journey Introduction On Monday July 18, 2005, the women’s AIS road cycling team was on a training ride outside the small town of Zuelenroda in Germany. It was the final preparation ride before the Tour of Thuringen, a six-day road race event involving some of the world’s leading female cyclists. What happened next shook not only the cycling world, but Australians generally. An 18-year-old newly licensed German woman lost control of her car and ploughed into the Australian girls. Amy Gillett, a 29-year-old South Australian, was killed instantly. The other five girls – Lorian Graham, Louise Yaxley, Katie Brown, Kate Nichols and Alexis Rhodes – were all seriously injured. In the days that followed this tragedy, Cycling Australia and Amy’s husband Simon conceived the idea of setting up the Amy Gillett Foundation. Initially funds were to assist with the recovery of Amy’s injured team-mates. However, inspired in part by the response of the federal and state governments, corporate Australia and the general public, Cycling Australia and Simon Gillett approached a number of individuals, who are now present in the organisation as both Directors and Ambassadors, about forming a foundation with broader long- term preventative objectives. “On behalf of the International Olympic Committee, I would like to express my condolences to the family, friends and team-mates of Amy Gillett. They have our deepest sympathy. The world of sport is a poorer place for having lost such a multi-talented athlete. I would like to convey the IOC’s wishes for a full and speedy recovery for those team-mates of Amy’s also injured in the same accident.’’ IOC President Jacques Rogge qqqqqqqqqqqqqqqqqqqqqqqq qqqqqqqqqqqqqqqqqqqqqqqq qqqqqqqqqqqqqqqqqqqqqqqq qqqqqqqqqqqqqqqqqqqqqqqq qqqqqqqqqqqqqqqqqqqqqqqqIn Australia qqqqqqqqqqqqqqqqqqqqqqqq qqqqqqqqqqqqqqqqqqqqqqqq1.1 million qqqqqqqqqqqqqqqqqqqqqqqq qqqqqqqqqqqqqqqqqqqqqqqqbicycles qqqqqqqqqqqqqqqqqqqqqqqq qqqqqqqqqqqqqqqqqqqqqqqqwere sold qqqqqqqqqqqqqqqqqqqqqqqq qqqqqqqqqqqqqqqqqqqqqqqqlast year (more bikes than cars) qqqqqqqqqqqqqqqqqqqqqqqq qqqqqqqqqqqqqqqqqqqqqqqq qqqqqqqqqqqqqqqqqqqqqqqq qqqqqqqqqqqqqqqqqqqqqqqq qqqqqqqqqqqqqqqqqqqqqqqqand… qqqqqqqqqqqqqqqqqqqqqqqq qqqqqqqqqqqqqqqqqqqqqqqq qqqqqqqqqqqqqqqqqqqqqqqq qqqqqqqqqqqqqqqqqqqqqqqq qqqqqqqqqqqqqqqqqqqqqqqq qqqqqqqqqqqqqqqqqqqqqqqq qqqqqqqqqqqqqqqqqqqqqqqq qqqqqqqqqqqqqqqqqqqqqqqq qqqqqqqqqqqqqqqqqqqqqqqq qqqqqqqqqqqqqqqqqqqqqqqq qqqqqqqqqqqqqqqqqqqqqqqq qqqqqqqqqqqqqqqqqqqqqqqq qqqqqqqqqqqqqqqqqqqqqqqq qqqqqqqqqqqqqqqqqqqqqqqq qqqqqqqqqqqqqqqqqqqqqqqq qqqqqqqqqqqqqqqqqqqqqqqq qqqqqqqqqqqqqqqqqqqqqqqq qqqqqqqqqqqqqqqqqqqqqqqq qqqqqqqqqqqqqqqqqqqqqqqq qqqqqqqqqqqqqqqqqqqqqqqq qqqqqqqqqqqqqqqqqqqqqqqq qqqqqqqqqqqqqqqqqqqqqqqq q qqqqqqqqqqqqqqqqqqqqqqqq qqqqqqqqqqqqqqqqqqqqqqqq qqqqqqqqqqqqqqqqqqqqqqqq qqqqqqqqqqqqqqqqqqqqqqqq qqqqqqqqqqqqqqqqqqqqqqqq qqqqqqqqqqqqqqqqqqqqqqqq qqqqqqqqqqqqqqqqqqqqqqqq > qqqqqqqqqqqqqqqqqqqqqqqq qqqqqqqqqqqqqqqqqqqqqqqq qqqqqqqqqqqqqqqqqqqqqqqq qqqqqqqqqqqqqqqqqqqqqqqq qqqqqqqqqqqqqqqqqqqqqqqq 2,500 serious injuries and 35 fatalities occured involving cyclists. (the majority involved a vehicle)
Inspired by the life of Amy Gillett, we’ve decided to do something to reverse this accident trend. The “Amy Gillett Foundation” was formed to reduce the incidence of death and injury caused by the interaction between cyclists and motorists.
amy gillett
A word from Simon Gillett How we handle grief differs in all of us, but one thing is common: the pain of losing a loved one is something that doesn’t go away. We just handle the grief better as time goes by. The days following Amy’s sudden death were very difficult – not only for me, but for Amy’s parents, family and friends and those in the cycling fraternity generally. The fact that today my beautiful wife is remembered through the Amy Gillett Foundation is very humbling. When the idea of setting up the AGF was initially discussed with Graham Fredericks from Cycling Australia while we were in Germany, I never envisaged the AGF being able to achieve so much in such a short period of time. I had also never envisaged how much of their precious time and energy people from all walks of life were willing to devote to the Foundation. Today the AGF has an amazing board and a management team headed by Melinda Jacobsen that is totally focused on making the roads a safer place. The support of our Ambassadors and high-profile Patrons Mark Webber and Phil Anderson is also greatly appreciated. They are busy people leading busy lives but are still able to set time aside to help the Foundation. There is a lot to achieve in the short and medium term. Initially the over-riding factor for the AGF was for the well-being of the surviving girls. They have been able to fight back so amazingly. The focus is now on reducing death and injury caused by collisions between cyclists and other road users. The first year of the AGF has been a roller-coaster ride of emotion, relief and belief that the AGF can make a difference. Amy lived her life to the full; let’s hope through the raised awareness of road safety other Australians, young and old, are able to do the same.
“If we are to reduce the number of accidents involving cyclists on our roads, then all road users must respect each other’s rights, whether they have two wheels or four.” Mark Webber, AGF Patron
Amy Gillett Foundation 2005/06 Annual Report journey The AGF would like to acknowledge the in-kind support and generous contribution of the following organisations involved in producing our Annual Report:
• Floate Design Partners (www.floate.com.au) • Design • Mark Farrelly • Photography • James Harrison • Editing • Penfold Buscombe • Printing, Finishing and Paper Supplier
The Foundation’s Objective Core Strategies The primary objective of the Amy Gillett 1. Raise awareness among cyclists and Foundation is to reduce the incidence motorists of the AGF’s objectives using of death and injury caused by the appropriate communications strategies interaction between cyclists and motorists and media. by promoting a safe and harmonious relationship of shared respect between 2. Education of cyclists and motorists. the two groups. 3. Conduct, fund or facilitate research to inform and guide the policies and programs of the AGF.
