| Annual Report 2012-13 STRATEGY & VISION

To be ’s Favourite Sport 1. 2. 3. 4. 5.

Increase participation Provide world-class Produce the best teams, substantially and inspire leadership and Grow investment Put fans first players and officials the next generations management and unify in the game in the world of players and fans Australian

JJMost watched sport on JJMen’s and women’s JJ1.2m participants including JJImplement 2011 CA JJGenerate 40% growth TV (and online) by total national teams 200,000 females governance review in total cricket operating viewer hours and reach JJNumber one in all formats JJ250,000 MILO inCricket JJImplement 2011 financial revenue over the touring cycle JJPassion highest of any sport JJInspire the Australian public participants by 2015, model review including 1/3 girls JJDeliver operating JJDiverse fan base that JJ JJFoster excellent The favourite national surpluses across reflects the Australian teams in Australian sport JJNumber one organised relationships with population participation sport in key stakeholders Australian Cricket over the touring cycle JJAttendances average > Australia 1.6m p.a. JJBuild reserves at CA of $60m by 2015-16 and JJ 30% share of all sports $70m by 2016-17 media coverage by 2015 JJInvest at least 75% of revenue JJ World Cup that ignites in pillars 1, 2 and 3 fans’ passion for cricket

Cricket Australia Annual Report 2012-13 2 PRIORITIES 2012-13

Significantly grow engagement with female and community participants

Continue unification of Successful international summer Australian cricket

Improved team performance and Increased staff engagement perfect preparation for Ashes and alignment

Continued growth in BBL Successful sponsorship renewals

Continue to grow share of Successful domestic media coverage media rights renewal

Attract and retain junior Successful implementation of new participants via modified formats financial model for Australian Cricket

Cricket Australia Annual Report 2012-13 3 CHAIRMAN’S MESSAGE

It’s a year since major cricket governance reforms were approved at the 2012 annual general meeting and I am pleased to report the new board, including our first independent directors, is focussed on the needs of Australian cricket.

To most fans, there should be one simple from international matches in return Wally Edwards focus – on field success, particularly Test for guaranteed revenue to states. CHAIRMAN success – by the Australian men’s team. This protects them from volatile Wally Edwards became As a former player, I understand movements in gate revenue due to Cricket Australia’s 37th this. I share the public and player issues such as timing and duration Chairman in October 2011. disappointment in the 3-0 Ashes result of games and weather. A CA Board member which followed the 4-0 loss in . There is a significant emphasis on better since 1996, Wally was I was encouraged, however, by the team’s aligning CA and State and Territory Australia’s 271st Test increasing competitiveness as Associations as one efficient Australian player, playing three progressed and strong resolve as we go cricket organisation which works harder matches in 1974-75. into Australia’s summer. The Australian to deliver to fans, clubs, professional and Team Performance Review was a four- community players, schools, children and year plan and we are half way through commercial partners. that period. I am sure we will give fans more to cheer in the coming months. This has included improved communication between CA and the State Important as it is, on-field success by and Territory Cricket Associations at board our men – and by our women with and management levels at both ends. back-to-back ICC World T20 and ODI championships – is not our only Our 2011-15 strategic plan, which the measure of success. board has asked management to review as we start thinking beyond that horizon, Governance change has been commits Australian cricket to work consolidated with a new, simplified collectively on making cricket Australia’s cricket financial model which sees CA favourite sport by ensuring it is genuinely now receive all gate and signage revenue a sport for all Australians.

