2006 Annual Report inside pages - Parliament of NSW...Annual Report 2006 Head Office Address: Level...

Annual Report 2006Head Office Address: Level 7, Tower A, The Zenith Centre, 821-823 Pacific Highway, Chatswood NSW 2067

Postal Address: Locked Bag 6501, St Leonards NSW 2065

Phone: +61 2 9200 0200 Fax: +61 2 9200 0290 Email: [email protected] Website: www.tidc.nsw.gov.au

Business Hours: 8.30am – 5.30pm Monday - Friday

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TIDC thanks its contractors for coordinating worksite access for the photos captured in this report.

Photography within the report was taken by: Bob Peters Photography, Christopher Shain Photography, and Brett Boardman Photography.

Design and production of the report was completed by Imagecorp.

Front Cover: The design of the public art wall at the Parramatta Transport Interchange represents the importance of public

transport in the development and growth of Parramatta City.

TIDC ANNUAL REPORT 2005 -2006

1

Letter to the Minister 2

Chairman’s Report 3

Chief Executive Officer’s Report 4

Who We Are 5

• Our Role

• Our Aim

• Our Objectives

• Our Key Stakeholders

• Our Activities

• Our Projects

Our Performance 7

The Year in Review 10

• Epping to Chatswood Rail Line

• Chatswood Transport Interchange

• Parramatta Transport Interchange

• Rail Clearways Program

• North Sydney Station Upgrade

• Metropolitan Rail Expansion Program

Case Study: The Lane Cove National Park Worksite 28

Corporate Governance 30

• Board of Directors

• Corporate Structure

• Management Directors

• Internal and External Performance Reviews

• Management Improvement Plans

• Risk Management and Insurance Activities

• Freedom of Information

Our People 39

• Personnel Plans, Policies and Practices

• Code of Conduct

• Equal Employment Opportunity

• Ethnic Affairs Priorities Statement

• Occupational Health and Safety

Organisational Services and Support 43

• Waste Reduction and Purchasing Policy

• Energy Management Policy

• Delivery of Electronic Services

• Promotion

• Consumer Response

• Guarantee of Service

Financial Statements 46

Directors’ Declaration 47

Appendices 70

• Board Attendance

• Significant Committees

• Consultants

• Major Works in Progress

• Major Challenges

• Economic or Other Factors

• Research and Development

• Human Resources

• Industrial Relations Policies and Practices

• Overseas Visits

• Occupational Health and Safety Performance

• Land Disposal

• Freedom of Information Requests

• Payment of Accounts

• Time for Payment of Accounts

• Total Project Budgets

• After Balance Date Events

• Investment Performance

• Loan Portfolio Performance

• Disclosure of Controlled Entities

• Program Evaluation Results

• Credit Card Certification

• Funds Granted to Non Government

Community Organisations

• Annual Report

• Legal Change

• Departures from Subordinate Legislation Act

• Exemptions

Contents


2

The Hon J A Watkins MP

Deputy Premier

Minister for Transport

Level 30, Governor Macquarie Tower

1 Farrer Place

SYDNEY NSW 2000

Dear Minister

We present the Annual Report of the Transport Infrastructure Development Corporation for the year ending

30 June 2006.

The Report has been prepared in accordance with the Annual Reports (Statutory Bodies) Act 1984, the applicable

provisions of the Public Finance and Audit Act 1983 and the State Owned Corporations Act 1989. It is submitted

for presentation to Parliament.

Yours sincerely

Ron Finlay Chris Lock

Chairman Chief Executive Officer


3

This financial year has marked a new

phase in the Transport Infrastructure

Development Corporation’s (TIDC)

development with the official opening of

the award winning Parramatta Transport

Interchange – the first TIDC project to be

used by the travelling public.

This was followed shortly after by the

delivery of TIDC’s first Rail Clearways

project, the Bondi Junction Turnback.

These achievements establish TIDC as a fully fledged

delivery organisation.

This has been accomplished against a backdrop of

sustained organisational growth with significant progress

made in establishing expanded corporate governance

structures and frameworks as the transition to a multi-

project organisation continues.

On behalf of the Board, I applaud the employees that

make up this young vibrant organisation and their

accomplishments over the year.

Safety is of critical importance to the Board. It is therefore

pleasing that a culture of safety exists at every level of

TIDC. The continual process of review in safety

compliance and monitoring that is being undertaken is

paramount in striving for safety excellence.

TIDC is a value-driven organisation and it is reassuring to

observe the high standard of ethics and probity that has

been vigilantly set for the normal day-to-day operations of

the Corporation.

The 2005-2006 year was the first full

reporting period with Chris Lock as Chief

Executive Officer (CEO). The transition in

CEO was completed seamlessly and I

thank Chris for his leadership,

professionalism and enthusiasm during a

busy and formative year for TIDC.

I also take this opportunity to note the

contribution made by my fellow Board

members and to thank them individually

for the knowledge, insight and talent that

they bring to the table. As always, their contribution has

been invaluable.

I look forward to working with the Board members and the

entire TIDC team during the next reporting period in meeting

the challenges and maximising the opportunities in the

delivery of transport infrastructure for New South Wales.

Ron Finlay

Chairman

Chairman’s Report

Ron Finlay

On behalf of the Board,

I applaud the employees that

make up this young vibrant

organisation and their

accomplishments over the year.


4

The 2005-2006 year has been very busy for

the Transport Infrastructure Development

Corporation (TIDC) with a significant volume

of work completed across all of our

programs with a continued focus on safety.

In particular, the official opening of the

Parramatta Transport Interchange is of

special importance in the short history of

our organisation as the first project to be

put into use. While final finishing works are

still being completed, it is especially

satisfying that the new interchange was opened ahead

of schedule to provide an enhanced public transport

experience for the 55,000 commuters who use it each

working day.

Work on the Epping to Chatswood Rail Line (ECRL)

reached yet another milestone during the year. With the

commencement of track and signal installation within the

tunnels the project has entered into a new phase of

construction delivery.

The year also saw the return of the Lane Cove National

Park worksite to the public, the first ECRL site to be

completed. This result benefits the whole community

and typifies TIDC’s focus on improved urban

amenity outcomes.

The scale and magnitude of the work completed to date

across the 12.5 kilometre ECRL route is truly remarkable

with a total expenditure to date of $1.5 billion.

Substantial progress was made on the Rail Clearways

Program during this reporting period. Another ‘first’ for

TIDC was the completion of our first Rail Clearways

project at Bondi Junction. Construction commenced on

another five Rail Clearways projects during the year and

TIDC received a direction to construct the Rail Clearways

projects scheduled for completion in 2010.

TIDC also received a direction from Government to

undertake planning for the three rail projects comprising

the Metropolitan Rail Expansion Program – a significant

infrastructure proposal to provide enhanced public

transport to two of Sydney’s key

growth areas.

TIDC’s projects now cover a geographic

area that stretches across greater

metropolitan Sydney. To meet this

increased work load, the Corporation has

experienced a period of substantial

growth. Senior management attention is

focussed on creating an organisational

structure and processes that

accommodate and support this growth.

As my first full year with TIDC is complete, I thank the

Board and senior management for their assistance and

advice during the year and everyone within Team TIDC for

their effort. Without the professionalism and output of

each individual, TIDC’s achievements would not have

been possible.

These achievements would also not have been possible

without the collaborative effort of RailCorp, our

contractors and stakeholders. On behalf of TIDC I thank

these groups for their contribution.

In looking ahead to next year I challenge every employee

to embrace and contribute to the ongoing organisational

change and to continue to strive for excellence in all

aspects of our business.

Chris Lock

Chief Executive Officer

Chief Executive Officer’s Report

Chris Lock

Without the professionalism and

output of each individual, TIDC’s

achievements would not have

been possible.


5

The Transport Infrastructure Development Corporation

(TIDC) is a State Owned Corporation established under

the Transport Administration Act 1988 to develop major

transport infrastructure projects for the New South

Wales (NSW) Government.

TIDC is governed by a Board responsible to two

Shareholder Ministers.

During the reporting period, section seven of the Public

Sector Employment and Management (Ministers) Order

2006 was enacted. This resulted in TIDC’s existing

Shareholder Ministers, the Hon Morris Iemma MP and the

Hon John Della Bosca MLC retaining their share in TIDC,

but in their capacity as Premier of New South Wales and

Minister for Finance, respectively.

TIDC’s Portfolio Minister is the Minister for Transport, the

Hon John Watkins MP.

As at 30 June 2006 TIDC has 83 permanent employees.

TIDC’s head office is located in Chatswood. TIDC also

maintains project offices as required for the management

of construction projects. During the year, TIDC’s project

offices in Bondi Junction and Parramatta were

decommissioned and new project offices were

established in Hornsby and North Sydney.

Our Role

TIDC’s principal role is to develop and deliver major

transport infrastructure projects as directed by the

Minister for Transport, with the support of the Shareholder

Ministers, in an efficient, effective and financially

responsible manner.

The Corporation is responsible for managing the

development, planning, design, construction and

commissioning of each project it undertakes. It is also

responsible for ensuring environmental and safety

standards are met during every project phase and in

operation, for liaising with the community and

stakeholders and for providing fiscal accountability to the

NSW Government.

Our Aim

The aim of TIDC is to cost effectively deliver transport

solutions in a timely manner that incorporate the most

appropriate standards and technology, support the

growth of New South Wales, enhance its natural and

urban environments, provide tangible benefits for

commuters and represent value to Government.

Our Objectives

TIDC’s objectives are to:

• Provide a contractual framework for a safe working

and operating environment for the construction

workforce, rail personnel, transport users,

pedestrians and the wider community;

• Implement and maintain sustainable

environmental practices;

• Demonstrate excellence in design;

• Have transparent and accountable planning approval

and environmental processes;

• Ensure sound construction methodologies

are adopted;

• Provide value for money in the delivery of

transport infrastructure;

• Use transparent contract procurement processes;

• Engage in a high level of community and stakeholder

liaison; and

• Deliver high quality transport infrastructure

outcomes.

Our Key Stakeholders

TIDC has five key stakeholder groups:

• The NSW Government – in particular the

Shareholder Ministers and Portfolio Minister;

• The NSW public – in particular public transport

commuters and the local communities in which

we work;

• Associated government agencies – including RailCorp

as the future asset owner of our current projects;

• Contractors and consultants; and

• TIDC employees.

Who We Are


6

Our Activities

Under the direction of the Board, TIDC’s key

activities include:

• Defining the scope and design of projects;

• Obtaining planning and other approvals;

• Acquiring, leasing, managing and disposing of

properties and/or land;

• Contracting with and managing service providers and

construction contractors;

• Establishing, monitoring and reporting environmental,

planning and safety compliance;

• Assessing and managing risks;

• Leveraging other developments off TIDC projects to

maximise stakeholder value;

• Project commissioning, validation and handover to

project asset owners and operators;

• Communicating and consulting with stakeholders;

• Financial management; and

• Corporate governance and human resource

management.

Our Projects

As at 30 June 2006, TIDC’s projects are as follows.

• Epping to Chatswood Rail Line

• Chatswood Transport Interchange

• Parramatta Transport Interchange

• Rail Clearways Program:

◆ Berowra Platform

◆ Bondi Junction Turnback*

◆ Cronulla Line Duplication

◆ Homebush Turnback

◆ Hornsby Station Platform 5 and Stabling

◆ Lidcombe Turnback

◆ Macdonaldtown Stabling

◆ Revesby Turnback

◆ Carlingford Line Passing Loop

◆ Kingsgrove to Revesby Quadruplication

◆ Liverpool Turnback

◆ Macarthur Station Platform 4

◆ Quakers Hill to Schofields Duplication

◆ Sydenham to Erskineville Extra Tracks

(feasibility study)

* This project was completed during the reporting period.

• Metropolitan Rail Expansion Program:

◆ CBD Rail Link (Pre-feasibility report)

◆ North West Rail Link (Project review report,

environmental assessment and concept plan)

◆ South West Rail Link (Project review report,

environmental assessment and concept plan)

• North Sydney Station Upgrade

Who We Are continued

In redeveloping the Parramatta Transport Interchange,the historic 1859 station building was restored.


7

By analysing our yearly outputs we obtain a balanced

perspective of our achievements and a feedback

mechanism for identifying areas requiring further

improvement in the year ahead.

This continued process ensures that our corporate vision

proactively translates into our actions and outcomes.

The following provides a snapshot of our performance

across all of our projects and of our internal management

during the 2005-2006 year.

Delivering High Quality Transport

Infrastructure

• Approximately $450 million of construction was

undertaken across TIDC projects.

• TIDC’s contract templates were revised to address

new licence requirements, accreditation

requirements and performance and compliance

incentives.

• A TIDC project was recognised with two awards for

design excellence.

Implementing Sound Planning and

Environmental Processes

• No prosecutions or fines were made against TIDC

under any environmental or planning laws.

• A planning and environmental approval manual

was prepared and peer reviewed, providing

clarification to TIDC’s planning and environment

assessment processes.

• TIDC’s planning and environment reporting system

was upgraded to a web-based program. This new

program improves the ease of quarterly compliance

reporting against all TIDC held approvals and licences.

• 14 heritage and environmental permits were

obtained for TIDC projects.

• Weekly environmental inspections were undertaken

by TIDC environmental planning project managers

and independent Environmental Management

Representatives at all worksites where major

construction was under way.

• Environmental assessments were prepared and

planning approvals were issued subject to

conditions of approval for seven projects.

Engaging the Community and Stakeholders

• A TIDC consultation policy was developed for

projects in the planning phase.

• 20 information sessions were held for six TIDC

projects in the planning phase.

• A Review of Environmental Factors was placed on

public exhibition for six projects. 225 public

submissions were received and considered for

these projects.

• Liaison occurred with key stakeholders across all of

TIDC’s projects.

• Project specific flyers and newsletters were produced

and the TIDC website was regularly updated.

• 34 community liaison group meetings were held

during the year to provide community

representatives with first hand information on the

status of construction and a forum to raise issues

with the project team.

• 251 construction related complaints across TIDC’s

projects were received during the year, with

approximately 95% responded to within the defined

two-hour response timeframe.

• 15 tailored communication plans were developed

and implemented to ensure the community were

effectively informed about project specific issues

such as construction related access changes.

Our Performance


8

Maintaining a Framework of Safety

and Compliance

• The Lost Time Injury Frequency Rate was 3.2 across

all TIDC projects compared to the construction

industry average Lost Time Injury Frequency Rate of

21.3 (2004-2005). The Lost Time Injury Frequency

Rate was 0 for the TIDC office.

• A new Board Safety Committee was established to

ensure a safety focus at the highest level of the

Corporation.

• TIDC achieved a variation to its Rail Safety

Accreditation from the Independent Transport Safety

and Reliability Regulator.

• A recertification audit conducted by an independent

certification body confirmed that TIDC is operating

effective management processes to deliver transport

infrastructure projects.

• 67 external and 46 internal audits occurred across

all TIDC projects with 771 findings identified during

the period. Approximately 90% of the audit findings

were closed out within the defined timeframe.

• More than 127 safety consultative inspections were

undertaken across all projects in construction. 47 of

the inspections confirmed full compliance with no

reports issued to the contractor.

Maintaining Sound Corporate

Governance Processes

• No breaches of internal controls or corporate

governance protocols occurred.

• Debt was managed in accordance with TIDC’s Risk

Management Agreement with Treasury NSW.

• In line with statutory reporting requirements, TIDC’s

Statement of Corporate Intent for 2005-2010 was

issued to the Shareholder Ministers.

• For the Epping to Chatswood Rail Line project, 95%

of forecast construction commitments were

achieved and 99% of forecast expenditure was

accrued. For the Rail Clearways Program, 93% of

forecast construction commitments were achieved

and 89% of forecast expenditure was accrued.

• Contracts to the value of $185.5 million were

awarded with all probity processes in place.

• The three-yearly independent certification was

obtained for the Corporate Management System.

• Stage one of a new risk management framework

and software was rolled out across the Corporation.

Maintaining Sound Human Resource and

Office Management Processes

• Implementation commenced on a new cost

management system including training sessions

for staff.

• The staff turnover rate for the reporting year was

6.85% comparative to the 2004-2005 staff turnover

rate of 10.81%.

• Approximately 1950 training hours were completed

by staff, in line with TIDC’s commitment to skill

development.

• The operating systems and applications of the TIDC

computer system were upgraded to increase

productivity and improve security.

• Implementation commenced on a new corporate

filing system to more effectively manage

TIDC’s records.

