2010.11 Annual Report

Redfern-Waterloo Authority WELCOMING SPIRIT Redfern-Waterloo Authority

REDFERN IS GROWING

A decade ago, the NSW Government made a Redfern-Waterloo is the traditional land of the Gadigal commitment to revitalise the Redfern and Waterloo area people of the Eora Nation and remains one of ’s through a ‘partnership’ with the local community focused most significant Indigenous communities. It is a thriving on delivering strategic urban renewal, improved human centre for culture, lifestyle and sporting excellence. services and employment opportunities. This vision was realised with the creation of the Redfern-Waterloo Authority Act 2004 No.107 and, in January 2005, the Redfern-Waterloo Authority (RWA) was established.

KEY OUTCOMES FOR REDFERN-WATERLOO IN 2010-11 INCLUDE:

• The release of the Draft Built Environment Plan • A new Redfern “brand” to help change negative Stage 2 (BEP 2) outlining the proposed planning perceptions of the area and create a platform from framework for the ongoing improvement of social which to promote the region over the long-term as an housing in Redfern, Waterloo and South Eveleigh; exciting destination for business and recreation; • The preparation of the Former Eveleigh Railway • An improved commercial streetscape and enhanced Workshops Interpretation Plan; sense of economic activity as a result of the Roll Up Redfern campaign; and • The establishment of the Metropolitan Development Authority (SMDA) by the NSW • Further implementation of the Human Services Government to continue the urban renewal initiatives Plan which focuses on improved service delivery of the RWA; for children and families, Aboriginal people, young people, older people, people with disabilities, migrant communities and the homeless. 2010-2011 Annual Report

VISION

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The vision of the Redfern-Waterloo Authority (RWA) is to establish Redfern-Waterloo as an active, vibrant and sustainable community by promoting and supporting greater social cohesion and community safety, respect for the cultural heritage, and the orderly development of the area in consideration of social, economic, ecological and other sustainable development.

CONTENTS

04 Redfern Brand - “Welcoming Spirit” 24 Human Services Plan 06 Sydney Metropolitan Development Authority 26 Employment and Enterprise Plan 07 To the Minister 28 A Community United Through Sport 08 Charter 29 Open For Business 09 Operational Area 30 Sponsorships/Grants provided by the Redfern-Waterloo Authority 10 Statement from the Chairperson and Chief Executive Officer 32 A Year of Recognition Achievements and Awards for Redfern 12 Aims and Objectives 34 Independent Auditors Report 13 Corporate Governance 36 Internal Audit and Risk Management Statement 14 Board Members 37 Statement by Members of the Board 17 Redfern-Waterloo Plan 38 Financials 18 Built Environment Plan 90 Appendices Redfern-Waterloo Authority

is WELCOMING

The Redfern-Waterloo Authority The new brand was launched at the iconic event on 5 February 2011. was part of an exciting initiative The distinct smile-shaped logo was painted onto in 2011 to relaunch Redfern the grounds for the match which saw take on the . and the surrounding areas of Waterloo, Darlington and The logo captures the “welcoming spirit” of the region and was created to change the perception of Redfern Eveleigh as a great place for and surrounding areas by encouraging locals to business and recreation. become community ambassadors, attracting new people to the area and promoting the many business opportunities on offer. The brand is also designed to increase the profile of Redfern’s vibrant cultural precincts such as the National Centre for Indigenous Excellence, and Oval, Eveleigh Market, Australian Technology Park, CarriageWorks along with the area’s great mix of shops, galleries, retro furniture stores, cafes and restaurants. “There are many fantastic initiatives in Redfern that The new brand was an initiative of the Roll Up Redfern Group which consists of the we’re very proud of. A lot Redfern-Waterloo Authority, , of people start out with one South Sydney Business Chamber (formerly perception of what Redfern Redfern Waterloo Chamber of Commerce), REDWatch and the South Sydney Rabbitohs. is all about and find it drastically different when they come here.”

Roy Wakelin-King AM, CEO Redfern-Waterloo Authority 2010-2011 Annual Report

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Connect online To help promote the positive developments in Redfern, there are social networking sites available at:

facebook.com/redfernwaterloo

twitter.com/redfern Redfern-Waterloo Authority

Sydney Metropolitan Development Authority (SMDA)

6 In September 2010, the NSW Government announced the establishment of the Sydney Metropolitan Development Authority (SMDA) to drive housing and employment opportunities in specific areas serviced by public transport and infrastructure, and to build economies of urban centres.

Redfern-Waterloo remains a priority for the The SMDA was approved and established by the SMDA which assumes many of the functions NSW Government on Friday, 17 December 2010 of the RWA and will use its achievements under the NSW Growth Centres (Development as a model to benefit all of Sydney. Corporations) Act 1974, as a Development Corporation. Specifically, the role of the Sydney CEO of the RWA, Roy Wakelin-King AM, is also Metropolitan Development Authority includes: CEO of the SMDA and sits on the SMDA Board. • Working with transport and planning The work of the RWA will move forward as per departments to identify precincts for renewal; the current plans and includes the upgrade to • Undertaking land use planning Redfern Train Station and the implementation investigations and feasibility analyses; of the Built Environment Plan 2. • Delivering an overarching precinct plan; • Coordinating transport and infrastructure planning; • Planning for open space in identified precincts; • Levying infrastructure contributions and entering into planning agreements; • Dealing with land as appropriate; • Borrowing and managing funds; and • Partnering with public agencies and private entities when necessary.

Important initiatives already actioned by the RWA will be continued by the SMDA including administration of key precincts such as North Eveleigh and Australian Technology Park.

In September 2010, the NSW Government announced the establishment of the Sydney Metropolitan Development Authority (SMDA) to drive housing and employment opportunities in specific areas serviced by public transport and infrastructure, and to build economies of urban centres. 2010-2011 Annual Report

To the Minister

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The Hon. Brad Hazzard MP Minister for Planning and Infrastructure, Minister assisting the Premier on Infrastructure NSW Governor Macquarie Tower Farrer Place Sydney

Dear Minister Hazzard

It is with pleasure that I forward you the seventh Annual Report of the Redfern-Waterloo Authority for the year ending 30 June 2011.

This report has been prepared in accordance with the NSW Annual Report (Statutory Bodies) Act 1984 No 87, the Annual Report (Statutory Bodies) Regulation 2000 and the Redfern-Waterloo Authority Act 2004 No 107.

Yours Sincerely

Roy Wakelin-King AM Chief Executive Officer

Redfern-Waterloo Authority Redfern-Waterloo Authority

Charter

8 Redfern and Waterloo are located just south of Sydney’s Central Business District. To the south-west are Sydney’s economic gateways, Port Botany and Sydney Airport.

The Redfern-Waterloo Authority (RWA) was created by a NSW Government Act of Parliament in Oct 2004 (Redfern-Waterloo Authority Act 2004 No 107) and established on 17 January 2005.

The RWA is responsible for revitalising Redfern, Waterloo, Eveleigh and Darlington through strategic urban renewal, job creation and improved human services in consideration of social, economic, ecological and other sustainable development, public spaces, Aboriginal community needs, social cohesion and community safety.

Under the direction of the NSW Government’s urban renewal program for Redfern-Waterloo, the revitalisation of the area has instilled renewed confidence in the region and encouraged an influx of creative enterprise and private investment. With the amount of commercial, residential and community facilities being developed or refurbished as a direct result of RWA initiatives, Redfern-Waterloo is seeing the benefits of a commitment to reinvestment, jobs and sustainable economic prosperity.

Since the inception of the RWA, the NSW Government has facilitated and delivered significant Under the direction of improvements in the Redfern-Waterloo area and for the local community through the development of the NSW Government’s housing and infrastructure, the provision of improved urban renewal program human services and employment opportunities for Redfern-Waterloo, the including dedicated roles for Indigenous workers. revitalisation of the area has instilled renewed confidence in the region and encouraged an influx of creative enterprise and private investment. 2010-2011 Annual Report

Operational Area

9 Redfern-Waterloo Authority

Statement from the Chairperson and Chief Executive Officer

10 It gives us great pleasure to present the Redfern-Waterloo Authority’s Annual Report for 2010/2011.

This was the sixth year of the Redfern-Waterloo The RWA received extensive and constructive Authority (RWA) since its establishment in 2005 under feedback in relation to the draft BEP 2 and the Redfern-Waterloo Authority Act, 2004 (the Act). this feedback will be used to inform the further development of this planning framework. 2010/2011 has been a very successful year for the RWA with much of its earlier hard work coming to The Roll Up Redfern group that was established fruition. This has resulted in positive progress in in 2009 with the City of Sydney, RWA, South the revitalisation of Redfern-Waterloo which will Sydney Business Chamber, REDWatch and the have direct and lasting benefits for the area. South Sydney Rabbitohs to help change negative perceptions about the area and to promote Redfern The RWA released the Draft Built Environment as a vibrant place to live, work and play, proudly Plan Stage 2 (BEP 2) that was developed in close launched the Redfern Brand at the Return to Redfern partnership with Housing NSW, for community Souths Rabbitohs football game in February 2011. feedback in January 2011. The Plan was publicly The Redfern Brand embraces the welcoming exhibited from 27 January to 28 February 2011 spirit of the Redfern community and is perfectly in a non statutory process. The Draft BEP 2 is captured in a logo based on the shape of a smile. the proposed planning framework supporting the renewal of Housing NSW sites in the Redfern The Redfern smile logo has quickly gained a and Waterloo area including South Eveleigh strong following throughout the local community over a 20-25 year timeframe. The Draft BEP 2 and is being used by local schools, Indigenous could potentially see 3,500 additional dwellings groups, cultural bodies, and businesses as well as in Redfern-Waterloo and will also result in the City of Sydney and government organisations improvements to current housing, parks and and can be seen throughout the area on street open spaces, community facilities and shops. banners, signs, t-shirts, caps and stickers.

The Human Services agencies continued to work together to help create a stronger and more cohesive community and to provide effective support to those members of the community that may require specialised services. This work included the RWA support of Weave (formerly South Sydney Youth Services) to provide an Art 2010/2011 has been a very Centre for socially excluded people to express successful year for the themselves and to create marketable art pieces. Redfern-Waterloo Authority The Centre is staffed by professionally trained art therapists and counsellors and provides support for with much of its earlier hard the target group to increase their artistic skills and work coming to fruition. to also create an income stream for this group. This has resulted in positive A $12 million, three year program which includes progress in the revitalisation “concierge” front desk style staff, on the ground of Redfern-Waterloo which maintenance teams and extra security measures was will have direct and lasting also introduced by Housing NSW at the six Waterloo high-rise public housing buildings to improve safety benefits for the area. for their 1,500 residents. This initiative will assist in the continuing decrease of crime statistics for the area. 2010-2011 Annual Report

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The successful work of the Redfern-Waterloo Heritage Taskforce and the Eveleigh Steering The Redfern smile logo Committee has culminated in the preparation of the former Eveleigh Railway Workshops has quickly gained a strong Interpretation Plan, which was well received following throughout the when it was publically exhibited in April 2011. local community and The Interpretation Plan documents a vision for is being used by local the Eveleigh Railway Workshops precinct that is schools, indigenous intended to guide interpretation of the site’s heritage groups, cultural bodies, significance as a conservation process designed to sustain and present the site’s authenticity and and businesses as well as character. It specifies a range of interpretive concepts the City of Sydney... that are conceived as independent elements that can be developed in isolation, in groups, or all together. The Plan is currently being revised to take account of submissions received during the exhibtition.

The RWA’s Employment and Enterprise programs The RWA’s Yaama Dhiyaan also catered for the continued to deliver strong results for both Koori Mail 20th Anniversary Dinner at CarriageWorks Aboriginal and non-Aboriginal people in the area for 520 guests including the Governor, the NSW of training and employment during 2010/2011. Minister for Aboriginal Affairs, Professor Mick Dodson and many other Aboriginal leaders from During the financial year, 25 students graduated across Australia. The anniversary dinner was the from the Yaama Dhiyaan Hospitality and largest gathering of Aboriginal people catered Training Centre with a Certificate II in Hospitality for by Aboriginal people since colonisation. Operations with 21 of these graduates going on to employment or higher education. The Koori The RWA once again supported a range Job Ready Course in Construction also had a of groups throughout the year through the very successful year with 45 students graduating Community Grants Program. This included and 39 of these graduates gaining either support of sports, arts, cultural and educational employment or going on to higher education. activities and events in the community.

The RWA’s Aboriginal Employment Program has The RWA greatly appreciates the support of the now brokered over 850 employment opportunities community organisations, government agencies for Aboriginal people since its inception in 2006. and professional bodies who have worked closely with the RWA to continue to achieve positive results for the Redfern-Waterloo community.

Dr Col Gellatly AO Roy Wakelin-King AM Chairperson Chief Executive Officer Redfern-Waterloo Authority

Aims & Objectives

12 • To encourage the urban renewal of In order to achieve its aims and objectives, Redfern-Waterloo into an active, vibrant the RWA has maintained an undertaking to: and sustainable community; • To promote, support and respect the Aboriginal • Promote, facilitate, manage and secure social, community in Redfern-Waterloo with regards to the economic, ecological and other sustainable importance of the area to the Aboriginal people; development and use of the operational area, • To promote the orderly development of Redfern- including the development and management Waterloo whilst taking into consideration of land, the provision of infrastructure and principles of social, economic, ecological the establishment of public areas; and other sustainable development; • Provide and promote housing choices in the • To provide and promote housing operational area (including for Aboriginal residents); choices in the operational area; • Provide and promote employment opportunities • To enable the establishment of public for local residents, commercial opportunities areas in Redfern-Waterloo; and for local businesses and cultural development (including the needs of the Aboriginal • To promote greater social cohesion and community) in the operational area; community safety in Redfern-Waterloo. • Enhance and manage public places in the operational area and to improve, maintain and regulate the use of those public places; • Promote, co-ordinate, organise, manage, undertake, secure, provide and conduct cultural, educational, commercial, recreational, entertainment and transport activities and facilities in the operational area; and • Do any other thing for the sustainable improvement of the operational area.

CEO

Business Administration

Human Services Training, Employment Planning and Urban Community Relations & Enterprise Renewal 2010-2011 Annual Report

Corporate Governance

13 The Minister for Planning and Infrastructure, Affordable Housing Committee Minister assisting the Premier for Infrastructure In accordance with RWA Board Procedures, NSW, the Hon. Brad Hazzard, is responsible for the Affordable Housing Committee the control and direction of the RWA. The Minister Terms of Reference are as follows: has established a Board of Governance and, while the Board establish the policies and directions • To review the development and operation for the RWA, its day to day management is the of the proposed affordable housing responsibility of the Chief Executive Officer. program for Redfern-Waterloo;

There are four Board Committees: • To review the operation of the Affordable Housing Voluntary Planning Agreement for the CUB site; and Audit and Risk Management Committee • To review the operation of the Affordable Housing Contributions Plan for Redfern-Waterloo. The Audit and Risk Management Committee is the focal point for communication between Membership: the Board, the external auditors, the internal Ann Weldon (18/01/09 to 16/01/11) auditors and management, as their duties Warren Mundine (23/01/07 to 16/01/11) relate to the financial accounting, reporting and Lucy Hughes Turnbull AO and internal controls and compliance. Urban Renewal Committee The Audit and Risk Management Committee assists the Board in fulfilling its responsibilities The Urban Renewal Committee reviews and as to accounting policies and reporting practices advises on proposed urban renewal strategies in of the RWA. It is to be the Board’s principal accordance with the RWA’s Built Environment Plan. agent in assuring the independence of RWA auditors, the integrity of management and the Membership: adequacy of the disclosures to the public. Richard Johnson (23/01/08 to 16/01/11) Michael Collins (18/01/09 to 16/01/11) Membership: Col Gellatly AO, and Lucy Hughes Turnbull AO. John Mulally (23/01/08 to 16/01/11), Human Services Committee Bonnie Boezman AO and Victoria Weekes The Human Services Committee advises on the implementation of the Human Services Plan

Membership: Sam Mostyn (18/01/09 to 16/01/11), Ann Weldon (18/01/09 to 16/01/11) John Mulally (23/01/08 to 16/01/11), and Lucy Hughes Turnbull AO.

Minister for Planning and Infrastructure

RWA Board

Audit and Risk Affordable Housing Management Urban Renewal Human Services Committee Committee Committee Committee Redfern-Waterloo Authority

Board Members

14 Board members are appointed in accordance with Section 9 Schedule 2 of the Redfern-Waterloo Authority Act 2004.

On the 16 January 2011 the appointments of the eight members of the RWA Board expired. Of those eight members, two were reappointed and a new member appointed so that, as of 16 January 2011, the RWA Board consisted of three appointed members and the Chief Executive Officer of the RWA as an ex-officio member.

Dr Col Gellatly AO B Ag Ec 9 (Hons) UNE, M Comm (Hons) UNSW, Ph D NC State, FIPAA Term of appointment 23/01/08 to 16/01/11 - Reappointed 16/01/11

Dr Col Gellatly AO was Chairperson of the Redfern-Waterloo Authority and Australian Technology Park as of 1 July 2007. Dr Gellatly is the former Director-General of the Premier’s Department, a role which he held since being appointed in 1994. He has held a number of senior management positions within the NSW public service, including as Director General of the Department of Land and Water Conservation. He is also Chair of Pillar Corporation, a member of the Board of State Water Corporation, a member of the UNE Council, member of Board of the NSW and an Administrator of Wollongong City Council. Dr Gellatly has a degree in Agricultural Economics from the University of New England, a Master of Commerce from the University of NSW and a PhD from North Carolina State University.

Mr Michael Collins FRICS Term of appointment 18/02/09 to 16/01/11

Mike Collins is a Sydney property practitioner. He has been involved in property economics, real estate valuation, property consultancy and asset management for over 35 years, and is professionally qualified in property economics and valuation. He runs his own property advisory company based in the Sydney CBD, and was the Chairman of the Sydney Harbour Foreshore Authority and the Barangaroo Delivery Authority. He is a Board Member of Australian Technology Park, a former Chairman of the Heritage Council of NSW and a former National and NSW President of the Australian Property Institute.

Mr Richard Johnson MBE M Phil (UCL) B.Arch Hons 1 (UNSW) FRAIA Term of appointment 23/01/08 to 16/01/11

Richard Johnson is an award winning architect and 2008 Gold Medallist. He is a Visiting Professor of Architecture at the University of and a Director of Johnson Pilton Walker Architects. He is also a Fellow of the Australian Institute of Architects, an Associate of the Japan Institute of Architects, and a Member of the Design Institute of Australia. Mr Johnson was involved in the design of the Australian embassies in Beijing and Tokyo. He is the Chief Architect for the Sydney Opera House and is also currently working on projects including the Australian War Memorial, the Hilton Hotel and the Asian Wing of the Art Gallery of New South Wales. He also serves on the Board of the Australian Technology Park and the Australian Architects Association. Mr Johnson has a Bachelor of Architecture (1st Class Honours) from the University of NSW and a Master of Philosophy (Town Planning) from University College, London. In 1976 he was made a Member of the Order of the British Empire for services to Architecture.

Ms Samantha Mostyn BA LLB Term of appointment 18/02/09 to 16/01/11

Sam Mostyn has an extensive background in business, management, law and sustainability. She recently left Insurance Australia Group (IAG) after six years as Group Executive, Culture & Reputation, a role in which she was responsible for Human Resources, Organisational Effectiveness, Corporate & Government Affairs and Corporate Sustainability functions. Prior to joining IAG in 2002, Sam held senior executive roles at Optus and spent two years in London as Group Director, Human Resources for Cable and Wireless plc. She serves on the Boards of the Sydney Theatre Company, the Australian Museum Reconciliation Australia, Australian Volunteers International and the AFL. She also serves on the NSW and QLD Climate Change Councils and Chairs the Advisory Council of CSIRO’s Climate Adaptation Flagship Project. 2010-2011 Annual Report

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Mr Warren Mundine CEO & Company Secretary - NTSCORP Limited Term of appointment 23/01/07 to 16/01/11

Warren Mundine is the CEO of NTSCORP Ltd and an advocate for empowering Indigenous people to break the poverty cycle and build a strong Indigenous economy. A Doctor of the University (honoris causa) (Southern Cross University), Mr Mundine is a member of the Australian Institute of Management and the Australian Institute of Company Directors. He is also Chairman of the Australian Indigenous Chamber of Commerce and Chair of NSW Labor’s Indigenous Policy Committee. He is an Executive Member of the National Native Title Council; a Director of the Australian Indigenous Education Foundation; a member of Southern Cross University Foundation; a Board member of NAISDA Limited; and Ambassador for the Song Room and Indigenous Ambassador for the Australian Football Federation. Warren has been appointed by the Prime Minister to the Australian Government’s National Policy Commission - Indigenous Housing Committee. Mr Mundine has been involved in the development of the Australian Employment Covenant (AEC) as an executive of the steering committee and has had considerable involvement in local government.

Ms Ann Weldon Term of appointment 18/02/09 to 16/01/11

Ann Weldon is a proud member of the Wiradjuri Nation and was one of the founding members of the NSW Aboriginal Children’s Service and Inner West Aboriginal Community Company to name just two. For the past 35 years, Ann has held executive positions and was a member of a number of committees including the Metropolitan Local Aboriginal Land Council, Marrickville Aboriginal Consultative Committee and Aboriginal Legal Service. She was elected to the Sydney ATSIC Regional Council for three consecutive terms as Councillor and as the Chairperson and Deputy Chairperson. Ann was appointed to the inaugural NSW Aboriginal Housing Board in 1998 as an ATSIC nominee and was then appointed the first female Chairperson of the NSW Housing Board from 2000-2007. Ann is also a Board Member of the Australian Technology Park.

