90th ANNUAL REPORTKorpa, Stephanie Administrative Trainee Kowalewski, Joe National Director,...

2014 Printing Industries Association of Australia Annual Report

90th ANNUAL REPORT

WE HELP OUR MEMBERS TO BE MORE PROFITABLE

Annual Report 2014.indb 1 10/05/2015 7:55 pm

2014 Printing Industries Association of Australia Annual Report www.printnet.com.au

2 HEADING

HELPING PRINT PROFESSIONALS

LEADERSHIPFULFILLING CAREERS

LEADWE

HELP MEMBERS

GROWTH

INSPIRING THE FUTUREOF PRINT

DELIVERINGPROFIT

SERVICES

SUSTAINABILITYACHIEVING SUCCESS

BENEFITS OF MEMBERSHIP

CMYK

NETWORKING

SUPPORT

SUPPORTTHE PRINTING INDUSTRIES ASSOCIATION OF AUSTRALIA ENABLESPRINT BUSINESSES

TRAINING PRINT, PACKAGING AND VISUAL COMMUNICATION

WE SUPPORT A CHANGING INDUSTRY

NATIONAL PRINT AWARDS

TRANSFORMINGGROWING

OUR MISSIONTo support an evolving industry.

To help print businesses become more profitable and sustainable.

To enable print professionals to lead fulfilling careers and have a great quality of life.



The Board has pleasure in presenting the 90th Annual Report of the activities of the Association for the year ended 31st December 2014, together with the audited Income Statement, Cash Flow Statement and Balance Sheet for the year ended 31st December 2014.

Presented to the Annual General Meeting held in Sydney on Thursday 14 May 2015 at the North Pod Room of The Dome (Hall 2), Sydney Showground, Sydney Olympic Park Homebush NSW 2127.

CONTENTS PAGEOur Mission . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2

Executive Report . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4

2014 Board Members . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5

Officers Elected for 2014 Were . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5

State Elected Representative Board Members 2014 . . . . . . . . . . . . . . . . 5

National Membership Elected Board Members . . . . . . . . . . . . . . . . . . . 5

Meet the Team . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6

Honour Roll . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8

2014 Year in Review . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10

Financial Reports . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15

Acknowledgements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30

Office Locations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 31

OUR MISSIONTo support an evolving industry.

To help print businesses become more profitable and sustainable.

To enable print professionals to lead fulfilling careers and have a great quality of life.

PRINTING INDUSTRIES ASSOCIATION of AUSTRALIA 90th ANNUAL REPORT FOR THE YEAR ENDED 31ST DECEMBER 2014



4 EXECUTIVE REPORT

2014 has been a fantastic year. The melding of the communication, information and print sectors – of which we are all a pivotal part – creates a rare opportunity for us to renew and transform for bigger, better and brighter things.

Your Printing Industries’ Board has committed itself to the long term sustainability and transformation of the Association. We’ve commenced a process to reposition the Association to deliver vision, purpose, passion and value as the primary representative of the industry. We’re an exciting industry taking important steps into a future filled with great new opportunities.

Through the Australian Government backed and funded Future Print, we worked with some 240 apprentices during 2014 at the skills development end of the business on their current and future training aspirations. We also provided workplace mentoring.

At the business management end more than 150 companies have registered for business transformation briefings, workshops and seminars. These will continue into 2015 as companies set about redefining their business models to develop the necessary cultures, thinking, skills and capabilities to embrace and create their future prosperity.

Also in 2015 we will implement new services and membership models based on the incredibly positive feedback from the recent major research both within and outside of our membership. This delivered some amazing insights into what services are valued, and needed, and what type and level of memberships and fees members and non-members want. Now to build it.

Our goal is to ensure that: ‘We help our members to be more profitable’ by delivering membership services to lead and guide our members to be their best. During 2014 we’ve also introduced free benchmarking, a major research project on Web2Print, introduction of monthly webinars and Better Business partnerships.

Operationally, the Association produced a small expected deficit of $46,557 for 2014. This was made up of $200,000 in non-cash items brought about by the new requirement of the Fair Work Commission to include depreciation on our portfolio of buildings.

The budget position was also impacted by a small decline in membership fees due to industry mergers and transitions, which was offset by tight control of costs and reimbursements from Government projects.

We head into 2015 with a new sense of purpose and excitement working with our members in a developing world of innovation and opportunity. Our go forward strategy will see substantial investments in the transformation of your Association focussed on helping you directly with your people, business performance, sustainability and profitability. We look forward to creating such focus and services to more accurately reflect member expectations, in turn to expand and strengthen our membership base.

We thank our Board for the support, commitment and vision they have shown as part of our own continuing transformation journey, and commend our Association staff for their commitment to deliver this vision, for you, into the future.

FROM OUR PRESIDENT, DAVID LEACH AND CEO, BILL HEALEY

Bill Healey

David Leach



52014 BOARD MEMBERS

OFFICERS ELECTED FOR 2014 WEREPresident

David Leach

Look Print

Deputy President

Susan Heaney

Heaneys Performers in Print, Queensland

Honorary Secretary

Peter Lane oam

Lane Print Group

Honorary Treasurer

Chris Segaert

Permanent Press

STATE ELECTED REPRESENTATIVE BOARD MEMBERS 2014Ross Black

BJ Ball, Victoria

Stephen Edwards

Snap Group, New South Wales

Susan Heaney

Heaneys Performers in Print, Queensland

Mr Graham Jamieson

Picton Press, Western Australia

Peter Lane oam

Lane Print Group, South Australia & Northern Territory

Kieran May

Accross Business, Australian Capital Territory

Robert Yeates

Huon Valley News, Tasmania

NATIONAL MEMBERSHIP ELECTED BOARD MEMBERSDavid Leach

Look Print, New South Wales

Chris Segaert

Permanent Press, New South Wales

2014 Board Members

(l-r) Graham Jamieson, David Leach, Kieran May, Susan Heaney, Peter Lane OAM, Chris Segaert, Robert Yeates, Stephen Edwards and Ross Black.