• A web-based staff intranet was introduced,

providing an interactive internal communication tool

for staff.

Our Performance continued


9Work in progress to clip the rail onto the baseplates in the Epping to Chatswood Rail Line tunnel.


10

Epping to Chatswood Rail Line

The Epping to Chatswood Rail Line (ECRL) will be a new

12.5 kilometre underground passenger rail service

connecting Epping to Chatswood via North Ryde. It is the

largest publicly funded infrastructure project under way in

New South Wales.

As part of the project, three new state-of-the-art stations

are being built in North Ryde/Macquarie Park. To

accommodate the ECRL, Epping Station is being

upgraded and the Chatswood Transport Interchange is

being redeveloped.

Designed to meet the challenges of a growing population,

the ECRL will be fully integrated into the CityRail network.

When complete in 2008, it will create capacity for an

additional 12,000 rail passengers per day on the network

with train services running approximately every 15

minutes in each direction.

Key Activities During 2005-2006

Construction

• The underground excavation and concrete lining

was completed for both of the 12.5 kilometre rail

tunnels and for the platform and concourse caverns

of the stations.

• The next phase of construction began with the

laying of track and the installation of rail operating

systems. As at 30 June 2006, 21 kilometres of rail

track was laid in the two tunnels.

• Internal fit-out work began for the three new

underground stations and new underground

platform caverns at Epping Station. The installation

of back-of-house facilities also commenced.

• The concreting and steel work for the new aerial

concourse at Epping Station was substantially

completed and work commenced to install plant and

equipment including passenger lifts and escalators.

• Civil and rail interface works were completed south

of Chatswood Station. This included the

construction of retaining walls and noise walls to

accommodate the future alignment of the ECRL and

North Shore Rail Line.

• Following completion of the cut-and-cover tunnels

beneath the Lane Cove River, the worksite area in

the Lane Cove National Park was extensively

landscaped and rehabilitated. In December 2005,

the area was returned to the community.

• The western portion of the concrete track form and

track work including turnouts was completed in the

rail enclosure structure immediately north of

Chatswood Station.

Design

• The civil and structural detailed design for the ECRL

including the rail systems was completed.

• The detailed design was completed for a new

substation at Beecroft, including both architectural

and urban design elements. This substation will

provide some of the power supply needed to

operate the ECRL.

• The preliminary design for a new Beecroft Road

pedestrian bridge was undertaken in consultation

with the NSW Roads and Traffic Authority. This

bridge will include lifts and will directly connect to

the new aerial concourse at Epping Station.

Property Management

• Several property acquisitions were finalised for

the ECRL.

• A subdivision plan was lodged for the bus

turnaround at Langston Place as part of the upgrade

of Epping Station.

• Agreement was reached with the Department of

Environment and Conservation and other

government agencies for the vesting of the Lane

Cove National Park worksite land to the National

Parks and Wildlife Service and NSW Maritime.

• 11 property disputes were resolved by agreement

without court proceedings.

Community Liaison and Consultation

• Community notifications were distributed prior to

works with the potential to impact upon local

residents or businesses. This included a rolling

notification program in line with the progression of

the tunnel lining works.

The Year in Review


11

The Year in Review continued

• A project newsletter was produced and the TIDC

website was regularly updated.

• 17 community liaison group meetings were held for

the ECRL.

• Consultation was undertaken with the local

community regarding the landscaping, rehabilitation

and road works for the Lane Cove National Park

worksite. To mark the return of this worksite to the

public, a community breakfast was held to thank

local residents for their patience during construction.

• A comprehensive communication plan was

implemented to inform the community of the track

design for the ECRL. This included a personalised letter

to all property owners along the project route as well as

detailed factsheets for residents.

• 115 complaints associated with the project were

received and addressed.

• Consultation commenced with local stakeholders

regarding the Beecroft Road pedestrian bridge.

Operational Readiness

• An Operational Readiness Plan was updated for the

ECRL. This plan details how the infrastructure,

systems and other elements will be commissioned

and incorporated into the operating rail network.

Safety and Compliance

• 62 safety consultative inspections and 55 compliance

audits were undertaken across the project.

Commercial

• A construct-only contract was tendered and

awarded for the landscaping and rehabilitation of the

Lane Cove National Park worksite. This contract was

completed in the reporting year.

• A construct-only contract was tendered and awarded

for the construction of the Beecroft substation.

• Tenders were called for the design and construction

of the Beecroft Road pedestrian bridge.

Planning and Environment

• Ongoing environmental monitoring of all construction

activities was undertaken to ensure compliance with

the Project’s Conditions of Approval.

• Assistance was provided to the contractors in the

preparation of environmental plans and in obtaining

heritage permits.

• The Independent Property Impact Assessment Panel

(IPIAP) met on an as-needs basis. IPIAP acts as an

advisory body and reviews disputes regarding physical

property impacts claimed to be associated with the

construction of the ECRL. As at 30 June 2006,

15 property damage claims were referred to IPIAP, with

findings made on eight claims and seven claims pending.

• Liaison was undertaken with Ryde City Council in

relation to the future planning for the Macquarie

Park corridor.

• A Review of Environmental Factors was completed

for the Beecroft substation.

• One contractor was prosecuted by the Department

of Environment and Conservation (DEC) for working

outside of the hours specified in the DEC licence.

Key Achievements

• The successful return of the Lane Cove National

Park worksite to the community with a significantly

enhanced urban and environmental amenity – the

first ECRL worksite to be reopened to the public.

• Entering the next phase of construction delivery

with the commencement of rail track and rail

systems installation.

• The commencement of the fit-out works within the

station caverns.

Key Focus for 2006-2007

• The completion of the rail track installation within

the tunnels.

• The installation of the rail systems within the tunnels

targeted to be 75% complete.

• The completion and opening of the new aerial

concourse at Epping Station.

• The completion of a new pedestrian bridge over

Beecroft Road at Epping.

• The completion of the rail junction south of

Chatswood Station to provide the connection

between the ECRL and the North Shore Rail Line.

• The completion of trackwork including rail

crossovers on the eastern side of the North Shore

rail corridor immediately north of Chatswood Station.


12Fit-out work within the underground station caverns wascommenced during the year.


13

Chatswood Transport Interchange

The Chatswood Transport Interchange (CTI) is being

redeveloped as part of the Epping to Chatswood Rail Line.

The redevelopment project is being delivered as a Public

Private Partnership and involves a substantial upgrade to

Chatswood Station with new twin island rail platforms to

accommodate the future ECRL, easy access facilities, a

new pedestrian concourse, a new bus interchange and

taxi and kiss-and-ride facilities. The Help Street and Albert

Avenue rail bridges are also being replaced.

As part of the project, a 10,000 square metre retail centre

and three residential towers with associated underground

car parking will be developed.

The new CTI will provide convenient and efficient public

transport access, quality open spaces and well developed

buildings of high architectural and construction quality. It

will also serve to greatly enhance the urban amenity of the

precinct and improve pedestrian and traffic linkages in the

Chatswood central business district.


Construction

• The demolition of the old Interchange was completed

and a temporary pedestrian access bridge was

constructed across the rail corridor, providing an

east-west pedestrian linkage.

• Temporary station facilities were completed and

commissioned including rail platforms with lift access,

associated track and signalling systems and ticketing.

The old rail platforms were subsequently demolished.

• Major construction commenced for the new CTI on

the western side of the worksite. Activities focussed

on the construction of the new rail concourse,

permanent western platform, underground residential

car park and the retail centre.

• The western portions were constructed for new rail

bridges over Albert Avenue and Help Street, providing

wider bridge spans and higher bridge clearances.


Major construction commenced during the year for theredevelopment of the Chatswood Transport Interchange.


14

Design

• The detailed design of the CTI was significantly

progressed with 70% completed. The design is

scheduled to be substantially complete by the end

of 2006.

Property Management

• All properties required for construction have been

acquired and agreement reached with the majority of

landowners and tenants. Determinations for various

minor interests were carried over into the next

reporting year.

• A Plan of Consolidation was prepared and lodged for

pre-examination at Land and Property Information.

The Plan provides for clear titles for the RailCorp and

TIDC owned land between Help Street and Albert

Avenue and will assist in the final subdivision for

development of the new transport precinct.




residents or businesses. This included notification of

the scheduled five day closedown of the North

Shore Rail Line during the Christmas period.



• 10 meetings of the community liaison group

were held.

• A comprehensive communication plan was

implemented to inform commuters of access

changes around the precinct including the opening

of the temporary rail platforms. This included printed

materials and maps, on-site signage, advertisements

in the local newspaper and on-site information staff

during key access changes.




• 11 safety consultative inspections and 15

compliance audits were undertaken.


Temporary station facilities were constructed to allow worksto occur on the western side of the rail corridor.


15

Commercial

• The CTI development deed was executed and the

conditions precedent were successfully met.

• A CTI Contract Manager contract was tendered

and awarded.

• A CTI Independent Certifier contract was tendered

and awarded.


• Ongoing environmental monitoring of construction


the Conditions of Approval.

• Assistance was provided to the contractor in the

preparation of environmental plans and obtaining the

necessary statutory approvals that enabled

construction deadlines to be met.

• Liaison was undertaken with the CTI developer in

relation to the Development Application for the

residential and retail components.

• A public domain working group was established with

Willoughby City Council and the project developer.

Key Achievements

• The safe and timely demolition of the old

Interchange, allowing major construction

to commence.

• The transfer of station operations to the

temporary platforms.

• The undertaking of major construction in a complex

rail environment with no significant impacts on the

operating network.

• The successful relocation of the 35,000 rail

passengers that use Chatswood Station each

working day to the temporary rail platforms with

minimal community or commuter complaint.


• The completion of the permanent western rail

platform and associated track and signalling works

and the successful relocation of commuters to the

new facilities.

• The completion of the eastern portions of the Help

Street and Albert Avenue rail bridges.

• The commencement of major construction on

the eastern side of the worksite including

the completion of bulk excavation and

structural elements.



16

The proximity of the new Argyle Street bus interchange toParramatta Station makes accessing transport services easierand safer for commuters.


17

Parramatta Transport Interchange

The Parramatta Transport Interchange (PTI) has been

redeveloped to provide improved transport services and

facilities for the growing population of western Sydney.

While final finishing works are ongoing, the PTI was

officially opened during the reporting year for the benefit

of the 55,000 rail commuters and 6,700 bus commuters

who use it each working day.

The redevelopment involved an upgrade of Parramatta

Station including platform and concourse extensions and

a new bus interchange in Argyle Street. Passenger

amenities were upgraded throughout the Interchange.

In addition, a new underground pedestrian concourse

was constructed beneath Argyle Street, providing a

weatherproof link between Parramatta Station and the

new Westfield retail development.

The new PTI makes accessing transport services easier

and safer by connecting Parramatta Station, one of the

busiest on the CityRail network, with the Western Sydney

Transitway network, local buses, taxis and private vehicle

kiss-and-ride facilities.


Construction

• Major construction of the redeveloped station and

open air bus interchange was completed, involving

substantial civil and rail works. These facilities were

opened in February 2006.

• The new Westfield restaurant, retail and cinema

complex was completed, providing vitality and

amenity in the PTI precinct at all times of the day.

• The underground pedestrian concourse to the new

Westfield development and the linkages required for

the connection to the future Civic Place

development were completed.

• Final finishing and commissioning works were

commenced including ancillary road works in the

precinct and works to complete the station facade.

Design

• The detailed design for the PTI was completed

including architectural, civil and urban design elements.

• The design of the public art wall facing Argyle Street

was completed. The design represents the

importance of public transport in the development

and growth of Parramatta City.

• A reference design for the Argyle Street hotel

development was completed.

Property Management

• A subdivision plan was prepared to define the

transport interchange precinct.

• In principle agreement was reached on a precinct

management deed that is designed to effectively

coordinate the operation of the PTI site including

maintenance, cleaning, safety and security functions.




residents or businesses.



• Comprehensive communication plans were

implemented to assist commuters with access

changes around the precinct. This included printed

materials and maps, on-site signage, advertisements

in the local newspaper and on-site information staff

during key access changes.

• A complimentary breakfast was provided at the PTI

in the week following the official opening to thank

commuters and the community for their patience

during construction.





18


• An Operational Readiness Plan was completed and

implemented.




Commercial

• Tenders were sought and a preferred tenderer was

selected for the Argyle Street hotel development.


• Ongoing environmental monitoring of construction


the Conditions of Approval.

• Assistance was provided to the contractors in the

preparation of environmental plans.

• A heritage interpretation strategy was finalised for

the PTI and implementation commenced.

• An Operational Environmental Management Plan

was completed prior to the opening of the new

transport facilities in consultation with RailCorp. This

Plan was approved by the Department of Planning

and provides guidance and procedures for the

ongoing management of environmental issues at the

PTI by the operators.

Key Achievements

• The PTI was opened 10 months ahead of

schedule, providing commuters with an improved

transport facility.

• The PTI was awarded the Architectural Industrial

and Commercial Steel Design Award at the ASI

Steel Awards 2006.

• The PTI was awarded the Royal Australian Institute

of Architect’s (NSW Chapter) Premier’s Award 2006

for advancement of architecture.


• The final completion of all project elements

including heritage interpretation and

restoration works.

• The final completion of all contractual processes for

construction with the defects management period

to then commence.

• The completion of the sale of the Argyle Street

hotel development.

• The finalisation of the land subdivisions for

the precinct.

• The transfer of the PTI assets from TIDC

to RailCorp.

• The transfer of the proponency for the operation of

the PTI from TIDC to RailCorp.



19

A new underground rail crossover tunnel connecting the existingEastern Suburbs Rail Line tunnels was completed during the yearat Bondi Junction.


20

Rail Clearways Program

The Rail Clearways Program is designed to improve

capacity and reliability on CityRail’s network, presently

recognised as one of the most complex in the world.

Due for completion in 2010, the Rail Clearways Program

comprises 15 key projects that will separate the network’s

14 metropolitan rail routes into five clearway routes.

The 15 projects will remove bottlenecks and junctions,

reduce congestion and delays and allow for simpler

timetables for more reliable and frequent services.

This will mean that an incident on one part of the rail

network will have a limited effect on services on other

clearways. It will also increase the capacity of the CityRail

network to meet continuing growth in patronage from

both suburban and intercity areas.

The 15 projects involve the construction of additional

track, platforms, turnbacks, stabling facilities and/or train

crossing loops and are at various stages of delivery. The

Macdonaldtown Turnback was completed in 2005 (by

RailCorp) and the Bondi Junction Turnback was

completed in 2006. As at 30 June 2006, seven projects

are due for completion by 2008 and six projects are due

for completion by 2010.


Construction

• In November 2005, work commenced for the

Berowra Platform project. This involves the

construction of a new platform on the western side

of Berowra Station, a new pedestrian overbridge

and improved access for passengers with limited

mobility. Work was well progressed during the year

for the construction of the new footbridge and

platform and associated overhead wiring works.

• In December 2005, the Hornsby Station Platform 5

and Stabling project was commenced with site

establishment and site investigation work. The

project includes a new platform at Hornsby Station

as well as track work and a new stabling facility to

support the future Epping to Chatswood Rail Line.


Bridge beams are installed for a new pedestrianoverbridge at Berowra Station during a weekendclosedown of the rail line.


21

• Construction of the Macdonaldtown Stabling project

commenced in March 2006 with site establishment

and site investigations undertaken by the year end.

This project will provide a train stabling yard for eight

trains in close proximity to the Sydney Central

Business District.

• The Bondi Junction Turnback was completed in April

2006 following approximately 18 months of

construction. The project involved the construction of

a new underground rail crossover tunnel between the

existing Eastern Suburbs Rail Line tunnels including

track, signalling and communications works.

• In June 2006, site establishment works commenced

for the Homebush Turnback and Lidcombe

Turnback projects. These projects will simplify rail

operations, improve service reliability and ease

passenger congestion on South Line trains.

• Agreement was reached with the Australian Rail

Track Corporation and RailCorp regarding the

proposed project alignment for the Liverpool

Turnback project.

Design

• Detailed design commenced for the following

projects: Homebush Turnback, Hornsby Station

Platform 5 and Stabling, Lidcombe Turnback,

Macdonaldtown Stabling and Revesby Turnback.

• Initial design work commenced for the following

projects: Kingsgrove to Revesby Quadruplication,

Liverpool Turnback and Macarthur Station Platform 4.

Property Management

• Permanent and temporary land requirements were

identified for the Rail Clearways Program. Discussions

were held with various councils regarding construction

licences to enable works to commence.