Ms Lucy Hughes Turnbull AO LLB MBA Term of appointment 18/02/09 to 16/01/11 - Reappointed 16/01/11

Lucy Hughes Turnbull AO is a Director of the Board of Melbourne IT, an Australian publicly- listed company with operations in North America, Europe and Asia. She is also a Board Member of the Australian Technology Park, the Centre for Independent Studies, the Redfern Foundation Limited, the Turnbull Foundation and the NSW Cancer Institute. Lucy was Sydney’s first female Lord Mayor (2003-2004) andDeputy Lord Mayor (1999-2003). She served as a Councillor on the City of Sydney from 1999-2004 and chaired many council committees. Lucy has also been active in the not for profit sector and is currently Chair of the Salvation Army’s City of Sydney Red Shield Appeal and Deputy Chair of the Committee for Sydney.

John Mulally BA LLB (Hons) Term of appointment 23/01/08 to 16/01/11

John is a lawyer specialising in major property and infrastructure projects. He has acted for major Australian and off-shore developers and investors, Australian and State Government instrumentalities and off-shore Governments. This has included the acquisition, development and sale of major projects in all capital cities of Australia as well as in Vanuatu, Jakarta, Bangkok, Singapore, Tokyo, London, Paris, St Petersburg, Kiev, Moscow and New York. He has also advised on major energy projects in Australia and off-shore including infrastructure and renewable energy projects in China and Africa. John is also a Board Member of the Australian Technology Park. Redfern-Waterloo Authority

Board Members Continued

16 Shane Phillips Appointed 16/01/11

Shane Phillips is an outstanding community leader and respected spokesperson for Aboriginal Australians with cultural connections to the Bundjalung, Wonnarua, and Eora peoples. Prior to his appointment as CEO of the Tribal Warrior Association, Shane’s career included roles working in child protection, juvenile justice and the law. He has also worked as a community liaison officer with the Royal Commission into Aboriginal Deaths in Custody and established the Redfern Aboriginal Corporation (RAC). Shane’s community service achievements were recognised in 2008 when he was an invited participant in Prime Minister Rudd’s 2020 Summit and shared his vision in the “Options for the Future of Indigenous Australia” stream. He has been a spokesperson for the Aboriginal Rights Coalition, a Life Member and Coach of the Redfern All Blacks Under 19’s rugby league team, a Member of the National Indigenous Chamber of Commerce, the Gilbert & Tobin Reconciliation Planning Team, the National Aboriginal Alliance, and the Quarantine Station Community Committee, and is a founding Director of the Australian Indigenous Chamber of Commerce.

CEO - Mr Roy Wakelin-King AM BPS (UNE) GDP Bus (UTS)

Roy Wakelin-King was appointed the Chief Executive Officer of the Sydney Metropolitan Development Authority in December 2010. Roy is also Chief Executive Officer of the Redfern-Waterloo Authority and Managing Director of Australian Technology Park, a position he has held since 16 February 2009. Roy was also CEO of the World Youth Day Coordination Authority which coordinated the delivery of Government services for the highly successful World Youth Day 2008. Roy has been an Executive Director within the NSW Ministry of Transport in the position of Director- Transport Operations Division. Roy has extensive experience in both operations and project leadership, particularly in the fields of transport and logistics. His experience includes a short Army career as a commissioned officer followed by a series of senior project and operational appointments within the NSW Government.

MINISTERIAL ADVISORY COMMITTEES

Invited residents of Redfern, Waterloo, Eveleigh and Darlington are also amongst members of three Ministerial Advisory Committees established to advise on matters relating to the development and implementation of the RWA’s Built Environment, Human Services and Employment and Enterprise Plans. These committees also include representatives from Federal, State and Local Government and the area’s Indigenous communities.

DISCLOSURES

The RWA has no related party disclosures to declare.

RWA BOARD ATTENDANCE FYR 10/11

Directors Board Meetings Directors Board Meetings A1 B2 A1 B2

July - December 2010 January - June 2011

Colin Gellatly AO 3 3 Colin Gellatly AO 5 5 Roy Wakelin-King AM 3 3 Roy Wakelin-King AM 5 5 Richard Johnson 2 3 Lucy Turnbull AO 5 5 Lucy Turnbull AO 3 3 Shane Phillips 3 5 Warren Mundine 3 3 John Mulally 1 3

Michael Collins 2 3 1 Number of meetings attended Sam Mostyn 1 3 Ann Weldon 1 3 2 Number of meetings held 2010-2011 Annual Report

Redfern-Waterloo Plan

17 Significant improvements to the local community have been delivered by the RWA through the implementation of the Redfern-Waterloo Plan.

The three-part plan is a whole of Government strategy for urban renewal, improved human services and job creation and comprises the following:

• Built Environment Plan (BEP): Identifies and develops sites within the area for commercial, residential and community uses;

• Human Services Plan (HSP): Delivers better coordination of health, youth and social services between non-Government and Government organisations in the area; and

• Employment and Enterprise Plan (EEP): Creates business development and job opportunities in Redfern, focusing on the Indigenous community and local enterprise. Redfern-Waterloo Authority

Built Environment Plan

18 The Built Environment Plan Stage 1 released in August 2006 established a framework for the social and economic renewal of the Redfern-Waterloo area and has resulted in over $300m of investment and the creation of new employment opportunities through the following developments:

• The $123 (+) million Channel 7 office and • The establishment of the Redfern-Waterloo studio complex at Australian Technology Heritage Taskforce and Interpretation Plan in Park which opened in January 2010; late 2009 to enhance the understanding of the extent of local heritage in Redfern-Waterloo • The $53 million National Centre of Indigenous and its significance to residents, workers and Excellence which opened in February 2010; visitors. The Taskforce works on a project basis • The establishment of the $10 million Redfern and includes two Indigenous representatives; Community Health Centre at Redfern Street on • The impending redevelopment of the former Rachel the site of the former Redfern Court House and Forster Hospital into a new private residential Police Station which opened in April 2010; complex, following approval of a Concept Plan; and • The establishment of affordable housing initiatives • Enabling the Aboriginal Housing Company (AHC) including the Affordable Housing Agreement with to commence the process of the redevelopment Frasers Property from the development of the of the Block, known as the Pemulwuy Project. former Carlton United Breweries site in Chippendale. The Agreement will generate around $32 million in affordable housing funds over the next five years which will fund the provision of affordable Redfern Town Centre urban design principles housing within the Redfern-Waterloo Area; • The approval of a Concept Plan for the future Following the exhibition of the Redfern development of the North Eveleigh site; Centre Urban Design Guidelines in 2010, the draft Design Guidelines are being finalised • The $47 million NICTA Building at and have been endorsed by the Minister Australian Technology Park; for Planning and Infrastructure, Minister • The redevelopment of the Redfern RSL Club and assisting the Premier on Infrastructure. Gibbons Street car park into a mixed used modern residential, retail and commercial complex; The draft guidelines can be downloaded from the Redfern-Waterloo Authority Website: • The development of the Draft Built Environment www.redfernwaterloo.nsw.gov.au Plan Stage 2 (BEP 2) in close consultation with Housing NSW to support the renewal of Housing NSW sites in the Redfern and Waterloo area including South Eveleigh over a 20-25 year timeframe with a mix of social, private and affordable housing. This plan, once finalised, will result in the delivery of approximately 3,500 new dwellings and an additional 700 affordable housing units; 2010-2011 Annual Report

19 DRAFT BUILT ENVIRONMENT PLAN STAGE 2

In partnership with Housing NSW, the RWA released • Meet the needs of a growing Sydney as the Draft Built Environment Plan Stage 2 (BEP 2) for outlined in the Metropolitan Plan; community feedback in January 2011. The Plan was • Create high quality residential development publicly exhibited from 27 January to 28 February and surrounding space; 2011. The Draft BEP 2 is a proposed planning framework supporting the renewal of Housing NSW • Promote environmental sustainability; sites in the Redfern and Waterloo area including South • Achieve an enhanced public domain; Eveleigh over a 20-25 year timeframe. The Draft BEP 2 could potentially see 3,500 additional dwellings in • Provide a sound urban design and Redfern-Waterloo and will also result in improvements planning framework; and to current housing, parks and open spaces, community • Help provide additional social infrastructure facilities and shops with a mix of housing. to support the community.

The aim is to create a socially sustainable The planning framework outlined community through a mix of 60% private in the Draft BEP 2 includes: and affordable dwellings and 40% social housing. There is also proposed provision • Urban design guiding principles; of 700 affordable housing dwellings. • Land use zones; Work has also commenced on the Housing NSW • Draft building height controls; Preliminary Master Plan which will test building • Draft floor space ratio controls; form and land use mix and provide the framework for the improvement of public areas, the provision • Preliminary public domain strategy; of community facilities and incorporation of • Design excellence provision; and environment initiatives. The preliminary Master Plan will also set out proposed staging for renewal - which • Preliminary transport and movement strategy areas will be developed first and in what order. The key objectives of the Draft BEP An independent specialist consultancy firm was 2 planning framework are to: engaged to review and collate all feedback received • Create a more sustainable community within on draft BEP 2. A Stakeholder Engagement Redfern and Waterloo social housing sites; Report was released by the RWA in July 2011. Feedback was constructive and the SMDA will • Recognise the importance of social housing review feedback and undertake further work in contributing to a diverse community; prior to further community engagement. Redfern-Waterloo Authority

Built Environment Plan Continued

20 DEVELOPMENT ASSESSMENT

During the 2010-2011 financial year, there were twenty-one (21) development applications and one (1) S96 application determined, with a value of $4,856,048. The average processing time was 90 days (gross), largely affected by a development application for 1 Lawson Square, Redfern, which involved complications related to a Fire Safety Order. Excluding this development application, the average processing time was 60 days. It should be noted these days are gross days and have not been reduced by “stop the clock” days (which would exclude the first two days of processing and the time applicants take to provide requested additional information).

DA No. Address Applicant DA Description Value $ Status

DA Biomedical Building, Bandwidth Installation of new exhaust fan 95,000 Consent granted 080-04-11 1 Central Av, ATP, Eveleigh Foundry and chiller unit on the roof of 04 May 2011 International Ltd the Biomedical Building DA Clothing Store, 231 Wilson Pronto Temporary use of the Former 2,500 Consent granted 079-04-11 St, North Eveleigh Productions Clothing Store for a fashion 02 May 2011 event on 3 May 2011 DA ATP-7, 8 Central Av, Department Installation of a small satellite dish 10,000 Consent granted 078-04-11 ATP, Eveleigh of Education on the roof of the ATP-7 Building 04 May 2011 & Training DA Area bounded by UB Razor Use of the area bounded by Eveleigh, 150,000 Consent granted 076-03-11 Eveleigh, Vine Louis & Pty Ltd Vine, Louis and Caroline Streets, 22 March 2011 Caroline Sts, Redfern Redfern for temporary filming between April and late July 2011 & associated construction of production set DA Clothing Store, 231 Wilson South Sydney Use of Former Clothing Store Building Nil Consent granted 075-02-11 St, North Eveleigh Youth services for counselling support services, 07 March 2011 art workshops and exhibitions DA Biomedical Building, The University Internal fit out of Suites 101 & 301 with 2,794,306 Consent granted 074-02-11 1 Central Av, ATP, Eveleigh of Sydney teaching and laboratory spaces and 23 March 2011 the installation of five (5) new flues on the roof of the Biomedical Building DA Off Central Av, ATPPML Construction of new Gardener’s Shed 290,000 Application was 073-12-10 ATP, Eveleigh and associated landscaping works withdrawn on 13 on land located between the Central April 2011 Av roundabout and Henderson Rd DA 13 Garden St, ATPPML Installation of solar power system on 450,000 Consent granted 16 072-11-10 ATP, Eveleigh the roof of the NICTA Building with February 2011 peak capacity of up to 69 kilowatts. DA 25 Garden St, Roads & Traffic Installation of new signage to 20,155 Consent granted 071-11-10 ATP, Eveleigh Authority replace existing signage on 25 December 10 the external walls of the RTA Transport Management Centre. DA ATP-7, 8 Central Av, PABS Pty Ltd Extension of trading hours of Sette Nil Consent granted 24 070-12-10 ATP, Eveleigh Espresso Eatery Bar located on the February 2011 ground floor of the ATP-7 Building DA 1 Lawson Sq, Redfern Group Colleges Demolish wall between existing plaza 11,087 Consent granted 069-11-10 Australia ramp and Tower 1 and install steps 15 December 10 from plaza level to lower level. DA 245 Wilson St Performance Temporary installation of an outdoor Nil Consent granted 068-09-10 North Eveleigh Space Ltd art/video exhibition adjacent to 02 November 10 the Carriage Workshop building, for presentation from 8:00pm- 11:30pm, 04-14 Nov 2010 2010-2011 Annual Report

21

DA No. Address Applicant DA Description Value $ Status

DA 152 Abercrombie St, Anthony Yuen Modification of ground level shopfront, 30,000 Consent granted 067-09-10 Redfern construction of internal mezzanine 10 November 10 floor and alterations associated with use for a home office DA 1 Lawson Sq Redfern Lawson Square Subdivision of 1 Lawson Square, Nil Consent granted 066-08-10 Pty Ltd Redfern, being Lot 18 Section C in 15 November 10 DP7328, to create two allotments DA Bay 15 Locomotive ATP Precinct Internal fit out to existing office 380,000 Consent granted 065-08-10 Workshop, ATP, Eveleigh Management suites within Level 3 Bay 15 of 29 October 10 the Locomotive Workshop DA Shop 1, Voltronics Fit out including façade works and 55,000 Consent granted 064-07-10 70 Regent St, Redfern Pty Ltd signage, for the use of the ground floor 31 May 2011 (Amended) premises as an ‘art bar’, operating from 12pm to midnight Monday to Saturday and 12pm to 10pm Sunday. DA ATP-7 Building, PABS Pty Ltd Temporary café on the ground 15,000 Consent granted 063-07-10 8 Central Av, ATP, Eveleigh floor of the ATP-7 Building 27 August 10

DA ATP-7 Building, Turner Hughes Installation of 4 a/c condenser 10,000 Consent granted 062-07-10 8 Central Av, ATP, Eveleigh Architects units on lower podium at Level 13 August 10 Pty Ltd 5 of the ATP-7 Building DA 112 Lawson St, Redfern Elias Ibrahim Change of use from shop to dwelling 18,000 Consent granted 061-07-10 & associated building works 12 August 10

DA ATP-7 Building, Global Modification of 1 previously approved 150,000 Consent granted 060-06-10 8 Central Av, ATP, Eveleigh Television identification sign on the south side, 27 August 10 the addition of 3 new identification signs on the north side and the removal of 1 previously approved sign on the west side of the ATP-7 Building DA ATP-7 Building, PABS Pty Ltd Café fitout, signage & outdoor 350,000 Consent granted 059-05-10 8 Central Av, ATP, Eveleigh seating on the ground floor 07 July 10 of the ATP-7 Building DA Level 10, Tower 2, Group Colleges Change of use from commercial 25,000 Deferred Commencement 045-06-09 1 Lawson Sq, Redfern Australia office to educational use Consent granted Draft assessment report and associated fitout. 24 June 11 prepared. Awaiting details of BCA upgrade undertaken for building. MOD ATP-7 Building, SDH & Modification to approved DA for NA Consent granted 040-12- 8 Central Av, Associates installation of satellite dishes 27 August 10 08 (01) ATP, Eveleigh Pty Ltd MOD Garden St, ATPPML Extend use of Temporary Nil Application was 011-09- ATP, Eveleigh Gardener’s Compound withdrawn on 13 06 (02) April 2011 Redfern-Waterloo Authority

Built Environment Plan Continued

22 THE REDFERN-WATERLOO HERITAGE TASKFORCE & EVELEIGH STEERING COMMITTEE

The Redfern-Waterloo Heritage Taskforce A number of successful heritage projects have (RWHT) was established in 2009 to identify been overseen by the RWHT and ESC, including opportunities for the conservation, interpretation the development of the D’harawal Calendar and, where appropriate, adaptive reuse Mural Project at Alexandria Park Community of the cultural, natural and archeological School and the establishment of the Eveleigh heritage of the Redfern-Waterloo area. and International Railway Film Festival.

Meanwhile, the Eveleigh Steering Committee The conservation of Bays 1 and 2, the refurbishment (ESC) was set up in recognition of the significant of the Pump Room, the upgrade of the water tower cultural and social significance of the former and other works at the former Workshop at ATP are Eveleigh Locomotive Workshop specifically among the heritage works invested in by the RWA. and comprises a broad range of community representatives as well as representatives of Australian Technology Park (ATP) and the RWA. The Taskforce and ESC The Taskforce and ESC seek to increase community awareness, understanding, appreciation and seek to increase community enjoyment of existing heritage and stimulate greater awareness, understanding, community involvement in conservation efforts. appreciation and enjoyment of existing heritage and stimulate greater community involvement in conservation efforts.

Heritage Taskforce Members

• Office of Rail Heritage - Sarah Jane Brazil • Housing NSW - Anthony Mitchell • Heritage Branch, Department of Planning - Rajeev Maini

• Community - Geoff Turnbull • Community - Mary Lynne Pidcock

• City of Sydney - Anthony Smith • City of Sydney - David Beaumont

• Independent Heritage Advisor - Peter Phillips • Tourism NSW - Elisbeth Allen • NSW Government Architects Office - Dillion Kombumerri

• RWA - Roy Wakelin-King AM • RWA - Juliet Suich 2010-2011 Annual Report

23 FORMER EVELEIGH RAILWAY WORKSHOPS INTERPRETATION PLAN

3D Projects in association with Artscape and • Ensure interpretive devices and their content Only Human were engaged by the RWA in have the potential to engage and provoke public 2010 to prepare an Interpretation Plan for interest, are accessible, sustainable (in relation to the former Eveleigh Rail Yards Precinct. maintenance, evaluation and review) reversible (in relation to heritage fabric) and compatible The specific aims of the Plan are to: with the sites for which they are chosen

• Guide and facilitate interpretation of As part of the preparation of the Interpretation Plan, the site’s heritage significance as a a community consultation Field Day was held on conservation process designed to sustain 30 October 2010 at Innovation Plaza, Australian the site’s authenticity and character; Technology Park. The Draft Interpretation Plan was completed in February 2011 and publicly • Identify existing audiences and visitor experiences exhibited from 9 March to 6 April 2011. on the Eveleigh site, including workers, neighbours resident in the district, railway tourists and school groups as well as quantify opportunities to enhance visitor numbers and experiences in each of these categories; • Achieve enhanced public understanding of the history of the area and its significance to residents, workers and visitors by fostering active links with the community, as well as with tourism, education and recreation activities; and

Built Environment Ministerial Advisory Committee

• NSW Department of State • Community - Alex Kibble & Regional Development - Reg Fisk • Community - Geoff Turnbull • Housing NSW - Kathy Roil • Community - Norah McGuire • NSW Roads & Traffic Authority - Peter Collins • Community - Steve Tamas • NSW Department of Planning - Josephine Wing • Community - Denny Powell • Railcorp - Ivan Glavinic • Community - Mary Lynne Pidcock • City of Sydney - Andrew Thomas • RWA - Roy Wakelin-King AM (Chair) • RWA - Joanne McGuiness • RWA - Jason Perica • RWA - Julie Parsons (Secretariat) Redfern-Waterloo Authority

Human Services Plan

24 The RWA’s Human Services Plan was developed in two phases. Phase 1 focused on improving services to children and families, Aboriginal people and young people and was endorsed by NSW Government in December 2005. Phase 2 centred on enhanced services for older people, people with disabilities, migrant communities and the homeless and was endorsed by NSW Government in May 2008.

The implementation of both phases of the Human • On 21 September 2010 the RWA provided $500,000 Services Plan have been overseen by the RWA in to the National Centre for Indigenous Excellence to collaboration with government and non-government assist in increasing services for all young people in agencies and these partnerships continued this work the area and in particular to provide career pathways in 2010/11. for Aboriginal people across all levels of the centres operations; Key outcomes of the Human Services Plan in 2010/11: • The Redfern-Waterloo Family Violence Taskforce held a forum focussing on improving service access • The RWA established the Case Coordination for culturally and linguistically diverse (CALD) women Project in 2006 which is a process whereby who are victims of domestic violence in October 2010; government and non-government human services agencies work together to plan and implement • The December 2010 Eveleigh Market Christmas appropriate interventions and strategies to address Banner Competition for local schools and youth the needs of at risk children and young people in services was won by Alexandria Park Community the area. This project is being extended and has School and the People’s Choice Award went to received funding from the Australian Government Darlington Primary School; to provide case coordination support to a Post Release Pilot Project to integrate Aboriginal • The Redfern Community Drug Action Team people who have been released from prison (CDAT) hosted the “A night off the Grog” Forum at back into the Redfern-Waterloo community; on 15 March 2011 to provide the opportunity for residents and service providers to have a say on the affects of alcohol on the local Redfern-Waterloo community and what can be done to improve the current issues;

• The RWA assisted Weave (formerly South Sydney Youth Services) to establish the Weave Arts Centre at North Eveleigh in May 2011 which is a social enterprise program that provides an area to produce art and to exhibit and sell work to create an income for people who are marginalised or experiencing a range of issues related to mental health, drug or alcohol issues, social exclusion, unemployment or domestic violence;

• The RWA in conjunction with The Factory Community Centre submitted a successful application for funding of $138,000 for an Outreach Worker Project to reduce anti- social behaviour and criminal activity by activating the spaces where this occurs, through community events and activities and engagement with street drinkers in the area throughout Redfern and Waterloo; and

• The RWA provided $35,892 in local community grants to help develop community capacity and to support events and services that enhance local human services. 2010-2011 Annual Report

25 ‘WATERLOO GREEN’ NEIGHBOURHOOD PROJECT

Security for residents of the six high-rise buildings The three-year pilot project is part of a broader in ‘Waterloo Green’ increased in the latter part of renewal project in which Housing NSW has 2010 with the implementation of a Neighbourhood partnered with other agencies including the Link service in each of the buildings as part of the RWA to improve the lives of public housing $12m Waterloo Green Neighbourhood Project. residents in Redfern and Waterloo, particularly the elderly and those living on their own. The The Neighbourhood Link service includes a foyer project was modelled on similar programs installation which provides information about local run in Melbourne and New York which have services and community activities. These installations successfully reduced vandalism and anti-social are also a control point for visitors and contractors behaviour in public housing developments. wishing to enter the building and operate 24 hours a day with either Neighbourhood Link staff or security personnel. New CCTV cameras with 24/7 monitoring, internal security doors for control of access to lifts and common areas and an improved photo identification system are also in place along with the provision for routine maintenance by tenants in partnership with the maintenance contractor for the area.