Continued 

Cricket Australia Annual Report 2012-13 4 CHAIRMAN’S MESSAGE

important outcome from our media rights discussions; important commercial renewals; and strong increases in the number of Australians, including females, playing cricket among the highlights. I pay tribute to departing directors Harry Harinath and David Dilley, and also to the late Graham Dixon from . I also congratulate great cricketers in , and Lisa Sthalekar who have retired from the international game and, along with all in Australian cricket, mourn the death of Putting fans first; developing the complex international cricket issues are former England and friend best teams, players and officials in important to a wide range of culturally of Australian cricket, Tony Greig. the world; increasing participation; diverse nations which all have their unifying Australian cricket and growing own outlooks and priorities. Finally, bring on this summer’s investment in the game are what we Commonwealth Bank Ashes call our five strategic pillars. In concluding, I thank my fellow directors, Series, another great season of and also finance, accounting and risk Australian community, state The Ashes result was disappointing management specialist John Davies, for and international cricket but we continue to make good progress his role as independent chair of our Audit and, now very close, the across cricket’s wide range of off-field and Risk Committee, and I thank the 2015 ICC Cricket World Cup activities, all of which contribute to States and Territories for their response which so many in Australia ensuring cricket is genuinely a sport for all to the move towards more collective and New Zealand are Australians and maintains its important Australian cricket thinking. working on to ensure it place in the Australian way of life. is not just a great cricket To CA’s dedicated management and staff event down under, but Globally, CA is an active member of led by James Sutherland, congratulations one of the world’s great the International Cricket Council, with on another strong year, with a range sporting events. strong engagement on the of a of successes such as the KFC T20 Big successful 2015 ICC Cricket World Cup in Bash League attracting new fans to Australia and New Zealand. Elsewhere, the game; progress with the Centre of we state our views in the knowledge that Excellence development; a significantly

Cricket Australia Annual Report 2012-13 5 CEO’S REPORT

Australian cricket, which is increasingly working as one integrated national sport with a vision of cricket being Australia’s favourite sport, has moved into the new financial year with clear goals.

These include winning back the Ashes and has increased over the last decade gearing up for a strong on and off-field and continuing to trend up with the James Sutherland ICC Cricket World Cup 2015 performance. success of the new KFC T20 Big Bash League competition, and strong CHIEF EXECUTIVE OFFICER But they also include a range of other performance by that competition James Sutherland has been targets which are collectively designed, in bringing new fans to the game. along with on-field success, to ensure Cricket Australia Chief cricket is a sport for all Australians of Some 13% of BBL attendees last Executive Officer since all backgrounds. season were new fans and 50% 2001 and is a former were family groups. first-class cricketer Australia’s make up continues to change and our challenge is to ensure that all Cumulatively, cricket had 19.3 million Australians see themselves reflected in viewers across metropolitan and our national sport, whether playing at regional TV, ahead of any other sport school or a local club, attending matches, by a clear margin, according to or watching on TV. independent figures. The past year has seen increased Cricket’s popular place in the public diversity in our participation and fan consciousness helped us negotiate bases, increases in attendance and TV excellent new broadcast contracts with viewers, cricket achieving the highest the Nine and Ten networks, with an TV reach of any sport, strong public outcome that will see BBL increase its popularity of our men’s and women’s audience, and through that, its proven international teams and the strongest ability to bring new fans to the game, measures for fan passion of any sport. by moving to free-to-air TV. Some measures standing out include an The critical importance of the new almost 19% increase in female TV broadcast contracts cannot participation, overall cricket attendance be over-stated.