• All property required for the Berowra Platform

project was acquired.

• A property was acquired for the Revesby

Turnback project.


The new pedestrian overbridge at Berowra Station includeslift access to provide easier access for all commuters.


22


• Project specific communication strategies were

developed and implemented to inform and engage

the community during the planning phase for the

Cronulla Line Duplication, Homebush Turnback,

Hornsby Station Platform 5 and Stabling, Lidcombe

Turnback, Macdonaldtown Stabling and Revesby

Turnback projects.

• The community was notified of the formal exhibition

of the Review of Environmental Factors for the

projects at Cronulla, Homebush, Hornsby,

Lidcombe, Macdonaldtown and Revesby via

advertisements and printed materials. Staffed

information sessions were held for each project to

allow residents to ask questions prior to making

formal submissions.

• Tailored communication plans were developed in

advance of construction commencing for the

Berowra Platform, Homebush Turnback, Hornsby

Station Platform 5 and Stabling, Lidcombe

Turnback, Macdonaldtown Stabling and Revesby

Turnback projects.



residents or businesses in Berowra, Homebush,

Hornsby, Lidcombe, Macdonaldtown and Revesby.

• The TIDC website was regularly updated on the

status of each project.

• Community liaison groups were established for the

Hornsby Station Platform 5 and Stabling and

Macdonaldtown Stabling projects and seven

meetings were held.

• 24 complaints associated with the Rail Clearways

Program were received and addressed.


• An Operational Readiness Plan was completed and

implemented for the Bondi Junction Turnback project.

• A draft Operational Readiness Plan was developed

in preparation for the completion of the Berowra

Platform project in late 2006.


• A Safety Change Plan and a draft Safety

Assessment Report were completed for the

Berowra Platform project. These documents will

be used as a template for the remaining Rail

Clearways projects.


compliance audits were undertaken for Rail

Clearways projects.

Commercial

• Design and construct contracts were tendered and

awarded for the turnback projects at Homebush,

Lidcombe and Revesby.

• A design and construct contract was awarded for

the Macdonaldtown Stabling project.

• A managing contractor contract was awarded for

the Hornsby Station Platform 5 and Stabling project.

• A construct-only contract was awarded for the

Berowra Platform project.

• Three project management contracts were tendered

and awarded for the project management and contract

administration of four design and construct contracts

for Clearways projects to be delivered by 2008.

• A tender was issued for the design and construction

of the Cronulla Line Duplication project.



23


• TIDC obtained an amendment to State

Environmental Planning Policy 63 – Major Transport

Projects to provide a streamlined planning approval

process for all Rail Clearways projects.

• A Review of Environmental Factors (REF) was

prepared and exhibited for the Rail Clearways

projects at Homebush, Hornsby, Lidcombe,

Macdonaldtown and Revesby. Public submissions

for each REF were reviewed and a Submissions

Report for each project was prepared detailing

project changes incorporated in response to

submissions. Planning approval was subsequently

granted for each of these projects.

• A Review of Environmental Factors was

developed and exhibited for the Cronulla

Line Duplication project.

• A Species Impact Statement was prepared for the

Hornsby Station Platform 5 and Stabling project.

In line with the findings of this study, a 5,500 square

metre section of Blue Gum High Forest was

purchased in St Ives to offset the loss of a smaller

section of Blue Gum High Forest from the rail

corridor south of Hornsby Station.

• TIDC was granted an Environmental Protection

Licence by the Department of Environment and

Conservation to enable the construction of the

Hornsby Station Platform 5 and Stabling project.

• A property damage claim management process was

established for the Rail Clearways Program.

• Environmental monitoring of construction activities at

Berowra, Bondi Junction, Homebush, Hornsby,

Lidcombe and Macdonaldtown was undertaken to

ensure compliance with the projects’ Conditions

of Approval.

• Environmental management representatives (EMRs)

were engaged for the Berowra, Homebush,

Hornsby, Lidcombe, Macdonaldtown and Revesby

projects. The EMRs provide independent advice on

environmental and compliance issues and undertake

regular inspections and audits of environmental

controls and systems.

Key Achievements

• The Bondi Junction Turnback was the first of

TIDC’s Rail Clearways projects to be completed.

• Planning approval was granted and contracts were

awarded for five of the Rail Clearways projects

scheduled for completion by 2008.


• The completion of the Berowra Platform project.

• The completion of the Macdonaldtown

Stabling project.

• The construction of infrastructure to be well

advanced for the projects at Homebush, Hornsby,

Lidcombe and Revesby.

• The commencement of major construction for the

Cronulla Line Duplication project.

• The concept design development to be under way

for the Rail Clearways projects scheduled for

completion by 2010.

• The completion of the Sydenham to Erskineville

Extra Tracks project feasibility study.



24

North Sydney Station Upgrade

The North Sydney Station Upgrade (NSSU) project is

designed to reduce existing crowding at the station and to

accommodate the predicted future patronage growth. In

addition, the upgrade is designed to provide easier access

for passengers with limited mobility and to improve the

physical working environment for station staff.

When complete in 2008, the project will deliver an

expanded concourse with new passenger facilities

including additional ticket barriers, lifts, escalators and

enhanced safety and fire detection and security systems.


Construction

• Early works for the NSSU commenced in May 2006.

This first stage of work involved site establishment,

construction of alternative facilities for station staff

and preparatory works in advance of the temporary

closure of Platform 2.

Design

• The detailed design for the project was substantially

progressed. The design is scheduled to be complete

in the next reporting period.

Property Management

• Permanent and temporary land requirements were

identified for the project.

• A lease agreement was executed between TIDC and

the NSW Roads and Traffic Authority for the

temporary use of the Blue Street car park for

construction purposes.


• A communication strategy was developed and

implemented to inform and engage the community

during the planning phase of the project. Activities

included letterbox drops, community information

sessions and stakeholder consultation.

• During the formal exhibition of the Review of

Environmental Factors the community was notified

via advertisements and printed materials. Staffed

information sessions were also held to allow the

community to ask questions prior to making a

formal submission.

• A tailored communication plan was developed in

advance of the early works construction and community

notifications were distributed prior to works with the

potential to impact upon local residents or businesses.


An artist’s impression of the Blue Street frontage of theNorth Sydney Station Upgrade.


25

• The TIDC website was regularly updated regarding

the status of the project.

• No complaints regarding the project were received

during the year.


• Three safety consultative inspections and two


Commercial

• A managing contractor contract was tendered for

the project.

• A two stage engagement agreement was

implemented. Stage one provides for the

management of the design and minor rail enabling

and investigation works. Stage two covers the

construction of the project.


• A Review of Environmental Factors for the project

was prepared and exhibited. Public submissions

were reviewed, a Submissions Report was prepared

and planning approval was subsequently granted

subject to conditions.

• Environmental monitoring of construction activities

for the early works was undertaken to ensure

compliance with the Conditions of Approval.

• An environmental management representative was

engaged to provide independent advice on

environmental and compliance issues and to

undertake regular inspections and audits of

environmental controls and systems.

Key Achievements

• The planning approval process for the project was

completed, allowing the early works construction

to commence.

• Detailed design for the project was commenced.


• The completion of the detailed design for

the project.

• The commencement of major construction

including the new roof structure, upper concourse

and reconstruction of Platform 1-2.



26


Metropolitan Rail ExpansionProgram

The Metropolitan Rail Expansion Program (MREP) is a key

element of the NSW Government’s Metropolitan Strategy

for Sydney. The Program consists of the South West Rail

Link, the North West Rail Link and the CBD Rail Link.

The South West Rail Link (SWRL) is a proposed new 12

kilometre passenger rail line from Glenfield to Leppington

including new stations at Edmondson Park and

Leppington, an upgrade of Glenfield Station and a train

stabling facility to the west of Leppington Station.

The North West Rail Link (NWRL) is a proposed new 23

kilometre passenger rail line from Epping to Rouse Hill via

Castle Hill. The NWRL would primarily be in tunnel and

include six new stations and a train stabling facility north

west of Rouse Hill Town Centre.

The CBD Rail Link (CBDRL) is a proposed new passenger

rail line from Redfern to Chatswood via the Sydney CBD.

The CBDRL would primarily be underground and would

include new stations.

All three projects are in the early stages of project

development.

During the reporting year, TIDC was given responsibility to

undertake project development work.

Metropolitan Rail Expansion Program


27

This includes confirming the alignment for the projects,

conceptual design development for the NWRL and SWRL

and the preparation of documentation for concept

approval applications and environmental assessments for

the NWRL and SWRL.


Design

• A project review of the NWRL was undertaken

including a review of the previous work completed

covering design, constructability, land requirements,

environmental impacts, patronage and economic

appraisal.

• A project review of the SWRL was undertaken

including the preparation of a concept design,

review of constructability, assessment of land

requirements, environmental impacts and patronage

and the preparation of an initial project financial and

economic appraisal.

• Pre-feasibility reports were prepared on alternate

route options for the CBDRL.

• A Route Option Comparison Report was prepared

for the CBDRL to assist in the ongoing planning and

development of the project.

Property Management

• Initial property studies were completed for the MREP

projects. These studies identified the land affected

by the proposed corridors and provided valuation

advice in accordance with the provisions of the Land

Acquisition (Just Terms Compensation) Act 1991.


• A project newsletter was letterboxed to 27,000

properties in proximity to the proposed NWRL.

• A project newsletter was letterboxed to 3,500

properties in proximity to the proposed SWRL.

• A communication strategy was developed and

implemented to inform stakeholders of the change

to the State Environmental Planning Policy 63 –

Major Transport Projects for the CBDRL. This

involved consultation with key stakeholders and a

letter to all potentially affected property owners.

• The TIDC website was updated regarding the status

of these projects.

• 174 enquiries were received and addressed.


• A Project Application was completed and submitted

to the Department of Planning for the NWRL.

• A Project Application was completed and submitted

to the Department of Planning for the SWRL.

• TIDC provided advice on an amendment to State

Environmental Planning Policy 63 – Major Transport

Projects to protect the two corridors for

the CBDRL.

• TIDC requested that the Minister for Planning

declare the SWRL and NWRL as major projects

under Part 3A of the Environmental Planning and

Assessment Act 1979. The Minister for Planning

made an order to this effect in April 2006.

• The Environmental Assessment and Concept Plan

for the NWRL were commenced.

• The Environmental Assessment and Concept Plan

for the SWRL were commenced.

Key Achievements

• A Project Application was submitted to the

Department of Planning for the NWRL.

• A Project Application was submitted to the

Department of Planning for the SWRL.

• An amendment was made to State Environmental

Planning Policy 63 – Major Transport Projects to

include the CBDRL.


• The completion of the environmental assessment

and concept design for the NWRL.

• The completion of the environmental assessment

and concept design for the SWRL.

• The completion of feasibility studies for the CBDRL.



28

Engaging the community and stakeholders to

deliver an improved urban outcome.

In 2003, a worksite was established in the Lane Cove

National Park (Park) for the construction of cut-and-cover

tunnels beneath the Lane Cove River for the Epping to

Chatswood Rail Line (ECRL).

In establishing the worksite, a key entrance to the Park

was closed for a period of more than two years. During

this time extensive construction was undertaken in close

proximity to local residents.

Given the environmental and urban significance of the

Park, TIDC proactively undertook to rehabilitate the

worksite to a level exceeding the pre-construction amenity

and the requirements set down in the ECRL’s Conditions

of Approval.

To achieve this, a Landscape and Rehabilitation

Masterplan was developed and implemented. TIDC’s aim

was to return the area to the community with a

significantly enhanced urban and environmental amenity,

with a design that reflected the rich cultural heritage of the

Park and encouraged visitors to the important precinct in

the heart of Sydney.

The Masterplan focussed not only on the worksite but also

on the adjacent Park area. The landscaping was extended

to tangible boundaries such as the River and street

frontages to ensure seamless physical and visual links.

A comprehensive consultation program was implemented

to obtain stakeholder and community input and to ensure

acceptance and ownership of the design.

As a key outcome of the consultation, TIDC extended the

scope of the project to include additional road works at

the main Park entrance to improve access and to address

pre-existing traffic issues experienced by local residents.

Engaging the Community and Stakeholders

In line with its commitment to engaging the community

and stakeholders, TIDC established a steering group for

the Masterplan development process.

Membership included TIDC, the construction contractor

the Thiess Hochtief Joint Venture, the landscape architect

commissioned to develop the Masterplan, the National

Parks and Wildlife Service (NPWS) and local community

representatives drawn from the project’s Lane Cove

National Park Community Liaison Group.

Case Study: The Lane Cove National Park Worksite

The Epping to Chatswood Rail Line’s Lane Cove National Park worksite wasextensively rehabilitated and landscaped before being returned to the public.


29

This forum met regularly throughout the design

development and provided the community and

stakeholders with direct input and involvement at all

stages of the process.

Preliminary consultation was also undertaken with eight

NSW government agencies, two local councils and the

Local Aboriginal Land Council.

Through this process, three Masterplan design options

were developed. These options were then workshopped

with key stakeholders and a preferred Masterplan option

was selected.

To allow the wider community to comment, TIDC

proactively exhibited the Masterplan proposal.

A brochure and comment form was letterboxed to 4,500

households and advertisements were placed in the local

newspaper. Displays were established at two locations

with detailed information on the proposal and three

staffed information sessions were held to allow residents

to ask questions before making a submission.

More than 90 community responses were received. The

majority of responses supported the Masterplan design,

with comments predominantly about the traffic

configuration at the Park entrance and local traffic issues

pre-existing the worksite.

The submissions received were considered, and where

possible accommodated, in the finalisation of the

Masterplan.

In response to the community’s request to address the

pre-existing traffic issues, the project scope was

extended to include additional road works. TIDC brokered

a three-way funding arrangement with Ryde City Council

and the NSW Roads and Traffic Authority to achieve this

whole-of-government outcome.

Achieving an Improved Urban Outcome

The key goals for the Masterplan included a design that:

• Improved user amenity and accommodated the

diverse activities undertaken in the Park;

• Protected and supported the ecology of the area;

• Acknowledged the Park’s heritage for current and

future generations; and

• Improved access to the Park for visitors and the

adjacent community.

These goals were achieved in the following ways.

User amenity: An improved use of physical space for

recreational activities was achieved by the consolidation

of passive recreation areas into one zone. Visitor facilities

including new barbeques and picnic shelters were

also provided.

Ecology protection: The vast majority of the planting

was drawn from locally endemic species, propagated

from seeds collected in the Lane Cove Valley.

Heritage value: Close consultation with heritage

specialists and the NSW Heritage Office was undertaken

to ensure the safe removal, storage and reinstatement of

items of significant heritage value.

Improved access: A reconfiguration of the Park entrance

improved pedestrian, vehicle and cyclist interaction and

avoided queuing onto a major arterial road.

The additional road works that were incorporated in the

project provided:

• An upgrade of the Ryde City Council car park

opposite the Park entrance;

• Improved bus pull-over areas reducing traffic

conflicts;

• Improved pedestrian access to bus stops and

around the precinct;

• Improved access arrangements from Delhi Road into

the local road network; and

• Improved vehicle access into the Park.

The worksite was returned to the public at a celebratory

picnic held by TIDC in December 2005.

In engaging the community and stakeholders, a whole-of-

government outcome was achieved for the benefit of

local residents and the wider community.

Case Study: continued


30

Corporate Governance Corporate governance encompasses the

structures, systems and processes by

which TIDC directs its business practices

both strategically and in the day-to-day

delivery of its projects.

TIDC is dedicated to striving for and

maintaining an exemplary standard of

corporate governance in all of its activities

by operating on a legal and ethical basis as

a good corporate citizen.

Leadership, accountability, disclosure and

probity are key to this outcome. Ongoing

strong guidance by TIDC’s Board and senior

management will ensure corporate

governance continues to remain central at

all levels of the Corporation.

Board of Directors

The TIDC Board is accountable to the

Shareholder Ministers for developing and

delivering major transport infrastructure

projects in an efficient, effective and

financially responsible manner.

The role of the Board is to set the strategic

direction of the Corporation, establish

performance targets set out in the

Statement of Corporate Intent (negotiated

annually between TIDC and the Shareholder

Ministers) and to monitor the Corporation’s

progress in achieving targets. The Board

also oversees the Corporation’s plans for

acquiring and organising financial and

human resources to achieve its objectives.

The Transport Administration Act 1988 and

the State Owned Corporations Act 1989

provide the legislative basis for the structure

of the TIDC Board. The appointment and

the term of each Directors appointment

are determined by the Shareholder

Ministers following consultation

with the Portfolio Minister.