Human Services Ministerial Advisory Committee

• NSW Department of Community • Community - Alison Peters Services - Kerri Scott/Peter Christie • Community - Mabel Chang • Housing NSW - Meghan Hibbert • Community - Michael Shreenan • NSW Police - Luke Freudenstein • Community - Robert Perry • NSW Department of Education • Community - Albert Torrens - Phil Lambert/Paul Parks • Community - Brad Freeburn • NSW Department of Health - Greg Stewart • Community - John Hutchinson • City of Sydney - Ian Hay • Community - Ross Smith • NSW Dept Ageing, Disability and Home Care - Steven Gal • RWA - Roy Wakelin-King AM (Chair) • Indigenous Coordination Centre - Sally Gibson • RWA - Julie Parsons (Secretariat) • Ministry of Transport - Caroline Mason • RWA - Jennifer Huxley Redfern-Waterloo Authority

Employment & Enterprise Plan

26 The Employment & Enterprise Plan was published in May 2006 and was the first comprehensive training and employment strategy for the Redfern-Waterloo area.

Its main aim is to deliver skilled job seekers Key outcomes of the Employment & to meet the specific employment needs of the Enterprise Plan to date include: market, to create educational opportunities and build on future growth potential. • Since opening in 2006, a total of 153 students have graduated with a Certificate The Plan focuses on: II in Hospitality (Operations). Twenty five of these students graduated in 2010/11; • Increasing supply of employment opportunities, particularly through commercial • The establishment of the Koori Job Ready and residential development; Course in Darlington to train Indigenous people in construction skills. Since 2008, 122 Indigenous • Capitalising on the Research/ people have graduated from the course with Biomedical Innovation Zone; 70 of those gaining employment in construction • Improving education and training including and other industries and another five going on a dedicated vocational training centre; to further study. Forty five Aboriginal people graduated from the courses run in 2010/11; • Strengthening partnerships with local employers; • The creation of the Aboriginal Employment Model • Industry based employment strategies; which brokered 184 employment opportunities in • Employment and enterprise strategies for 2010/11 for Aboriginal people in the construction Aboriginal people and youth; and industry on Local, State and Federal Government projects and private sector contracts; • Supporting local business. • The Eveleigh Farmers’ and Artisan’s Market continued to go from strength to strength with 194,932 people shopping at over 4,200 stalls during 2010/11; and • The collaboration with City of Sydney Council, South Sydney Rabbitohs, REDWatch and the South Sydney Business Chamber for the Roll Up Redfern campaign, encouraging local business to roll up shutter doors and improve the commercial landscape in the Redfern-Waterloo town centre. This group has also developed a Redfern brand to help change some of the negative perceptions of the Redfern-Waterloo area. The brand was launched on 5 February 2011. 2010-2011 Annual Report

27 ABORIGINAL EMPLOYMENT PROGRAM

More than 850 employment opportunities have been The Aborginal Employment Program has been created for local Indigenous persons since 2006 with adopted by other NSW Government Agencies, the assistance of the Redfern-Waterloo Authority’s private companies and the State Government which Aboriginal Employment Program. This includes the used it to achieve Aboriginal employment outcomes groundbreaking Koori Job Ready Construction Course on local construction projects including Channel and the Yaama Dhiyaan Hospitality Training College. 7 and the Redfern Community Health Centre.

Yaama Dhiyaan continues to train students in On 7 May 2011, Yaama Dhiyaan catered for at a hospitality, while the Koori Job Ready Course has gala event celebrating 20 years and 500 editions successfully brokered employment opportunities with of the Koori Mail. This event was a milestone in large construction companies such as Watpac, Abi Yaama Dhiyaan’s history as 37 Aboriginal people Group, Multiplex, UTS and Barangaroo. Most recently, worked on this event including head chef, floor a number of positions were filled by graduates at managers, head waiters, kitchen staff and waiters. the Central Park development - an exciting new six The Koori Mail is Australia’s only 100 percent hectare, mixed use urban village located at Broadway. Indigenous community-owned and operated fortnightly newspaper. Over 500 people attended the gala event and this represented the largest number of Aboriginal people catered for since colonisation.

Meanwhile, Aunty Beryl Van-Oploo, one of the training centres hospitality teachers was recognised with an Education and Long Life Learning Award at the NSW Seniors Week Achievement Awards in March 2011. Since the RWA hospitality training college opened in October 2006, Aunty Beryl has trained and helped find employment for more than 160 students.

Employment and Enterprise Ministerial Advisory Commitee

• NSW Department of Education • Community - Mary Lynne Pidcock - Phil Lambert • Community - Michael Dalah • NSW Department of State & Regional • Community - Millie Ingram Development - Bernadette Selfe • Community - Siobhan Bryson • NSW TAFE - Alison Wood • Community - Les Tobler • NSW Department of Aboriginal Affairs - Mangala Srinivasan • RWA - Roy Wakelin-King AM (Chair) • Dept of Education, Employment and Workplace • RWA - Denny Hall Relations - Sharron Hawkins • RWA - Julie Parsons (Secretariat) • City of Sydney - Jan Campbell Redfern-Waterloo Authority

A Community United Through Sport

28 RWA, the Australian Technology NRL players including Chris McQueen, James Roberts and Nathan Peats were there to support Park (ATP), South Sydney more than 200 junior players competing in Rabbitohs and the NSWRL heritage-based sides including Indigenous, Maori, Samoan, Fijian and Middle Eastern. joined forces to showcase The NSW Maoris won the grand final against Rugby League and the way the the Middle Eastern team and there was plenty game can bring harmony to of entertainment off the field too with the teams entertaining the crowd with traditional ‘war’ dances the community on Saturday 7 and cultural performances. There were also May 2011 with the U17’s ATP some inspiring local performers from Redfern’s Got Talent, food stalls representing various Redfern Nines Competition at cultures and a jumping castle for the kids. Redfern and Waterloo Ovals. General Manager, John Hutchinson said: “The ATP Redfern Nines is a great concept because it gives kids who aren’t involved in junior rep teams an opportunity to play at a representative level.”

The event was hugely successful and many of the teams from Sydney’s western suburbs commented on the positive changes in Redfern. This will be an annual event to continue to promote cultural diversity and social inclusion and is anticipated to be held during Harmony Week in 2012.

“The ATP Redfern Nines is a great concept because it gives kids who aren’t involved in junior rep teams an opportunity to play at a representative level.” Souths Cares General Manager, John Hutchinson 2010-2011 Annual Report

Open For Business

Roll Up Redfern is an exciting The group consists of the RWA, the City of Sydney, 29 South Sydney Business Chamber, REDWatch and community partnership the South Sydney Rabbitohs and has been working promoting the Redfern-Waterloo collaboratively on business and community development issues in the region. area as a vibrant destination in A workshop with the local community was held in May which to live, work and play. 2010 and the group has since been consulting with residents, community groups and local businesses to identify and celebrate the key strengths of the Redfern- Waterloo area and how best to promote those strengths to the rest of Sydney.

One of the first initiatives was the introduction of a grants program to encourage retailers and businesses to remove the roller shutters from shop fronts along main streets throughout Redfern-Waterloo. The aim was to make the commercial streetscape more attractive, enhance the sense of safety and economic activity and advertise to the wider community that Redfern is “open for business”. It also helps build a strong community spirit and support new and existing businesses and The removal of the roller local residents. The removal of the roller shutters complements other initiatives such as the widening of shutters complements footpaths and the concealment of power lines. other initiatives such as Another Roll Up Redfern initiative was the launch of a the widening of footpaths new Redfern “brand”. Officially unveiled in February and the concealment of 2011, it creates a unique identity for the region and is power lines. designed to help shape Redfern’s future through the promotion of sporting and cultural activities as well as business and employment opportunities. Redfern-Waterloo Authority

Sponsorships/Grants provided by the Redfern-Waterloo Authority

30 The RWA sponsored and provided funding throughout the year to community projects, local sporting organisations and Indigenous enterprises. Following is a list of contributions by the RWA for the Financial Year commencing 1st July 2010.

Organisation Grant Date Purpose Alignment with RWA Plan Approved $ Approved

Inner City NAIDOC $2,000 28/6/10 Assistance with NAIDO Priority 6 “Increase participation of young Working Party meeting events 2010 people in the community” Priority 10 “Build community capacity”

Alexandria Rovers $480 28/6/10 Purchase of junior tackle bags Priority 6 “Increase participation of young Football Club people in the community” Priority 10 “Build community capacity”

Benjamin Andrew $2,000 12/07/10 Assist with costs for the Benjamin Priority 2 “Lift local school numeracy and literacy Footpath Library Andrew Footpath Library event levels to at least the state level” and Priority 10 Book Week Event on 20 August, 2010 at the NCIE “Build community capacity”

Waterloo Storm $2,338 12/07/10 Purchase of equipment to Priority 6 “Increase participation of young Rugby League Club participate in the 2010 Koori people in the community” Knockout Priority 10 “Build community capacity”

Redfern Red Sox $1,000 12/07/10 Provision of BBQ for 200 people Priority 6 “Increase participation of young Baseball Team Gala by Yaama Dhiyaan people in the community” Day Priority 10 “Build community capacity”

Wunanbiri Aboriginal $1,300 09/08/10 To pay for Yaama Dhiyaan to Priority 6 “Increase participation of young Pre-School provide catering for the Mini-Deb people in the community” fundraising ball for 400 people Priority 10 “Build community capacity”

National Aboriginal $2,500 12/07/10 Assistance for Koori Night Priority 10 “Build community capacity” Skills Development to be able to offer local Association Aboriginal people free tickets to performance at CarriageWorks on 25 November 2010

Connect Redfern $2,000 19/08/10 Support to enable five children Priority 6 “Increase participation of young from the Redfern-Waterloo area people in the community” to attend October school holiday Priority 10 “Build community capacity”

Redfern All Blacks $2,500 17/08/10 To assist them to participate in Priority 10 “Build community capacity” Rugby League the 2010 Koori Knockout

Jake Bell Memorial $1,715 18/08/09 To assist them to participate in Priority 10 “Build community capacity” Team the 2010 Koori Knockout

Wiradjuri Warriors $1,500 30/08/09 To assist them to participate in Priority 10 “Build community capacity” the 2010 Koori Knockout

Redfern All Blacks $1,350 8/09/09 Purchase of equipment to Priority 6 “Increase participation of young Women’s Rugby participate in 2010 Koori people in the community” League Knockout Priority 10 “Build community capacity”

The Factory $300 18/09/09 Assistance for catering for Priority 10 “Build community capacity” Community Centre community lunch to celebrate the Asian Moon Festival

The Factory $300 18/09/09 Assistance for catering for Priority 10 “Build community capacity” Community Centre community lunch to celebrate the 13th Anniversary Cook Community Gardens

South Sydney PCYC $190 13/09/10 Assistance for catering for Three Priority 6 “Increase participation of young on Three Basketball Event during people in the community” the October school holidays Priority 10 “Build community capacity”

South Sydney Herald $1,000 28/10/10 Assistance with catering costs Priority 10 “Build community capacity” for the South Sydney Herald Christmas Lunch for volunteers 2010-2011 Annual Report

31

Organisation Grant Date Purpose Alignment with RWA Plan Approved $ Approved

Redfern Fire Station $712.50 10/11/10 Payment for DA costs associated Priority 6 “Increase participation of young with the Redfern Station Mural people in the community” Project Priority 10 “Build community capacity”

Mille Ingram $300 12/11/10 Sponsorship of NCOSS Priority 10 “Build community capacity” Conference registration

Vibe Australia $500 29/11/10 Assistance with catering costs for Priority 6 “Increase participation of young Vibe Three on Three Basketball people in the community” and Hip Hop Challenge Priority 10 “Build community capacity

World AIDS Day $1,100 29/11/10 Sponsorship of four local Priority 10 “Build community capacity” Dinner Aboriginal people to attend World AIDS Day Dinner

The Factory $300 31/01/11 Assistance for catering for Priority 10 “Build community capacity” Community Centre community lunch to celebrate the Chinese New Year Festival

Eunice Grimes $195 24/01/11 Assistance with uniform costs to Priority 10 “Build community capacity participate in the Indigenous All Stars Team

Skateboarding $500 27/01/11 Assistance for SbA National Priority 6 “Increase participation of young Australia SbA Series at Waterloo Park people in the community” National Series Priority 10 “Build community capacity”

Mudgin-Gal $1,000 2/02/11 Assistance for Mudgin-Gal Priority 10 “Build community capacity employees to attend the Australian delegation for the Commission of the Status of Women in New York

The Factory $300 9/02/11 Assistance for catering for Priority 10 “Build community capacity” Community Centre community lunch to celebrate the Chinese New Year Festival

NCIE $712.65 9/03/11 Prizes for Midnight Basketball Priority 6 “Increase participation of young people in the community” Priority 10 “Build community capacity”

Babana Aboriginal $1,500 28/03/11 Assistance for the Coloured Priority 10 “Build community capacity” Men’s Group Digger Project Redfern ANZAC March 2011

The Factory $1,000 25/05/11 Assistance for the Yurungai Priority 6 “Increase participation of young Community Centre Dance Project to attend the 7th people in the community” International Children and Youth Priority 10 “Build community capacity” Theatre Festival

NCIE $2,000 17/06/11 Assistance for NAIDOC Week Priority 6 “Increase participation of young events 2011. people in the community” Priority 10 “Build community capacity”

RedWatch $1,800 7/06/11 Assistance to maintain and Priority 10 “Build community capacity” develop their website

South Sydney Herald $1,000 7/06/11 Assistance with catering costs Priority 10 “Build community capacity” for the South Sydney Herald Christmas Lunch for Volunteers

Total $35,892 Redfern-Waterloo Authority

A Year of Recognition Achievements and Awards for Redfern

32 • The skills of more than 150 individuals, community • Two prominent Redfern identities received an Order groups and organisations within Redfern, Waterloo of Australia in recognition of their contribution to the and surrounding suburbs were nominated in community. Lucy Turnbull AO, Board Member of the recognition of their outstanding contribution Redfern-Waterloo Authority, Australian Technology to the local community at the Community Park and the Sydney Metropolitan Development Participation Volunteer Awards in May 2011. Authority, was honoured as an Officer of the Order of Australia for her contribution to business • Australia’s only 100% Indigenous owned and commitment to charity. Helen Campbell, and operated newspaper, The Koori Mail, Executive Officer for Women’s Legal Services celebrated 20 years and 500 editions at a special NSW and former CEO of Redfern Legal Centre, anniversary celebration on 7 May 2011. received a medal of the Order of Australia for her • The National Centre for Indigenous Excellence service to law and to the community of Redfern. (NCIE) celebrated its first anniversary in April 2011. • The South Sydney Rabbitohs was awarded the Souths • Yaama Dhiyaan’s Aunty Beryl Van-Oploo was Cares Award in recognition of their contribution of more recognised with an Education and Long Life than 1200 hours to the community as part of the Souths Learning Award at the NSW Seniors Week Cares and NRL One Community Programs throughout Achievement Awards in March 2011. 2010. South Sydney player, Nathan Merritt also played his 150th game for Souths in May 2011 and now ranks • The Redfern-Waterloo community was selected as among the top five try scorers in the history of the club. one of 40 priority Aboriginal communities in NSW to be part of the landmark ‘Two Ways Together • Redfern Park and Oval received the Architecture Partnership Community Program’ to improve service Award for Urban Design at the NSW Architecture delivery and outcomes for Aboriginal people. Awards in June 2010 following its successful transformation from a previously underused site into an elegant and accessible community recreation facility. • The 8 Central Avenue building at Australian Technology Park (Media City) was recognised at the API NSW Excellence in Property Awards in October 2010. PTW Architects were awarded the LandMark White Property Development Award in recognition of their design which provides community benefits, innovation in community facility, finance structuring and investment returns.

Yaama Dhiyaan’s Aunty Beryl Van-Oploo was recognised with an Education & Long Life Learning Award at the NSW Seniors Week Achievement Awards in March 2011. 2010-2011 Annual Report

33 The 8 Central Avenue building at Australian Technology Park (Media City) was recognised at the API NSW Excellence in Property Awards in October 2010. PTW Architects were awarded the LandMark White Property Development Award in recognition of their design which provides community benefits, innovation in community facility, finance structuring and investment returns. Redfern-Waterloo Authority

Independent Auditors Report

34 2010-2011 Annual Report

35 Redfern-Waterloo Authority

Internal Audit And Risk Management Statement

36 2010-2011 Annual Report

Statement by Members of the Board

37

Statement by Members of the Board of Redfern-Waterloo Authority on the adoption of the financial statements for the year ended 30 June 2011.

Pursuant to Section 41C (1B) of the Public Finance and Audit Act 1983 and in accordance with a resolution of the members of the Board of the Redfern- Waterloo Authority, we declare that in our opinion:

1. The accompanying financial statements exhibit a true and fair view of the financial position and financial performance of Redfern-Waterloo Authority as at 30 June 2011.

2. The financial statements have been prepared in accordance with the Australian Accounting Standards and Interpretations and the provisions of the Public Finance and Audit Act 1983, the Public Finance and Audit Regulation 2010 and the Treasurer’s Directions; and

3. We are not aware of any circumstances that would render any particulars included in the financial statements to be misleading or inaccurate.

