The State Sports Centre Trust
Annual Report 2008-2009 State Sports Centre Trust Annual Report for the year ended 30 June, 2009. Submitted to the Minister for Planning, and Minister for Redfern Waterloo in accordance with the Annual Reports (Statutory Bodies) Act, 1984.
Location: Olympic Boulevard SYDNEY OLYMPIC PARK 2127
Postal Address: PO Box 135 SYDNEY MARKETS 2129
Office Hours: 9.00 am - 5.00 pm Monday - Friday
Operating Hours: 7.30 am - 11.30 pm Seven Days (subject to bookings)
Telephone: (02) 9763 0111
Facsimile: (02) 9764 3745
Email: [email protected]
Web Page: www.sports-centre.com.au
Bank: Westpac Banking Corporation
Insurers: Treasury Managed Fund
Venues Under Management: Contents
Letter to the Minister 2 Chairman’s Report 3 Director’s Report 4 The Trust 5
Charter 6 Organisation Chart 7 Key Achievements 2008-09 8 Facilities, Services and Programs 10 Events Activity 12 Events Summary 13
Events Highlights 14 Training and Participation Activity 16 General Operations 18 Human Resources 19 Corporate Management 20 Finance Report 21 Appendices 57 Index 59 Partners & Supporters 60
The State Sports Centre Trust Annual Report 2008-2009 1 Letter to the Minister
31 October 2009
The Hon. David Borger MP Minister for Housing, Minister for Western Sydney, Minister Assisting the Minister for Transport Level 37, Governor Macquarie Tower 1 Farrer Place Sydney NSW 2000
Dear Minister
I am pleased to submit to you the 25th annual report for the State Sports Centre Trust for presentation to Parliament.
This report covers the twelve months to 30 June 2009 and has been prepared in accordance with the Annual Report (Statutory Bodies) Act 1984.
Our annual report provides an overview of the Trust’s achievements and activities for the year.
Yours sincerely
Peter Ross Director
Managed and operated by the State Sports Centre Trust
Olympic Boulevard Sydney Olympic Park PO Box 135 Sydney Markets NSW 2129
T 02 9763 0111 F 02 9764 3745 E [email protected] www.sports-centre.com.au
ABN 69 548 646 296
2 The State Sports Centre Trust Annual Report 2008-2009 Chairman’s Report
2008-09 was another successful year In another year of governance changes, the Trust was transferred for the venues operated by the State late in the year from the Planning portfolio to the Minister for Sports Centre Trust. Western Sydney, the Hon David Borger. At about the same time we were advised that the previous Trust would not be re- Despite disappointing performances by appointed, pending the transfer of responsibility for the both of the National League teams operation of the venues to the Sydney Olympic Park Authority. based at the Sports Centre, each of the The end of the financial year saw some unfortunate confusion venues enjoyed a full schedule of regarding the governance of the organisation, with the Trust staff events and participation activities. doing their best to operate the venues despite all Board Sporting highlights included the positions being vacant. I am grateful for the efforts of our director Australian Universities East Coast Peter Ross, his management team and the staff in maintaining Challenge in July and the very successful Australian Youth a busy event program and continuing with the program of Olympic Festival in January which attracted some 5000 people improvements during a very difficult period. to the venues. Once again there were an array of varied dance events throughout the year and martial arts were also popular As we prepare to celebrate 25 years of professional venue with a very successful Taekwondo National Titles and Karate management by the State Sports Centre Trust in November World Cup event. 2009 it appears this will be my last report as Chairman. I would like to pay tribute to my fellow Trust members, who have given The Trust sponsored the Sydney Olympic Park Netball Cup in their time unselfishly over the years to ensure the venues made March which was attended by nearly 2000 people. The NSW a valuable contribution to the development of a wide variety of Swifts took home the trophy and the $10,000, winning the sports. Their guidance has helped the organisation to provide series on a countback after drawing with arch rivals the affordable facilities for the staging of thousands of events and Waikato/Bay of Plenty Magic in the penultimate game. activities with minimal burden on the public purse. I encourage Picking up the pieces after the demise of the West Sydney the Board of the Sydney Olympic Park Authority to preserve and Razorbacks and the Sydney Kings, the newly formed Sydney enhance the role of the venues as they take on this Spirit had a short and tumultuous life in the NBL. While falling responsibility. short of making the playoffs, the young team kept their hopes alive until the very end, showing some real spirit to down the competition leaders and ultimate premiers South Melbourne the week the franchise was placed in administration. While there will be no Sydney team in the NBL in 2009-10 the Sydney Olympic Park Sports Centre is the logical home venue for a new Sydney team expected to commence in 2010-11. The surplus of $350k before depreciation was a pleasing result Alan Whelpton AO achieved despite the economic downturn. While each of the Chairman venues recorded a surplus, a decline in the performance of the Sports Centre was masked by strong results posted by the Sports Halls and the Hockey Centre. The need for a significant upgrade of the Sports Centre remains a strategic priority if that venue is not to become a drain on the government’s resources in the future. The venues again benefitted from some major projects funded by the Sydney Olympic Park Authority, including the relocation and upgrade of the outdoor broadcast facilities, various fire safety improvements and the replacement of the two synthetic hockey pitches. With the Women’s Champions Trophy scheduled to commence very early in the new financial year the Hockey Centre was restored to top condition ready for the tournament.
The State Sports Centre Trust Annual Report 2008-2009 3 Director’s Report
During the 2008-09 financial year the The year was not without its challenges. At one stage the threat venues operated by the State Sports of swine flu looked as if it could force the closure of the venue Centre Trust hosted 102 major events with management scrambling to prevent a breakout amongst over a total of 193 days. the staff. As the threat eased the hastily prepared swine flu contingency plan became the basis of the organisation’s first Events in most categories were well Business Continuity Plan. A more serious threat was posed by attended, with the exception of the government’s decision not to appoint any new Trust basketball which continued its recent members when the previous members’ terms expired in early decline. Dance was once again the March. The lack of a local governance body led to the dominant event category, making up postponement of some urgent strategic initiatives, including any 20 of a total of 54 sports events and further action in regard to the proposed redevelopment of the attracting nearly 40,000 people during the year. The next Sports Centre site. It is disappointing that only two years after the category was gymnastics with 7 major events at regional, state Trust secured a long term lease over the venues and adopted a and national level. strategic plan to guarantee the organisation’s long term viability, With neither of our home teams making the finals there were it appears that the Trust itself will be dissolved. more dates available for community and commercial events. I would like to express my sincere appreciation to my Exhibitions were popular, with 7 events occupying a total of 18 management team and the staff who have worked tirelessly days. Our stable of schools holding their speech nights in over the past twelve months in sometimes difficult December increased and record numbers attended the heats of circumstances to ensure the success of all of our events and the Rock Eisteddfod and three sell-out concerts featuring the activities. I would particularly like to acknowledge previous Trust sensational Yo Gabba Gabba. Chairman Alan Whelpton and the previous members of the Trust The popularity of the Sports Halls grew by a further 14%, who continued to meet in an advisory capacity even after their boosted by the launch of a hugely successful on-line court hire terms had expired. Their support and guidance has been program. The Hockey Centre enjoyed similar attendances to the instrumental in ensuring that the venues are held in high regard previous year, despite the absence of any major events. At just by the sporting community of NSW. under 472,000, overall attendances at Trust venues were consistent with the previous year. The number of people using Trust venues for participation activities now exceeds the number of spectators at events. A number of the initiatives listed in the Trust’s strategic plan were implemented during the year. The investment in additional marketing and programming resources began to pay off with increased event enquiries and more use being made of the Peter Ross venues at off-peak times. The Trust secured three new preferred Director suppliers, a new exclusive wine provider and a new ticketing agency. All of these initiatives are generating new revenues for the Trust, helping to keep hiring costs to a minimum.
4 The State Sports Centre Trust Annual Report 2008-2009 Members of the Trust
Members of the State Sports Centre Trust were appointed in March 2005 by the Governor of New South Wales on the recommendation of the Minister for Sport and Recreation. Trust meetings and meetings of the Finance Committee are held on a bi-monthly basis unless otherwise determined by the Trust, with ad hoc committees meeting as required. The terms of all Trust members expired on 7 March, 2009 and as of 22 October, 2009 there had been no new appointments announced.
Alan B Whelpton AO Helen M Brownlee OAM Liz Ellis Craig Gallagher BA, Dip Lorraine Landon Chairperson President, NSW Olympic Board Member, Law Director, Western Sydney Chairman, Western Council New South Wales Institute Partner, Mills Cameron Academy of Sport Sydney Academy of Sport. President, Commonwealth of Sport Gallagher (Lawyers) General Manager, National Past President & Life Canoe Association Board Member, Sydney Chairman, Parramatta Teams & Competitions, Governor Surf Life Saving President, Oceania Canoe Olympic Park Authority Stadium Trust Basketball Australia Australia Association Member, Australian Sports Chair, FIBA Women’s Past President & Life Executive Board Member, Commission Commission Governor International Life Australian Olympic Former Captain, Australian Life Member, Basketball Saving Federation Committee Open Netball Team Australia, Basketball NSW, Australia Day Ambassador Executive Board Member, Former Captain, Sydney Women’s National Life Member Surf Life International Canoe Swifts Netball Team Basketball League Saving NSW and Australia Federation Life Member World Life Member, IOC Commission Saving and International for Culture and Olympic Life Saving Education Deputy Chair, Penrith Whitewater Board Life Member, NSW and Australian Canoeing Life Member, NSW Olympic Council
Ian D Stephenson BA, Daryl Clout Nick Hubble B.Comm, Wayne Prior Former Member, FCA, FTIA General Manager, NSW CPA Honorary Advisor Semaphore Squash Club (SA) Fellow of the Institute of Sport and Recreation General Manager, Senior Consultant, Chartered Accountants Executive Member, Commercial and Deloitte Touche Tohmatsu Former Member, Woodville Tennis Club (SA) Fellow of the Taxation Department of the Arts, Corporate, Sydney Former Director, Commercial Institute of Australia Sport and Recreation Olympic Park Authority Services Branch, Sydney Former Member, Registered Tax Agent Member, Sport and Venues Olympic Park Authority South Australian Amateur Wrestling Association Former Member, Audit & Sub-Committee, 2009 Former Member, Port Finance Committee World Masters Games Moresby Squash Racquet Swimming NSW Ltd Board Member and former Association (PNG) Former Finance Director, President, Softball Australia Swimming NSW Ltd Executive Staff Peter Ross Ass. Dip. Rec., Allan Pollock Adv. Mgmt. Ched Dursun M. Mgmt. Cert. Events Manager Director Facilities Manager Ben Jessimer Adv. Dip. John Elliott CPA, ACIS, JP Dora Rosa Dip. Teach., Events Mgmt. Corporate Services Cert. Rec. Mgmt. Events Manager Manager Operations Manager
Executive Staff Left to right: John Elliott, Peter Ross, Dora Rosa, Allan Pollock, Ched Dursun, Ben Jessimer.
The State Sports Centre Trust Annual Report 2008-2009 5 Charter
The State Sports Centre Trust is constituted under the State Sports Centre Trust Act, 1984. The core business of the Trust as defined by the Act is the establishment and maintenance of a sport and recreation complex formerly known as the State Sports Centre, comprising: i. facilities for holding competitive sporting events, including competitive sporting events of international, national and state standards; ii. a training centre for training sportspersons who are seeking to improve their sporting standards, performances and skills; iii. a sports education centre for the purpose of developing the respective skills or potential skills of sports administrators, coaches and sportspersons and to provide tuition and instruction for that purpose; and iv. such other ancillary facilities as may be required for the effective operation of the facilities and structures referred to above.