Under the State Owned Corporations

Act 1989 and TIDC’s Constitution, TIDC

may indemnify its Directors with the

approval of the Shareholder Ministers.

All Board Directors have been granted

such approval and have been given a

Deed of Indemnity.

The TIDC Board comprises five members

– three non-executive Directors plus the

Chief Executive Officers of RailCorp and

TIDC. The RailCorp and TIDC Chief

Executive Officers were appointed to the

Board by virtue of their positions.

The non-executive Directors were

appointed to the Board by the

Shareholder Ministers in the previous

reporting period. All non-executive

Directors’ terms expire on 30 June 2008.

The remuneration of the non-executive

Directors is determined by the Voting

Shareholders. For the reporting year, this

remuneration totalled $164,142.

Directors’ attendance at regular Board

meetings is shown in the Appendices to

this Report.

Ron Finlay

LLB (Sydney)

Ron Finlay was appointed as Chairman of

the TIDC Board in December 2004. Mr

Finlay is a lawyer and is the Chief

Executive of Finlay Consulting. He has

had over thirty years experience in

negotiating and leading infrastructure,

construction and property development

projects in Australia and overseas for both

public and private sector organisations.

Throughout his career he has served on

public and private sector boards,

including two years on a publicly listed

energy company, six years on the Darling

Harbour Authority, three years on the

Central Sydney Planning Committee,

Ron Finlay

Sue Holliday

John Barraclough


31

10 years on the board of a major airport

asset owner as well as providing strategic

advice to chief executive officers and boards

of major public and private institutions.

John Barraclough

B Eng (Civil) (Hons)

John Barraclough was appointed to the

TIDC Board as a non-executive Director in

April 2005. He was the Project Director for

the Parramatta Rail Link Company from

2001-2003, and subsequently the Chief

Executive Officer of TIDC until March 2005.

In this capacity he was also a member of

the Board. Mr Barraclough is currently a

member of the Growth Centres

Commission and an Associate Director of

the Premier’s Infrastructure Implementation

Group. Prior to 2001, Mr Barraclough was

the Executive Director of Development for

the Olympic Coordination Authority. He

also has extensive experience in the

construction and engineering industries,

having been General Manager of

MacMahon Limited and Operations

Manager of Abigroup Limited.

Sue Holliday

B A (ECON), Mphil (Town and Country

Planning), MPIA

Sue Holliday was appointed to the TIDC

Board in December 2004. Ms Holliday was

Director General of Planning for the NSW

Government from 1997-2003. She is

currently the Director of City Strategy at

DEGW and works with developers,

investors and government agencies to

advise and brief them on the impact of

changing work patterns and lifestyles on

cities, precincts and strategic sites. Ms

Holliday also holds the position of National

President, Planning Institute of Australia.

Vince Graham

B Eng (Civil), Grad.Dip.Mgmt, FAICD

Vince Graham is Chief Executive Officer of

RailCorp. Mr Graham was appointed to

the TIDC Board in January 2004 and

previously served as a member of the

Parramatta Rail Link Company Board from

July-December 2003. Mr Graham has

over 30 years experience in the rail

industry. He has previously held the

position of Managing Director of National

Rail Corporation, Chief Operating Officer

of State Rail Authority and Managing

Director of Grain Handling Authority of

NSW. In each of these senior executive

positions, Mr Graham’s role has been to

develop and lead a strategic reform

program with a focus on customer

service, quality improvement and safety

and risk management.

Chris Lock

B Sc (Hons), MRICS, ACIArb, AIAMA

Chris Lock was appointed Chief Executive

Officer of TIDC and a member of the TIDC

Board in April 2005. Previously, Mr Lock

held the position of Principal and Director

at Evans & Peck management

consultants, providing expertise in

business planning and commercial and

project management issues to both

private and public sector clients. Mr Lock

has more than 30 years experience in the

construction industry both in Australia and

overseas and has been a director at two

of Australia’s major construction

companies. Notable Australian projects he

has been associated with include Darling

Harbour, the Sydney Harbour Tunnel,

Anzac Bridge and Melbourne City Link.

Corporate Governance continued

Vince Graham

Chris Lock


32


Professional Services Contractors

Construction Contractors

Specialist Resources

TIDC Outsourced

Board Safety Committee

TIDC Board

CEO

Board Finance & Audit Committee

General ManagerProject Delivery

Director Rail,PTI, CTI,

NSSU

DirectorECRL

Rail CIVSYS-1

STAT-EAST

CM-E

DirectorClearways

Berowra

HomebushLidcombe

Revesby

Macdonaldtown

Cronulla

Commissioning

Reliability

OperationalReadiness

Maintenance

Hornsby

Macarthur

Carlingford

Liverpool

K2R

Quakers Hill

PTI

CTI

NSSU

CIMS

Legal Advisor

Project InsuranceAdvisor

Project Controls

Contract Support, Documentation & Tendering

DirectorProcurement

CommercialSupport

DirectorSafety &

Compliance

Safety

Systems

Compliance

Auditors

Board RemunerationCommittee

IT HR Office

Library

Reception

DirectorOperations &

Design

OperationsProject

DevelopmentDesign

TechnicalAdvisors

OtherSpecialists

Director Property

ValuersDisposalsAcquisitionsAcquisitionSpecialist

Legal Advisor

Chief FinancialOfficer

TreasuryAccounts

Director Communications

GovernmentRelations

CorporateCommunications

Public Affairs

Director Planning& Environment

EnvironmentPlanning

ConsultantsPlanning EMR’s

General ManagerProject

Development

General ManagerCommercial

Corporate Secretary,

Manager CorporateServices

➔ ➔

➔

➔

➔

Director Reliability &Operational Readiness

Corporate Structure as at 30 June 2006


33

Management Directors as at 30 June 2006

Name Position Qualifications

Chris Lock Chief Executive Officer B Sc (Hons)

Bevan Brown General Manager, Commercial B E (Civil)

(Commenced 29 May 2006)

John Maher General Manager, Commercial B E, MPM

(Retiring 31July 2006)

Scott Lyall General Manager, Project Delivery B Eng (Civil) (Hons)

Tim Parker General Manager, Project Development B Sc (Hons), MBA

Deirdre McCue Director, Communications BA

Glenn Bentley Director, Clearways B Eng (Civil) (Hons)

James White Director, Property ASCS, MRICS, GDPM, Reg Valuer

Joseph Leung Chief Financial Officer BCom, CPA

Ken Kelman Director, Safety and Compliance Grad Dip OHM, Master App Sc OStJ,

CFSIA, AFAIRM, JP

Martin Halliday Director, Planning and Environment BA, MTCP

Michael Barnfield Director, ECRL B E, B Sc

Michael Hickey Director, Reliability and Operational Readiness B Eng (Civil) (Hons), Grad Dip – P M and I R

Neil Bulgin Director, Rail, PTI, CTI and NSSU B Sc (Civil)

Philip Bartels Director, Procurement B E (Hons), B Sc, Grad Dip Mgmt

Jane Spring Corporate Secretary, Manager Corporate Services BEc (Hons), LLB, ACIS



34

Internal and External Performance Reviews

TIDC has third party certification of its management

system, which is certified as fulfilling the requirements of

the Quality Management Standards ISO 9001:2000.

During the reporting period, TIDC secured the

independent certification of its Corporate Management

System for an additional three years.

The management system satisfies the management

requirements of Environmental Management

(ISO 14001:1996), Risk Management (AS 4360), Rail

Safety Management (AS 4292) and NSW Government

OHS Management Systems Guidelines.

TIDC holds accreditation under the NSW Rail Safety Act

2002 to manage the delivery of the Epping to Chatswood

Rail Line project including the Parramatta Transport

Interchange and the Chatswood Transport Interchange.

During the year, TIDC also obtained accreditation for the

Rail Clearways Program and the North Sydney Station

Upgrade project.

In anticipation of the NSW Rail Transport Regulator

implementing the National Rail Safety Accreditation

requirements, TIDC proactively secured an amendment to

allow contractors to work under its Rail Safety

Accreditation. This amendment enables TIDC to continue

awarding contracts for rail transport development projects.

During the reporting period, as part of the 2005-2006

Internal Audit Plan, TIDC successfully completed a fraud risk

assessment. Conducted by a third party auditor, the fraud

risk assessment concluded that TIDC has effective controls

to prevent and detect irregularities including fraud. Actions

to mitigate identified risks are now being implemented.

TIDC’s performance review mechanisms include:

• External audit by Independent Third Party

Certifiers to validate compliance with management

system standards;

• Internal audits to review compliance with

management system processes;

• External audits on contractors, suppliers and

consultants on their performance in complying with

contract requirements; and

• Six-monthly staff performance reviews, incorporating

a review of staff training needs to maximise

employee opportunities and output.

TIDC operates a collaborative audit process that involves

each major design, professional services and construction

contractor in the planning and conducting of compliance

audits. During the year, 67 audits were conducted on

major design, professional services and construction

contractors. In addition, TIDC participated in 46 internal

audits held by contractors. These audits resulted in 771

findings of which 90% of the audit findings were closed

out within the determined timeframe.



35

Further, 20 internal audits across all TIDC functional directorates were conducted.

Internal TIDC audits Result and benefit from review

Engagement of professional services contractors Review found effective controls were in place to govern this function.

Rail Clearways project planning and reporting Review found effective controls were in place to govern this function.

Payroll functions Review found effective controls were in place to govern this function.

IT external access security Review found effective controls were in place to govern this function.

Fraud prevention and detection Review found effective controls were in place to govern this function.

Expenditure control and reporting Review found effective controls were in place to govern this function.

Corporate management system Review found that the management processes were adequately

(performed as a series of 11 internal audits) implemented to deliver services for the NSW Government.

Revision of safety management processes to Review found that the TIDC safety management processes

comply with amended rail safety accreditation comply with the requirements of the rail industry regulator

(the Independent Transport Safety & Reliability Regulator) to

deliver rail infrastructure projects.

Rail safety interface agreement with RailCorp Review found that TIDC has effectively implemented the rail safety

interface agreement with RailCorp.

Environmental compliance (quarterly internal audits) Review found that TIDC operates environmental management

processes that comply with the conditions of planning approval

for the Epping to Chatswood Rail Line.

External audits Result and benefit from review

Recertification audit by independent certification body Audit confirmed that TIDC operates effective management

processes to deliver expected outcomes for the NSW Government

and its shareholders.

67 audits of professional services and construction Audits were conducted collaboratively with the contractors and

contractors including the following areas: found systems were in place to ensure the appropriate

• Contract management system; management of works.

• Design management; Areas for improvement were identified and are being implemented.

• Construction management; The actioning of these findings is monitored and confirmed to ensure

• Rail safety & OHS management; effective completion, with outcomes reported to the TIDC Board,

• Environmental management; the Board Finance & Audit Committee, the Board Safety

• Community relations management; Committee and Program Project Control Groups.

• Subcontract management; and

• Risk management.



36

Management Improvement Plans

The TIDC Corporate Management System contains a

strategy for continual improvement. This includes a process

of regularly reviewing the Corporation’s management

improvement plans and a process of regularly reviewing the

Corporation’s risks to prevent or minimise their impact.

During the reporting period, the Corporate Management

System was extensively amended to accommodate the

added responsibility of ensuring the construction contractors

meet the requirements of the TIDC rail safety accreditation.

The amendments also take into account the requirements

of the RailCorp safety change management framework

during the design, construction and commissioning phases

of rail transport infrastructure development projects.

SAI Global Limited, an Independent Third Party Certification

Body for management systems, reviewed the suitability of

the revised management system and confirmed its

compliance with the requirements of AS 4360 Risk

Management, ISO 9001 Quality Management,

ISO 14001 Environmental Management, NSW Government

OHS Guidelines and AS 4292 Rail Safety Management.

The following management improvement plans were in

place during the reporting period:

• Risk Management Plan;

• Project Establishment Plan;

• Time Management Plan;

• Cost Management Plan;

• Planning and Environment Management Plan;

• Scope and Design Management Plan;

• Procurement Management Plan;

• Property Management Plan;

• Safety Management Plan;

• Operational Readiness Management Plan;

• Communication Management Plan;

• Compliance Management Plan; and

• Energy Management Plan.

Risk Management and Insurance Activities

TIDC’s Risk Management Plan has been designed and

implemented in compliance with AS 4360 Risk Management.

During the year, TIDC introduced a new risk database to

facilitate the identification and management of corporate

risks as well as project and safety risks.

The database facilitates the monthly review and reporting of

mitigation actions and the sharing and transfer of

information between the responsible parties. At each review,

consideration is given to the removal of extinguished risks or

inclusion of new risks in the database and any necessary

changes to the priority or scale of each risk.

TIDC’s risk processes, including those risks ranked as

highest priority, are reported to the relevant Project Control

Group, the Board and the Board Finance & Audit

Committee.

TIDC uses the Treasury Managed Fund for its non-

construction insurance purposes. A principal controlled

insurance program is in place to provide Material Damage

and Third Party Liability cover for major construction

contracts on the Epping to Chatswood Rail Line,

Parramatta Transport Interchange and Chatswood

Transport Interchange. Insurances for TIDC’s other

projects are covered by the respective eventual asset

owners. TIDC has maintained adequate insurance

coverage for the reporting period. There have been no

claims against the Material Damage or Third Party Liability

insurance during the reporting period.



37

Freedom of Information

During the reporting year, TIDC received nine new

applications for access to documents under the Freedom

of Information Act 1989 (NSW). Comparatively, in the

2004-2005 year TIDC received 11 new applications.

Of the nine applications received this year, one was

granted in full, three were granted in part, two were

refused, none were withdrawn and four have been carried

forward to the next reporting year.

Compliance with the provisions of the Freedom of

Information Act 1989 (NSW) had no significant impact on the

administration of the Corporation during the reporting period.

No major issues have arisen with Freedom of Information

(FOI) applications and no requests referred to personal

records. The statistical breakdown of FOI requests

received during the reporting year is shown in the

Appendices to this Report.

Requests for TIDC records or documents under the

Freedom of Information Act 1989 (NSW) should be made

in writing and forwarded along with the applicant’s postal

address and the appropriate fee to the following address:

The Freedom of Information Officer

Transport Infrastructure Development Corporation

Locked Bag 6501

St Leonards NSW 2065

Details of procedures, fees and reductions may be

obtained by calling the TIDC FOI Officer during business

hours on (02) 9200 0200.

Business hours are 8:30am-5:30pm Monday to Friday

(excluding public holidays). Members of the public seeking

access to documents are requested to telephone the FOI

Officer before visiting the TIDC office as the documents

may be available on the TIDC website, by mail, free of

charge or for a small fee.


Track laying under way in preparation for the relocation of rail servicesat the Chatswood Transport Interchange.


38A member of the TIDC team liaises with construction workerswhile visiting the Macquarie University Station worksite.


39

TIDC’s skilled and dedicated team continues to deliver

transport infrastructure for a better future for the people of

New South Wales. TIDC in turn recognises the value of

staff and is committed to attracting, developing and

retaining a professional workforce.

During the year a culture survey was commissioned and

found that TIDC has a healthy corporate culture. In

particular, the results identified that staff place great

importance on setting goals and pursuing them with

enthusiasm, have an expectation that they will be

supported and are open and receptive when dealing with

each other.

The survey also provided direction for the further growth

and development of the corporate culture.

As an outcome of the survey, and to encourage the

ongoing development of the culture, TIDC senior

management will participate in 360 degree feedback

sessions in the next reporting period that will culminate in

support networks, coaching and mentoring.

Further, TIDC will continue to focus on working and

engaging directly with staff through inclusion and

leadership to promote a progressive, participative, self

managed workplace culture. This approach is grounded

in the understanding that effectively trained and engaged

employees, fully contributing to the organisation, are

TIDC’s key strength and greatest asset.

Within the next reporting period TIDC will also support

staff in focussing on a reasonable life-work balance,

ensuring that the achievement of corporate deliverables is

not at personal expense and resultant staff burn out. This

approach will aid in attracting and retaining quality staff in

the long term, which is increasingly important as the

labour market continues to tighten.

TIDC’s organisational model is grounded on the principle

of undertaking ongoing or long term core business

activities in-house, and harnessing private industry

expertise by outsourcing those activities that are short

term in nature or require specialist skills or knowledge.

Activities that are outsourced are assessed in terms of

their likely future growth, the effect of their outsourcing on

control of the business and against the potential risk profile.