Continued 

Cricket Australia Annual Report 2012-13 6 CEO’S REPORT

revenue drawing power of different international touring teams which visit each year. The fact that our revenue Changes in 2013-14 varies sharply from year to year leads include delinking the state to Australian cricket’s well-established 50-over Ryobi Cup from Bupa Sheffield revenue-smoothing policy over four- Shield cricket to give it a place and space year cycles which avoids erratic annual of its own, and to better prepare future fluctuations in expenditure in areas such international players for the tournament as state distributions and international style approach they will encounter in and state player payments. Revenue One-day International cricket. for the year just ended was down from Continued  almost $265 million to slightly over $168 million, resulting in moving from a surplus before state distributions of $45.6 million to a deficit of $34.6 million. They add up to more than $840 million KFC. Cricket has the strongest commercial Despite this, long-term revenue over the next five years, a figure that partner program of any national sporting smoothing allowed, among other things, does not include our TV revenue from body in Australia. The long-standing a significant increase in distributions to ICC events such as World Cups or from Vodafone partnership came to an end State Cricket Associations, from $56.7 Champions League . The during the year and we sincerely thank million to $65.2 million. significant investment cricket needs them for their outstanding support. to make in everything ranging from Changes in our governance and related Strong commercial performance is encouraging young children to take reform and simplification of cricket’s imperative if cricket is to have the up the game through community financial model in the last year have helped capacity to invest in the development participation to finding and developing de-risk state-level financial performance. elite talent and all that is involved in of the game which in turn flows through keeping our international players on to elite performance by national teams. This, along with other changes such as the field of play is under-pinned by our We can’t take it for granted that people new formats to encourage more local- ability to sell high-value media rights and will automatically play or follow cricket, level participation and greater national attract other commercial partners. or any other sport for that matter, as they recognition of clubs’ roles is expected might have done early in Australia’s history. to help local-level delivery to clubs and Cricket’s public popularity helped us cricket’s base. secure significant contract renewals or Financially, the figures detailed in the deals with the Commonwealth Bank, following accounts reflect the well- As with other cricketing nations, Carlton & United Breweries, Toyota and documented annual fluctuations in balancing three formats revenue related to the varying TV-rights continues to be a priority.

Cricket Australia Annual Report 2012-13 7 CEO’S REPORT

The Australian Team Performance Review improving over the coming summer and (ATPR) is now half way through its four- forward to the 2015 ICC Cricket World Cup. year program, and a significant number of the recommended changes that were I support the acknowledgements our designed to encourage a genuinely Chairman has made in this report and add federal, performance-based structure my thanks to him and his fellow Directors from Under-19 cricket up are in place. It for their dedication and strong strategic was pleasing we were able to move our focus on Australian cricket’s future. I also female international cricketers onto a reinforce his thanks to the hard-working more professional basis this year. people throughout Australian cricket. Our men’s team, poised what seems I also sincerely thank the 52,000 such a short time ago for a crack at Australians who volunteer their time number one Test status, has had a to support cricket, contributing almost disappointing year. But there has been seven million hours of invaluable time to a steeling of team culture, and signs of the sport they love. re-emerging resolve even in the midst of Above all, I thank the fans, including all the disappointing Ashes series in England, the new fans who have never previously with new coach Darren Lehmann settling thought of watching or attending cricket, as into his challenging role very quickly. well as the tried-and-true purists who have The ATPR was not designed as a quick fix been with the game for decades. I look and I look forward to our performance forward to the coming summer offering you plenty of competitive entertainment.

Cricket Australia Annual Report 2012-13 8 LESS RELATIVE RELIANCE ON INTERNATIONAL MEDIA RIGHTS

100% Domestic 90% International

80% 35% 47% 70%

60%

50%

40%

30% 65% 53% 20%

10%

0% Previous Four Current Four Year Cycle Year Cycle (08/09-11/12) (12/13-15/16)

Cricket Australia Annual Report 2012-13 9 PARTICIPATION 2012-13

0 200k 400k 600k 800k 1m Outdoor participation 2012-13 952k has grown at 5% per year in the last decade

2011-12 880k FY10-FY13 includes indoor cricket participants. Definition of participant: requires minimum program 2010-11 850k of four weeks/games duration. Source: Street Ryan.