6 MEET THE TEAM

Garry Knespal Business Development Manager

Joe Kowalewski National Director, Communications, Technology and Creative Services

2014 LEADERSHIP GROUP

Nancy Abeyakoon National Manager, Finance and Administration

Robert Hall-Boman Advisor, Workplace Relations and State Manager Queensland

Bill Healey Chief Executive Officer and State Manager New South Wales

Peter Mansfield General Manager, Member Services and State Manager South Australia and Northern Territory

Paul Nieuwhof National Manager, Member Services and State Manager Western Australia

Charles Watson General Manager, Workplace Relations and Legal Services

Joan Grace General Manager, Innovation, Training & Employment and State Manager, Victoria and Tasmania

2014 STAFF LISTAbeyakoon, NancyNational Manager, Finance and Administration

Barratt, EbonyMember Services Support (Victorian office) (Left September 2014)

Berry, JennyManager Member Services Victoria & Tasmania

Blewett, Michelle Legal Advisor Workplace Relations and Legal Services

Fisher, Mary JoSenior Advisor, Workplace Relations

Grace, Joan (left December 2014)General Manager for Innovation, Training & Employment and State Manager, Victoria and Tasmania

Hall-Boman, RobertAdvisor, Workplace Relations and State Manager Queensland

Healey, BillCEO & State Manager New South Wales

Haines, Brian (left June 2014)Manager, Member Services New South Wales. Mentor, Apprenticeship Advisor and Mentoring Program

Hoban, David (left December 2014)Manager, Member Services – Queensland

Honeybone, VirginiaCo-ordinator, Events & Partnerships

Ireland, MelMember Services Manager Queensland

Itoku, YoshiResearch and Communications Facilitator

Korpa, StephanieAdministrative Trainee

Kowalewski, JoeNational Director, Communications, Technology and Creative Services

Knespal, GarryBusiness Development Manager

HELPING PRINT PROFESSIONALSLEADERSHIP

FULFILLING CAREERS

LEAD

WE HELP MEMBERS

GROWTH


DELIVERING PROFITSERVICES

SUSTAINABILITY

ACHIEVING SUCCESSBENEFITS OF MEMBERSHIP

CMYK

NETWORKING

SUPPORT

SUPPORT

THE PRINTING INDUSTRIES ASSOCIATION OF AUSTRALIA ENABLESPRINT BUSINESSES

TRAINING

PRINT, PACKAGING AND VISUAL COMMUNICATION



TRANSFORMINGGROWING

Annual Report 2014.indb 6 12/05/2015 7:16 am


7

Leong, TheresaPersonal Assistant to CEO

Mansfield, PeterGeneral Manager, Member Services and State Manager South Australia and Northern Territory

Morley, MarilynExecutive Assistant, Workplace Relations and Legal Services

Ni, ShirleyBusiness Support Officer, Accounts

Nieuwhof, PaulNational Manager, Member Services and State Manager Western Australia

O’Halloran, VerityGreen Stamp Project Co-ordinator

Scutter, KayMember Services Support (South Australian office)

Staszak, MichelleAccounts Clerk

Street, DawnMember Services Support (Queensland office)

Walker, Kylie Advisor, Workplace Relations

Walz, Ian (left June 2014)National Program Manager, Apprenticeship Advisor and Mentoring Program

Watson, CharlesGeneral Manager, Workplace Relations and Legal services

Weber, Trent (left June 2014)Creative Services Officer

FUTURE PRINT PROJECTS Management Support and AdministrationGrace, Joan (left December 2014)Project Manager

Finlayson Smith, StuartProjects’ Co-ordinator

Kristen, Beams (left December 2014)Projects’ Co-ordinator (left December 2014)

Syrmas, JimProject Consultant

Apprenticeship ProjectGalbraith, DavidFuture Print Advisor (VIC)

Hirst, DovProject Manager

Scott, JohnFuture Print Advisor (QLD/TAS)

Stanford, FleurProject Administrator

Von Brandis-Martini, PhilippeFuture Print Advisor (NSW/ACT)

Wilson, GordonFuture Print Advisor (SA/NT/WA)

Training ApproachesLees, MichelleProject Officer

Pathways Development & Maryborough ProjectBlack, RobertProject Officer

Drummond, BillProject Officer

Transformation ProgramBarnet, PeterBusiness Advisor (VIC)

Cassell, RohanBusiness Advisor (QLD)

Clements, JohnBusiness Advisor (NSW/ACT)

Locke, IanBusiness Advisor (TAS)

Rasmussen, RichardBusiness Advisor (VIC)

Ryan, AllanLead Advisor

Ryan, MarkBusiness Advisor (SA/NT)

Seman, JaneBusiness Advisor (WA)

SUSTAINABILITYWE SUPPORT A CHANGING INDUSTRY

Annual Report 2014.indb 7 12/05/2015 7:16 am


8 HONOUR ROLL

PRESIDENTS OF THE FEDERATION1924-25 Dr G ANDERSON . . . . . . . . . . . (Victoria)

1925-26 Mr WC PENFOLD. . . . . . . (New South Wales)

1926-27 Mr EC VARDON . . . . . . . . (South Australia)

1927-28 Mr WH CUMMINS . . . . . . . . . (Tasmania)

1928-29 Mr W CHRISTIE . . . . . . . (Western Australia)

1929-30 Mr WA CRICHTON . . . . . . (New South Wales)

1930-31 Mr D MACDOUGALL. . . . . . . . . . (Victoria)

1931-32 Mr GR SAYLE . . . . . . . . . . (Queensland)

1932-33 Mr FW DINNIS . . . . . . . . . (South Australia)

1933-34 Mr H NORMAN . . . . . . . . . . . (Victoria)

1934-35 Mr CW FOX . . . . . . . . . . . . (Tasmania)

1935-36 Mr W CHRISTIE . . . . . . . (Western Australia)

1936-37 Col RS SANDS . . . . . . . . (New South Wales)

1937-38 Mr F BESLEY . . . . . . . . . . (Queensland)

1938-39 Mr RH COTTON . . . . . . . . (South Australia)

1939-40 Mr AR STEWART . . . . . . . . . . (Victoria)

1940-41 Mr GC TAYLOR . . . . . . . . . . (Tasmania)

1941-42 Mr ES WATT . . . . . . . . . (Western Australia)

1942-43 Mr ADG STEWART . . . . . . (New South Wales)

1943-44 Mr FW HASSELL . . . . . . . . (South Australia)

1944-45 Mr A ROWAN . . . . . . . . . . (Queensland)

1945-46 Mr WG ANDERSON . . . . . . . . . . (Victoria)

1946-47 Mr CD STEVENS . . . . . . . . . . (Tasmania)

1947-48 Mr FH VAN HEURCK . . . . . (Western Australia)

1948-49 Mr RV VERNON . . . . . . . (New South Wales)

1949-50 Mr DA DUNSTAN . . . . . . . (South Australia)

1950-51 Mr SK BIGGS . . . . . . . . . . (Queensland)

1951-52 Mr KD MACDOUGALL . . . . . . . . . (Victoria)

1952-53 Mr CE WALCH . . . . . . . . . . . (Tasmania)

1953-54 Mr CH LAMB . . . . . . . . (Western Australia)

1954-55 Mr JH HOLMAN . . . . . . . (New South Wales)

1955-56 Mr KJ LEAL . . . . . . . . . . (South Australia)

1956-57 Mr JJ RAWLINGS/Mr RH BESLEY. . . (Queensland)

1957-58 Mr TM COSH . . . . . . . . . . . . (Victoria)