This approach allows for conservative organisational

growth based on long term business predictions and

avoids unnecessary expansion for short term workload

fluctuations. It also allows TIDC to utilise the specialist

expertise of the private industry and serves to further

expose the local industry to large rail infrastructure projects.

Personnel Plans, Policies and Practices

TIDC continues to maintain a fair workplace with

transparent and consistent human resources

management practices. The Corporation is committed to

reflecting the principles of Equal Employment Opportunity

and operating within the bounds of the relevant legislation

including the Anti-Discrimination Act 1977 (NSW) and the

NSW Occupational Health and Safety Act 2000.

TIDC places a particular emphasis on training and

development and all staff are encouraged to participate in

learning and development activities to expand their

knowledge base. In 2005-2006, TIDC conducted

numerous internal training and development sessions.

In the following year TIDC’s focus will be on recognition of

a job well done, performance feedback and more

manageable workloads. Further, to support succession

planning and provide career paths within the industry,

TIDC is developing a Graduate/Trainee Program.

TIDC has a range of personnel policies that are regularly

reviewed to keep pace with an ever changing

employment and workforce market. The following policies

were in place during the reporting year:

• Employee Code of Conduct;

• Grievance Resolution Procedure;

• Harassment Prevention Policy;

• Equal Employment Opportunity Policy; and

• Alcohol and Other Drugs Policy.

Our People


40

In addition, TIDC developed and implemented the

following new policies during the reporting year:

• Higher Duties Allowance;

• E-mail and Internet Usage Policy;

• Protected Disclosures Policy;

• Training and Development Policy; and

• Study Assistance Policy.

These personnel policies provide a comprehensive

reference tool of TIDC’s position and approach to

operating professionally and valuing people.

Code of Conduct

TIDC believes that acting ethically is central to its public

accountability and the successful achievement of its

corporate objectives. This commitment is reflected in

TIDC’s Employee Code of Conduct, which establishes an

ethical and behavioural framework that helps maintain the

Corporation’s integrity and reputation.

The Employee Code of Conduct is included in TIDC’s

new employee induction. During the year the TIDC

Employee Code of Conduct was reissued to all staff as

a reminder of their responsibilities.

No changes were made to the Employee Code of

Conduct during the year.

The TIDC Board operates within the ‘Conduct Guidelines

for Members of NSW Government Boards and

Committees’ prepared by the NSW Premier’s Department.

Equal Employment Opportunity

TIDC places great emphasis on a workplace free of

discrimination and where all staff have equal access to

training, development, job opportunities and higher duties.

During the reporting period a number of initiatives

and programs were undertaken that supported

Equal Employment Opportunity (EEO) principles and

practices including:

• The development and implementation of TIDC’s first

EEO Plan;

• The establishment of a centralised human resources

(HR) function to provide HR service and advice to

employees;

• Staff briefings for all new employees on

discrimination and harassment prevention;

• The creation of an internal TIDC intranet site,

providing online access to personnel forms, policies

and procedures;

• The review of all existing policies and procedures;

• The development of new policies and provision of

education and training to staff on the new suite of

TIDC policies and procedures;

• The development and implementation of a Training

and Development Policy to ensure that employees

realise their potential to enhance job satisfaction and

foster rewarding career paths; and

• The development and implementation of a Study

Assistance Policy.

In the following year TIDC will continue reviewing and

improving its EEO policies and procedures. This will

encompass:

• Establishing a centralised recruitment process

through HR to ensure transparent procedures;

• Developing and implementing a Workplace Health

Policy giving employees options to assist them in

maintaining a healthy lifestyle; and

• The continuation of organisation-wide forums with

the Chief Executive Officer, encouraging open

communication across all directorates.

Our People continued


41

EEO Statistics

Trends in the Representation of EEO Groups1


% of total staff 2

EEO group Benchmark or target 2006 2005

Women 50% 35% 43%

Aboriginal people and Torres Strait Islanders 2% n/a n/a

People whose first language was not English 19% 8% 13%

People with a disability 12% 10% 7%

People with a disability requiring work-related adjustment 7% 1% n/a

Notes: 1. Based on staff numbers at 30 June 2006. 2. Excludes casual staff.

TIDC staff liaising with stakeholders at a community breakfast tomark there-opening of the Lane Cove National Park site.

Ethnic Affairs Priorities Statement

TIDC adheres to the principles of multiculturalism

and acknowledges the different needs of a culturally

diverse society.

During project development stages, TIDC identifies the

cultural and linguistic characteristics of the project area

and where appropriate provides interpreter services for

community notifications.

TIDC encourages community participation through

consultation processes, meetings and open forums and

adopts a Plain English approach when liaising with the

public to maximise communication and facilitate

comprehension.

During the next year, TIDC will ensure that Ethnic Affairs

Priorities Statement principles are embedded, as

appropriate, within communication plans and corporate

planning processes.

Occupational Health and Safety

TIDC is committed to providing a safe and healthy

working environment for all employees. In line with this

commitment, TIDC has in place a Safety Management

Plan that complies with the requirements of the NSW

Government Occupational Health Safety Management

Systems Guidelines and the Australian Standard for Rail

Safety Management.

Significant effort is invested in cultivating a safety culture

at every level of the Corporation with staff encouraged

to participate in every opportunity for improvement in

the workplace.

During the year, the Staff Consultative Committee regularly

undertook internal safety inspections and reported issues

to management for consideration and actioning.

To further foster staff involvement with Occupational

Health and Safety (OHS), members of the Staff

Consultative Committee attended a four day training

course. This training covered a range of topics including

undertaking workplace inspections, safety consultation

and management, duty of care considerations and

legislative requirements.

To monitor safety performance, TIDC keeps safety

statistics for its staff and also collates safety statistics

across all of its projects. OHS compliance is included in

the scope of audits conducted on TIDC’s major

contractors and specific safety audits are also conducted.

The Occupational Health and Safety statistics for the

TIDC office and for TIDC’s projects are shown in the

Appendices to this Report.


42



43

Waste Reduction and Purchasing Policy

TIDC is committed to minimising waste generation as

an essential contribution toward the preservation and

maintenance of a healthy and ecologically

sustainable environment.

TIDC’s framework and performance for waste reduction is

detailed in its Waste Reduction and Purchasing Policy

(WRAPP) Plan, which will be submitted to the Department

of Environment and Conservation during the 2006-2007

reporting period.

In accordance with WRAPP principles, TIDC is committed

to the reduction of waste in four scheduled areas:

• Paper products;

• Office equipment and components;

• Vegetation material; and

• Construction and demolition material.

This commitment drives TIDC’s purchasing and recycling

program. Strategies to achieve a more efficient use of

resources, a reduction in waste generation and an

increase in purchases of recycled content products include:

• Prioritisation of purchasing materials with recycled

content where these items are cost and

performance competitive;

• Inclusion of contract specifications requiring the

supply of recycled content products, where

appropriate;

• Purchasing of recycled stationery including 100%

recycled paper, duplex printing and photocopying

where practicable;

• Provision of facilities in TIDC’s office for recycling

paper, toner cartridges and other recyclable

materials; and

• Producing the majority of large reports electronically

wherever possible, to limit the amount of paper usage

in printing large quantities of hard-copy documents.

In the next year, TIDC will continue to seek further means

of reducing waste and encouraging the purchase of

recycled content materials wherever practicable and

where cost and performance competitive.

Energy Management Policy

TIDC continues its commitment to reducing greenhouse

gas emissions and achieving energy cost savings

where possible, without adversely affecting its ongoing

core business activities.

The TIDC Energy Management Policy sets out the

processes in place for energy management of TIDC office

facilities. This includes procedures to manage energy and

to collect and report on consumption and use data.

In implementing this Policy, TIDC strives to:

• Minimise energy consumption in the workplace;

• Purchase energy efficient office equipment and

white goods;

• Monitor and report on energy usage on a monthly

basis; and

• Report our achievements and challenges.

During the reporting period, TIDC’s use of electricity

included 8% from non coal-derived green power.

Additionally, in fitting out new office space, white goods

and computer equipment were purchased with high

energy-saving ratings.

Delivery of Electronic Services

TIDC recognises that the internet is an increasingly

important source of information for members of the

community. In line with this, TIDC aims to ensure its

website is a useful, interactive information source that

provides accurate and up-to-date information on the

Corporation and its projects.

During the reporting year, TIDC took steps to review and

modify its website to further improve functionality and to

accommodate information on new projects.

TIDC will continue to regularly update the information on

its website and seek to find new avenues for electronically

connecting with stakeholders and the community.

In particular, in the next reporting period TIDC intends

to upgrade the tender section of the website to house

more detailed information on tenders called and those

recently awarded.

Organisational Services and Support


44

Promotion

TIDC seeks to actively inform and engage the local

communities in which it operates.

Information about TIDC’s projects is available through a

number of mediums including the TIDC website, on-site

signage, printed materials for the community, minutes of

community liaison group meetings and advertisements in

relevant local newspapers.

Publications produced during the reporting period include:

Epping to Chatswood Rail Line

• Epping to Chatswood Rail Line – Project Update

(Newsletter)

• Epping to Chatswood Rail Line – Construction

Update (Factsheet)

• Epping to Chatswood Rail Line – Operational Noise

Update (Factsheet)

• Epping to Chatswood Rail Line – Track Design

Update (Factsheet)

• Lane Cove Landscape & Rehabilitation Concept

Plan (Brochure and comment form)

Parramatta Transport Interchange

• Parramatta Transport Interchange – A guide for

commuters (Brochure)


• Cronulla Line Upgrading and Duplication Project -

REF (REF documentation)

• Cronulla Line Upgrading and Duplication Project

(Exhibition brochure)

• Homebush Turnback Project - REF

(REF documentation)

• Homebush Turnback Project (Exhibition brochure)

• Hornsby Station Platform 5 & Stabling Project - REF

(REF documentation)

• Hornsby Station Platform 5 & Stabling Project

(Exhibition brochure)

• Hornsby Station Platform 5 & Stabling Project -

Project Update (Newsletter)

• Lidcombe Turnback Project - REF

(REF documentation)

• Lidcombe Turnback Project (Exhibition brochure)

• Macdonaldtown Stabling Project - REF

(REF documentation)

• Macdonaldtown Stabling Project (Exhibition brochure)

• Macdonaldtown Stabling Project – Project Update

(Newsletter)

• Revesby Turnback Project - REF

(REF documentation)

• Revesby Turnback Project (Exhibition brochure)


• North Sydney Station Upgrade - REF

(REF documentation)

• North Sydney Station Upgrade (Exhibition brochure)


• North West Rail Link – Planning Update (Newsletter)

• South West Rail Link – Planning Update (Newsletter)

Corporate

• TIDC 2004-2005 Annual Report (Report)

Consumer Response

TIDC remains committed to providing courteous and

prompt assistance to stakeholders and members of

the public.

In order to provide a direct point of contact, TIDC

maintains a free call ‘Project Information Line’ as a key

mechanism for the community to obtain information

about the Corporation or its projects.

TIDC also maintains a free call ‘24 Hour Construction

Response Line’ and aims to respond within two hours to

any urgent enquiries or complaints regarding construction

associated with its projects.

During the reporting period, TIDC responded to

1,769 enquiries through the Project Information Line and

251 complaints through the 24 Hour Construction

Response Line.

The majority of complaints were associated with

construction related noise impacts and construction

related property damage claims. All complaints were

investigated and responded to in an appropriate manner.

Organisational Services and Support continued


45

Guarantee of Service

TIDC’s guarantee of service aims to respond to the needs

of stakeholders and the community efficiently, promptly,

courteously and fairly. In dealing with stakeholders and

the community, TIDC staff will strive to:

• Identify themselves in all verbal and written

communications;

• Return phone calls as quickly as possible;

• Respond to requests for information as quickly as

possible; and

• Respond to all complaints received in a timely and

courteous manner.

Organisational Services and Support continued

Glass was extensively used in the redevelopment of the ParramattaTransport Interchange, providing an inviting, modern environment thatmaximises natural lighting.


46

The attached financial report has been prepared for

the financial year ended 30 June 2006. It comprises

the following:

• Directors’ Declaration;

• Income Statement;

• Balance Sheet;

• Statement of Changes in Equity;

• Cash Flow Statement;

• Notes to the financial statements; and

• Independent Audit Report.

Financial Statements

Lengths of track are flash-butt welded together as part of the track layingfor the Epping to Chatswood Rail Line.


47

In accordance with a resolution of the Board of Transport Infrastructure Development Corporation and pursuant to Section

41C(1B) of the Public Finance and Audit Act 1983 and clause 11 of the Public Finance and Audit Regulation 2005, we

state that:

1. The attached general purpose financial report presents a true and fair view of the financial position of the

Corporation as at 30 June 2006, the financial results of its operations and the cash flows of the Corporation for

the year then ended;

2. The financial report has been prepared in accordance with the provisions of the Public Finance and Audit Act

1983 and the Public Finance and Audit Regulation 2005;

3. The financial report has been prepared in accordance with applicable Australian Accounting Standards and other

mandatory professional reporting requirements;

4. We are not aware of any circumstances which would render any particulars included in the financial report to be

misleading or inaccurate; and

5. There are reasonable grounds to believe that the Corporation will be able to pay its debts as and when they

become due and payable.

Signed in accordance with a resolution of the Board.

Sydney, 10 October 2006

Directors’ Declaration For the year ended 30 June 2006

Chris Lock

Director

Ron Finlay

Chairman


48

TRANSPORT INFRASTRUCTURE DEVELOPMENT CORPORATION

Income Statement For the year ended 30 June 2006

Year Ended Year EndedNote 30-June-06 30-June-05

$000 $000

Revenue 2 293,509 154,006

Expenses 2 (80,808) (35,905)

Profit before income tax expense 212,701 118,101

Income tax expense 1(n) - -

Profit for the year attributable to owners 212,701 118,101

The above Income Statement should be read in conjunction with the accompanying notes.


49


Balance SheetAs at 30 June 2006

As at As atNote 30-June-06 30-June-05

$000 $000

ASSETS

Current Assets

Cash and cash equivalents 3 70,090 7,188

Trade and other receivables 4 27,814 12,577

Non-current assets classified as held for sale 5 9,216 9,685

Total Current Assets 107,120 29,450

Non-Current Assets

Property, plant and equipment 6 1,523,084 1,169,267

Total Non-current Assets 1,523,084 1,169,267

Total Assets 1,630,204 1,198,717

LIABILITIES

Current Liabilities

Trade and other payables 7 138,874 89,883

Short-term borrowings 8 186,916 99,954

Current portion of long-term borrowings 8 - 23,807

Short-term provisions 9 1,001 740

Total Current Liabilities 326,791 214,384

Non-Current Liabilities

Long-term borrowings 8 720,707 434,727

Long-term provisions 10 174 97

Other non-current liabilities 11,15 66 83

Total Non-Current Liabilities 720,947 434,907

Total Liabilities 1,047,738 649,291

Net Assets 582,466 549,426

EQUITY

Capital 12(a) 135,257 327,461

Reserves 12(b) 12,543 -

Retained earnings 12(c) 434,666 221,965

Total Equity 582,466 549,426

The above Balance Sheet should be read in conjunction with the accompanying notes.


50


Statement of Changes in EquityFor the year ended 30 June 2006


$000 $000

Profit for the year 212,701 118,101

Net income recognised directly in Equity -

Gain/(loss) on revaluation of land and buildings 12(b) 12,543 -

Total recognised income and expense for the year 225,244 118,101

Total Equity at the beginning of the year 549,426 650,120

Transactions with equity holders in their capacity as equity holders -

Contributions of equity 12(a) (192,204) (218,795)

Total Equity at the end of the year 582,466 549,426

The above Statement of Changes in Equity should be read in conjunction with the accompanying notes.


51


Cash Flow Statement For the year ended 30 June 2006

Inflows/ Inflows/(Outflows) Outflows)


$000 $000

Cash Flows from Operating ActivitiesGovernment grants received 201,137 107,117Payments to suppliers and employees (103,970) (69,121)Receipts from customers 119,656 72,235Interest income received 790 1,049

Net cash flows from operating activities 21(a) 217,613 111,280

Cash Flows from Investing ActivitiesPayment for capital work-in-progress (477,530) (321,514)Proceeds from sale of assets 7,500 -

Net cash flows used in investing activities (470,030) (321,514)

Cash Flows from Financing ActivitiesProceeds from borrowings 315,319 197,259Proceeds from financial assets - 7,321

Net cash flows from financing activities 315,319 204,580

Net Increase/(Decrease) in Cash and Cash Equivalents 62,902 (5,654)

Cash and Cash Equivalents at the Beginning of the Year 7,188 12,842

Cash and Cash Equivalents at the End of the Year 3 70,090 7,188

The above Cash Flow Statement should be read in conjunction with the accompanying notes.


