australia, Australian Sports Nomination Committee for the casual vacancy on the by law pay the premiums on an insurance policy which Olympic Games of Dakar 2022, Winter Youth Olympic Anti-Doping Authority, Paralympics Australia, AOC Executive. insures members of the AOC Executive and the AOC Games of PyeongChang 2024, World Anti-Doping Commonwealth Games Australia, Olympic Broadcast (c) The members of the Team Executive for the 2019 Athletes’ Commission against liability incurred by them as Agency (Chair), and Independent Testing Agency (Chair); Rightsholder Seven Network at an operational level and Pacific Games in Samoa were: a member of the relevant body during their term of office TOP and national sponsors; and (f) representing the AOC Executive and AOC in their KEN WALLACE (CHAIR DURING GAMES / CHEF DE and for seven years after they cease to hold office. relationships with Paralympics Australia (President), (c) membership of the OCLG. MISSION) Members of the AOC Executive are also indemnified Commonwealth Games Australia (President), Olympic MATT CARROLL (CHAIR PRE-GAMES) The CEO is accountable to the AOC Executive, through the against legal fees and expenses where, with the approval Broadcast Rightsholder, Seven Network (Chair - the LUKE PELLEGRINI President. of the Executive, they institute legal proceedings arising President is the IOC delegate for broadcast rights (d) The members of the Team Executive for the 2020 out of loss and damage suffered as a direct consequence negotiations in Oceania), national sponsors (Chair/ Winter Youth Olympic Games in Lausanne, Switzerland of their membership of the AOC Executive. The Presidents) and Governments (Prime Minister and 5 SECRETARY were: indemnification is on the basis that the AOC is reimbursed Premier level); such legal fees and expenses as a first priority out of any RAMONE COOPER (CHAIR DURING GAMES / CHEF DE (g) providing direction to the CEO and management The Secretary who is also the General Counsel of the AOC award or settlement. MISSION) between meetings of the AOC Executive; (cl.28.1 AOCC) performs those duties required under the MATT CARROLL (CHAIR PRE-GAMES) Act and the AOC Constitution (cl.28.2 AOCC). (h) ensuring efficient organisation and conduct of the AOC LUKE PELLEGRINI 3 PRESIDENT Executive and general meetings including all aspects of The Secretary of the AOC fulfils other management (e) The members of the Team Executive for the 2020 corporate governance; responsibilities in addition to secretarial duties and in Olympic Games in Tokyo are: The President represents the AOC and chairs each meeting respect of which she reports to the CEO. (i) guiding the agenda and conduct of the AOC in general IAN CHESTERMAN (CHAIR AND CHEF DE MISSION) of the AOC and the AOC Executive (cl.25 AOCC). In the meetings and AOC Executive meetings; The Secretary is accountable to the AOC Executive, KIM BRENNAN (DEPUTY CHEF DE MISSION) absence of the President, or under his delegation, the two through the President, on all matters to do with the EVELYN HALLS (DEPUTY CHEF DE MISSION) Vice Presidents carry out the functions of the President (j) reporting to the AOC Executive at each meeting on proper functioning of the AOC Executive and corporate SUSIE O’NEILL (DEPUTY CHEF DE MISSION) (cl.26 of the AOC Constitution). significant developments within the Olympic Movement; governance. MATT CARROLL The President is accountable to the AOC Executive. (k) upskilling the new members of the AOC Executive and (f) The members of the Team Executive for the 2022 management on the role and responsibilities of NOCs The President’s role and responsibilities include: Olympic Winter Games in Beijing, China are: and their functioning within the Olympic Movement as 6 COMMISSIONS AND COMMITTEES (a) providing leadership to the AOC Executive generally and the AOC transitions for the retirement of the President IAN CHESTERMAN (CHAIR) particularly on those of its responsibilities described in over the current Olympiad; The AOC Executive may appoint commissions and GEOFF LIPSHUT clauses 6.1; 6.5; 6.9; 6.11; 6.12; 6.13; 6.14; 6.15; 6.16 committees, not necessarily out of their number, and MATT CARROLL (l) pursuing opportunities for members of the AOC delegate to any such commissions and committees or (4), (5), (6), (7), (8), (9), (10) and (11) of the AOCC; (g) The members of the Audit and Risk Committee are: Executive to serve on IOC Commissions and otherwise to a member of the AOC Executive any of its powers, (b) relations with Brisbane City Council, Council of the progress in the Olympic Movement; responsibilities and functions other than this power of IAN CHESTERMAN (CHAIR) Mayors of South East Queensland, the Commonwealth EVELYN HALLS (m) assisting Australian candidates for executive positions delegation or a duty imposed on the AOC by the Act or and Queensland Governments, IOC and other MARK ARBIB on IFs; any other law (cl.29.1 AOCC). The delegation may be set international stakeholders (the IFs and Olympic out in a Charter adopted by the AOC Executive for the MICHAEL MURPHY Broadcast Services) in relation to a candidature for the (n) providing advice to Australians on IF executives commissions or committees or otherwise be in writing CATHERINE FETTELL 2032 Olympic and Paralympic Games (the Games); ; concerning issues with the IOC and generally; and and may be subject to such conditions and limitations as (h) The members of the Finance Commission are: the AOC Executive considers appropriate (cl.29.2 AOCC). (c) making a recommendation to the AOC Executive on (o) chairing the trustee board of the Australian Olympic MATT ALLEN (CHAIR) Those in place during 2018 comprise(d): whether to exercise its exclusive authority to approve Foundation (AOF), membership of the AOF Investment JOHN COATES a candidature from Brisbane, Queensland to host the Advisory Committee and providing direction to the (a) The Athletes’ Commission, elected at the Olympic IAN CHESTERMAN Games (NB: such a recommendation was submitted to Director of the AOF. In this role as Chair, ensuring the Games and Olympic Winter Games by the athletes who CRAIG CARRACHER and adopted by the AOC Executive on 2 January 2020). maintenance of the capital of the AOF and ongoing are members of the Australian Olympic Team competing MARK ARBIB distributions to the AOC. (d) membership (Deputy Chair) of the 2032 Olympic at those Games (cl.9 AOCC). The Athletes’ Commission CATHERINE FETTELL appoints their chair who is an ex officio member of the Candidature Leadership Group (OCLG); (i) The members of the Culture, Remuneration and AOC Executive with the right to vote. (e) relations at President to President level (as is practice 4 CHIEF EXECUTIVE OFFICER (CEO) Nominations Committee are: in the Olympic Movement) with the IOC, Association The Athletes’ Commission is a commission of the AOC CRAIG CARRACHER (CHAIR) of NOCs (ANOC), Oceania NOCs (ONOC), Olympic The AOC Executive, excluding the CEO, may confer on and has no executive powers. Its purpose is to advise the HELEN BROWNLEE Council of Asia (OCA), Association of Summer Olympic the CEO such of the powers exercisable by him on such AOC Executive on all matters relating to athletes within EVELYN HALLS International Federations (ASOIF), Association of terms and conditions as they think fit (cl.27.3 of the AOC the Olympic Movement provided that matters specific to MICHAEL MURPHY International Winter Sports Federations (AIOWF), 40 Constitution). a sport are addressed between the NF of that sport and (j) The members of the Medical Commission are: Olympic International Federations, other 204 NOCs, its Athletes’ Commission (cl.9.11 AOCC). The CEO’s role and responsibilities include: Organising Committees for the Olympic Games (at PROFESSOR PETER FRICKER (CHAIR) (b) Eight other commissions or committees being the President level) of Tokyo 2020, Paris 2024 and Los (a) day to day management and administration of the AOC; DR DAVID HUGHES Team Executives, Audit and Risk Committee, Finance Angeles 2028, Olympic Winter Games of Beijing 2022, ANIK SHAWDON (b) representing the AOC Executive and AOC in their Commission, Culture, Remuneration and Nominations Youth Olympic Games of Buenos Aires 2018, Youth DR PETER BRAUN relationships with the Australian, State and Territory Committee, CEO Nomination Committee and MS MIRANDA MENASPA (FROM JUNE 2019)

84 85 The roles and responsibilities of the commissions and ii. prior written consent of “the Required Majority of committees (other than Team Executive - which are based Guardians” (75% of those entitled to vote); on the AOC Teams’ Matrix of Responsibilities and as set out (d) provide that no guarantees and indemnities may be in their respective charters). These charters are available on given or security provided without the consent of “the the AOC website olympics.com.au. They are not repeated Required Majority of Guardians” if the potential liability here. exceeds the Maximum Sum as determined under the Each commission and committee is entitled to the provisions of the Trust Deed; resources and information it requires, including direct (e) require that any further amendments to the Trust Deed access to employees and advisors. The CEO, senior will require the same 75% percentage ratification by the management members and other employees are invited to members of the Trustee and the same 75% percentage attend commission and committee meetings as appropriate. consent by the Guardians, again, in each case of those Commission and committee members are chosen for entitled to vote; and the skills, experience and other qualities they bring to the (f) provide that in addition to the concurrence of the commissions and committees. They are proposed by the President of the IOC, for removal and appointment of a President and appointed by the AOC Executive. New Trustee: Minutes of meetings are tabled in full at subsequent AOC i. the members and directors of the New Trustee Executive meetings and the subject of a verbal report by must be the same members and directors as of the Commission Chair in the meantime, with the exception Resigning Trustee; and of those of the Culture, Remuneration and Nominations Committee from which remuneration amounts are ii. the Constitution of the New Trustee must contain the redacted and reported verbally, pending full disclosure in same provisions as the Constitution of the Resigning the Notes to the Financial Statements in the Annual Report. Trustee. Any matters determined by the commission and The Guardians are the Life Members of the Primary committees which exceed their delegated authorities Beneficiary as appointed in accordance with the AOCC. are submitted to the Executive as recommendations for There are currently 12 of them, namely: decision. GEOFFREY HENKE AO PHILLIP COLES AM 7 KEVAN GOSPER AO LIFE MEMBERS JOHN COATES AC JOHN DEVITT AM The Australian Olympic Foundation (Foundation) was SIR DONALD TRESCOWTHICK AC KBE established on 16 February 1996 by Trust Deed between PETER MONTGOMERY AM Julius Lockington Patching as settlor on the one part and MICHAEL WENDEN AM MBE Australian Olympic Foundation Limited as Trustee. It was HELEN BROWNLEE AM established to develop and protect the Olympic Movement RONALD HARVEY CVO AM in Australia in accordance with the Olympic Charter. The DOUG DONOGHUE AM members and directors of the Trustee are the voting IAN CHESTERMAN AM members of the Executive of the AOC from time to time. The AOC is the Primary Beneficiary pursuant to the Trust The Trust Deed was established with the AOC, the Primary Deed and as at 3 April 2016, the sole beneficiary of the Beneficiary and with Nil General Beneficiaries. All of the Foundation. members of the AOC, including NFs, were excluded from the class of potential General Beneficiaries. On 3 April 2018. the Trust Deed of the Foundation was amended, including to: On 3 April 2018, pursuant to the terms of the amended Trust Deed, the Trustee of the Foundation irrevocably (a) align the objectives of the Foundation with those of the declared an extensive number of additional persons and AOC under its Constitution, as amended in 2015; bodies as being excluded. (b) limit total distributions during any four-year Distribution The result of these changes means the Foundation’s capital Period commencing with 2021 to four per cent per and ongoing distributions are secure and the AOC is able to annum of the net asset value of the Foundation fund its activities independent from Government and free calculated as at the first day of each Distribution Period; of outside pressures of any kind. (c) require that any decision to distribute more than 4 per cent per annum will be subject to: i. ratification by a Special Majority of the members of the Trustee (75% of those entitled to vote); and

86 87 STATEMENT OF PROFIT OR LOSS FINANCIAL STATEMENTS AND OTHER COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 DECEMBER 2019

OLYMPIAD 2018 2017–2020 2019 RESTATED RESTATED NOTE $’000 $’000 $’000 PAGE REVENUE FROM OPERATING ACTIVITIES Sponsorship and Licensing 2.2 17,754 15,332 47,159 Distribution from Australian Olympic Foundation 10,876 7,321 27,220 STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME 89 Fundraising Income 3,150 565 5,486 Grants 2.2 1,294 1,110 3,162 STATEMENT OF FINANCIAL POSITION 90 Other Income 2.2 38 568 617 Total Revenue 33,112 24,896 83,644 STATEMENT OF CHANGES IN EQUITY 91 EXPENSES Direct Costs STATEMENT OF CASHFLOWS 92 Commissions and servicing costs 1,643 1,287 4,465 Marketing, promotion, media services (in-kind) 2,890 890 5,398 Fundraising 812 823 2,034 NOTES TO THE FINANCIAL STATEMENTS 93 Total Direct Costs 5,345 3,000 11,897 TEAMS AND SPORT OPERATIONS EXECUTIVE'S DECLARATION 116 Olympic Teams 2.3 4,399 3,540 9,629 Other Teams 2.3 356 1 816 INDEPENDENT AUDITOR'S REPORT 117 National Federations Funding 579 702 2,317 Olympic Winter Institute of Australia 2,709 1,031 4,740 Games Operations & Sports Services 1,152 1,046 3,074 Total Teams and Sport Operations Costs 9,195 6,320 20,576 OLYMPIANS AND ATHLETE SUPPORT The activities of the Australian Olympic Committee (the Committee) fall within a four year (Olympiad) Medal Incentive Funding 2,455 1,743 5,163 cycle ending 31 December of the year in which the Summer Olympic Games are held. The current Olympian Services 397 255 881 Total Olympians and Athlete Support Costs 2,852 1,998 6,044 quadrennium ends 31 December 2020 after the Olympic Games in Tokyo, Japan. COMMUNITY AND OLYMPIC EDUCATION The financial activities of the Committee follow this Olympiad cycle with sponsorship and program Programs 1,195 396 1,733 expenditure being determined over a four year period. Community and Education Services 879 1,057 2,667 Total Community & Olympic Education Costs 2,074 1,453 4,400 The Committee is a non- profit entity and revenues are expended on programs to support INFORMATION TECHNOLOGY 1,827 1,121 4,029 stakeholders of the Committee. PUBLIC AFFAIRS AND COMMUNICATIONS 1,099 904 3,180 The Committee sources its revenue primarily through sponsorship and fundraising activities and grants BRISBANE 2032 118 - 118 from the International Olympic Committee. SUPPORT SERVICES Corporate 3,744 3,639 10,838 The Committee also receives distributions from the Australian Olympic Foundation as primary Legal and dispute resolution 130 75 2,209 beneficiary of that Trust. Property 2.3 1,009 1,209 3,052 Financing costs 2.3 233 186 561 From time to time, assets of the Committee deemed surplus to immediate requirements are settled on Net foreign exchange loss/(gain) 49 5 83 to the Australian Olympic Foundation. Total Support Services Costs 5,165 5,114 16,743 TOTAL EXPENDITURE 27,675 19,910 66,987 Surplus from Operating Activities 5,437 4,986 16,657 Settlement (on)/by the Australian Olympic Foundation (5,437) (2,773) (8,960) Surplus before income tax - 2,213 7,697 Net income tax expense 2.4 - - - Net surplus after income tax expense - 2,213 7,697 Total comprehensive surplus for the year - 2,213 7,697

The above statement of profit or loss and comprehensive income should be read in conjunction with the accompanying notes.

88 89 STATEMENT OF FINANCIAL POSITION STATEMENT OF CHANGES IN EQUITY AS AT 31 DECEMBER 2019 FOR THE YEAR ENDED 31 DECEMBER 2019

31 DECEMBER 31 DECEMBER 2018 1 JANUARY 2018 ACCUMULATED 2019 RESTATED RESTATED FUNDS TOTAL NOTE $’000 $’000 $’000 NOTE $’000 $’000

ASSETS Balance at 1 January 2018, as previously reported 1.6 26 26 Current assets Impact of change in accounting policy 5,484 5,484 Cash and cash equivalents 3.1 4,277 4,109 3,934 Restated balance at 1 January 2018 5,510 5,510 Trade and other receivables 3.2 6,168 1,461 3,963 Contract Assets 3.2 26,243 18,867 10,851 Total comprehensive loss for the year Deferred expenditure 3.3 1,581 1,495 1,141 Restated surplus for the year after income tax 2,213 2,213 Other current assets 3.4 191 305 320 Total comprehensive loss for the year 7,723 7,723 Total current assets 38,460 26,237 20,209 Balance at 31 December 2018 7,723 7,723 Balance at 1 January 2019 7,723 7,723 NON-CURRENT ASSETS Contract Assets 3.2 31,397 48,317 63,366 Total comprehensive loss for the year Property, plant and equipment 3.5 883 1,075 861 Surplus for the year after income tax - - Right-of-use asset 3.6 2,720 3,125 3,684 Total comprehensive loss for the year - - Deferred expenditure 3.3 3,806 4,232 5,726 Balance at 31 December 2019 7,723 7,723 Total non-current assets 38,806 56,749 73,637 Total assets 77,266 82,986 93,846 The above statement of changes in equity should be read in conjunction with the accompanying notes. LIABILITIES Current liabilities Trade and other payables 3.7 6,895 3,363 4,136 Contract Liabilities 3.8 18,676 17,594 15,152 Deferred income 3.9 1,243 343 237 Interest bearing liabilities and borrowings 3.12 - 2,500 2,500 Lease liability 3.6 582 517 519 Provisions 3.10 350 428 334 Total current liabilities 27,746 24,745 22,878

Non-current liabilities Trade and other payables 3.7 7,357 6,201 7,049 Contract Liabilities 3.8 31,642 40,996 54,772 Deferred income 3.9 93 115 - Lease liability 3.6 2,634 3,121 3,637 Provisions 3.10 71 85 - Total non-current liabilities 41,797 50,518 65,458 Total liabilities 69,543 75,263 88,336 Net assets 7,723 7,723 5,510

EQUITY Net accumulated funds 4.1 7,723 7,723 5,510 Total equity 7,723 7,723 5,510

The above statement of financial position should be read in conjunction with the accompanying notes.