Dr Col Gellatly AO Roy Wakelin-King AM

Chairman Chief Executive Officer Redfern-Waterloo Authority Redfern-Waterloo Authority Redfern-Waterloo Authority

Redfern-Waterloo Authority Financials

38 STATEMENT OF COMPREHENSIVE INCOME For the year ended 30 June 2011

notes Consolidated Consolidated RWA RWA 2011 2010 2011 2010 $’000 $’000 $’000 $’000 Revenue from continuing operations * Restated * Restated Sales and services income 7(a) 20,143 18,794 997 997 Grants and contributions 7(b) 10,620 8,635 10,620 8,635 Other income 7(c) 4,644 3,007 6,220 5,368 Affordable Housing voluntary contributions 7(d) 6,000 6,600 6,000 6,600 Valuation increment 8(c) 3,500 - 3,353 - Total income 44,907 37,036 27,190 21,600

Other Income

Expenditure Employee benefits expenses (4,415) (4,194) (1,041) (616) Personnel services - - (1,249) (2,132) Defined benefit super. fund contributions (93) (5) - - Other expenses 8(a) (14,503) (12,164) (3,107) (2,320) Depreciation and amortisation 16 & 17 (1,121) (1,885) (126) (1,156) Finance costs 8 (b) (3,419) (3,428) (3,419) (3,146) Write off high voltage feeder costs - (1,995) - - Valuation decrement 8 (c) - (18,715) - (18,832) Total expenditure (23,551) (42,386) (8,942) (28,202)

Surplus/(deficit) for the year 21,356 (5,349) 18,248 (6,602)

Other comprehensive income/(deficit) Actuarial loss on defined benefit funds (60) (33) - - Total comprehensive income/(deficit) for the year 21,296 (5,382) 18,248 (6,602)

* Restated: Refer note 31 for details of restatement of balances The above statement should be read in conjunction with the accompanying notes. 2010-2011 Annual Report

39 STATEMENT OF FINANCIAL POSITION As at 30 June 2011

notes Consolidated Consolidated Consolidated RWA RWA RWA 2011 2010 2009 2011 2010 2009 $’000 $’000 $’000 $’000 $’000 $’000 ASSETS *Restated *Restated *Restated *Restated Current assets Cash and cash equivalents 11 57,102 52,283 38,520 27,570 20,062 7,455 Trade and other receivables 12 6,833 682 692 6,617 542 1,005 Loans receivable 13 437 407 378 - - - Total current assets 64,372 53,371 39,590 34,187 20,604 8,460 Non-current assets Investment Property 18 (a) 163,750 158,500 176,825 98,850 94,500 112,185 Property, plant and equipment 16 15,208 13,195 13,649 1,640 1,751 3,010 Other Assets 18 (b) 7,875 9,625 9,625 Loans receivable 13 3,343 3,780 4,186 - - 1 Lease receivables 14 - - - 5,648 5,350 5,068 Other financial assets 15 - - - 59,804 65,241 65,647 Total non-current assets 190,176 185,100 204,285 165,943 166,843 185,911 Total assets 254,549 238,472 243,875 200,130 187,447 194,371 LIABILITIES Current liabilities Trade and other payables 19 4,798 4,701 3,192 951 1,108 1,053 Provisions 20 1,025 895 1,947 - - Borrowings 21 407 407 378 407 407 378 Deferred lease revenue 22 109 109 - - - Total current liabilities 6,339 6,112 5,517 1,358 1,515 1,431 Non current liabilities Provisions 20 257 189 176 - - - Borrowings 21 38,369 43,776 44,182 38,369 43,776 44,182 Deferred lease revenue 22 9,297 9,403 9,625 - - - Total non current liabilities 47,923 53,368 53,983 38,369 43,776 44,182

Total liabilities 54,262 59,480 59,500 39,727 45,291 45,613 Net assets 200,286 178,992 184,375 160,402 142,156 148,758

EQUITY Accumulated funds 23 200,286 178,992 184,375 160,402 142,156 148,758 Contributed equity - - - Total equity 200,286 178,992 184,375 160,402 142,156 148,758

* Restated: Refer note 31 for details of restatement of balances The above statement should be read in conjunction with the accompanying notes. Redfern-Waterloo Authority

Redfern-Waterloo Authority Financials

40 STATEMENT OF CHANGES IN EQUITY For the year ended 30 June 2011

Consolidated Consolidated RWA RWA notes 2011 2010 2011 2010 $’000 $’000 $’000 $’000

Balance of equity at the start of year 180,912 186,940 146,192 152,028 Net effect of a Correction of Error 31 (1,922) (2,565) (4,038) (3,270) Restated balance 178,990 184,375 142,154 148,758 Surplus / (deficit ) for the year 21,356 (5,349) 18,248 (6,602) Other Comprehensive Income Acturial loss on deefined benefit supernation scheme (60) (33) - - Total Comprehensive Income 21,296 (5,382) 18,248 (6,602) Balance of equity at the end of year 200,286 178,993 160,402 142,156

* Restated: Refer note 31 for details of restatement of balances The above statement should be read in conjunction with the accompanying notes. 2010-2011 Annual Report

41 STATEMENT OF CASH FLOWS For the year ended 30 June 2011

Consolidated Consolidated RWA RWA 2011 2010 2011 2010 $’000 $’000 $’000 $’000 inflow/ inflow/ inflow/ inflow/ notes (outflow) (outflow) (outflow) (outflow) Cash flows from operating activities Receipts from customers 23,404 29,139 1,212 8,309 Government grants received 7(b) 10,620 8,635 10,620 8,635 Payments to suppliers and employees (20,728) (20,719) (5,868) (4,719) Interest paid 8(b) (3,419) (3,428) (3,419) (3,146) Interest received 7(c) 3,076 2,049 4,947 3,545 Net cash flows from operating activities 25 (b) 12,953 15,676 7,492 12,624

Cash flows from investing activities

Payments for property, plant and equipment 17 (3,134) (1,536) (14) (46) Net cash flows used in investing activities (3,134) (1,536) (14) (46)

Cash flows from financing activities Non-trade advances from parent entity 407 - - 406 Repayment of borrowings from subsidiary - - 5,437 - Repayment of loan to Tcorp (5,407) - (5,407) - Proceeds/(repayment) of borrowing - (377) - (377) from NSW Treasury Corporation Net cash flows from financing activities (5,000) (377) 30 29

Net increase/(decrease) in cash held 4,819 13,763 7,508 12,607

Cash and cash equivalents at the start of 52,283 38,520 20,062 7,455 the financial year

Cash and cash equivalents at the end of year 57,102 52,283 27,570 20,062

The above statement should be read in conjunction with the accompanying notes. Redfern-Waterloo Authority

Redfern-Waterloo Authority Financials

42 NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2011

1. REPORTING ENTITY 2. BASIS OF PREPARATION

The Redfern-Waterloo Authority (the “Authority”) is a (a) Statement of Compliance Statutory Body constituted by the Redfern Waterloo Authority Act 2004 on 17 January 2005 to promote The Authority’s financial statements are general purpose the development of the Redfern-Waterloo area into financial statements which have been prepared in an active, vibrant, and sustainable community. The accordance with applicable Australian Accounting Authority seeks to promote, support and respect the Standards (which include Australian Accounting Aboriginal community in Redfern-Waterloo and to Interpretations) and the requirements of the Public establish greater social cohesion and community safety Finance and Audit Act 1983 and Regulation, Treasurer’s in the area. Directions, the Redfern Waterloo Authority Act 2004.

The Authority, as a reporting entity, comprises all the (b) Historical cost convention entities under its control including the commercial activities of the Australian Technology Park Sydney These financial statements have been prepared Limited (formally Australian Technology Park Precinct under the historical cost convention, as modified by Management Limited) (the “Company”) and the Office the revaluation of financial assets and liabilities at fair of Redfern-Waterloo Authority (the “Office”). The value through profit or loss, certain classes of property, Company is a wholly-owned subsidiary of the Authority plant and equipment and investment property. and it operates a scientific and technological research (c) Profit status of the Authority and development park. The Authority, through its subsidiary, manages the commercial operations of The Authority has assessed its profit status for the the park which include property management and financial year ended 30 June 2011 and determined its development and the provision of convention and status as not-for-profit for financial reporting purposes. exhibition facilities. The Office provides personnel services to the Authority. (d) Basis of measurement

The activities of the Authority are currently subject to The financial statements have been prepared on NSW Government funding commitments through to 30 the historical cost basis except for the following June 2014/15. On the 23 September 2010, the NSW material items: Government established the Sydney Metropolitan Development Authority (SMDA) under the Growth • Financial instruments at fair value through profit Centres (Development Corporations) Act of 1974 and loss and available for sale are measured at for urban development, which aims to create new fair value sustainable urban centres with additional housing • Investment properties are measured at fair value and commercial projects including land identified as • Property , plant and equipment are measured potential urban renewal precincts. As a result, the at fair value present operations of the Redfern-Waterloo Authority and the Office of the Redfern-Waterloo Authority will • The defined benefit asset is measured as the net be absorbed into SMDA. Plans and relevant legislation total of the plan assets, plus unrecognised past are currently being prepared for the transfer of the service cost and unrecognised actuarial losses, operations to SMDA. less unrecognised actuarial gains and the present value of the defined benefit obligation The Financial statements for the year ended 30 June 2011 has been authorised for issue by the Board on (e) Functional and presentation currency the 25 October, 2011. These financial statements are presented in Australian dollars, which is the Authority’s functional currency.

All amounts are rounded to the nearest one thousand dollars unless otherwise stated. 2010-2011 Annual Report

43 NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2011

(f) Use of estimates and judgements Intercompany transactions, balances and unrealised gains on transactions between entities are eliminated. The preparation of financial statements requires Unrealised losses are also eliminated unless the management to make judgements, estimates and transaction provides evidence of the impairment of the assumptions that affect the application of accounting asset transferred. Accounting policies of subsidiaries have policies and reported amounts to assets, liabilities, been changed where necessary to ensure consistency income and expenses that are not readily apparent with the policies adopted by the parent entity. from other sources. 4. CHANGES IN ACCOUNTING POLICY The estimates and associated assumptions are based on historical experience and other factors that are considered In the current year, the Authority has adopted all of the to be relevant. Estimates and underlying assumptions are new and revised Standards and Interpretations that reviewed on an ongoing basis. Revisions to accounting are relevant to its operations and which are effective estimates are recognised in the period in which the for annual reporting periods beginning on 1 July 2011. estimates are recognised, or in the period in which the As a result, the Authority has changed its accounting estimate is revised if the revision affects only that period, policies and disclosure in relation to the presentation or in the period of the revision and future periods if the of financial statements. revision affects both current and future periods. When the presentation or classification of items in Information about critical judgements in applying the financial statements are amended, comparative accounting policies that have the most significant amounts are reclassified unless the reclassification effect on the amounts recognised in the financial is impracticable. When comparative amounts are statements is included in the following notes: reclassified, the Authority discloses:

• Note 5(c), 5(c)( (iv),5(e)(iii), 5(e)(vi),5(e)(ix) &5(f)(iii) i) the nature of the reclassification; • Note 14 - Finance and operating leases ii) the amount of each item or class of items • Note 16- depreciation and amortisation that is reclassified; and iii) the reason for the reclassification. Information about assumptions and estimations that may result in adjustments in the future financial year is 5. STATEMENT OF SIGNIFICANT included in the following notes: ACCOUNTING POLICIES

• Note 2(b), 5(e)(iii), 5(e)(vi),5(e)(ix) &5(f)(iii) The accounting policies set out below is a summary of • Note 14- Finance and operating leases the significant accounting policies have been applied consistently to all periods presented in these financial • Note 28 - financial instruments statements and have been applied consistently by (g) Potential sale of subsidiary company the Authority except as explained in note 4 which addresses changes in accounting policies. The New South Wales Government’s Mini-Budget 2008-2009 included a proposal to divest the Australian Certain comparative amounts have been reclassified Technology Park Sydney Limited’s assets to the to conform with the current year’s presentation. private sector by way of a 99 year lease. Confirmation (a) Goods and services tax (GST) and timing of a potential sale of the Company and its assets, is yet to be determined by the NSW Revenues, expenses and assets are recognised net of Government. The members of the Board of Directors the amount of associated GST, unless the GST incurred believe that the potential for divestment has not is not recoverable from the Australian Taxation Office. In impacted the Authority’s financial position. this case it is recognised as part of the cost of acquisition of the asset or as part of the expense. Receivables 3. PRINCIPLES OF CONSOLIDATION and payables are stated inclusive of the amount of Controlled entities are all those entities over which the GST receivable or payable. The net amount of GST Authority has the power to govern the financial and recoverable from, or payable to, the Australian Taxation operating policies so as to obtain benefits from Office is included with other receivables or payables in its activities. the Statement of Financial Position. Redfern-Waterloo Authority

Redfern-Waterloo Authority Financials

44 NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2011

Cash flows are included in the statement of cash flow Where any unspent contributions at year end are on a gross basis. However, the GST components of repayable to the funding bodies in the following cash flows arising from investing and financing activities financial year, the unspent contributions are accounted which is recoverable from, or payable to, the Australian for as liabilities rather than revenue. Taxation Office are classified as operating cash flows. (iii) Lease revenue (b) Income tax Lease revenue from operating leases is recognised The Authority is a not for profit entity and is not a listed on straight-line basis over the lease term. The lease entity in the National Tax Equivalent Regime Entity payments received in advance are recorded as a liability Register. Hence is not liable for income tax under and recognised as revenue over the lease term. Lease the National Tax Equivalent Regime On 16 February incentives granted are recognised as an integral part 2005, a private ruling was made in favour of the of the total rental income, over the term of the lease. Company, where it was deemed that Section 24AM of Where the future rental income is at the discretion of the Income Tax Assessment Act 1936 applies to exempt lessor(the Authority), the straight line income recognition the Company’s income from the imposition of income is calculated assuming a future rental income of 5% of tax. The ruling has been reconfirmed since 2005, with the market value of the relevant land. a further extension to 30 June 2015 approved by the Australian Tax Office in a private ruling advice dated 2 (iv) Investment revenue March 2010. . Investment revenue comprises interest income on (c) Revenue recognition funds invested with financial institutions. In addition, any changes in fair value of financial assets held with The Authority recognises revenue when the amount of the NSW Treasury Corporation’s Hour-Glass facilities revenue can be reliably measured, it is probable that represented by a number of units of a management future economic benefits will flow to the entity, and investment pool at fair value through profit and loss specific criteria have been met for each of the Authority’s account are recognised using the effective interest activities as described below. The amount of revenue method as set out in AASB 139 Financial Instruments: is not considered to be reliably measurable until all Recognition and Measurement. contingencies relating to the sale have been resolved. The Authority bases its estimates on historical results, (v) Other revenue taking into consideration the type of customer, the type of transaction and the specifics of each arrangement. Other revenue is recognised when the right to receive the revenue has been established. Revenue is measured at the fair value of the consideration received or receivable. Amounts disclosed (d) Expenses as revenue are net of returns, trade allowances, rebates All expenses incurred on an accrual basis are and amounts collected on behalf of third parties. recognised as expenditure for the year to the extent Revenue is recognised for the major business that the Authority has benefited by receiving goods or activities as follows: services and the expenditure can be reliably measured.

(i) Sale of goods and services • Employee expenses

Revenue is recognised when the Authority transfers Employee expenses includes salaries and wages for the the significant risks and rewards of ownership of the year, workers compensation insurance premium for the assets and obtains control of the assets that result year, 9% defined contribution incurred for employees from sales. under defined contribution scheme and amounts nominated by the fund managers in respect of defined (ii) Grants and contributions benefit schemes. Annual leave and long service leave expenses are charged as stated in Note 3 (d) (ii). An unconditional contribution and grants received are recognised as revenue when the Authority obtains • Depreciation expenses control over the assets comprising the contribution. Control over contributions is normally obtained upon Depreciation expenses are charged as stated the receipt of cash. in 5 (e) (vi) 2010-2011 Annual Report

45 NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2011

• Maintenance expenses the debtor, probability that the debtor will enter bankruptcy or financial reorganisation, and default or delinquency Maintenance expenses are charged as stated in 5 (e) (vi) in payments are considered indicators that the trade receivable is impaired. The amount of the impairment • Insurance expenses allowance is the difference between the asset’s carrying amount and the present value of estimated future cash The Authority holds insurance policies covering property, flows, discounted at the original effective interest rate public liability, workers compensation, directors’ liability Short-term receivables with no stated interest rate are and other contingencies. These insurance covers are measured at the original invoice amount where the effect conducted through the NSW Treasury Managed Fund of discounting is immaterial. Scheme of self insurance for Government agencies. The premium is determined by the Fund Manager based on The amount of the impairment loss is recognised in past claim experience and the insurance coverage is the Statement of Comprehensive Income within other reviewed periodically to ensure that it is adequate. expenses. When a trade receivable for which an impairment allowance had been recognised becomes • Finance costs uncollectible in a subsequent period, it is written off Finance costs incurred for the construction of any against the allowance account. Subsequent recoveries of qualifying asset are capitalised during the period of time amounts previously written off are credited against other that is required to complete and prepare the asset for its expenses in the Statement of Comprehensive Income. intended use or sale. Other finance costs are expensed. (iii) Impairment of financial assets (e) Assets All financial assets, except those measured at fair (i) Cash and cash equivalent value through Statement of Comprehensive Income, are subject to an annual review for impairment. An Cash and cash equivalents include cash on hand, allowance for impairment is established when there deposits held at call with financial institutions and other is objective evidence that the entity will not be able to short-term, highly liquid investments with the NSW collect all amounts due. Treasury Corporation’s Hour-Glass facilities. These are readily convertible to cash and classified as cash For financial assets carried at amortised cost, the and cash equivalent. amount of the allowance is the difference between the assets carrying amount and the present value of (ii) Receivables estimated future cash flows, discounted at the effective interest rate. The amount of the impairment loss is Receivables include trade and other receivables, recognised in the Statement of Comprehensive Income. and statutory debts. When an available for sale financial asset is impaired, Trade and other receivables (including loans) are non- the amount of the cumulative loss is removed derivative financial assets with fixed or determinable from equity and recognised in the Statement of payments that are not quoted in an active market. Comprehensive Income, based on the difference These financial assets are recognised initially at fair between the acquisition cost (net of any principal value, usually based on the transaction cost or face repayment and amortisation) and current fair value, value. Subsequent measurement is at amortised cost less any impairment loss previously recognised in the using the effective interest method, less an allowance Statement of Comprehensive Income. for any impairment of receivables. Any reversals of impairment losses are reversed Collectability of trade receivables is reviewed on an through the Statement of Comprehensive Income, ongoing basis. Debts which are known to be uncollectible where there is objective evidence, the only exception are written off by reducing the carrying amount directly. being reversals of impairment losses on an investment Any changes are recognised in the surplus/ (deficit) for in an equity instrument classified as “available for the year when impaired, derecognised or through the sale” must be made through the reserve. Reversals amortisation process. An allowance account is used when of impairment losses of financial assets carried at there is objective evidence that the Authority will not be amortised cost cannot result in a carrying amount that able to collect all amounts due according to the original exceeds what the carrying amount would have been terms of the receivables. Significant financial difficulties of had there not been an impairment loss. Redfern-Waterloo Authority

Redfern-Waterloo Authority Financials

46 NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2011

(iv)  De-recognition of financial assets Assets acquired at no cost, or for nominal and financial liabilities consideration, are initially recognised as assets and revenues at their fair value at the date of acquisition. A financial asset is derecognised when the contractual Fair value means the amount for which an asset could rights to the cash flows from the financial assets be exchanged between knowledgeable, willing parties expire; or if the Authority transfers the financial asset: in an arm’s length transaction.

- Where substantially all the risks and rewards have Where settlement of any part of cash consideration is been transferred or; deferred, its cost is the cash price equivalent, that is, - Where the Authority has not transferred the deferred payment amount is effectively discounted substantially all the risks and rewards, if the entity at an asset-specific rate. has not retained control. • Capitalisation thresholds Where the Authority has neither transferred nor retained substantially all the risks and rewards or transferred The Authority’s policy is to capitalise all costs incurred control, the asset is recognised to the extent of the in property development. Authority’s continuing involvement in the asset. Property, plant and equipment and intangible assets A financial liability is derecognised when the costing $5,000 and above individually (or forming part obligation specified in the contract is discharged of a network costing more than $5,000 are capitalised. or cancelled or expires. • Revaluation of physical non-current assets (v) Other Assets Physical non-current assets are valued in accordance Other assets include superannuation assets and with the “Valuation of Physical Non-Current Assets at prepayments. Other assets are recognised on a Fair Value” Policy and Guidelines Paper (TPP 07-1). cost basis. This policy adopts fair value in accordance with AASB 116 Property, Plant and Equipment and AASB 140 If a surplus exists in the employer’s interest in Investment Property. the defined benefit fund, the Authority recognised the amount as superannuation asset and take The fair value of land under a prepaid long-term lease advantage of it in the form of a reduction in the is negligible and as such it is recorded at $1 in the asset required contribution rate, depending on the advice register. However, land under a prepaid long-term of the Fund’s actuary. Where a deficiency exists, the lease, irrespective of whether an upfront lease income employer is responsible for any difference between was received, that continues to receive a rental stream the employer’s share of Fund assets and the defined is measured at fair value as investment property. benefit obligation and recognised as liability. Property, plant and equipment is measured on an (vi) Property, plant and equipment existing use basis, where there are no feasible alternative uses in the existing natural, legal, financial Land and buildings are measured at fair value less and socio-political environment. However, in the limited depreciation recognised after the date of revaluation. circumstances where there are feasible alternative Plant and equipment is stated at historical cost less uses, assets are valued at their highest and best use. accumulated depreciation. Fair value of property, plant and equipment is • Acquisitions of assets determined based on the best available market evidence, including current market selling prices The cost method of accounting is used for the initial for the same or similar assets. Where there is no recording of all acquisitions of assets controlled available market evidence, the asset’s fair value is by the Authority. Cost is the amount of cash or measured at its market buying price, the best indicator cash equivalents paid or the fair value of the other of which is depreciated replacement cost. consideration given to acquire the asset at the time of its acquisition or construction or, where applicable, the Land and buildings, including open spaces and amount attributed to that asset when initially recognised roads, are revalued at least every three years or in accordance with the specific requirements of other with sufficient regularity to ensure that the carrying Australian Accounting Standards. amount of each asset does not differ materially from 2010-2011 Annual Report

47 NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2011

its fair value at reporting date. The last revaluation • Depreciation of property, plant and equipment was completed on 31 May 2011 and was based on an independent assessment. Depreciation is provided for on a straight-line basis for all depreciable assets so as to write off the Non-specialised assets with short useful lives depreciable amount of each asset as it is consumed are measured at depreciated historical cost, as a over its useful life by the Authority. Estimates of surrogate for fair value. remaining useful lives are made on a regular basis for all assets, with annual reassessments for major items. When revaluing non-current assets by reference to current prices for assets newer than those being Land is not a depreciable asset. revalued (adjusted to reflect the present condition of the assets), the gross amount and the related Depreciation of art and artefacts is not recognised accumulated depreciation are separately restated. because the useful life and the net amount to be recovered at the end of the useful life cannot be For other assets, any balances of accumulated reliably measured. The decision not to recognise depreciation at the revaluation date in respect of depreciation for these assets is reviewed annually. those assets are credited to the asset accounts to which they relate. The net asset accounts are then The following depreciation rates were applied during increased or decreased by the revaluation increments 20010-11 and 2009-10: or decrements. • Furniture and fittings 4-5 years Revaluation increments are credited directly to the asset • Plant and equipment 3-4 years revaluation reserve, except that, to the extent that an • Freehold building 5 years ** increment reverses a revaluation decrement in respect of that class of asset previously recognised as an expense • Leasehold improvements Shorter of the lease in the surplus/deficit, the increment is recognised period, or useful life. immediately as revenue in the surplus/deficit. ** The Little Eveleigh Street building, which was a Revaluation decrements are recognised immediately strategic purchase in relation to the future Redfern as expenses in the surplus/deficit, except that, to Station redevelopment, was written down to nil value at the extent that a credit balance exists in the asset 30 June 2010 on the basis it is probable the site will be revaluation reserve in respect of the same class needed for the future Redfern Station development. of assets, they are debited directly to the asset The NSW Government has not yet determined revaluation reserve. the timing of the Redfern Station Redevelopment, As a not-for-profit entity, revaluation increments and therefore the timing of the building’s removal is decrements are offset against one another within a presently uncertain. class of non-current assets, but not otherwise. • Major inspection costs Where an asset that has previously been revalued When each major inspection is performed, the labour is disposed of, any balance remaining in the asset cost of performing inspections for faults is recognised revaluation reserve in respect of that asset is in the carrying amount of an asset as a replacement transferred to accumulated funds. of a part, if the recognition criteria are satisfied. • Impairment of Property, Plant and Equipment • Restoration costs As a not-for-profit entity, the Authority is effectively The estimated cost of dismantling and removing an exempt from AASB 136 Impairment of Assets and asset and restoring the site is included in the cost of impairment testing. This is because AASB 136 an asset, to the extent it is recognised as a liability. modifies the recoverable amount test to the higher of fair value less costs to sell and depreciated • Maintenance replacement cost. This means that, for an asset already measured at fair value, impairment can only Day-to-day servicing costs or maintenance are charged arise if selling costs are material. Selling costs are as expenses as incurred, except where they relate to the regarded as immaterial. replacement of a part or component of an asset, in which case the costs are capitalised and depreciated. Redfern-Waterloo Authority

Redfern-Waterloo Authority Financials

48 NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2011

(vii) Leased assets uses alternative valuation methods such as recent prices in less active market or discounted cash flow • Leases projections. These valuations are reviewed annually by a member of the Australian Property Institute. Leases of property, plant and equipment, where the Changes in fair values are recorded in the Statement Authority as lessee, has substantially all the risks and of Comprehensive Income as part of other revenue or rewards of ownership are classified as finance leases. other expenses.