Sydney Olympic Park Hockey Centre
6 The State Sports Centre Trust Annual Report 2008-2009 Organisation Chart
Minister
State Sports Centre Trust
Director
Executive Assistant/Marketing Museum Curator Officer
Trainee Administration Assistant
Program Client Development Relationship Officer Manager
Corporate Facilities Events Operations Services Manager Manager Manager Manager
Casual Program Assistant Maintenance Events Coordinator Bookings Facilities Accountant Clerk Coordinator Administrative Coordinator Manager Assistant
Events Maintenance Casual Event Gymnastics Administration Maintenance Receptionist Officer Staff Coordinator Clerk Officer
Events Venues Casual Technical Coordinators Gymnastics Clerk Officer (3) Coaches
Centre Casual Sports Hall Supervisors Receptionists Coordinator (3)
Casual Supervisors
The State Sports Centre Trust Annual Report 2008-2009 7 Key Achievements 2008-2009
Marketing Preferred and exclusive suppliers Having finalised its 2008-2012 Strategic Plan the previous year, Having experimented with the preferred supplier concept for some the Trust got on with implementing the plan’s priority initiatives. time, the Trust approved formal relationships with two AV The newly created part-time role of Marketing Officer was filled production companies in 2009, ensuring a consistent high and joined the new Marketing Team comprising the Director and standard of service to event clients while minimising operating costs the Client Relationship Manager to prepare a new marketing plan. and delivering the Trust a modest new revenue stream. The A new website built around a Content Management System was relationship with the Trust’s preferred accommodation provider launched, allowing the Marketing Officer to update the site daily Accor was also renewed. We will be seeking a preferred supplier with details of coming events and programs. The site was also of hire equipment in 2009-10. improved through the addition of a client feedback mechanism Tenders were conducted for the exclusive supply of wine, beer and and a photo gallery. spirits. Cassegrain Wines was appointed as the Trust’s new wine Partnering with one of our preferred AV suppliers, the team supplier in 2008 and made an immediate impact, taking full implemented promotional campaigns aiming to generate advantage of all available signage opportunities to announce the enquiries for targeted events. An innovative promotion using a partnership. The company is enthusiastic about Sydney Olympic web-stream of footage from previous events helped to secure a Park being a platform for continued growth in NSW. If the quality new school speech night for 2009 while another campaign of the wine is any guide, it should be a very successful relationship. aimed to establish the Hall of Legends as a venue for larger high A disappointing response to the other tenders led us to a decision school formals. The Marketing Team also undertook a review of not to appoint an exclusive provider in the beer or spirits category. the Sports Centre’s branding as part of an overhaul of the suite Instead the Trust negotiated some favourable arrangements with of marketing collateral. wholesalers who promised to match best available retail pricing on any brand on an as-required basis. The change actually benefits the Trust financially while allowing event hirers to seek direct Programs sponsorship from breweries and spirits suppliers. The Trust’s first Program Development Officer was engaged in 2008 and set about designing new programs to make use of quiet times in all the venues. By year’s end a total of six new programs had been established, with plans in place for nine more programs to commence in the 2009-10 year. The most significant new venture will be the opening of a martial arts school at the Sports Halls. A business model that shares the risk and the rewards with private program providers is promising to deliver significant returns to the Trust in 2009-10 while helping to enliven the precinct for local residents and workers.
Bjelke-Peterson School of Physical Culture
8 The State Sports Centre Trust Annual Report 2008-2009 Ticketing Facility Improvements After more than twenty years with Ticketek and its predecessors, The Sydney Olympic Park Authority funded a number of fire safety the Trust wrapped up a lengthy tender process when it invited the improvements during the year to comply with the conditional Place innovative New Zealand based company TicketDirect to be its new of Public Entertainment authorisation issued in April 2008. The ticketing provider. The collaboration with TicketDirect will give events Authority also provided funding towards the relocation and at the Sports Centre access to lower cost ticketing delivered through updating of the Outdoor Broadcast infrastructure that will ensure all channels, increasing the total number of tickets sold and the Sports Centre remains a popular venue for televised events. delivering a substantial increase in ticketing revenue to the Trust. Most notably, Sydney Olympic Park replaced both of the synthetic The company commenced in July 2009 on a month to month hockey pitches prior to Christmas 2008, allowing the Australian basis pending ministerial approval of a proposed five year contract. Youth Olympic Festival to be conducted on brand new green and gold pitches. The Trust used its own surplus to fund a number of building On-line Bookings improvements, including recarpeting level two of the Sports Centre After nearly a year in development a new web-based bookings and painting areas of the Sports Centre in the new colour scheme page was launched for hirers of badminton courts at the Sports adopted the previous year. Timber floors in the Sports Centre’s Centre. The program is an extension of the central bookings main arena and the Sports Halls were deep-sanded and refinished, database that covers all Trust venues, avoiding the risk of double with work on the Hall of Legends scheduled for Christmas 2009. bookings while ensuring that the information is available in real A previously under-utilised room on the ground floor of the Sports time throughout the organisation. The response from hirers was Centre was converted to a courtside function space and bi-fold overwhelming, with ninety on-line bookings made on the first doors will be installed in October 2009 to complete the project. weekend. By June the program was capturing in excess of a Meanwhile work commenced on the long-awaited upgrade of the thousand court bookings a month. level two cafe, a project jointly funded by contract caterers, the Gema Group. The Hockey Centre also benefitted from a complete makeover towards the end of the financial year in readiness for the Champions Trophy in July.
Cheap.com.au Charity Fight Night
The State Sports Centre Trust Annual Report 2008-2009 9 Facilities, Services and Programs
The venues managed by the Trust are available for hire by Gymnastics sporting, community and corporate groups for the staging of events and the conduct of participation activities. In Centre addition, the Trust offers individuals and school groups the Located also within the Sports chance to participate in various training and social Centre, the Gymnastics Centre competition activities. is the state’s premier artistic gymnastics training venue, and is utilised by Gymnastics NSW for the training of their elite male athletes. The Centre operates its own successful gymnastic club, running competitive and recreational classes and school programs under the guidance of head coach Anne Scott. The Centre is in use all year round and operates as a warm-up hall for Australian Youth major gymnastics tournaments Olympic Festival staged in the Main Arena. William Clarke College Speech Night Sydney Olympic Park Sports Centre Weight Room The Sydney Olympic Park Sports Centre contains two main event The 300 square metre Weight Room within the Sports Centre is spaces, the Main Arena and the Hall of Legends, both of which are home to NSW Weightlifting’s high performance program. Fitted fitted with clear timber floors and flexible draping used to change with a range of lifting platforms and general strength and the dimensions of the space to meet different event requirements. conditioning equipment catering for all levels, the room is used on The 2166 square metre Main Arena has fixed and retractable tiered weekends and after hours for weightlifting training and occasional seating for up to 5000 people, with the ability to scale down to as club competitions. During weekdays the room is managed by the few as 500 for smaller events. The atmosphere is intimate with Trust and used by others including the Australian College of Physical the furthest seat being only 24 metres from the floor. While it was Education, Tennis NSW and local high schools. designed to meet the needs of up to thirty different indoor sports, the venue is also ideally suited for concerts, conferences, exhibitions, dinners and cocktail parties. Relaunched in July 2007 as a multi-purpose function space, the Hall of Legends was originally intended as a warm up space for major events and boasts a floor area of nearly 1200 square metres. With its double height ceiling, this impressive room pays homage to the state’s most outstanding athletes, whose images adorn the walls within the room. The Hall of Legends is versatile enough to stage concerts or conventions, sales or seminars, exhibitions or events, parties or product launches, dinners, dances, weddings and wakes. With a natural timber floor and the neutral elegance of floor to ceiling draping the venue is readily themed to meet all requirements.
Australian Youth Olympic Festival
Sydney Olympic Park Hockey Centre The Hockey Centre is a world-class facility designed for the 2000 Olympics and hosts major international tournaments such as the 2003 and 2009 Women’s Champions Trophy. The main grandstand has covered seating for 1,500 under a unique 'floating' roof. The two new pitches installed in November 2008 are always in demand for competition and training sessions throughout the year as well as hosting occasional international hockey events.
Hall of Legends
10 The State Sports Centre Trust Annual Report 2008-2009 Other Programs During the school holidays clinics are held in the sports of gymnastics, trampoline, table tennis, floorball, handball, basketball and futsal (indoor soccer). These clinics are a key component of the Sydney Olympic Park Authority’s Kids in the Park program. A number of local schools also use the Trust’s venues for their regular school sport. The Trust has begun partnering with a number of private program providers to offer a range of quality programs in diverse activities such as dance, self defence, badminton, table tennis, football, hockey, etc. These programs are advertised on the Trust’s website.
Sydney Olympic Park Sports Halls The Sports Halls venue consists of two multi-purpose indoor halls totalling 5500 square metres and a separate martial arts studio of around 600 square metres. The West Hall, with a synthetic floor is primarily used for badminton, table tennis and volleyball. The East Hall is fitted with a sprung timber floor and caters mainly for volleyball, handball, netball and indoor soccer. The variety of spaces and flooring options permits both halls to accommodate a wide range of indoor sports. The Sports Halls are primarily for training and participation activities and occasionally also host national or international events where playing space is the key requirement. Badminton is the most Hall of Champions popular sport played at the venue and with up to nineteen full international sized courts available at one time the Sports Halls are NSW Hall of Champions the premier badminton venue in NSW. The Sydney Olympic Park Sports Centre is home to the NSW Hall of Champions, a sport museum and hall of fame which honours the sporting champions of New South Wales. There are currently 332 sportsmen and women on the roll of honour, representing 47 different sports. The employment of a part-time curator ensures that the collection of sporting memorabilia is managed on a professional basis. A highlight of the Trust’s calendar is the annual induction of honourees into the Hall of Champions.
School Sports Program Table Tennis Event Services Trust staff provide a range of support services to emerging and School Sports Program established sporting and community organisations staging events in its venues, including assistance with marketing, promotions, The School Sports Program offers Sydney primary and high school event production and event management. It is a key objective of students the opportunity to participate in sports they would not the Trust to enhance the events staged in its venues with a view normally play, in world class facilities under the supervision of to increasing attendances over time. qualified coaches. Schools choose to participate in either two or three different sports selected from basketball, gymnastics, hockey, futsal (indoor soccer), netball, table tennis, volleyball, badminton, floorball, handball and judo.
The State Sports Centre Trust Annual Report 2008-2009 11 Events Activity
The Sydney Olympic Park Sports Centre is primarily a major event high level spectator-sporting events such as the ANZ Championships venue, with training and participation activities being Netball League. Bookings for community events are also accepted accommodated where practicable between events. In contrast, whenever possible, while appropriate commercial events are actively while it was designed for staging high level tournaments, the lack sought to generate revenue for the Centre. Revenue from of major hockey tournaments in Sydney means that the Hockey commercial events allows the Trust to minimise hiring costs for Centre is used primarily for participation activity. The Sports Halls sporting events. In 2008-09 the Trust generated 64% of its event lack the infrastructure for staging major events and in the absence income from commercial and community events. These events of significant overlay are suitable only for participation activity, albeit used a total of 56% of event days. on a grand scale. During the year 102 major events were hosted in Trust venues The Trust’s main focus for the Sports Centre is on the staging of over a total of 193 days. international, national and state level championships and regular
Event Days State 14% Sport Regional 6% Commercial 42%
National 17%
International 7% Community 14%
State Event Income 10% Regional Sport 4%
National 14% Commercial 51%
International 8%
Community 13%
12 The State Sports Centre Trust Annual Report 2008-2009 Events Summary
International Sporting Events Macarthur Anglican School Speech Night Australian Youth Olympics Penrith Anglican College Speech Night Sydney Latino Dance Festival Pierre de Coubertin Awards World Cup Karate Tournament Rock Eisteddfod Challenge Schoolgirls’ Breakfast With The Stars National Sporting Events St Patrick’s College Speech Night ANZ Netball Championships Sydney Symphony Orchestra Education Program Australian Gymnastics Spectacular William Clarke College Speech Night Australian Taekwondo Competition Australian Weightlifting Titles Commercial Events Junior School Heads Association of Australia Gymnastics Australian Liquor Merchants Trade Day Competition Australian Stationery Association Trade Exhibition National Basketball League Games Australian College of Physical Education Graduation Ceremony National Marching Championships Australian Dance Festival State Sporting Events Australian Scrapbooking Industry Fair Baptist Union Convention Associated Heads of Independent Girls Schools Gymnastics Competition Bledisloe Cup Dinner Australian Dancing Society Dance Competition Buddhist Conference of Australia Bjelke Peterson School of Physical Culture Championships Carnival Learning Book Sale Cheerleading Aerobics Competition Crank Under 18s Dance Festival Goalball Gala Day Football Federation Australia Coaches Conference Kempo Ryu Karate Competition Fletcher Insulation Product Launch NSW Gymnastics Competitions Global Dance Convention NSW Taekwondo Tournaments Groove Dance Expo NSW Weightlifting Competitions Harbhajan Mann Concert Target Bowls Launch Impact Leadership Conference Gurdas Maan Concert Regional Sports Events Loreto Normanhurst Music Festival Australian University Games Magic Mania Dance Fever Interschools Challenge National Wedding Exhibition Department of Education and Training Dancesports Challenge NSW Schools Canteen Expo Federal Association of Teachers of Dancing Dancesport Festival Peggy Zina Concert HoopDreamz Basketball Competition Revlon Super Sale Community Events Scholastic Book Sale Cheap.com.au Charity Fight Night Sydney Doll’s House and Miniatures Fair Christian Brothers Lewisham Speech Night Transmission Dance Parties Georges River College Graduation Wonder White School Day Heart ‘n’ Sole Line Dancing Ball World Supremacy Battle Grounds R & B Dance Competition Junior Rock Eisteddfod World Youth Day Kids Express Charity Dance Competition Yiannis Ploutarhos Concert Korean Church Sports Day Yo Gabba Gabba Concerts
The State Sports Centre Trust Annual Report 2008-2009 13 Events Highlights
Sydney Spirit v Melbourne Tigers
Australian Buddhist Conference
Cheap.com.au Charity Fight Night
National Wedding Exhibition NSW Junior Gymnastics Championships
Transmission Dance Party
14 The State Sports Centre Trust Annual Report 2008-2009 Australian Youth Olympic Festival
Australian Taekwondo Sydney Symphony Orchestra Education Program Competition
Yo Gabba Gabba Concert
Australian Vanessa Ware, Youth Olympic NSW Swifts v Adelaide Thunderbirds. Festival SMP Images
The State Sports Centre Trust Annual Report 2008-2009 15 Training & Participation Activity
It can be difficult to program regular participation activities in a of Sydneysiders. A slight fall in usage of the Gymnastics Centre venue such as the Sports Centre that is primarily designed and after last year’s record high and a slight decline in the use of structured to stage major events. Despite this challenge, the function rooms also contributed to the decline. Trust encourages the use of the facility for participation activities The Hockey Centre recorded a similar number of visits as the on ‘non-event’ days. Outside of the main arena, a wide range of previous year, again reflecting a lack of major events. sports utilise Trust facilities for training and competition. The Hall Programming initiatives targeting the Hockey Centre should help of Legends is more heavily utilised for training and routine to grow these attendances in future years, even when there are competition than for events. The Hockey Centre is designed as few major events a tournament venue but during 2008-09 catered only for participation activities. The Sports Halls and the Gymnastics The attendances at the Sports Halls grew to a new high of Centre are dedicated training venues. 140,000, a 14% increase on the previous year. This increase was based on continuing strong demand for casual badminton The numbers of people using the Sports Centre in 2008-09 courts and the implementation of an online court booking was down by nearly 6%. This was mostly due to a decline in system. attendances at major events, most notably the continuing decline in public and corporate spectators at NBL games as the Overall attendances in Trust venues increased marginally on the Sydney Spirit basketball franchise failed to capture the attention previous year to just under 472,000.