2009-10 804k

2008-09 605k

Cricket Australia Annual Report 2012-13 10 BROADCAST AND COMMERCIAL PARTNERS

2012/13 Summer

Platinum Partners Gold Partners Silver Partners

Broadcast Partners

Cricket Australia Annual Report 2012-13 11 GOVERNANCE

The Strategy for Australian Cricket has as one of its Board Structure central pillars to provide 9 Member Board world-class leadership and State Association-appointed Directors management and unify 6 Australian Cricket. 3 Independent Directors appointed Absent: Tony Harrison by CA Nominations Committee In August 2012, State Associations voted to replace CA’s state-based Board of 14 Directors with a new, nine-person Board with three independent Directors and one each appointed by the six State Associations. The six current State Association- appointed Directors are: Wally Edwards (WACA), John Bannon (SACA), Earl Eddings (), (Cricket New South Wales), Michael Kasprowicz (Queensland Cricket) and Tony Harrison (Cricket ). They are joined by independent Directors Jacqueline Hey, David Peever and Kevin Roberts on the nine-member Board. The Board will move progressively to become fully independent by 2017.

Cricket Australia Annual Report 2012-13 12 GOVERNANCE

Cricket Australia Board of Directors (at 30 June 2013)

Wally Edwards Hon Dr John Bannon AO Earl Eddings Tony Harrison Jacqueline Hey CHAIRMAN FROM CA DIRECTOR SINCE 2008 CA DIRECTOR SINCE 2008 CA DIRECTOR SINCE 2002 CA DIRECTOR SINCE 2012 28 OCTOBER 2011 JJNational Indigenous Cricket JJAudit and Risk Committee JJRemuneration Committee JJAudit and Risk Committee JJCA Director since 1996 Advisory Committee JJRemuneration Committee JJMedia Rights JJTest Player Cap No. 271 (Co-Chairman) Sub-Committee JJRemuneration Committee (Chairman) JJNominations Committee JJMedia Rights Sub-Committee

Michael Kasprowicz David Peever Mark Taylor AO Kevin Roberts CA DIRECTOR SINCE 2011 CA DIRECTOR SINCE 2012 CA DIRECTOR 2004-2012, 2013 CA DIRECTOR SINCE 2012

JJTest Player Cap No. 369 JJRemuneration Committee JJTest Captain from JJAudit and Risk Committee JJODI Player Cap No. 125 JJMedia Rights 1994-1999 JJNational Indigenous Cricket Sub-Committee JJTest Player Cap No. 346 Advisory Committee JJODI Player Cap No. 107

Cricket Australia Annual Report 2012-13 13 GOVERNANCE

Cricket Australia Board of Directors Cricket Australia Administration Cricket Australia Committees The following persons also held office as Directors of Directors are also appointed to committees to help Cricket Australia during the year until the time of CRICKET AUSTRALIA CHIEF EXECUTIVE OFFICER monitor and/or establish Cricket Australia policy. their retirement: The Chief Executive Officer reports to the Cricket Australia Board and is responsible for the overall management of THE FOLLOWING COMMITTEES MET IN 2012-13: Michael Silver OAM 25 September 2012 Cricket Australia’s administration, implementation of JJ Board policies and delivery of the CA Strategy. Audit and Risk Committee Mark Taylor AO 25 September 2012 JJNational Indigenous Cricket Advisory Committee

Kevin Griffiths 25 October 2012 EXECUTIVE TEAM (AT 30 JUNE 2013) JJNominations Committee JJMedia Rights Sub-Committee Ian McLachlan AO 25 October 2012 Chief Executive Officer James Sutherland JJRemuneration Committee Trevor O’Hoy 25 October 2012 Executive General Manager Mike McKenna Operations NOTES Bryan Phelan 25 October 2012 Executive General Manager JJThe Company Secretary is Dean Kino, General Kate Banozic Marshall Rosen 25 October 2012 Business and Advisory Services Manager, Legal and Business Affairs JJJohn Davies is Chair of the Audit & Risk Committee Geoff Tamblyn 25 October 2012 Executive General Manager Andrew Ingleton and is an independent consultant and non-director Game and Market Development David Williams 25 October 2012 JJDon Argus is Chair and Tony Hodgson is a member Executive General Manager of the Nominations Committee. They are independent Dr Harry Harinath 9 February 2013 Media, Communications Ben Amarfio consultants and non-directors and Marketing David Dilley 14 June 2013 Executive General Manager Marianne Roux People and Culture