90 91 STATEMENT OF CASH FLOWS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2019 FOR THE YEAR ENDED 31 DECEMBER 2019

2018 (iii) In support of the above objects, to effect its exclusive 2019 RESTATED SECTION 1  authority for the representation and participation NOTE $’000 $’000 by Australia at the Olympic Games, Olympic Winter BASIS OF PREPARATION Games and at Regional Games. CASH FLOWS FROM OPERATING ACTIVITIES Receipts from organisations 30,798 18,983 In preparing the 2019 financial statements, the Australian Payments to organisations and employees (27,801) (18,200) Olympic Committee (‘the Committee’) has grouped notes 1.2 BASIS OF PREPARATION Interest received 3 3 into sections under five key categories: The financial statements of the Committee as at and for Net payments of good and services tax (132) 232 1 the year ended 31 December 2019 have been prepared Borrowing costs paid (121) (95) Basis of preparation for distribution to the members of the Committee to fulfil Net cash from operating activities 3.1 2,747 923 2 Results for the year the Executive’s financial reporting requirements under the CASH FLOWS FROM INVESTING ACTIVITIES 3 Balance sheet disclosures Associations Incorporation Reform Act 2012 of Victoria Acquisition of plant and equipment 3.5 (63) (734) and the Constitution. Net cash used in investing activities (63) (734) 4 Equity The financial statements for the year ended 31 December 5 CASH FLOWS FROM FINANCING ACTIVITIES Other disclosures 2019 were authorised for issue in accordance with a Repayment of borrowings (2,500) - Significant accounting policies specific to one note are resolution of the Executive’s on 20 March 2020. Repayment of lease liabilities (16) (14) included within that note and where possible, wording Net cash used in financing activities (2,516) (14) The Committee prepares and presents financial statements has been simplified to provide clearer commentary on an annual basis. However, the Committee’s activities fall NET INCREASE IN CASH AND CASH EQUIVALENTS 168 175 on the financial report of the Committee. Accounting within a quadrennial cycle ending on 31 December of the Cash and cash equivalents at 1 January 4,109 3,934 policies determined non-significant are not included in Cash and cash equivalents at 31 December 3.1 4,277 4,109 year in which the summer Olympic Games are held. The the financial statements. There have been no changes to current Olympiad ends on 31 December 2020. the Committee’s accounting policies that are no longer The above statement of cash flows should be read in conjunction with the accompanying notes. disclosed in the financial statements. The members neither hold equity in, nor are financial lenders to, the Committee and their membership is pursuant to the Olympic Charter and the Constitution. 1.1 GENERAL INFORMATION The Committee is an Association incorporated under the The financial statements are general purpose reduced Associations Incorporation Reform Act, 2012 of Victoria disclosure requirements financial statements which: and is domiciled in Australia. • have been prepared in accordance with the requirements The Executives of the Committee’s (‘the Executive’s’) of the Australian Accounting Standards Reduced Disclosure is elected in accordance with the Constitution of the Requirements and other authoritative pronouncements of Committee (‘The Constitution’). the Accounting Standards Board (“AASB”); • are presented in Australian Dollars, being the The voting members of the Executive are also members Committee’s functional currency; of the Board of the Australian Olympic Foundation Limited. • adopt all new and revised Australian Accounting Standards and Interpretations issued by the AASB that are relevant The principal place of business is Suite 402, Level 4, 140 to the operations of the Committee and effective for George Street, Sydney NSW 2000. reporting periods beginning on or after 1 January 2019. The nature of the operations and principal activities of Refer to note 1.6 below for further details; the Committee are to operate to develop and protect the • the financial statements, except for cash flow information, Olympic Movement in Australia in accordance with the have been prepared on an accrual basis and are based Olympic Charter, its Constitution and all applicable laws. on historical costs, modified, where applicable, by the measurement at fair value of selected non-current The objects of the Committee include: assets, financial assets and financial liabilities; and (i) To develop, promote and protect the principles of • have not early adopted any Australian Accounting Olympism and the Olympic Movement in Australia; Standards and Interpretations that have been issued (ii) To promote, raise awareness of and encourage or amended but not yet effective. Refer to note 1.7 for participation in sport for benefits of health, fitness and further details. wellbeing; and The financial statements incorporate the financial statements of the Committee up to 31 December each year.

92 93 1.3 GOING CONCERN 1.6 CHANGES IN ACCOUNTING STATEMENT OF PROFIT OR LOSS The financial statements have been prepared on a going POLICIES AND DISCLOSURES AND OTHER COMPREHENSIVE INCOME concern basis which contemplates continuity of normal In the year ended 31 December 2019, the Committee FOR THE YEAR ENDED 31 DECEMBER 2018 business activities and realisation of assets and settlement reviewed its’ accounting policies and all new and revised of liabilities in the normal course of business. Standards and Interpretations issued by the AASB that are relevant to its operations and effective for the annual AS AASB FUTURE During 2020, the Committee will meet its day to day PREVIOUSLY AASB 15 AASB 16 1058 GAMES AS working capital requirements through a cash advance reporting periods beginning on or after 1 January 2019. REPORTED IMPACTS IMPACTS IMPACTS IMPACTS OTHER RESTATED $’000 $’000 $’000 $’000 $’000 $’000 facility and bank overdraft facility, guaranteed by the Changes in accounting policies and implementation of Foundation. The Committee has prepared projected cash new standards impacting the Committee that have been Revenue 22,280 2.053 - - 563 - 24,896 flow information for the year ending 31 December 2020. adopted from 1 January 2019 are: Direct costs 2,454 170 - - 823 (447) 3,000 On the basis of this information, the Executive considers Teams & Sport Operations 6,995 - - - (675) - 6,320 that the Committee will continue to operate within • AASB 15 Revenue from Contracts with Customers (‘AASB 15’) – The Committee has adopted AASB 15 from 1 Olympians and Athlete Support 1,998 - - - - - 1,998 these facilities ($11 million cash advance plus $1 million Community & Olympic Education 1,006 - - - - 447 1,453 January 2019 which resulted in changes to accounting overdraft) until their expiry on 31 May 2021, when an Information Technology 1,121 - - - - - 1,121 policies and adjustments to the amounts recognised extension to meet the needs of the forthcoming period Public Affairs and Communications 904 - - - - - 904 will be considered. in the financial statements. Details of the impacts are Support services 5,029 - 85 - - - 5,114 referenced below. Refer to note 2.2 for further details Surplus from operating activities 2,773 1,883 (85) - 415 4,986 Budgets for the 2020 Olympiad have again been prepared on the Committee’s revenue policies. Settlement on the Australian Olympic Foundation (2,773) - - - - - (2,773) on a break-even basis and based on this and the continued Total comprehensive surplus for the year - 1,883 (85) - 415 2,213 expected support of the Foundation, the Executive believe • AASB 16 Leases (‘AASB 16’) – The Committee has it is appropriate to adopt the going concern basis in the adopted AASB 16 from 1 January 2019. The new preparation of these financial statements. standard introduces three main changes: enhanced guidance on identifying whether a contract contains a lease; new lease accounting model for lessees that 1.4 ROUNDING require lessees to recognise all leases on balance sheet; The Committee has rounded off amounts in these and enhanced disclosures for leases. The adoption of financial statements to the nearest thousand dollars AASB 16 resulted in changes to accounting policies and ($’000), except where indicated. adjustments to the amounts recognised in the financial statements. Details of the impacts are referenced below. 1.5 COMPARATIVES Refer to note 3.7 for further details on the Committee’s leases policies. As a result of a change in accounting policy for the accounting of future Games (adopted retrospectively), • AASB 1058 Income of Not-for-Profit Entities (‘AASB and the retrospective adoption of AASB 16 Leases, AASB 1058’) – The Committee has adopted AASB 1058 15 Revenue from Contracts with Customers, AASB 1058 from 1 January 2019. The new standard outlines Income of Not-for Profit Entities, the comparatives in these the principles for income recognition for not-for- financial statements have been restated. Refer to note 1.6 profit entities including revenue from donations and for further detail. government grants. The adoption of AASB 1058 has resulted in changes to accounting policies and adjustments to the amounts recognised in the financial statements. Details of the impacts are referenced below. Refer to note 2.2 for further details on the Committee’s revenue policies. • Future games expenditure is no longer deferred and recognised in the relevant games year. From 1 January 2019 all games expenditure is recognised in the period incurred. The following tables summarise the impacts of adopting AASB 15, AASB 16, AASB 1058 and of the accounting policy change on accounting for future Games on the Committee’s financial statements:

94 95 STATEMENT OF FINANCIAL POSITION STATEMENT OF FINANCIAL POSITION 1 JANUARY 2018 31 DECEMBER 2018

AS AASB FUTURE AS AASB FUTURE PREVIOUSLY AASB 15 AASB 16 1058 GAMES AS PREVIOUSLY AASB 15 AASB 16 1058 GAMES AS REPORTED IMPACTS IMPACTS IMPACTS IMPACTS RESTATED REPORTED IMPACTS IMPACTS IMPACTS IMPACTS RESTATED $’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000 ASSETS Current Assets ASSETS Cash and cash equivalents 3,934 - - - - 3,934 Current Assets Trade and other receivables 13,496 (9,533) - - - 3,963 Cash and cash equivalents 4,109 - - - - 4,109 Contract Assets - 10,851 - - - 10,851 Trade and other receivables 13,382 (11,921) - - - 1,461 Deferred expenditure 2,230 202 - - (1,291) 1,141 Contract Assets - 18,867 - - - 18,867 Other current assets 320 - - - - 320 Deferred expenditure 1,201 294 - - - 1,495 Total Current Assets 19,980 1,520 - - (1,291) 20,209 Other current assets 305 - - - 305 Total Current Assets 18,997 7,240 - - - 26,237 Non Current Assets Trade and other receivables 49,132 (49,132) - - - - Non Current Assets Contract Assets - 63,366 - - - 63,366 Trade and other receivables 48,743 (48,743) - - - - Property, plant and equipment 861 - - - - 861 Contract Assets - 48,317 - - - 48,317 Right of use asset - - 3,684 - - 3,684 Property, plant and equipment 1,075 - - - - 1,075 Deferred expenditure 4,739 1,231 - - (244) 5,726 Right of use asset - - 3,125 - - 3,125 Total Non Current Assets 54,732 15,465 3,684 - (244) 73,637 Deferred expenditure 6,100 276 - - (2,144) 4,232 Total Assets 74,712 16,985 3,684 - (1,535) 93,846 Total Non Current Assets 55,918 (150) 3,125 - (2,144) 56,749 Total Assets 74,915 7,090 3,125 - (2,144) 82,986 LIABILITIES Current Liabilities LIABILITIES Trade and other payables 4,935 (799) - - - 4,136 Current Liabilities Contract liabilities - 15,152 - - - 15,152 Trade and other payables 4,568 (1,205) - - - 3,363 Deferred income 10,109 (9,872) - - - 237 Contract liabilities - 17,594 - - - 17,594 Interest bearing liabilities and borrowings 2,500 - - - - 2,500 Deferred income 12,264 (11,921) - - - 343 Lease liabilities 14 - 505 - - 519 Interest bearing liabilities and borrowings 2,500 - - - - 2,500 Provisions 710 - (376) - - 334 Lease liabilities 14 - 503 - - 517 Total Current Liabilities 18,268 4,481 129 - - 22,878 Provisions 820 - (392) - - 428 Total Current Liabilities 20,166 4,468 111 - - 24,745 Non Current Liabilities Trade and other payables 4,496 2,553 - - - 7,049 Non Current Liabilities Contract liabilities - 54,772 - - - 54,772 Trade and other payables 3,956 2,245 - - - 6,201 Deferred income 51,885 (51,263) - (432) (190) - Contract liabilities - 40,996 - - - 40,996 Lease liabilities 37 - 3,600 - - 3,637 Deferred income 50,658 (48,957) - (432) (1,154) 115 Total Non Current Liabilities 56,418 6,062 3,600 (432) (190) 65,458 Lease liabilities 24 - 3,097 - - 3,121 Total Liabilities 74,686 10,543 3,729 (432) (190) 88,336 Provisions 85 - - - - 85 Total Non Current Liabilities 54,723 (5,716) 3,097 (432) (1,154) 50,518 Net Assets 26 6,442 (45) (432) (1,345) 5,510 Total Liabilities 74,889 (1,248) 3,208 (432) (1,154) 75,263 EQUITY Net Assets 26 8,338 (83) (432) (990) 7,723 Net accumulated funds 26 6,442 (45) (432) (1,345) 5,510 Total Equity 26 6,442 (45) (432) (1,345) 5,510 EQUITY Net accumulated funds 26 8,338 (83) 432 (990) 7,723 Total Equity 26 8,338 (83) 432 (990) 7,723

96 97 The resulting accounting judgements and estimates will ACCOUNTING JUDGEMENTS AND ESTIMATES 1.7 NEW ACCOUNTING STANDARDS seldom equal the related actual results. 1.11 IMPAIRMENTS AND INTERPRETATIONS FAIR VALUE MEASUREMENT HIERARCHY Information about judgements made in applying NON-FINANCIAL ASSETS The Committee is required to classify all assets and NOT YET ADOPTED accounting policies that have the most significant effects At each reporting date, the Committee reviews the liabilities, measured at fair value, using a three-level There are a number of standards, amendments to on the amounts recognised in the financial statements carrying amount of its non-financial assets, mainly plant hierarchy, based on the lowest level of input that is standards and interpretations which have been issued by and information about assumptions and estimation and equipment, to determine whether there is any significant to the entire fair value measurement, being: the IASB that are effective for future accounting periods uncertainties that have a significant risk of resulting in indication of impairment. If any such indication exists, then that the Committee has decided not to early adopt. The material adjustment are included in the following notes: Level 1 the asset’s recoverable amount is estimated. most significant of these are: Quoted prices in active markets for identical items • Note 1.10 Fair value measurement The recoverable amount of an asset is the greater of (unadjusted); • AASB 2018-1 Annual Improvements to IFRS Standards its value in use and its fair value less costs of disposal. • Note 1.11 Impairment 2015 – 2017 Cycle - effective for the Committee Level 2 Value in use is based on the estimated future cash flows, on 1 January 2020. The amendments clarify certain • Note 3.5 Property, plant and equipment Observable direct or indirect inputs other than Level 1 discounted to their present value using a pre-tax discount requirements in a number of Standards, the most inputs; and rate that reflects current market assessments of the time • Note 3.11 Employee benefits applicable to the Committee being AASB 123 Borrowing value of money and the risks specific to the asset or cash Level 3 Costs - borrowings eligible for capitalisation; Unobservable inputs (i.e. not derived from market data). generating unit. 1.10 FAIR VALUE MEASUREMENT • AASB 101 Presentation of Financial Statements and An impairment loss is recognised if the carrying amount of A number of assets and liabilities included in the Considerable judgement is required to determine what is AASB108 Accounting Policies, Changes in Accounting an asset exceeds it recoverable amount. Impairment losses Committee’s financial statements require measurement significant to fair value and therefore which category the Estimates and Errors (Amendment – definition of are recognised in profit or loss in the period they occur. at, and/or disclosure of fair value. The fair value is based asset or liability is placed in can be subjective. material); on the price that would be received to sell an asset or paid The fair value of assets and liabilities classified as level ACCOUNTING JUDGEMENTS AND ESTIMATES • Revised Conceptual Framework for Reporting. to transfer a liability in an orderly transaction between 3 is determined using valuation models. These include IMPAIRMENT OF NON-FINANCIAL ASSETS The Committee is still determining the financial impact of market participants at the measurement date; and discounted cash flow analysis or the use of observable the above standard and a more detailed assessment will be assumes that the transaction will take place. inputs that require significant adjustments based on Goodwill and other intangible assets that have an made over the next 12 months. The fair value measurement of the Committee’s financial unobservable inputs. indefinite useful life are not subject to amortisation and and non-financial assets and liabilities utilises relevant are tested annually for impairment, or more frequently if events or changes in circumstances indicate that 1.8 FOREIGN CURRENCIES market observable inputs. Inputs used in determining fair value measurements are categorised into different they might be impaired. Other non-financial assets are The primary economic environment in which the levels based on how observable the inputs used in the reviewed for impairment whenever events or changes in Committee operates is Australia. The financial statements valuation technique utilised are (the ‘fair value hierarchy’). circumstances indicate that the carrying amount may not are therefore presented in Australian Dollars. Classifications are reviewed each reporting date and be recoverable. An impairment loss is recognised for the Transactions in foreign currencies are initially recorded transfers between levels are determined based on a amount by which the asset’s carrying amount exceeds its in Australian Dollars at the exchange rate on that reassessment of the lowest level input that is significant to recoverable amount. day. Foreign currency monetary assets and liabilities the fair value measurement. Recoverable amount is the higher of an asset’s fair value are translated into Australian Dollars at the year-end For recurring and non-recurring fair value measurements, less costs of disposal and value-in-use. The value-in use exchange rate. Where there is a movement in the external valuers may be used when internal expertise is the present value of the estimated future cash flows exchange rate between the date of the transaction and is either not available or when the valuation is deemed relating to the asset using a pre-tax discount rate specific the year end, a foreign exchange gain or loss may arise. to be significant. External valuers are selected based to the asset or cash-generating unit to which the asset Any such differences are recognised in the statement of on market knowledge and reputation. Where there is a belongs. Assets that do not have independent cash flows profit or loss and other comprehensive income. Non- significant change in fair value of an asset or liability from are grouped together to form a cash-generating unit. monetary assets and liabilities measured at historical cost one period to another, an analysis is undertaken, which are translated into Australian Dollars at the exchange rate includes a verification of the major inputs applied in the on the date of the transaction.. latest valuation and a comparison, where applicable, with external sources of data. 1.9 ACCOUNTING JUDGEMENTS AND ESTIMATES The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the reported amounts in the financial statements. Management continually evaluates its judgements and estimates in relation to assets, liabilities, contingent liabilities, revenue and expenses. Management bases its judgements, estimates and assumptions on historical experience and on other various factors, including expectations of future events, management believes to be reasonable under the circumstances.