Facility Usage No. of No. of No. of No. of No. of No. of No. of No. of Persons Bookings Persons Bookings Persons Bookings Persons Bookings 2005-06 2005-06 2006-07 2006-07 2007-08 2007-08 2008-09 2008-09
Arena 206,570 567 188,632 777 186,765 866 171,736 1,054 Hall of Legends 40,321 490 42,197 699 29,365 644 35,317 664 Gymnastics Centre 29,580 1,797 36,430 1,715 40,149 1,587 38,769 1,943 Function Rooms 16,298 532 21,060 489 8,740 424 5,026 401 Weight Training Room 7,621 4,918 6,603 6,175 Tours & Hall Of Champions 5,321 5,455 5,554 5,100 Total Sports Centre 305,711 3,386 298,692 3,680 277,176 3,521 262,123 4,062 Hockey Centre 64,766 1,288 84,002 1,437 68,600 1,246 69,714 1,306 Sports Halls 87,374 6,851 98,308 9,288 122,511 11,706 140,028 13,580 TOTAL 457,851 11,525 481,002 14,405 468,287 16,473 471,865 18,948 Monthly Average 38,154 960 40,084 1,200 39,024 1,373 39,322 1,579
16 The State Sports Centre Trust Annual Report 2008-2009 Facility Usage – Attendance Facility Usage – Bookings
350000 15000
300000 12000 250000
9000 200000
150000 No. of Persons 6000 No. of Bookings 100000 3000 50000
0 0 05-06 06-07 07-08 08-09 05-06 06-07 07-08 08-09
Sports Centre Hockey Centre Sports Halls Sports Centre Hockey Centre Sports Halls
Junior Rock Eisteddfod
The State Sports Centre Trust Annual Report 2008-2009 17 General Operations
Support to Sport Freedom of Information The State Sports Centre Trust supports the development of sport The published Statement of Affairs as at 30 June, 2009 as by offering a range of services and discounted hiring fees to required under the Freedom of Information Act 1989 is available sporting associations using its facilities. to members of the public. Details of the procedure for enquiries are contained in Appendix II. Guarantee of Service Minutes of Trust meetings are available for inspection at the Sports Centre by arrangement with the Freedom of Information Officer. The Trust aims to provide the highest possible standards of service to the public and to the hirers of the facilities in terms of Pursuant to the Freedom of Information Statistics Form Sections supervision, security, catering, ticketing and the provision of A to L inclusive, the Trust has received no requests for information, essential information. no requests for notation of personal records and no requests for reviews or appeals for the year ended 30 June, 2009 (nil in the De-briefing sessions are held following each major event to ensure 2007-08 year). problems are systematically resolved and that service is always of a high standard. Written feedback is sought from event hirers via Copies of the Statement of Affairs have been prepared for the an online questionnaire. Meetings are also held with sporting public and none were requested during the year ended 30 June, association representatives on a regular basis. 2009 (nil in the 2007-08 year). Customer feedback is essential to the improvement of the Trust’s operations. Any letter of complaint or compliment is responded to Privacy Management within ten days of its receipt and customer feedback is used to In accordance with the Privacy and Personal Information identify deficiencies in procedures or staff training. Protection Act 1988 the Trust has formulated a Privacy Management Plan. The plan identifies the types of personal Occupational Health and Safety information that the Trust holds and is responsible to protect. It also specifies the levels of protection adopted and the methods The Trust seeks to provide the safest possible environment for used to inform the public of the privacy policy as well as staff and visitors. The State Sports Centre Trust has a Safety Policy outlining the methods used to train staff in their obligations and Emergency Procedures Manual. The Trust continues to under the Act and the correct procedures to use in protecting improve OHS and Injury Management under the NSW personal information and in handling complaints. Government’s “Working Together” strategy. There were no applications for internal reviews received in In accordance with the OHS Plan the Trust consulted with staff 2008-09 or in prior years. and reappointed the staff OHS Representative during the year. Continued compliance with the Occupational Health and Safety Regulation of 2001 to ensure that all risks are identified and Child Protection appropriately managed was achieved through an ongoing review The Trust continues to comply with the Commission for Children process conducted at regular intervals throughout the year. This and Young People Amendment Act 2005 and has procedures in included updating of procedures, safe work method statements place to ensure the safety, welfare and wellbeing of the children and the OHS Safety Manual. entrusted into our care. All incidents that occur in the facilities are documented and All positions are assessed to establish whether they qualify as assessed to determine whether action is required to address any “child related employment” and staff members are screened to safety risks. Any improvements deemed through this process to ensure that they are not prohibited from working with children. be necessary are undertaken without delay. There were no public liability claims referred to the Trust’s insurer, the Treasury Managed Fund during the year.
18 The State Sports Centre Trust Annual Report 2008-2009 Human Resources
Personnel & Industrial Relations Casual events staff numbers vary according to event requirements in a range of around 50 to 100 staff (full time equivalent of Overall full-time and part-time staff numbers were maintained at around 5 to 10). They are employed under the State Sports 28 in the year under review with the creation of a new Program Centre Trust Casual Event Staff (State) Award 2004. Approximately Development position being offset by the deletion of an 10 Casual Gymnastic Coaches (full time equivalent of around 3 Operations Trainee role. A member of the Maintenance team was to 4) are employed under the Health, Fitness and Indoor Sports transferred to the Events Team as part of a minor restructure. Centres (State) Award. Permanent staff members are employed under Public Sector salaries awards and the Public Sector Conditions Award except where varied by local arrangements. Staff Training The categories under which full and part-time staff fall are as Staff attended external courses in sports venue and events follows: management, marketing, booking systems, safety, first aid and maintenance systems. Selected staff attended internal customer Number of FTE Staff service and responsible service of alcohol training and internal Category 2006-07 2007-08 2008-09 emergency evacuation courses were held for all staff. A two year Administration & Marketing 8 8 8 in-house Certificate IV in Sport and Recreation course conducted through TAFE was successfully completed by twelve staff Events 8 9 10 members. Operations 4 5 5 Maintenance 5 6 5 Total 25 28 28
Loreto-Normanhurst Music Festival
The State Sports Centre Trust Annual Report 2008-2009 19 Corporate Management
Insurance & Risk Management The management team was briefed during the year by an officer from the Department of Environment and Climate Change NSW The State Sports Centre Trust seeks to minimise risks to staff, on the use of the Sustainability Management Diagnostic tool to visitors and resources. Major risk areas of property, public liability assist in improving environmental sustainability. and workers’ compensation are fully covered by the Treasury Managed Fund. Advice and training is provided by the GIO and Regular assessments are conducted of possible energy saving Allianz who administer the Fund. Any recommendations are measures which may qualify under the Department of Energy, considered for implementation by the Trust. Utilities and Sustainability’s arrangement with NSW Treasury to provide loans to Government agencies to undertake projects As the owner of the buildings operated by the Trust the Sydney under the Government Energy Efficiency Investment Program. Olympic Park Authority is responsible for property insurance. Close Loans totalling $166,104 have been approved and projects liaison exists between the two organisations on risk and insurance undertaken in prior years to reduce power consumption through matters to ensure the safety of all users of the facilities. the use of power factor correction equipment, energy efficient Staff from various First Aid organisations are contracted to provide lighting, movement sensors, improved air conditioning controls first aid services during events. and an energy efficient hockey pitch lighting system. These projects have met expectations to date and have achieved the projected savings within their respective payback periods. Investment Management Performance Temporary surplus funds were invested in the Treasury Consultants Corporation Hour Glass Cash Facility and the Westpac Regulated Interest Account. A comparison of the annual rates of return for The Trust engaged eight consultants during the year to provide each is as follows: advice regarding structural engineering, hockey pitch lighting and algae treatment, electricity contracts, HR, marketing and Treasury Corporation 6.3% p.a. emergency management. The total cost of these services was Westpac Account 5.1% p.a. $23,645.
Energy Management Policy Annual Report Printing The Sports Centre observes NSW Government Energy The Annual Report was printed at a cost of $4925.50. The report Management Policy aimed at reducing greenhouse emissions. The is on the website at www.sports-centre.com.au. measures taken include energy audits, use of solar water heaters, computerised building control systems and the use of natural light whenever possible. The Trust has also opted to use SEDA accredited Green Power as part of its most recent energy supply agreement. The Trust has listed the objective of becoming a model of environmental sustainability in its 2008-2012 Strategic Plan.
Dancesport Challenge
20 The State Sports Centre Trust Annual Report 2008-2009 Finance Report
The operating profit for the year under review was $350,089 before depreciation expense of $594,362 and superannuation Income funds adjustment of $13,240. The net loss after the inclusion of these items was $231,063 which reduced the accumulated surplus at 30 June 2009 to $1,873,864. Sundry Revenue for the year from the hire of facilities was $3,818,560 Interest 2% which was 9% higher than the previous year. Most areas within Catering & Other 2% the three facilities made contributions to the overall increase in 8% revenue. Within the Sports Centre, the Arena, the Hall of Legends and the Gymnastic Centre increased by a total of $156,935. Revenues also rose for the Hockey Centre $11,547 and the Sports Halls $22,118. Grants Total grants received from the Sydney Olympic Park Authority 20% Hire of were $1,150,000. There was a reduction from the previous Facilities year’s figure of $1,185,500 which included a development grant 68% of $52,500. An actuarial assessment resulted in a $1,160 decrease in the surplus of two superannuation funds which is shown as the net of $13,240 Superannuation Funds Adjustment revenue item and $14,400 loss recognised directly in equity. This continues the trend of the $16,456 decrease for this item in the previous year. Expenditure on staff salaries and related costs rose by $303,280 due to salary award increases, the first full year of wages for the Events Maintenance Officer and a new position of Program Expenditure Development Officer. An increase in Event Staging Expenses of $74,184 was offset by savings in Other Expenses of $102,013. These items accounted for most of the increase in Total Expenses of $269,272. Catering & Advertising Insurances There was only a $24,005 movement in Current Assets at 30 Maintenance 3% 1% June with a net increase in cash and investments of $36,325 6% and a reduction in Receivables of $14,017. Sundry 5% Acquisitions less disposals of Property, Plant and Equipment of $234,116 less depreciation expense of $594,392 reduced the Events net value of Non-Current Assets compared to the previous year 7% by $360,276. Staff 50% A reduction in Trade and Other Payables of $181,581 at the year end was due to the previous year being higher than usual due Depreciation to the inclusion of a ticket sales proceeds debt of $175,258. 10% There was an increase in rentals in advance and deposits for future hire of facilities of $46,763 which brought the downward movement in current liabilities of $79,385. Borrowings of $52,186 under Non-Current Liabilities represents the long term portion of the debt remaining to NSW Treasury for Services an advance provided under the Government’s Energy Efficiency 18% Investment Program for longer life energy efficient hockey lighting. Once again purchases of essential plant and equipment were funded from the surplus for the year. The net value of these purchases was $229,830 which was funded from the $350,089 operating surplus referred to above.