Finance leases are capitalised at the lease’s inception (ix) Intangible assets at the fair value of the leased property or, if lower, the present value of the minimum lease payments. The Authority recognises intangible assets only if it The corresponding rental obligations, net of finance is probable that future economic benefits will flow charges, are included in other short-term and long- to the Authority and the cost of the asset can be term payables. Each lease payment is allocated measured reliably. Intangible assets are measured between the liability and finance cost. The finance initially at cost. Where an asset is acquired at no or cost is charged to the Statement of Comprehensive nominal cost, the cost is its fair value as at the date Income over the lease period so as to produce a of acquisition. IT development and software costs constant periodic rate of interest on the remaining incurred in developing products or systems, and balance of the liability for each period. The property, costs incurred in acquiring software and licenses plant and equipment acquired under finance leases that will contribute to future period financial benefits are depreciated over the shorter of the asset’s useful through revenue generation and/or cost reduction, are life and the lease term. capitalised to software and systems. Costs capitalised include external direct costs of materials and service, Leases in which a significant portion of the risks direct payroll and payroll related costs of employees’ and rewards of ownership are not transferred to the time spent on the project. Amortisation is calculated Authority as lessee are classified as operating leases. on a straight-line basis over a period of three years. Payments made under operating leases are charged to the Statement of Comprehensive Income on a The useful lives of intangible assets are assessed to straight-line basis over the period of the lease. be infinite. Intangible assets are measured initially at cost and subsequently at fair value only if there is an • Lease incentives active market. As there is not an active market for the Authority’s intangible assets, the assets are carried at Lease incentives include upfront cash payments to cost, less any accumulated amortisation. the lessee or the reimbursement or assumption by the Authority, as the lessor, of costs of the lessee (such IT development costs include only those costs directly as relocation costs, leasehold improvements, fit-out attributable to the development phase and are only contributions and costs associated with a pre-existing recognised following completion of technical feasibility lease commitment). Alternatively, the initial period of and where the group has an intention and ability to the lease term may be agreed to be rent-free or at a use the asset. reduced rent, and shall be recognised, in accordance with the Australian Accounting Interpretations. (f) Liabilities

• Operating lease incentives (i) Trade and other payables

Operating lease incentives represent a reduction of rental These amounts represent liabilities for goods and income over the lease term on a straight-line basis. services provided to the Authority and other amounts. Payables are recognised initially at fair value, usually (viii) Investment properties based on the transaction cost or face value. Subsequent measurement is at amortised cost using the effective Investment property, principally comprising freehold interest method. Short-term payables with no stated office buildings, is held for long-term rental yields and interest rate are measured at the original invoice amount is not occupied by the Authority. Investment property where the effect of discounting is immaterial. is carried at fair value, which is based on active market prices, adjusted, if necessary, for any difference in the nature, location or condition of the specific asset. If this information is not available, the Authority 2010-2011 Annual Report

49 NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2011

(ii) Borrowings Provisions made in respect of employee benefits which are not expected to be settled within 12 months Borrowings are initially recognised at fair value, net are measured at the present value of the estimated of transactions costs. Borrowings are subsequently future cash outflows to be made by the consolidated measured at amortised cost. Any difference between entity in respect of services provided by employees the proceeds (net of transaction costs) and the up to reporting date. The government bond rate redemption amount is recognised in the Statement of 5.50% 2009-2010 5.50%%) was applied for of comprehensive income, over the period of the discounting purposes. borrowings, using the effective interest method. The outstanding amounts of payroll tax, workers’ Borrowings are removed from the Statement of compensation, insurance premiums and fringe financial position when the obligation specified in benefits tax, which are consequential to employment, the contract is discharged, cancelled or expired. The are recognised as liabilities and expenses when the difference between the carrying amount of a financial employee benefits to which they relate have been liability that has been extinguished or transferred to recognised. another party and the consideration paid, including any non-cash assets transferred or liabilities assumed, • Retirement benefit obligations is recognised in other income or other expenses. All employees of the Authority are entitled to Borrowings are classified as current liabilities unless the benefits from the Authority’s superannuation plan authority has an unconditional right to defer settlement of on retirement, disability or death. The Authority has the liability for at least 12 months after the reporting date. a defined benefit plan and a defined contribution plan. The defined contribution plan receives fixed (iii) Employee benefits contributions from the Authority and the Authority’s legal or constructive obligation is limited to these • Wages and salaries, annual leave and sick leave contributions. Contributions to the defined contribution fund are recognised as an expense as they become Liabilities for wages and salaries, including non- payable. Prepaid contributions are recognised as an monetary benefits and annual leave expected to be asset to the extent that a cash refund or a reduction in settled within twelve months of the reporting date are the future payments is available. recognised in respect of employees’ service up to the reporting date at undiscounted amounts and are A liability or asset of defined benefits superannuation measured at the amounts expected to be paid when plans is recognised in the balance sheet, and is the liabilities are settled. measured as the present value of the defined benefit obligation at the reporting date less the fair value of Long-term annual leave that is not expected to be taken the superannuation fund’s assets at that date and any within twelve months is measured at present value in unrecognised past service cost. The present value of accordance with AASB 119 Employee Benefits. Market the defined benefit obligations is based on expected yields on government bonds of 5.21% (2009-2010 future payments which arise from membership of 5.50%) were applied to discount long-term annual leave. the fund to the reporting date, calculated annually by • Long service leave independent actuaries using the projected unit credit method. Consideration is given to expected future wage The liability for long service leave is recognised in and salary levels, experience of employee departures the provision for employee benefits and measured as and periods of service. the present value of expected future payments to be made in respect of services provided by employees Expected future payments are discounted using up to the reporting date using the discount method. market yields at the reporting date on national Consideration is given to expected future wage and government bonds with terms to maturity and currency salary levels, experience of employee departures and that match, as closely as possible, the estimated periods of service. Expected future payments are future cash outflows. discounted using market yields at the reporting date Past service costs are recognised immediately in on national government bonds with terms to maturity income, unless the changes to the superannuation fund and currency that match, as closely as possible, the are conditional on the employees remaining in service estimated future cash outflows. for a specified period of time (the vesting period). In this Redfern-Waterloo Authority

Redfern-Waterloo Authority Financials

50 NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2011

case, the past service costs are amortised on a straight- provide relief from disclosures previously required line basis over the vesting period. regarding renegotiated loans. Not applicable to the Authority as at the balance date. Contributions to the defined contribution fund are recognised as an expense as they become payable. • Amendments to AASB 5 ‘Non-current Assets Held Prepaid contributions are recognised as an asset to for Sale and Discontinued Operations’. Disclosures the extent that a cash refund or a reduction in the in these financial statements have been modified future payments is available. to reflect the clarification in AASB 2009-5 ‘Further Amendments to Australian Accounting Standards (iv) Provisions arising from the Annual Improvements Project’ that the disclosure requirements in Standards other than Provisions are recognised when the Authority has AASB 5 do not generally apply to noncurrent assets a present obligation as a result of a past event, it is classified as held for sale and discontinued operations. probable that the Authority will be required to settle Not applicable to the Authority as at the balance date. the obligation, and a reliable estimate can be made of the amount of the obligation. • Amendments to AASB 101 ‘Presentation of Financial Statements’ (adopted in advance of effective date Provisions are measured at the present value of of 1 January 2011). The amendments (part of management’s best estimate of the expenditure AASB 2010-4 ‘Further Amendments to Australian required to settle the present obligation at the Accounting Standards arising from the Annual reporting date. The discount rate used to determine Improvements Project’) clarify that an entity may the present value reflects current assessments of choose to present the required analysis of items of the time value of money and the risks specific to other comprehensive income either in the statement the liability. The increase in the provision due to the of changes in equity or in the notes to the financial passage of time is recognised as interest expense. statements. All material items are adequately disclosed by way of notes to the financial statements. (v) f) Comparative information • Amendments to AASB 107 ‘Statement of Cash Except when an Australian Accounting Standard Flows’. The amendments (part of AASB 2009-5 permits or requires otherwise, comparative information ‘Further Amendments to Australian Accounting is disclosed in respect of the previous period for all Standards arising from the Annual Improvements amounts reported in the financial statements. Project’) specify that only expenditures that result z) New Australian Accounting Standards Issues in a recognised asset in the statement of financial position can be classified as investing activities in • Application of new and revised Accounting Standards the statement of cash flows. Consequently, cash i. Standards and Interpretations affecting amounts flows in respect of development costs that do not reported in the current period (and/or prior periods) meet the criteria in AASB 138 ‘Intangible Assets’ for capitalisation as part of an internally generated The following new and revised Standards and intangible asset (and, therefore, are recognised in Interpretations have been adopted in the current profit or loss as incurred) have been reclassified period and have affected the amounts reported in from investing to operating activities in the statement these financial statements. Details of other Standards of cash flows. Not applicable to the Authority as at and Interpretations adopted in these financial the balance date statements but that have had no effect on the amounts reported are set out in section (ii). ii. Standards and Interpretations adopted with no effect on financial statements Standards affecting presentation and disclosure The following new and revised Standards and • Amendments to AASB 7 ‘Financial Instruments: Interpretations have also been adopted in these Disclosure’ (adopted in advance of effective date financial statements. Their adoption has not had any of 1 January 2011). The amendments (part of significant impact on the amounts reported in these AASB 2010-4 ‘Further Amendments to Australian financial statements but may affect the accounting for Accounting Standards arising from the Annual future transactions or arrangements. Improvements Project’) clarify the required level of disclosures about credit risk and collateral held and 2010-2011 Annual Report

51 NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2011

AASB 2009-5 ‘Further Amendments to Except for the amendments to AASB 5 and AASB 107 described Australian Accounting Standards arising earlier this section, the application of AASB 2009-5 has not had any from the Annual Improvements Project’ material effect on amounts reported in the financial statements.

AASB 2009-8 ‘Amendments to The application of AASB 2009-8 makes amendments to AASB Australian Accounting Standards - Group 2 ‘Share-based Payment’ to clarify the scope of AASB 2, as well Cash-Settled Share based Payment as the accounting for group cash-settled share-based payment Transactions’ transactions in the separate (or individual) financial statements of an entity receiving the goods or services when another group entity or shareholder has the obligation to settle the award. The Authority’s financial statements are not impacted by this amendment.

AASB 2009-10 ‘Amendments to The application of AASB 2009-10 makes amendments to AASB 132 Australian Accounting Standards - ‘Financial Instruments: Presentation’ to address the classification Classification of Rights Issues’ of certain rights issues denominated in a foreign currency as either an equity instrument or as a financial liability. To date, the Authority has not entered and it has no legal right to enter into any arrangements that would fall within the scope of the amendments.

AASB 2010-3 ‘Amendments to Australian The application of AASB 2010-3 makes amendments to AASB Accounting Standards arising from the 3(2008) ‘Business Combinations’ to clarify that the measurement Annual Improvements Project’ choice regarding non-controlling interests at the date of acquisition is only available in respect of noncontrolling interests that are present ownership interests and that entitle their holders to a proportionate share of the entity’s net assets in the event of liquidation. All other types of noncontrolling interests are measured at their acquisition-date fair value, unless another measurement basis is required by other Standards. In addition, the application of AASB 2010-3 makes amendments to AASB 3(2008) to give more guidance regarding the accounting for share-based payment awards held by the acquiree’s employees. Specifically, the amendments specify that share-based payment transactions of the acquiree that are not replaced should be measured in accordance with AASB 2 ‘Share-based Payment’ at the acquisition date (‘market-based measure’). This amendment is not applicable to the Authority.

AASB 2010-4 ‘Further Amendments to Except for the amendments to AASB 7 and AASB 101 described Australian Accounting Standards arising earlier this section, the application of AASB 2010-4 has not had any from the Annual Improvements Project’ material effect on amounts reported in the financial statements.

Interpretation 19 ‘Extinguishing Financial This Interpretation provides guidance regarding the accounting Liabilities with Equity Instruments’ for the extinguishment of a financial liability by the issue of equity instruments. In particular, the equity instruments issued under such arrangements will be measured at their fair value, and any difference between the carrying amount of the financial liability extinguished and the fair value of equity instruments issued will be recognised in profit or loss. This amendment is not applicable to the Authority. Redfern-Waterloo Authority

Redfern-Waterloo Authority Financials

52 NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2011

iii. Standards and Interpretations in issue not yet adopted

At the date of authorisation of the financial statements, the Standards and Interpretations listed below were in issue but not yet effective.

Standard/Interpretation Effective for annual Expected to be initially reporting periods applied in the financial beginning on or after year ending AASB 124 ‘Related Party Disclosures’ (revised 1 January 2011 30 June 2012 December 2009), AASB 2009-12 ‘Amendments to Australian Accounting Standards’ AASB 9 ‘Financial Instruments’, AASB 2009- 11 1 January 2013 30 June 2014 ‘Amendments to Australian Accounting Standards arising from AASB 9’ and AASB 2010-7 ‘Amendments to Australian Accounting Standards arising from AASB 9 (December 2010)’ AASB 2009-14 ‘Amendments to Australian 1 January 2011 30 June 2012 Interpretation - Prepayments of a Minimum Funding Requirement’ AASB 2010-5 ‘Amendments to Australian 1 January 2011 30 June 2012 Accounting Standards’ AASB 2010-6 ‘Amendments to Australian 1 July 2011 30 June 2012 Accounting Standards - Disclosures on Transfers of Financial Assets’ AASB 2010-8 ‘Amendments to Australian 1 January 2012 30 June 2013 Accounting Standards - Deferred Tax: Recovery of Underlying Assets 2010-2011 Annual Report

53 NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2011

6. DETERMINATION OF FAIR VALUES 7. FINANCIAL RISK MANAGEMENT

A number of accounting policies and disclosures require The Authority has exposure to the following risks from the determination of fair value, for both financial and the use of financial instruments: non-financial assets and liabilities. Fair values have been determined for measurement and / or disclosure • Credit risk purposes based on the following methods: • Liquidity risk • Market risk (i) Property, plant and equipment • Operational risk The fair value of property, plant and equipment recognised by the Authority was based on market This note presents information about the Authority’s values. The market value of property was the estimated exposure to each of the above risks, their objectives, amount for which a property could be exchanged on policies, and processes for measuring and managing the date of valuation between a willing buyer and a risk, and their management of capital. Further willing seller in an arm’s length transaction. The market quantitative disclosures are included through these value of items of furniture and fittings is based on the consolidated financial statements. market approach for similar items when available and replacement cost when appropriate. Risk Management framework

(ii) Investment properties The Board of Directors has the overall responsibility for the establishment and oversight of the risk The fair value of investment property recognised by management framework. The Chief Executive Officer the Authority was based on market values. The market is responsible for developing and monitoring the value of property was the estimated amount for which overall risk management strategy and policies for the a property could be exchanged on the date of valuation Authority. The Chief Executive Officer is responsible for between a willing buyer and a willing seller in an the establishment and oversight of risk management arm’s length transaction. The market value of items of and reviews the Authority’s activities and assets. The furniture and fittings is based on the market approach Chief Audit Executive reports to the Audit and Risk for similar items when available and replacement cost Committee, which in turn reports regularly to the Board when appropriate. on its activities.

(iii) Trade and other receivables Risk management policies are established to identify and analyse the risks faced by the Authority in setting The fair value of trade and other receivables is based on appropriate risk limits and controls, and to monitor risk the net realisable value after considering any possible and adherence to limits. Risk management policies risks of impairment. All trade and other receivables, and systems are reviewed regularly to reflect changes after impairment, are expected to be received within a in market conditions and the Authority’s activities. The short period of time and considered as fair values at the Authority through the training in and implementation of date when goods and services were provided. policies and procedures has developed a disciplined and constructive control environment in which all (iv) Trade and other payables employees understand their roles and obligations.

Trade and other payables are expected to be paid The Audit and Risk Committee oversees how management within a short period of time and were considered as fair monitors compliance with the risk management policies values at the date goods and services were acquired. and procedures and reviews the adequacy of the risk management framework in relation to risks faced by When applicable, further information about the the Authority. The Chief Executive in the capacity of the assumptions made in determining fair values are Chief Audit Executive manages the internal audit function disclosed in the notes specific to the assets or the liability. by conducting scheduled and ad hoc reviews of risk management control procedures, the results of which are reported to the Audit and Risk Committee. Redfern-Waterloo Authority

Redfern-Waterloo Authority Financials

54 NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2011

The Consolidated entity’s principal financial instruments • Trade debts comprise finance leases, cash and short term deposits. The main purpose of these financial instruments is to All trade debtors including rental debtors are fund Consolidated entity’s operations. The Consolidated recognised as amounts receivable at balance entity has various other financial instruments such as date. Collectability of trade debtors is reviewed on debtors and trade creditors, which arise directly from an ongoing basis from the monthly aged analysis its operations. It is, and has been throughout the period report. The Director of Finance is responsible for under review, the Consolidated entity’s policy that no the credit control function of all outstanding trade trading in financial instruments shall be undertaken. debtors. Debts which are known to be uncollectible The main risks arising from the Consolidated entity’s are written off. An allowance for impairment is raised financial instruments are interest rate risk, liquidity when there is objective evidence that the entity will risk and credit risk. The executive reviews and agrees not be able to collect all amounts due. This evidence policies for managing each of these risks and they are includes past experience, and current and expected summarised below. changes in economic conditions. The credit risk is the carrying amount (net of any allowance for (a) Credit Risk impairment). The average credit period extended by the Company on rental payments and on conference Credit risk is the risk of financial loss to the Authority activity services is 7 days and by the Authority on if a Authority’s debtor or counterparty to a financial conference activity services is 30 days. No interest instrument fails to meet its contractual obligations. is charged on the overdue invoices and debtors. Credit risk arises from the financial assets of the Authority, including cash, receivables, term deposits Lettable area of the company is leased to new and investment in unit trust deposits. In regards to customers who fit the selection criteria and the investments in unit trusts, this credit risk is reflected company also has a policy of collecting 3-6 months in the unit prices when the underlying securities are rental as bond before the commencement of the marked to market. The maximum exposure to credit risk lease. The customers in the conference centre is generally represented by the carrying amount of the normally pay almost 90% of the total event invoice financial assets (net of any allowance for impairment). in advance of the event happening. The revenue The Authority has not granted any financial guarantees. stream for the Authority mainly consists of collecting contribution levy’s and Government grants against (i) Cash which there can be no doubtful debts. The Authority also earns income from its Training and Employment Cash comprises cash on hand and bank balances with enterprise segment and the Authority will be subject the Commonwealth Bank of Australia. Interest is earned to doubtful debts from this income stream. However, on daily bank balances at the monthly average cash the amount is not expected to be material. rate. It is the Authority’s practice to deal with banks of “AAA” ratings recommended by the NSW Government. A significant portion of the trade receivables balance is due from General Government entities and the balance (ii) Receivables is due from Public Trading Enterprises. Included in the Consolidated Entity’s trade receivable balances The Authority’s exposure to credit risks is influenced are debtors which are past due at the reporting date mainly by the individual characteristics of each debtor. for which the Consolidated Entity has not provided as The Authority has trade debts and other debts. there has not been significant change in credit quality and the amounts are still considered recoverable. The Consolidated Entity does not hold collateral over these balances. Refer note 12 for details. 2010-2011 Annual Report

55 NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2011

In determining the recoverability of a trade receivable, The Authority’s limits its exposure to credit risks by the Consolidated Entity considers any change in the investing unit trusts with NSW Treasury Corporation credit quality of the trade receivable from the date whose portfolio of investments is within the risk credit was initially granted up to the reporting date. limits disclosed by the NSW Treasury Corporation. NSW Treasury Corporation appoints and monitors The concentration of credit risk is limited due to the the application of appropriate investment guidelines. customer base being large and unrelated Included The value of the investment held can decrease as in the allowance for impairments of receivables are well as increase depending on market conditions. individually impaired. Refer note12 for details. The value of the above investment represents the company’s share of the value of the underlying assets • Other debts of the facility, and those assets as stated at net value. These investments are highly liquid and are classified The Authority is exposed to various concentrations as cash and cash equivalent. of credit risk to other debts. These debts were incurred as a result of the payment of minor and (b) Liquidity Risk advances repayable within in a short period of time. The credit risk is exposed in the monthly Liquidity risk is the risk that the Authority will be aged analysis report. The Director of Finance is unable to meet its payment obligations when they responsible for the collectability of debts. fall due. The Authority continuously manages the risk through monitoring and planning future cash • Loan debts flows and ensure adequate holding of liquid assets. The objective is to maintain a balance between During the 2007-08 year, the Consolidated Entity continuity of funding and flexibility through the use of advanced fit out cost incurred by the company on appropriate investment strategies. behalf of Department of Defence. The advance is treated as a loan to Department of Defence at a The liquidity risk that might arise from various classes fixed rate 7.23% and recoverable over the term of of financial assets held by the Authority and its the lease period of 10 years. The maturity date is 30 management is explained under the credit risk of each May 2018. The outstanding loan amount at the end class of financial asset. of the financial year is disclosed in note 13(b) of the accounts. Management considers that the carrying The investment with NSW Treasury Corporation is amount of the loan best represents the maximum generally able to be redeemed daily by 11am. credit risk exposure at the balance sheet date and that there is no indication at that date that the During current and prior years, there were no defaults counterparty will not meet its obligations. or breaches on any amounts payable to creditors. No assets have been pledged as collateral. The (iii) Investments Authority’s exposure to liquidity risk is deemed insignificant based on prior periods’ data and a current The Authority has investments with the NSW Treasury assessment of risk. Corporation’s Hour-Glass facilities. The investment is represented by a number of units of a management The Authority currently has a loan facility of $47.5m investment pool with each particular pool having from NSW Treasury Corporation. The loan is different horizons and being comprised of a mix of unsecured with the floating rate of interest. In May asset classes appropriate to that investment horizon. 2010, the Authority’s Board approved commencement of a debt reduction strategy for the floating rate loan facility. The initial repayment of $5m nominated in the strategy was paid to TCorp during the year.. Redfern-Waterloo Authority

Redfern-Waterloo Authority Financials

56 NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2011

The liabilities are recognised for amounts due to be paid (i) Currency risk in the future for goods or services received, whether or not invoiced. Amounts owing to suppliers (which are The Authority has indirect exposure to foreign unsecured) are settled in accordance with the policy set currency risk by investing into funds with NSW out in Treasurer’s Direction 219.01. If trade terms are Treasury Corporation. NSW Treasury Corporation not specified, payment is made no later than the end manages the exposure to such risk. of the month following the month in which an invoice or a statement is received. Treasurer’s Direction 219.01 (ii) Interest rate risk allows the Minister to award interest for late payment. The Consolidated entity is exposed to interest rate risk No interest was paid during the year. as the Authority borrows at floating interest rates from (c) Market risk NSW Treasury Corporation and holds its surplus cash in NSW Treasury Corporation’s “Hour-Glass” cash Market risk is the risk that changes in market prices, facilities. NSW Treasury Corporation as trustee for the such as foreign exchange rates, interest rates and above facility is required to act in the best interest of the equity prices will affect the income or value of the unit holders and to administer the trusts in accordance holdings of financial instruments. The objective with the trust deeds. As trustee, the NSW Treasury of market risk management is to manage and Corporation has appointed external managers to control market risk exposures within in acceptable manage the performance and risks of each facility in parameters, while optimising the return. accordance with a mandate agreed by the parties.