98 99 ACCOUNTING POLICY ACCOUNTING POLICY CONT. 2.3 EXPENSES SECTION 2   SPONSORSHIP RESULTS FOR THE YEAR INTEREST ACCOUNTING POLICY Sponsorship revenue is recognised over time on a This section focuses on the results and performance of Interest revenue is recognised as interest accrues pro-rata basis evenly over the term of the relevant the Committee, with disclosures including segmental using the effective interest method. This is a method TEAMS sponsorship contract as the rights supplied are information, components of the operating surplus and of calculating the amortised cost of a financial asset available for use by the sponsor evenly throughout Expenditure for Olympic and other teams is taxation. and allocating the interest income over the relevant the contract term. Consideration is payable by the period using the effective interest rate, which is the recognised in the period incurred. 2.1 sponsor regardless of or not they exercise their rate that exactly discounts estimated future cash OPERATING SEGMENTS FINANCE COSTS rights. receipts through the expected life of the financial INFORMATION ABOUT REPORTABLE SEGMENTS asset to the net carrying amount of the financial asset. Finance costs attributable to qualifying assets are For contracts with cash consideration, the The Committee has identified its operating segments on capitalised as part of the asset. All other finance transaction price recognised is the sum of the the internal reports that are reviewed and used by the OTHER REVENUE costs are expensed in the period in which they are total cash payments due from the sponsor over Executive (chief operating decision makers) in assessing incurred, including: the term of the contract. For contracts with Other revenue is recognised when it is received or performance and determining the allocation of resources. value-in-kind consideration, the transaction price when the right to receive payment is established. • Interest on short-term and long-term borrowings; The Committee currently operates one segment, that is recognised is the market value of the goods or • Interest on leases; and the support of athletes predominately in Australia. services to be supplied. • Unwinding of the discount on provisions.

Unless otherwise stated, all amounts reported to the At inception of the contract, the full transaction FUNDRAISING Executive as the chief decision maker with respect to price is recognised as a Contract Asset and Surplus before income tax includes the following specific operations, are determined in accordance with AASB 8 a corresponding Contract Liability. Contract Fundraising revenue pertaining to events is expenses: recognised once the event has been delivered and Operating Segments. Assets are reduced over time via the invoicing 2018 of cash instalments due under the terms of the there are no further obligations to the customers. 2019 RESTATED There have been no changes to the basis of segmentation sponsorship contract. There is no discounting of Fundraising revenue from donations is recognised $’000 $’000 or the measurement basis for the segment profit or loss Contract Assets. Contract Liabilities are reduced at time of receipt as there is no contractual TEAMS during the year ended 31 December 2019. Olympic Teams over time via the recognition of sponsorship relationship with or corresponding obligation to Summer 2020 – Tokyo 4,127 618 revenue evenly over the term of the contract. donors. 2.2 REVENUE FROM CONTRACTS Summer 2024 – Paris 26 -  which is reduced evenly over the contract term. Winter 2018 – PyeongChang - 1,963 WITH CUSTOMERS Winter 2022 – Beijing 20 - LICENSING 2018 The Committee adopted AASB 15 Revenue from Contracts 2019 RESTATED Summer Youth 2018 – - 959 with Customers on 1 January 2018 using the full Licensing revenue is recognised at a point in time $’000 $’000 Buenos Aires Winter Youth 2020 – Lausanne 226 - retrospective approach. upon receipt of the royalty from the licensee due SPONSORSHIP AND LICENSING from the sale of goods on which the Committee’s Sponsorship 17,594 15,152 Total Olympic Teams Costs 4,399 3,540 The Committee’s revenue consists mainly of revenues Licensing 160 180 marks are applied. A minimum guaranteed royalty Other Teams from sponsorship and licensing, through which various is at times negotiated. Total 17,754 15,332 ANOC Beach Games 2019 – Doha 109 - rights and benefits are conferred on a sponsor in Pacific Games 2019 - Samoa 247 1 return for cash or value-in-kind consideration. These For licensing arrangements, the transaction price is TIMING OF TRANSFER OF REVENUE Total Other Teams Costs 356 1 recognised as the royalty payable by the licensee at arrangements are governed by standard contracts Over time 17,594 15,152 PROPERTY executed between the parties. the agreed rate. The transaction price is allocated Point in time 160 180 Right-of-use asset amortisation 574 558 to the period in which the royalty is reported and Total 17,754 15,332 payable by the licensee. Depreciation 207 166 GRANTS Loss on disposal of assets - 342 GRANTS International Olympic Committee 7 23 Other 228 143 Olympic Solidarity 637 817 Total Property Costs 1,009 1,209 Grants revenue is recognised once all obligations Organising Committees - 92 attributable to receipt of the grant have been of the Olympic Games FINANCING COSTS performed. Oceania National Olympic 18 29 Bank loans and overdrafts 146 87 Committee Interest on lease liabilities 3.6 87 99 State Government and 632 149 Total Finance Costs 233 186 Statutory bodies Total 1,294 1,110 2.4 INCOME TAX EXPENSE OTHER INCOME  Interest 2 2 The Committee is exempt from Australian income tax. Other revenue 36 566 Total 38 568

100 101 3.2 TRADE AND OTHER RECEIVABLES 3.3 DEFERRED EXPENDITURE 3.5 PROPERTY, PLANT AND SECTION 3     ACCOUNTING POLICY ACCOUNTING POLICY EQUIPMENT BALANCE SHEET DISCLOSURES This section focuses on the financial position of the Each class of property, plant and equipment is Trade receivables generally have 30 – 90 day DEFERRED COMMISSIONS EXPENSE Committee, with disclosures including components of carried at cost or fair value as indicated less, where terms. The Committee applies the AASB 9 assets and liabilities. The costs of commissions payable to agents for applicable, any accumulated depreciation and simplified approach to measuring expected credit the securing of Contract Assets are recognised impairment losses. loss using a lifetime expected credit loss provision as deferred expenditure. Deferred commissions 3.1 for trade receivables and contract assets. To Plant and equipment is stated at historical cost CASH AND CASH EQUIVALENTS expense are amortised in line with the allocation of measure expected credit losses on a collective less accumulated depreciation and impairment. the transaction price to the statement of profit or ACCOUNTING POLICY basis, trade receivables and contract assets are Historical cost includes expenditure that is directly loss and other comprehensive income (refer Note grouped based on similar credit risk and aging. The attributable to the acquisition of the items. 3.8). contract assets have similar risk characteristics to Cash and short term deposits in the statement of The depreciable amount of all fixed assets, the trade receivables. financial position comprise of cash on hand and including buildings and capitalised lease assets in banks, and money market investments readily The expected loss rates are based on the 2018 but excluding freehold land, is depreciated on a 2019 RESTATED convertible to cash within three months or less Committee’s historical credit losses experienced, $’000 $’000 straight line basis over the asset’s useful life to the and which are subject to an insignificant risk of adjusted for current and forward looking DEFERRED EXPENDITURE (CURRENT) Committee commencing from the time the asset is changes in value. information on macroeconomic factors affecting Deferred commissions expense 1,581 1,495 held ready for use. the Committee’s customers. For the purposes of the statement of cash flows, 1,581 1,495 The depreciation rates used for each class of cash and cash equivalents consist of cash and cash The effective interest rate method is the rate DEFERRED EXPENDITURE (NON-CURRENT) depreciable assets are: equivalents as defined above, net of outstanding that exactly discounts estimated future cash Deferred commissions expense 3,806 4,232 33% COMPUTER NETWORK AND EQUIPMENT bank overdrafts. receipts through the expected life of the financial 3,806 4,232 instrument to the net carrying amount of the 10% FURNITURE financial asset. 8-16% LEASEHOLD IMPROVEMENTS 2018 3.4 OTHER ASSETS 24% OFFICE EQUIPMENT 2019 RESTATED  $’000 $’000 2018 An item of plant and equipment is derecognised 2018 2019 RESTATED 2019 RESTATED upon disposal or when no further future economic Cash at Bank 4,277 4,109 $’000 $’000 $’000 $’000 benefits are expected from its use, or disposal. Total 4,277 4,109 Prepayments 186 272 TRADE AND OTHER RECEIVABLES (CURRENT) Refundable deposits 5 33 The residual values, useful lives and depreciation Trade debtors 1,379 282 The above figures are reconciled to cash and cash 191 305 methods are reviewed, and adjusted if appropriate, Australian Olympic Foundation 4,626 1,071 equivalents at the end of the financial year as shown in at each reporting date. the statement of cash flows. Other receivables 163 108 Total 6,168 1,461 2018 2019 RESTATED CONTRACT ASSETS 2018 $’000 $’000 Total Contract Assets 2019 RESTATED Opening balance 67,184 74,217 $’000 $’000 RECONCILIATION OF LOSS AFTER TAX TO NET CASH Contracts inception for year 9,322 3,819 Computer network and 131 305 FROM OPERATING ACTIVITIES Instalments invoiced (18,866) (10,852) equipment at cost Surplus after income tax - 2,213 Total 57,640 67,184 Accumulated depreciation - computer (57) (211) expense for year network and equipment Contract Assets – current 26,243 18,867 Adjustments for 74 94 Depreciation and amortisation 782 724 (instalments due within 1 year) Furniture at cost 15 13 Interest on lease liability 87 99 Contract Assets – non current 31,397 48,317 Accumulated depreciation - furniture (1) - Loss on write-off of assets - 342 (instalments due after 1 year) 14 13 Change in operating assets Total 57,640 67,184 and liabilities Office equipment at cost 14 94 Trade and other receivables (4,593) 2,517 Accumulated depreciation - office (11) (55) Other assets 9,353 6,961 equipment Deferred expenditure 338 1,141 3 39 Trade payables (4,006) (13,473) Leasehold improvements at cost 1,246 1,240 Provisions (91) 178 Accumulated depreciation – leasehold (454) (311) Deferred income 877 221 improvements Net cash from operating activities 2,747 923 792 929 Total property, plant and equipment 883 1,075

102 103 PROPERTY, PLANT AND EQUIPMENT RECONCILIATION ACCOUNTING POLICY Reconciliations of the written down values at the beginning and end of the current and previous financial year are set out below: The above approach will be applied to contracts entered into or changed on or after 1 July 2017. Previously the Committee determined at contract inception whether an arrangement is or contains a lease under IFRIC 4. The COMPUTER NETWORK OFFICE LEASEHOLD AND EQUIPMENT FURNITURE EQUIPMENT IMPROVEMENTS TOTAL Committee has elected to apply the practical expedient to grandfather the assessment of which transactions $’000 $’000 $’000 $’000 $’000 are leases. Contracts that were not identified as leases under AASB 117 and IFRIC 4 were not reassessed for Restated balance 1 January 2018 68 15 53 725 861 whether there is a lease. For contracts entered into before 1 July 2017, the Committee determined whether the Additions 76 - - 644 720 arrangement was or contained a lease based on the substance of the arrangement and an assessment of whether Disposals - (2) - (340) (342) the fulfilment of the arrangement was dependent on the use of a specific asset or assets and the arrangement Depreciation expense (50) - (14) (100) (164) conveyed a right to use the asset. Restated balance as at 31 December 2018 94 13 39 929 1,075

AS A LESSEE COMPUTER NETWORK OFFICE LEASEHOLD AND EQUIPMENT FURNITURE EQUIPMENT IMPROVEMENTS TOTAL The Committee recognises a right-of-use asset and a lease liability at the lease commencement date. The right- $’000 $’000 $’000 $’000 $’000 of-use asset is initially measured at cost which comprises the initial amount of the lease liability adjusted for any Balance 1 January 2019 94 13 39 929 1,075 lease payments made at or before the commencement date plus any initial direct costs incurred and an estimate Additions 40 2 5 16 63 Disposals (10) - (37) (1) (48) of costs to dismantle and remove the underlying asset or to restore the underlying asset or the site on which it is Depreciation expense (50) (1) (4) (152) (207) located, less any lease incentives received Balance as at 31 December 2019 74 14 3 792 883 The right-of-use asset is subsequently depreciated using the straight-line method from the commencement date to the earlier of the end of the useful life of the right-of-use asset or the end of the lease term. The estimated ACCOUNTING JUDGEMENTS AND ESTIMATES useful lives of right-of-use assets are determined on the same basis as those of property and equipment. In addition, the right-of-use asset is periodically reduced by impairment losses if any and adjusted for certain remeasurements of the lease liability. ESTIMATION OF USEFUL LIVES OF ASSETS The Committee determines the estimated useful lives and related depreciation and amortisation charges for its The lease liability is initially measured at the present value of the lease payments that are not paid at the property, plant and equipment and finite life intangible assets. The useful lives could change significantly as a result commencement date, discounted using the interest rate implicit in the lease or if that rate cannot be readily of technical innovations or some other event. The depreciation and amortisation charge will increase where the determined the Committee’s incremental borrowing rate. Generally, the Committee uses its incremental useful lives are less than previously estimated lives, or technically obsolete or non-strategic assets that have been borrowing rate as the discount rate. abandoned or sold will be written off or written down. The lease liability is measured at amortised cost using the effective interest method. It is remeasured when there is change in future lease payments arising from a change in an index or rate, if there is a change in the Committee’s estimate of the amount expected to be payable under a residual value guarantee or if the Committee changes its assessment of whether it will exercise a purchase, extension or termination option. 3.6 LEASES When the lease liability is remeasured in this way, a corresponding adjustment is made to the carrying amount The Committee adopted AASB 16 Leases (AASB 16) using the full retrospective approach on 1 January 2019. Refer to of the right-of-use asset or is recorded in the profit or loss if the carrying amount of the right-of-use asset has note 1.6 for further details. been reduced to nil.

ACCOUNTING POLICY

At inception of a contract, the Committee assesses whether a contract is, or contains a lease. A contract is or contains a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. To assess whether a contract conveys the right to control the use of an identified asset the Committee assesses whether: • The contract involves the use of an identified assets-this may be specified explicitly or implicitly and should be physically distinct or represent substantially all of the capacity of a physically distinct asst. If the supplier has a substantive substitution right, then the asset is not identified; • The Committee has the right to obtain substantially all of the economic benefits from use of the asset throughout the period of use: and • The Committee has the right to direct the use of the asset. The Committee has the right when it has the decision-making rights that are most relevant to changing how and for what purpose the asset is used.

104 105 The Committee’s leases include buildings, office equipment and motor vehicles. The information about leases for which the Committee is a lessee is presented below: 3.8 CONTRACT LIABILITIES ACCOUNTING POLICY 2018 2019 RESTATED $’000 $’000 Contract Liabilities are recognised at inception of sponsorship contracts. The full transaction price of the RIGHT-OF-USE ASSET contract is recognised as a contract liability that is reversed over time by the allocation of transaction price to Opening balance at 1 January 3,125 3,684 the statement of profit or loss and other comprehensive income on a pro-rata basis evenly over the term of the Additions/adjustments 169 (1) relevant sponsorship contract as the rights supplied are available for use by the sponsor evenly throughout the Amortisation for the year (574) (558) contract term. (Refer Note 2.2) Balance as at 31 December 2,720 3,125

LEASE LIABILITY - DISCOUNTED CASHFLOWS Current 582 517 Non-current 2,634 3,121 2018 2019 RESTATED Balance as at 31 December 3,216 3,638 $’000 $’000 LEASE LIABILITY TOTAL CONTRACT LIABILITIES Maturity analysis – contractual undiscounted cashflows Opening balance 58,590 69,924 Less than one year 657 640 Contracts inception for year 9,322 3,818 One to five years 2,610 2,588 Income recognition (17,594) (15,152) More than five years 171 850 50,318 58,590 Total undiscounted lease liabilities as at 31 December 3,438 4,078

AMOUNTS RECOGNISED IN PROFIT OR LOSS Contract Liabilities – current (revenue recognised within 1 year) 18,676 17,594 Interest on lease liabilities (note 2.3) 87 99 Contract Liabilities – non current (revenue recognised after 1 year) 31,642 40,996 87 99 50,318 58,590

AMOUNTS RECOGNISED IN STATEMENT OF CASH FLOWS Total cash outflow/(inflow) for leases 16 (39) 3.9 DEFERRED INCOME 16 (39)  ACCOUNTING POLICY

3.7 TRADE CREDITORS AND OTHER CREDITORS Grants are recognised as deferred income and reversed over time to the statement of profit or loss and other ACCOUNTING POLICY comprehensive income in accordance with achievement of performance obligations. Fundraising receipts (excluding donations) for events yet to be completed are recognised as deferred income and Trade and other payables represent the liabilities for goods and services received by the Committee that remain over time to the statement of profit or loss and other comprehensive income in the period of event completion. unpaid at the end of the reporting period. The balance is recognised as a current liability with the amounts normally paid within 30 days of recognition of the liability.