1958-59 Mr KR GOURLAY . . . . . . . . . (Tasmania)

1959-60 Mr LJH PORTER . . . . . . . (Western Australia)

1960-61 Mr CE CLAYTON . . . . . . . (New South Wales)

1961-62 Mr AT TROEDEL . . . . . . . . . . . (Victoria)

1962-63 Mr SC JAMES . . . . . . . . . . (Queensland)

1963-64 Mr HK FROST . . . . . . . . . (South Australia)

1964-65 Mr JG COOPER . . . . . . . . . . (Tasmania)

1965-66 Mr WT HOLYWELL . . . . . . (Western Australia)

1966-67 Mr EH BOOTH . . . . . . . . (New South Wales)

1967-68 Mr JR WRIGHT . . . . . . . . . . . . (Victoria)

1968-69 Mr DE PENMAN . . . . . . . . . (Queensland)

1969-70 Mr PM COTTON . . . . . . . . (South Australia)

1970-71 Mr NA CRICHTON . . . . . . . (New South Wales)



9

NATIONAL PRESIDENTS1972 Mr EH BOOTH . . . . . . . . . (New South Wales)

(Inaugural National President reconstituted PATEFA)

1973-74 Mr KL BROWN . . . . . . . . . . . . (Victoria)

1975-76 Mr PJ OWENS . . . . . . . . . (South Australia)

1977-79 Mr PK MACDOUGALL . . . . . . . . . (Victoria)

1980-81 Mr BCF PRICE . . . . . . . . . (South Australia)

1981-84 Mr GA LUKE . . . . . . . . . . . . (Victoria)

1985-86 Mr NT CORVISY . . . . . . . (New South Wales)

1987-88 Mr DM BALL . . . . . . . . (New South Wales)

1990-90 Mr WA POWELL . . . . . . . . (South Australia)

1991-92 Mr AC LAMB . . . . . . . . (Western Australia)

1993-94 Mr MR SINNOTT . . . . . . . . . . . (Victoria)

1995-96 Mr P LANE . . . . . . . . . . (South Australia)

1997-99 Mr TS HONE. . . . . . . . . . . . . (Victoria)

2000-01 Mr J FLYNN . . . . . . . . . . . . . (Victoria)

2002-04 Mr C SEGAERT . . . . . . . (New South Wales)

2005-07 Mr P LANE OAM. . . . . . . . (South Australia)

2008-10 Mr J ATKINSON . . . . . . . . . . (Tasmania)

2011-13 Ms S HEANEY . . . . . . . . . . (Queensland)

2013-14 Mr D Leach . . . . . . . . . (New South Wales)

LIFE MEMBERSMr ADG STEWART. . . . . . . . . . (New South Wales)

Mr KJ LEAL. . . . . . . . . . . . . . (South Australia)

Mr WT HOLYWELL . . . . . . . . . . (Western Australia)

Mr SP OWEN . . . . . . . . . . . . (New South Wales)

Mr RA DIX . . . . . . . . . . . . . (Western Australia)

Mr NA CRICHTON AM . . . . . . . . (New South Wales)

Mr K LAW . . . . . . . . . . . . . (New South Wales)

Mr J FISHER . . . . . . . . . . . . (New South Wales)

Mr TS HONE . . . . . . . . . . . . . . . . (Victoria)

COLLEAGUES MOURNEDDuring 2014, five Printing Industries identities passed away.

Noel Alexander Crichton died on Friday 21 February aged 87. Mr Crichton, a Life Member of the Printing Industries Association of Australia, was an active industry participant and Chairman of the National Printing Industry Training Council (NPITC) when he died.

His association involvement began in 1946 with the NSW Young Master Printers’ Association and continued through the 1960s when he was elected Printing and Allied Trades Employers’ Association of NSW (PATEA) Vice-President (1961) and President (1965-67); was appointed to the Federal Executive Council (1960) and became its Vice-President in 1969. In 1970 he was elected President of the transitional Council formed when the state associations united as a Federation.

Mr Crichton served on all of the Federation’s Standing Committees and became National Honorary Secretary in 1982, a position he held until 1997 when he retired after more than 37 years of service with the Federation. In 1994 he was admitted as a Member of the Order of Australia in the Queen’s Birthday Honours in recognition of services to the Printing Industry and particularly to industry training.

Western Australia lost two identities – Robert Charles Milburn and Reg Louden.

Mr Milburn was Western Australian President from 1990-1991 and a National Councillor in 1990.

Reg Louden (Express Print) was still working in his business when he turned 100 in December 2013. He died in June 2014 after a printing industry career that began in 1927.

Victorian Regional Councillor and former Printing Industries’ National Councillor (1977-1979), Peter Macdougall AM (Sands & MacDougall Pty Ltd), died in August at the age of 89. He was a former Chairman of the National Training Council and Chairman of the Melbourne College of Printing and Graphic Arts and was appointed a Member of the Order of Australia (AM) in 1983 for services to the printing industry.



10 2014 YEAR IN REVIEW

A major focus for Printing Industries during 2014 was the finalisation of training programs, industry

education and project implementation under the overarching Future Print initiative. Future Print aims to enhance the skills, productivity and innovation of

the industry and to help businesses to transition in the multi-channel media world.

Up until the end of 2013, the Australian Government had provided Printing Industries with more than $11 million for several projects, some of which will run through to mid-2015 to:

• Deliver the skilled workers necessary to enable transition;

• Support innovation;• Underpin productivity improvements; and• Assist businesses to manage change and reform.

Future Print implementation was a key focus for Printing Industries in 2014, particularly in the key areas of awareness, education and general support. As an example, staff efforts resulted in more than 150 companies attending the Transformation Program briefings, workshops and seminars.

Full details of Future Print’s activities are included as an addendum to this report.

The diverse skills of the Workplace Relations and Legal Services (WRLS) team continued to deliver support and advice to the ever-changing needs of members enabling them to cost-effectively meet ongoing commercial challenges.

On a day-to-day basis, WRLS provided direct assistance to members on more than 6000 occasions and represented on over 100 types of matters before courts and tribunals.

Liaison with all levels of government and prosecutorial bodies ensured that the bona fides of Association members were upheld and their voices heard. This was supported by industry advocacy on a range of issues before various tribunals and government bodies.

A proactive communication plan kept members informed and updated on key compliance, governance and good workplace practices.

Other activities included:• Advocacy on four-yearly award review matters;• Member assistance to ensure compliance with

amendments to the Privacy Act;• Member workplace strategies in relation to the

new workplace bullying jurisdiction of the Fair Work Commission; and

• Delivery of seminars and strategies for workplace mental health management.



