Annual Report 2017-2018 Table of Contents 1 Contents 8 Finance Audit and Risk Committee 3 Chairman’s Report 9 Organisational Structure 4 Our Organisation 11 CEO’s Report 4 Accountable Officer’s Declaration 12 Operational Year in Review 4 Attestation For Financial 13 Capital Projects Review Management Compliance With Ministerial Standing 14 Achievements 2017-2018 Direction 5.1.4 15 Event Attendances 5 Purpose and Functions 15 Key Statistics Fy17/18 Fy 16/17 6 Vision, Mission and Values 16 Our Partners 8 Trustees 17 Administrative Reporting 8 Executive Team Requirements 30 Financial Statements 2 OUR ORGANISATION 3 Kardinia Park, Chairman’s Australia’s Report Best Regional Stadium The past year has generated a number of exciting The Trust maintains and enjoys a strong strategic relationship opportunities for the Trust as we have continued to with our key stakeholders including the City of Greater build on a solid foundation of events and activities, Geelong, the Victorian Government and our lead tenant, the in line with our core values and responsibilities. Geelong Football Club. We look forward to building on these relationships whilst achieving our shared goal of optimising In 2017/18, we hosted more than 90 events, representing economic and liveability benefits for our community. all areas of our community and we were delighted to welcome more than 330,000 people who attended It has also been a year of change for us at the Trust as we a broad range of events at the Stadium. fare welled Professor Jane den Hollander as a Trust member. There is still much discussion about the highly anticipated Professor den Hollander was appointed by the State Stage 5 of the Stadium redevelopment and we worked Government in January 2015 as a member of the Kardinia diligently this year to deliver the business case and the Park Steering Committee. Working with fellow members design of the proposed works. of the Steering Committee, the State Government and the City of Greater Geelong, she played a pivotal role in the We remain hopeful of securing future funding for drafting of the Kardinia Park Stadium Act 2016 and the further development of GMHBA Stadium, which would establishment of the Trust itself. increase our capacity to 40,000 people and truly cement our position as Australia’s Best Regional Stadium. On behalf of the Trust, I would like to sincerely thank Jane for her invaluable input and support and wish her all the While the Stadium has been well known for many years best for the future. as the home of the Geelong Football Club, in 2017/18 we focused strongly on growing our engagement with In 2017/18, we also welcomed two new members the broader Geelong community. Part of that commitment to the Trust, Dan Simmonds and Joe Calafiore. saw the establishment this year of the new Kardinia Park Mr. Simmonds is a long term resident of Geelong with Advisory Committee. significant standing within the Geelong community. The Committee, which includes 11 local sport, community A prominent and experienced lawyer, he is highly regarded and council representatives, is charged with assisting the across the region for his work with community groups, Trust to develop a ‘Master Plan’ to govern the land outside such as the Committee for Geelong, Barwon Health of the Stadium and ensure that the precinct remains Foundation and the Deakin School of Law. accessible and open to all. Mr. Calafiore is the CEO of the Transport Accident Looking back over the past year, highlights included the Commission (TAC). Born and raised in Geelong, he Stadium being the chosen venue for the annual Carols by is strongly committed to the Geelong community and Candlelight event, which saw more than 8,000 people turn actively works towards improving the region’s future. out in fine voice. We were also the proud hosts of Geelong’s I warmly welcome both Dan and Joe to the Trust and inaugural Vinnies CEO Sleep out, along with the Galaxy look forward to their valuable and generous contributions United’s Celebration of Women’s Football and the Sacred to our strategic planning and growth. Heart College Maguire Awards Ceremony. My thanks to the Minister of Sport, the Hon. John Eren This year we signed an agreement with AFL Barwon to host and the team at Sport and Recreation Victoria for their the Geelong Football League finals at the Stadium for the support and assistance. next three years. We have also established a partnership with the Mark West Foundation, which is committed to I would also like to thank the entire Trust team at Kardinia ensuring that no child in the greater Geelong region misses Park for their hard work and efforts over the past year and out on the opportunity to play Australian Rules football I look forward to an even more successful year in 2018/19. due to financial hardship. Michael Malouf Chair KPST Kardinia Park Stadium Trust Annual Report 2018 4 OUR ORGANISATION OUR ORGANISATION 5 Accountable Purpose Officer’s and Functions