The costs of commissions payable (but not yet due) to agents for the securing of Contract Assets are recognised as 2018 other payables 2019 RESTATED $’000 $’000 DEFERRED INCOME (CURRENT) Grants 1,196 321 2018 2019 RESTATED Fundraising 25 - $’000 $’000 Other 22 22 CURRENT 1,243 343 Trade payables 877 671 Commissions payable - 847 DEFERRED INCOME (NON-CURRENT) Settlement to Australian Olympic Foundation 4,366 - Deferred income (current quad) State Olympic Councils 809 990 Deferred income (future quads) 93 115 Other payables and accruals 843 855 93 115 6,895 3,363

NON CURRENT Commissions payable 7,357 6,201 7,357 6,201

106 107 3.10 PROVISIONS 3.12 INTEREST BEARING LIABILITIES   SECTION 5  2018 AND BORROWINGS 2019 RESTATED OTHER DISCLOSURES ACCOUNTING POLICY $’000 $’000 CURRENT Employee benefits 350 428 All liabilities and borrowings are initially recognised 5.1 KEY MANAGEMENT PERSONNEL 350 428 at cost, being the fair value of the consideration DISCLOSURES NON CURRENT received net of issue costs associated with the Employee benefits 23 27 borrowings. (A) COMPENSATION OF KEY MANAGEMENT Other 48 58 PERSONNEL After initial recognition, interest bearing loans 71 85 and borrowings are subsequently measured at The aggregate compensation made to the Executive and amortised cost using the effective interest rate other members of key management personnel of the Committee is set out below. 3.11 EMPLOYEE BENEFITS method. Amortised cost is calculated by taking into account any issue costs and any discount or ACCOUNTING POLICY premium on settlement. 2018 2019 RESTATED Gains or losses are recognised in the statement $’000 $’000 SHORT-TERM EMPLOYEE BENEFITS of comprehensive income when the liabilities Short-term employee benefits 2,942 2,729 Provision is made for the Committee’s obligation for short-term employee benefits. Short-term employee are derecognised and as well as through the Post-employment benefits 161 141 benefits are benefits (other than termination benefits) that are expected to be settled wholly before 12 months amortisation process. 3,103 2,870 after the end of the annual reporting period in which the employees render the related service, including salaries Loans and borrowings are classified as current A Culture, Remuneration and Nominations Committee and annual leave. Short-term employee benefits are measured at the (undiscounted) amounts expected to be liabilities, unless the Committee has an reviews and determines on behalf of the Executive, the paid when the obligation is settled. unconditional right to defer settlement of the remuneration of the President (if any), Chief Executive liability, where maturity is less than 12 months. The Committee’s obligations for short-term employee benefits are recognised as a separate line item under Officer (‘CEO’), other senior management and senior current provisions in the statement of financial position. consultants. Its role includes responsibility for the content 2019 2018 RESTATED of contracts, superannuation entitlements, any senior OTHER LONG-TERM EMPLOYEE BENEFITS $’000 $’000 level dismissal or involuntary terminations, retirement and Provision is made for employees’ long service leave entitlements not expected to be settled wholly within 12 Cash advance - 2,500 termination entitlements, any allowances, fringe benefit months after the end of the annual reporting period in which the employees render the related service. Other - 2,500 policies and professional indemnity and liability insurance long-term employee benefits are measured at the present value of the expected future payments to be made to policies. employees. Expected future payments incorporate anticipated future wage and salary levels, durations of service FINANCING ARRANGEMENTS Remuneration shall be reasonable, competitive and and employee departures and are discounted at rates determined by reference to market yields at the end of the At 31 December 2019 and 2018 the Committee had equitable so as to attract, retain and motivate high calibre reporting period on government bonds that have maturity dates that approximate the terms of the obligations. unrestricted access to an existing $1 million overdraft management and consultants. It shall relate to individual Upon the remeasurement of obligations for other long-term employee benefits, the net change in the obligation facility with Westpac, of which $0 had be drawn down. performance and also that of the Committee. is recognised in profit or loss as a part of employee benefits expense. The Culture Remuneration and Nominations The Committee’s obligations for long-term employee benefits are presented as non-current provisions in its SECTION 4 Committee Charter is available on the Committee’s statement of financial position, except where the Committee does not have an unconditional right to defer  website olympics.com.au. settlement for at least 12 months after the end of the reporting period, in which case the obligations are EQUITY presented as current provisions. Any remuneration of the Olympic Team Executive This section focuses on the financial position of the members is reported in the notes to these Financial Committee, with disclosures including components of Statements. assets and liabilities. 2018 2019 RESTATED $’000 $’000 4.1 ACCUMULATED FUNDS EMPLOYEE BENEFITS  Annual leave 212 263 2018 Provision for long service leave 161 192 2019 RESTATED 373 455 $’000 $’000 Restated surplus / (accumulated loss) 7,723 5,510 at the beginning of the financial year Surplus / (loss) after income tax - 2,213 expense for the year Surplus / (accumulated loss) at the 7,723 7,723 end of the financial year

108 109 SHORT TERM POST EMPLOYMENT MEETINGS OF THE EXECUTIVE SALARY & MOTOR VEHICLE SUPERANNUATION FEES / PARKING CONTRIBUTIONS TOTAL The members of the Executive and the number of Executive meetings (including meetings of committees and $ $ $ $ commissions) attended by each of the Executive during the financial year were: EXECUTIVE MEMBERS J Coates1 2019 580,000 13,532 - 593,532 CULTURE, AUDIT REMUNERATION President 2018 580,000 11,411 - 591,411 TEAM AND RISK FINANCE & NOMINATIONS ATHLETES’ EXECUTIVE MEMBERS EXECUTIVE EXECUTIVE COMMITTEE COMMISSION COMMITTEE COMMISSION I Chesterman2 2019 150,000 - - 150,000 Executive Member 2018 160,000 - - 160,000 A B A B A B A B A B A B M Allen 4 4 - - - - 3 3 - - - - M Carroll 2019 485,971 7,629 20,746 514,346 Chief Executive Officer 2018 463,258 9,864 21,327 494,449 M Arbib 2 4 - - 3 3 3 3 - - - - H Brownlee 4 4 ------1 1 - - C Carracher 4 4 - - - - 3 3 1 1 - - MANAGEMENT M Carroll i 4 4 11 11 3 3 2 3 1 1 4 4 T Day 2019 339,254 - 20,746 360,000 Chief Financial Officer 2018 341,358 - 18,642 360,000 I Chesterman 4 4 11 11 3 3 3 3 - - - - K Chiller 3 4 ------J Edwards 2019 237,948 - 20,746 258,694 ii Head of Community Engagement 2018 237,207 - 21,487 258,694 J Coates 4 4 - - 3 3 3 3 - 1 - - & Olympian Services C Fettell 4 4 - - 2 3 2 3 - - - - S Gordon3 2019 279,254 7,629 20,746 307,629 E Halls 4 4 4 4 3 3 - - 1 1 - - Head of Public Affairs 2018 270,377 - 18,619 288,996 S Hooker 4 4 ------4 4 & Communication M Murphy 3 4 - - 2 3 - - 1 1 - - 4 S Longes 2019 166,579 - 15,825 182,404 J Tomkins 3 4 ------4 4 Legal Counsel & 2018 47,208 - 4,485 51,693 Company Secretary C Moynihan 2019 222,365 - 20,746 243,111 A = Number of meetings attended Chief Information Officer 2018 214,758 - 20,203 234,961 B = Reflects the number of meetings held during the time the member of the Executive held office during the period. L Pellegrini 2019 227,553 - 20,746 248,299 i Head of Games Operations 2018 219,599 - 20,123 239,722 While not a member, M Carroll also attends Audit and Risk Committee, Finance Commission, Culture, Remuneration & Sports Services and Nominations Committee, and Athletes’ Commission meetings; 5 A Wallis 2019 224,254 - 20,746 245,000 ii Head of People & Culture While not a member, the President also attends Audit and Risk, and Culture, Remuneration and Nominations 2018 173,663 - 16,101 189,764 Committee meetings. TOTAL 2019 2,913,178 28,790 161,047 3,103,015 2018 2,707,428 21,275 140,987 2,869,690

1 Consulting Fees 2 Consultancy Fees as Chef de Mission of Summer or Winter Olympic Games 3 Commenced 15 January 2018 4 Commenced 24 September 2018 5 Commenced 12 March 2018 Except as indicated above members of the Executive serve on an honorary basis. During the year, the Committee paid insurance premiums for cover in respect of Directors’ and Officers’ Liability Insurance. The Committee has indemnified the members of the Executive and the Athletes’ Commission against all losses or liabilities that may arise from their position as a member of each body, except where the liability arises out of conduct involving a lack of good faith, criminal activity or a wilful breach of employment conditions or relevant Codes of Conduct. Liability of the Committee is limited to the maximum amount payable under the Directors’ and Officers’ Liability Insurance policy of the Committee. The Committee has entered into Deeds of Indemnity and Access with all members of the Executive and Athletes’ Commission. Members of the Executive are also indemnified against legal fees and expenses where, with the approval of the Executive, they institute legal proceedings arising out of loss and damage suffered as a direct consequence of their membership of the Executive. The indemnification is on the basis that the Committee is reimbursed such legal fees and expenses as a first priority out of any award or settlement. No member of the Executive requested any such indemnity during the year.

110 111 FINANCIAL RISK MANAGEMENT 5.2 REMUNERATION OF AUDITORS 5.4 FINANCIAL INSTRUMENTS AND   FINANCIAL ASSETS AT AMORTISED COST The Executive monitors and manages the financial risk During the financial year the following fees were paid or FINANCIAL RISK MANAGEMENT Financial assets with contractual cash flows related to the operations of the Committee. Exposure payable for services provided by EY Australia, the auditor FAIR VALUE OF FINANCIAL INSTRUMENTS representing solely payments of principal and to a variety of financial risks, credit risk, liquidity risk and of the Committee. market risk (interest rate and currency risk) arises in the Due to their short-term nature, the carrying amount of interest and held within a business model of ‘hold to normal course of the Committee’s operations. The risk 2018 the current trade receivables, current payables and current collect’ contractual cash flows are accounted for at 2019 RESTATED management policies are designed to minimise potential borrowings is assumed to approximate their fair value. amortised cost using the effective interest method. $’000 $’000 adverse effect on the Committee’s financial performance. Audit of the financial statements 84 143 Loans and borrowings are recognised at their fair value of The Committee’s trade and most other receivables fall into this category of financial instruments. 84 143 the consideration received, net of transaction costs. The Committee holds the following financial instruments as at the reporting date: IMPAIRMENT ACCOUNTING POLICY 2018 The Committee assessed on a forward-looking basis 2019 RESTATED 5.3 RELATED PARTY TRANSACTIONS the expected credit losses associated with its debt $’000 $’000 RECOGNITION AND DERECOGNITION (A) THE STATE OLYMPIC COUNCILS instruments carried at amortised cost and FVOCI. FINANCIAL ASSETS Cash and cash equivalents 4,277 4,109 Financial assets and financial liabilities are Expected credit losses are the probability-weighted The State Olympic Councils are members of the Contract Assets 57,640 67,184 recognised when the Committee becomes a estimate of credit losses over the expected life of a Committee and the Committee provides financial and Trade and other receivables 6,168 1,461 party to the contractual provisions of the financial financial instrument. A credit loss is the difference other support to State Olympic Councils. 68,085 72,754 instrument. Financial assets are derecognised between all contractual cash flows that are due and The Committee owed the State Olympic Councils the when the contractual rights to the cash flows from all cash flows expected to be received, all discounted FINANCIAL LIABILITIES following balances at balance date: the financial asset expire, or when the financial at the original effective interest rate of the financial Trade and other payables 14,252 9,564 asset and substantially all the risks and rewards are instrument Interest bearing liabilities - 2,500 2019 2018 transferred. A financial liability is derecognised when it is extinguished, discharged, cancelled or expires. The impairment methodology applied depends on 14,252 12,064 $’000 $’000 whether there has been a significant increase in New South Wales Olympic Council 417 470 credit risk. Victorian Olympic Council 89 98 CLASSIFICATION AND INITIAL MEASUREMENT South Australian Olympic Council 1 70 OF FINANCIAL ASSETS The Committee makes use of a simplified approach Queensland Olympic Council 109 123 Financial assets are classified according to their in accounting for trade and other receivables as well Western Australian Olympic Council 157 164 business model and the characteristics of their as contract assets and records the loss allowance Tasmania Olympic Council 21 19 contractual cash flows and initially measured at at the amount equal to the expected lifetime ACT Olympic Council 14 45 fair value adjusted for transaction costs (where credit losses. In using this practical expedient, the Total 808 989 applicable). Committee uses its historical experience, external indicators and forward-looking information (B) AUSTRALIAN OLYMPIC FOUNDATION SUBSEQUENT MEASUREMENT OF FINANCIAL to calculate the expected credit losses using a On 16 February 1996 the Australian Olympic Foundation ASSETS provision matrix. (“Foundation”) was constituted by a Deed of Settlement For the purpose of subsequent measurement, The Committee considers a financial asset in and the Australian Olympic Foundation Limited was financial assets, other than those designated and default when contractual payments are 90 days appointed as Trustee. The Directors of the Trustee and effective as hedging instruments, are classified into past due. However, in certain cases, the Committee members are those persons being voting members of the the following four categories: may also consider a financial asset to be in default Executive of the Committee in office from time to time. when internal or external information indicates the • Financial assets at amortised cost As at balance date, the Foundation owed the Committee Committee is unlikely to receive the outstanding • Financial assets at fair value through profit or loss $4,626,000 (2018: $1,071,000) being distributions contractual amounts in full before taking into (FVTPL) unpaid and trade debtors. account any credit enhancements held by the • Debt instruments at fair value through other Committee. As at balance date, the Committee owed the Foundation comprehensive income (FVTOCI) $4,366,000 (2018: nil) being net settlement due for the • Equity instruments at FVTOCI year. All income and expenses relating to financial assets that are recognised in profit or loss are presented within finance costs, finance income

or other financial items, except for impairment of trade receivables which is presented within other expenses.

112 113 INTEREST RATE RISK The credit quality is assessed and monitored as follows: The table below sets out the interest rates applicable to financial instruments that are exposed to interest rate risk. EQUIVALENT S&P INTERNALLY RATED RATING 1 - NO DEFAULT TOTAL INTEREST NON-INTEREST $’000 $’000 $’000 BEARING BEARING TOTAL FINANCIAL ASSETS 2019 2019 2019 As at 31 December 2019 $’000 $’000 $’000 Cash and cash equivalents 4,277 - 4,277 FINANCIAL ASSETS Trade and other receivable 6,168 - 6,168 Cash and cash equivalents - 4,277 4,277 Contract assets 57,640 - 57,640 Trade and other receivable - 6,168 6,168 Total financial assets 68,085 - 68,085 Total financial assets - 10,445 10,445

As at 31 December 2018 - Restated FINANCIAL LIABILITIES Cash and cash equivalents 4,109 - 4,109 Trade and other payables - 14,252 14,252 Trade and other receivable 1,461 - 1,461 Loans and borrowings - - - Contract assets 67,184 - 67,184 Total financial liabilities - 14,252 14,252 Total financial assets 72,754 - 72,754

INTEREST NON-INTEREST LIQUIDITY RISK BEARING BEARING TOTAL 2018 RESTATED 2018 RESTATED 2018 RESTATED Liquidity risk arises from the financial liabilities of the Committee and its ability to meet their obligations to repay their $’000 $’000 $’000 financial liabilities as and when they fall due. The Committee manages liquidity risk by maintaining adequate reserves and FINANCIAL ASSETS monitoring budget and actual cash flows, expenditure and commitments and liabilities. Cash and cash equivalents - 4,109 4,109 The following are the contractual maturities of financial liabilities excluding the impact of netting arrangements: Trade and other receivable - 1,461 1,461 Total financial assets - 5,570 5,570 CARRYING CONTRACTUAL 12 MONTHS AMOUNT CASH FLOWS OR LESS FINANCIAL LIABILITIES $ $ $ Trade and other payables - 9,564 9,564 NON-DERIVATIVE FINANCIAL LIABILITIES Loans and borrowings 2,500 - 2,500 As at 31 December 2019 Total financial liabilities 2,500 9,564 12,064 Trade and other payables 14,252 14,252 6,895 Employee benefits 373 373 350 There is no interest payable on trade and other payables for the Committee as at balance date. The Committee was Lease liability 3,216 3,216 582 exposed to a variable interest rate of between 1.94% - 2.94% (2018: 2.99% - 3.01%) on interest bearing loans and 17,841 17,841 7,827 borrowings. As at 31 December 2018 - Restated Trade and other payables 9,564 9,564 3,363 CREDIT RISK Employee benefits 455 455 428 Credit risk represents the risk of financial loss to the Committee if a sponsor or licensee or counterparty of the financial Borrowings 2,500 2,500 2,500 instrument fails to meet its contractual obligations and arises principally from the Committee’s receivables from sponsors Lease liability 3,638 3,638 517 and licensees. This in turn is influenced by the characteristics of each sponsor and licensee and the Committee regularly 16,157 16,157 6,808 assess the creditworthiness of its sponsors and licensees. The Committee’s maximum exposure to credit risk at the reporting date was:: 5.5 COMMITMENTS, GUARANTEES AND CONTINGENT LIABILITIES 2018 The Committee has no commitments other than leases, refer to note 3.6 for further detail. The Committee has no 2019 RESTATED guarantees or contingent liabilities at 31 December 2019. $’000 $’000 FINANCIAL ASSETS Cash and cash equivalents 4,277 4,109 5.6 Trade and other receivable 6,168 1,461 EVENTS SUBSEQUENT TO THE END OF THE FINANCIAL YEAR Contract assets 57,640 67,184 There are no significant matters sufficiently advanced or at a level of certainty that would require disclosure, that have Total financial assets 68,085 72,754 arisen since the end of the financial year, which significantly affect the operations of the Committee, the results of those operations or the state of affairs of the Committee in future financial years.