Executive General Manager Pat Howard Team Performance

Cricket Australia Annual Report 2012-13 14 FINANCIAL REPORT

Income Statement

FOR THE YEAR ENDED 30 JUNE 2013 NOTES 2013 ($) 2012 ($) Revenue from continuing operations 164,303,311 260,803,059 Other income 4,089,455 3,828,075 Total Revenue 168,392,766 264,631,134 Expenditure from operating activities 1 137,871,711 162,341,470 Surplus from continuing operations 30,521,055 102,289,664 Distributions to State Associations 65,163,410 56,685,285 Surplus / (deficit) for the year (34,642,355) 45,604,379 Balance Sheet

AS AT 30 JUNE 2013 NOTES 2013 ($) 2012 ($) CURRENT ASSETS Cash and cash equivalents 2 67,654,475 64,706,353 Trade and other receivables 3 15,574,370 63,837,517 Inventories 4 1,194,851 2,033,027 Investments 5 - 840,896 Forward foreign exchange contracts 6 - 3,315,083 Other 7 8,930,768 444,070 Total current assets 93,354,464 135,176,946

NON-CURRENT ASSETS Forward foreign exchange contracts - 10,816,024 Investment property 8 1,525,000 1,525,000 Property, plant and equipment 9 24,537,718 16,689,981 Total non-current assets 26,062,718 29,031,005 Total assets 119,417,182 164,207,951

Cricket Australia Annual Report 2012-13 15 FINANCIAL REPORT

Balance Sheet

AS AT 30 JUNE 2013 NOTES 2013 ($) 2012 ($) CURRENT LIABILITIES Forward foreign exchange contracts 6 2,634,521 - Trade and other payables 10 20,905,518 20,911,798 Provisions 11 26,349,684 20,219,375 Revenue received in advance 12 10,668,096 20,555,210 Total current liabilities 60,557,819 61,686,383

NON-CURRENT LIABILITIES Forward foreign exchange contracts 6 2,724,272 - Provisions 13 8,651,567 8,313,105 Revenue received in advance 14 39,336,304 27,605,578 Total non-current liabilities 50,712,143 35,918,683 Total liabilities 111,269,962 97,605,066 Net assets 8,147,220 66,602,885

MEMBERS’ FUNDS Hedging reserves 15 (2,796,097) 21,017,213 General reserves 16 - - Accumulated funds 17 10,943,317 45,585,672 Total members’ funds 8,147,220 66,602,885

Cricket Australia Annual Report 2012-13 16 FINANCIAL REPORT

Statement of Changes in Equity

FOR THE YEAR ENDED 30 JUNE 2012 NOTES HEDGING GENERAL ACCUMULATED TOTAL RESERVE ($) RESERVE ($) FUNDS ($) EQUITY ($) Balance at 1 July 2011 18,820,080 - 2,981,293 21,801,373 Changes in the fair value of cash flow hedges 2,197,133 - - 2,197,133 Net income recognised directly into equity 2,197,133 - - 2,197,133 Transfer from General Reserves - - - - Surplus/(Deficit) for year - - 45,604,379 45,604,379 Total recognised income and expense for the year 2,197,133 - 45,604,379 47,801,512 Distributions to State Associations from reserves - - (3,000,000) (3,000,000) Total distributions from reserves - - (3,000,000) (3,000,000) Balance at 30 June 2012 15,16 & 17 21,017,213 - 45,585,672 66,602,885

FOR THE YEAR ENDED 30 JUNE 2013 NOTES HEDGING GENERAL ACCUMULATED TOTAL RESERVE ($) RESERVE ($) FUNDS ($) EQUITY ($) Balance at 1 July 2012 21,017,213 - 45,585,672 66,602,885 Changes in the fair value of cash flow hedges (23,813,310) - - (23,813,310) Net income recognised directly into equity (23,813,310) - - (23,813,310) Transfer from General Reserves - - - - Surplus/(Deficit) for year - - (34,642,355) (34,642,355) Total recognised income and expense for the year (23,813,310) - (34,642,355) (58,455,665) Distributions to State Associations from reserves - - - - Total distributions from reserves - - - - Balance at 30 June 2013 15,16 & 17 (2,796,097) - 10,943,317 8,147,220

The above statement of changes in equity should be read in conjunction with the accompanying notes.

