WESTERN AUSTRALIAN SPORT CENTRE TRUST ANNUAL REPORT 2007 08 WA SportS CENTRE TRUST MESSAGE TO THE MINISTER To the Honourable Terry K Waldron MLA Minister for Sport and Recreation; Racing and Gaming; Minister assisting the Minister for Health. In accordance with the requirements of section 64 of the Financial Management Act 2006, it is my pleasure to submit for your information and presentation to Parliament, the Annual Report of the Western Australian Sports Centre Trust for the year ended 30 June 2008. The Annual Report has been prepared in accordance with the provisions of the Financial Management Act 2006. Graham Partridge Chairman WESTERN AUSTRALIAN SPORTS CENTRE TRUST 1 ANNUAL REPORT 2007/08 WA SportS CENTRE TRUST CONTENTS Overview of the WA Sports Centre Trust ............................................................................................................................. 4 Executive Summary - Chairman’s Report ............................................................................................................................ 5 Chief Executive Officer’s Report ........................................................................................................................................... 6 Financial Overview ................................................................................................................................................................ 7 Operational Structure ............................................................................................................................................................ 8 Our Structure ......................................................................................................................................................................... 9 WA Sports Centre Trust Board ........................................................................................................................................... 10 Agency Performance - Report on Operations ................................................................................................................... 13 Report on Operations 2007-08 ............................................................................................................................................ 14 Challenge Stadium ....................................................................................................................................... 14 Arena Joondalup .......................................................................................................................................... 17 Speeddome ................................................................................................................................................... 19 Motorplex ...................................................................................................................................................... 19 Property and Services .................................................................................................................................. 20 Marketing ....................................................................................................................................................... 22 Significant Issues and Trends ............................................................................................................................................. 23 Disclosures and Legal Compliance .................................................................................................................................... 26 Key Performance Indicators ................................................................................................................................................ 27 Key Performance Indicator Information ............................................................................................................................ 28 Other Financial Disclosures ................................................................................................................................................ 31 Notes to the Financial Statements ..................................................................................................................................... 36 Balance Sheet - For the year ended 30 June 2008 ............................................................................................................ 37 Income Statement - For the year ended 30 June 2008 ..................................................................................................... 38 Statement of Changes in Equity - For the year ended 30 June 2008 .............................................................................. 39 Cashflow Statement - For the year ended 30 June 2008 .................................................................................................. 40 Notes to the Financial Statements - For the year ended 30 June 2008 ........................................................................... 41 Publications .......................................................................................................................................................................... 70 How to contact the Trust ..................................................................................................................................................... 70 3 ANNUAL REPORT 2007/08 WA SportS CENTRE TRUST OVERVIEW OF THE WA SPORTS CENTRE TRUST The Western Australian Sports Centre Trust (The Trust) is responsible for managing, operating and promoting the use of State facilities for elite sport and competition, recreational programmes and entertainment events. The Trust employs over 211 full-time equivalent staff physically located in the following venues: Challenge Stadium In 1986, the Trust’s first venue, Perth Superdrome, was built with its primary focus being a commitment to help develop elite sport and athletes in their pursuit of excellence. Now known as Challenge Stadium, the facility is currently home to a myriad of activities - including: elite sport, concerts, childcare, functions, events plus health and fitness facilities. Midvale SpeedDome The Midvale SpeedDome provides training and competition facilities for cycling and rollersports in Western Australia. The SpeedDome opened in 1989 and is Perth’s only combined indoor velodrome and rollersports complex. Arena Joondalup Built in Perth’s northern suburbs in 1992, Arena Joondalup provides multi-purpose sport, recreation and aquatic facilities for the local community. Home to in excess of 30 sporting clubs, 2,500 Health & Fitness members, 1000 Learn to Swim members and West Perth Football Club, Arena Joondalup caters for a variety of sports including hockey, netball, rugby, athletics, tennis, volleyball, badminton and soccer. Perth Motorplex The Motorplex, opened in 2000, is Western Australia’s world class motorsports complex and the only motor sport venue in Australia to combine both drag racing and speedway at one site. The complex comprises an oval speedway track and a quarter mile drag strip. The Motorplex was built by the Government of Western Australia with management responsibility vested in the Trust. The day-to-day operation of motor sport activity is carried out by Kwinana Motorplex Pty Ltd via a license agreement with the Trust. Future Venues Perth Arena - In February 2008 the Government of WA confirmed that the Trust would be the owner of the Perth Arena. Work is underway on Perth’s new, state-of-the-art multipurpose indoor entertainment and sports venue. When complete, the Perth Arena will be the jewel in the crown of the City’s premier entertainment precinct. It is expected to be operational in 2011. State Athletics Stadium and State Basketball Centre - The State Government is developing new athletics and new basketball facilities for Western Australia through the development of two new sports stadiums at AK Reserve. The new facilities will join the sports precinct which is already home to Challenge Stadium, the Western Australian Institute of Sport and UWA Sports Park. The State Athletics Stadium is expected to be operational in the 2008-09 year and the State Basketball Centre is expected to open in the 2009/2010 year. The Trust has been confirmed as the future owner of these facilities on behalf of the State Government. ANNUAL REPORT 2007/08 4 WA SportS CENTRE TRUST EXECUTIVE SUMMARY - Chairman’s Report 2007-08 marked the 21st year The Trust’s commercial endeavours also ensure of operations for the Trust and the delivery of high quality entertainment to the with this coming of age came community and some 380 events were hosted during confirmation of a significant the year including concerts, banquets, sporting activities, expansion in responsibilities, conferences, exhibitions, school swimming, water polo when the new Perth Arena and and diving meets. The Trust also provided the Western the State Athletics Stadium and Australian community with venues for a variety of State Basketball Centre were quality indoor sports and entertainment events prior to added to the Trust’s portfolio the opening of the Perth Arena. Some event hosting of venues. The completion of highlights included: the State Athletics Stadium and • The XII FINA World Masters Swimming State Basketball Centre facilities near Challenge Stadium Championships at Challenge Stadium with an and McGillivray Oval will create a world class sporting estimated 5104 competitors and officials with 4404 precinct. The new Perth Arena has