114 115 EXECUTIVE’S DECLARATION INDEPENDENT AUDITOR’S REPORT

In the opinion of the Executive of the Committee:

(a) the financial statements and notes of the Committee as set out on pages 89 to 115 are drawn up so as to give a true and fair view of the Committee’s financial position for the year ended 31 December 2019 and of their performance Ernst & Young Services Pty Limited Tel: +61 2 9248 5555 for the year ended on that date; and 200 George Street Fax: +61 2 9248 5959 SydneyErnst & Young NSW Services2000 Australia Pty Limited ey.com/auTel: +61 2 9248 5555 200 George Street Fax: +61 2 9248 5959 (b) the financial statements and notes have been prepared in accordance with the basis of accounting described in ErnstGPO Box& Young 2646 Services Sydney PtyNSW Limited 2001 Tel: +61 2 9248 5555 Sydney NSW 2000 Australia ey.com/au 200 George Street Fax: +61 2 9248 5959 Section1; and GPOErnst Box& Young 2646 Services Sydney PtyNSW Limited 2001 Tel: +61 2 9248 5555 Sydney NSW 2000 Australia ey.com/au 200 George Street Fax: +61 2 9248 5959 SydneyGPO Box NSW 2646 2000Sydney Australia NSW 2001 ey.com/au (c) there are reasonable grounds to believe that the Committee will be able to pay its debts as and when they become GPO Box 2646 Sydney NSW 2001 due and payable. Independent Auditor's Report to the Members of Australian Olympic CommitteeIndependent Inc. Auditor's Report to the Members of Australian Olympic This statement is made out in accordance with a resolution of the Executive. CommitteeIndependent Inc. Auditor's Report to the Members of Australian Olympic Australian Olympic Signed on behalf of the Executive at Sydney, NSW this 20 March 2020. CommitteeIndependent Inc. Auditor's Report to the Members of CommitteeOpinion Inc. Opinion OpinionWe have audited the financial report of Australian Olympic Committee Inc. (the Association), which WeOpinioncomprises have audited the statement the financial of financial report ofposition Australian as at Olympic 31 December Committee 2019, Inc. the (the statement Association), of comprehensive which Wecomprisesincome, have statementaudited the statement the of financial changes of financial report in equity ofposition Australianand statement as at Olympic 31 December of cash Committee flows 2019, for Inc. thethe (the statementyear Association), then ended,of comprehensive whichnotes to the comprisesincome,Wefinancial have statementstatements,audited the statement the of financial includingchanges of financial report ina summaryequity ofposition Australianand of statement significantas at Olympic 31 December of accounting cash Committee flows 2019, policies, for Inc. thethe (the statementyear and Association), thethen Executive’s ended,of comprehensive whichnotes to the income,financialcomprisesdeclaration. statementstatements, the statement of includingchanges of financial ina summaryequity position and of statement significantas at 31 December of accounting cash flows 2019, policies, for thethe statementyear and thethen Executive’s ended,of comprehensive notes to the financialdeclaration.income, statementstatements, of includingchanges ina summaryequity and of statement significant of accounting cash flows policies, for the year and thethen Executive’s ended, notes to the financialIn our opinion statements, the accompanying including a summaryfinancial reportof significant presents accounting fairly, in all policies, material and respects, the Executive’s the financial J D COATES AC I CHESTERMAN AM declaration. Indeclaration.position our opinion of the the Association accompanying as at 31 financial December report 2019, presents and its fairly, financial in all performancematerial respects, and its the cash financial flows for President Vice President Inpositionthe our year opinion ofthen the endedthe Association accompanying in accordance as at 31 financial with December Australian report 2019, presents Accounting and its fairly, financial Standards in all performancematerial – Reduced respects, a Disclosurend its the cash financial flows for Australian Olympic Committee Australian Olympic Committee positiontheInRequirements our year opinion ofthen the ,endedthe AssociationAssociations accompanying in accordance as Incorporations at 31 financial with December Australian report Act 2019, Incorporation presents Accounting and its fairly, financial Reform Standards in all performanceActmaterial –2012 Reduced respects, of Victoria a Disclosurend its the cashand financial flows for theRequirementspositionConstitution. year ofthen the ,ended AssociationAssociations in accordance as Incorporations at 31 with December Australian Act 2019, Incorporation Accounting and its financial Reform Standards performanceAct –2012 Reduced of Victoria a Disclosurend its cashand flows for RequirementsConstitution.the year then ,ended Associations in accordance Incorporations with Australian Act Incorporation Accounting Reform Standards Act –2012 Reduced of Victoria Disclosure and Constitution.Requirements , Associations Incorporations Act Incorporation Reform Act 2012 of Victoria and BasisConstitution. for Opinion Basis for Opinion BasisWe conducted for Opinion our audit in accordance with Australian Auditing Standards. Our responsibilities under WeBasisthose conducted standards for Opinion our are audit further in accordance described inwith the Australian Auditor’s ResponsibilitiesAuditing Standards. for the Our Audit responsibilities of the Financial under WethoseReport conducted standards section ourof are our audit further report. in accordance described We are independent inwith the Australian Auditor’s of the ResponsibilitiesAuditing Association Standards. in for accordance the Our Audit responsibilities withof the the Financial ethical under thoseReportWerequirements conducted standards section of ourof arethe our audit furtherAccounting report. in accordance described We Professional are independent inwith the Australian Auditor’s and Ethicalof the ResponsibilitiesAuditing AssociationStandards Standards. Board’s in for accordance the Our APES Audit responsibilities 110 withof theode the Financial ethicalof underthics for Reportrequirementsthoserofessional standards section Accountants of of arethe our furtherAccounting report. (the described We Code) Professional are independentthat in the are Auditor’s andrelevant Ethicalof the Responsibilitiesto AssociationStandardsour audit of Board’s in the for accordance financial the APES Audit 110report withof theode the in Financial Australia. ethicalof thics forWe rofessionalrequirementsReporthave also section fulfille Accountants of of dthe our Accounting report.other (the ethical We Code) Professional are responsibilities independentthat are andrelevant Ethicalof in the accordance to AssociationStandardsour audit with of Board’s in the the accordance financial Code. APES 110report with ode the in Australia. ethicalof thics forWe haverofessionalrequirements also fulfille Accountants of dthe our Accounting other (the ethical Code) Professional responsibilities that are andrelevant Ethical in accordance to Standardsour audit with of Board’s the the financial Code. APES 110report ode in Australia. of thics forWe haverofessionalWe believe also fulfille that Accountants thed our audit other evidence(the ethical Code) weresponsibilities that have are obtained relevant in isaccordance to sufficient our audit andwith of theappropriate the financial Code. toreport provide in Australia. a basis for We Wehaveour believeopinion. also fulfille that thed our audit other evidence ethical weresponsibilities have obtained in isaccordance sufficient andwith appropriate the Code. to provide a basis for Weour believeopinion. that the audit evidence we have obtained is sufficient and appropriate to provide a basis for ourWe believeopinion. that the audit evidence we have obtained is sufficient and appropriate to provide a basis for Responsibilitiesour opinion. of the Executives for the Financial Report Responsibilities of the Executives for the Financial Report ResponsibilitiesThe Association’s Executive of the Executivesis responsible forfor thethe preparation Financial and Report fair presentation of the financial report TheResponsibilitiesin accordance Association’s with Executive Australian of the Executivesis Accountingresponsible Standardsforfor thethe preparation Financial – Reduced and ReportDisclosure fair presentation Requirements of the, Associationsfinancial report IncorporationsThein accordance Association’s with Act Executive IncorporationAustralian is Accountingresponsible Reform Act Standardsfor 2012 the preparation of – VictoriReduceda andand Disclosure fairConstitution presentation Requirements and offor the such, Associationsfinancial internal report controlinIncorporationsThe accordance Associa as thetion’s Executivewith Act Executive IncorporationAustralian determines is Accountingresponsible Reform is necessary Act Standardsfor 2012 the to preparation ofenable – VictoriReduced thea and andpreparation Disclosure fairConstitution presentation Requirements and fairand presentationoffor the such, Associationsfinancial internal of reportthe financialIncorporationscontrolin accordance as report the Executivewith Act that IncorporationAustralian is free determines from Accounting materialReform is necessary Act misstatement,Standards 2012 to ofenable – VictoriReduced whether thea andpreparation Disclosure due Constitution to fraud Requirements and or fairand error. presentationfor such, Associations internal of the controlfinancialIncorporations as report the Executive Act that Incorporation is free determines from materialReform is necessary Actmisstatement, 2012 to ofenable Victori whether thea andpreparation due Constitution to fraud and or fairand error. presentationfor such internal of the Infinancialcontrol preparing as report the the Executive that finan iscial free determines report, from materialthe isExecutive necessary misstatement, is toresponsible enable whether the for preparation assessingdue to fraud theand or Association’sfair error. presentation ability of tothe continueInfinancial preparing reportas a the going that finan concern, iscial free report, from disclosing, materialthe Executive as misstatement, applicable, is responsible matters whether for relating assessingdue to to fraud going the or Association’s concern error. and abilityusing the to goingIncontinue preparing concern as a the going basis finan concern,ofcial accounting report, disclosing, the unless Executive as the applicable, Executive is responsible matters either for inten relating assessingd to toliquidate going the Association’s concern the Association and abilityusing or the to ceasecontinuegoingIn preparing concernoperations, as a the going basis finan or concern,of havecial accounting report, no disclosing,realistic the unless Executive alternative as the applicable, Executive is butresponsible to matters eitherdo so. for inten relating assessingd to toliquidate going the Association’s concern the Association and abilityusing or the to goingceasecontinue concernoperations, as a going basis or concern,of have accounting no disclosing,realistic unless alternative as the applicable, Executive but to matters eitherdo so. inten relatingd to toliquidate going concern the Association and using or the to ceasegoing concernoperations, basis or of have accounting no realistic unless alternative the Executive but to eitherdo so. intend to liquidate the Association or to cease operations, or have no realistic alternative but to do so.

116 117

A member firm of Ernst & Young Global Limited Liability limited by a scheme approved under Professional Standards Legislation ACNA member 004 860 firm 860 of Ernst & Young Global Limited Liability limited by a scheme approved under Professional Standards Legislation A member firm of Ernst & Young Global Limited ACN 004 860 860 ALiability member limited firm ofby Ernsta scheme & Young approved Global under Limited Professional Standards Legislation LiabilityACN 004 limited 860 860 by a scheme approved under Professional Standards Legislation ACN 004 860 860

Auditor's Responsibilities for the Audit of the Financial Report Auditor's Responsibilities for the Audit of the Financial Report ur obectives are to obtain reasonable assurance about hether the financial report as a hole is free fromur obectives material misstatement, are to obtain reasonable whether due assurance to fraud aboutor error, hether and to the issue financial an auditor’s report reportas a hole that includesis free ourfrom opinion material easonable misstatement, assurance whether is adue high to level fraud of or assurance, error, and but to issueis not an a guaranteeauditor’s report that an that audit includes conductedour opinion in easonable accordance assurance ith the A isustralian a high level Auditing of assurance, Standards but ill is alays not a guarantee detect a material that an audit misstatementconducted in accordance hen it exists ith isstatements the Australian can Auditing arise fromStandards fraud illor error alays and detect are considered a material material if, individuallymisstatement or henin the it aggregate, exists isstatements they could reasonably can arise from be expected fraud or toerror influence and are the considered economic material decisions if, of usersindividually taen oron in the the basis aggregate, of this financial they could report reasonably be expected to influence the economic decisions of users taen on the basis of this financial report

As part of an audit in accordance ith the Australian Auditing Standards, e exercise professional udgmentAs part of andan audit maintain in accordance professional ith scepticism the Australian throughout Auditing the Standards, audit e alsoe exercise professional udgment and maintain professional scepticism throughout the audit e also • dentify and assess the riss of material misstatement of the financial report, hether due to fraud • dentifyor error, and design assess and the perform riss ofaudit material procedures misstatement responsive of the to thosefinancial riss, report, and obtainhether audit due evidence to fraud orthat error, is sufficient design andand performappropriate audit to procedures provide a basis responsive for our to opinio thosen riss, he ris and of obtain not detecting audit evidence a thatmaterial is sufficient misstatement and appropriate resulting from to provide fraud isa basishigher for than our for opinio onen resulting he ris from of not error, detecting as fraud a materialmay involve misstatement collusion, forgery,resulting intentional from fraud omissions, is higher than misrepresentations, for one resulting or from the error,override as offraud AUSTRALIAN mayinternal involve control collusion, forgery, intentional omissions, misrepresentations, or the override of internal control • btain an understanding of internal control relevant to the audit in order to design audit OLYMPIC • btainprocedures an understanding that are appropriate of internal in the control circumstances, relevant to but the not audit for in the order purpose to design of expressing audit an proceduresopinion on the that effectiveness are appropriate of the in theAssociation’s circumstances, internal but control. not for the purpose of expressing an opinion on the effectiveness of the Association’s internal control. • Evaluate the appropriateness of accounting policies used and the reasonableness of accounting FOUNDATION

• Evaluateestimates the and appropriateness related disclosures of accounting made by the policies Executive used and the reasonableness of accounting estimates and related disclosures made by the Executive ANNUAL • onclude on the appropriateness of the Executive’s use of the going concern basis of accounting • oncludeand, based on on the the appropriateness audit evidence obtained,of the Executive hether’s usea material of the goinguncertainty concern exists basis related of accounting to events and,or conditions based on that the mayaudit cast evidence significant obtained, doubt hether on the Association’sa material uncertainty ability to existscontinue related as a goingto events orconcern conditions f e that conclude may cast that significant a material doubt uncertainty on the exists,Association’s e are abilityrequired to tocontinue dra attention as a going in our REPORT concernauditor’s freport e conclude to the related that a disclosuresmaterial uncertainty in the financial exists, report e are or, required if such disclosuresto dra attention are in our auditor’sinadequate, report to modify to the ourrelated opinion disclosures ur conclusions in the financial are based report on or, the if audit such evidencedisclosures obtained are up to inadequate,the date of our to modifyauditor’s our report opinion oever, ur conclusions future events are based or conditions on the audit may evidencecause the obtained Association up to to thecease date to ofcontinue our auditor’s as a going report concern oever, future events or conditions may cause the Association to cease to continue as a going concern • Evaluate the overall presentation, structure and content of the financial report, including the • Evaluatedisclosures, the and overall hether presentation, the financial structure report and represents content theof the underlying financial transactions report, including and eventsthe in a disclosures,manner that andachieves hether fair the presentation financial report represents the underlying transactions and events in a manner that achieves fair presentation e communicate with the ecutive regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

rnst oung

aniel unningham

artnerA member firm of Ernst & Young Global Limited egisteredALiability member limited firm ompany ofby Ernsta scheme & Young Auditor approved Global under Limited Professional Standards Legislation ydneyLiability limited by a scheme approved under Professional Standards Legislation arch

118 119

A member firm of Ernst & Young Global Limited Liability limited by a scheme approved under Professional Standards Legislation CONTENTS CHAIR'S REVIEW

PAGE

CHAIR'S REVIEW 121 DISTRIBUTIONS AND MEMBERS OF THE BOARD OF THE TRUSTEE’S REPORT 125 PORTFOLIO RETURNS Total cash distributions to the AOC over the 19 years STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME 128 since the Foundation received the $88.48m legacy from hosting the 2000 Olympic Games in Sydney reached STATEMENT OF FINANCIAL POSITION 129 $124m by December 31, 2019. Cash distributions paid to the AOC were $6.25m in 2019 ($6.25m in each of STATEMENT OF CHANGES IN EQUITY 130 2017 and 2018).