The Authority’s exposures to market risk are as follows: At reporting date, if interest rates (on the net cash and investments and borrowings), had been 1 per cent higher and all other variables were held constant, the • Growth: the depth and length of the global economic Authority’s net profit would increase by $280k (2010: downturn, and its impact on the investments held by increase by $81k). the Authority • Systematic risk: liquidity and counterparty risks in The interest rate risk in respect of corporate card financial markets facility is considered to be negligible. • Lack of Corporate Governance: Universal lack of corporate governance leads to fraud and (iii) Other price risk bankruptcies. Exposure to ‘other price risk’ primarily arises through The Authority manages its market risk exposure by investments in unit trusts with NSW Treasury Corporation construction of risk framework that quantifies the and is managed by the NSW Treasury Corporation. risks in the investment strategies and the probable The company is also exposed to price risk based outcomes from the portfolio given different events. on the demand and supply of lettable area at the Australian Technology Park. 2010-2011 Annual Report

57 NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2011

(d) Operational risk Compliance with established standards, policies and procedures is supported by a programme of periodic The Authority manages its operational risk as part of review undertaken by Internal Audit. The results of the the risk management strategy. Operational risk is the internal audit reviews are discussed with management direct and indirect losses arising from a wide variety of the business unit to which they relate, with of causes associated with the Authority’s processes, reports submitted to Senior Management, the Audit personnel, technology, legal and regulatory Committee and the Board. requirements and generally accepted standards of corporate behaviour. Operational risk arises from all of Net fair values of financial assets and liabilities the Authority’s operations. The fair values of financial assets and liabilities are The Authority’s objective is to manage operational risk determined in accordance with generally accepted so as to balance the avoidance of financial losses and pricing models based on discounted cash flow damages to the Authority’s reputation with overall cost analysis using prices from observable current market effectiveness and to avoid control procedures that transactions. The carrying amount of financial assets restricts initiative and creativity. and financial liabilities recorded in the financial statements approximate their net fair values. The primary responsibility for the development and implementation of controls to address operational 6 Capital Management risk is assigned to senior management within each business unit. The responsibility is supported by the The consolidated entity manages its capital to ensure development of standards, policies and procedures in that entities in the Group will be able to continue the following areas: as a going concern while maximising the return to stakeholders. The capital structure of the Consolidated • Requirements for appropriate segregation of entity consists of debt, which includes the borrowing duties, including the independent authorisation disclosed in Note 21, cash and cash equivalents and of transactions retained profits as disclosed in note 23. In May 2010, • Requirements for the reconciliation and monitoring the Authority’s Board approved commencement of a of transactions debt reduction strategy for the floating rate loan facility. The initial repayment of $5m was repaid to NSW • Compliance with regulatory and legal requirements Treasury Corporation during the year. • Documentation of controls and procedures • Requirements for the periodic reporting to senior management, relevant committees and the Board. • Training and professional development • Risk mitigation, including insurance where this is effective. 670 - - 1,527 -

Redfern-Waterloo Authority

Redfern-Waterloo Authority Financials

58 NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2011

Consolidated Consolidated RWA RWA 2011 2010 2011 2010 $’000 $’000 $’000 $’000

7 (a) Revenue from continuing operations: Property and related services income 15,598 14,865 - - Operating Lease revenue 997 997 Conference Centre income 4,545 3,929 - - 20,143 18,794 997 997

(b) Grants and Contributions NSW Government agencies 10,620 8,635 10,620 8,635

(c) Other Income

Interest revenue Bank deposits 1,121 661 740 302 NSW Treasury Corporation 1,956 1,388 491 97 Hour-Glass cash facility Loan interest received from subsidiary - - 3,419 3,146 Finance lease received from subsidiary - - 298 282 3,077 2,049 4,947 3,827 Sundry Income 1,568 958 1,273 1,540 4,644 3,007 6,220 5,368

(d) Affordable housing plan contributions 6,000 6,600 6,000 6,600 670 - - 1,527 -

2010-2011 Annual Report

59 NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2011

Consolidated Consolidated RWA RWA 2011 2010 2011 2010 $’000 $’000 $’000 $’000 8 (a) Other expenses RWA Administration expenses 3,073 2,594 3,107 2,320

Subsidiary - ATPSL Conference centre cost of sales 2,153 1,837 - - Property expenses 3,169 3,109 - - Repairs and maintenance 623 1,009 - - Cleaning 374 417 - - Security 721 670 - - Consultants & Contractors 2,528 1,527 Legal 273 462 - - Other 1,589 539 - - total other expenses of subsidiary 11,430 9,570 - -

total other expenses 14,503 12,164 3,107 2,320

(b) Finance costs Interest on borrowings carried at amortised cost 3,419 3,428 3,419 3,146 3,419 3,428 3,419 3,146

(c) Valuation Increment/(decrement) - Changes in fair value of assets Changes in fair value of Land & property 0 (150) - (150) Changes in fair value of Investment property 5,250 (18,565) 3,353 (18,682) Changes in fair value of Other assets (1,750) - - - 3,500 (18,715) 3,353 (18,832)

During the year the investment property and other assets were revalued. The valuation increment of $5.25m (2010: decrement ($18.71m)) for investment properties has been booked into the accounts of the consolidated entity and an increment of $3.53m (2010: decrement ($18.83)) has been booked in the accounts of the Authority after adjusting for straight lining of lease accruals(note 18). Redfern-Waterloo Authority

Redfern-Waterloo Authority Financials

60 NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2011

Consolidated Consolidated RWA RWA 2011 2010 2011 2010 $’000 $’000 $’000 $’000 9 Surplus for the year Surplus has been arrived at after charging/ (crediting) the following losses/(gains): Allowance for impairments on receivables 5 (43) - - Auditor’s remuneration 93 121 31 35 Changes in fair value of investment property (5,250) 18,565 (3,353) 18,832 Depreciation of property, plant and equipment 1,121 1,885 126 1,156

10 Income Tax Expense Primarily due to their not for profit status, the Authority and the Company are not liable for income tax (refer Note 5(b)).

11 Cash and Cash Equivalents Cash on hand and at bank 15,304 11,512 12,638 10,692 Tenant demand deposits 485 485 - - NSW Treasury Corp “Hour-glass” 41,312 40,286 14,931 9,370 cash facility deposits 57,102 52,283 27,570 20,062

(i) Cash on hand includes an amount of $6.0m received under a voluntary planning agreement and $0.2m as development contributions. This cash can be used only for the purposes specified in the agreement. A separate bank account has been established for this purpose. The $6.0m was received in July 2011.

(i) Demand deposits are held with the Commonwealth Bank of Australia and represent money received as bond for the rental space at the Australian Technology Park. This amount will be refunded back to the tenant on the termination of the lease.

(ii) The Authority has investments with the NSW Treasury Corporation’s Hour-Glass facilities. The weight- ed average rate of return on these investments during the year was 5.26% (2010: 4.25%). Investments in Hour-Glass Facility include a $8m payment received from NSW Treasury to prepare for a potential sale of ATP. As no decision has been made by the NSW Government to progress the sale, RWA has invested the money’s in a separate investment to ensure it is not used for other purposes. 2010-2011 Annual Report

61 NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2011

Consolidated Consolidated RWA RWA 2011 2010 2011 2010 $’000 $’000 $’000 $’000 12 Receivables Current Trade receivables (i) 6,736 486 6,193 111 Allowance for impairments on receivables (51) (21) (25) - Interest bearing loan receivable from - - 437 407 the subsidiary Other debtors 20 3 - - Defined benefit superannuation receivable - - - - Goods and Services tax recoverable 128 214 12 25 Accrued Income - - - - Prepayments 1 - 1 - Total trade & other receivables 6,833 682 6,617 542

(i) Of the total $6,732k (2010: $495k) of the Consolidated Entity’s non interagency trade receivables, $6,384k (2010: $266k) are current with an average of 10 days. Management considers that there are no indications as of the reporting date that the debtors will not meet their payment obligations with one exception and appropriate action is being taken against the relevant customer.

Of the trade receivables balance at the end of the year, $113k (2010 - $137k) is due from General Gov- ernment entities, which makes up 21% (2010 - 35%) of the total balance and $25k (2010 - $4k) is due from Public Trading Enterprises, amounting to 5% of trade receivables balance (2010 - 1%).

Included in the Company’s trade receivable balances are debtors with a carrying amount of $418k (2010: $198k) which are past due at the reporting date for which the Company has not provided as there has not been significant change in credit quality and the amounts are still considered recoverable. The Company does not hold collateral over these balances. Redfern-Waterloo Authority

Redfern-Waterloo Authority Financials

62 NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2011

Consolidated Consolidated RWA RWA 2011 2010 2011 2010 $’000 $’000 $’000 $’000

12 Receivables (CONTINUED) Movement in allowance for impairments of receivables: Balance at the beginning of the financial year 21 64 - - Increase/(decrease) in provision for 30 (43) 25 - impairment loss Bad debts written off - - - - Balance at the end of the financial year 51 21 25 -

The Company is confident that all of that debt will be recovered during the year. The Company meets with these debtors on a regular basis to make sure that the debt is paid on time. Where necessary, debtors are placed on a payment plan, and/or prompt formal recovery action is initiated by the Company.

Ageing of past due but not impaired Less than 3 months overdue 6,500 149 6,086 - 3 to 6 months overdue 2 51 1 - later than 6 months overdue 105 2 102 - 6,607 202 6,189 -

In determining the recoverability of a trade receivable, the Company considers any change in the credit quality of the trade receivable from the date credit was initially granted up to the reporting date. The concentration of credit risk is limited due to the customer base being large and unrelated. Included in the allowance for impairments are trade receivables of $25k broken down by ageing, as follows:

Ageing of impaired trade receivables Less than 3 months overdue - 6 - - 3 to 6 months overdue 37 11 25 - > 6 months overdue 14 4 - - Total 51 21 25 -

13 Loan receivable - Department of Defence Current 437 407 - - Non-current 3,343 3,780 - - 3,780 4,187 - - 2010-2011 Annual Report

63 NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2011

Consolidated Consolidated RWA RWA 2011 2010 2011 2010 $’000 $’000 $’000 $’000 14 Lease Receivable Non-current lease receivables Finance lease receivables - - 5,648 5,350 - - 5,648 5,350

Finance lease relates to the lease of the Bio-medical Building by the Authority to the Company for a pe- riod of 99 years commenced from 30 June 1995. The fair value of the property at the commencement of the lease was $ 7.3 million and finance charges was calculated at 5.49% per annum. The Company does not have the option to purchase the property at the conclusion of the lease agreement. No residual value has been recognised in the books of the Authority at the end of the lease.

Finance lease receivables Minimum lease receivables, later than 5 years* - - 30,525 30,525 Less future finance charge - - (24,877) (25,175) Present value of minimum lease receivables - - 5,648 5,350

* Minimum future lease receivables includes the aggregate of all lease payments and any guaranteed residual.

Disclosures for the consolidated entity/Authority as lessor - operating leases

Operating leases relate to the investment property owned by the consolidated entity/Authority referred to in Note 18 to the financial statements. Lease terms range between 3 and 5 years, with options to extend. All operating lease contracts contain market review clauses in the event that the consolidated entity/Authority exercise their option to renew. The lessees do not have the option to purchase the property at the expiry of the lease period.

Non-cancellable operating lease receivables Not longer than 1 year 13,877 12,671 - - Longer than 1 year and not longer than 5 years 41,031 29,611 - - Longer than 5 years 22,003 33,748 68,225 68,225 76,911 76,030 68,225 68,225

The consolidated entity/Authority have various operating lease agreements for equipment and other facilities. Most leases contain renewable options. All operating lease contracts contain market review clauses in the event that the consolidated entity/Authority exercise their option to renew. The consolidated entity/Authority do not have an option to purchase the leased assets at the expiry of the lease period. Redfern-Waterloo Authority

Redfern-Waterloo Authority Financials

64 NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2011

Consolidated Consolidated RWA RWA 2011 2010 2011 2010 $’000 $’000 $’000 $’000 15 Other Financial Assets Investment in Subsidiary (note 19) - - 21,465 21,465 10 Year fixed interest loan advanced to - - 3,343 3,780 subsidiary* Interest-bearing loan advanced to subsidiary* - - 34,996 39,996 - - 59,804 65,241

• Interest-bearing loan advanced to subsidiary are on exactly the same terms as the loans from NSW Treasury Corporation - note 21

16 Property, Plant and Equipment Land and Buildings At Gross value 2,700 2,700 2,700 2,700 Accumulated depreciation (1,150) (1,150) (1,150) (1,150) Carrying amount at fair value 1,550 1,550 1,550 1,550

Leasehold improvements At Gross value 13,694 11,586 616 616 Accumulated depreciation (2,092) (1,495) (539) (416) Carrying amount at fair value 11,602 10,091 77 200

Furniture and Fittings At Gross value 1,629 1,051 - - Accumulated depreciation (1,049) (978) - - Carrying amount at fair value 580 73 - -

Plant and equipment At Gross value 3,171 2,432 99 84 Accumulated depreciation (1,992) (1,586) (86) (83) Carrying amount at fair value 1,179 846 13 1 2010-2011 Annual Report

65 NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2011

Consolidated Consolidated RWA RWA 2011 2010 2011 2010 $’000 $’000 $’000 $’000

16 Property, Plant and Equipment (CONTINUED) Motor vehicles At Gross value 32 - - - Accumulated depreciation (6) - - - Carrying amount at fair value 26 - - -

Art and artefacts At Gross value 5 5 - - Accumulated depreciation - - - - Carrying amount at fair value 5 5 - -

Intangible Assets At Gross value 407 356 5 5 Accumulated depreciation (341) (300) (5) (5) Carrying amount at fair value 66 56 - - Work in process 200 574 - -

Total Property Plant and Equipment At Gross value 21,838 18,705 3,420 3,406 Accumulated depreciation (6,630) (5,509) (1,780) (1,654) Carrying amount at fair value 15,208 13,195 1,640 1,751 Redfern-Waterloo Authority

Redfern-Waterloo Authority Financials

66 NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2011

17 (a) Reconciliation of Property Plant and Equipment Consolidated Leasehold Freehold Furniture Plant & Art and Motor Intangible Work in Total improvements Land & & fittings Equipment artefacts vehicles Assets progress Build Consolidated $’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000 At 1 July 2009 Cost or fair value 11,326 2,850 1,052 1,690 5 - 330 22 17,275 Accumulated Depreciation ( 1,020) ( 106) ( 947) ( 1,349) - - ( 204) - ( 3,626) Net book value 10,306 2,744 105 341 5 - 126 22 13,649

Year ended 30 June 2010 Opening net 10,306 2,744 105 341 5 - 126 22 13,649 book amount Revaluations - ( 150) ------( 150) Additions 260 - 1 742 - - 26 552 1,581 Depreciation ( 475) ( 1,044) ( 33) ( 237) - - ( 96) - ( 1,885) Closing net book value 10,091 1,550 73 846 5 - 56 574 13,195

At 30 June 2010 Cost or fair value 11,586 2,700 1,053 2,432 5 - 356 574 18,706 Accumulated ( 1,495) ( 1,150) ( 980) ( 1,586) - - ( 300) - ( 5,511) Depreciation Net book value 10,091 1,550 73 846 5 - 56 574 13,195

Year ended 30 June 2011 Opening net 10,091 1,550 73 846 5 - 56 574 13,195 book amount Additions 1,763 - 577 525 - 32 37 200 3,134 Transfer in/(out) 345 - - 214 - 15 ( 574) - Depreciation ( 597) - ( 70) ( 406) - ( 6) ( 42) - ( 1,121) Closing net book value 11,602 1,550 580 1,179 5 26 66 200 15,208

At 30 June 2011 Cost or fair value 13,694 2,700 1,630 3,171 5 32 408 200 21,840 Accumulated ( 2,092) ( 1,150) ( 1,050) ( 1,992) - ( 6) ( 342) - ( 6,632) Depreciation Net book value 11,602 1,550 580 1,179 5 26 66 200 15,208 2010-2011 Annual Report

67 NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2011

17 (b) Reconciliation of Property Plant and Equipment RWA Leasehold Freehold Furniture Plant & Art and Motor Intangible Work in Total improvements Land & & fittings Equipment artefacts vehicles Assets progress Build At 1 July 2009 $’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000 Cost or fair value 565 2,850 - 89 - - 5 - 3,509 Accumulated Depreciation ( 301) ( 106) - ( 87) - - ( 4) - ( 498) Net book value 264 2,744 - 2 - - 1 - 3,011

Year ended 30 June 2010 Opening net 264 2,744 - 2 - - 1 - 3,011 book value Revaluation - ( 150) ------( 150) Additions 51 - - ( 5) - - - - 46 Depreciation ( 115) ( 1,044) - 4 - - - ( 1,156) Closing net book value 200 1,550 - 1 - - - - 1,751

At 30 June 2010 Cost or fair value 616 2,700 - 84 - - 5 - 3,405 Accumulated ( 416) ( 1,150) - ( 83) - - ( 5) - ( 1,654) Depreciation Net book value 200 1,550 - 1 - - - - 1,751

Year ended 30 June 2011 Opening net 200 1,550 - 1 - - - - 1,751 book value Revaluation ------Additions - - - 15 - - - - 15 Depreciation ( 123) - - ( 3) - - - - ( 126) Closing net book value 77 1,550 - 13 - - - - 1,640

At 30 June 2011 Cost or fair value 616 2,700 - 99 - - 5 - 3,420 Accumulated ( 539) ( 1,150) - ( 86) - - ( 5) - ( 1,780) Depreciation Net book value 77 1,550 - 13 - - - - 1,640 Redfern-Waterloo Authority

Redfern-Waterloo Authority Financials

68 NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2011

Consolidated Consolidated RWA RWA 2011 2010 2011 2010 $’000 $’000 $’000 $’000 18 (a) Investment Property Balance at beginning of the financial year 158,500 176,825 94,500 112,185 Net gain/(loss) from fair value adjustment * 5,250 (18,325) 4,350 (17,685) Balance at the end of financial year 163,750 158,500 98,850 94,500

18 (b) Other Non current assets Balance at beginning of the financial year 9,625 9,625 - - Net gain/(loss) from fair value adjustment * (1,750) - - - Balance at the end of financial year 7,875 9,625 - -

* Net gain/(loss) from fair value adjustment comprised of: Amount recognised as lease income on a - - 997 997 straight line basis Balance amount of gain/(loss) disclosed as fair 5,250 (18,325) 3,353 (18,682) value adjustment 5,250 (18,325) 4,350 (17,685)

In 2009 the company received as part of a transaction for the lease of land to Channel 7 the “right to receive car park revenue” in respect of 350 car spaces at Lot 101, Everleigh, NSW. This right is considered as an asset. The value of the consideration at the time of recognition was independently measured at fair value based on projected income by Preston Rowe Paterson (PRP) independent valuers not related to the company. The right is saleable to a third party and is subject to market fluctuation. The company is currently earning car parking income using the right in a manner similar to that of other investment properties. Therefore, the primary purpose for holding this right is to earn income and for capital appreciation. Even though, the characteristic of the asset is of investment nature, it does not properly fit into the current accounting standards as investment property. The “right to receive car park revenue”, is therefore disclosed in the Statement of Financial Position as an “Other Non Current” asset.