LEADWE

HELP MEMBERS

GROWTH


DELIVERINGPROFIT

SERVICES



CMYK

NETWORKING

SUPPORT





TRANSFORMINGGROWING



1111

An important policy milestone was achieved when a Parliamentary inquiry vindicated the Association’s stand on Australia Post. In September 2014, the findings of the Environment and Communications Legislation Committee recommended restoration of Australian Competition and Consumer Commission (ACCC) scrutiny of any proposed changes to the price of business mail. Printing Industries had been calling for ACCC scrutiny since 2011. A second Committee recommendation supported Printing Industries’ concerns on how Post allocated its internal costs by recommending that the Minister for Communications undertake a thorough examination of cost allocation within Australia Post and report back to the Committee.

During October, Printing Industries and Two Sides Australia (TSA) launched the Value of Paper and Print campaign (VoPP). This was built around the release of The Industry Report 2014 – a printed toolkit factually illustrating how the printed word is a critical part of multi-channel communication. It contains research, data, case studies and information that can be used to demonstrate to existing or prospective customers why they should be investing their marketing budgets in print campaigns.

A phase one launch comprised national distribution of the report supported by an extensive media campaign and Printing Industries’ state launches in Sydney, Melbourne and Hobart. Phase two, scheduled for April and May 2015, will involve seminars to attract a wider audience including designers, print buyers and other media influencers. Supported by Media Super, these will be held in Sydney, Melbourne, Adelaide, Brisbane and Perth.

All states hosted highly regarded seminars in mid-2014 on Mental Illness - Dealing with the ‘elephant’ in your workplace. The seminars, in conjunction with beyondblue, illustrated how to identify and deal with workplace mental health issues. These are estimated to cost businesses $11 billion annually. Former South Australian Liberal Senator, current beyondblue Ambassador and Printing Industries’ Senior Workplace Relations Advisor, Mary Jo Fisher, spoke at all forums. She provided practical advice and support activities businesses can use to create mentally healthier workplaces.

Printing Industries continued its sponsorship of Heidelberg Women in Print during 2014 via extensive involvement with networking events in all states. Printing Industries’ Member Services Manager Victoria & Tasmania, Jenny Berry, was appointed Victorian Patron. Printing Industries’ Board Member, Susan Heaney, is the Founding State Patron of Women in Print in Queensland.

In June 2014, Printing Industries’ Board released the findings of a review by the former CEO of IPMG, Stephen Anstice, into

the printing industry awards system. The review found that the declining number of businesses in the industry and the financial challenges facing sponsors meant rationalisation was required to ensure the awards system remained viable and retained its relevance. As a result, the National Print Awards in 2015 will return to a direct entry model. State Printing Industries Craftsmanship Awards (PICA) were suspended in New South Wales, Victoria and South Australia from 2014.

Western Australia and Queensland retained their PICAs in new formats and Tasmania revamped their PICA rebranding as the Diemen Awards. National Print Awards categories were revamped and consolidated into 17 categories more accurately reflecting changes in the industry.

In September 2014, Printing Industries launched an industry-wide Web2Print (W2P) project via a survey to examine the understanding, usage, progress and success of Web2Print technology in Australia. The survey is a major step in a plan to provide Printing Industries’ members with quality information and support to help cope with the challenges of a transforming industry. It is scheduled for release in February 2015 and will comprise an overview of W2P, emerging international trends, W2P survey results, case studies, tips for the future and a vendor guide.

A new program of monthly webinars was introduced at the beginning of 2014 with business and technical strands. Approximately 1050 members and their staff have participated. Business webinars provide information and support on a range cost minimisation and business opportunity topics. These included the value of waste and how you can gain from it, profiting from sustainability, DIY electrical tag and testing, barcoding for printers, voltage optimisation, finance, mergers and acquisitions, business valuation and succession planning. Technical webinars focussed on Adobe software optimisation.

A number of new Better Business partnerships were finalised during the year to expand the range of member information and support services to improve the business bottom line. These were global barcode authority GS1 (Global Standards One), BJ Ball’s e3 Powersave Voltage Optimisation service, Test & Tag Training allowing printing companies to do their own electrical test and tagging and EY’s Energy Intelligence service for energy efficiency monitoring and optimisation.

Plans were finalised during 2014 for PrintEx15 to be held at Sydney Showground, Homebush, while the Darling Harbour Exhibition Centre is being reconstructed. The exhibition, from 13-15 May 2015, will be co-located with the Visual Impact exhibition. Printing Industries will incorporate the Media Super National Print Awards exhibition as part of its

SUSTAINABILITYWE SUPPORT A CHANGING INDUSTRY



12 2014 YEAR IN REVIEW

Information Central stand showcasing industry initiatives and services including Two Sides Australia and Value of Paper and Print campaign, Future Print, drupa 2016, Better Business partners and Media Super.

Extensive work was undertaken during 2014 updating the Association’s websites. PrintNet was given a totally new look as part of a continuing re-branding project, Industry Careers was consolidated into the Future Print site and a new Jobs Board for apprentices added. Design work began on a new site for the Association’s Intech Registered Training Organisation (RTO).

A total of 76 companies continued their Sustainable Green Print certification during 2014. A revamping of the environmental certification program was started to make it more accessible and economical. Online training components are being developed along with an update to each of its three certification levels. The revamped program will be launched during PrintEx15.

A free benchmarking service was launched in the latter part of 2014. Sponsored by Media Super, the service is initially available to printing companies that register with the Future Print Business Transformation Project. Key Performance Indicators (KPIs) include sales, gross profit, outsourcing, wages and other overheads as a percentage of sales, debt days and net profit to owner.

A program of Standing Committee meetings was run in all states during 2014 to provide members the opportunity to catch up on Association’s activities at national and local levels, discuss current industry issues and network with other industry members. Most of these meetings were combined with other activities.

The value of networking opportunities presented by the various printing industry golfing societies around the country was enhanced by their co-ordinated inclusion in Printing Industries’ PrintNet diary and member newsletters.

On a local level, Victoria performed well in the Future Print Apprentice project employing more apprentices than any other state. Jenny Berry was appointed Member Services Manager and in December interim Victoria / Tasmania State Manager following the resignation of Joan Grace. Ms Grace, who was also General Manager for Innovation, Training & Employment, relocated to her home town of Wellington, New Zealand.

In New South Wales a pilot Certificate IV Business Sales course was run by Printing Industries as part of a National Workshop Development Fund project with students required to attend a full day’s training monthly over several months. Its success will lead to an expansion of the project in 2015.

In Queensland Membership Services expertise was bolstered by the appointment of Membership Services Manager, Melissa Ireland. State Workplace Relations Advisor, Robert Hall-Boman, took on the State Manager’s role in January 2014. Long-standing secretariat arrangements with the Queensland Country Press Association (QCPA) continued with support for two executive meetings, a half-yearly conference, annual general meeting, and a Regional Newspaper Awards Night. Secretariat services are also provided to the Furnishing Industry Association of Australia (Queensland) (FIAAQ).