STATEMENT OF CASHFLOWS 131 Actual cash distributions to the AOC by quadrennium were as follows: NOTES TO THE FINANCIAL STATEMENTS 132 JOHN COATES AC CHAIR CASH DISTRIBUTIONS BY QUADRENNIUM STATEMENT BY THE BOARD 139 30 28.5 26.7 INDEPENDENT AUDITOR'S REPORT 140 AUSTRALIAN OLYMPIC FOUNDATION 25.2 24.9 25 (FOUNDATION) OBJECTIVES 18.75 Concerns for the global economy in 2020 have increased 20 following the outbreak of COVID 19. The AOF is well 15 positioned though. It had a stellar year in 2019 which

created a significant buffer. The AOF has also continued to VALE IN $M 10 build the Fund in line with its stated investment objectives and increased measures to protect the downside risk. Since 5 inception the investment objectives of the Foundation have been, and remain, to protect and grow the capital 0 2004 2008 2012 2016 2020 base while providing sufficient income and liquidity to (TO DATE) provide a base distribution to the AOC for its Olympic and other Teams, programs and expenses. Over this same period the net assets of the Foundation, In view of the continued low yields on the 10-year bond after distributions, have grown by $63.2m, from rate a target return was introduced for the 2017 – 2020 $109m at the commencement of 2001 to $171.4m quadrennium of CPI plus 4.3% pa. If this target can be at the commencement of 2020 (cf. $150.8m at the achieved, it should yield at least $25m plus CPI over the commencement of 2019). quadrennium. It is considered this target is achievable in the current investment environment based on the expected The following graph shows the composite return for the yield of the portfolio. The strategic asset allocation of the Foundation since inception of 8.3% p.a. versus the historical Foundation is being closely monitored with the challenging target objective of a rolling 4-year CPI plus 10-year bond global market environment. rate of 3.9% and the current quadrennium target of 6.0% (being 4.0% plus CPI of 2.0%)

120 121 AOF INVESTMENT PORTFOLIO RETURN (%PA) SINCE INCEPTION During the year the Board has been active with changes • avoidance of dedicated funds to higher risk assets AOF INVESTMENT PORTFOLIO RETURN (%PA) SINCE INCEPTION focused on improving fund performance and managing such as emerging markets, hedge funds or private downside risk. Acting on advice from Mercer as Investment equity; 13.0% 12.0% Consultant and the AOF Investment Advisory Committee, • well diversified by managers in terms of manager 11.0% the following steps were taken: equity styles; 10.0% • maintained cash holding targets in the strategic asset • limited foreign exchange exposure; 9.0% 8.3% allocation at 10%; 8.0% • absence of gearing / highly geared funds or 7.0% 6.0% • in addition, monitored cash held within the Fund derivatives; 6.0% managers’ investments bringing the total underlying • sufficient cash buffer for spending purposes; 5.0% cash holdings across the portfolio to 15.6%; 4.0% • inclusion of defensive strategies like low volatility • invested a further $5m in a Kapstream cash enhanced 3.0% 3.9% equities. fund to look for higher returns than those offered by 2.0% At year end the Foundation had invested with the term deposits albeit with some exposure to higher 1.0% following asset allocation: 0.0% risk as the fund is exposed to returns on ‘A’ rated -1.0% investment grade corporate bonds; • 42.1% of its investments in managed funds in -2.0% Australian equities; • added two new Australian Equity Fund Managers to -3.0% the portfolio to diversify risk – redeeming funds from • 18.6% in overseas equities; -4.0% -5.0% long term holdings with Schroders and Maple Brown • 21% in direct property; -6.0% Abbott and reinvesting the funds in Northcape and • 8.7% in absolute return funds (including cash -7.0% Wilsons; enhanced fund); and 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 v- v- v- v- v- v- v- v- v- v- v- v- v- v- v- v- v- v- v- y- y- y- y- y- y- y- y- y- y- y- y- y- y- y- y- y- y- y- • in 2018 the AOF had committed $10m to invest in • 9.6 % in cash. Dec-19 No No No No No No No No No No No No No No No No No No No Ma Ma Ma Ma Ma Ma Ma Ma Ma Ma Ma Ma Ma Ma Ma Ma Ma Ma Ma unlisted infrastructure fund (IFM Investment Australia) PORTFOLIO RETURN SINCE INCEPTION (%PA) ROLLING 4 YEAR RETURN OBJECTIVE (%PA) QUADRENNIUM TARGET (%PA) The investments are spread across twelve managed funds: PORTFOLIO RETURN SINCE INCEPTION (%PA) ROLLING 4 YEAR RETURN OBJECTIVE (%PA) QUADRENNUM TARGET (%PA) to broaden the holding of longer term assets. As this Fund has yet to call on the funds in the absence of • Australian equities with the established funds of suitable investment in Australia the AOF has moved Schroder Australian Equities (a growth investment its funds held in global infrastructure from Maple style), Northcape Australian Equity Fund, Colonial The Foundation remains a very long-term investor – AUSTRALIAN OLYMPIC FOUNDATION PERFORMANCE Brown to the Vanguard Global Infrastructure Index First State Small Cap Fund and Wilson Australian intended to assist in financing the AOC’s activities over COMPARED TO OBJECTIVES AT 31 DEC 2019 Fund which was performing more consistently; and Equity Fund; the indefinite future. The Foundation concentrates its • redeemed in full its holdings in the value focused • overseas equities through the Arrowstreet Global investments in growth assets – property and equities, 20.0% 18.6% 17.1% Maple-Brown Abbott Australia Plus Asia Trust whose Equity Fund, (split into hedged and unhedged including international equities. Over time these assets performance had continued to underperform the holdings), and Alliance Bernstein Global Equity Fund are expected to provide stronger returns and growth than 15.0% market and reinvested the balance temporarily in the and Vanguard Global Listed Infrastructure Fund; investments in bonds and cash at the current low yield 10.3% 9.4% Vanguard Australian Shares High Yield Fund. After 10.0% 8.3% • direct property, Lend Lease (commercial) and levels and deliver substantial distributions. 6.7% year end the Board continued to take steps to manage Goodman Australia (industrial); 5.0% 4.0% 3.9% downside risk and redeemed in full the holdings in 2.7% • absolute return through the Schroder Real Return REVIEW OF 2019 the Vanguard Australian Shares High Yield Fund of Fund; and $11.5m and reinvested the balance in a managed The year was marked by continuing volatility in the global 0.0% • cash enhanced fund through Kapstream. equity markets as markets reacted to various global events. 1 YEAR 3 YEARS SINCE INCEPTION volatility equities fund with Alliance Bernstein which actively seeks to reduce downside risk. To reduce foreign currency risk, the exposure in the However, in contrast to 2018, the year delivered a very AOF BENCHMARK CPI + BOND RATE Arrowstreet Global Equity Fund is split into hedged and strong result as several of the factors that had weighed on Given the elevated valuations in global equity markets, unhedged holdings back to the Australian dollar. In the last markets moved towards a positive outcome. The easing Cash distributions received from the invested funds and continued uncertainty regarding the US elections, quarter of 2017, the hedged percentage was reduced to of global trade tensions, reduction in interest rates in the reached $7.6m in 2019 (2018- $7.5m). Coronavirus and global tensions in 2020 the AOF has 25% (2016 - 32%) following reassessment of the outlook US and Australia, continued economic strength in the maintained a portfolio that caters to downside protection Global Equity Markets returned 28.0% on an unhedged for the Australian dollar, given the increasingly negative USA and clarity on the direction of Brexit saw the markets during times of market stress: basis and 26.8% on a hedged basis in 2019 as the grow with the US S&P 500 index increasing to record carry versus US interest rates. This has been continued Australian dollar weakened over the year. The US S&P • defensive assets through allocations to cash, real levels to 3,231 up from 2,532 at the start of the year. through 2018 and 2019 with actual hedge levels being 500 index increased by 31.5% in US dollars. estate, infrastructure, and absolute return income maintained around 20-22%. The performance of the AOF Fund to December 31, products; The Australian ASX 200 accumulation index returned 2019 is best illustrated by the following graph highlighting 23.4% in 2019 and the Australian All Ordinaries Index • avoidance of allocations to long dated bonds / lower the outperformance in 2019. showed an increase of 24.1% in 2019. grade credit at times of extremely low yields;

122 123 GOVERNANCE There are currently 12 of them, namely: investments. I acknowledge the counsel provided by Dr Harry Liem and the Mercer team in providing their MEMBERS OF THE BOARD GEOFFREY HENKE AO The Foundation was established on 16 February 1996 ongoing advice to AOF Limited. OF THE TRUSTEE’S by Trust Deed between Julius Lockington Patching as PHILLIP COLES AM settlor on the one part and Australian Olympic Foundation KEVAN GOSPER AO OUTLOOK FOR 2020 REPORT Limited (AOF Limited) as Trustee. It was established to JOHN COATES AC Equity markets in February and early March have develop and protect the Olympic Movement in Australia in JOHN DEVITT AM declined sharply, driven by concerns about the spread of accordance with the Olympic Charter. The members and SIR DONALD TRESCOWTHICK AC KBE COVID-19 and its potential impact on the global economy The members of the Board of the directors of the Trustee are the voting members of the PETER MONTGOMERY AM and corporate earnings. While its long-term implications Trustee present their report together Executive of the AOC from time to time. The AOC is the MICHAEL WENDEN AM MBE are uncertain, the global impact on supply chains, the Primary Beneficiary pursuant to the Trust Deed and after HELEN BROWNLEE AM with the financial statements of the travel and tourism sectors and confidence in general could 3 April 2018, the sole beneficiary of the Foundation. RONALD HARVEY CVO AM Australian Olympic Foundation (‘the be enough to tip key economies into recession. Central DOUG DONOGHUE AM banks are responding with cuts to interest rates and Foundation’) for the financial year ended On 3 April 2018. the Trust Deed of the Foundation was IAN CHESTERMAN AM amended, including to: governments are developing stimulus packages to ease 31 December 2019. The Trust Deed was established with the AOC the Primary the economic impact. While rate cuts at these already low (a) align the objectives of the Foundation with those of the Beneficiary and with Nil General Beneficiaries. All of the yield levels are expected to have limited impact, a peak in The Foundation is a discretionary Trust constituted by AOC under its Constitution, as amended in 2015; members of the AOC, including National Federations, the number of COVID-19 cases could be a catalyst for a Deed of Settlement dated 16 February 1996 (‘the (b) limit total distributions during any four-year were excluded from the class of potential General recovery. Trust Deed’) between Julius L. Patching as Settlor Distribution Period commencing with 2021 to four per Beneficiaries. and the Australian Olympic Foundation Limited as Market volatility is likely to remain in the short-term as the cent per annum of the net asset value of the Foundation Trustee (‘the Trustee’). The Trustee has the overall On 3 April 2018, pursuant to the terms of the amended virus continues to evolve and efforts to control the virus calculated as at the first day of each Distribution Period; responsibility for the corporate governance of the Trust Deed, the Trustee of the Foundation irrevocably further disrupt economic activity. Despite the disruptive Foundation, including its strategic direction, the (c) require that any decision to distribute more than 4 per declared an extensive number of additional persons and short-term impact on the global economy, we still expect review of plans established by the Foundation and the cent per annum will be subject to: bodies as being excluded. global economic growth to return to trend over 2020 and monitoring of performance against these plans. The 2021, albeit with higher downside risks than previously i. ratification by a Special Majority of the members of the The result of these changes means the Foundation’s Foundation is a company limited by guarantee. The anticipated. Trustee (75% of those entitled to vote); and capital and ongoing distributions are secure and the AOC Foundation’s registered office is located at Level 4, is able to fund its activities independent from Government As long-term investors, it is important to maintain ii. prior written consent of “the Required Majority of Museum of Contemporary Art, 140 George Street, and free of outside pressures of any kind. discipline and focus on the longer-term time horizon and Guardians” (75% of those entitled to vote); Sydney, NSW 2000. The Directors of AOF Limited continue to receive advice we expect 2020 to be another challenging year for the (d) provide that no guarantees and indemnities may be The Board of the Trustee comprises those persons from the AOF Investment Advisory Committee and the directors of AOF Limited and its advisers. given or security provided without the consent of “the being voting members of the Executive of the Foundation’s funds have been invested in accordance with Required Majority of Guardians” if the potential liability Australian Olympic Committee Incorporated (‘the the Investment Advisory Committee’s recommendations. exceeds the Maximum Sum as determined under the Committee’), as prescribed by the Articles of provisions of the Trust Deed; The independent members of the Investment Advisory Association of the Trustee. The Articles of Association Committee are Chairman Dr John Hewson, Paul further prescribe that a voting member of the (e) require that any further amendments to the Trust Batchelor, Angus Douglas and Dr Helen Nugent and we Executive of the Committee on being deemed to be Deed will require the same 75% percentage ratification very much appreciate their time, diligence and expertise. admitted to membership of the Trustee shall likewise by the members of the Trustee and the same 75% be deemed to be appointed a Director of the Trustee. percentage consent by the Guardians, again, in each case Matt Allen, Craig Carracher and I represented AOF of those entitled to vote; and Limited on the Investment Advisory Committee with the Foundation administered during the year by Garry (f) provide that in addition to the concurrence of the Wayling as Executive Director and to whom we are most President of the IOC, for removal and appointment of a appreciative for the many skills and diligence he brings to New Trustee: this role. i. the members and directors of the New Trustee must The Investment Advisory Committee continues to meet be the same members and directors as of the Resigning quarterly. It reviews the overall investment strategy Trustee; and annually and meets with each of the fund managers ii. the Constitution of the New Trustee must contain the annually. same provisions as the Constitution of the Resigning The Directors of AOF Limited and the members of Trustee. the Investment Advisory Committee continue to be The Guardians are the Life Members of the Primary assisted in their work by Mercer, one of the largest and Beneficiary as appointed in accordance with its most experienced investment consulting firms globally. Constitution. Mercer monitors each of the managers overall portfolio on a continuous basis and provides quarterly reports on performance and developments to the Investment Advisory Committee, as well as drawing attention to any significant events affecting a manager or the Foundation’s

124 125 The Audit and Risk Committee comprises four members of results of those operations or the state of affairs of the 1  MEETINGS the Board who collectively provide the mix of skills, experience Foundation in future financial years. The number of meetings of the members of the Board of the Trustee held during the year ended 31 December 2019, and other qualities appropriate for this role. Members of the and the number of meetings attended by each member were: Audit and Risk Committee during the year were: I CHESTERMAN, CHAIR 8  ENVIRONMENTAL REGULATION BOARD MEMBER BOARD MEETING AUDIT AND RISK INVESTMENT ADVISORY M ARBIB The Foundation’s operations are not subject to COMMITTEE MEETING COMMITTEE MEETING E HALLS environmental regulations under Australian law. A B A B A B M MURPHY M Allen 4 4 - - 3 4 M Arbib 2 4 3 3 - - 9 INDEMNIFICATION AND 2  PRINCIPAL ACTIVITIES   H Brownlee 4 4 - - - - INSURANCE OF OFFICERS During the financial year, the principal continuing activities C Carracher 4 4 - - 4 4 of the Foundation were the development and protection AND AUDITORS M Carrolli 4 4 3 3 4 4 of the Olympic Movement in Australia in accordance with The Foundation has indemnified members of the Board I Chesterman 4 4 3 3 - - the Olympic Charter including, in particular, contributing of the Trustee against all losses or liabilities that may K Chiller 3 4 - - - - funding to the preparation and participation of the arise from their position as a member of the Board, Australian Teams in the Olympic Games, Olympic Winter J Coatesii 4 4 2 3 3 4 except where the liability arises out of conduct involving Games, Youth Olympic Games and Regional Games and a lack of good faith, criminal activity or a wilful breach of C Fettell 4 4 2 3 - - the costs and expenses of the AOC. There have been employment conditions or relevant Code of Conduct. E Halls 4 4 3 3 - - no changes to the principal activities of the Foundation Liability of the Foundation is limited to the maximum S Hooker 4 4 - - - - during the year. amount payable under the Directors’ and Officers’ Liability M Murphy 3 4 2 3 - - insurance Policy of the Foundation. J Tomkins 3 4 - - - - 3 OPERATING AND During the year, the Foundation has paid insurance   premiums for cover in respect of Directors’ and Officers’ A = Number of meetings attended FINANCIAL REVIEW Liability Insurance. B = Number of meetings held during the time the Board Member held office during the period. Information on the operations and financial position of i While not a member, the CEO of the Committee also attends Audit and Risk Committee and Investment Advisory the Foundation is set out in the Chair’s Review at the This Members of the Board of the Trustee’s Report is Committee meetings; beginning of this Annual Report. made in accordance with a resolution of the Directors at ii While not a member, the Chair of the Foundation also attends Audit and Risk Committee meetings. Sydney, NSW on 20 March 2020.