As of 31 May 2011, PRP determined the value of the right to be $7.875 million, and the asset was written down from $9.625 to $7.875 million to maintain a fair value as of 30 June 2011.

When the asset was recognised in 2009, the company created a similar amount as deferred income as a liability in the Statement of Financial Position. This amount represented the present value of future minimum lease payments and is amortised on a straight-line basis over the period of right to earn income.

The effect of the recognition of this unique transaction as an asset and deferred income liability may appear to be not consistent with current Australian Accounting Standards. Notwithstanding this the company believes that non-disclosure of the asset and deferred income liability would not reflect the substance of the transaction may mislead a reader as to the true and fair value of the entity.

PRP are members of the Australian Institute of Valuers, and they have the appropriate qualifications and recent experience in the valuation of properties in the Redfern-Waterloo area. The valuation, which conforms to Australian Valuation Standards, was arrived at by reference to market evidence of transaction prices for similar properties. 2010-2011 Annual Report

69 NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2011

Consolidated Consolidated RWA RWA 2011 2010 2011 2010 $’000 $’000 $’000 $’000 19 Trade and other payables Current trade & other payables Accrued salaries, wages and on-costs 32 20 3 4 Trade payables (i) 3,301 3,522 854 293 Intercompany and interagency balances - - 95 811 Event and Tenant deposits 1,249 966 - - Lease Incentive Deferred Income - - - - Other Payables 217 193 - - 4,798 4,701 951 1,108

(i) The average credit period on purchase of services is 30 days. No interest has been paid in the current year. The Consolidated entity has financial risk management policies in place to ensure that all payables are paid within the credit timeframe.

20 Provisions Employee benefits and related on-costs Current Recreation leave 300 439 - - Long Service leave 236 415 - - 535 854 - - Non-Current Defined Superannuation Benefits Plan 170 117 - - Long Service leave 87 72 - - 257 189 - -

Total employee benefits 792 1,043 - -

Provision - remediation costs - current carrying amount at start of year 41 1,079 - - unused amounts reversed - - - - amounts used during the year (41) (1,038) - - remediation costs - - - - - 41 - - Provision for Council rates 490 - - -

Total provisions 1,282 1,084 - - Redfern-Waterloo Authority

Redfern-Waterloo Authority Financials

70 NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2011

Consolidated Consolidated RWA RWA 2011 2010 2011 2010 $’000 $’000 $’000 $’000 21 Borrowings Current 10 Year fixed interest loan from NSW 407 407 407 407 Treasury Corporation 407 407 407 407

Non-Current 10 Year fixed interest loan from NSW 3,373 3,780 3,373 3,780 Treasury Corporation Floating rate Borrowings from NSW 34,996 39,996 34,996 39,996 Treasury Corporation Finance lease liability 38,369 43,776 38,369 43,776

Borrowings from NSW Treasury Corporation are unsecured and currently bear interest at 4.9 % (2009: 3.8 %) per annum. The borrowings are currently at a floating rate. The total loan facility is for $47.5m.

In May 2010, the Authority’s Board approved commencement of a discretionary debt reduction strategy for the floating rate loan facility. Since then the Board has approved for a $5m debt repayment to be made annually. An initial payment of $5m was made in February 2011.

The 10 year fixed interest rate loan relates to the fitout costs recoverable from the Department of Defence over the term of the lease (refer note 8(ii)).

22 Deferred lease revenue Current 109 109 - - Non-current 9,297 9,403 - - Total deferred lease revenue 9,406 9,512 - -

23 Accumulated funds Balance at the beginning of year 178,992 186,940 142,156 152,028 Prior Year adjustment 31 - (2,566) - (3,270) Total comprehensive income for the year 21,295 (5,382) 18,247 (6,602) Balance at end of financial year 200,286 178,992 160,402 142,156 2010-2011 Annual Report

71 NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2011

24 Subsidiaries

Name of entity Country of Incorporation 2011 2010 % % Australian Technology Park Sydney Limited Australia, NSW 100 100 The Office of Redfern-Waterloo Authority Australia, NSW - -

The Company is incorporated in Australia and is responsible for the day-to-day management of the Australian Technology Park located at Eveleigh in Sydney, NSW. The Company also provides financial services to the Authority on a contracted fee-for-services basis.

The Office is a division of the Government Service and provides personnel services to the Authority.

25 Notes to the Statement of Cash flows (a) Reconciliation of Statement of cash flows For the purposes of the cash flow statement, cash includes cash on hand and in banks and liquid investment in NSW Treasury Corporation “Hour-Glass” cash facility. Cash at the end of the financial year as shown in the Statement of cash flows is reconciled to the related items in the Statement of financial positions as follows:

Consolidated Consolidated RWA RWA 2011 2010 2011 2010 $’000 $’000 $’000 $’000

Cash and cash equivalents (Note 11) 57,102 52,283 27,570 20,062

(b) Reconciliation of surplus/(deficit) for the year to net cash from operating activities

Surplus/(deficit) for the year 21,356 ( 5,349) 18,248 ( 6,602) from continuing operations Depreciation of property, plant and equipment 1,121 1,885 126 1,156 Amortisation of deffered revenue (109) ( 109) - - Changes in fair value of assets (3,500) 18,715 (3,353) 18,832 Straight-line of operating lease income on land - - (1,295) ( 997) Allowance for impairments on receivables 30 ( 43) - - Unwinding of discount on finance lease - - - ( 283) receivable from subsidiary Decrease/(Increase) in trade and (6,181) 53 (6,075) 462 other receivables (Decrease)/Increase in trade and other 236 524 (158) 56 payables and provisions Net cash flows from operating activities 12,953 15,676 7,493 12,624 Redfern-Waterloo Authority

Redfern-Waterloo Authority Financials

72 NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2011

Consolidated Consolidated RWA RWA 2011 2010 2011 2010 $’000 $’000 $’000 $’000 26 Commitments for Expenditure Capital Commitments Aggregate capital expenditure for the acquisition of property, plant and equipment contracted for at balance date and not provided for:

Payable within one year (inclusive of GST) 3,927 1,076 - -

The commitments arising within the Controlled Entity, include GST of 324.5k (2010: $98k), which is expected to be recovered from the Australian Taxation Office.

27 Contingent Liabilities The controlled entity Australian Technological Park Sydney Limited is seeking confirmation of its existing tax and rates exemptions from the relevant Authorities. Until the outcome of these matters is known, there is uncertainty relating to the extent to which liabilities for rates and taxes, if any, should be recognised in the consolidated financial statements.

28 Financial instruments The Authority's principal financial instruments, and the main risks associated with them, are outlined below. The financial instruments arise directly from the Authority's trading activities and operations. The Authority does not enter into or trade in financial instruments for speculative purposes.

Financial instrument categories Financial assets Cash & deposits 15,789 11,997 12,638 10,692 NSW Treasury Corp “Hour-glass” 41,312 40,286 14,931 9,370 cash facility deposits Trade & other receivables 6,833 682 6,617 542 Investment in subsidiary - - 21,465 21,465 Loans receivable 3,780 4,187 38,339 43,776 67,715 57,151 93,991 85,845

Financial liabilities Trade & other payables 4,798 4,701 951 1,108 Borrowings 38,776 44,183 38,776 44,183 43,574 48,883 39,727 45,291

The following tables detail the Authority and the Consolidated entity’s remaining contractual maturity for its financial liabilities. The tables have been drawn up based on the undiscounted cash flows of financial liabilities based on the earliest date on which the Authority and the Consolidated entity can be required to pay. The table includes both interest and principal cash flows and spot rates at the year-end have been used to project interest payments in respect of the variable rate loans. 2010-2011 Annual Report

73 NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2011

Weighted less than 1-5 Years 5+ years average 1 year effective interest rate Consolidated % $000 $000 $000 2011 Non interest bearing trade payables - 4,798 - - Fixed rate loan from the Treasury Corporation 7.24% 437 2,100 1,243 Variable rate loan from the Treasury Corporation 4.99% - - 34,996 5,235 2,100 36,239 2010 Non interest bearing trade payables - 4,701 0 Fixed rate loan from the Treasury Corporation 7.24% 696 2,088 2,726 Variable rate loan from the Treasury Corporation 3.81% - - 40,107 5,397 2,088 42,833 Authority 2011 Non interest bearing trade payables - 951 - - Fixed rate loan from the Treasury Corporation 7.24% 437 2,100 1,243 Variable rate loan from the Treasury Corporation 4.99% - - 34,996 1,388 2,100 36,239 2010 Non interest bearing trade payables - 1,105 - - Fixed rate loan from the Treasury Corporation 7.24% 696 2,088 2,726 Variable rate loan from the Treasury Corporation 3.81% - - 40,107 1,801 2,088 42,833

As disclosed in note 21, an arrangement is in place between the parent and the NSW Treasury Corporation to refinance the loan in June 2010 over 25 years either at fixed interest or a floating interest rate. The 10 year fixed interest rate loan pertains to the fitout costs recoverable from the Department of Defence over the term of the lease (refer note 15)

(f) Net fair values of financial assets and liabilities

The fair values of financial assets and liabilities are determined in accordance with generally accepted pricing modelsbased on discounted cash flow analysis using prices from observable current market transactions.

The carrying amount of financial assets and financial liabilities recorded in the financial statements approximate their net fair values. Redfern-Waterloo Authority

Redfern-Waterloo Authority Financials

74 NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2011

29 Defined benefit Superannuation Funds Accounting Policy

Actuarial gains and losses are recognised immediately in other comprehensive income in the year in which it occurs.

Fund information

• The Pooled Fund holds in trust the investments of the closed NSW public sector superannuation schemes: • • State Authorities Superannuation Scheme (SASS) • • State Superannuation Scheme (SSS) • • Police Superannuation Scheme (PSS) • • State Authorities Non-contributory Superannuation Scheme (SANCS). These schemes are all defined benefit schemes - at least a component of the final benefit is derived from a multiple of member salary and years of membership.

All these schemes are now closed to members

Superannuation Funds (a) Defined Benefit Scheme as at 30 June (AASB 119 Employee Benefits)

2011 SASS SANCS SSS Total Member numbers: Contributors 1 1 - 2 Deferred benefits - - - - Pensioners - - - - Pensions fully commuted - - - -

Superannuation Position for AASB 119 purposes: $ ‘000 $ ‘000 $ ‘000 $ ‘000

Accrued liability 83 146 - 229 Estimated reserve account balance (24) (35) - (59) 59 111 - 170 Future Service Liability (Note 1) (13) (49) - (62) Surplus in excess of recovery available from schemes - - - - Net liability recognised in statement of financial position 59 111 - 170 2010-2011 Annual Report

75 NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2011

2010 SASS SANCS SSS Total Member numbers: Contributors 2 2 - 4 Deferred benefits - - - - Pensioners - - ` - Pensions fully commuted - - - -

Superannuation Position for AASB 119 purposes: $ ‘000 $ ‘000 $ ‘000 $ ‘000

Accrued liability 292 248 - 540 Estimated reserve account balance (238) (146) - (385) 54 101 - 156 (56) (150) - (205) Future Service Liability (Note 1) - - - - Surplus in excess of recovery available from schemes 54 101 - 156 Net liability recognised in statement of financial position 54 101 - 156 Redfern-Waterloo Authority

Redfern-Waterloo Authority Financials

76 NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2011

29 Defined benefit Superannuation Funds (CONTINUED) (b) Reconciliation of the present value of the defined benefit obligation:

SASS SANCS SSS $ ‘000 $ ‘000 $ ‘000 Present value of partly funded defined benefit 292 248 - obligations at the beginning of the year Current service cost 9 4 - Interest cost 15 13 - Contribution by Fund participants 3 - - Actuarial (gains)/losses (18) 4 - Benefits paid (219) (122) - Past service cost - - - Curtailments - - - Settlements - - - Business combinations - - - Exchange rate changes - - - Present value of partly funded defined benefit 83 146 - obligations at the end of the year

SASS SANCS SSS $ ‘000 $ ‘000 $ ‘000 Present value of partly funded defined benefit 64 110 - obligations at the beginning of the year Current service cost 5 1 - Interest cost 4 6 - Contribution by Fund participants 1 - - Actuarial (gains)/losses 62 17 - Benefits paid 156 114 - Past service cost - - - Curtailments - - - Settlements - - - Business combinations - - - Exchange rate changes - - - Present value of partly funded defined benefit 292 248 - obligations at the end of the year

Note: The Future Service Liability (FSL) does not have to be recognised by an employer. It is only used to determine if an asset ceiling limit should be imposed (AASB 119, para 58). Under AASB 119, any prepaid superannuation asset recognised cannot exceed the total of any unrecognised past service cost and the present value of any economic benefits that may be available in the form of refunds from the plan or reductions in future contributions to the plan. Where the “surplus in excess of recovery” is zero, no asset ceiling limit is imposed.

(c) Reconciliation of fair value of fund assets 2010-2011 Annual Report

77 NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2011

SASS SANCS SSS 2011 $ ‘000 $ ‘000 $ ‘000 Fair value of fund assets at beginning of year 238 146 - Expected return on fund assets 20 13 - Actuarial gains/(losses) (68) (6) - Employer contributions 50 4 - Contributions by Fund particpants 3 - - Benefits paid (219) (122) - Settlements - - - Business combinations - - - Exchange rate changes - - - Fair value of Fund assets at end of the year 24 35 -

SASS SANCS SSS 2010 $ ‘000 $ ‘000 $ ‘000 Fair value of fund assets at beginning of year 26 31 - Expected return on fund assets 2 2 - Actuarial gains/(losses) 51 (4) - Employer contributions 2 3 - Contributions by Fund particpants 1 - - Benefits paid 156 114 - Settlements - - - Business combinations - - - Exchange rate changes - - - Fair value of Fund assets at end of year 238 146 - Redfern-Waterloo Authority

Redfern-Waterloo Authority Financials

78 NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2011

29 Defined benefit Superannuation Funds (CONTINUED) (d) Reconciliation of assets & liabilities recognised in Statement of financial position SASS SANCS SSS 2011 $ ‘000 $ ‘000 $ ‘000 Present value of partly funded defined benefit 83 146 - obligation at end of year Fair value of fund assets at end of year (24) (35) - Sub-total 59 111 - Unrecognised past service cost - - - Unrecognised gain/(loss) - - -

SASS SANCS SSS 2010 $ ‘000 $ ‘000 $ ‘000 Present value of partly funded defined benefit 292 247 - obligation at end of year Fair value of fund assets at end of year (238) (146) - Sub-total 54 101 - Unrecognised past service cost - - - Unrecognised gain/(loss) - - - Adjustment for limitation on net asset - - - Net Liability recognised in statement of financial 54 101 - position at end of year 2010-2011 Annual Report

79 NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2011

(e) Expense recognised in statement of comprehensive income SASS SANCS SSS 2011 $ ‘000 $ ‘000 $ ‘000 Components recognised in Statement of comprehensive Income Current service cost 9 4 - Interest cost 15 13 - Expected return on Fund assets (net of expenses) (20) (13) - Actuarial losses/(gains) recognised in year - - - Past service cost - - - Movement in adjustment for limitation on net asset - - - Curtailment or settlement (gain)/loss - - - Expense/(income) recognised 4 4 -

SASS SANCS SSS 2010 $ ‘000 $ ‘000 $ ‘000 Components recognised in Statement of comprehensive Income Current service cost 5 0 - Interest cost 3 6 - Expected return on Fund assets (net of expenses) (2) (3) - Actuarial losses/(gains) recognised in year - - - Past service cost - - - Movement in adjustment for limitation on net asset - - - Curtailment or settlement (gain)/loss - - - Expense/(income) recognised 6 4 0

(f) Amounts recognised in other comprehensive income SASS SANCS SSS 2011 $ ‘000 $ ‘000 $ ‘000 Actuarial losses/(gains) recognised in year 50 10 - Adjustment for limit on net asset - - -

SASS SANCS SSS 2010 $ ‘000 $ ‘000 $ ‘000 Actuarial losses/(gains) recognised in year 11 22 - Adjustment for limit on net asset - - - Redfern-Waterloo Authority

Redfern-Waterloo Authority Financials

80 NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2011

29 Defined benefit Superannuation Funds (CONTINUED) (g) Fund assets

Percentage of funds invested in each asset class 30-Jun-11 30-Jun-10 at end of the year: Australian equities 33.4% 31.0% Overseas equities 29.5% 26.8% Australian fixed interest securities 5.7% 6.1% Overseas fixed interest securities 3.1% 4.3% Property 9.9% 9.5% Cash 5.1% 9.6% Other 13.3% 12.7%

Fair value of fund assets All funds are invested by STC at arm’s length through independent fund managers.

Expected rate of return The expected return on assets assumption is determined by weighting the expected long-term return for each asset class by the target allocation of assets to each class. The returns used for each class are net of investment tax and investment fees.

(h) Actual return on Fund assets SASS SANCS SSS $ ‘000 $ ‘000 $ ‘000 Financial year ended 30 June 2011 12 7 - Financial year ended 30 June 2010 (4) (1) - 2010-2011 Annual Report

81 NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2011

Valuation method and principal actuarial assumptions at the balance sheet date {AASB 119 - paragraph 120A(n)}

a) Valuation Method The Projected Unit Credit (PUC) valuation method was used to determine the present value of the defined benefit obligations 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 as at 30 June 2011 2010 Salary increase rate (excluding promotional increases) 3.5% pa 3.5% pa Rate of CPI Increase 2.5% pa 2.5% pa Expected rate of return on assets 8.60% 8.6% Expected rate of return on assets backing other liabilities 2.5% pa 5.28% pa Discount rate 5.28% pa 5.2%

c) Demographic Assumptions The demographic assumptions at 30 June 2010 are those that will be used in the 2010 triennial actuarial valuation. The triennial review report will be available from the NSW Treasury website. Redfern-Waterloo Authority

Redfern-Waterloo Authority Financials

82 NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2011

29 Defined benefit Superannuation Funds (CONTINUED) (i) Historical Information SASS SANCS SSS 2011 $ ‘000 $ ‘000 $ ‘000 Present value of defined benefit obligations 83 146 - Fair value of Fund assets (24) (35) - (Surplus)/deficit in fund 59 111 - Experience adjustments - Fund liabilities (18) 4 - Experience adjustments - Fund assets 68 6 -

SASS SANCS SSS 2010 $ ‘000 $ ‘000 $ ‘000 Present value of defined benefit obligations 293 248 - Fair value of Fund assets (238) (146) - (Surplus)/deficit in fund 54 101 - Experience adjustments - Fund liabilities 62 18 - Experience adjustments - Fund assets (51) 4 -

SASS SANCS SSS 2009 $ ‘000 $ ‘000 $ ‘000 Present value of defined benefit obligations 64 110 - Fair value of Fund assets (26) (31) - (Surplus)/deficit in fund 38 79 - Experience adjustments - Fund liabilities (79) 30 - Experience adjustments - Fund assets 231 22 -

SASS SANCS SSS 2008 $ ‘000 $ ‘000 $ ‘000 Present value of defined benefit obligations 465 143 0 Fair value of Fund assets (464) (114) - (Surplus)/deficit in fund 1 29 - Adjustment for limitation on net assets - - -

2007 Present value of defined benefit obligations 56 81 0 Fair value of Fund assets (308) (112) - (Surplus)/deficit in fund (252) (31) - Experience adjustments - Fund assets 223 27 - 2010-2011 Annual Report

83 NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2011

(j) Expected contributions SASS SANCS SSS $ ‘000 $ ‘000 $ ‘000 2011 to be paid in next reporting period 6 8 -

2010 to be paid in next reporting period 23 8 -

(ii) SASS Contributors - the number of SASS contributors expected in any one year (out of 10,000 members), at the ages shown, to leave the fund as a result of death, disability, resignation, retirement and redundancy. Promotional salary increase rates are also shown. (iii) SSS Contributors - the number of SSS contributors expected in any one year (out of 10,000 members), at the ages shown, to leave the fund as a result of death, disability, resignation, retirement and preservation. Promotional salary increase rates are also shown. (iv) SSS Commutation - the proportion of SSS members assumed to commute their pension to a lump sum in any one year. (v) SSS Pensioner Mortality - assumed mortality rates (in 2006/2007) for SSS pensioners (separately for normal retirement/spouses and invalidity) (vi) SSS Pensioner Mortality Improvements - per annum assumed rates of mortality improvement for SSS pensioners

(k) Valuation method and principal actuarial assumptions at the balance sheet date i) Valuation Method

The Projected Unit Credit (PUC) valuation method was used to determine the present value of the defined benefit obligations 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.

ii) Economic Assumptions (a) Surplus/deficit The following is a summary of the 30 June 2011 financial position of the Fund calculated in accordance with AAS 25 Redfern-Waterloo Authority

Redfern-Waterloo Authority Financials

84 NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2011

29 Defined benefit Superannuation Funds (CONTINUED) (k) Valuation method and principal actuarial assumptions at the balance sheet date SASS SANCS SSS 2011 $ ‘000 $ ‘000 $ ‘000 Accrued benefits 79 136 - Net market value of Fund assets (24) (35) - Net (surplus)/deficit 55 101 -

SASS SANCS SSS 2010 $ ‘000 $ ‘000 $ ‘000 Accrued benefits 261 217 - Net market value of Fund assets (238) (146) - Net (surplus)/deficit 23 71 -

(l) Contribution recommendations SASS SANCS SSS Recommended contribution rates for the entity are: multiple of % member multiple of member salary member contributions contributions 2011 1.90 2.50 - 2010 1.90 2.50 -

(c) Funding method Contribution rates are set after discussions between the employer, STC and NSW Treasury.