The State Sports Centre Trust Annual Report 2008-2009 21 State Sports Centre Trust Audit Certificate
22 The State Sports Centre Trust Annual Report 2008-2009 The State Sports Centre Trust Annual Report 2008-2009 23 State Sports Centre Trust Director’s Statement
24 The State Sports Centre Trust Annual Report 2008-2009 Balance Sheet State Sports Centre Trust as at 30 June 2009
Parent Consolidated 2009 2008 2009 2008 Note $ $ $ $
Assets Current Assets Cash & Cash Equivalents 18a 732,321 756,708 732,321 756,708 Trade & Other Receivables 4, 1h 304,564 318,581 304,564 318,581 Other Financial Assets 5 1,195,516 1,134,804 1,195,516 1,134,804 Inventories 6, 1d 11,769 10,072 11,769 10,072 Total Current Assets 2,244,170 2,220,165 2,244,170 2,220,165
Non-Current Assets Property, Plant & Equipment 7 1,576,503 1,936,779 1,576,503 1,936,779 Superannuation Funds Surplus 15 - - 203,674 204,834 Total Non-Current Assets 1,576,503 1,936,779 1,780,177 2,141,613
Total Assets 3,820,673 4,156,944 4,024,347 4,361,778
Liabilities Current Liabilities Trade & Other Payables 8, 1h 392,240 573,781 392,240 573,781 Provisions 9, 1g 384,250 326,023 587,924 530,857 Borrowings 11,247 12,921 11,247 12,921 Other 10 354,006 307,243 354,006 307,243 Total Current Liabilities 1,141,743 1,219,968 1,345,417 1,424,802
Non-Current Liabilities Provisions 9 5,758 7,095 5,758 7,095 Borrowings 52,186 63,433 52,186 63,433 Total Non-Current Liabilities 57,944 70,528 57,944 70,528
Total Liabilities 1,199,687 1,290,496 1,403,361 1,495,330
Net Assets 2,620,986 2,866,448 2,620,986 2,866,448
Equity Retained Surplus 17 1,873,864 2,119,327 1,873,864 2,119,327 Asset Revaluation Reserve 17 747,122 747,122 747,122 747,122 Total Equity 2,620,986 2,866,449 2,620,986 2,866,449
The accompanying notes form part of the Financial Statements.
The State Sports Centre Trust Annual Report 2008-2009 25 State Sports Centre Trust Income Statement for year ended 30 June 2009
Parent Consolidated 2009 2008 2009 2008 Note $ $ $ $
Revenue Hire of Facilities 2a 3,818,560 3,490,635 3,818,560 3,490,635 Grants 2b 1,150,000 1,185,500 1,150,000 1,185,500 Catering and Other Services 2c 461,536 517,287 461,536 517,287 Advertising 2d 17,846 21,170 17,846 21,170 Interest on Investments 88,579 96,355 88,579 96,355 Other Income 2e 108,323 77,712 108,323 77,712 Revenue From Sale of Assets 16 15,454 34,545 15,454 34,545 Superannuation Funds Adjustments 15 - - 13,240 20,340 Total Revenue 5,660,298 5,423,204 5,673,538 5,443,544
Expenses Personnel Services 3a 2,928,955 2,615,794 - - Salaries and Associated Costs 3b - - 2,705,606 2,402,326 Maintenance and Repair 342,106 369,155 342,106 369,155 Rates, Telephones, Electricity, Fuel and Gas 3c 416,666 392,943 416,666 392,943 Depreciation 1c, 7 594,392 622,896 594,392 622,896 Fees for Services Rendered 3d 648,944 680,154 648,944 680,154 Insurance 1t 53,930 53,340 53,930 53,340 Workers Compensation 1t - - 34,907 33,050 Superannuation - - 187,282 163,962 Advertising and Promotion 61,151 21,670 61,151 21,670 Event Staging Expenses 402,278 328,094 402,278 328,094 Rent 87,869 84,066 87,869 84,066 Other Expenses 3e 343,529 445,542 343,529 445,542 Project Expenses - 4,658 - 4,658 Doubtful Debts 4 6,162 2,046 6,162 2,046 Written Down Value of Assets Disposed 16 19,779 31,427 19,779 31,427 Total Expenses 5,905,761 5,651,785 5,904,601 5,635,329
Net Profit/(Loss) for the Year (245,463) (228,581) (231,063) (191,785)
The accompanying notes form part of the Financial Statements.
26 The State Sports Centre Trust Annual Report 2008-2009 Cash Flow Statement State Sports Centre Trust for year ended 30 June 2009
Parent Consolidated 2009 2008 2009 2008 Note $ $ $ $
Cash Flows from Operating Activities Payments Employee Related (2,448,551) (2,180,505) (2,448,551) (2,180,505) Suppliers 18c (3,302,727) (3,117,523) (3,302,727) (3,117,523) Receipts Cash Receipts from Customers 18c 4,837,169 4,941,213 4,837,169 4,941,213 Receipts from Grants - Recurrent 1,150,000 1,185,500 1,150,000 1,185,500 Interest Received 27,867 23,926 27,867 23,926 Net Cash used in Operating Activities 18b 263,758 852,611 263,758 852,611
Cash Flows from Investing Activities Purchase of Plant and Equipment (229,967) (413,896) (229,967) (413,896) Payments for Purchase of WIP - (10,285) - (10,285) Proceeds From Sale of Plant and Equipment 15,455 21,818 15,455 21,818 Purchase of Investments (60,712) (72,429) (60,712) (72,429) Net Cash Used in Investing Activities (275,224) (474,792) (275,224) (474,792)
Cash Flows from Financing Activities Increase / (Repayment) of Borrowings (12,921) 61,591 (12,921) 61,591 Net Decrease in Cash & Cash Equivalents (24,387) 439,410 (24,387) 439,410 Cash & Cash Equivalents at the Beginning of the Year 756,708 317,298 756,708 317,298 Cash & Cash Equivalents at the End of the Year 18a 732,321 756,708 732,321 756,708
The accompanying notes form part of the Financial Statements.
The State Sports Centre Trust Annual Report 2008-2009 27 Statement of Recognised Income State Sports Centre Trust and Expense for year ended 30 June 2009
Parent Consolidated 2009 2008 2009 2008 Note $ $ $ $
Increase in Asset Revaluation Reserve 17 - - - - Superannuation Funds: Actuarial (losses)/gains - - (250,288) (157,360) Adjustment for limit on net assets - - 235,888 120,564 Total Income Recognised Directly in Equity - - (14,400) (36,796)
Net Profit /(Loss) for the Year (245,463) (228,581) (231,063) (191,785) Total Recognised Income and Expense for the Year (245,463) (228,581) (245,463) (228,581)
Effect of change in accounting policy
Profit for the period as reported in 2008 (228,581) Change of policy - actuarial losses 36,796 Restated profit for the period (191,785)
The accompanying notes form part of the Financial Statements.
28 The State Sports Centre Trust Annual Report 2008-2009 Notes to & forming part of the Financial Statements State Sports Centre Trust
1 Summary of Significant Accounting All physical non-current assets costing over $10,000 and all items under $10,000 which are considered at risk of theft are Policies capitalised. (a) Reporting Entity (f) Revenue Recognition The State Sports Centre Trust, as a reporting entity, comprises all the entities under its control, namely the State Sports Centre Revenue is recognised to the extent that it is probable that Trust Division. the economic benefits will flow to the Trust and the revenue can be reliably measured. The following specific recognition The State Sports Centre Trust Division was established on 17 criteria must also be met before revenue is recognised: March 2006 pursuant to Part 2 of Schedule 1 to the Public Sector Employment and Management Act 2002. The Division’s Grants from other bodies are generally recognised as objective is to provide personnel services to the State Sports revenues when the Trust obtains control over the assets Centre Trust. comprising the grants or contributions. Control over grants and contributions, is normally obtained upon receipt of cash. In the process of preparing the consolidated financial report for the economic entity consisting of the controlling and Hire of Facilities, Catering and Other Services, Advertising and controlled entities, all inter-entity transactions and balances Other Income – when the service is provided. have been eliminated. Interest on Investments – recognised as it accrues. The Trust is a not-for-profit entity (as profit is not its principal Asset Sales – control of the assets has passed to the buyer. objective). Sale of goods – revenue from the sale of goods is recognised This consolidated financial report for the year ended 30 June as revenue when the Trust transfers the significant risks and 2009 has been authorised for issue by the Director of the State rewards of ownership of the assets. Sports Centre Trust on 16 October 2009. (g) Employee Benefits (b) Basis of the preparation of the financial statements Liabilities for salaries and wages and annual leave that fall due The Trust’s financial statements are a general purpose wholly within 12 months of the reporting date are recognised financial report. and measured in respect of employee services up to the The statements have been prepared in accordance with reporting date at undiscounted amounts based on the applicable Australian Accounting Standards, (which include amounts expected to be paid when the liabilities are settled. Australian Accounting Interpretations), other authoritative The outstanding amounts of payroll tax, workers pronouncements of the Australian Accounting Standards compensation insurance premiums and fringe benefits tax, Board, the requirements of the Public Finance and Audit Act which are consequential to employment, are recognised as 1983, the Public Finance and Audit Regulation 2005 and the liabilities and expenses where the employee benefits to which Treasurer’s Directions. they relate have been recognised. Property, plant and equipment are measured at fair value. Leave liabilities are recognised as expenses and provisions Other financial report items are prepared in accordance with when the obligations arise, which is usually through the the historical cost convention using accrual accounting. Cost rendering of service by employees. is based on the fair values of the consideration given in exchange for assets. The fair value of cash consideration with Long service leave is calculated on a pro-rata basis from the deferred settlement terms is determined by discounting any time employees pass their fifth year of duty with the Trust. amounts payable in the future to their present value as at the Consistent with AASB119 Employee Benefits the method date of acquisition. used approximates the present value of the estimated future cash outflows. Long service from the time employees pass (c) Depreciation of Property, Plant & Equipment their sixth year of service is considered to be unconditional as it may be taken after seven years service and is therefore Property, plant and equipment are depreciated at rates based classified as a current liability. on their expected useful economic lives to the Trust, using the straight line method. No liability exists for sick leave as there is no vesting sick leave entitlement and non-vesting sick leave taken in the past has The rates per annum applied to 30 June 2009 are: fixtures always been less than entitlements accrued. This situation is and fittings – 3 years to 23 years, sporting and other expected to continue. equipment 10%, office and mechanical equipment 20% and computer equipment 33 1/3 %. (h) Trade & Other Receivables & Payables
(d) Inventories Trade accounts receivables, which are generally settled within 14 days, are carried at original invoice amount less an All inventories are held for distribution and have been valued allowance for any uncollectible debts. Trade payables and at the lower of cost and net realisable value. Cost is other payables including accruals for goods received or determined on a first in, first out basis. services rendered not yet billed, are recognised initially at fair value, usually based on the transaction cost or face value (e) Capitalisation Thresholds when the Trust becomes obliged to make future payments
The State Sports Centre Trust Annual Report 2008-2009 29 Notes to & forming part of the State Sports Centre Trust Financial Statements
1 Summary of Significant Accounting Policies continued (n) Revaluation of Property, Plant and Equipment Physical non-current assets are valued in accordance with the as a result of purchases of assets or services. Trade accounts NSW Treasury “Valuation of Physical Non-Current Assets at payable are generally settled within 30 days. All receivables Fair Value” Policy and Guidelines Paper (TPP 07-1). This policy and payables are short term with no stated interest rates and adopts fair value in accordance with AASB 116 Property, Plant the effect of discounting is immaterial. and Equipment. Fair value of property, plant and equipment is determined based on the best available market evidence, (i) Allowance for Impairment including current market selling prices for the same or similar Bad Debts are written off when identified. An allowance for assets. Where there is no available market evidence, the impairment is made after thorough investigation and asset’s fair value is measured at its market buying price, the exhaustion of recovery processes. A review was carried out at best indicator of which is depreciated replacement cost. year end to determine the adequacy of the Allowance for The Trust revalues each class of property, plant and equipment Impairment. at least every five years or with sufficient regularity to ensure that the carrying amount of each asset in the class does not (j) Net Fair Values of Financial Assets and Liabilities differ materially from its fair value at reporting date. The last Net fair values of financial instruments are determined on the revaluation was completed on 30 June 2006 and was based following basis: on an independent assessment. Financial assets & liabilities which are not traded in an active Non-specialised assets with short useful lives are measured at market are determined on a cost basis. The carrying amounts depreciated historical cost, as a surrogate for fair value. of financial assets and financial liabilities approximate net fair When revaluing non-current assets by reference to current value. prices for assets newer than those being revalued (adjusted Investments in Treasury Corporation’s Hour Glass Cash Facility to reflect the present condition of the assets), the gross is measured at fair value with interest revenue accrued which amount and the related accumulated depreciation are is no less than the quoted market prices payable on demand. separately restated. For other assets, any balances of accumulated depreciation (k) Goods and Services Tax (GST) at the revaluation date in respect of those assets are credited Revenues, expenses and assets are recognised net of the to the asset accounts to which they relate. The net asset amount of GST except where: accounts are then increased or decreased by the revaluation • The amount of GST incurred that is not recoverable from increments or decrements. the Australian Taxation Office is recognised as part of the Revaluation increments are credited directly to the asset cost of acquisition of an asset or as part of an expense. revaluation reserve, except that, to the extent that an • Receivables and Payables are stated with the amount of increment reverses a revaluation decrement in respect of that GST included. class of asset previously recognised as an expense in the profit/loss, the increment is recognised immediately as (l) Superannuation revenue in the profit/loss. The amount recognised in the income statement for Revaluation decrements are recognised immediately as superannuation is the net total of current service cost, interest expenses in the profit/loss, except that, to the extent that a cost and the expected return on any plan assets are credit balance exists in the asset revaluation reserve in respect recognised as income or expense in the year they occur. In of the same class of assets, they are debited directly to the accordance with a NSW Treasury mandate actuarial gains or asset revaluation reserve. losses and adjustment for limit on net assets are recognised As a not-for-profit entity, revaluation increments and outside the income statement and are shown in the decrements are offset against one another within a class of statement of recognised income and expense in the year they non-current assets, but not otherwise. occur. The expense for the Basic Benefit and First State Super Where an asset that has previously been revalued is disposed, superannuation schemes is calculated as a percentage of the any balance remaining in the asset revaluation reserve in employees’ salary. The expense for the State Authorities respect of that asset is transferred to accumulated funds. Superannuation Scheme is calculated as a multiple of the employees’ superannuation contributions. (o) Borrowings (m)Tax Equivalent Regime Loans are from NSW Treasury for energy efficient Hockey lighting and are not held for trading or designated at fair value The Trust is subject to the Government’s Tax Equivalent through profit or loss and are recognised at amortised cost Regime under which payments are made on “accounting using the effective interest method. Gains or losses are profits”. After excluding capital works grants and depreciation recognised in the Income Statement on de-recognition. on assets purchased through grants, from revenue the result for the current year was a net deficiency and no tax payments (p) Borrowing Costs were therefore applicable. Borrowing costs are recognised as expenses in the period in which they are incurred, in accordance with Treasury’s Mandate to general government sector agencies.