4  SIGNIFICANT CHANGES INVESTMENT ADVISORY COMMITTEE Mercer Investment Consulting was appointed in 2000 IN THE STATE OF AFFAIRS and reappointed in 2004, 2010 and 2017 to advise the The Investment Advisory Committee was established There have been no significant changes in the state of Investment Advisory Committee on the Foundation’s in 1996 to advise the Board and comprises members affairs of the Foundation during the year. J D COATES AC of the Board and others who are “independent” of the investment strategy (i.e. the long term strategic split Chair Committee and the Foundation and who serve in an between asset classes) and the appointment and Australian Olympic Foundation honorary and non-managerial capacity only. performance of Investment Fund Managers. 5  DISTRIBUTIONS The members of the Investment Advisory Committee AUDIT AND RISK COMMITTEE For the year ended 31 December 2019 distributions during the year were: To assist in the execution of its responsibilities, the Board totalling $10,876,000 have been paid to the Australian J Hewson, Chair (independent) on 20 July 2001 established the Audit Committee Olympic Committee Inc. (2018: $7,321,000). P Batchelor (independent) (reconstituted as Audit and Risk Committee on 19 March I CHESTERMAN AM C Carracher 2015). The primary objective of the Audit and Risk Director J Coates Committee is to assist the Board to fulfil its corporate 6  LIKELY DEVELOPMENTS Australian Olympic Foundation A Douglas (independent) governance and overseeing responsibilities relating to the Likely developments in the operations of the Foundation financial reporting process, the system of internal control H Nugent (independent) are set out in the Chair’s Review at the beginning of this and management of financial risk, the audit process, and M Allen Annual Report. the process for monitoring compliance with laws and The investment objectives of the Foundation are to regulations, the IOC Code of Ethics and the Code of protect and grow the capital base while providing sufficient Conduct for the Board. income and liquidity to provide a base distribution to the 7  EVENTS SUBSEQUENT Committee towards its known commitments. The Audit and Risk Committee’s role is to report TO REPORTING DATE to the Board and provide appropriate advice and recommendations on matters relevant to its Charter in There are no significant matters, sufficiently advanced order to facilitate decision making by the Board. The Audit or at a level of certainty that would require disclosure, and Risk Committee Charter is available on the website that have arisen since the end of the financial year, which olympics.com.au. significantly affect the operations of the Foundation, the

126 127 STATEMENT OF PROFIT OR LOSS AND STATEMENT OF FINANCIAL POSITION OTHER COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 DECEMBER 2019 FOR THE YEAR ENDED 31 DECEMBER 2019

2019 2018 2019 2018 NOTE $’000 $’000 NOTE $’000 $’000

REVENUE FROM OPERATING ACTIVITIES ASSETS Managed funds distributions 2.2 7,632 7,508 Current assets Changes in fair value of investments 3.3 15,074 (5,717) Cash and cash equivalents 3.1 11,922 10,170 Net gain / (loss) on sale of investments 3,036 (205) Trade and other receivables 3.2 5,952 1,548 Fee rebates 319 197 Investments 3.3 158,223 140,254 Interest 293 208 Total current assets 176,097 151,972 Settlement from Australian Olympic Committee Inc. 5,462 2,773 Total assets 176,097 151,972 Total Revenue 31,816 4,764 LIABILITIES EXPENSES Current liabilities Fund manager fees 33 4 Trade and other payables 3.4 4,682 1,093 Investment strategy fees 115 103 Total current liabilities 4,682 1,093 Administration 256 280 Total liabilities 4,682 1,093 Total Expenses 404 387 Net assets 171,415 150,879

Net profit before income tax 31,412 4,377 EQUITY Net income tax expense 2.3 - - Capital reserve 4.1 171,415 150,879 Profit after income tax expense for the year 31,412 4,377 Total equity attributable to equity holders of the entity 171,415 150,879

Total comprehensive income for the year 31,412 4,377 The above statement of financial position should be read in conjunction with the accompanying notes.

STATEMENT OF DISTRIBUTION Net profit 31,412 4,377 Transfer (to) / from capital reserve 4.1 (20,536) 2,944 Total available for distribution 10,876 7,321

Distribution payable / paid the Australian Olympic Committee 10,876 7,321

The above statement of profit or loss and comprehensive income should be read in conjunction with the accompanying notes.

128 129 STATEMENT OF CHANGES IN EQUITY STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2019 FOR THE YEAR ENDED 31 DECEMBER 2019

2019 2018 2019 2018 NOTE $’000 $’000 NOTE $’000 $’000

Balance at beginning of year 150,879 153,823 CASH FLOWS FROM OPERATING ACTIVITIES Total comprehensive income for the year Receipts from organisations 314 199 Profit for the year after income tax 31,412 4,377 Payments to organisations (361) (500) Total comprehensive income for the year 31,412 4,377 Interest received 285 160 Managed funds distributions received 7,623 7,560 TRANSACTIONS WITH OWNERS, RECORDED DIRECTLY IN EQUITY Net cash from operating activities 3.1 7,861 7,419 Income distribution payable/paid to the Australian Olympic Committee Inc. 4.1 (10,876) (7,321) Total transactions with owners (10,876) (7,321) CASH FLOWS FROM INVESTING ACTIVITIES Purchase of investments (50,425) (7,883) Balance at end of year 171,415 150,879 Proceeds from sale of managed funds 50,566 11,775 Net cash from investing activities 141 3,892 The above statement of changes in equity should be read in conjunction with the accompanying notes. CASH FLOWS FROM FINANCING ACTIVITIES Payment of distributions 4.1 (6,250) (6,250) Net cash used in financing activities (6,250) (6,250)

NET INCREASE IN CASH AND CASH EQUIVALENTS 1,752 5,061 Cash and cash equivalents at 1 January 10,170 5,109 Cash and cash equivalents at 31 December 3.1 11,922 10,170

The above statement of cash flows should be read in conjunction with the accompanying notes.

130 131 The Foundation is still determining the financial impact of includes a verification of the major inputs applied in the NOTES TO THE FINANCIAL STATEMENTS the above standard and a more detailed assessment will be latest valuation and a comparison, where applicable, with FOR THE YEAR ENDED 31 DECEMBER 2019 made over the next 12 months. external sources of data.

ACCOUNTING JUDGEMENTS AND ESTIMATES 1.6 ACCOUNTING JUDGEMENTS AND • have not early adopted any Australian Accounting ESTIMATES Fair Value Measurement Hierarchy SECTION 1 Standards and Interpretations that have been issued  The preparation of the financial statements requires The Foundation is required to classify all assets and or amended but not yet effective. Refer to note 1.5 for management to make judgements, estimates and liabilities, measured at fair value, using a three-level BASIS OF PREPARATION further details. assumptions that affect the reported amounts in the hierarchy, based on the lowest level of input that In preparing the 2019 financial statements, the financial statements. Management continually evaluates its is significant to the entire fair value measurement, Foundation has grouped notes into sections under five key 1.2 GOING CONCERN judgements and estimates in relation to assets, liabilities, being: categories: The financial statements have been prepared on a contingent liabilities, revenue and expenses. Management • Level 1: Quoted prices in active markets for bases its judgements, estimates and assumptions on identical items (unadjusted); 1. BASIS OF PREPARATION going concern basis which contemplates continuity of historical experience and on other various factors, • Level 2: Observable direct or indirect inputs other 2. RESULTS FOR THE YEAR normal business activities and realisation of assets and including expectations of future events, management than Level 1 inputs; and 3. BALANCE SHEET DISCLOSURES settlement of liabilities in the normal course of business. believes to be reasonable under the circumstances. The • Level 3: Unobservable inputs (i.e. not derived from 4. EQUITY The Members of the Board of the Trustee are satisfied resulting accounting judgements and estimates will seldom market data). 5. OTHER DISCLOSURES the Foundation is a going concern, as it incurred a total comprehensive profit $31,412,000 for the period, it has a equal the related actual results. Considerable judgement is required to determine Significant accounting policies specific to one note are what is significant to fair value and therefore which net asset position of $171,415,000 and a cash balance of Information about judgements made in applying included within that note and where possible, wording category the asset or liability is placed in can be $11,922,000 as at 31 December 2019.. accounting policies that have the most significant effects has been simplified to provide clearer commentary subjective. on the amounts recognised in the financial statements on the financial report of the Foundation. Accounting 1.3 and information about assumptions and estimation The fair value of assets and liabilities classified policies determined non-significant are not included in ROUNDING uncertainties that have a significant risk of resulting in as level 3 is determined using valuation models. the financial statements. There have been no changes to The Foundation has rounded off amounts in these These include discounted cash flow analysis or the material adjustment are included in the following notes: the Foundation’s accounting policies that are no longer financial statements to the nearest thousand dollars use of observable inputs that require significant disclosed in the financial statements. ($’000), except where indicated. • Note 1.7 Fair Value Measurement adjustments based on unobservable inputs. • Note 1.8 Impairment 1.1 BASIS OF PREPARATION 1.4 CH ANGES IN ACCOUNTING The financial statements of the Foundation as at and for POLICIES AND DISCLOSURES 1.7 FAIR VALUE MEASUREMENT the year ended 31 December 2019 were authorised for In the year ended 31 December 2019, the Foundation  issue in accordance with a resolution of the Board of the has reviewed all new and revised Standards and A number of assets and liabilities included in the Trustee on 20 March 2020. Interpretations issued by the AASB that are relevant to its Foundation’s financial statements require measurement at, and/or disclosure of fair value. The fair value is based The financial statements are general purpose reduced operations and effective for the annual reporting periods on the price that would be received to sell an asset or paid disclosure requirements financial statements which fulfill beginning on or after 1 January 2019. There were no to transfer a liability in an orderly transaction between the Board’s financial reporting requirements under the material new standards impacting the Foundation that market participants at the measurement date; and Trust Deed and: have been adopted from 1 January 2019. assumes that the transaction will take place. • have been prepared in accordance with the requirements The fair value measurement of the Foundation’s financial of Australian Accounting Standards Reduced Disclosure 1.5 NEW ACCOUNTING STANDARDS  and non-financial assets and liabilities utilises relevant Requirements and other authoritative pronouncements AND INTERPRETATIONS market observable inputs. Inputs used in determining of the Accounting Standards Board (“AASB”), and comply NOT YET ADOPTED fair value measurements are categorised into different with other requirements of the law; There are a number of standards, amendments to levels based on how observable the inputs used in the • are presented in Australian Dollars, being the standards and interpretations which have been issued by valuation technique utilised are (the ‘fair value hierarchy’). Foundation’s functional currency; the AASB that are effective for future accounting periods Classifications are reviewed each reporting date and transfers between levels are determined based on a • adopt all new and revised Australian Accounting Standards that the Foundation has decided not to early adopt. The reassessment of the lowest level input that is significant to and Interpretations issued by the AASB that are relevant most significant of these are: the fair value measurement. to the operations of the Foundation and effective for • AASB 101 Presentation of Financial Statements and reporting periods beginning on or after 1 January 2019. AASB108 Accounting Policies, Changes in Accounting For recurring and non-recurring fair value measurements, Refer to note 1.4 below for further details; Estimates and Errors (Amendment – definition of external valuers may be used when internal expertise • the financial statements, except for cash flow material); and is either not available or when the valuation is deemed information, have been prepared on an accrual basis and to be significant. External valuers are selected based • Revised Conceptual Framework for Reporting. are based on historical costs, modified, where applicable, on market knowledge and reputation. Where there is a by the measurement at fair value of selected non- significant change in fair value of an asset or liability from current assets, financial assets and financial liabilities; and one period to another, an analysis is undertaken, which

132 133 1.8 IMPAIRMENT 2.2 REVENUE 3.2 TRADE AND OTHER RECEIVABLES   SECTION 3   NON-FINANCIAL ASSETS The Foundation’s revenue consists mainly of revenues ACCOUNTING POLICY from managed fund distributions. BALANCE SHEET DISCLOSURES At each reporting date, the Foundation reviews the This section focuses on the financial position of the carrying amount of its non-financial assets to determine The Foundation has no material contracts where the Trade and other receivables are initially recognised Foundation, with disclosures including components of whether there is any indication of impairment. If any such period between the transfer of promised goods or at fair value and subsequently measured at assets and liabilities. indication exists, then the asset’s recoverable amount is services to the customer and payment by the customer amortised cost using the effective interest method, estimated. exceeds one year. As a consequence, the Foundation does less any provision for impairment. Trade receivables not adjust any of the transaction prices for the time value 3.1 CASH AND CASH EQUIVALENTS are generally due for settlement within 10 to ACCOUNTING JUDGEMENTS AND ESTIMATES of money. 90 days and the Foundation does not hold any ACCOUNTING POLICY collateral as security. Impairment of Non-Financial Assets ACCOUNTING POLICY Cash and cash equivalents include cash on hand, The Foundation applies the AASB 9 Financial Other non-financial assets are reviewed for Instruments simplified approach to measuring All income is brought to account as it becomes deposits held at call with banks, other short-term impairment whenever events or changes in expected credit losses using a lifetime credit loss due and receivable. Amounts that have not been highly liquid investments with original maturities circumstances indicate that the carrying amount provision for trade receivables and contract assets. received at year end including distributions and of three months or less and are subject to an may not be recoverable. An impairment loss is To measure expected credit losses on a collective interest are recorded in statement of financial insignificant risk of changes in value, and bank recognised for the amount by which the asset’s basis, trade receivables and contract assets are position as receivable. overdrafts. carrying amount exceeds its recoverable amount. grouped on similar credit risk and aging. The Recoverable amount is the higher of an asset’s fair Managed Fund Distributions contract assets have similar risk characteristics to value less costs of disposal and value-in-use. The Distribution revenue is recognised when the 2019 2018 trade receivables for similar types of contracts. value-in use is the present value of the estimated Foundation’s right to receive the payment is $’000 $’000 Expected loss rates are based on the Foundation’s Cash at Bank 11,922 10,170 future cash flows relating to the asset using a established as advised by the Fund Managers. historical credit losses adjusted for current and pre-tax discount rate specific to the asset or cash- 11,922 10,170 Interest forward-looking factors specific to the debtors and generating unit to which the asset belongs. Assets the economic environment. that do not have independent cash flows are Interest revenue is recognised as interest accrues The above figures are reconciled to cash and cash grouped together to form a cash-generating unit. using the effective interest method. This is a equivalents at the end of the financial year as shown in the method of calculating the amortised cost of a statement of cash flows. financial asset and allocating the interest income 2019 2018 2019 2018 over the relevant period using the effective $’000 $’000 $’000 $’000 interest rate, which is the rate that exactly TRADE AND OTHER RECEIVABLES - CURRENT SECTION 2 RECONCILIATION OF PROFIT AFTER TAX Income accrued 1,509 1,493  discounts estimated future cash receipts through TO NET CASH FROM OPERATING ACTIVITIES Settlement due from Australian 4,366 - the expected life of the financial asset to the net REVENUE Profit after income tax expense for year 31,412 4,377 Olympic Committee Inc. carrying amount of the financial asset. Adjustments for Prepayments 68 52 This section focuses on the results and performance of Transfer (to)/from reserves (20,536) 2,944 Other 9 3 the Foundation, with disclosures including segmental Other Revenue (Gains)/loss on realisation of units in (3,036) 205 5,952 1,548 information, components of the operating profit and Other revenue is recognised when it is received or managed funds Change in operating assets and liabilities taxation. when the right to receive payment is established. As at 31 December 2019, the expected loss rate was Trade and other receivables 38 (26) nil resulting in a nil loss provision for trade receivables Trade payables (17) (81) 2.1 and contract assets. The total balance of $5,952,000 is OPERATING SEGMENTS Net cash from operating activities 7,861 7,419 2019 2018 current (less than 30 days outstanding). INFORMATION ABOUT REPORTABLE SEGMENTS $’000 $’000 The Foundation has identified its operating segments REVENUE on the internal reports that are reviewed and used by Managed funds distributions 7,632 7,508 the Board (chief operating decision makers) in assessing Total revenue 7,632 7,508 performance and determining the allocation of resources. The Foundation currently operates one segment, that 2.3 INCOME TAX EXPENSE is to operate within Australia to develop and protect the Under current income tax legislation, the Foundation is Olympic Movement. not liable for income tax provided its taxable income is Unless otherwise stated, all amounts reported to the fully distributed. Board as the chief decision maker with respect to operations, are determined in accordance with AASB 8 Operating Segments. There have been no changes to the basis of segmentation or the measurement basis for the segment profit or loss during the year ended 31 December 2019.

134 135 3.3 INVESTMENTS In accordance with the Foundation’s Audit and Risk The Foundation holds the following financial instruments  SECTION 4  Committee Charter, it is believed that the non-audit as at the reporting date: ACCOUNTING POLICY services provided are in the nature of taxation compliance EQUITY reviews and as such the existing knowledge of the 2019 2018 $’000 $’000 This section focuses on the equity position of the statutory auditor brings insight and synergy to the All investments are initially recognised at cost, FINANCIAL ASSETS Foundation, with disclosures including issued and paid up Foundation without impacting the actual or perceived being the fair value of the consideration given and Cash and cash equivalents 11,922 10,170 capital and reserves. independence of the quality of the auditor’s ongoing including acquisitions charges associated with the Trade and other receivables 5,952 1,548 assurance engagements. investment. Investments 158,223 140,254 4.1 CAPITAL RESERVE 176,097 151,972 After initial recognition, investments are classified  5.3 RELATED PARTY TRANSACTIONS as financial assets at fair value through profit and 2019 2018 The Trustee is a company limited by guarantee. The FINANCIAL LIABILITIES loss and measured as such. Gains or losses are $’000 $’000 Trade and other payables 4,682 1,093 Retained profits at the beginning of 150,879 153,822 Articles of Association of the Trustee prescribe that the recognised in the statement of comprehensive 4,682 1,093 income. the financial year members of the Trustee shall be the voting members of Profit after income tax expense for 31,412 4,377 the Executive of the Committee from time to time. The For investments that are actively traded the year Articles of Association further prescribe that a voting INTEREST RATE RISK in organised financial markets, fair value is Income distribution payable / paid to (10,876) (7,321) member of the Executive of the Committee on being Interest rate risk is the risk that changes in interest the Australian Olympic Committee Inc. determined by reference to valuations advised deemed to be admitted to membership of the Trustee rates will affect the Foundation’s income or the value by fund managers on the statement of financial Accumulated profit at the end 171,415 150,879 of its holding in financial instruments. The Foundation’s of the financial year shall likewise be deemed to be appointed a Director of the position to date. Trustee and that the President of the Committee presided objective is to manage and control market risk exposures as Chair of the Trustee. within acceptable parameters while optimising returns.