Cricket Australia Annual Report 2012-13 17 FINANCIAL REPORT

Cash Flow Statement

FOR THE YEAR ENDED 30 JUNE 2013 NOTES 2013 ($) 2012 ($) CASH FLOWS FROM OPERATING ACTIVITIES Receipts from spectators, media, sponsors and customers 211,657,522 212,302,956 Payments to suppliers, players and employees (139,384,035) (118,655,154) Payments to members (65,163,410) (56,685,285) Interest received 3,524,079 990,008 Net cash inflow / (outflow) from operating activities 10,634,156 37,952,525

CASH FLOWS FROM INVESTING ACTIVITIES Payments for plant and equipment (7,686,034) (2,407,662) Payment for ACRA restricted investments - - Net cash (outflow) from investing activities (7,686,034) (2,407,662)

CASH FLOWS FROM FINANCING ACTIVITIES Payments to members from accumulated funds - (3,000,000) Net cash (outflow) from financing activities - (3,000,000)

Net increase / (decrease) in cash held 2,948,122 32,544,863 Cash at the beginning of the financial year 64,706,353 32,161,490 Cash at the end of the financial year 67,654,475 64,706,353

Cricket Australia Annual Report 2012-13 18 FINANCIAL REPORT

Notes To The Financial Statements

FOR THE YEAR ENDED 30 JUNE 2013 2013 ($) 2012 ($) 1. NET RESULT – The net result includes the following specific items: Expenses Depreciation Buildings 87,540 89,785 Freehold improvements 341,856 424,652 Office equipment 685,723 733,242 Leasehold improvements 96 309,369 Total depreciation and amortisation expense 1,115,215 1,557,048

Minimum lease payments 110,776 135,406 Employee benefits expense 50,211,015 70,098,892 Unrealised (gain)/loss on derivative financial instruments (4,323,411) 19,098,956

2. CURRENT ASSETS – CASH AND CASH EQUIVALENTS Cash at bank and on hand 2,678,721 2,902,766 Restricted Cash – ACRA, ICC & DOHA – Department of Health and Ageing 20,106,596 23,575,323 Interest bearing deposits 44,869,158 38,228,264 67,654,475 64,706,353

3. CURRENT ASSETS – TRADE AND OTHER RECEIVABLES Debtors 12,733,408 63,837,517 Receivable from related party 1,075,723 - Other Receivables – other 1,765,239 - 15,574,370 63,837,517

Cricket Australia Annual Report 2012-13 19 FINANCIAL REPORT

Notes To The Financial Statements

FOR THE YEAR ENDED 30 JUNE 2013 2013 ($) 2012 ($) 4. CURRENT ASSETS – INVENTORIES Inventory – cost 1,356,121 2,033,027 Inventory – provision for obsolescence (161,270) - 1,194,851 2,033,027

5. CURRENT ASSETS – INVESTMENTS Investments at fair value through profit or loss Restricted managed funds – ACRA – market value - 840,896 - 840,896

6. DERIVATIVE FINANCIAL INSTRUMENTS Current Assets/(Liabilities) Forward foreign exchange contracts and purchased foreign exchange options (2,634,521) 3,315,083 Non-current assets/(Liabilities) Forward foreign exchange contracts and purchased foreign exchange options (2,724,272) 10,816,024