4. Influence public policy and funding as it relates to the AGF’s objectives. Contents Chairman’s Report 12 Words from Cycling Australia 13 General Manager’s Report 14 Corporate Partners 16 18/07/05 18 Why there Needs to be a Better Way 19 Snapshot of Achievements 20 Organisation Structure 21 AGF Board of Directors 22 Board Sub-Committees and Advisory Groups 24 AGF Achievements 2005-06 26 Strategic Direction 30 Finance and Governance 32 Financial Report 33
01 spot the
Road User A
02 03
difference
Road User B
02 03
it’s all a matter of perspective
Outlook A
04 05 it’s all a matter of perspective
Outlook B
04 05
how we get there may vary
Wheel Type A
06 07 how we get there may vary
Wheel Type B
06 07 driver
but in the end we have this in common…
Simon Person A 08 09 cyclist
we all want to arrive safely
Ruth Person B
08 09 It’s about choices:
risky impatient take discord erratic disregard ignorant camouflage inattentive law breaking fast tense rage neglect
Choice A
10 11 safe tolerant give harmony predictable respect educated visible focused law abiding slow relaxed calm maintain
Choice B
10 11 Chairman’s Report Duncan Murray
Although the Amy Gillett The Board of the AGF has, from the outset, Foundation is a young been conscious that while many not-for-profit Foundations such as the AGF start with much organisation, those emotional heat, and our tragic genesis was no involved in it and our different in this regard, a significant number various stakeholders should eventually run out of momentum. be proud of the AGF’s Our first objective, therefore, and I can now achievements to date. say our first achievement, has been to build a strong and effective organisation with the appropriate structures and tools to pursue our objectives over many years. Once you have read this report, I hope you are left with a strong sense that the people involved, who are any organisation’s greatest asset, are of the appropriate calibre and, given our progress, are demonstrating sufficient commitment to ensure the AGF is now very well placed to deliver on its aspirations. The AGF’s objective is to reduce the incidence of injury and death caused by the interaction of motorists and cyclists on Australian roads. Although there are a number of very able organisations promoting cycling in Australia, there is no neutral organisation focused solely on this issue and which is concerned equally with the interests of cyclists and motorists.
12 13 Words from Cycling Australia
We hope to pursue this objective by Cycling Australia is proud of its founding encouraging a safer and more harmonious role in the establishment of the Amy Gillett relationship of shared respect between Foundation in memory of a wonderful motorists and cyclists by raising awareness athlete who inspired us all. utilising a range of communication strategies, Cycling Australia is also delighted to have conducting education, funding research and witnessed the professional progression influencing public policy. made by the AGF in its formative year. As you will read throughout this Annual Report, We have great confidence in the network the AGF’s second achievement in 2006 has of skills that has been established and therefore been to make significant inroads in a the commitment that is evident from relatively short time on these fronts, particularly all concerned in order to deliver the in relation to marketing, communications very crucial mission and objectives of activities and research. the foundation. Finally, I would like to thank Melinda I also take this opportunity to extend Jacobsen, the Board, Ambassadors, Patrons, congratulations to Jessie McLean, the our corporate partners and all those others inaugural recipient of the Amy Gillett involved in the Foundation for their passion, Scholarship. enthusiasm and support. A very genuine appreciation is extended to the Trustees and staff of the AGF for their contribution to our united cause. Cycling Australia is and remains a very willing and supportive partner.
Duncan Murray Graham Fredericks Chairman of the Board CEO
12 13 General Manager’s Report Melinda Jacobsen
The Amy Gillett Foundation As the saying goes, “from adversity, comes has commenced fortune”. And while we all wish the accident in Germany had never happened, one positive operations with vigour and, outcome has been the establishment of the with the generous support Foundation. The AGF has been working hard of many, has established a to build a solid structure and raise awareness very sustainable operation of the need for a better relationship between with important work to do cyclists and motorists on our roads. in the area of road safety. The job ahead should not be under-estimated. More than 1 million new cars are put on the road every year, as well as 1.1 million bicycles. In the majority of cases they are vying for the same space. Building the Foundation As the first General Manager of the AGF, I am extremely pleased with where the organisation is today. The successful establishment of any organisation is largely dependent on its people. I have been very fortunate to work with, and have the support of, a dedicated and knowledgeable Board whose passion and determination for success has been a driving force. Every member carries out their responsibilities as a Director with diligence and enthusiasm. The exponential growth of the AGF since its inception is testimony to the Board and particularly to the outstanding leadership of Duncan Murray. We thank him for the many hours he dedicates to the role of Chairman and for his invaluable support.
14 15 Four Board sub-committees and advisory Corporate Governance groups have been established, namely The AGF’s honorary lawyers, Lander & Rogers, Finance & Governance, Scholarships, has provided invaluable legal advice on a range Marketing & Communications and Road of matters, including partnership agreements Safety. Members are leading Australian and corporate obligations. Similarly, our experts in their field who have been very honorary accountants, Pitcher Partners, has generous in providing the AGF with technical provided exceptional financial and governance knowledge to support the development of our advice as well as ongoing accounting services strategies and activities. We thank them for and payroll. The AGF is extremely grateful to their contribution. both organisations and their staff for their ongoing support and commitment. As part of its commitment to good governance, the Board has adopted a full The AGF will continue to exercise prudent set of policies and procedures to guide the cost control, with the guidance of its Finance operations of the AGF. I am grateful to Sharon and Governance Sub-Committee, and by McHale, former CEO of the Peter MacCallum successfully engaging a range of corporate Foundation, for her guidance and expert input partners on a pro bono basis. in this regard. Looking Forward The AGF is also privileged to have a selection We have been heartened by words of of highly regarded business people as our encouragement and confirmation as to the Ambassadors. Together with Amy’s parents relevance of the organisation and the important and team-mates, these individuals have and contribution we can make to road safety. will continue to assist the AGF in identifying In the next 12 months, we look forward to partnerships and supporters across Australia. commencing with vigour our fundraising We look forward to their valuable contribution strategy, including an individual gift giving in 2007 and beyond. program, to sustain our operations and Key Achievements support our activities in the areas of For a newly formed organisation, the AGF has awareness raising, education and research. achieved a great deal, the inaugural Amy’s Ride Our Strategic Plan has identified a number in Geelong, Victoria; the announcement of our of potential stakeholders and partners with Patrons and inaugural Amy Gillett Scholarship whom we look forward to working closely recipient with support of Giant and Oakley; to progress these activities. launching a very successful TV/cinema It will be a busy year ahead. We believe we commercial with the support of Network TEN have the organisation in place that can make and Val Morgan; partnerships with Monash a difference – something of which, we are University Accident Research Centre and sure, Amy would be proud. Sweeney Research to assist with qualitative and quantitative research. Thank you to all who have supported the AGF in its early days – we look forward to your The AGF has also hosted a Road Users’ continued support. Forum, the first of its kind in Australia, which brought together a variety of representatives of the ‘road system’ to discuss issues facing road users and solutions to engender a shared respect between cyclists and motorists. We look forward to forging many new partnerships in the coming year to progress Melinda Jacobsen our Strategic Plan. General Manager