30 The State Sports Centre Trust Annual Report 2008-2009 Notes to & forming part of the Financial Statements State Sports Centre Trust
1 Summary of Significant Accounting Policies continued AASB 2008-2 regarding puttable financial instruments; AASB 2008-5 and AASB 2008-6 regarding amendments (q) Acquisitions of Assets to the Australian Accounting Standards arising from the The cost method of accounting is used for the initial recording Annual Improvement Plan; of all acquisitions of assets controlled by the agency. AASB 2008-7 regarding costs of an investment in a Cost is the amount of cash or cash equivalents paid or the subsidiary, jointly controlled entity, or an associate; fair value of the other consideration given to acquire the asset AASB 2008-8 regarding eligible hedged items; at the time of its acquisition or construction or, where applicable, the amount attributed to that asset when initially AASB 2008-9 regarding AASB 1049 amendments recognised in accordance with the requirements of other consistent with AASB 101; Australian Accounting Standards. AASB 2008-11 regarding business combinations with not- Assets acquired at no cost, or for nominal consideration, are for-profit entities; initially recognised at their fair value at the date of acquisition. AASB 2009-1 regarding borrowing costs of not-for-profit Fair value is the amount for which an asset could be public sector entities; exchanged between knowledgeable, willing parties in an arm’s AASB 2009-2 regarding financial instrument disclosure; length transaction. Interpretation 15 on construction of real estate; Where payment for an asset is deferred beyond normal credit Interpretation 16 on hedges of a net investment in a terms, its cost is the cash price equivalent, i.e. deferred payment foreign operation; amount is effectively discounted at an asset-specific rate. Interpretation 17 and AASB 2008-13 on distribution of (r) Impairment of Property, Plant and Equipment non cash assets to owners; As a not-for-profit entity with no cash generating units, the Interpretation 18 on transfers of assets from customers; Trust is effectively exempted from AASB 136 Impairment of It is expected that the impact of the application of the new Assets and impairment testing. This is because AASB 136 Standards on the Trust’s financial report in the period of initial modifies the recoverable amount test to the higher of fair application will not be significant. value less costs to sell and depreciated replacement cost. This means that, for an asset already measured at fair value, (v) Change in Accounting Policy impairment can only arise if selling costs are material. Selling costs are regarded as immaterial. In accordance with NSW Treasury policy, the Trust has changed its policy on the recognition of superannuation actuarial gains (s) Maintenance and losses. Such actuarial gains and losses are now recognised outside of profit and loss in the ‘statement of Day-to-day servicing costs or maintenance are charged as recognised income and expense’. Previously, actuarial gains expenses as incurred, except where they relate to the and losses were recognised through profit or loss. Both replacement of a part or component of an asset, in which options are permissable under AASB 119 Employee Benefits. case the costs are capitalised and depreciated. The change in policy has been adopted on the basis that (t) Insurance recognition outside profit and loss provides reliable and more relevant information as it better reflects the nature of actuarial The Trust's insurance activities are conducted through the gains and losses. This is because actuarial gains and losses NSW Treasury Managed Fund Scheme of self insurance for are re-measurements, based on assumptions that do not Government agencies. The expense (premium) is determined necessarily reflect the ultimate cost of providing by the fund manager based on past claim experience. superannuation. Recognition outside profit or loss also harmonises better with the Government Finance (u) Early Adoption of New or Revised Accounting Standards/ Statistics/GAAP comprehensive income presentation for the Interpretations whole of Government and general government As mandated by NSW Treasury, the Trust has not early-adopted sector,required under AASB 1049 Whole of Government and the following new/revised Accounting Standards/Interpretations: General Government Sector Financial Reporting. A comprehensive income presentation will also be available at AASB 3 (March 2008), AASB 127 and AASB 2008-3 the entity level from 2009/10 under AASB 101 Presentation regarding business combinations; of Financial Statements. The change in accounting policy AASB 8 & AASB 2007-3 regarding operating segments; reduces 2009 ‘loss for the year’ from $245,463 to $231,063 AASB 101 (Sept 2007) and AASB 2007-8 regarding (2008: $228,581 to $191,785), by excluding from loss the presentation of financial statements; superannuation actuarial loss line item (2009: $14,400, 2008 $36,796). These items are now recognised in the ‘statement AASB 123 (June 2007) and AASB 2007-6 regarding of recognised income and expense’ rather than the ‘income borrowing costs; statement’. AASB 1039 regarding concise financial reports; AASB 2008-1 regarding share based payments;
The State Sports Centre Trust Annual Report 2008-2009 31 Notes to & forming part of the State Sports Centre Trust Financial Statements
Parent Consolidated 2009 2008 2009 2008 $ $ $ $ 2 Revenue (a) Hire of facilities Main arena including hire of private boxes 800,274 727,118 800,274 727,118 Hockey Centre playing fields 321,484 309,937 321,484 309,937 Hall of Legends for indoor sports 237,921 202,604 237,921 202,604 Gymnastic Centre 538,042 495,090 538,042 495,090 Sports Halls 670,007 552,394 670,007 552,394 Function/meeting rooms 25,050 53,883 25,050 53,883 Equipment rental 39,518 88,410 39,518 88,410 Accommodation rental 192,205 182,549 192,205 182,549 Events Services, including provision of sound, rigging and security for major events 894,831 782,738 894,831 782,738 Weight Training Centre 50,018 58,856 50,018 58,856 Programs and School Sports 49,210 37,056 49,210 37,056 3,818,560 3,490,635 3,818,560 3,490,635
(b) Grants Hall of Champions grants 25,000 17,000 25,000 17,000 Sydney Olympic Park Authority grants: General purpose grant 800,000 800,000 800,000 800,000 Basketball Development Grant - 52,500 - 52,500 Management fee 325,000 316,000 325,000 316,000 1,150,000 1,185,500 1,150,000 1,185,500
(c) Catering and other services Catering rights 413,578 463,692 413,578 463,692 Booking fees 47,958 53,595 47,958 53,595 461,536 517,287 461,536 517,287
Catering rights comprise income from payments under contract, which entitle the holder to catering rights at the Trust's venues.
(d) Advertising This item comprises income of $17,846 ($21,170 in 2007/08) from payments under contracts with various companies whose advertisements are displayed throughout the Centre and whose products may be sold through the catering outlets.
(e) Other Income Merchandise Sales 6,434 2,294 6,434 2,294 Bad Debts Recovered 729 - 729 - Miscellaneous income 101,160 75,418 101,160 75,418 108,323 77,712 108,323 77,712
32 The State Sports Centre Trust Annual Report 2008-2009 Notes to & forming part of the Financial Statements State Sports Centre Trust
Parent Consolidated 2009 2008 2009 2008 $ $ $ $ 3 Expenses (a) Personnel services Provided by the State Sports Centre Trust Division 2,928,955 2,615,794 - - 2,928,955 2,615,794 - -
(b) Salaries and associated costs Salaries and wages - - 2,493,630 2,224,311 Payroll tax and fringe benefit tax - - 124,604 109,435 Employee benefits:- Annual leave - - (444) 23,595 Long service leave - - 87,816 44,985 - - 2,705,606 2,402,326
(c) Rates, telephone, electricity, fuel and gas Electricity 277,801 250,178 277,801 250,178 Telephone and fax 35,968 52,252 35,968 52,252 Fuel and gas 39,423 26,443 39,423 26,443 Rates, water and sewerage 63,474 64,070 63,474 64,070 416,666 392,943 416,666 392,943
(d) Fees for services rendered Cleaning 546,455 565,362 546,455 565,362 Audit remuneration (Note 14) 41,500 43,000 41,500 43,000 Other 60,989 71,792 60,989 71,792 648,944 680,154 648,944 680,154
(e) Other expenses Motor vehicle and travel 13,746 22,629 13,746 22,629 Printing and stationery 25,576 27,988 25,576 27,988 Postage and courier 6,374 8,808 6,374 8,808 General administration 53,960 69,417 53,960 69,417 General events and maintenance 106,896 142,313 106,896 142,313 Liquor purchases 136,977 174,387 136,977 174,387 343,529 445,542 343,529 445,542
The State Sports Centre Trust Annual Report 2008-2009 33 Notes to & forming part of the State Sports Centre Trust Financial Statements
Parent Consolidated 2009 2008 2009 2008 $ $ $ $ 4 Trade & Other Receivables Trade debtors 290,096 301,701 290,096 301,701 Less allowance for impairment (5,300) (5,300) (5,300) (5,300) 284,796 296,401 284,796 296,401
Prepayments for salaries and service & maintenance contracts. 19,768 22,180 19,768 22,180 304,564 318,581 304,564 318,581
Movement in the Allowance for Impairment Balance at 1 July 5,300 5,000 5,300 5,000 Amounts written off during year (6,162) (1,746) (6,162) (1,746) Increase in allowance recognised in Profit and Loss 6,162 2,046 6,162 2,046 Balance at 30 June 5,300 5,300 5,300 5,300
The Trust considers the carrying amount of debtors approximate their net fair values.
(i) Credit Risk The Trust does not have any significant exposure to any individual customer or counterparty. The maximum credit risk is considered to be their net fair value. Further information relating to credit risk is provided in note 21 Financial Instruments. Major concentrations of credit risk that arise from the Trust’s receivables in relation to the industry categories and location of the customers by the percentage of the total receivables from customers are:
%
Catering Industry 36 Corporate Support 7 Event Revenue 48 Tenants and Contractors 9 Australia 100
Parent Consolidated 2009 2008 2009 2008 $ $ $ $ 5 Other Financial Assets Treasury Corporation Hour-Glass Cash Facility 1,195,516 1,134,804 1,195,516 1,134,804 1,195,516 1,134,804 1,195,516 1,134,804
(i) Significant Terms & Conditions The NSW Treasury Corporation's Hour-Glass Cash Facility is an unsecured interest bearing on call investment utilised by the Trust.