52


Notes to the Financial Statements For the Financial year ended 30 June 2006

1. SIGNIFICANT ACCOUNTING POLICIES

The following significant policies have been adopted in the preparation of the financial statements:

(a) Reporting Entity

Transport Infrastructure Development Corporation (TIDC) was established on 1 January 2004 as a statutory StateOwned Corporation by the Transport Administration Act 1988 to deliver major transport infrastructure projects for theGovernment as directed by the portfolio Minister.

As at 30 June 2006, projects being delivered by TIDC are:

i Epping to Chatswood Rail Line (including the Parramatta Transport Interchange) – Minister’s Directiondated 1 January 2004

ii North Sydney Station Upgrade, Concept Design and Planning Approval Process – Minister’sDirection dated 21 October 2004

iii 2008 Rail Clearways Program – Minister’s Direction dated 21 October 2004

iv 2010 Rail Clearways Program – Minister’s Direction (conditional) dated 21 October 2004 andsubsequent approval by the Budget Committee of Cabinet on 14 December 2005

v Metropolitan Rail Expansion Program Preparatory Work – Minister’s Direction dated 22 May 2006

vi Southern Sydney Freight Line Alignment Study - Minister’s Direction dated 20 June 2006

The Feasibility Study, Proposed Broadmeadow Transport Interchange was completed in 2004/05.

TIDC is a not-for-profit entity as its principal objective is not the generation of profit.

TIDC’s capital comprises two (2) fully paid $1.00 ordinary shares issued to the Premier and the Minister for Finance.

The financial report was authorised for issue by the TIDC Board on the date on which the accompanying Directors’Declaration was signed.

(b) Basis of Accounting

This financial report is a general purpose financial report which has been prepared in accordance with AustralianAccounting Standards, Urgent Issues Group Interpretations, the Public Finance and Audit Act 1983, the Public Financeand Audit Regulation 2005 and specific directions issued by the Treasurer.

The financial report has been prepared on an accrual accounting basis using historical cost conventions. Except wherestated, it does not take into account changing money values or current valuations of non-current assets. Cost is basedon the fair values of the consideration given in exchange for assets.

Accounting policies are selected and applied in a manner which ensures that the resulting financial information satisfiesthe concepts of relevance and reliability, thereby ensuring that the substance of the underlying transactions or otherevents is reported.


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Notes to the Financial Statements (continued)

For the Financial year ended 30 June 2006

The following significant accounting policies have been adopted in the preparation and presentation of the financial report:

(c) Recognition of Revenue

Total revenue from continuing operations comprise:

(i) Government GrantsConsolidated funds received and disclosed as Government Grants are recognised as revenue on a cash basis. TIDC receives Consolidated funds for the delivery of the Epping to Chatswood Rail Line (ECRL) project only.

(ii) Third Party Contributions Third party contributions are monies received from stakeholders to build transport infrastructures being delivered by TIDC.

(iii) Interest Income Interest income is recognised on an accrual basis using the interest applicable to the financial asset.

(iv) Other IncomeOther income includes the recovery of the full cost of delivery of projects other than the ECRL projectfrom the respective eventual asset owners.

Other income also includes profit on sale of properties surplus to construction activities.

(d) Cash and Cash Equivalents

Cash comprises cash on hand and credit funds held at call with the Corporation’s banker. Cash equivalents includemoney market investments readily convertible to cash within two working days.

Deposits at call with the NSW Treasury Corporation Hourglass facility are recognised in the accounts at their principalamount which is considered to be their fair value due to the short-term nature of these funds. Interest is recognised inthe Income Statement as it accrues.

(e) Trade and Other Receivables

Trade and other receivables are recorded at amounts due less any allowance for doubtful debts.

(f) Non-Current Assets Classified as Held for Sale

Non-current assets classified as held for sale comprise the hotel site at Parramatta and hotel and gaming licences andpermits held as part of the proposed sale of the hotel site in 2006/07. These assets have been valued at the lower ofcost and net fair value.

(g) Property Plant and Equipment

(i) Construction Work in Progress

All TIDC expenditure (both direct and indirect), other than properties surplus to construction activities, relating tothe ECRL project is capitalised as construction work in progress at cost. The remaining TIDC expenditures (bothdirect and indirect) relating to other projects are expensed when incurred and recovered from the respectiveeventual asset owners on a full cost recovery basis.

All TIDC indirect costs are apportioned between projects being delivered at the time based on their estimated costs to completion.


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Properties acquired for construction activities have been treated as construction work in progress and recorded at cost.

Construction work in progress also includes capitalised borrowing costs related to the funding of the ECRL project.

(ii) Land and Buildings

Properties surplus to construction activities have been treated as TIDC corporate assets and re-classified as Landand Buildings during 2005/06. Land and Buildings are stated at fair value by reference to external marketvaluations at least every three years. When a revaluation increases the carrying value of a property, the increase iscredited directly to the Asset Revaluation Reserve for that class of asset. Buildings acquired to date were incidentalto construction activities and will not be depreciated as they are held for sale at the completion of the project.

(h) Trade and Other Payables

Trade payables and other payables are recognised when TIDC becomes obliged to make future payments resultingfrom the purchase of goods and services.

(i) Borrowings

TIDC has approval under the Public Authorities (Financial Arrangements) Act 1987 to borrow funds to meet projectexpenditure for the ECRL project. As at 30 June 2006, borrowings for the other projects were not the responsibility of TIDC.

In accordance with Treasury directions, all loans are valued at Current Capital Value. Borrowing costs incurred for thepurpose of construction of qualifying assets are capitalised.

(j) Discounts and Premiums on Loans

Discounts and premiums on loans are netted against the appropriate interest bearing liabilities.

(k) Employee Entitlements

Provision is made for benefits accruing to employees in respect of wages and salaries, annual leave and long serviceleave. A liability is recognised when an employee has provided service in exchange for employee benefits to be paid inthe future and these benefits are capable of being measured reliably.

Provisions made in respect of wages and salaries and annual leave expected to be settled within 12 months weremeasured at the remuneration rates the Corporation expected to pay as at the reporting date.

Provisions made in respect of long service leave which were not expected to be settled within 12 months weremeasured as the present value of the estimated future cash outflows to be made by the Corporation in respect ofservices provided by employees up to the reporting date.

In accordance with Australian Equivalents to International Financial Reporting Standards, all annual leave andunconditional long service leave are classified as current liabilities in the Balance Sheet because TIDC does not havean unconditional right to defer settlement. Only conditional long service leave is shown as a non-current liability.

(l) Other Non-Current Liabilities

Other non-current liabilities are represented by accrued superannuation liabilities in various superannuation schemes.Refer notes 11 and 15.


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(m) Goods and Services Tax (GST)

Revenue, expenses and assets are recognised net of the amount of GST, except:

(i) the amount of GST incurred that is not recoverable from the ATO is recognised as part of the cost of acquisitionof an asset or as part of an item of expense.

(ii) receivables and payables are stated with the amount of GST included.

The net amount of GST recoverable from, or payable to, the ATO is included as part of Receivables or Payables in theBalance Sheet. Cash flows are included in the Cash Flow Statement on a gross basis. The GST components of cashflows arising from investing and financing activities which are recoverable from, or payable to, the ATO are classified asoperating cash flows.

(n) Income Tax

TIDC has received an exemption from the Treasurer from liability for income tax equivalent under section 20T of theState Owned Corporations Act 1989.

(o) Dividend

TIDC is not required to pay dividends under section 20S of the State Owned Corporations Act 1989.

(p) Going Concern Basis

The financial report has been prepared on a going concern basis which assumes that the Corporation is expected tobe able to pay its debts as and when they fall due and continue in operation without any intention or necessity toliquidate or otherwise wind up its operations.

RailCorp, under the authority of the RailCorp Board, has provided an undertaking that at completion of the Epping toChatswood Rail Line project, RailCorp will acquire the project from TIDC and also assume or otherwise procure thedischarge of the borrowing liabilities including capitalised interest carried by TIDC in respect of the project.

The Treasurer has confirmed under Section 22A of the Public Authorities (Financial Arrangements) Act 1987 aStatutory Guarantee for TIDC. Under this guarantee, the State of New South Wales guarantees all financialaccommodation obligations of TIDC with the New South Wales Treasury Corporation.

(q) Comparative Figures

Unless otherwise stated, comparative figures have been reclassified this year to incorporate changes required by newor revised accounting standards, and/or to provide a meaningful comparison with the current year amounts.

(r) Rounding

All amounts have been rounded to the nearest thousand dollars unless indicated otherwise and are expressed inAustralian currency.


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(s) Adoption of Australian Equivalents to International Financial Reporting Standards

Australian Equivalents to International Financial Reporting Standards (AEIFRS) have been adopted from 1 July 2005.This is the first financial report prepared under the new standards. Generally, the accounting policies have beenapplied consistently to all financial years presented and comparative figures for 2004/05 have been adjusted wherenecessary to conform with the requirements of AEIFRS.

To ensure consistency at the whole of government level, NSW Treasury has advised agencies of mandated options forthe NSW Public Sector. The impacts disclosed below reflect Treasury’s mandates issued to date.

AASB 119 “Employee Benefits” requires the defined benefit obligation to be discounted using the government bondrate as at each reporting date rather than the long-term expected rate of return on Plan assets. Since TIDC’sunfunded superannuation liability has not been assumed by the Crown, increases in the amount and the futurevolatility of the unfunded liability and the volatility of the employee benefit expense will occur.

AASB 123 “Borrowing Costs” provides the option to expense or capitalise borrowing costs. NSW Treasury’s mandateallows all Public Trading Enterprises (PTE’s) to either expense or capitalise borrowing costs directly attributable to aqualifying asset. TIDC has elected to capitalise borrowing costs directly attributable to the ECRL project.

Any impacts on first-time adoption of the above Standards are discussed as part of the AEIFRS first-time adoptionnote (refer Note 24(a)).

The following Australian Accounting Standards that have recently been issued or amended (but are not yet effective)have not been adopted for the reporting period ending 30 June 2006:

Affected Standard(s) Application date*

AASB Amendments:

2005-1 AASB 139 Financial Instruments: 1 January 2006Recognition and Measurement

2005-5 AASB 1 First-time Adoption of AEIFRS 1 January 2006

AASB 139 Financial Instruments: Recognition and Measurement

2005-10 AASB 132 Financial Instruments: 1 January 2007Disclosure and Presentation

AASB 101 Presentation of Financial Statements

AASB 114 Segment Reporting

AASB 117 Leases

AASB 133 Earnings per Share

AASB 139 Financial Instruments: Recognition and Measurement

AASB 1 First-time Adoption of AEIFRS

AASB 4 Insurance Contracts

AASB 1023 General Insurance Contracts

AASB 1038 Life Insurance Contracts

AASB New Standard:

AASB 7 AASB 7 Financial Instruments: Disclosures 1 January 2007

* Application date is the reporting period beginning on or after the dates shown above.

When adopted, the impact of these standards on TIDC’s financial position, profit for the year and cash flows will not be material.


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(t) Statement of Compliance

The financial report complies with the Australian Accounting Standards, which include the Australian Equivalents toInternational Financial Reporting Standards (AEIFRS).

In accordance with AASB 1 First-time Adoption of the Australian Equivalents to International Financial ReportingStandards and Treasury Mandates, the date of transition to AASB 132 Financial Instruments: Disclosure andPresentation and AASB 139 Financial Instruments: Recognition and Measurement was deferred to 1 July 2005. As aresult, comparative information for these two Standards is presented under the previous Australian AccountingStandards which applied to the year ended 30 June 2005. The basis used to prepare the 2004/05 comparativeinformation for financial instruments under previous Australian Accounting Standards is discussed in Note 1(u) below.

Reconciliations of AEIFRS equity and surplus or deficit for 30 June 2005 to the balances reported in the previousAGAAP 2004/05 financial report are detailed in Note 24(a). There were no equity adjustments required arising from theadoption of AASB 132 and AASB 139.

(u) Financial Instruments Accounting Policy for 2004/05 Comparatives

i. Investments – Surplus funds are held in the TCorp Hourglass Cash Facility. The assets are managed andtheir performance is evaluated on a fair value basis. Movements in the Facility are disclosed as part ofRevenue in the Income Statement.

ii. Borrowings – Borrowings from TCorp are measured on a fair value basis and are included in theaccounts at Current Capital Value.


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Year Ended Year Ended30-June-06 30-June-05

$000 $000

2. Profit before income tax expenseProfit before income tax expense includes the following items of revenue and expenses:

(a) Revenue from continuing operations comprise:Government Grants - ECRL 201,137 107,117Third party contributions - ECRL 9,197 8,851Interest income - ECRL 790 1,051Other income - ECRL 1,647 1,082Other income – Clearways program 70,359 34,258Other income - North Sydney Station upgrade concept design & planning approval 4,504 1,462Other income – Broadmeadow study - 185Other income – Metropolitan Rail Expansion Program preparatory work 5,625 -Other income – Southern Sydney Freight Line alignment study 250 -

293,509 154,006

(b) Expenses from continuing operations comprise:Loss on sale of land - ECRL 2,185 -Project expenditure - Clearways program 70,359 34,258Project expenditure - North Sydney Station upgrade concept design & planning approval 4,504 1,462Project expenditure - Broadmeadow study - 185Project expenditure - Metropolitan Rail Expansion Program preparatory work 3,664 -Project expenditure - Southern Sydney Freight Line alignment study 96 -

80,808 35,905

As at As at30-June-06 30-June-05

$000 $000

3. Cash and cash equivalentsCash at bank and in hand 1,033 1,115NSW Treasury Corporation - Hourglass facility at market value 69,057 6,073

70,090 7,188

4. Trade and other receivablesTrade Receivable - 752Net GST receivable from ATO 13,944 11,301Other Receivables – Government 13,531 518Other Receivables – Other 339 6

27,814 12,577


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$000 $000

5. Non-current assets classified as held for saleNon-current assets held for sale as at 1 July 2005 9,685 -Transfer from land & buildings “held for sale” 9,216 9,685Sale of land (9,685) -

Non-current assets held for sale as at 30 June 2006 9,216 9,685

6. Property, plant and equipmentConstruction work-in-progress - ECRL project expenditure - at cost 1,362,930 1,051,555Construction work-in-progress - ECRL capitalised interest - at cost 76,533 37,418

Total construction work-in-progress - at cost 1,439,463 1,088,973Land and buildings - at fair value 83,621 80,294

1,523,084 1,169,267

Land and buildings as at 30 June 2006 are stated at Directors’ valuation based on valuations by an internal qualified valuer withreference to independent valuations conducted in September 2006 by Knight Frank and Laing & Simmons.

Movements in construction work-in-progress:Construction work-in-progress as at 1 July 2005 1,088,973 713,875Transfer to other rail agencies (192,224) -Additions to ECRL project expenditure 503,599 351,649Additions to ECRL capitalised interest 39,115 23,449

Construction work-in-progress as at 30 June 2006 1,439,463 1,088,973

Transfer to other rail agencies represents the transfer of Parramatta Transport Interchange to RailCorp.

Movements in land and buildings:Land and buildings as at 1 July 2005 80,294 89,979Transfer to current assets “held for sale” (9,216) (9,685)Revaluation of land 12,543 -

Land and buildings as at 30 June 2006 83,621 80,294

7. Trade and other payablesTrade creditors and accruals 138,740 88,809PAYG tax payable - 2Payroll tax payable 55 38Amounts payable to NSW Government Agencies - 1,000Other amounts payable 79 34

138,874 89,883


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$000 $000

8. Borrowings(a) Short-term borrowings:

Loans 186,916 99,954

(b) Long-term borrowings:

Loans – current portion - 23,807Loans – non-current portion 720,707 434,727

720,707 458,534

Total borrowings 907,623 558,488

All borrowings are guaranteed by the NSW Government.