14 15 Corporate Partners
“At Lander & Rogers, we believe that our privileged professional standing confers a responsibility and strong desire to contribute to the general betterment of the community. Consistent with our core purpose and values, Lander & Rogers actively encourages participation in pro bono activities, by providing “Pitcher Partners is delighted to be legal services for community projects. associated with the Amy Gillett Foundation. Therefore, we are delighted to act for the Many of our partners, staff, clients and their Amy Gillett Foundation on a pro bono basis.’’ families are keen recreational and competitive Lander & Rogers cyclists. By providing professional services and advice and working closely with the Foundation, we hope to support them in their promotion of safe and enjoyable riding “As one of Australia’s most popular bicycle practices in Australia, which is good for us manufacturers, Giant Bicycles is committed to and good for the community.” promoting safe cycling as well as nurturing Pitcher Partners young Australian athletes. Our involvement with the Amy Gillett Foundation achieves both these objectives. We commend the AGF for its endeavours in making the roads safer for “Sweeney Research has been actively all Australians, and we’re delighted to be involved in road safety matters since 1989 supporting the Amy Gillett Scholarship recipient when it was appointed the main researcher with good equipment to ensure their success in on road safety for the TAC, a relationship that the racing scene, nationally and internationally.’’ still continues. When Sweeney Research was Giant Bicycles introduced to the AGF earlier this year, we were so impressed with the both the organisation itself and its objectives that we offered our assistance on a pro bono “Network Ten is proud to support positive basis immediately.” community messages. The need to improve Sweeney Research safety on our roads for all road users is an important message and Network Ten is pleased to be a major supporter of the Amy Gillett Foundation with airtime of its “Val Morgan is happy to help the Amy Gillett Community Service Announcement and Foundation with cinema coverage of their ultimately a range of program initiatives.’’ Community Service Announcement. TEN We hope this helps drivers change their thoughts and behaviour about how to deal with cyclists on the road.” Val Morgan
16 17 The AGF thanks the following corporate partners for their generous support
16 17 18/07/05
Following the tragic events of July 18, 2005, Katie Brown: the outpouring of grief for Amy and the rode in Amy’s Ride on Saturday 7 January and support for the surviving five riders one day looks forward to riding competitively. was overwhelming. She was a guest commentator at the Commonwealth Games for the track and The five girls who survived were very lucky. road cycling events and enjoyed this The injuries to Lorian Graham, Louise Yaxley, experience so much, Katie is progressing Katie Brown, Kate Nichols and Alexis Rhodes a career in the media. were, in some cases, very traumatic. It is testament to their human spirit and Louise Yaxley: determination that they have been able to continues to receive treatment on her arms fight back. and wrists to regain full range of movement. She’s had her first ride on a stationary bike. Once the Amy Gillett Foundation was Louise has recently completed her Level 2 announced by Cycling Australia and Simon Coaching Certificate and is considering Gillett, just a few days after the crash, the returning to teaching. On a personal note, Australian public, state and federal Louise and Mark Padget will marry in governments and sporting organisations November 2006! rallied behind the cause and generously donated over $400,000. Initially the funds Lorian Graham: were raised to help the girls on their road to has had a number of operations to regain full recovery, but the AGF has grown into so extension in her injured leg. She’s excited about much more since then. returning to cycling late 2006 to participate in Queensland’s Amy’s Ride. With her partner Lorian, Louise, Katie, Kate and Alexis are all Pete, Lorian organised a fundraising ride from now well on their way to recovery. While life Maitland to Brisbane in December, 2005, which will never be the same for them, their lives raised $80,000 for the Foundation. and ambitions go on. Alexis Rhodes: has made a remarkable recovery and is again competing. She won Stage 3 of the Jayco Bay “I am very pleased to announce Cycling Classic in Geelong in January 2006 and that the Australian Government competed in the Liberazione in Italy. Alexis is will contribute $50,000 to now concentrating on finishing her Podiatry the Amy Gillett Foundation. studies through University of South Australia. I understand this will bring to around $250,000 the funds Kate Nichols: already raised or committed, has also fully recovered and is once again including a $50,000 contribution competing. Kate was third in Stage 5 of the from the South Australian Jayco Bay Cycling Classic in Geelong earlier Government and $5,000 from this year and returned to Europe to compete Cycling Australia.” in the Giro d’Italia and placed 16th in the Tour Prime Minister, John Howard, of Thuringen. Kate is continuing her studies in October 7, 2005 Advance Science (Biology major).
18 19 Why there Needs to be a Better Way
Every year for the past five years, an average of 35 Australians on bicycles have been killed. In 2005, 43 cyclists were killed. Additionally, about 2,500 Australians are seriously injured. There are many thousands of minor crashes, although the majority of these are never reported. Recent research suggests total road trauma costs Australian society $17 billion annually. At a time of rising petrol prices, obesity a major health problem, traffic congestion in most major cities and constant concern for the environment, the benefits of riding a bike are becoming more apparent to an increasing percentage of the population. However, research shows that the main factor deterring Statistics from the 2006 people from taking up cycling is the concern MUARC study, commissioned for their safety on the road. by the AGF, of bike crashes in Australia 2000-04 shows: Car sales are increasing annually and so are • Collisions are most likely the number of bikes – 1.1 million bikes sold in between 2pm and 6pm 2005 compared to 1 million cars. With more on weekdays bikes and more cars on the road, how will the two coexist? • Cyclist most at risk of a collision are – There is tension on the road between cyclists 6-19yrs (29.2%) and motorists. Motorists are challenged to 20-29yrs (20.1%) understand and accept the legitimacy of bike 30-39yrs (16.9%) riders on “their road”. Similarly, bike riders assume they are “above the law” by • 80% of collisions involve male disobeying road rules and earning the bike riders disrespect of motorists. • 54% of crashes involved a It is imperative that action is taken to address male motorist the tension that exists between these road • Cyclists account for about 11% user groups. There has to be a better way. of people seriously injured on Although there is no quick-fix solution, the Australian roads each year AGF is committed to spreading key messages • The most common type of to road users – to engender empathy, crash is a cyclist being hit from improve attitudes and reduce the number of behind by a motor vehicle deaths and injuries on our roads. travelling in the same direction; making a U-turn or entering or leaving a parking space
18 19 Snapshot of Achievements
July 2005 Cycling Australia CEO Graham Fredericks and Simon Gillett announce establishment of AGF.
November 2005 Thuringen-Rundfahrt race (Germany) donates $40,100 and announces Amy Gillett Memorial Trophy for 2006 event.