A new look Queensland PICA featured a 60 per cent attendance increase over the previous year and double the number of entries. The Queensland office participated in the state government’s review of print procurement arrangements and in the Ministerial Industry Commission’s Annual Skills Priority report.

A lengthy lobbying effort by South Australia /Northern Territory resulted in increases to the level of funding provided to train apprentices in South Australia. Business policy representation and recommendations to all political parties to promote improvement in business operating conditions for members was a state priority in the lead-up to the state election.

The South Australian office also co-ordinated Member Services activities nationally including the organising of some Future Print mentoring program and support events. The Member Services team visited more than 700 members and made more than 3,000 phone and email contacts to support members in 2014.

The end of the mining boom and corresponding drop in consumer confidence affected most aspects of Western Australia’s business environment. However, several member companies made capital investments in smarter and more energy efficient equipment. WRLS services experienced higher than usual demand, mainly via entitlement disputes.

The Local Green Stamp program funded by the Waste Authority is growing and the data being providing is sending a positive message to government about the print and paper industries environmental credentials.

Products & knowledge to help you save and make money

Speak directly to one of Make It Cheaper’s Sydney-based business power experts on (02) 8880 4306or visit www.betterbusiness.net.au for more info

You could be saving up to 20% on your power bills...

The Printing Industries Association of Australia have teamed up with saving experts Make It Cheaper to offer members the opportunity to reduce their power bills in one easy phone call. They compare prices from a wide range of energy retailers, find their customers a new deal and take care of the switch. Savings could easily come in at around 20%, which clearly has the potential to make a huge impact on your company’s financials.

• The best power prices are available to firms that engage with the market.

• Make It Cheaper will compare the leading energy retailers to offer you the best deal available on their system.

• A time-effective, hassle-free route to increased profit.

• Most businesses are free to switch whenever they want.

• A power bill of $3,000 could easily decrease to around $2,400.

• Free quotes and no switching fee requested – Make It Cheaper are paid by energy retailers.

• Zero possibility of your gas or electricity supplies being cut off during switch.

• Average SME saving is currently at $1,051 per year

An initiative of the Printing Industries Association of Australia

We are saving Bright Print Group $10,750 over two years by re-negotiating their power prices.

“I wanted to look at my electricity pricing as I was aware that our current contract was coming up for renewal. The Printing Industries Association

of Australia, provided me with Make It Cheaper’s contact details as they are currently partnered with the association.

In terms of the process, I found it really easy. I called Michael, one of the commercial account managers, he requested a copy of my latest bills and then went to market

to compare the retailers rates. Once he had received all of the offers, he came back with a proposal, easily showing which retailer had the best solution. Michael was very

pleasant and responsive during the whole experience. Overall it was a very simple and straight forward process, I would recommend the service to other businesses and

especially to other members of the association. I was very pleased with the saving.”

— DEBBIE BURGESS - BRIGHT PRINT GROUP

Scan the QR Codewith your Smartphone

There are lots of good reasons to get in touch:

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Products & knowledge to help you save and make money

Speak directly to one of Make It Cheaper’s Sydney-based business power experts on (02) 8880 4306or visit www.betterbusiness.net.au for more info

You could be saving up to 20% on your power bills...

The Printing Industries Association of Australia have teamed up with saving experts Make It Cheaper to offer members the opportunity to reduce their power bills in one easy phone call. They compare prices from a wide range of energy retailers, find their customers a new deal and take care of the switch. Savings could easily come in at around 20%, which clearly has the potential to make a huge impact on your company’s financials.

• The best power prices are available to firms that engage with the market.

• Make It Cheaper will compare the leading energy retailers to offer you the best deal available on their system.

• A time-effective, hassle-free route to increased profit.

• Most businesses are free to switch whenever they want.

• A power bill of $3,000 could easily decrease to around $2,400.

• Free quotes and no switching fee requested – Make It Cheaper are paid by energy retailers.

• Zero possibility of your gas or electricity supplies being cut off during switch.

• Average SME saving is currently at $1,051 per year

An initiative of the Printing Industries Association of Australia

We are saving Bright Print Group $10,750 over two years by re-negotiating their power prices.

“I wanted to look at my electricity pricing as I was aware that our current contract was coming up for renewal. The Printing Industries Association

of Australia, provided me with Make It Cheaper’s contact details as they are currently partnered with the association.

In terms of the process, I found it really easy. I called Michael, one of the commercial account managers, he requested a copy of my latest bills and then went to market

to compare the retailers rates. Once he had received all of the offers, he came back with a proposal, easily showing which retailer had the best solution. Michael was very

pleasant and responsive during the whole experience. Overall it was a very simple and straight forward process, I would recommend the service to other businesses and

especially to other members of the association. I was very pleased with the saving.”

— DEBBIE BURGESS - BRIGHT PRINT GROUP

Scan the QR Codewith your Smartphone

There are lots of good reasons to get in touch:

makeitcheaper_printad04052015.indd 1 4/05/2015 1:35:57 PMAnnual Report 2014.indb 13 10/05/2015 7:55 pm



LEADWE

HELP MEMBERS

GROWTH


DELIVERINGPROFIT

SERVICES



CMYK

NETWORKING

SUPPORT





TRANSFORMINGGROWING



CONTENTS PAGEIncome Statement . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16Balance Sheet . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17Statement of Cash Flow . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18Statement of Changes in Equity . . . . . . . . . . . . . . . . . . . . . . . . . . 19Notes to the Accounts . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20 to 24Statement by Committee of Management . . . . . . . . . . . . . . . . . . . . 25Operating Report . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26Auditor’s Report to Members . . . . . . . . . . . . . . . . . . . . . . . . 27 to 29

PRINTING INDUSTRIES ASSOCIATION of AUSTRALIA FINANCIAL STATEMENTS AND REPORTS FOR THE YEAR ENDED 31ST DECEMBER 2014


16 FINANCIAL REPORTS Printing Industries Association of Australia


Notes 2014 2013

Revenues from Ordinary Activities 2 3,410,924 4,187,468

Depreciation 1(c) (176,609) (183,887)

Salaries, Wages & Allowances 1(g) (1,992,149) (2,401,216)

Annual Leave Provided (15,236) (10,443)

Long Service Leave Provided (14,500) (17,250)

Superannuation (175,470) (194,462)

Grants/Sponsorship (11,773) (12,680)

Affiliation Fees 1(h) (51,918) (45,591)

Postage (30,298) (23,045)

Printing & Stationery (111,484) (125,436)

Property Costs (160,305) (172,445)

Telephone & Facsimile (82,015) (91,304)

Travel (89,559) (120,663)

Computer (53,328) (61,020)

Consultancy (173,111) (138,601)

Motor Vehicle (39,050) (44,835)

Meeting Costs (59,790) (63,229)