(ii) Credit Risk The Trust considers it does not have any significant risk exposure for investments in the Treasury Corporation’s Hour-Glass Cash Facility.
34 The State Sports Centre Trust Annual Report 2008-2009 Notes to & forming part of the Financial Statements State Sports Centre Trust
Parent Consolidated 2009 2008 2009 2008 $ $ $ $ 6 Inventories (a) Personnel services Liquor held for re-sale 11,769 10,072 11,769 10,072
7 Property, Plant and Equipment Buildings Improvements at fair value 1,150,886 1,105,949 1,150,886 1,105,949 Less Accumulated depreciation 467,290 418,766 467,290 418,766 Net Carrying Amount 683,596 687,183 683,596 687,183
Plant and Equipment at fair value 2,093,490 2,033,663 2,093,490 2,033,663 Less Accumulated depreciation 1,231,083 805,957 1,231,083 805,957 Net Carrying Amount 862,407 1,227,706 862,407 1,227,706 Work in Progress 30,500 21,890 30,500 21,890 Total property, plant and equipment at fair value 1,576,503 1,936,779 1,576,503 1,936,779
Reconciliation A reconciliation of the carrying amounts of each class of property, plant and equipment at the beginning and end of the current reporting period is set out below. Parent Consolidated Building Building Improve- Work In Plant & Improve- Work In Plant & ments ProgressEquipment Total ments ProgressEquipment Total 2009 $$ $ $ $$$$ Carrying amount at 1 July 2008 687,183 21,890 1,227,706 1,936,779 687,183 21,890 1,227,706 1,936,779 Additions 140,826 8,610 104,459 253,895 140,826 8,610 104,459 253,895 Disposals (net of depreciation) - - (19,779) (19,779) - - (19,779) (19,779) Depreciation Expense (144,413) - (449,979) (594,392) (144,413) - (449,979) (594,392) Revaluation Increase / (Decrease) ------Carrying amount at 30 June 2009 683,596 30,500 862,407 1,576,503 683,596 30,500 862,407 1,576,503
The State Sports Centre Trust Annual Report 2008-2009 35 Notes to & forming part of the State Sports Centre Trust Financial Statements
7 Property, Plant and Equipment continued
Reconciliation A reconciliation of the carrying amounts of each class of property, plant and equipment at the beginning and end of the previous reporting period is set out below. Parent Consolidated Building Building Improve- Work In Plant & Improve- Work In Plant & ments ProgressEquipment Total ments ProgressEquipment Total 2008 $$ $ $ $$$$
Carrying amount at 1 July 2007 873,793 5,335 1,488,496 2,367,624 873,793 5,335 1,488,496 2,367,624 Additions - 16,555 206,923 223,478 - 16,555 206,923 223,478 Disposals (net of depreciation) (31,427) (31,427) - - (31,427) (31,427) Depreciation Expense (186,610) (436,286) (622,896) (186,610) - (436,286) (622,896) Revaluation Increase / (Decrease) ------Carrying amount at 30 June 2008 687,183 21,890 1,227,706 1,936,779 687,183 21,890 1,227,706 1,936,779
The Trust funded net purchases of $229,830 ($172,378 in 2007/08) for essential plant and equipment and building improvements items throughout the year from the operating profit before adjustments as follows: Parent Consolidated 2009 2008 2009 2008 $ $ $ $
Net Profit / (Loss) (231,063) (191,785) (231,063) (191,785) Deduct Net Capital Works Grants - - - - Deduct Net Subsidy Grants - (52,500) - (52,500) Add Back Depreciation 594,392 622,896 594,392 622,896 Superannuation Funds Adjustment expense/(revenue) (13,240) (20,340) (13,240) (20,340) Operating Profit Before Capital Works Grants, Depreciation and Superannuation Funds Adjustment. 350,089 358,271 350,089 358,271
8 Trade & Other Payables Trade payables 271,286 468,615 271,286 468,615 Accrued expenses 120,954 105,166 120,954 105,166 392,240 573,781 392,240 573,781
36 The State Sports Centre Trust Annual Report 2008-2009 Notes to & forming part of the Financial Statements State Sports Centre Trust
Parent Consolidated 2009 2008 2009 2008 $ $ $ $ 9 Provisions Current: Annual and accrued leave - - 147,646 148,090 Unconditional Long Service Leave - - 440,278 382,767 Personnel Services 384,250 326,023 - - 384,250 326,023 587,924 530,857
Non-Current: Conditional Long Service Leave - - 5,758 7,095 Personnel Services 5,758 7,095 - - 5,758 7,095 5,758 7,095
Total Employee Benefits 390,008 333,118 593,682 537,952
10 Other Liabilities Current: Room rental in advance 73,868 99,639 73,868 99,639 Deposits for future hire of facilities 241,718 185,050 241,718 185,050 Prepaid advertising rights 27,780 3,475 27,780 3,475 Vehicles Notional Lease 10,640 19,079 10,640 19,079 354,006 307,243 354,006 307,243
11 Contingent Liabilities There is a contingent liabilities of $91,500 at balance date ($nil in 2007/08). The whole or part of this amount may be payable for the cost of installing additional Hockey TV lights. A claim has been made against the supplier for for this cost to be waived due to the inadequacy of the previously installed TV lights.
12 Segment Reporting The Trust operates predominantly in one industry being the establishment, management and maintenance of comprehensive sports and recreational complexes. It also operates in one geographical segment being the Sydney Metropolitan Area.
13 Trustee’s And Director’s Remuneration Fees of $28,600 ($30,316 in 2007/08) were paid to the Trustees of the State Sports Centre Trust during the year ended 30 June 2009. No fees ($nil in 2007/08) or benefits were paid to the Director of the State Sports Centre Trust in addition to the contracted salary package during the year ended 30 June 2009.
Parent Consolidated 2009 2008 2009 2008 $ $ $ $ 14 Remuneration Of Auditors Audit Office of NSW* 25,500 26,500 25,500 26,500 RSM Bird Cameron (Deloitte Touche Tohmatsu for 2008) 16,000 16,500 16,000 16,500 41,500 43,000 41,500 43,000
* Represents amounts paid and payable to the Audit Office of NSW relating to the audit of the financial statements. No other amounts were paid to the Audit Office of NSW.
The State Sports Centre Trust Annual Report 2008-2009 37 Notes to & forming part of the State Sports Centre Trust Financial Statements
15 Superannuation The Trust has no unfunded superannuation liability at 30 June 2009 ($nil in 2007/08). Superannuation has been provided for all employees in compliance with the Superannuation Guarantee Scheme1992. The actuary appointed by SAS Trustee Corporation (STC) has assessed the gross superannuation liabilities for certain employees within the two defined benefits schemes (SASS and SANCS) administered by the SAS Trustee Corporation (STC) for the year ended 30 June 2009. The calculation of SASS and SANCS is based on the requirements of AASB119 ‘Employee Benefits’. The valuation method and principal actuarial assumptions at the reporting date are:
a) Valuation Method The Projected Unit Credit (PUC) valuation method was used to determine the present value of the defined benefit obli- gations and the related current service costs. This method sees each period of service as giving rise to an additional unit of benefit entitlement and measures each unit separately to build up the final obligation.
b) Economic Assumptions 30 Jun 2009 30 Jun 2008 (% pa) (% pa)
Expected salary increases 3.5 3.5 Discount rate at 30 June 5.59 6.55 Expected return on plan assets at 30 June 8.13 7.3 Expected rate of increase in CPI 2.5 2.5
c) Demographic Assumptions Assumptions about rates of mortality, resignation, retirement and other demographics are as per the 2009 triennial valuation. The status of the superannuation reserves as at 30 June 2009 with the Superannuation Administration Corporation is as follows: Parent Consolidated 2009 2008 2009 2008 Total Total SANCS SASS Total Total $$$$$$
Fair value of plan assets - - 154,195 1,333,349 1,487,544 1,597,484 Present value of defined benefit obligations - - (126,960) (1,156,910) (1,283,870) (1,156,762) Surplus in excess of recovery available from schemes - - - - - (235,888) Balance at 30 June - - 27,235 176,439 203,674 204,834
The combined surpluses for the SASS and SANCS funds of $203,674 is reflected as a Non-current Asset, “Superannuation Funds Surplus”. The net reduction of $1,160 ($16,456 in 2007/08) is comprised of an income item “Superannuation Funds Adjustment” $13,240 ($20,340 in 2007/08) in the Income Statement and an adjustment for actuarial losses $14,400 ($36,796 in 2007/08) in the Statement of Recognised Income and Expense.
38 The State Sports Centre Trust Annual Report 2008-2009 Notes to & forming part of the Financial Statements State Sports Centre Trust
15 Superannuation continued
The following table summarises the components of net benefit income or expense recognition in the Income Statement. Parent Consolidated 2009 2008 2009 2008 $ $ $ $
Total expenses recognised in the Income Statement Current service cost - - 39,988 39,209 Interest on obligation - - 72,309 67,893 Expected return on plan assets - - (125,537) (127,442) Past service cost - - - Losses (gains) on curtailments and settlements - - - - Total included in employee benefits (income) expense - - (13,240) (20,340)
16 Gain/(Loss) on Disposal of Assets Revenue from sale of assets 15,455 34,545 15,455 34,545 Written Down Value of assets sold (17,450) (26,113) (17,450) (26,113) Gain on sale of assets (1,995) 8,432 (1,995) 8,432 Written Down Value of assets written off (2,329) (5,314) (2,329) (5,314) Net Gain (Loss) on assets sold & written off (4,324) 3,118 (4,324) 3,118
17 Equity Retained Surplus at the beginning of the reporting year 2,119,327 2,347,909 2,119,327 2,347,909 Net Profit/(Loss) for the year (245,463) (228,582) (231,063) (191,785) Superannuation Actuarial (Gains) / Losses - - (250,288) (157,360) Superannuation adjustment for limit on net asset - - 235,888 120,563 Retained Surplus at the end of the year 1,873,864 2,119,327 1,873,864 2,119,327 Asset Revaluation Reserve 747,122 747,122 747,122 747,122 Total Equity 2,620,986 2,866,449 2,620,986 2,866,449
The Asset Revaluation Reserve is used to record increments and decrements on the revaluation of Non Current Assets. This accords with the Trust’s policy on the ‘Revaluation of Property, Plant and Equipment’ as discussed in Note 1.
The State Sports Centre Trust Annual Report 2008-2009 39 Notes to & forming part of the State Sports Centre Trust Financial Statements
Parent Consolidated 2009 2008 2009 2008 $ $ $ $ 18 Cash Flow Information (a) Reconciliation of Cash For the purpose of the statement of cash flows, cash and cash equivalents include cash on hand and at bank. Cash at 30 June 2009 as shown in the Statement of Cash Flows is reconciled to the related items in the Balance Sheet as follows:
Cash 2,700 2,200 2,700 2,200 Deposits at call 729,621 754,508 729,621 754,508 732,321 756,708 732,321 756,708
(b) Reconciliation of Net Cash Provided by Operating Activities to the Net Profit/(Loss) Net Profit/(Loss) (245,463) (228,581) (231,063) (191,785) Superannuation Adjustment - - (14,400) (36,796) Depreciation 594,392 622,896 594,392 622,896 Increase/(Decrease) in Payables (209,519) 263,013 (209,519) 263,013 (Decrease)/Increase in Wages Payable 4,050 21,349 4,050 21,349 Loss/(Gain) on Sale of Plant and Equipment 4,325 (3,118) 4,325 (3,118) Decrease/(Increase) in Receivables 11,605 90,945 11,605 90,945 (Decrease)/Increase in Revenue Received in Advance 46,763 46,673 46,763 46,673 Increase/(Decrease) in Provisions 55,730 29,717 55,730 29,717 Decrease/(Increase) in Inventories (1,697) (284) (1,697) (284) (Increase)/Decrease in Prepayments 2,412 (6,455) 2,412 (6,455) (Increase)/Decrease in Superannuation Funds Surplus 1,160 16,456 1,160 16,456 (Increase)/Decrease in Asset Revaluation - - - Net cash flows provided by operating activities 263,758 852,611 263,758 852,611
(c) In accordance with AASB 107 Cash Flow Statements and NSW Treasury Mandate payments to Suppliers do not include ticket sales proceeds paid to hirers where the Trust arranges for the sale of tickets for their events.
19 Consultants Fees of $23,645 were paid or payable to consultants engaged by the Trust during 2008/09 ($45,293 in 2007/08).