December 2005 Lorian Graham organises 1,000 km ride from Maitland (NSW) to Brisbane and raises over $80,000.
January 2006 Inaugural Amy’s Ride, Victoria. Over 3,000 bike riders take part.
February 2006 Amy Gillett Scholarship announced to support an up and coming female cyclist.
March 2006 Operations officially commence with appointment of Board, Ambassadors and General Manager.
April 2006 Mark Webber and Phil Anderson announced as Patrons. Jessie MacLean awarded inaugural Amy Gillett Scholarship.
Inaugural Road User Forum. July 2006 12 month anniversary activities held in Germany including unveiling of memorial plaque at accident site. Launch of communications campaign including TV commercial nationally on Network TEN & AGF website. August 2006 Announcement of partnership with Monash University Accident Research Centre (MUARC). Formation of partnership with Sweeney Research.
September 2006 Launch of cinema campaign nationally with Val Morgan.
October 2006 Announcement of MUARC initial crash data analysis. Announcement of The Safe Family Research Scholarship in partnership with MUAR Foundation. Announcement of Safe Cycle Month in partnership with Victoria Police.
20 21 Organisation Structure
Patrons Mark Webber Australian Formula One driver Phil Anderson Former champion Australian cyclist & wearer of the Tour de France yellow jersey
Ambassadors Andrew Banks Managing Director Talent2 International Rod Evans Manager, Business Development Alinta Gas Ray King Chairman McPherson’s Limited David Moffatt Group Managing Director Consumer & Marketing Telstra Andy Penn CEO AXA Asia Pacific Matthew Pringle Partner Pitcher Partners Gerry Ryan Managing Director Jayco Caravans Mary & Denis Safe Amy’s parents Olivia Gollan AIS cyclist and a good friend of Amy’s Katie Brown AIS cyclist and 18 July 2005 survivor Lorian Graham AIS cyclist and 18 July 2005 survivor Kate Nichols AIS cyclist and 18 July 2005 survivor Louise Yaxley AIS cyclist and 18 July 2005 survivor Alexis Rhodes AIS cyclist and 18 July 2005 survivor
20 21 AGF Board of Directors
Duncan Murray (Chairman) Rod Katz Stephen Hodge
CEO of PodTV, former Transport Policy Consultant, Principal, Day & Hodge & Australian CEO of Eye Corp, Former President, Bicycle Associates, former Australian investment banker with Federation Australia. representative and Merrill Lynch and lawyer professional cyclist and Board “The AGF has a huge role to with Allens Arthur Robinson. member of Cycling Australia. play in remembering a great He has been racing bicycles person and friend. I would “Amy Gillett was a talented on and off for 20 years. like to contribute any and charismatic “I have had a number of resources, skills, knowledge sportswoman who rapidly accidents on bicycles over and energy to assisting the became an outstanding the years, some of them AGF in achieving its objective. competitor following her serious, none of which greatly Amy’s death has brought introduction to road cycling. concerned me until I became home the need for the whole I, along with many other a husband and a father. Whilst community, and all of us Australians who love cycling, training in 2005, I was hit by a individually, to engage in the wish to remember Amy by car in what could easily have suffering that results from ensuring that the work of the been a fatal accident. road crashes and do Foundation contributes to everything we can to improved relationships on our “I will always recall the prevent it.” roads between all types of expressions on the faces of vehicles. I hope that in the my wife and young children future when someone feels when they saw my injuries the urge to ‘go for a ride’ that and realised what could have their first thought will not be happened. Nonetheless, about their safety, but how cycling is an ingrained part enjoyable it will be.” of my life and after much discussion I inevitably resumed training and racing. I want to always be able to indulge my passion for cycling, but I also feel an overwhelming urge to improve the relationship between motorists and cyclists so that I can increasingly ride comfortable in the expectation that I will return from my rides to live my life with my family.”
22 23 Di Donikian Simon Gillett Past board Member Partner, Talent Partners, Proprietor, Weejock Charters Rex Comb former Executive Search & Precision Agriculture, CEO, eircom Limited, former Consultant at Consortium former rower and head CEO of Babcock Brown Management Planning, and coach for rowing at South Capital, Group MD of Linfox. Victorian memberships Australian Sports Institute Member of Victoria Police coordinator for Fashion and Australian Rowing. Team Homicide Cycling group. Group International. “Originally the idea of the “Cycling is my release valve. “The disconnect between Foundation was to prolong While I cycle for fun and motorists and cyclists the memory of Amy, to enjoyment, I also enjoy the is something we face focus on something positive benefits of living a healthy everyday on our roads. My out of what happened. But lifestyle and the camaraderie involvement was born out of its primary objective is now that goes with meeting up the senseless accident of more about road safety – with friends several times a July 2005 in Germany that trying to make motorists and week. I joined the AGF board claimed the life of Amy – the cyclists more aware of each because I believed I had tragedy catapulting the issue other on the road and make something to offer and with of road behaviour to the front it a safer place to be.” the belief that all Australians of my mind. Learning to should have the opportunity share our roads safely is our to cycle on our roads and not future, and I am passionate be frightened off by road about contributing to statistics. Unfortunately, my spreading that message.” work commitments have taken me overseas and I won’t be involved as much as I would have liked – for the time being at least.’’
Management Melinda Jacobsen General Manager Donna Murphy Executive Assistant
22 23 Board Sub-Committees and Advisory Groups
To ensure the smooth running of the Finance & Governance Board Foundation and to ensure the AGF’s goals and Sub-Committee objectives are met, four Board sub-committees Matthew Pringle (Chair) – and advisory groups have been established: Partner, Pitcher Partners • Finance & Governance Board Rod Katz – Sub-Committee Board Director and former President Bicycle Federation of Australia • Scholarships Board Sub-Committee Duncan Murray – • Marketing & Communications Board Board Chair, CEO PodTV Advisory Group The sub-committee was established to • Road Safety Board Advisory Group ensure optimal and prudent use of resources The AGF has been extremely lucky to have to sustain the AGF and accomplish its goals secured the service of some fantastic people and objectives. Additionally, it oversees the to be involved on the Board’s sub-committees financial management of the Foundation, and advisory groups. Their wealth of ensuring compliance with relevant legislation. knowledge in their respective areas of The sub-committee oversees the formulation expertise – and life in general – has proven of financial policies and monitors their invaluable and will continue to provide a high implementation, along with monitoring level of strategic advice and direction to the governance policies and procedures. management team and board. Responsibilities include developing and The Board’s sub-committees and advisory reviewing a long-term financial plan that aims groups are an essential component in the to maximise the AGF’s assets. ongoing success of the AGF. Scholarships Board Sub-Committee Stephen Hodge (Chair) – Principal Day & Hodge Associates, Board Director Simon Gillett – Board Director, Business owner The AGF has already announced two scholarships – the Amy Gillett Scholarship that is awarded to an outstanding female cyclist to help further her career, and the Safe Family Research Scholarship, in partnership with MUARC to offer a four-year PhD scholarship worth $100,000 for further research into cyclist deaths on the road. The Sub-Committee developed the selection criteria for the above scholarships and undertook the selection process. The sub- committee overseas all components on the scholarship programs.