(d) Economic assumptions

The economic assumptions adopted for the 2010 actuarial review of the Fund are: Weighted-Average Assumptions 30-Jun-11 30-Jun-10 Expected rate of return on Fund assets backing current 8.3% pa 8.3% pa pension liabilities Expected rate of return on Fund assets backing other liabilities 7.3% pa 7.3% pa Expected salary increase rate 4.0% pa 4.0% pa Expected rate of CPI increase 2.5% pa 2.5% pa

Nature of asset/liability If a surplus exists in the employer’s interest in the Fund, the employer may be able to take advantage of it in the form of a reduction in the required contribution rate, depending on the advice of the Fund’s actuary.

Where a deficiency exists, the employer is responsible for any difference between the employer’s share of Fund assets and the defined benefit obligation. 2010-2011 Annual Report

85 NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2011

30 Events after the balance date On 5 September 2011 the New South Wales Government has approved the winding up of Redfern Waterloo Authority. When wound up, all assets and liabilities, rights and obligations will be transferred to the Sydney Metropolitan Authority. This will also lead to winding up of Office of Redfern Waterloo Authority and transfer all employees to the Office Sydney Metropolitan Authority.

31 Prior year adjustment The company has identified the following prior period errors and the necessary corrections have been made as required by AASB 108 Accounting Policies, Changes in Accounting Estimates and Errors as following:

• The amount of the correction for each financial line affected.

• The amount of the correction at the beginning of the earliest prior period presented.

a) In 2008-09, the controlled entity received the right to use 350 car park spaces valued at $9.63 million under an operating lease in a commercial development agreement. This was recognised as leasehold improvements with a corresponding deferred lease revenue liability. As part of review of leases during the year, it was identified that the recognition of asset as leasehold improvements was not consistent with the accounting standards. The entity reclassified as Other assets.

b) As part of the review of leases during the year, the Authority identified that the lease incentive asset was not excluded from the fair value assessment of investment property as required in Australian Accounting Standards (AASB140.50c). The Controlled Entity has corrected this error by transferring the lease receivable asset to accumulated funds. In addition the Authority has corrected the error of recognising operating lease receivable by transferring the lease receivable asset to accumulated funds.

c) The review of leases also identified an incorrect land value was applied in the computation of lease receivable on a straight-line method. A land value of $17.3 million instead of $25.0 million was used. As a result of this, the Authority corrected the lease receivable balance in the Statement of Comprehensive Income.

d) In 2009- 10 financial year, an error of $ 773,000 was made by overstating the creditors in the consolidated entity due to incorrect elimination of transactions between the Authority and the Company. The error was corrected in the comparative period. Redfern-Waterloo Authority

Redfern-Waterloo Authority Financials

86 NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2011

31 Prior year adjustment (CONTINUED) (a) Correction of a Prior period error in the consolidated entity

30 June 2010 Comparative year Financial Statement Line Item Actual Correction of Restated -Statement of Comprehensive Income 2010 Error Actual 2010 Note $’000 $’000 $’000 Other expenses (d) (12,937) 773 (12,164) Depreciation and amortisation (a) (1,997) 113 (1,884) Valuation decrement (b) (18,475) (240) (18,715) Total expenditure (43,031) 646 (42,385) Surplus/(deficit) for the year (5,995) 646 (5,349) Total comprehensive income/(deficit) for the year (6,028) 646 (5,382)

Financial Statement Line Item- Actual Correction of Restated Statement of Financial Position 2010 Error Actual 2010 $’000 $’000 $’000 Lease incentive asset (b) 540 (540) - Total current assets 53,912 (540) 53,372 Other Assets (a) - 9,625 9,625 Property, plant and equipment (a) 22,708 (9,513) 13,195 Lease incentive asset (b) 2,265 (2,265) - Total non-current assets 187,253 (2,153) 185,100 Total assets 241,165 (2,693) 238,472 LIABILITIES Current liabilities Trade and other payables (d) 5,474 (773) 4,701 Total current liabilities 6,885 (773) 6,112 Total liabilities 60,253 (773) 59,480 Net assets 180,912 (1,920) 178,992 EQUITY Accumulated funds (a),(b)&(d) 180,912 (1,920) 178,992 Total equity 180,912 (1,920) 178,992 2010-2011 Annual Report

87 NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2011

31 Prior year adjustment (CONTINUED) Financial Statement Line Item in Actual Correction of Restated (a) Correction of a Prior period error in the consolidated entity Statement of Changes in Equity 2010 Error Actual 2010 $’000 $’000 $’000

30 June 2010 Comparative year Total comprehensive deficit for (a),(d)&(b) (6,028) 646 (5,382) the year Financial Statement Line Item Actual Correction of Restated Accumulated funds balance (a),(b)&(d) 186,940 (2,566) 184,374 -Statement of Comprehensive Income 2010 Error Actual 2010 Balance of equity at the 180,912 (1,920) 178,992 Note $’000 $’000 $’000 end of year Other expenses (d) (12,937) 773 (12,164) Depreciation and amortisation (a) (1,997) 113 (1,884) Financial Statement Line Item- Note Actual Correction of Restated Valuation decrement (b) (18,475) (240) (18,715) Statement of Financial Position 2010 Error Actual 2010 Total expenditure (43,031) 646 (42,385) $’000 $’000 $’000 Surplus/(deficit) for the year (5,995) 646 (5,349) 30 June 2009 Comparative Total comprehensive income/(deficit) for the year (6,028) 646 (5,382) year Opening Balances Lease incentive asset (b) 470 (470) -

Financial Statement Line Item- Actual Correction of Restated Total current assets 40,060 (470) 39,590 Statement of Financial Position 2010 Error Actual 2010 Other Assets (a) - 9,625 9,625 $’000 $’000 $’000 Property, plant and equipment (a) 23,274 (9,625) 13,649 Lease incentive asset (b) 540 (540) - Lease incentive asset (b) 2,095 (2,095) - Total current assets 53,912 (540) 53,372 Total non-current assets 206,380 (2,095) 204,285 Other Assets (a) - 9,625 9,625 Total assets 246,440 (2,565) 243,875 Property, plant and equipment (a) 22,708 (9,513) 13,195 Net Assets 186,940 (2,565) 184,375 Lease incentive asset (b) 2,265 (2,265) - Total non-current assets 187,253 (2,153) 185,100 Equity a&b 186,940 (2,565) 184,375 Total assets 241,165 (2,693) 238,472 LIABILITIES Current liabilities Trade and other payables (d) 5,474 (773) 4,701 Total current liabilities 6,885 (773) 6,112 Total liabilities 60,253 (773) 59,480 Net assets 180,912 (1,920) 178,992 EQUITY Accumulated funds (a),(b)&(d) 180,912 (1,920) 178,992 Total equity 180,912 (1,920) 178,992 Redfern-Waterloo Authority

Redfern-Waterloo Authority Financials

88 NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2011

31 Prior year adjustment (CONTINUED) (b) Correction of a Prior period error in RWA

30 June 2010 Comparative year Financial Statement Line Item -Statement of Actual Correction of Restated Comprehensive Income Note 2010 Error Actual 2010 Operating Lease c 766 231 997 Sales and Services Income 766 231 997 Total Income 21,369 231 21,600 Valuation Decrement c (17,835) (997) (18,832) Investment Property Total Expenditure (27,205) (997) (28,202) Deficit for the year c (5,836) (766) (6,602) Total Comprehensive Income for the Year (5,836) (766) (6,602)

Financial Statement Line Item -Statement of Financial Position Lease Receivable Operating lease receivables (b) 4,037 (4,037) - Lease Receivables 9,387 (4,037) 5,350 Total Non Current Asset 170,879 (4,037) 166,842 Total Assets 191,485 (4,037) 187,448 Net Assets 146,193 (4,037) 142,156 Equity Accumulated Fund 146,193 (4,037) 142,156

Financial Statement Line Actual Correction of Restated Item in Statement of Changes in Equity 2010 Error Actual 2010 $’000 $’000 $’000 Total comprehensive deficit for c (5,836) (766) (6,602) the year Accumulated funds balance (b) 152,028 (3,270) 148,758 Balance of equity at the end of year b &c 146,192 (4,036) 142,156 2010-2011 Annual Report

89 NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2011

31 Prior year adjustment (CONTINUED) (c) 30 June 2009 Comparative year Opening Balances (b) Correction of a Prior period error in RWA Note Actual Correction of Restated 2010 Error Actual 2010

30 June 2010 Comparative year $’000 $’000 $’000 Financial Statement Line Financial Statement Line Item-Statement of Item -Statement of Actual Correction of Restated Financial Position Comprehensive Income Note 2010 Error Actual 2010 Operating lease receivables (b) 3,270 (3,270) - Operating Lease c 766 231 997 Lease Receivables 8,338 (3,270) 5,068 Sales and Services Income 766 231 997 Total Non Current Asset 189,181 (3,270) 185,911 Total Income 21,369 231 21,600 Total Assets 197,641 (3,270) 194,371 Valuation Decrement c (17,835) (997) (18,832) Net Assets 152,028 (3,270) 148,758 Investment Property Equity Total Expenditure (27,205) (997) (28,202) Accumulated Fund (b) 152,028 (3,270) 148,758 Deficit for the year c (5,836) (766) (6,602) Total Comprehensive Income for the Year (5,836) (766) (6,602)

END OF AUDITED FINANCIAL STATEMENTS Financial Statement Line Item -Statement of Financial Position Lease Receivable Operating lease receivables (b) 4,037 (4,037) - Lease Receivables 9,387 (4,037) 5,350 Total Non Current Asset 170,879 (4,037) 166,842 Total Assets 191,485 (4,037) 187,448 Net Assets 146,193 (4,037) 142,156 Equity Accumulated Fund 146,193 (4,037) 142,156

Financial Statement Line Actual Correction of Restated Item in Statement of Changes in Equity 2010 Error Actual 2010 $’000 $’000 $’000 Total comprehensive deficit for c (5,836) (766) (6,602) the year Accumulated funds balance (b) 152,028 (3,270) 148,758 Balance of equity at the end of year b &c 146,192 (4,036) 142,156 Redfern-Waterloo Authority

Appendices

90 CHARTER The RWA was formed under the Redfern-Waterloo Authority Act 2004.

CHIEF AND SENIOR EXECUTIVE OFFICER Mr Roy Wakelin-King was Chief and Senior Executive Officer with the RWA during the 2010-2011 Financial Year. Chief Executive Officer - SES Level 7 Roy Wakelin-King $342,317

STAFF NUMBERS BY EMPLOYMENT BASIS AS AT 30 JUNE 2011

Permanent Temporary Full-Time Part-Time Casual

Staff 3 3 4 2 - % 50% 50% 67% 33% - Men - 3 3 - - Women 3 - 1 2 - Aboriginal person or Torres Strait Islander 1 2 2 1 - Person with a disability - - - - - Person from a racial, ethnic or ethno-religious Minority group - - - - - People whose first language is not English - - - - -

STAFF NUMBERS BY LEVEL

Men Women Total

<$39,670 - 1 1 $39,670 - $63,781 - - - $63,782 - $86,498 - 1 1 $86,499 - $98,159 - - - $98,160 - $119,149 3 - 3 >$119,120 (non SES) 1 - 1 2010-2011 Annual Report

STAFF NUMBERS BY EMPLOYMENT BASIS AS AT 30 JUNE 2010 91

Permanent Temporary Full-Time Part-Time Casual

Staff 15 6 21 1 1 % 68% 27% 95% - 5% Men 7 1 8 - - Women 8 5 13 - 1 Aboriginal person or Torres Strait Islander 2 1 3 - - Person with a disability - - - - - Person from a racial, ethnic or ethno-religious Minority group - 1 1 - - People whose first language is not English 4 1 5 - -

STAFF NUMBERS BY LEVEL Men Women Total

$60,584 - $78,345 1 5 6 $78,346 - $97,932 2 5 7 >$97,932 4 4 8 >$97,932 (SES) 1 - 1

STAFF NUMBERS BY EMPLOYMENT BASIS AS AT 30 JUNE 2009

Permanent Temporary Full-Time Part-Time Casual

Staff 9 3 10 2 - % 75% 25% 83% 17% - Men 2 2 4 - - Women 7 1 6 2 - Aboriginal person or Torres Strait Islander 1 - - - - Person with a disability - - - - - Person from a racial, ethnic or ethno-religious Minority group - 1 1 - - People whose first language is not English 2 - 2 - -

STAFF NUMBERS BY LEVEL Men Women Total

$46,320 - $51,783 - 1 1 $51,784 - $65,526 - 1 1 $65,527 - $84,737 2 3 5 $84,738 - $105,923 1 2 3 $ - $105,923 (non SES) 1 2 3 $ - $105,923 (SES) 1 - 1 Redfern-Waterloo Authority

Appendices

92 LEGISLATIVE CHANGES GOVERNMENT INFORMATION PUBLIC ACCESS (GIPA) ACT 2009 Nil to report. On 1 July 2010 the Government Information Public OVERSEAS TRAVEL & Access (GIPA) Act 2009, a new right to information CORPORATE CREDIT CARDS legislation, came into effect. This replaces the former Nil to report Freedom of Information Act 1989. RESEARCH AND DEVELOPMENT The new law: Nil to report. • Creates new rights to information that are designed to meet community expectations of more open and PAYMENT OF ACCOUNTS transparent government; and All agreed accounts were settled in a timely manner. • Encourages government agencies to proactively release government information. CORPORATE SERVICES During the reporting period, no requests were made Finance, accounting services were provided to to the RWA under the GIPA Act. In the previous RWA by the finance division of the Australian financial year no requests were received under the Technology Park. Freedom of Information Act. In the same period, no RISK MANAGEMENT major issues arose, and there were no investigations or applications for review submitted. The RWA has a Business Risk Map of its operations. The primary objective of the Business Risk Map is to Members of the public may contact the RWA and ask coordinate risk management activities within the RWA for information. This is known as an informal request. to ensure the activity is focused on areas of greatest RWA may release information informally, subject to risk and is also used by Business Audit to derive its any reasonable conditions. Please note that copy strategic audit plan. charges apply ($1.10 per A4 sheet). The RWA is a member of the NSW Treasury Application for formal access to RWA information under Managed Fund (TMF) which provides insurable the GIPA Act can be made by lodging a formal Access risk protection. Application Form, along with a $30 application fee. Processing charges cost $30 per hour after the first hour. The RWA, their employees and volunteers are An internal review of a reviewable decision costs $40. fully covered for their legal liability, for workers compensation, motor vehicles, public liability, property Applicants should be precise about the information loss/damage and other insurances in accordance with they want to access so as to enable the correct the TMF Contract of Coverage. information to be identified. RWA have assigned fire wardens who attended Applications should be directed to: training throughout the year and all staff participated Right for Information Officer in emergency evacuation drills. No OH&S incidents Redfern-Waterloo Authority have arisen. PO Box 3332 Redfern NSW 2016 2010-2011 Annual Report

93 CONSULTANTS GREATER THAN $50,000 The following consultants were engaged during the 2010-2011 financial year.

Consultant Project Cost LFA (Pacific Pty Ltd Draft Built Environment Plan Stage 2 $124, 613 3D Projects Draft Built Environment Plan Stage 2 $89, 879 Yaama Barrgay Pty Ltd Training $84,876 Mediate Today Draft Built Environment Plan Stage 2 $72,627 SK Design Planning Services $54,683 Cred Community Planning Draft Built Environment Plan Stage 2 $50,027

CONSULTANTS LESS THAN $50,000 EQUAL EMPLOYMENT OPPORTUNITY POLICY (EEO) Twenty Management Services consultants were engaged costing a total of $300,681. The Authority supports and is dedicated to the principles of the EEO including: One Environment consultant was engaged costing a total of $8,100. • Fair practices in the workplace; One Training consultant was engaged costing a total • Management decisions made without bias; of $8,354. • Recognition of and respect for the social and One Finance and Accounting/Tax consultant was cultural backgrounds of all staff and clients; engaged costing a total of $25,588. • Employment practices which produce staff satisfaction, job commitment and quality LAND DISPOSAL client service; and There were no land disposals for the year ended • Improved productivity. 30 June 2011. The RWA also has a policy for the Action Plan for PLANS, POLICIES AND PROCEDURES Women along with an Aboriginal and Torres Strait Islander Employment Strategy. CODE OF CONDUCT DISABILITY ACCESS POLICY The RWA has its own Code of Conduct which was developed in accordance with the principles of ethical The RWA complies with the NSW Government and responsible decision-making and embodies the Disability framework through its Disability Access public sector values of respect for the law, the system Policy. This provides a process for the RWA to better of Government, the community and its persons, meet the needs of staff and the community in relation integrity, diligence, economy and efficiency, and to persons with a disability. The RWA is committed accountability. to ensuring all people have reasonable access to the resources and spaces governed by the Authority. The Authority’s Code of Conduct applies to all employees of RWA and other persons engaged to do ETHNIC AFFAIRS PRIORITY STATEMENT work of the Authority. The Code of Conduct conveys the standards of behaviour expected from staff which The RWA recognises and values the different linguistic, are based around the four principles of: religious, racial and ethnic backgrounds of all the people of NSW and endorses the four principles of • Respect for the law and system of government; multiculturalism as set out in the Community Relations • Respect for people; Commission and principles of the Multicultural Act 2000. • Act with honesty and integrity; and Towards this objective, the RWA will develop and implement policies sensitive to the needs of all staff • Efficient and economic use of Authority resources. and clients and ensure that its Boards and Committees reflect the multiculturalism of the community. Redfern-Waterloo Authority

Appendices

94 NSW GOVERNMENT ACTION PLAN FOR WOMEN MULTICULTURAL POLICIES AND SERVICES PROGRAM The RWA supports the NSW Government Action Plan for Women and promotes workplaces that are The RWA is committed to the NSW Principles as equitable, safe and responsive to all aspects of stated in the Community Relations Commission and women’s lives. It will also promote the position of Principles of Multiculturalism Act 2000. women in all areas of society as well as access to The RWA acknowledge the benefits that cultural, and successful outcomes for women in all parts of the linguistic and religious diversity brings to the education and training system. community and has supported the following activities that support these principles. OCCUPATIONAL HEALTH & SAFETY MANAGEMENT PLAN • Asian Moon Festival Lunch; The RWA is committed to the occupational health, • Cook Community Gardens Anniversary; safety and welfare of its employees, those contracted • Chinese New Year Festival Lunch; to perform work on its behalf and visitors to the premises. It is committed to regular consultation with • Assistance for the Yurungai Dance Project to staff and their representatives, and where necessary, attend the 7th International Children and Youth with contractors and suppliers of equipment and Theatre Festival in Turkey; and services to ensure OH&S management is of the highest standard. • Provision of Bilingual Community Educators at the seven Draft Built Environment Plan Public RWA had 0 (zero) injuries or claims under the Information Sessions. OH&S Act 2000. FOLLOWING IS A FULL LIST OF WASTE REDUCTION AND PURCHASING POLICY RWA PLANS AND POLICIES: The RWA is committed to the implementation of the - Aboriginal & Torres Strait Islander Government’s Waste Reduction and Purchasing Employment Strategy Policy (WRAPP). - Code of Conduct for Board Members RWA engages the services of an environmental management company through the NSW Government - Complaints Handling Policy Contract to manage the recycling of paper and - Corporate Credit Card Policy cardboard. RWA also recycles toner and ink cartridges. RWA purchases recycled paper for - Disability Access Policy printing purposes. - EEO Policy and Management Plan - Fraud and Corruption Prevention Strategy - Information Management and Technology Disaster Recovery Policy - New Starters Induction Program - Privacy Management Policy and Plan - Procurement Policy - Protected Disclosures Act Policy Statement - Staff Code of Conduct - Statement of Business Ethics - Risk Management Framework 2010-2011 Annual Report

95 CONTACT DETAILS Redfern-Waterloo Authority Level 11, Tower 2 1 Lawson Square Redfern NSW 2016 Telephone: +61 2 9202 9100 Reception 9am - 5pm Monday - Friday Website: www.redfernwaterloo.nsw,gov.au

Internal pages: The internal pages of this document were printed on Mega Recycled Silk A2+, an environmentally considered sheet consisting of 50% post consumer recycled waste and 50% FSC certified fibre. Mega Recycled is manufactured at the Gohrsmuhle Mill, who have their own waste water treatment plant and are ISO 14001 EMS approved. Mega Recycled is made elemental chlorine free.

Designed by Tonic Connective www.tonicconnective.com Redfern-Waterloo Authority Level 11, Tower 2 1 Lawson Square Redfern NSW 2016 PO Box 3332 Redfern 2016

T: 02 9202 9100 F: 02 9202 9111 E: [email protected] W: www.redfernwaterloo.nsw.gov.au