Advertising & Marketing (34,234) (45,957)

Other (186,652) (139,745)

Surplus (Deficit) from activities before income tax expense (46,557) 295,659

Income Tax Expense 1(e) - -

Net surplus (deficit) after income tax attributable to the Association (46,557) 295,659

INCOME STATEMENTFOR THE YEAR ENDED 31 DECEMBER 2014

The accompanying notes form part of these financial statements



Notes 2014 2013

Current Assets

Cash on Hand 2,350 2,350

Cash at Bank 323,743 (11,907)

Investments -Term Deposits 523,158 655,256

Investments - INTECH Shares 70,000 70,000

Subscriptions and General Debtors 5 255,644 391,390

Prepayments 20,150 12,067

Regional Activities –PICA/NPA 730,533 685,014

AAA Project 1,801,592 2,240,961

Mentoring /Advisors Project 85,110 741,650

NWDF Project 33,467 -

Total Current Assets 3,845,747 4,786,781

Non Current Assets

Land & Buildings 4 5,260,311 5,375,479

Furniture, Fittings & Office Equipment 4 49,373 66,383

Motor Vehicles 4 80,315 129,203

Total Non Current Assets 5,389,999 5,571,065

Total Assets 9,235,746 10,357,846

Current Liabilities

Printing Industries’ Training Fund 7,944 7,944

Revenue in Advance 31,399 23,408

Sundry Creditors & Accruals 6 2,372,952 3,397,965

Provision for Annual Leave 1(d) 131,907 133,920

Total Current Liabilities 2,544,202 3,563,237

Non Current Liabilities

Provision for Long Service Leave 1(d) 180,459 236,967

Total Non Current Liabilities 180,459 236,967

Total Liabilities 2,724,661 3,800,204

Net Assets 6,511,085 6,557,642

Members’ Funds

Accumulated Funds 10 6,511,085 6,557,642

Total Members’ Funds 6,511,085 6,557,642

BALANCE SHEETAS AT 31 DECEMBER 2014


17




2014 2013

Operating Activities

Receipts from Customers 3,452,337 3,971,799

Interest Received 27,630 13,169

Payment to Suppliers & Employees (3,279,567) (3,711,372)

Net cash inflow from Operating Activities 200,400 273,596

Investing Activities

Proceeds from Sale of Assets 11,350 4,000

Payment for Property, Plant & Equipment (8,198) (18,387)

Net cash inflow /(outflow)from investing activities 3,152 (14,387)

Net Increase/(Decrease) in cash and cash equivalents 203,552 259,209

Cash and cash equivalents at the Beginning of Financial Year 645,699 386,490

Cash and cash equivalents at the End of Financial Year 849,251 645,699

2014 2013

Operating Surplus/(Deficit) after Income Tax (46,557) 295,659

Non Cash Flows In Operating Profit/(Loss):

Profit on Sale of Non Current Assets 1,305 (3,451)

Depreciation 176,609 183,888

Charges to Provision for Employee Entitlements (58,522) (39,908)

Changes In Assets & Liabilities

Decrease/(Increase) in Current Receivables 135,745 (177,496)

Decrease/(Increase) in Prepayments (Projects) 1,061,508 (2,321,277)

Increase/(Decrease) in Sundry Creditors (1,016,094) 2,363,055

Increase / (Decrease) in Training Fund -Tasmania - (1,999)

Increase/(Decrease) in Subscriptions in Advance (8,075) 14,162

Increase/(Decrease) in Regional Activities (45,519) (39,037)

Net Cash Provided by/(used in) Operating Activities 200,400 273,596

Reconciliation of cash and cash equivalents

Cash on Hand 326,093 (9,557)

Cash at Bank 523,158 655,256

849,251 645,699

STATEMENT OF CASH FLOWFOR THE YEAR ENDED 31 DECEMBER 2014

RECONCILIATION OF FUNDS FROM OPERATIONSFOR THE YEAR ENDED 31 DECEMBER 2014




Retained Earning

Balance as at 01 January 2013 6,261,980

Rounding 3

Net Surplus 295,659

Balance as at 31 December 2013 6,557,642

Net Surplus (Deficit) for the Year (46,557)

Balance as at 31 December 2014 6,511,085

STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 DECEMBER 2014


19




1. STATEMENT OF ACCOUNTING POLICIES

The financial statements have been drawn up in accordance with applicable Australian Accounting Standards, other mandatory professional reporting requirements and the Fair Work (Registered Organisations) Act 2009.

The financial report is a general purpose financial report that has been prepared in accordance with Australian equivalents to International Financial Reporting Standards (AIFRS), Urgent Issues Group Interpretations, other authoritative pronouncements of the Australian Accounting Standards Board and the Corporations Act 2001.

The financial report of Printing Industries Association of Australia complies with all Australian equivalents to International Financial Reporting Standards (AIFRS) & other mandatory professional reporting requirements including the Workplace Relations Act. The following is a summary of the material accounting policies adopted by the Association in the preparation of the financial report. The accounting policies have been consistently applied, unless otherwise stated.

(a) Non-Current Assets 2.5% Depreciation was provided for buildings during the year. Furniture, fittings and office equipment have been

included in the accounts at cost. The properties have not been revalued and are being carried at cost.

(b) Leased Assets The Association does not have any leases that are classified as financial leases under Accounting Standard AASB117.

Lease payments made under operating leases are charged to the Statement of Financial Performance in equal instalments over the accounting period covered by the lease term.

(c) Depreciation Method Depreciation has been provided on all non-current assets, with the exception of those referred to in part (a), using the

straight-line method so as to write off the cost of the asset over the estimated useful life. Where assets have been re-valued depreciation is based on the re-valued amount. The depreciation rates used for each class of depreciable asset are:

Motor Vehicles 20% Furniture, Fittings & Office Equipment 7.5% - 20% (d) Provision for Employee Entitlements The amounts expected to be paid to employees for their pro-rata entitlement to long service and annual leave are

accrued annually at current pay rates having regard to experience of employee departures and period of service. Provision for Long Service Leave is provided for all employees with five or more years’ service. No other provisions were made for separation and redundancies for employees. No provisions were made to holders of office.

(e) Income Tax The Association is exempt from income tax under Division 50 of the Income Tax Assessment Act 1997 on the grounds

that it is an association of employers registered under the Fair Work Act. (f) Provision for Doubtful Debts The collectability of debts is assessed at year-end and provision is made for any specific doubtful debts.

(g) Employee Expenses Two employees were made redundant during the year and $35.7k was made in redundancy payments .No payments

were made to Office holders except for reimbursement of expenses in relation to attendance at Association meetings.

(h) Affiliation fees $37k was paid to the Australian Chamber of Commerce and Industry in affiliation fees.