24 25 Marketing & Communications Board Road Safety Board Advisory Group Advisory Group Rod Katz (Chair) - Mike Otten (Chair) – Board Director and former President Executive Director PodTV, Bicycle Federation of Australia former MD Singleton’s Melbourne David Healy – Sharon McHale – General Manager, Road Safety, former CEO Peter Mac Foundation Transport Accident Commission, Victoria Lahra Carey – Max Cameron – Media & Communications Consultant Principal Research Fellow, Monash University Accident Research Centre Russell Greig – Directorate of Transport Programs, Gayle DiPietro – WA Department of Infrastructure Consultant in Road Safety Education Programs Penny Burke – Russell Greig - Essence Communications Directorate of Transport Programs, WA Department of Infrastructure Di Donikian – Board Director, Partner, Talent Partners The group was established with the Board recognising the need to have a sound Duncan Murray – technical and theoretical basis for working Board Chair, CEO PodTV with the different road user segments, The group oversees and co-ordinates the particularly in the development of messages development of the AGF’s marketing strategy. and appropriate programs. The strategy is designed to maximise The group’s role is to identify relevant exposure of the AGF brand in pursuit of its research on road safety and any gaps objective and core strategies. that exist for future research. The group Responsibilities include developing a three- works closely with the Marketing and year marketing/communications strategy, Communications Advisory Group to ensure strategic advice on ongoing awareness-raising the AGF’s messages are effective, targetted activities, gaining support from media and evidence based. organisations to promote and raise the profile of the AGF’s major programs and to oversee the development of all marketing collateral.
24 25 AGF Achievements 2005-06
Events
“It’s actually Amy’s birthday Amy’s Ride, January 7, 2006 on Monday and I think this The inaugural Amy’s Ride in and around is the best party Amy could Geelong was a stunning success – it was a ever have wished for.’’ day for healing and moving forward. The Amy’s mother, Mary, event attracted 3000 bike riders and raised after the inaugural $50,000 for the AGF. Amy’s Ride in Geelong Katie Brown, who was restricted to a wheelchair for several weeks with serious leg injuries, had her longest ride since the accident. Team-mates Alexis Rhodes and Kate Nichols also rode; Lorian Graham and Louise Yaxley, still recovering, were enthusiastic spectators. The event was blessed with perfect weather as the thousands of cyclists completed courses ranging from 45 to 120 kilometres. Amy’s parents, Denis and Mary Safe, led the ride and were followed by several top Australian women cyclists, including world No.1 Oenone Wood and world track champion Katie Mactier. “This is a wonderful day out on the Bellarine Peninsula and a chance for us to enjoy doing what Amy did best, riding her bike. I know you will give generously so that Amy’s memory never goes away.” Phil Liggett MBE.
“Volvo Car has for more than 60 years been actively involved in improving road safety for all users. The Amy Gillett Foundation is an excellent partner, which shares our goal of making roads safer. Safe road use by motorists, cyclists, pedestrians and motorcyclists is a cooperative issue. Everyone gains when we all work together.’’ Volvo
26 27 Launch of Foundation, announcement Road User Forum – July 4, 2006 of Patrons and inaugural Amy Gillett The AGF held a Road User Forum’s, the first Scholarship – April 3, 2006 of its kind, attended by a mix of government The AGF achieved a major milestone with the agencies, road safety experts, road user announcement of its patrons and firstAmy representative groups, cyclists and motorists. Gillett Scholarship winner at a media function The intention was to put all those involved in at Melbourne’s RACV City Club. the use of our roads – from users and police Coinciding with his return to Australia for the to policymakers, the entire “system” – in a Melbourne Formula One Grand Prix, Mark room at the same time to hear each other’s Webber and former Australian cycling champion point of view. Phil Anderson were named as AGF Patrons. The Board believed such a session was Webber, a cyclist himself, was in Germany necessary for the AGF to hear first-hand the when the tragedy occurred and offered his issues, attitudes and problems and from there support to the injured girls. In his new role, focus on the solutions from an increasingly Webber announced the inaugural winner of informed perspective. the Amy Gillett Scholarship – 20-year-old The session was facilitated by Tony cyclist Jessie MacLean, the 2003 world junior Richardson, one of Australia’s leading experts pursuit champion. in systemic change and emotional intelligence. Ballarat-born Jessie, who is now based in The session led the group to discuss what Canberra is looking forward to competing each must do to ensure greater overseas with the Foundation’s help. “Amy understanding and respect on our roads. was an incredible person,’’ she says. “She While the event highlighted the high level of walked into the room and really left an emotion and tension that exists, it also impression on you. I really look up to her, confirmed the willingness of both parties to her attitude and her determination. This find a solution to reduce the number of scholarship provides me with an opportunity adverse incidents. to make a difference. Plans foreshadowed included building road “The ability to pursue my cycling and rules learning into high school curriculums; academic career and help people to putting cyclists of all ages through skills remember Amy is a special privilege. courses; and introducing compulsory cycling Amy was not only a remarkable athlete modules for learner drivers to help motorists but also a special person who everyone empathise with bicycle riders. in cycling admired.’’ There were cynics, not only about the role Senator the Hon. Rod Kemp, the Federal the AGF would play in the whole cycle/ Minister for the Arts and Sport, was also motoring safety issue, but also as to the on hand to congratulate the AGF on its merits of the forum itself. However, the establishment and offered his support intensity of the discussion was evidence going forward. itself of its importance. One of the highlights was the talk given by the late Peter Brock, on behalf of the Peter Brock Foundation. He said the interaction between all road users was a major issue – particularly the vulnerability of those on two wheels.