Parent Consolidated 2009 2008 2009 2008 $ $ $ $ 20 Other Expenditure Commitments Not later than one year 15,594 10,349 15,594 10,349 Total (including GST) 15,594 10,349 15,594 10,349
The amount of tax payable to the Australian Tax Office included within commitments is $1,418 ($941 was recoverable in 2007-08).
40 The State Sports Centre Trust Annual Report 2008-2009 Notes to & forming part of the Financial Statements State Sports Centre Trust
21 Financial Instruments The Trust's financial instruments are outlined below. These financial instruments arise directly from the Trust's operations or are required to finance the Trust's operations. The Trust does not enter into or trade financial instruments, for speculative purposes. The Trust’s main risks arising from financial instruments are outlined below, together with the Trust’s objectives, policies and processes for measuring and managing risk. Further quantitative and qualitative disclosures are included throughout this financial report. The Trust's Finance Committee has overall responsibility for the establishment and oversight of risk management and reviews and agrees policies for managing each of these risks. Risk management policies are established to identify and analyse the risks faced by the Trust, to set risk limits and controls and to monitor risks. Compliance with policies is reviewed by the FinanceCommittee and Internal auditors on a continuous basis.
Credit Risk Credit risk arises when there is the possibility of the Trust’s debtors defaulting on their contractual obligations, resulting in a financial loss to the Trust. The maximum exposure to credit risk is generally represented by the carrying amount of the financial assets (net of any allowance for impairment). Credit risk arises from the financial assets of the Trust, including cash, receivables, and authority deposits. No collateral is held by the Department. The Trust has not granted any financial guarantees.
Receivables - trade debtors All trade debtors are recognised as amounts receivable at balance date. Collectibility of trade debtors is reviewed on an ongoing basis. Procedures as established in the Treasurer’s Directions are followed to recover outstanding amounts, including letters of demand. Debts which are known to be uncollectible are written off. An allowance for impairment is raised when there is objective evidence that the entity will not be able to collect all amounts due. This evidence includes past experience, and current and expected changes in economic conditions and debtor credit ratings. No interest is earned on trade debtors. Sales are made on 14 day terms. The Trust is not materially exposed to concentrations of credit risk to a single trade debtor or group of debtors. Based on past experience, debtors that are not less than 3 months past due 2009 $19,306 (2008 $18,641) and not less than 6 months past due 2009 $13,612 (2008 $552) are not considered impaired and together these represent 2009 11.3% (2008 6.4%) of the total trade debtors. There are no debtors which are currently not past due or impaired whose terms have been renegotiated. The only financial assets that are past due or impaired are ‘sales of goods and services’ in the ‘receivables’ category of the balance sheet.
Total Past due but not impaired Considered Impaired
2009 < 3 months overdue 19,306 - 3,000 3 Months - 6 months overdue 13,612 - 1,900 > 6 months overdue - - -
2008 < 3 months overdue 18,641 - 4,925 3 Months - 6 months overdue 552 - 375 > 6 months overdue - - -
The State Sports Centre Trust Annual Report 2008-2009 41 Notes to & forming part of the State Sports Centre Trust Financial Statements
21 Financial Instruments continued
Liquidity Risk The Trust's exposure to liquidity is deemed insignificant, based on prior period's data and current assessment of risk.
The Trust’s financial instruments all have maturity dates of less than one year and the exposure to interest rate risk and their effective interest rates at balance date are: Weighted average Fixed effective Floating interest rate Non interest interest rate interest rate 1 year or less bearing Total Parent % $ $ $ $ 30 June 2009 Financial Assets Cash & Cash Equivalents 5.1 729,621 - 2,700 732,321 Trade & Other Receivables - - 284,796 284,796 Other Financial Assets 6.3 1,195,516 - - 1,195,516 1,925,137 - 287,496 2,212,633
Financial Liabilities Trade & Other Payables - - 392,241 392,241 Net Financial Assets (Liabilities) 1,925,137 - (104,745) 1,820,392
30 June 2008 Financial Assets Cash & Cash Equivalents 6.6 754,508 - 2,200 756,708 Trade & Other Receivables - - 296,401 296,401 Other Financial Assets 6.7 1,134,804 - - 1,134,804 1,889,312 - 298,601 2,187,913
Financial Liabilities Trade & Other Payables - - 573,781 573,781 Net Financial Assets (Liabilities) 1,889,312 - (275,180) 1,614,132
Weighted average Fixed effective Floating interest rate Non interest interest rate interest rate 1 year or less bearing Total Consolidated % $ $ $ $ 30 June 2009 Financial Assets Cash & Cash Equivalents 5.1 729,621 - 2,700 732,321 Trade & Other Receivables - - 284,796 284,796 Other Financial Assets 6.3 1,195,516 - - 1,195,516 1,925,137 - 287,496 2,212,633
Financial Liabilities Trade & Other Payables - - 392,241 392,241 Net Financial Assets (Liabilities) 1,925,137 - (104,745) 1,820,392
42 The State Sports Centre Trust Annual Report 2008-2009 Notes to & forming part of the Financial Statements State Sports Centre Trust
21 Financial Instruments continued
Weighted average Fixed effective Floating interest rate Non interest interest rate interest rate 1 year or less bearing Total Consolidated % $ $ $ $
30 June 2008 Financial Assets Cash & Cash Equivalents 6.6 754,508 - 2,200 756,708 Trade & Other Receivables - - 296,401 296,401 Other Financial Assets 6.7 1,134,804 - - 1,134,804 1,889,312 - 298,601 2,187,913
Financial Liabilities Trade & Other Payables - - 573,781 573,781 Net Financial Assets (Liabilities) 1,889,312 - (275,180) 1,614,132
Other price risk – TCorp Hour-Glass facilities Exposure to ‘other price risk’ primarily arises through the investment in the TCorp Hour-Glass Cash Investment Facility, which is held for strategic rather than trading purposes. The Trust has no direct equity investments. The Trust holds units in the following Hour-Glass investment facility: 2009 2008 Cash, money market instruments Up to 1.5 years 1,195,516 1,134,804
The unit price of each facility is equal to the total fair value of the net assets held by the facility divided by the number of units on issue for that facility. Unit prices are calculated and published daily NSW TCorp is trustee for the above facility and is required to act in the best interest of the unitholders and to administer the trusts in accordance with the trust deeds. As trustee TCorp acts as manager for part of the Cash Facility. Investment in the Hour-Glass facilities limits the Trust’s exposure to risk, as it allows diversification across a pool of funds with different investment horizons and a mix of investments. NSW TCorp provides sensitivity analysis information for the Investment facility, using historically based volatility information collected over a ten year period, quoted at two standard deviations (i.e. 95% probability) as follows: Change in Unit Price Impact on Profit/Loss 2009 2008 Hour-Glass Cash Facility +/ - 1% 11,955 11,348
The carrying amounts of financial assets included in the Balance Sheet represent the Trust’s maximum exposure to credit risk in relation to these assets.
22 After Balance Date Events As at 27 July 2009 the Public Sector Employment and Management (Departmental Amalgamations) Order 2009 abolished the State Sports Centre Trust Division, transferring all branches to Communities NSW.
END OF AUDITED FINANCIAL STATEMENTS
The State Sports Centre Trust Annual Report 2008-2009 43 State Sports Centre Trust Division Audit Certificate
44 The State Sports Centre Trust Annual Report 2008-2009 The State Sports Centre Trust Annual Report 2008-2009 45 State Sports Centre Trust Division Director’s Statement
46 The State Sports Centre Trust Annual Report 2008-2009 Balance Sheet State Sports Centre Trust Division as at 30 June 2009
2009 2008 Note $ $
Current Assets Receivables 4 628,360 566,707 Total Current Assets 628,360 566,707
Non-Current Assets Receivables 4 5,758 7,095 Superannuation Funds Surplus 5 203,674 204,834 Total Non-Current Assets 209,432 211,929
Total Assets 837,792 778,636
Current Liabilities Payables 6 40,436 35,850 Provisions 7 587,924 530,857 Total Current Liabilities 628,360 566,707
Non-Current Liabilities Payables 6 203,674 204,834 Provisions 7 5,758 7,095 Total Non-Current Liabilities 209,432 211,929
Total Liabilities 837,792 778,636
Net Assets - -
Equity Retained Surplus - - Total Equity - -
The accompanying notes form part of the Financial Statements.
The State Sports Centre Trust Annual Report 2008-2009 47 State Sports Centre Trust Division Income Statement for year ended 30 June 2009
2009 2008 Note $ $
Revenue Personnel Services 2 2,928,955 2,615,794 Superannuation Funds Adjustment 13,240 20,340 Total Revenue 2,942,195 2,636,134
Expenses Salaries and Associated Costs 3 2,705,606 2,402,326 Workers Compensation 3 34,907 33,050 Superannuation 3 187,282 163,962 Total Expenses 2,927,795 2,599,338
Net Profit for the Year 14,400 36,796
The accompanying notes form part of the Financial Statements.
48 The State Sports Centre Trust Annual Report 2008-2009 Cash Flow Statement State Sports Centre Trust Division for the year ended 30 June 2009
2009 2008 Note $ $
Cash Flows from Operating Activities Payments Employee Related (2,927,795) (2,599,338)) Receipts Cash Receipts from Customers 2,927,795 2,599,338 Net Cash used in Operating Activities - -
Net Decrease in Cash & Cash Equivalents - - Cash & Cash Equivalents at the Beginning of the Year - - Cash & Cash Equivalents at the End of the Year - -
The accompanying notes form part of the Financial Statements.
The State Sports Centre Trust Annual Report 2008-2009 49 Statement of Recognised State Sports Centre Trust Division Income and Expense for the year ended 30 June 2009
2009 2008 Note $ $
Net Profit /(Loss) for the Year 14,400 36,796 Superannuation actuarial gains/(losses) (14,400) (36,796) Total Recognised Income and Expense for the Year - -
Effect of change in accounting policy
Profit for the period as reported in 2008 - Change of policy - actuarial losses 36,796 Restated profit for the period 36,796
The accompanying notes form part of the Financial Statements.
50 The State Sports Centre Trust Annual Report 2008-2009 Notes to & forming part of the Financial Statements State Sports Centre Trust Division
1 Summary of Significant Accounting If there is objective evidence at year end that a receivable may not be collectable, its carrying amount is reduced by means Policies of an allowance for doubtful debts and the resulting loss is (a) Reporting Entity recognised in the income statement. Receivables are monitored during the year and bad debts are written off The State Sports Centre Trust Division is a Division of the against the allowance when they are determined to be Government Service, established pursuant to Part 2 of irrecoverable. Any other loss or gain arising when a receivable Schedule 1 to the Public Sector Employment and Management is derecognised is also recognised in the income statement. Act 2002. It is a not-for-profit entity as profit is not its principal objective. It is consolidated as part of the NSW Total State Sector Accounts. It is domiciled in Australia and its principal (e) Payables office is at the Sydney Olympic Park Sports Centre, Olympic Payables include accrued wages, salaries, and related on costs Boulevard, Sydney Olympic Park, New South Wales. (such as payroll tax, fringe benefits tax and workers’ The Division’s objective is to provide personnel services to the compensation insurance) where there is certainty as to the State Sports Centre Trust. amount and timing of settlement. The financial report was authorised for issue by the Director A payable is recognised when a present obligation arises of the State Sports Centre Trust on 16 October 2009. under a contract or otherwise. It is derecognised when the obligation expires or is discharged, cancelled or substituted.
(b) Basis of the preparation A short-term payable with no stated interest rate is measured at historical cost if the effect of discounting is immaterial. This is a general purpose financial report prepared in accordance with the requirements of Australian Accounting Standards (which include Australian Accounting (f) Employee benefit provisions and expenses Interpretations), the Public Finance and Audit Act 1983, the Provisions are made for liabilities of uncertain amount or Public Finance and Audit Regulation 2005, and specific uncertain timing of settlement. directions issued by the Treasurer. Employee benefit provisions represent expected amounts Generally, the historical cost basis of accounting has been payable in the future in respect of unused entitlements adopted and the financial report does not take into account accumulated as at the reporting date. changing money values or current valuations. Liabilities associated with, but that are not, employee benefits The accrual basis of accounting has been adopted in the (such as payroll tax) are recognised separately. preparation of the financial report. Superannuation and leave liabilities are recognised as Management’s judgments, key assumptions and estimates expenses and provisions when the obligations arise, which is are disclosed in the relevant notes to the financial report. usually through the rendering of service by employees. All amounts are expressed in Australian currency. Superannuation is actuarially assessed prior to each reporting date and is measured at the present value of the estimated (c) Income future payments. Income is measured at the fair value of the consideration All other employee benefit liabilities (i.e. for benefits falling received or receivable. Revenue from the rendering of due wholly within twelve months after reporting date) are personnel services is recognised when the service is provided assessed by management and are measured at the and only to the extent that the associated recoverable undiscounted amount of the estimated future payments. expenses are recognised. The amount recognised for superannuation is the net total of the present value of the defined benefit obligation at the (d) Receivables reporting date, minus the fair value at that date of any plan assets out of which the obligations are to be settled directly. A receivable is recognised when it is probable that the future cash inflows associated with it will be realised and it has a The amount recognised in the income statement for value that can be measured reliably. It is derecognised when superannuation is the net total of current service cost, interest the contractual or other rights to future cash flows from it cost and the expected return on any plan assets are expire or are transferred. recognised as income or expense in the year they occur. In accordance with a NSW Treasury mandate actuarial gains or A receivable is measured initially at fair value and subsequently losses and adjustment for limit on net assets are recognised at amortised cost using the effective interest rate method, less outside the income statement and are shown in the any allowance for doubtful debts. A short-term receivable with statement of recognised income and expense in the year they no stated interest rate is measured at the original invoice occur. The expense for the Basic Benefit and First State Super amount where the effect of discounting is immaterial. An superannuation schemes is calculated as a percentage of the invoiced receivable is due for settlement within thirty days of employees’ salary. The expense for the State Authorities invoicing. Superannuation Scheme is calculated as a multiple of the employees’ superannuation contributions.