7. CURRENT ASSETS – OTHER Accrued Income 4,758,820 142,876 Prepayments 4,171,948 301,194 8,930,768 444,070

8. NON-CURRENT ASSETS – INVESTMENT PROPERTY At cost 1,852,388 1,852,388 Less accumulated depreciation 327,388 327,388 1,525,000 1,525,000

Cricket Australia Annual Report 2012-13 20 FINANCIAL REPORT

Notes To The Financial Statements

FOR THE YEAR ENDED 30 JUNE 2013 2013 ($) 2012 ($) 9. NON-CURRENT ASSETS – PROPERTY Plant and Equipment Land and Buildings Land – cost 7,205,339 7,205,339 Building – cost 4,711,772 4,711,772 Building – WIP 10,224,113 2,211,154 Less accumulated depreciation 1,297,756 1,210,216 13,638,129 5,712,710 Total Land and Buildings 20,843,468 12,918,049 Plant and Equipment Office equipment – cost 5,760,099 4,983,054 Less accumulated depreciation 3,606,117 2,920,394 2,153,982 2,062,660 Leasehold improvements 753,024 580,076 Less accumulated depreciation 580,172 580,076 172,852 - Freehold improvements 4,305,960 4,305,960 Less accumulated depreciation 2,938,544 2,596,688 1,367,416 1,709,272 Total Plant and Equipment 3,694,250 3,771,932 24,537,718 16,689,981

10. CURRENT LIABILITIES – TRADE AND OTHER PAYABLES Trade payables 20,905,518 20,911,798

Cricket Australia Annual Report 2012-13 21 FINANCIAL REPORT

Notes To The Financial Statements

FOR THE YEAR ENDED 30 JUNE 2013 2013 ($) 2012 ($) 11. CURRENT LIABILITIES – PROVISIONS Annual leave 1,482,285 1,362,638 Long service leave 681,763 492,457 Provision for player payments 22,975,633 17,316,235 ACRA entitlements 1,087,152 959,850 Players’ and Umpires’ Retirement Benefits Scheme (P&URBS) 122,851 88,195 26,349,684 20,219,375

12. CURRENT LIABILITIES – REVENUE RECEIVED IN ADVANCE Revenue received in advance – COE Development 429,416 - Revenue received in advance – Media Rights/Sponsorship 10,238,680 20,555,210 10,668,096 20,555,210

13. NON CURRENT LIABILITIES – PROVISIONS Players’ and Umpires’ Retirement Benefits Scheme (P&URBS) 186,167 177,636 ACRA Entitlements 8,294,509 7,787,427 Long service leave 170,891 348,042 8,651,567 8,313,105

14. NON CURRENT LIABILITIES – OTHER Revenue received in advance – COE Development 23,549,046 19,833,037 Revenue received in advance – Media Rights 15,787,258 7,772,541 39,336,304 27,605,578

Cricket Australia Annual Report 2012-13 22 FINANCIAL REPORT

Notes To The Financial Statements

FOR THE YEAR ENDED 30 JUNE 2013 2013 ($) 2012 ($) 15. HEDGING RESERVE Movements: Balance 1 July 21,017,213 18,820,080 Transfer to net surplus (4,323,411) 15,972,200 Revaluation (19,489,899) (13,775,067) Balance 30 June (2,796,097) 21,017,213

16. GENERAL RESERVES Movements: Balance 1 July - - Transfer to Accumulated Funds - - Balance 30 June - -

17. ACCUMULATED FUNDS Movements: Balance 1 July 45,585,672 2,981,293 Net surplus/(deficit) for the financial year (34,642,355) 45,604,379 Transfer from General Reserves - - Special Distributions - (3,000,000) Balance 30 June 10,943,317 45,585,672

18. COMMITMENTS FOR EXPENDITURE Lease Commitments – Commitments relating to leases contracted at reporting date but not recognised as liabilities payable: Within one year 110,776 138,953 Later than one year but not later than five years - 110,776 110,776 390,612

Cricket Australia Annual Report 2012-13 23