26 27 Launch of Communications Campaign Broad media-based communications such as – July, 2006 television and cinema commercials have an Guided by the Board’s Marketing & awareness role to play, but they alone will not Communications Advisory Group and in change attitudes. Our approach therefore in the keeping with the AGF’s four core awareness, coming year will be to develop highly targeted education, research and public policy messages to the younger target audience in a strategies, the AGF has developed a manner that combines with our education, communications strategy that will enable us to research and public policy strategies. successfully position the AGF as an The AGF has been an active commentator in organisation that champions an attitude of the media during 2006. Our public relations shared respect between motorists and cyclists. function has been extremely ably guided by Following the initial results of research Lahra Carey. conducted by MUARC and Sweeney 12-month anniversary – July 18, 2006 Research, the AGF’s communications A year after the accident that devastated their strategy will target two demographics: drivers lives and took the life of their friend, Amy aged 16 - 20; and all cyclists and motorists. Gillett, three Australian cyclists returned to Changing behaviour is difficult and challenging the site on the first anniversary. particularly where the attitudes that drive the The memorial service was both emotional and behaviour are strong, emotional and have been cheerful as three of Amy’s team-mates – Kate developed over a long period of time. It is on Nichols, Louise Yaxley and Katie Brown – this basis that we have identified as a core recounted some funny stories about things target audience young motorists who are just she would say and do. starting to drive and whose attitudes towards cyclists are only in their embryonic stage. Denis and Mary Safe also visited the site, a moment they had thought about and Our first major communications effort has dreaded for a year. It was “very confronting, been to develop a television commercial with very difficult, but it had to be done. We a message that clearly conveys the AGF’s were pleased that we did it,“ Denis says. objective. The brief was to create an To mark the site, Mary and Denis unveiled a awareness campaign with broad appeal that memorial plaque. would sensitise the public to the importance of the need for cyclists and motorists to have The day prior, Louise, Kate & Katie visited the a good relationship on our roads. What was Jena University Hospital to thank the doctors created was a very clever “spin” on the and medical staff who cared for them 12 issues surrounding any relationship. months earlier. Australia’s Ambassador to Germany, Ian Kemish, presented the doctors The commercials are running nationally on with Certificates of Appreciation signed by Network TEN and scheduling has ensured that Prime Minster John Howard. we convey the message to a broad audience and therefore achieve a level of awareness Later that evening, the girls and Amy’s within the target demographic groups. parents attended the official opening ceremony of the Thuringen-Rundfahrt Road The commercial was also modified and Race in Zuelenroda. The State Minister for screened over a six-week period in mid- Economics and Arts announced the inaugural September 2006 by Val Morgan in selected Amy Gillett Memorial Trophy for the female cinemas in Sydney, Melbourne, Brisbane, rider who displayed sportsmanship, courage Adelaide and Perth. Cinemas were selected and fairness throughout the event. The award on the basis of their demographic was fittingly presented to Kate Nichols, who characteristics. finished an amazing 16th overall. Further communication will be more A charity concert was held that evening in specifically targeted to our core audience given Zuelenroda, with all funds raised from the that our objective is not just awareness but entry fee being donated to the Foundation. changing attitudes and, ultimately, behaviour.
28 29 Launch of Website “The Monash University Accident The AGF website contains a growing body Research Centre (MUARC) of information about the AGF, including a is committed to reducing snapshot of the organisation, its role, death and serious injury information about the scholarships plus news from unintended events and events. There are also tips for cyclists in all aspects of daily living and for motorists about safer behaviour on through high quality research the road. and independent The website over the coming year will recommendations. MUARC increasingly evolve as a demographically ensures its research findings targeted “destination”. are conveyed to governments, industry and the community in Partnership with Monash University ways that facilitate maximum Accident Research Centre impact in policy and practice. The AGF has formed a partnership with A key feature of the way MUARC, primarily for investigation into MUARC works is to build cycling deaths and serious injury. The AGF partnerships with groups that believes it important that to find the cure, we can make a difference. The need to know the symptoms and research partnership with the Amy Gillett will help in finding the cause. In turn, Foundation is thus an excellent strategies can be put in place in a bid to limit way to address the issue of the number of accidents. bicycling safety.” Ian Johnston, Director, MUARC. The AGF has already commissioned its first study into characteristics of collisions involving bicycles and motor vehicles. Sweeney Research The study was based on police crash data in focus group partnership Victoria, Queensland, South Australia and Research is an important marketing tool Western Australia between 2000 and 2004. and we are delighted to have the support of While this information has been able to Sweeney Research to assist with an ongoing provide a broad picture surrounding the death program that will monitor our progress and also and serious injury of cyclists in Australia, ensure that the messages we convey and the additional work is needed to investigate the style in which they are conveyed are effective. circumstances under which cars and bicycles Sweeney Research has conducted initial collide in order to prevent a further rise in the focus group research, which indicated that road toll. the message in our television and cinema To this end, the AGF established the Safe communications, resonates with P-Plate Family Research Scholarship, co-funded by drivers. It also confirmed our view that these the AGF and Monash University Accident communications on their own are not enough Research Foundation, which will provide to change or mould attitudes. $100,000 over the next four years for a The research also indicated that even the postgraduate research scholarship. slightly older members of our “young” target This is an important step in the evolution of the demographic already have strongly Foundation – it is now taking an active role in entrenched negative attitudes towards the gathering and disseminating of information cyclists that undoubtedly governs their that has not been previously available. behaviour on the road. This highlights the monumental task that the AGF has before it and how disciplined we will need to be in focusing our energy and resources on the audience whose attitudes and behaviour we can influence.
28 29 Strategic Direction
In an era in which: Communications and Awareness Raising awareness via a raft of traditional and • Bicycles are outselling cars innovative communications techniques will • Cycling is the fourth most popular physical remain a priority for the AGF during 2007 and activity for people aged 15 & over beyond. We will also explore: • Petrol prices continue to rise • Radio, out-of-home, print, internet and other digital strategies. • Concern continues to grow in relation to carbon emissions, global warming and the • Continued development of the AGF website general health of the environment as an online “destination” and repository of knowledge and data information. • In cities congested by traffic, pressure continues to mount for sustainable • Test our key messages and campaigns with alternative transport solutions and qualitative research. • Obesity is emerging as the leading • Remain active commentators in the media Australian health problem, in relation to issues which concern us. the benefits of cycling are becoming apparent • Appropriate merchandise strategies. to a greater portion of the population. The AGF has developed a national “Road Research, however, reveals that the number User Code of Conduct”, which will form an one factor preventing more people from integral part of both our communications and taking up this form of exercise is concern for educational strategies going forward. their safety on our roads. During the last quarter of 2006, the AGF will The AGF’s aim in 2007 and beyond will be announce a partnership with Pacific Brands in focused on continuing to create a financially which the Code of Conduct will be included sustainable organisation, raising awareness with all bicycles sold through retail outlets about the issues that concern the organisation, that distribute Pacific Brands bicycles as well as pursuing our education, research annually, as well as partnering with a number and public policy strategies. of other Pacific Brands marketing initiatives. To do this the AGF will draw on the talents and energy of our patrons, ambassadors, board members and its many other supporters, to make the environment on our roads a manifestation of the values of respect for human life and a commitment to improving our Australian communities.