(c) Maturity profile

Not later than one year 186,916 123,761Later than one year but not later than two years 146,563 -Later than two years but not later than five years 141,478 94,298Later than five years 432,666 340,429

907,623 558,488

(d) Financing ArrangementsUnrestricted access to the following Credit Standby Arrangement was available at balance date:

As at 30 June 2006 As at 30 June 2005

Total Used Unused Total Used UnusedFacilities Facilities$’000 $’000 $’000 $’000 $’000 $’000

Come & Go Facility - TCorp 50,000 - 50,000 50,000 - 50,000

Total 50,000 - 50,000 50,000 - 50,000

9. Short-term provisionsEmployee entitlements - annual leave 722 483Employee entitlements - long service leave 279 257

1,001 740

10. Long-term provisionsEmployee entitlements - long service leave 174 97

On the basis of past payment experience, annual leave and long service leave balances as at 30 June 2006 areexpected to be settled in the following pattern:

Within Later than12 months 12 months Total

$000 $000 $000Annual leave 449 273 722Long service leave - 453 453

449 726 1,175


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$000 $000

11. Other non-current liabilitiesAccrued superannuation liabilities (see also Note 15) 66 83

12. Equity(a) CapitalCapital as at 1 July 2005 327,461 546,256Share capital – two issued ordinary shares of $1ea fully paid - -Transfer of Parramatta Transport Interchange to RailCorp (192,224) -Adjustment to the value of assets and liabilities vested from Rail Infrastructure Corporation 20 (218,795)

Capital as at 30 June 2006 135,257 327,461

(b) ReservesAsset revaluation reserve as at 1 July 2005 - -Gain/(loss) on revaluation for the year 12,543 -

Asset revaluation reserve as at 30 June 2006 12,543 -

(c) Retained earningsRetained earnings as at 1 July 2005 221,965 103,864Profit for the year 212,701 118,101

Retained earnings as at 30 June 2006 434,666 221,965

13. Commitments(a) Capital Expenditure Commitments:

Not longer than 1 year 359,545 400,256Longer than 1 year and not longer than 5 years 211,616 252,579

571,161 652,835

GST Input Tax Credits included above 51,924 59,349

(b) Operating Expenditure Commitments:Not longer than 1 year 243,063 108,448Longer than 1 year and not longer than 5 years 981,020 405,338

1,224,083 513,786

GST Input Tax Credits included above 111,280 46,708

(c) Operating Lease Commitments:Not longer than 1 year 997 889Longer than 1 year and not longer than 5 years 935 1,000

1,932 1,889

GST Input Tax Credits included above 176 172


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Operating leases relate to:

• A lease for Head Office accommodation on Level 7, Tower A, Zenith Centre in Chatswood. The lease is for 4years, commencing on 12 July 2004, with an annual rental escalation fixed at 4% p.a.

• A lease for Head Office accommodation on Level 1, Tower A, Zenith Centre in Chatswood. The lease is for 3years, commencing on 1 October 2005, with an annual rental escalation fixed at 4% p.a.

• Various other leases of small office accommodation with varying lease periods and rental escalation.

• Various leases of photocopiers and other electronic office equipment. The photocopier and other leases areover varying periods from 18 months to 3 years and have no review point. TIDC does not have an option topurchase the leased assets at the expiry of the leases.

In accordance with AASB117, the leasehold rental expenses on all of the above leases have been converted on a straight-line basis over the relevant years of the leases.

14. Contingent Liabilities and Contingent Assets

In the ordinary course of business, contract disputes have been notified to TIDC in relation to the construction of theEpping to Chatswood rail line. As the outcomes of these disputes remain uncertain, it is not practicable to estimate anypotential financial effect from these disputes.

Apart from the contract disputes mentioned above, TIDC does not have any contingent liability or contingent asset thatwould significantly impact on the state of affairs of TIDC or have a material effect on these financial statements.

15. Superannuation - Retirement Benefits and Reserves

The Corporation’s superannuation liabilities as at 30 June 2006 as employer of members of the State AuthoritiesSuperannuation Scheme (SASS) and the State Authorities Non-Contributory Superannuation Scheme (SANCS) formingpart of the Pooled Fund have been assessed by the Fund’s actuary. Details of the actuary’s assessments disclosed beloware in accordance with AASB119 unless otherwise stated.

SASS SANCS Total$000 $000 $000

As at 30 June 2006Reconciliation of assets and liabilities:Present value of defined benefit obligations (152) (20) (172)Fair value of plan assets 98 8 106

Net asset/(liability) (54) (12) (66)

Movement in net asset/(liability):Net asset/(liability) at start of year (66) (17) (83)Net income/(expense) for the year 5 3 8Contributions 7 2 9

Net asset/(liability) at end of year (54) (12) (66)


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SASS SANCS Total$000 $000 $000

As at 30 June 2005Reconciliation of assets and liabilities:Present value of defined benefit obligations (358) (72) (430)Fair value of plan assets 292 55 347

Net asset/(liability) (66) (17) (83)

Movement in net asset/(liability):Net asset/(liability) at start of year 50 14 64Net income/(expense) for the year (130) (35) (165)Contributions 14 4 18

Net asset/(liability) at end of year (66) (17) (83)

All Fund assets are invested by STC at arm’s length through independent fund managers. Actuarial gains and losses arerecognised in the Income Statement in the year they occur. The recommended contribution rates for the entity are amultiple of 1.90 of member contributions for SASS and 2.50% of member salary for SANCS.

As at 30 June 2006Total losses/(gain) recognised in income statement:Current service cost 15 4 19Interest on obligation 20 3 23Expected return on plan assets (21) (4) (25)Net actuarial losses/(gains) recognised in year (19) (6) (25)Change in surplus in excess of recovery - - -

Total losses/(gains) (5) (3) (8)

Actual return on plan assets 21 2 23

Financial position of the Fund calculated in accordance with AAS25:Accrued benefits 147 19 166Net market value of Fund assets (98) (8) (106)

Net deficit/(surplus) 49 11 60

As at 30 June 2005Total losses/(gain) recognised in income statement:Current service cost 7 1 8Interest on obligation 7 1 8Expected return on plan assets (15) (3) (18)Net actuarial losses/(gains) recognised in year 180 50 230Change in surplus in excess of recovery (49) (14) (63)

Total losses/(gains) 130 35 165

Actual return on plan assets 31 7 38

Financial position of the Fund calculated in accordance with AAS25:Accrued benefits 337 67 404Net market value of Fund assets (292) (55) (347)

Net deficit/(surplus) 45 12 57


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The calculations of the SASS and SANCS liabilities above are based on the requirements of AASB119. The economicassumptions adopted for the actuarial reviews of the Fund were:

2007/08 &2004/05 2005/06 2006/07 thereafter

Rate of return on Fund assets 7.0% pa 7.3% pa 7.3% pa 7.3% paRate of salary increase 4.0% pa 4.0% pa 4.0% pa 4.0% paRate of CPI increase 2.5% pa 2.5% pa 2.5% pa 2.5% pa

16. Remuneration of Directors

The following persons were Board Directors during the entire financial year unless indicated otherwise:

Non-Executive Directors:R A Finlay Non-executive ChairmanS M Holliday Non-executive DirectorJ S Barraclough Non-executive Director

Executive Directors:V J Graham Chief Executive Officer of RailCorpC D Lock Chief Executive Officer of TIDC

Only non-executive directors received remuneration for the services as a board director from the Corporation. During theyear to 30 June 2006, total remuneration paid to non-executive directors amounted to $164,142 ($129,419 in 2005).

17. Auditors’ Remuneration

Amounts received or due and receivable by the auditors for auditing the financial report totalled $61,500 ($58,500 in 2005).

18. Economic Dependency

TIDC was established on 1 January 2004 as a statutory State Owned Corporation by the Transport Administration Act 1988. TIDC relies substantially on State Government funding.

19. Segment Information

TIDC operates predominantly in the transport infrastructure development industry. The actual construction work will becontracted out to private construction companies or consortia although the management of the various interfaces willremain with the Corporation. TIDC’s operations are conducted in Sydney, Australia. TIDC’s principle office address isLevel 7, Tower A, 821 Pacific Highway, Chatswood.


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20. Post Balance Date Events

A Deed of Release and Amendment was executed on 25 August 2006 to settle contract disputes that existed at balancedate with one of TIDC’s major contractors. Components of the settlement amount relating to work performed prior to 30June 2006 have been taken up as a liability in the 2005/06 accounts. The balance of the settlement amount will be treatedthe same way as normal contract payments during 2006/07.

Since balance date, TIDC and RailCorp have reached agreement on a new funding arrangement for the Rail ClearwaysProgram whereby TIDC would borrow funds to meet program expenditures and invoice RailCorp on a monthly basis forexpenditures incurred including borrowing costs. Under this funding arrangement, TIDC will continue to report the receiptsfrom RailCorp as revenue and RailCorp will continue to carry the work-in-progress in RailCorp’s balance sheet. TIDC willuse each month’s receipt from RailCorp to repay the previous month’s borrowing to minimise the borrowing costs toRailCorp. TIDC has obtained approval under the Public Authorities (Financial Arrangements) Act 1987 to borrow funds tomeet Rail Clearways Program expenditures.

There are no other known post balance date events that would impact on the state of affairs of TIDC or have a materialimpact on these statements.

21. Notes to the Cash Flow Statement

(a) Reconciliation of Profit for the year after tax to Net Cash Flows from Operating Activities:

Year Ended Year Ended30-June-06 30-June-05

$000 $000

Profit for the year after tax 212,701 118,101

Add/(subtract) non-cash items:

Loss on sale of land 2,185 -

214,886 118,101

Add/(subtract) changes in assets and liabilities:Receivables relating to operating activities (15,987) (2,899)Payables relating to operating activities 18,522 (4,242)Provisions relating to operating activities 192 320

Net cashflow from operating activities 217,613 111,280

(b) Financing FacilitiesThe Corporation has no bank overdraft facility. PAFA approval to borrow an amount not exceeding $360 million for thefinancial year up to 30 June 2006 and to use the “Come and Go” facility with TCorp for an amount not exceeding $50million was received from Treasury in June 2005. During the reporting period, borrowings totalling $353.8 million wereutilised. The Come and Go facility was fully replenished at 30 June 2006.


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22. Financial Instruments

(a) Significant Accounting PoliciesDetails of significant accounting policies including the criteria for recognition of each class of financial asset andfinancial liability are disclosed in Note 1 to the financial statements.

(b) Interest Rate RiskInterest rate risk is the risk that the value of the financial instrument will fluctuate due to changes in market interestrates. The following table details TIDC’s exposure to interest rate risk as at 30 June 2006:

Average Variable Fixed Non-Interest Interest Interest Interest

Rate Rate Rate Bearing Total% $000 $000 $000 $000

30 June 2006Financial Assets:Cash at bank and in hand 5.63 1,032 - 1 1,033NSW Treasury Corporation Hourglass 5.70 69,057 - - 69,057Trade and other receivables - - - 27,814 27,814

70,089 - 27,815 97,904

Financial Liabilities:Borrowings – TCorp 6.30 907,623 - - 907,623

Trade and other payables - - - 138,874 138,874

907,623 - 138,874 1,046,497

30 June 2005Financial Assets:Cash at bank and in hand 5.32 1,114 - 1 1,115NSW Treasury Corporation Hourglass 5.74 6,073 - - 6,073Trade and other receivables - 752 - 11,825 12,577

7,939 - 11,826 19,765Financial Liabilities:Borrowings – TCorp 6.35 558,488 - - 558,488

Trade and other payables - - - 89,883 89,883

558,488 - 89,883 648,371

(c) Credit RiskCredit risk refers to the risk that counterparty will default on its contractual obligations resulting in financial loss to the Corporation. The Corporation has only a small exposure to credit risk as cash at bank, investments held with theNSW Treasury Corporation and GST receivable from the Australian Taxation Office represented the total financialassets recoverable from counterparties as at 30 June 2006.

(d) Net Fair ValueThe carrying amounts of financial assets and financial liabilities disclosed in the financial statements as at 30 June2006 are stated at their respective net fair values.


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23. Extent and Nature of Financial Instruments

TCorp manages the borrowings of TIDC under a Risk Management Agreement. TCorp on behalf of TIDC enters intointerest rate swaps and exchanges variable and fixed interest rate payment obligations to protect long-term borrowingsfrom the risk of interest rate fluctuations. The swap contracts are settled on a net basis and the net amount receivable orpayable at the reporting date is included in either debtors or creditors.

There was no swap contract in place as at 30 June 2006.

24. Impact of Adopting AEIFRS

TIDC has applied the Australian Equivalents to International Financial Reporting Standards (AEIFRS) from 1 July 2005.The strategy implemented to manage the transition to AEIFRS is shown at Note 1(s).

TIDC’s accounting policies may be affected by a proposed standard to harmonise accounting standards with GovernmentFinance Statistics (GFS). However, the impact is uncertain because it depends on when this standard is finalised.

(a) Reconciliation of key aggregatesReconciliation of Equity under AGAAP to Equity under AEIFRS:

As at As at30-June-05 1-July-04

$000 $000

Total Equity under AGAAP 549,452 650,190Defined benefit superannuation liabilityadjusted for change in discount rate (i) (26) (70)

Total Equity under AEIFRS 549,426 650,120

Reconciliation of Surplus under AGAAP to Surplus under AEIFRS:As At

Note 30-June-05$000

Surplus under AGAAP 118,057Decrease in employee benefit expenses (i) 44

Surplus under AEIFRS 118,101

(i) AASB 119 Employee Benefits requires the defined benefit superannuation obligation to be discounted using thegovernment bond rate as at each reporting date, rather than the long-term expected rate of return on plan assets.Where the superannuation obligation is not assumed by the Crown, this will increase the defined benefitsuperannuation liability (or decrease the asset for those agencies in an overfunded position) and change the quantumof the superannuation expense.

(b) Grant recognition for not-for-profit entitiesTIDC will apply the requirements in AASB 1004 Contributions regarding contributions of assets (including grants) andforgiveness of liabilities. There are no differences in the recognition requirements between the new AASB 1004 and thecurrent AASB 1004. However, the new AASB 1004 may be amended by proposals in Exposure Draft (ED) 125 FinancialReporting by Local Governments. If the ED 125 approach is applied, revenue and / or expense recognition will not occuruntil either TIDC supplies the related goods and services (where grants are in-substance agreements for the provision ofgoods and services) or until conditions are satisfied. ED 125 may therefore delay revenue recognition compared withAASB 1004, where grants are recognised when controlled. However, at this stage, the timing and dollar impact of theseamendments is uncertain.

End of Audited Financial Statements.


68


69


70

Board Attendance

Board member Meetings eligible Meetings

to attend attended

Ron Finlay 7 7

John Barraclough 7 7

Sue Holliday 6* 5

Vince Graham 6 6

Chris Lock 7 7

Gary Seabury 1 1

(as Acting Railcorp Chief

Executive Officer)

* Leave of absence for meeting

In addition to Board meetings, the Board considered a

number of out-of-session Board papers.

Significant Committees

The Board has three committees that assist in the

effective governance of the Corporation by allowing more

detailed consideration of complex issues than is possible

at general Board meetings. Each committee has Terms of

Reference approved by the Board.

Board Finance and Audit Committee

The Board Finance and Audit Committee provides advice

to the Board on financial reporting practices, business

ethics practices, accounting policies, management and

internal controls, risk management, legal compliance and

compliance with TIDC’s Code of Conduct.

Committee members:

Allan Cook (Chair) – Independent

Dale Cooper – Independent

Richard Lumley – RailCorp representative

Peter Scarlett – Ministry of Transport representative

Ron Finlay – Board Chair

John Barraclough – Board Director

Chris Lock – Chief Executive Officer, Board Director

Board Safety Committee

The Board Safety Committee assists the Board in

discharging its corporate governance obligations with

respect to safety related issues arising from design,

procurement, construction, commissioning, interface

planning and operations of the nominated projects. It also

provides a forum for communication between the Board

and senior management in respect to safety related

matters and ensures the integrity of the safety

management function.

Committee members:

Sue Holliday (Chair) – Board Director

John Barraclough – Board Director


Mr David Harvey is a technical member of the Committee

based on his considerable rail safety experience.

Board Remuneration Committee

The Board established a Board Remuneration Committee

during the reporting period to assist in discharging its

responsibilities relating to determining Chief Executive

Officer (CEO) remuneration and performance

arrangements. The Committee ensures that appropriate

procedures exist to assess the performance and

remuneration levels of the Chairman, non-executive

Directors and Board Committee members. The

Committee is also responsible for assisting the CEO in

reviewing and establishing remuneration and performance

arrangements for TIDC General Managers. The first

meeting of the Committee is scheduled in the next

reporting period.

Committee members:

Ron Finlay (Chair) – Board Chair

Allan Cook – Independent


Appendices


71

TIDC also engages numerous contractors for professional

services not classified as consultancies. These services

include design, technical studies, feasibility studies, survey

and geotechnical studies, masterplanning, property

valuation, financial services, legal services, environmental

assessment and contract management.