The State Sports Centre Trust Annual Report 2008-2009 51 Notes to & forming part of the State Sports Centre Trust Division Financial Statements
1 Summary of Significant Accounting Policies continued (h) Change in Accounting Policy In accordance with NSW Treasury policy, the Trust has changed The actuarial assessment of superannuation uses the its policy on the recognition of superannuation actuarial gains Projected Unit Credit method and reflects estimated future and losses. Such actuarial gains and losses are now recognised salary increases and the benefits set out in the terms of the outside of profit and loss in the 'statement of recognised plan. The liability is discounted using the market yield rate on income and expense'. Previously, actuarial gains and losses government bonds of similar maturity to those obligations. were recognised through profit or loss. Both options are Actuarial assumptions are unbiased and mutually compatible permissable under AASB 119 Employee Benefits. and financial assumptions are based on market expectations The change in policy has been adopted on the basis that for the period over which the obligations are to be settled. recognition outside profit and loss provides reliable and more Long service leave is calculated on a pro-rata basis from the relevant information as it better reflects the nature of actuarial time employees pass their fifth year of duty. Consistent with gains and losses. This is because actuarial gains and losses are AASB119 “Employee Benefits” the method used re-measurements, based on assumptions that do not approximates the present value of the estimated future cash necessarily reflect the ultimate cost of providing outflows. Long service from the time employees pass their superannuation. Recognition outside profit or loss also sixth year of service is considered to be unconditional as it harmonises better with the Government Finance may be taken after seven years service and is therefore Statistics/GAAP comprehensive income presentation for the classified as a current liability. whole of Government and general government sector,required under AASB 1049 Whole of Government and General No liability exists for sick leave as there is no vesting sick leave Government Sector Financial Reporting. A comprehensive entitlement and non-vesting sick leave taken in the past has income presentation will also be available at the entity level always been less than entitlements accrued. This situation is from 2009/10 under AASB 101 Presentation of Financial expected to continue. Statements. The change in accounting policy increases 2009 ‘profit for the year’ from $0 to $14,400 (2008: $0 to $36,796), (g) Accounting for the Goods and Services Tax (GST) by excluding the superannuation actuarial loss line item (2009: $14,400, 2008 $36,796). These items are now recognised in Revenues, expenses and assets are recognised net of the the ‘statement of recognised income and expense’ rather than amount of GST, except where: the 'income statement'. • the amount of GST incurred as a purchaser that is not recoverable from the Australian Taxation Office is recognised as part of the cost of acquisition of an asset or as part of an item of expense. • receivables and payables are stated with the amount of GST included.
52 The State Sports Centre Trust Annual Report 2008-2009 Notes to & forming part of the Financial Statements State Sports Centre Trust Division
2009 2008 $$ 2 Personnel Services Revenue from the sale of personnel services to the State Sports Centre Trust 2,928,955 2,615,794 2,928,955 2,615,794
3 Expenses Expenses incurred in providing personnel services to the State Sports Centre Trust. 2,927,795 2,599,338 2,927,795 2,599,338
4 Receivables Amounts owed by the State Sports Centre Trust for employee related services as follows: Current Annual and accrued leave 147,646 148,090 Unconditional Long Service Leave 440,278 382,767 Accrued salaries and wages 40,436 35,850 628,360 566,707
Non-Current Conditional Long Service Leave 5,758 7,095 5,758 7,095
5 Superannuation Funds Surplus Combined surplus for the SANCS and SASS defined benefit superannuation schemes 203,674 204,834 203,674 204,834
6 Payables Current Accrued salaries and wages 40,436 35,850 40,436 35,850
Non-Current Superannuation Funds Surplus 203,674 204,834 203,674 204,834
7 Provisions Current Annual and accrued leave 147,646 148,090 Unconditional Long Service Leave 440,278 382,767 587,924 530,857
Non-Current Conditional Long Service Leave 5,758 7,095 5,758 7,095
The State Sports Centre Trust Annual Report 2008-2009 53 Notes to & forming part of the State Sports Centre Trust Division Financial Statements
8 Financial Instruments The Division does not have a separate bank account or a bank overdraft facility. It uses the bank facility of State Sports Centre Trust. The Division's principal financial instruments are outlined below. These financial instruments arise directly from the Division's operations or are required to finance the Division's operations. The division does not enter into or trade financial instruments, including derivative financial instruments, for speculative purposes. The Trust's Finance Committee has overall responsibility for the establishment and oversight of risk management and reviews and agrees policies for managing each of these risks. Risk management policies are established to identify and analyse the risks faced by the Division, to set risk limits and controls and to monitor risks. Compliance with policies is reviewed by the Trust's Finance Committee on a continuous basis.
(a) Financial Instrument Category 2009 2008 Notes $ $
Financial Assets Receivables 4 634,118 573,802 634,118 573,802
Financial Liabilities Payables 6 244,110 240,684 244,110 240,684 Notes 1 Excludes statutory receivables and prepayments (not within scope of AASB 7). 2 Excludes statutory payables and unearned revenue (not within scope of AASB 7).
(b) Credit Risk Credit risk arises when there is the possibility of the Division's debtors defaulting on their contractual obligations, resulting in a financial loss to the Division. There are no financial assets that are past due or impaired in the balance sheet. Exposure to credit risk is considered minimal.
(c) Liquidity Risk The Division's exposure to liquidity risk is deemed insignificant based on prior periods' data and current assessment of risk.
(d) Market Risk The Division is not subject to any interest rate, foreign currency or other price risk.
(e) Fair Value The cost of financial instruments recognised in the balance sheet approximates the fair value, because of the short-term nature of the financial instruments.
9 Contingent Liabilities There are no contingent liabilities.
10 After Balance Date Events As at 27 July 2009 the Public Sector Employment and Management (Departmental Amalgamations) Order 2009 abolished the State Sports Centre Trust Division, transferring all branches to Communities NSW.
END OF AUDITED FINANCIAL STATEMENTS
54 The State Sports Centre Trust Annual Report 2008-2009 Accounts Payment Performance State Sports Centre Trust For Year Ended 30 June 2009
Payable at Payable at Payable at Payable at 30-Sep-08 31-Dec-08 31-Mar-09 30-Jun-09
Current $251,363 $106,476 $143,976 $266,487 Less than 30 days overdue - - - - Between 30 & 60 days overdue - - - - Between 60 & 90 days overdue - - - - More than 90 days overdue - - - -
Paid Paid Paid Paid Qtr Ended Qtr Ended Qtr Ended Qtr Ended Accounts paid within each quarter 30-Sep-08 31-Dec-08 31-Mar-09 30-Jun-09
Percentage of Accounts paid on time 100% 100% 100% 100% Total value of accounts paid on time $1,182,675 $1,115,134 $748,876 $927,484 Total value of accounts paid $1,182,675 $1,115,134 $748,876 $927,484
The State Sports Centre Trust Annual Report 2008-2009 55 State Sports Centre Trust Income & Expenditure Budget For the Year Ended 30 June 2009 & for the Year Ending 30 June 2010
Budget Actual Budget 2008/09 2008/09 2009/10 $000’s $000’s $000’s
Income Hire of Facilities 3,234 3,819 4,050 Grants 1,125 1,150 1,150 Catering & Other Services 465 461 506 Advertising 18 18 29 Interest on Investments 109 89 51 Other Income 36 108 70 Superannuation Funds Adjustments 13 Total Income 4,987 5,658 5,856
Expenditure Salaries & Associated Costs 2,408 2,654 2,681 Maintenance & Repairs 396 342 421 Rates, Telephones, Electricity, Fuel & Gas 385 417 505 Fees for Services Rendered 620 649 827 Insurance 48 54 56 Superannuation 175 187 177 Advertising & Promotion 35 61 50 Event Staging Expenses 320 402 426 Rent 87 88 161 Other Expenses 324 344 412 Bad Debts 2610 Provision for Employee Leave Entitlements 60 87 74 Total Expenditure 4,860 5,291 5,800
Operating Profit 127 367 56
Less Depreciation (640) (594) (560) Gain (Loss) on Disposal of Assets - (4) -- Expected Net Profit (Loss) for the year (513) (231) (504)
56 The State Sports Centre Trust Annual Report 2008-2009 Appendix 1 Appendices
Trust Committees and Attendances July 2008 – March 2009
Attendances
Trust Meetings A.B. Whelpton AO, Chairperson 7 C. Gallagher 5 H. M. Brownlee OAM 5 L. Ellis AM 4 L. Landon 5 N. Hubble 7 I. Stephenson 4 D. Clout 6 P. Ross (in attendance) J. Elliott (in attendance) W. Prior (in attendance) 7 meetings
Trust Committees Finance I. Stephenson, Chairperson 4 C. Gallagher 5 A. B. Whelpton AM 7 P. Ross (in attendance) J. Elliott (in attendance) 7 meetings
The State Sports Centre Trust Annual Report 2008-2009 57 Appendices Appendix 2
Freedom of Information Enquiries Enquires may be made in person, by mail or by phone as follows: Location: State Sports Centre Trust Sydney Olympic Park Sports Centre Olympic Boulevard Sydney Olympic Park NSW 2127 Postal Address: PO Box 135 Sydney Markets NSW 2129 Hours of Access: 8.45 am - 4.45 pm Monday - Friday (inclusive) Telephone Enquiries: (02) 9763 0111 Fax: (02) 9746 1994 FOI Officer: John Elliott Corporate Services Manager Fees and Charges are as follows:
Nature of Application Application Processing Fee Charge
Access to records by natural persons about their personal affairs $30 - $40* $40/hour After first 20 hours* All other requests * $40/hour* Internal Review *** $30 - $50*** Nil Amendment of Records Nil ** Nil
* Subject to a 50% reduction for financial hardship and public interest reasons. ** Refunds may apply as a result of successful internal reviews and applications for amendment of records. *** No application fees may be charged for internal reviews in relation to amendment of records.
58 The State Sports Centre Trust Annual Report 2008-2009 Index
Annual Report Printing 20 Gymnastics Centre 10
Audit Certificates 22, 44 Hall of Champions 11
Budget 56 Hockey Centre, Sydney Olympic Park 10
Chairman’s Report 3 Human Resources 19
Charter 6 Insurance 20
Committees 57 Investment Performance 20
Consultants 20 Key Achievements 2008-2009 8,9
Contact Information inside front cover Letter to the Minister 2
Contents 1 Meeting Attendances 57
Corporate Management 20 Occupational Health and Safety 18
Corporate Support 60 Operations Review 18
Child Protection Policy 18 Organisation Chart 7
Director’s Report 4 Other Programs 11
Director’s Statements 24, 46 Payment of Accounts 55
Energy Management Policy 20 Personnel and Industrial Relations 19
Events Activity 12 Privacy Management 18
Events Highlights 14, 15 Risk Management 20
Events Services 11 Schools Sports Program 11
Events Summary 13 Sports Halls, Sydney Olympic Park 11
Executive Staff 5 Staff Training 19
Facility Usage 16, 17 Support to Sport 18
Facilities of the Trust 10, 11 Sydney Olympic Park Sports Centre 10
Finance Report 21 Training and Participation 16
Financial Statements and Notes 25-54 Trust Members 5
Freedom of Information 18, 58 Weight Room 10
Guarantee of Service 18
The State Sports Centre Trust Annual Report 2008-2009 59 Partners & Supporters
60 The State Sports Centre Trust Annual Report 2008-2009
The State Sports Centre Trust The State Sports Centre Trust Annual Report 2008-2009