30 31 “Cycling participation is showing Education good growth in Australia. This The AGF’s education strategy will gather translates into more cyclists on significant momentum during 2007. This is the road interacting with traffic. likely to include: Pacific Brands Leisure and Fitness • A national bicycle education program. is committed to promoting safety for cyclists to ensure every • Collaboration with state drivers licence cycling experience is enjoyable testing authorities to increase the number and safe. We see value in our of cyclist-motorist related questions on partnership with AGF because driver licence tests. the messages and values that the AGF are communicating • A driving instructor orientated “Better align with those of PBLF. The high Drivers Program”. profile of AGF means that it is The AGF is likely to work with a number of major well positioned to be able to get Australian corporations in the development of the message across to all road this education program, in particular Volvo. users, cyclists and motorists alike. Public Policy When we associate our icon The AGF will continue to position itself as an brands Rosebank, Repco and influencer of public policy and spending and Malvern Star with a partner like leverage its already existing strong the AGF, we feel that we relationships with the Federal Government strengthen the cause of all the and a number of state governments. brands. Rosebank is developing Research a strong safety marketing Led by the Board’s Road Safety Advisory campaign around the need to Group, research will continue to be a critical wear a helmet, which is targeted core strategy for the AGF. The Safe Family to kids in schools. This campaign Research Scholarship and partnership with demonstrates the commitment MUARC is likely to grow into a broader to communicate the safety academic and research grants platform. message throughout the community. The AGF will continue to work with Sweeney Research to measure the organisation’s brand We at PBLF are thrilled to be able and message awreness and continue to gain to partner with the AGF, and we critical insights into the motorist-cyclist look forward to a long, healthy relationship. An annual Road Users’ Forum and safe partnership over the will form part of this work. coming years”. Fundraising Maurice Wulfsohn, The AGF will continue its strategy of tying General Manager events, programs and initiatives to corporate Pacific Brands Leisure & Fitness. partners for whom those activities represent a compelling opportunity. The organisation is also investigating individual giving and untied gift strategies. The AGF Board will remain strongly focused on ensuring the ongoing financial health of the organisation.
30 31 Finance and Governance
The AGF Board has adopted a range of corporate governance policies and procedures which have been written to ensure compliance with relevant legislation and reflect the AGF’s commitment to best practice and good governance. A summary of these appears below:
Governance Policy Supporting Documentation Board Membership Selection Criteria, Roles & Responsibilities Evaluation Process Conduct of Meetings Delegation of Authority Core Policy & Position Statements
Sub-Committee/Advisory Group Membership Terms of Reference Athlete Agreement Research Scholarship – Memorandum of Understanding
Guidelines for Development of Corporate Partnerships Event Fundraising Terms & Conditions Accounting Accounting procedures Privacy Service Agreements Distribution Agreement Event Management Agreement
32 33 Financial Report For The Period Ended 30 June 2006
Pitcher Partners Amy Gillett Foundation Trust Level 19 (Trustee: Amy Gillett Foundation Pty Ltd) 15 William Street (ABN: 46 200 981 503) Melbourne VIC 3000 Telephone (03) 8610 5000
Table of Contents Financial Report Page Income Statement 33 Balance Sheet 33 Statement of Changes in Trust Funds 34 Statement of Cash Flows 34 Notes to the Financial Statements 34 - 37 Trustee Directors’ Declaration 37 Independent Audit Report 37
Income Statement For The Period Ended 30 June 2006 Notes 2006 $ Revenue Sales revenue 2 16,527 Other income 2 538,103 554,630 Cost of Sales (4,916) Employee expenses (29,861) Occupancy expenses (2,865) Administrative expenses (3,830) Scholarship expenses (10,819) Professional and consulting related fees (17,295) Travel expenditure (2,534) Other expenses (5,300) (77,420) Profit from continuing operations 477,210
Balance Sheet As At 30 June 2006 Notes 2006 $ CURRENT ASSETS Cash and cash equivalents 4 427,998 Trade and other receivables 5 57,639 Inventories 6 10,884 Other 7 11,157 TOTAL CURRENT ASSETS 507,678
NON‑CURRENT ASSETS Plant and equipment 8 2,329 Intangible assets 9 2,550 TOTAL NON‑CURRENT ASSETS 4,879
TOTAL ASSETS 512,557
32 33 CURRENT LIABILITIES Trade and other payables 10 24,012 Provisions 11 1,836 Other 12 9,489 TOTAL CURRENT LIABILITIES 35,337
TOTAL LIABILITIES 35,337
NET ASSETS 477,220
TRUST FUNDS Settled sum 10 Accumulated surplus 13 477,210 TOTAL TRUST FUNDS 477,220
Statement of Changes In Trust Funds For The Period Ended 30 June 2006 Notes 2006 $ Total trust funds at the beginning of the financial year - Profit for the year 477,210 Total recognised income and expense for the year 477,210 Transactions with equity holders in their capacity as equity holders: Contributions of settled sum 10 10 Total trust funds at the end of the financial year 477,220
Statement of Cash Flows For The Period Ended 30 June 2006 Notes 2006 $ CASH FLOW FROM OPERATING ACTIVITIES Receipts from sales and donations 489,177 Payments to suppliers and employees (57,268) Interest received 1,334 Net cash provided by operating activities 15 (b) 433,243
CASH FLOW FROM INVESTING ACTIVITIES Payment for plant and equipment (2,705) Payments for intangible assets (2,550) Net cash used in investing activities (5,255)
CASH FLOW FROM FINANCING ACTIVITIES Proceeds from settled sum 10 Net cash provided by financing activities 10
Net increase in cash held 427,998 Cash at end of period 15 (a) 427,998
Note 1: Statement of Significant Accounting Policies This financial report is a special purpose financial report prepared in order to satisfy the financial report preparation requirements of the Trust Deed. The trustees have determined that the entity is not a reporting entity.
This first financial report of Amy Gillett Foundation Trust is prepared in accordance with Australian Equivalents of International Financial Reporting Standards (AIFRS). The financial report has been prepared in accordance with all applicable Accounting Standards, with the exception of: AASB 7: Financial Instruments: Disclosures AASB 119: Employee Benefits AASB 124: Related Party Disclosures AASB 132: Financial Instruments: Disclosure and Presentation The report is also prepared on an accruals basis and is based on historic costs and do not take into account changing money values or, except where specifically stated, current valuations of non‑current assets. The following specific accounting policies, which are consistent with the previous period unless otherwise stated, have been adopted in the preparation of this report:
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(a) Revenue Revenue from the sale of goods is recognised upon the delivery of goods to customers. Revenue from public donations is recorded when the trust obtains control over the donation money. Revenue from government contributions is recorded upon commitment of these monies. Interest revenue is recognised when it becomes receivable. All revenue is stated net of the amount of goods and services tax (GST). (b) Inventories Inventories are measured at the lower of cost and net realisable value. (c) Property, Plant and Equipment Each class of property, plant and equipment is carried at cost or fair value. All assets, excluding freehold land and buildings are depreciated over their useful lives or at depreciation rates set by the Commissioner of Taxation. Each class of property, plant and equipment is carried at cost or fair value less, where applicable, any accumulated depreciation. Plant and equipment Plant and equipment is measured on the cost basis. The carrying amount of plant and equipment is reviewed annually by directors to ensure it is not in excess of the recoverable amount from those assets. The recoverable amount is assessed on the basis of the expected net cash flows which will be received from the assets employment and subsequent disposal. The expected net cash flows have been discounted to present values in determining recoverable amounts. Depreciation The depreciable amount of all fixed assets are depreciated over their estimated useful lives to the entity commencing from the time the asset is held ready for use. (d) Intangibles Trademarks Trademarks are recognised at cost of acquisition. (e) Employee Benefits Liabilities arising in respect of wages and salaries, annual leave and any other employee benefits expected to be settled within twelve months of the reporting date are measured at their nominal amounts based on remuneration rates which are expected to be paid when the liability is settled. All other employee benefit liabilities are measured at the present value of the estimated future cash outflow to be made in respect of services provided by employees up to the reporting date. Contributions are made by the entity to an employee superannuation fund are recognised in the balance sheet as a liability, after deducting any contributions already paid and in the income statement as an expense as they become payable. (f) Impairment of assets Assets with an indefinite useful life are not amortised but are tested annually for impairment in accordance with AASB 136. Assets subject to annual depreciation or amortisation are reviewed for impairment whenever events or circumstances arise that indicate that the carrying amount of the asset may be impaired. An impairment loss is recognised where the carrying amount of the asset exceeds its recoverable amount. The recoverable amount of an asset is defined as the higher of its fair value less costs to sell and value in use. (g) Income tax Amy Gillett Foundation Trust is in the process of applying for income tax exempt status and deductible gift recipient status with the Australian Taxation Office. The status has not been finalised at the time of financial statements completion. The financial statements have been prepared on the basis of these applications being successful. (h) Financial Period Amy Gillett Foundation Trust was settled on 24 February 2006. Accordingly, these financial statements are prepared for the period 24 February 2006 to 30 June 2006.