SECTION 5 The Foundation The table below sets out the interest rates applicable to 2019 2018  No transactions have taken place during the year between financial instruments that are exposed to interest rate risk: $’000 $’000 OTHER DISCLOSURES the Foundation and the Trustee. INVESTMENTS - CURRENT NON- This section focuses on other disclosures relevant to the INTEREST INTEREST Managed funds at the beginning 140,254 150,069 The Committee BEARING BEARING TOTAL financials of the Foundation including key management of the financial year The Committee is the primary beneficiary of the 2019 2019 2019 personnel and auditor information. Gain/(loss) on investments 15,074 (5,717) Foundation. During the year a number of transactions $’000 $’000 $’000 Acquisition/(disposal) 2,895 (4,098) have occurred between the Foundation and the FINANCIAL ASSETS of investments Cash and cash equivalents 11,922 - 11,922 5.1 KEY MANAGEMENT PERSONNEL Committee. As at balance date, the Foundation owed the Managed funds at the end of the 158,223 140,254  Trade and other receivables - 5,952 5,952 DISCLOSURES Committee a total of $4,633,000 (2018: $1,071,000) financial year Investments - 158,223 158,223 including distribution income of $4,626,000 (2018: The aggregate compensation made key management Total financial assets 11,922 164,175 176,097 personnel of the Foundation is set out below: $1,071,000) to be paid, and the Committee owes the 3.4 TRADE CREDITORS Foundation $4,366,000 (2018: nil).  FINANCIAL LIABILITIES 2019 2018 AND OTHER CREDITORS Trade and other payables - 4,682 4,682 $’000 $’000 5.4 FINANCIAL INSTRUMENTS Total financial liabilities - 4,682 4,682 ACCOUNTING POLICY Consulting fees 165 165  165 165 AND RISK MANAGEMENT Trade and other payables represent the liabilities for NON- FAIR VALUE OF FINANCIAL INSTRUMENTS INTEREST INTEREST goods and services received by the Foundation that The Members of the Board serve on an honorary basis BEARING BEARING TOTAL Due to their short-term nature, the carrying amount of 2018 2018 2018 remain unpaid at the end of the reporting period. apart from the benefit of Directors’ and Officers’ Liability the current trade receivables, current payables and current $’000 $’000 $’000 The balance is recognised as a current liability insurance. Consulting fees were paid to G Wayling for the borrowings is assumed to approximate their fair value. FINANCIAL ASSETS with the amounts normally paid within 30 days of provision of consulting services in his capacity as Executive Loans and borrowings are recognised at their fair value of Cash and cash equivalents 10,170 - 10,170 recognition of the liability. Director of the Foundation. the consideration received, net of transaction costs. Trade and other receivable - 1,548 1,548 Investments - 140,254 140,254 2019 2018 5.2 REMUNERATION OF AUDITORS FINANCIAL RISK MANAGEMENT Total financial assets 10,170 141,802 151,972 $’000 $’000 During the financial year the following fees were paid The Board monitors and manages the financial risk related TRADE AND OTHER PAYABLES - CURRENT or payable for services provided by Ernst & Young, the to the operations of the Foundation. Exposure to a variety FINANCIAL LIABILITIES Amounts owing to the Australian Olympic 4,633 1,071 of financial risks, credit risk and interest rate risk arises in Trade and other payables - 1,093 1,093 Committee Inc. (refer to note 5.3) auditor of the Foundation. the normal course of the Foundation’s business. The risk Total financial liabilities - 1,093 1,093 Other payables 49 22 2019 2018 management policies are designed to minimise potential 4,682 1,093 The Foundation receives interest on its cash deposits $’000 $’000 adverse effect on the Foundation’s financial performance. Audit of the financial statements 25 22 based on daily balances and at balance date was exposed Other services in relation to the Foundation 11 11 to a weighted average variable rate of 0.73% – 2.34% for taxation compliance review (2018: 1.50% – 2.41%). 36 33 There is no interest payable on trade and other payables for the Foundation as at balance date.

136 137 CREDIT RISK 5.5 STATEMENT BY THE BOARD Credit risk represents the risk of financial loss to COMMITMENTS AND the Foundation if a counterparty of the financial CONTINGENT LIABILITIES instrument fails to meet its contractual obligations and The Foundation has entered into an agreement to invest arises principally from the Foundation’s receivables $10m with an Australian unlisted infrastructure fund (‘the from investments. This in turn is influenced by the Fund’). At 31 December 2019, the Fund has not made a As detailed in Note 1.1 to the financial statements, this general purpose reduced disclosure financial report has been characteristics of each fund manager and the Foundation call on the Foundation as they have yet to enter into firm prepared for distribution to the members and the Board. regularly assess the creditworthiness of its fund managers. funding arrangement for any new infrastructure projects that would require the funds to be invested. The Fund The Foundation’s maximum exposure to credit risk at the The financial statements and notes have been prepared in accordance with applicable accounting standards, the usually issues a call on investors with a three-month reporting date was: disclosure requirements of the law and the Trust Deed date 16 February 1996. notice period before the Foundation would be required to In the opinion of the Board of the Trustee, the financial statements as set out on pages 126 to 138 present fairly, in 2019 2018 fund the investment. accordance with applicable accounting standards, the requirements of the law and the Trust Deed: $’000 $’000 The Foundation has provided Westpac Banking FINANCIAL ASSETS (a) the result and cash flows of the Foundation for the year to 31 December 2019; and Cash and cash equivalents 11,922 10,170 Corporation (‘Westpac’) with a Guarantee and Indemnity Trade and other receivables 5,952 1,548 dated 20 September 2001 in respect of all liabilities and (b) give a true and fair view of the financial position as at 31 December 2019 and of the performance for the year Investments 158,223 140,254 obligations of the Committee under a foreign exchange ended on that date of the Foundation. facility. As at balance date, a forward exchange contract for Total financial assets 176,097 151,972 In the opinion of the Board of the Trustee, at the date of this statement, there are reasonable grounds to believe that USD$1,234,000 with a 20 December 2020 delivery was the Foundation will be able to pay its debts as and when they become due and payable. The credit quality is assessed and monitored as follows: in place with the Committee.

INTERNALLY This statement is made in accordance with a resolution of the Board at Sydney, NSW on 20 March 2020. EQUIVALENT RATED - NO The Foundation has provided a Guarantee and Indemnity S&P RATING 1 DEFAULT TOTAL dated 22 November 2019 to Westpac in respect of $’000 $’000 $’000 all liabilities and obligations of the Committee under a FINANCIAL ASSETS $11,000,000 (2018: $6,000,000) Cash Advance Facility, As at 30 June 2019 $1,000,000 Overdraft Facility and $1,000,000 Corporate Cash and cash 11,922 - 11,922 equivalents Card Facility, reducing to $250,000 on 31 October 2020 Trade and other 5,952 - 5,952 (2018: $250,000). These facilities expire 31 May 2021. receivables Investments 158,223 - 158,223 J D COATES AC I CHESTERMAN AM 5.6 Total financial assets 176,097 - 176,097 E VENTS SUBSEQUENT TO THE Chair Director END OF THE FINANCIAL YEAR Australian Olympic Foundation Australian Olympic Foundation As at 30 June 2018 There are no significant matters sufficiently advanced or Cash and cash 10,170 - 10,170 equivalents at a level of certainty that would require disclosure, that Trade and other 1,548 - 1,548 have arisen since the end of the financial year, which receivables significantly affect the operations of the Foundation, the Investments 140,254 - 140,254 results of those operations or the state of affairs of the Total financial assets 151,972 - 151,972 Foundation in future financial years.

MANAGED FUNDS PRICE RISK The Foundation’s exposure to managed funds price risk relates primarily to the Foundation’s investment portfolio. The risk is managed by the Foundation’s Investment Advisory Committee and investment consultant Mercer Investment Consulting who provide advice on the appropriate mix of investments. The members of the Foundation’s Investment Advisory Committee are shown in the Members of the Board of Trustees Report. The Foundation’s maximum exposure to managed funds price risk at the reporting date was:

2019 2018 $’000 $’000 FINANCIAL ASSETS Investments 158,223 140,254 Total financial assets 158,223 140,254

138 139 INDEPENDENT AUDITOR’S REPORT

ErnstErnst & Young & Young Services Services Pty Limited Pty Limited Tel: +61 2Tel: 9248 +61 5555 2 9248 5555 Ernst & Young Services Pty Limited Tel: +61 2 9248 5555 200 200George George Street Street Fax: +61 Fax:2 9248 +61 5959 2 9248 5959 200 George Street Fax: +61 2 9248 5959 SydneySydney NSW NSW 2000 2000 Australia Australia ey.com/auey.com/au Sydney NSW 2000 Australia ey.com/au GPOGPO Box 2646Box 2646Sydney Sydney NSW NSW2001 2001 GPO Box 2646 Sydney NSW 2001

Auditor's Responsibilities for the Audit of the Financial Report

ur obectives are to obtain reasonable assurance about whether the financial reort as a whole is free Independent Auditor's Auditor's R eportReport to tothe the Members Members of Australian of Australian Olympic Olympic Independent Auditor's Report to the Members of Australian Olympic Foundation fromFoundation material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes Foundation our oinion easonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with the Australian Auditing Standards will always detect a material Opinion misstatementOpinion when it eists isstatements can arise from fraud or error and are considered material if Opinion individually or in the aggregate they could reasonably be eected to influence the economic decisions of e have audited the financial reort of Australian lymic oundation the oundation which comrises userse have taen audited on thethe basisfinancial of thisreort financial of Australian reort lymic oundation the oundation which comrises thee statementhave audited of financial the financial osition report as at of1 Australianecember 01lympic the oundation statement of the comrehensive oundation income, which comprises the statement of financial osition as at 1 ecember 01 the statement of comrehensive income statementthe statement of changes of financial in equity position and statement as at of ecember cash flows for the, the year statement then ended of notescomprehensive to the income, statement of changes in equity and statement of cash flows for the year then ended notes to the As art of an audit in accordance with the Australian Auditing Standards we eercise rofessional financialstatement statements of changes including in euity a summary and statement of significant of cash accounting flows for olicies the year and then the ended,chairman’s notes review to the financial statements including a summary of significant accounting olicies and the chairman’s review udgment and maintain rofessional sceticism throughout the audit e also financial statements, including a summary of significant accounting policies, and the chairman’s review. n our oinion the accomanying financial reort resents fairly in all material resects the financial n our oinion the accomanying financial reort resents fairly in all material resects the financial osition of the oundation as at 1 ecember 01 and its financial erformance and its cash flows for •osition of the oundation as at 1 ecember 01 and its financial erformance and its cash flows for n our opinion the accompanying financial report presents fairly, in all material respects, the financial dentify and assess the riss of material misstatement of the financial reort whether due to fraud the year then ended in accordance with Australian Accounting Standards – educed isclosure the yearor then error ended design in accordance and erform with audit Australian rocedures Accounting resonsive Standards to those – educed riss isclosure and obtain audit evidence equirementsposition of the and oundation financial reorting as at requirements ecember , of the andrust its eed financial performance and its cash flows for equirements and financial reorting requirements of the rust eed the year then ended in accordance with Australian Accounting tandards – educed isclosure that is sufficient and aroriate to rovide a basis for our oinion he ris of not detecting a euirements and financial reporting reuirements of the rust eed. material misstatement resulting from fraud is higher than for one resulting from error as fraud may involve collusion forgery intentional omissions misreresentations or the override of Basis for Opinion Basis internalfor Opinion control

Basise conducted for Opinion our audit in accordance with Australian Auditing Standards ur resonsibilities under e conducted our audit in accordance with Australian Auditing Standards ur resonsibilities under those standards are further described in the Auditor’s Responsibilities for the Audit of the Financial •those standardsbtain an are understanding further described of internal in the Auditor’s control Responsibilitiesrelevant to the for audit the inAudit order of theto design Financial audit rocedures that are aroriate in the circumstances but not for the urose of eressing an Reporte conducted section of our our audit reort in accordancee are indeendent with Australian of the oundation Auditing in tandards. accordance ur with responsibilities the ethical under Report section of our reort e are indeendent of the oundation in accordance with the ethical oinion on the effectiveness of the oundation’s internal control. requirementsthose standards of the are Accounting further described Professional in the and Auditor’s Ethical Standards Responsibilities Board’s APESfor the 110 Audit ode of of the thics Financial for requirements of the Accounting Professional and Ethical Standards Board’s APES 110 ode of thics for rofessional Accountants the ode that are relevant to our audit of the financial reort in Australia e rofessional Accountants the ode that are relevant to our audit of the financial reort in Australia e Report section of our report. e are independent of the oundation in accordance with the ethical have also fulfilled our other ethical resonsibilities in accordance with the ode •h ave alsoEvaluate fulfilled the our aroriateness other ethical resonsibilities of accounting in accordance olicies used with and the theode reasonableness of accounting requirements of the Accounting Professional and Ethical Standards Board’s APES 110 ode of thics for estimates and related disclosures made by the trustees rofessional Accountants the ode that are relevant to our audit of the financial report in Australia. e e believe that the audit evidence we have obtained is sufficient and aroriate to rovide a basis for e believe that the audit evidence we have obtained is sufficient and aroriate to rovide a basis for have also fulfilled our other ethical responsibilities in accordance with the ode. our oinion •our oiniononclude on the aroriateness of the trustees use of the going concern basis of accounting and based on the audit evidence obtained whether a material uncertainty eists related to events or e believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for conditions that may cast significant doubt on the oundation’s ability to continue as a going our opinion. Responsibilities of the Trustees for the Financial Report Responsibilitiesconcern f we of concludethe Truste thate sa formaterial the Financial uncertainty Rep eistsort we are required to draw attention in our auditor’s report to the related disclosures in the financial report or, if such disclosures are he trustees of the oundation are resonsible for the rearation and fair resentation of the financial he trustees of the oundation are resonsible for the rearation and fair resentation of the financial inadequate to modify our oinion ur conclusions are based on the audit evidence obtained u to reortResponsibilities in accordance withof the Australian Truste Accountinges for the Standards Financial – educed Rep isclosureort equirements and reort in accordance with Australian Accounting Standards – educed isclosure equirements and financial reorting requirements of the rust eed and for such internal control as the trustees financialthe reorting date of requirementsour auditor’s of report. the rust owever eed and future for such events internal or conditions control as themay trustees cause the oundation to cease to continue as a going concern determinehe trusteess is necessaryof the oundation to enable arethe rearationresponsible and for fairthe resentationpreparation ofand the fair financial presentation reort that of theis free financial determines is necessary to enable the rearation and fair resentation of the financial reort that is free from material misstatement whether due to fraud or error from material misstatement whether due to fraud or error report in accordance with Australian Accounting tandards – educed isclosure euirements and • Evaluate the overall resentation structure and content of the financial reort including the nfinancial rearing reporting the financial reuirements reort the of tr theustees rust are eedresonsible and for for such assessing internal the control oundation as the’s ability trustees to n rearingdisclosures the financial and whether reort the the tr financialustees are reort resonsible reresen for assessingts the underlying the oundation transactions’s ability and to events in a continuedetermine ass a is going necessary concern to disclosingenable the as preparation alicable matters and fair relating presentation to going of concern the financial and using report the that is free continuemanner as a going that concern achieves disclosing fair resentation as alicable matters relating to going concern and using the goingfrom materialconcern basis misstatement, of accounting whether unless duethe trusteesto fraud either or error. intend to liquidate the oundation or to going concern basis of accounting unless the trustees either intend to liquidate the oundation or to cease oerations or have no realistic alternative but to do so cease oerations or have no realistic alternative but to do so n preparing the financial report, the trustees are responsible for assessing the oundation’s ability to continue as a going concern, disclosing, as applicable, matters relating to going concern and using the going concern basis of accounting unless the trustees either intend to liuidate the oundation or to cease operations, or have no realistic alternative but to do so. Ernst oung Sydney 0 arch 00

A member firm of Ernst & Young Global Limited A member firm of Ernst & Young Global Limited Liability limited by a scheme approved under Professional Standards Legislation Liability limited by a scheme approved under Professional Standards Legislation ACN 004 860 860 ACN 004 860 860 A member firm of Ernst & Young Global Limited Liability limited by a scheme approved under Professional Standards Legislation 140 ACN 004 860 860 141

A member firm of Ernst & Young Global Limited Liability limited by a scheme approved under Professional Standards Legislation ACN 004 860 860 142 AUSTRALIAN OLYMPIC COMMITTEE INCORPORATED Level 4, Museum of Contemporary Art 140 George Street, Sydney, NSW 2000 P: +61 2 9247 2000 olympics.com.au