Declaration In accordance with the Financial Management Act 1994, On 16 March 2016, the Kardinia Park Stadium Act 2016 THE OBJECTIVES OF THE TRUST ARE TO: I am pleased to present the Report of Operations was proclaimed by Parliament and the Kardinia Park for the Kardinia Park Stadium Trust for the year ending Stadium Trust (the Trust or KPST) was established. • Promote the Precinct and facilitate alignment 30 June 2018 of stakeholder objectives The Trust is established to administer, promote and manage the Kardinia Park Stadium Trust Land, within an over-arching • Manage and develop the Precinct’s assets objective of contributing to the economic, community, and liveability benefits to Geelong and the broader region, • Increase utilisation of the Precinct’s assets that arise from the use of the Stadium. • Support and engage the Precinct’s users Mr. Michael Malouf The Trust is custodian of the Stadium and adjacent hard and community groups Chair/Accountable Officer stand car park facilities equating to 7.035 hectares of space within Kardinia Park. On major event days (inclusive of AFL Match Days), the As defined in the Act the Trust has all powers Trust assumes custodian responsibility for the Stadium and necessary to perform the following functions: adjacent parkland (excluding Kardinia Pool), equating to 20.6 hectares of space within Kardinia Park. • To be responsible for the care, improvement, use and promotion of the Kardinia Park Trust Land as facilities Financial The Stadium is home to the Geelong Football Club and for sports, recreation and entertainment and related acts as a host to other professional sporting codes such as social and other activities; the A-League Football, Australian Rugby Union, National Rugby League, Cricket Victoria and Cricket Australia. • To be responsible for the proper financial management Compliance of the Kardinia Park Trust Land; THE PURPOSE OF THE TRUST IS: • To provide for the planning, development, promotion, management, operation and use of other sports, recreation ATTESTATION FOR FINANCIAL MANAGEMENT and entertainment facilities and services in Victoria for COMPLIANCE WITH MINISTERIAL STANDING “To oversee the which the Trust has responsibility; DIRECTION 5.1.4 Kardinia Park Trust • To provide for the planning, development, promotion, Kardinia Park Stadium Trust Financial Management management, operation and use of facilities and services Compliance Attestation Statement Land to optimise for car parking and other necessary services to be used I, Ms Elizabeth Mears, on behalf of the Responsible Body, in conjunction with any of the facilities operated or certify that the Kardinia Park Stadium Trust has complied with economic, community managed by the Trust; the applicable Standing Directions of the Minister for Finance • To accept appointment and act as the committee under the Financial Management Act 1994 and Instructions. and livability benefits of management of Crown Lands; for the region and • To be responsible for the operation of the Kardinia the State”. Park Trust Land with the objective of contributing to the economy, community and liveability of the Geelong region and the State; and Ms Elizabeth Mears Chairperson Finance Audit Risk • To perform any other function conferred on or given Committee/Accountable Officer to the Trust by or under this Act or any other Act. Kardinia Park Stadium Trust Annual Report 2018 6 OUR ORGANISATION 7 Vision, Mission and Values The revised vision, mission and values align with the purpose The Trust’s vision, and functions of the Trust and form the basis of our three- mission and values year strategic plan highlighting the four key business pillars: have evolved over • Strive towards Financial Sustainability the past year and • Deliver operational and commercial excellence are at the centre • Build an aligned and engaged culture of all we do across • Contribute to the economy, community and the business. liveability of the Geelong region TO BE RECOGNISED AS AUSTRALIA’S Our Vision BEST REGIONAL STADIUM. TO OVERSEE THE STADIUM, OPTIMISING ECONOMIC Our Mission AND LIVABILITY BENEFITS FOR OUR COMMUNITY. COLLABORATIVE, ACCOUNTABLE, TRANSPARENT, Our Values INNOVATIVE, RESPECTFUL Kardinia Park Stadium Trust 8 OUR ORGANISATION OUR ORGANISATION 9 Our Organisational Team Structure MINISTER TRUSTEES EXECUTIVE REMUNERATION STAGE 5 PROJECT TEAM COMMITTEE COMMITTEE The Trust consists The Executive Management The Remuneration Stage 5 Project of a Chairperson, Team consists of a variety Committee consists of: Committee consists of: TRUSTEES of well-qualified and diverse Mr. Michael Malouf Ms Gillian Costa Mr. Dan Simmonds professionals, listed below: and the following members: Chair Chair Mr. Michael Brown FINANCE AUDIT AND Prof. Jane den Ms. Elizabeth Mears Mr. Michael Malouf Chief Executive RISK COMMITTEE Hollander Ms. Rebecca Casson Ms. Gillian Costa (to 21 February 2018) Ms. Natalie Valentine Deputy Chief Executive Mr. Simon Guthrie Mr.