(i) Revenue Revenue is measured at the fair value of the consideration received or receivable. Revenue from subscription is

accounted for on an accrual basis and is recorded as revenue in the year in which it relates.

NOTES TO AND FORMING PART OF THE ACCOUNTSFOR THE YEAR ENDED 31 DECEMBER 2014



Major revenue items entering into the determination of operating surplus/(deficit)

2014 2013

Subscription Revenue 2,121,611 2,247,132

Net Income from Regional Activities 1,130,988 1,162,581

Interest on Short-term Investments 27,630 13,169

Rental Income 84,911 94,897

PacPrint 43,299 669,404

Bad Debts Recovered 2,485 285

3,410,924 4,187,468

The Operating Surplus/(Deficit) before Income Tax has been determined after charging the following specific items:

2014 2013

Bad Debts written off to Profit & Loss 35,537 11,715

Depreciation 176,609 183,887

Operating Leases 44,989 37,256

Auditor’s Remuneration:

The total amount received or due and receivable by the Auditors of the Association:

For Audit Services 27,000 27,000

For Other Services - -


2. OPERATING SURPLUS/(DEFICIT)

3. OPERATING SURPLUS /(DEFICIT)

21




Non Current Assets are included in the accounts on the following bases:

2014 2013

Land & Building at Cost 5,582,700 5,582,700

Less: Accumulated Depreciation (322,389) (207,221)

5,260,311 5,375,479

Furniture, Fittings & Office Equipment at Cost 412,318 417,808


49,373 66,383

Motor Vehicles at Cost 214,256 244,451


80,315 129,203

Total Non Current Assets 5,389,999 5,571,065

Debtors 325,208 459,843

Less: Provision for Doubtful debts (69,564) (68,453)

Total Subscriptions in Arrears & General Debtors 255,644 391,390

Sundry Creditors 64,660 113,410

Accruals 335,460 307,171

Projects – Government/Other 1,972,832 2,977,384

Total Sundry Creditors and Accruals 2,372,952 3,397,965

4. NON-CURRENT ASSETS

5. SUBSCRIPTIONS IN ARREARS & GENERAL DEBTORS

6. SUNDRY CREDITORS AND ACCRUALS




a. Operating Lease commitments

Not later than one year 33,540 33,540

Later than one year and not later than two years 22,998 33,540

Later than two years and not later than five years 9,000 30,084

7. COMMITMENTS FOR EXPENDITURE

The Association contributes to a superannuation fund designed for management and staff. Those contributions are fully vested, and the rate of contribution is as set down under relevant Government Legislation.

The Association is under no legal obligation to make up any shortfall in the assets of the fund to meet payments due to employees.

a) Interest Rate Risk

The Association’s exposure to interest rate risk, which is the risk that a financial instrument’s value will fluctuate as a result of changes in market interest rates and the effective weighted average interest rates on classes of financial assets and financial liabilities, is as follows:

b) Credit Risk The maximum exposure to credit risk, excluding the value of any collateral, or other security, at balance date to be

recognised as financial assets is the carrying amount, net of any provisions for doubtful debts, as disclosed in the balance sheet and notes to the financial statements. The Association does not have any material credit risk exposure to any single debtor or group of debtors under financial instruments entered into by the Association.

c) Net Fair value The net fair values of all assets and liabilities approximate their carrying value. No financial assets or liabilities are readily

traded on organised markets in standardised form.

8 SUPERANNUATION COMMITMENTS

9. FINANCIAL INSTRUMENTS

Weighted Average Effective Rate

Floating Interest Rate Non Interest Bearing Total

2014 % 2013 % 2014 $ 2013 $ 2014 $ 2013 $ 2014 $ 2013 $

Cash 2.5 2.5 - -

Receivable - - 848,802 1,116,646 848,802 1,116,646

Investments 2.5 2.5

Totals - 848,802 1,116,646 848,802 1,116,646

Creditors 400,120 420,581 400,120 420,581

Totals 400,120 420,581 400,120 420,581

23





2014 2013

Retained surplus at beginning of the year 6,557,642 6,261,980

Net surplus/(deficit) attributable to the Association (46,557) 295,659

Rounding - 3

Retained Surplus at the end of the Financial Year 6,511,085 6,557,642

10. RETAINED PROFITS

The Board members of the Association act in an honorary capacity and receive no remuneration.

Each Board member is a representative of an organisation who is itself, a member of the Association and who pays an annual subscription for that membership under normal commercial conditions.

In accordance with the requirements of the Fair Work (Registered Organisations) Act 2009 Section 272:

1. A member of the reporting unit, or the Registrar, may apply to the reporting unit for specific prescribed information in relation to the Association to be made available to the person making the application.

2. The application must be in writing and must specify the period within which, and the manner in which, the information is to be made available. The period must not be less than 14 days after the application is given to the reporting unit.

3. The reporting unit must comply with an application under subsection (1).

11. RELATED PARTIES

12. MEMBERS’ ACCESS TO FINANCIAL RECORDS



STATEMENT BY COMMITTEE OF MANAGEMENT

In relation to the General Purpose Financial Report (GPFR) for the year ended 31 December 2014, the Committee declares that, in the opinion of the Committee of Management:

a. The financial statements and notes comply with the reporting guidelines of the Industrial Registrar for the purposes of section 255 of the Registration and Accountability of Organisations (RAO) Schedule;

b. The financial statements and notes give a true and fair view of the financial performance, the cash flows and financial position of the Association for the year ended 31 December 2014;

c. The accounting policies are consistent with those of the previous year and comply with the Australian Accounting Standards.

d. There are reasonable grounds to believe that the Association will be able to pay its debts as and when they fall due;e. During the financial year to which the GPFR relates and since the end of that year:

i. meetings of the Committee of Management were held in accordance with the rules of the Association, andii. the financial affairs of the Association have been managed in accordance with the rules of the Association, andiii. the financial records of the Association have been kept and maintained in accordance with the RAO Schedule and the

RAO Regulations, andiv. the information sought in any request of a member of the Association or a Registrar under section 272 of the RAO

Schedule has been furnished to the member or the Registrar, andv. There has been compliance with any order for inspection of financial records made by the Commission under section

273 of the RAO Schedule.f. In relation to the recovery of wages activity, the Association is a registered employer association, and as such is not

involved in such activities. During the year there was no recovery of wages from members of the Association or others.

Signed in accordance with a resolution of the Committee of Management, passed on the 5th day of March 2015.

Chris SegaertNational Honorary TreasurerDate: 5th March 2015

25




OPERATING REPORT FOR THE YEAR ENDED 31 DECEMBER 2014

In accordance with section 254 (2) (f) of Fair Work (Registered Organisations) Regulations 2009 – Regulation 159, the Committee of Management reports as follows:

Principal ActivitiesDuring the year the Association continued to assist its members with specialty services, advice, support and representation. As a result of these activities, The Association incurred a deficit of $46,557 during the year. There were no significant changes in the nature of the activities during the year.