Notes 2006 Note 2: Revenue $ Operating activities ‑ sale of goods 16,527 ‑ donations received 532,667 ‑ interest 2(a) 5,436 Total Revenue 554,630
(a) Interest from: ‑ other persons 5,436
Note 3: Profit from Continuing Activities Profit has been determined after: Expenses: Depreciation‑ office equipment 376 Bad and doubtful debts 4,115 Provision for employee entitlements 1,836
Note 4: Cash and Cash Equivalents Cash on hand 10 Cash at bank 427,988 427,998
34 35 Note 5: Receivables CURRENT Trade debtors 50,900 Sundry debtors 8,944 Less provision for doubtful debts (4,115) 4,829 Other debtors 1,910 57,639
Note 6: Inventories CURRENT Finished goods at cost 10,884
Note 7: Other Assets CURRENT Prepayments 7,055 Accrued interest 4,102 11,157
Note 8: Plant and Equipment Plant and Equipment Office equipment At cost 2,705 Less accumulated depreciation (376) 2,329
Note 9: Intangible Assets Trademarks, at cost 2,550
Note 10: Payables CURRENT Unsecured liabilities Trade creditors 16,210 Sundry creditors and accruals 7,802 24,012
Note 11: Provisions CURRENT Employee benefits (a) 1,836
(a) Aggregate employee benefits liability 1,836 (b) Number of employees at year end 1
Note 12: Other Liabilities CURRENT Accrued expenses 9,489
Note 13: Retained Profits Net profit attributable to members of the entity 477,210 Accumulated profits at the end of the period 477,210
Note 14: Contingent Liabilities Estimates of the maximum amounts of contingent liabilities that may become payable: Amy Gillett Foundation Trust supports a scholarship for a female cyclist. The costs associated with the scholarship include international airfares to attend competitions, associated racing costs and a daily allowance. At 30 June 2006, the budgeted costs associated with the scholarship is $7,115. 7,115
Note 15: Cash Flow Information (a) Reconciliation of cash For the purposes of the statement of cash flows, cash includes cash on hand and at call deposits with banks or financial institutions, investments in money market instruments maturing within less than two months and net of bank overdrafts. Cash at the end of the period as shown in the statements of cash flows is reconciled to the related items in the statement of financial position as follows: Cash on hand 10 Cash at bank 427,988 427,998
36 37 (b) Reconciliation of cash flow from operations with profit from ordinary activities after income tax
Profit from ordinary activities after income tax 477,210 Non‑cash flows in profit from ordinary activities Depreciation 376 Doubtful debts 4,115 Changes in assets and liabilities Increase in receivables (50,900) Increase in prepayments (7,055) Increase in inventories (10,884) Increase in sundry debtors (14,956) Increase in payables 16,210 Increase in sundry creditors and accruals 17,291 Increase in provisions 1,836 Cash flows from operations 433,243
Note 16: Trust Details The registered office of the company is: Amy Gillett Foundation Trust Suite B, Ground Floor, Building C, 95 Coventry St, South Melbourne VIC 3205
Directors’ Declaration of Trustee Company The director of the trustee company, has determined that the trust is not a reporting entity. The director has determined that this special purpose financial report should be prepared in accordance with the accounting policies outlined in Note 1 to the financial statements.
The director of the trustee company, declares that: 1. The financial statements and notes, as set out on pages 1 to 10 presents fairly the trust’s financial position as at 30 June 2006 and performance for the period ended on that date of the trust in accordance with the accounting policies outlined in Note 1 to the financial statements. 2. In the director’s opinion there are reasonable grounds to believe that the company will be able to pay its debts as and when they become due and payable. This declaration is made in accordance with a resolution of the director of the trustee company.
Director Duncan Murray Dated this 25th Day October 2006
Independent Audit Report to the Trustees of Amy Gillett Foundation Trust Scope We have audited the attached financial report, being a special purpose financial report of Amy Gillett Foundation Trust for the period ended 30 June 2006 comprising the Directors’ Declaration, Income Statement, Balance Sheet, Statement of Changes in Trust Funds, Statement of Cash Flows and notes to the financial statements. The trustee is responsible for the financial report and have determined that the accounting policies used and described in Note 1 to the financial statements are appropriate to meet the requirements of the trust deed and are appropriate to meet the needs of the trustee. We have conducted an independent audit of this financial report in order to express an opinion on it to the trustee. No opinion is expressed as to whether the accounting policies used, and described in Note 1, are appropriate to the needs of the trustee.
The financial report has been prepared for distribution to the beneficiaries for the purpose of fulfilling the trustees’ financial reporting requirements under the trust deed. We disclaim any assumption of responsibility for any reliance on this audit report or on the financial report to which it relates to any person other than the trustees, or for any purpose other than that for which it was prepared. Our audit has been conducted in accordance with Australian Auditing Standards. Our procedures included examination, on a test basis, of evidence supporting the amounts and other disclosures in the financial report and significant accounting estimates. These procedures have been undertaken to form an opinion whether, in all material respects, the financial report is presented fairly in accordance with the accounting policies described in Note 1 to the financial statements so as to present a view which is consistent with our understanding of the trust’s financial position, and performance as represented by the results of its operations and its cash flows. These policies do not require the application of all Accounting Standards and other mandatory professional reporting requirements in Australia. The audit opinion expressed in this report has been formed on the above basis. Audit Opinion In our opinion, the financial report of Amy Gillett Foundation Trust presents fairly in accordance with the accounting policies described in Note 1 to the financial statements, the financial position of Amy Gillett Foundation Trust as at 30 June 2006 and the results of its operations and its cash flows for the period then ended. PITCHER PARTNERS
P A Jose Partner Melbourne October 2006
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