Major Works in Progress

During the reporting period, TIDC was responsible for the

following projects:

Epping to Chatswood Rail Line (including Parramatta

Transport Interchange and Chatswood Transport

Interchange)

Construction progressed on these projects, with a

construction cost to date of $1.256 billion. The Epping to

Chatswood Rail Line is due for completion in 2008, the

Parramatta Transport Interchange is due for completion in

2006 and the transport infrastructure component of the

Chatswood Transport Interchange is due for completion

in 2008.


Construction progressed on six of the Rail Clearways

projects due for completion in 2008. The construction

cost to date for these projects is $67.5 million. During the

year, TIDC received direction from the NSW Government

to develop and deliver the 2010 projects of the Rail

Clearways Program.


Early-work construction for this project was commenced

during the reporting year. The construction cost to date

for this project is $2.036 million. The North Sydney Station

Upgrade is due for completion in 2008.


The Minister for Transport provided formal direction to TIDC

during the year to undertake planning for the three projects

comprising the Metropolitan Rail Expansion Program. The

cost to date for these projects is $3.65 million.

Major Challenges

The major challenges TIDC faced during the reporting

period were as follows:

Organisational

• The seamless expansion of the TIDC head office to

two floors of the Zenith Centre in Chatswood to

accommodate TIDC’s organisational growth during

the year.

• The introduction of a new cost management system

and risk management system for the Corporation.

• The increase in the number of staff and the recruitment

of suitable staff with relevant experience due to the

significant rail works being undertaken throughout

Australia and globally.

Projects

• An increased number of projects resulting from

Ministerial direction to deliver the 2010 projects of the

Rail Clearways Program and the North Sydney Station

Upgrade and to undertake planning work for the three

proposed projects comprising the Metropolitan Rail

Expansion Program.

• Commercial issues associated with the overheated

global infrastructure market.

• Material shortages due to increased construction demand.

• The updating and refinement of management systems

and processes to take account of the increased

number of projects and personnel.

Appendices continued

Consultants

Details of amounts paid to consultants to 30 June 2006 are as follows:

Consultants Number of engagements Description of engagement Total amount ($)

Sparke Helmore 1 Safety advisor 68,169

Australian Quality Assurance 1 Project compliance audits 86,492& Superintendent Pty Ltd

Deloitte Touche Tohmatsu 1 Probity audit 275,609

Consultants costing $30,000 or less 4 Various 31,155

Total 461,425


72

Human Resources

Number of Permanent Employees by Category

Category June 06 June 05 June 04 (TIDC commenced operation in January 04)

Management 16 13 9

Other employees 67 49 44

Number of Executive Officers

In accordance with legislative requirements, the following table shows the number of officers who earned above $132,500

as at 30 June 2006.

Category June 06 June 05 June 04(TIDC commenced operation in January 04)

Total executive officers 37 26 21

Female executive officers 2 1 2

Economic or Other Factors

There is a continuing high level of activity in infrastructure

construction both in New South Wales and nationally.

Australia has become part of the global market in

construction resources.

Skilled people are in short supply in most disciplines of

design, project management and construction, and

particularly in specialist rail areas such as signalling and

electrical services.

Cost pressures have increased as a result not only of the

high level of construction activity but also from significant

increases in the cost of steel, oil and copper.

TIDC expects these cost and skill shortages to continue to

adversely impact the construction sector during 2006-2007.

Research and Development

TIDC did not undertake any research or development

activities during the reporting period.



73


Statement of Performance and Remuneration for Senior Executive Officers

In accordance with legislative requirements, the following table shows the remuneration packages of senior executive officers

who earned above $206,101 as at 30 June 2006. No performance bonuses were paid to these senior executive officers.

Position title Officer Total Performance Period in remuneration review summary positionpackage

Chief Chris Lock $420,000 • Oversaw the delivery of • All of reporting year

Executive Officer all TIDC projects

• Administered the management of

TIDC’s risk profile including the

implementation of mitigation strategies

• Supervised TIDC’s commercial

affairs and corporate governance

on behalf of the Board

• Provided a continued focus on

safety – including instituting a

review of TIDC’s safety framework

and procedures

• Drove the Corporation’s focus on

developing enhanced corporate

systems and services to address

organisational growth

• Maintained relations with

key stakeholders

• Oversaw the ongoing development

of better partnering relationships

with contractors

General Manager, Scott Lyall $310,000 • Executive management • All of reporting year

Project Delivery responsibility for:

– The delivery of the ECRL, CTI,

PTI, Rail Clearways and NSSU

projects including administration

of major contracts as the

Principal’s Representative

• Significant involvement in

advancing resolution of

contractual disputes

• Risk management in construction

• Acted as CEO for a period

during the reporting year

General Manager, Bevan Brown $295,000 • First performance review • Commenced

Commercial due January 2007 29/05/06


74



General Manager, John Maher $290,000 • Successfully achieved a resolution • All of reporting year

Commercial (Retiring 31/07/06) on the CTI Public Private Partnership

• Managed the tendering process

and contract documentation for

TIDC projects

• Managed TIDC’s commercial affairs

• Provided assistance in the

commercial resolution of a number

of contractual claims

General Manager, Tim Parker $275,000 • Design management of the ECRL • All of reporting year

Project • Finalisation of the design

Development associated with the PTI

• Managed the concept designs

for the RCP

• Project Director for the MREP

• Managed the design for the NSSU

Director, Rail, Neil Bulgin $251,000 • Managed the ongoing delivery of • All of reporting year

PTI, CTI, the rail interface works for the ECRL

& NSSU • Managed the administration of

construction contracts for the

PTI and the CTI

• Managed the NSSU works as the

Principal’s Representative

• Managed the implementation of

time, cost and risk management

plans in construction

Director, Safety Ken Kelman $250,000 • First performance review • Commenced

and Compliance due January 2007 6/03/06

Director, Reliability Michael Hickey $231,750 • Managed the coordination of • All of reporting year

and Operational commissioning and operational

Readiness readiness for the PTI

• Managed the preparation of the

Operational Readiness Guide

• Managed the review and

implementation of management

procedures for commissioning,

reliability and operational readiness

• Managed the establishment and

running of the ECRL commissioning

management team


75


Director, ECRL Michael Barnfield $230,000 • Managed the ongoing delivery of • All of reporting year

the ECRL including administration of

the major civil and rail systems and

station fit-out contracts

• Administration of the project

management contract

• Managed the implementation of time,

cost and risk management plans

for the ECRL

Chief Financial Joseph Leung $211,150 • Managed treasury functions • All of reporting year

Officer • Managed debt portfolio through

NSW Treasury Corporation

• Managed government

reporting functions

• Managed the preparation and audit

of statutory accounts

• Managed the accounts payable and

payroll functions

• Managed the monthly management

accounting functions

• Managed internal audits

Director, Glenn Bentley $210,000 • Managed the ongoing delivery of • All of reporting year

Clearways the Rail Clearways 2008 projects

including the administration of five

contracts as Principal’s

Representative

• Managed the ongoing delivery of the

Rail Clearways 2010 projects in the

project planning phase

• Managed the implementation of time,

cost and risk management plans

in construction



76

Industrial Relations Policies and Practices

TIDC operates within a very flexible industrial relations environment. All employees have individual workplace agreements.

Overseas Visits

No TIDC employee travelled overseas for a work related purpose during the reporting period.

Occupational Health and Safety Performance (1 July 2005 – 30 June 2006)

TIDC office

Number of lost time work related injuries 0

Number of work related illnesses 0

Number of prohibition notices issued by WorkCover 0

Number of improvement notices issued by WorkCover 0

Number of prosecutions by WorkCover 0

Lost Time Injury Frequency Rate (rolling 12 months) 0

Epping to Chatswood Rail Line, Parramatta Transport Interchange and Chatswood Transport Interchange



Number of prohibition notices issued by WorkCover to a contractor 1

Number of improvement notices issued by WorkCover to a contractor 5

Number of prosecutions of a contractor by WorkCover 0

Lost Time Injury Frequency Rate (rolling 12 months) 3.8

Rail Clearways Program (all projects)



Number of prohibition notices issued by WorkCover to a contractor 1

Number of improvement notices issued by WorkCover to a contractor 1

Number of prosecutions of a contractor by WorkCover 0

Lost Time Injury Frequency Rate (rolling 12 months) 0

These statistics can be compared to the construction industry average Lost Time Injury Frequency Rate of 21.3 (2004-2005).


Land Disposal

During the reporting period one property was disposed ofand another was contractually obligated.

TIDC purchased a property at St Ives as part of a propertyoffset strategy to reinstate Blue Gum High Forestimpacted by the delivery of the Hornsby Station Platform5 and Stabling project. This property at 100 RosedaleRoad described as Lot 13 on DP17431 was valued at$1.3 million and has been transferred to the NationalParks & Wildlife Service (NPWS).

No pecuniary interests were declared by any party in thisproperty acquisition and disposal.

Following a two stage tender process, TIDC entered into a Public Private Partnership Development arrangementwith CRI Australia under which TIDC and RailCorpprovided options for the purchase of freehold andleasehold land at the Chatswood Transport Interchange. In return for development rights, CRI Australia is partlyfunding the transport infrastructure.

Any application for documents concerning details of these property disposals will be assessed in accordancewith the requirements of the Freedom of Information Act1989 (NSW).


77

Freedom of Information Requests (1 July 2005 – 30 June 2006)

New RequestsFOI requests 2005-06 2004-05

A1 New 9 11A2 Brought forward 1 0A3 Total to be processed 10 11A4 Completed 6 10A5 Transferred out 0 0A6 Withdrawn 0 0A7 Total processed 6 10A8 Unfinished (carried forward) 4 1

Completed Requests

Result of FOI request 2005-06 2004-05

B1 Release in full 1 1B2 Release in part 3 3B3 Refused 2 6B4 Deferred 1 0B5 Completed 6 10

Ministerial Certificates

Ministerial certificates issued 2005-06 2004-05

C1 Granted in full 0 0

Formal Consultations

2005-06 2004-05

D1 Number of requests requiring formal consultation 6 5

Amendment of Personal Records

2005-06 2004-05

E1 Number of requests for amendment 0 0

Notation of Personal Records

2005-06 2004-05

F1 Number of requests for notation 0 0

FOI Request Granted in Part or Refused

Basis of disallowing or restricting access 2005-06 2004-05

G1 Section 19 Application incomplete, wrongly directed 0 0

G2 Section 22 Deposit not paid 1 0

G3 Section 25(1) (a1) Diversion of resources 0 1

G4 Section 25(1) (a) Exempt 3 5

G5 Section 25(1) (b),(b1),(c),(d) Otherwise available 1 2

G6 Section 28(1) (b) Documents not held 0 1

G7 Section 24(2) Deemed refused, over 21 days 0 0

G8 Section 31(4) Released to Medical Practitioner 0 0

G9 Totals 5 9



78

Costs and Fees of Requests Processed

2005-06 2004-05Assessed costs FOI fees received Assessed costs FOI fees received

H1 All completed requests $13,500 $7,190 $7,140 $390

Discounts Allowed

2005-06 2004-05

I1 Type of discount allowed 0 0

Days to Process

2005-06 2004-05

J1 0-21 days 1 3

J2 22-35 days 0 5

J3 Over 35 days 5 2

J4 Totals 6 10

Processing Time

Processing hours 2005-06 2004-05

K1 0-10 hours 2 3

K2 11-20 hours 1 3

K3 21-40 hours 2 1

K4 Over 40 hours 1 3

K5 Totals 6 10

Reviews and Appeals

Number finalised during period 2005-06 2004-05

L1 Number of internal reviews finalised 1 1

L2 Number of Ombudsman reviews finalised 0 0

L3 Number of ADT appeals finalised 0 1

Details of internal reviewsBasis of internal review 2005-06 2004-05

Upheld Varied Upheld Varied

L4 Access refused 0 0 1 0L5 Deferred 0 0 0 0L6 Exempt matter 1 0 0 0L7 Unreasonable charges 0 0 0 0L8 Charge unreasonably incurred 0 0 0 0L9 Withdrawn 0 0 0 0L10 Totals 1 0 1 0



79

Payment of Accounts

Total Dollar Amount Paid Each Quarter

Quarter 0-30 days(Paid within terms) 31-60 days 61-90 days >90 days

September 2005 124,607,401 8,916,913 827,649 95,320

December 2005 167,926,786 4,425,996 1,398,009 442,555

March 2006 124,626,566 4,770,221 1,346,154 554,206

June 2006 135,313,732 2,783,319 770,214 3,474,597

Accounts Paid on Time Each Quarter

Quarter Total $ amount Total $ amount Actual % Target %paid on time paid in Qtr

September 2005 124,607,401 134,447,283 92.7 90

December 2005 167,926,786 174,193,346 96.4 90

March 2006 124,626,566 131,297,147 94.9 90

June 2006 135,313,732 142,341,862 95.1 90

Time for Payment of Accounts

During the reporting period there were no instances where TIDC paid interest due to late payments.

Total Project Budgets

Forecast projects costs (on an accrual basis) for each of the projects to be delivered by TIDC are shown below.

Forecast 05/06 Forecast 06/07$ $

Epping to Chatswood Rail Line 475,778,820 326,858,951

Rail Clearways Program 79,394,852 201,862,886

North Sydney Station Upgrade 7,939,000 26,087,000

Metropolitan Rail Expansion Program 5,625,000 1,974,106

Southern Sydney Freight Line – alignment study 150,000 154,000

568,887,672 556,936,943

After Balance Date Events

There were no after balance date events which had a significant effect in the succeeding year on TIDC’s financialoperations, other operations, or the clientele/community served.



80

Investment Performance

TIDC invests with the TCorp Hourglass Cash Facility.

During the financial year, the facility returned 5.7% against

a benchmark established by TCorp of 5.7%. This is

compared with a return for the 2004-2005 financial year

of 5.59% against a benchmark of 5.64%.

Loan Portfolio Performance

TIDC was vested the borrowings for the Epping to Chatswood

Rail Line in September 2004. The portfolio of borrowings is

managed by TCorp under a Risk Management Agreement

that was entered into from 1 November 2004.

At 30 June 2006, the portfolio, totalling $900.3 million, had

made gains of $1.1 million in market value terms.

The TIDC portfolio (3.02% market value change)

outperformed the Benchmark Portfolio (3.2%) in the

financial year to 30 June 2006.

Disclosure of Controlled Entities

TIDC had no controlled entities during the reporting period.

Program Evaluation Results

TIDC implemented no programs worth greater than 10%

of expenses during the reporting period.

Credit Card Certification

During the year, certified credit card usage was in

accordance with the Premier’s Memoranda and Treasury

Circular together with the provisions of the State Owned

Corporations Act 1989.

Funds Granted to Non GovernmentCommunity Organisations

There were no funds granted to non government

community organisations during the reporting period.

Annual Report

The TIDC 2005-2006 Annual Report is available on the

TIDC website at www.tidc.nsw.gov.au. TIDC produced 160

copies of the Annual Report. The cost incurred in the

production of the Report was $18,605.

Legal Change

There were no significant changes in Acts or subordinate

legislation that affected TIDC during the reporting period.

Further, there were no significant judicial decisions affecting

TIDC or recipients of TIDC services during the reporting period.

Departures from Subordinate Legislation Act

There were no departures from the Subordinate Legislation

Act 1989 (NSW) during the reporting period.

Exemptions

TIDC received no exemptions from the Reporting Provisions

of the Annual Reports (Statutory Bodies) Act 1984 for this

reporting period.


Members of the TIDC team and Board Safety Committee ona worksite safety inspection.

TIDC thanks its contractors for coordinating worksite access for the photos captured in this report.

Photography within the report was taken by: Bob Peters Photography, Christopher Shain Photography, and Brett Boardman Photography.

Design and production of the report was completed by Imagecorp.

Front Cover: The design of the public art wall at the Parramatta Transport Interchange represents the importance of public

transport in the development and growth of Parramatta City.

Annual Report 2006Head Office Address: Level 7, Tower A, The Zenith Centre, 821-823 Pacific Highway, Chatswood NSW 2067

Postal Address: Locked Bag 6501, St Leonards NSW 2065

Phone: +61 2 9200 0200 Fax: +61 2 9200 0290 Email: [email protected] Website: www.tidc.nsw.gov.au

Business Hours: 8.30am – 5.30pm Monday - Friday

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