Resignation of Members (Section 174) and clause 8 of the Association constitution 1. A member of the Association may resign by written notice addressed and delivered to a person designated for the purpose

in the rules of the Association.2. This resignation will take effect from:

a. Where the member ceases to be eligible to be a member of the Association:i. On the day on which the notice is received by the Association; orii. On the day specified in the notice, which is a day not earlier than the day when the member ceases to be eligible to

be a member; whichever is later; or b. in any other case;

i. at the end of two weeks, or such shorter period as is specified in the rules of the Association, after the notice is received by the Association; or

ii. On the day specified in the notice: whichever is later. 3. Any dues payable but not paid by the former member of the Association. In relation to a period before the member’s

resignation from the Association took effect, may be sued for and recovered in the name of the Association, in a court of a competent jurisdiction as a debt due to the Association.

4. A notice delivered to the person mentioned in subsection (1) is taken to have been received by the Association when it was delivered.

5. A notice of resignation that has been received by the Association is not invalid because it was not addressed and delivered in accordance with subsection (1).

6. A resignation from membership of the Association is valid even if it is not affected in accordance with this section if the member is informed in writing by or on behalf of the organisation that the resignation has been accepted.

Superannuation InvolvementNo officer or member of the Association is a trustee of a superannuation entity or an exempt public sector superannuation scheme; or a director of a company that is a trustee of a superannuation entity or an exempt public sector superannuation scheme. Susan Heaney and Peter Halters are members of the Association and directors of a company that is a trustee of Media Super a superannuation entity. Susan Heaney is a current Board Member of the Association.

Regulation 159 Informationa. There were 1,081 members recorded in the register of members (section 230 of the RAO) and who are taken as

members (section 244 of the RAO) at the end of the financial year.b. There were 28 full time equivalent employees of the Association at the end of the financial year.c. For the duration of the Financial year unless indicated otherwise Board members during the year were:

Susan Heaney David Leach Chris Segaert Robert Yeates Graham Jamieson Ross Black Peter Lane Stephen Edwards Kieran May

Chris SegaertNational Honorary TreasurerDate: 5th March 2015



INDEPENDENT AUDITOR’S REPORTPRINTING INDUSTRIES ASSOCIATION OF AUSTRALIAABN 84 720 646 451

To the members of Printing Industries Association of Australia:

We have audited the accompanying financial report of Printing Industries Association of Australia (“the Association”), which comprises the statement of financial position as at 31 December 2014, the statement of comprehensive income, the statement of changes in equity and the statement of cash flows for the year then ended, notes comprising a summary of significant accounting policies and other explanatory information, and the Statement by Committee of Management of the Association.

Directors’ Responsibility for the Financial Report The directors of the Association are responsible for the preparation of the financial report that gives a true and fair view in accordance with Australian Accounting Standards and the Corporations Act 2001 and for such internal control as the directors determine is necessary to enable the preparation of the financial report that gives a true and fair view and is free from material misstatement, whether due to fraud or error.

Auditor’s Responsibility Our responsibility is to express an opinion on the financial report based on our audit. We conducted our audit in accordance with Australian Auditing Standards. Those standards require that we comply with relevant ethical requirements relating to audit engagements and plan and perform the audit to obtain reasonable assurance about whether the financial report is free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial report. The procedures selected depend on the auditor’s judgement, including the assessment of the risks of material misstatement of the financial report, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the company’s preparation of the financial report that gives a true and fair view in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the company’s internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by the directors, as well as evaluating the overall presentation of the financial report.

Our audit did not involve an analysis of the prudence of business decisions made by directors or management. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

IndependenceIn conducting our audit, we have complied with the independence requirements of the Australia professional account bodies, and the Fair Work (Registered Organisations) Act 2009.

27




INDEPENDENT AUDITOR’S REPORT

Auditor’s Opinion In our opinion: (a) the financial report of Printing Industries Association of Australia is in accordance with the Fair Work (Registered

Organisations) Act 2009, including: (i) giving a true and fair view of the Association’s financial position as at 31 December 2014 and of its performance for the

year ended on that date; and (ii) complying with Australian Accounting Standards (including Australian Accounting Interpretations) and the Fair Work

(Registered Organisations) Act 2009 and all requirements imposed by Part 3 of Chapter 8 of the Fair Work (Registered Organisations) Act 2009.

(b) management’s use of the going concern basis of accounting in preparation of the financial statements is appropriate, however given that not all future events or conditions can be predicted, this statement is not a guarantee as to the entity’s ability to continue as a going concern.

BELL PARTNERSChartered Accountants

Donald F. BellRegistered Company Auditor

Address: 26A Lime Street King Street Wharf SYDNEY NSW 2000

Dated this 10th day of March 2015



INFORMATION ADDENDUM FOR MEMBERS

Following on from the 2003 Annual General Meeting,then the National Council requested that the following additional information be provided to members. The information set out in the Statement of Financial Performance is in line with the requirements of the various statutes, but the National Council has requested that more details be provided in respect of “Other Expenses”. This addendum does not form part of the audited Financial Statements, but is included for the information of members.

ANALYSIS OF OTHER EXPENSES

EXPENDITURE 2014 2013

Audit Fees 27,000 27,000

Insurances 22,898 22,540

Legal and Debt Recovery 22,371 1,242

Publications & Journals 19,791 20,036

Public Relations & Entertainment 2,694 8,530

Repairs 34,264 26,731

Bank Fees 12,091 15,259

Bad Debts 35,537 11,715

Loss/Profit on sale of assets 1,305 (3,451)

General 8,701 10,143

TOTAL 186,652 139,745

29


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OFFICE LOCATIONSNew South Wales & Australian Capital Territory

25 South Parade Auburn NSW 2144

Phone: (02) 8790 7300 Fax: (02) 8790 7387

Toll Free: 1800 227 425E-mail: [email protected]

Queensland2/42 Finsbury Street Newmarket QLD 4051Phone: (07) 3356 0022

Fax: (07) 3356 0027 Toll Free: 1800 227 425

E-mail: [email protected]

South Australia & Northern TerritoryUnit 1, 4-8 Goodwood Road

Wayville SA 5034Phone: (08) 8373 0622

Fax: (08) 8373 0644 Toll Free: 1800 227 425


Victoria & TasmaniaUnit 3, 5-7 Compark Circuit

Mulgrave VIC 3170Phone: (03) 8541 7333

Fax: (03) 9561 8780 Toll Free: 1800 227 425


Western Australia111-113 Burswood Road

Burswood WA 6100Phone: (08) 9361 4625 Fax: (08) 9362 5085

Toll Free: 1800 227 425E-mail: [email protected]

www.printnet.com.au2014 Printing Industries Association of Australia Annual Report



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