The Sydney Cricket Ground has
a unique place in the hearts of all
New South Wales sports lovers.
It is an historic venue which,
together with Aussie Stadium,
provides world-class facilities for
Members, patrons and competitors.
It is also an iconic venue that is
the source of many memories.
Who can forget those first
experiences of a stand reverberating
to the sound of a crowd clapping,
stomping and cheering a bowler
as he strides towards his delivery.
It is a venue that evokes passion,
respect and excitement.
It is also a venue that has sought to
look to the future hosting key events
for NSW. Music, AFL, League,
Union, Football, Mundine v Green
and events to raise community
awareness. It is a venue that
continues to build towards success.
During 2006/07 the Trust
demonstrated its continued
commitment to improve patron
amenities and player facilities.
The Trust’s capital works program of
$19.5 million in projects undertaken
during the year was primarily
directed at providing new spectator,
player and hirer facilities.
I appreciate the Trust’s support
during the year for a number of
community and charitable events
staged at the grounds, and the
Trust’s continued recognition
of those Members attaining
70 years membership of the
Sydney Cricket Ground.
I thank the Trust Chairman,
Rodney Cavalier, his deputy
John Cloney, their fellow Trustees,
management and staff for their
hard work in the past year and
most of all the many Members
and supporters.
THE HON. GRAHAM WEST, MP
Minister for Gaming and Racing,
Minister for Sport and Recreation
06/07 ANNUAL REPORT 1
Minister’s Foreword ........................................................................................................... 1
Chairman’s Report ............................................................................................................ 2
Managing the Events ......................................................................................................... 6
Managing the Assets ......................................................................................................... 18
Commercial and Operations ............................................................................................. 24
Marketing and Membership .............................................................................................. 26
Business Development ...................................................................................................... 28
Corporate Services/Financial Report ............................................................................... 32
Information Technology ..................................................................................................... 38
Organisational Chart .......................................................................................................... 39
Trustees .............................................................................................................................. 40
Financial Indicators ........................................................................................................... 43
Independent Audit Report ................................................................................................. 44
Statement by Members of the Trust ................................................................................. 45
Audited Financial Statement and Notes ........................................................................... 46
Ethnic Affairs Priorities Statement ................................................................................... 84
Code of Conduct ................................................................................................................. 86
Complaints Handling/Privacy Policy ................................................................................. 89
Freedom of Information ..................................................................................................... 90
Trust Charter and Constitution ......................................................................................... 91
Trust Meetings ................................................................................................................... 92
SYDNEY CRICKET & SPORTS GROUND TRUST
TABLE OF CONTENTS MINISTER’S FOREWORD
SCG12873_SectionA_24.08.07 15/10/07 1:30 PM Page B
Properties
In the course of the year the
Trust funded a capital works
program totaling $19.5 million.
The works sought to improve the
facilities in every area affecting
spectators and users. You can
see the value of $3.25 million in
work undertaken in the Churchill
Dining Room, Club SCG and at
Aussie Stadium.
The Rugby Centre of Excellence
commenced in July 2006. At a
cost of $6 million the facility is
designed to cater for all facets
of Rugby’s operations in NSW.
The seating capacity of Aussie
Stadium was increased by 3,112
seats. The cost was $4.6 million
during the course of five
construction stages. Aussie
Stadium now has a second video
screen at the southern end.
For a Trust conscious of its
history and traditions, the SCG
Museum will continue to receive
loving attention. The work
undertaken was not so much
refurbishment as a complete
overhaul of the content, the
possibilities for exhibitions
and general presentation.
Business Development
Over 60 per cent of venue usage
for functions came from our
sporting and commercial
partners. The sale of annual
facilities at Aussie Stadium was
strong throughout the year. The
portfolio of premium teams and
variety of quality events over the
course of a year represented very
good value to corporate clients.
Expressions of interest were
invited for registered charities
to become an official SCG Trust
Charity for the next two years.
The six charities successful are:
• St Vincent de Paul Society
• Juvenile Diabetes Research
Foundation
• Kidney Health Australia
• Canteen
• Lupus Foundations of NSW
• Roden Cutler Charities INC
The Harvey Norman Media
Challenge was held for the
second time. This touch football
day involves teams from all
the major Sydney media and
advertising outlets. Over $100,000
was raised for the Leukemia
Foundation. Organisers are
confident they can increase
this in following years.
The Trust continued to support
other charities and sporting
benevolent groups in unheralded
ways. Being able to hold a function
on or near the grounds means
everything for those who enjoyed
great triumphs on our soil.
Marketing & Membership
The Trust introduced Members
Liaison Officers during the 2007
International Cricket Season to
provide Members with an increased
level of customer service. Our
Liaison Officers were impossible to
miss. Assistance during a game is
not hard to find given the distinctive
uniforms worn by the attendants
and crowd controllers.
The Trust has secured additional
reciprocal rights at other venues
and sporting grounds. Members
can now seek the exercise of
their SCG membership at
M. Chinnaswamy Stadium
(Bangalore, India), Eden Park
in Auckland, New Zealand and
the Queen’s Park Cricket Club
(Port of Spain, Trinidad).
The Trust offered a range of event
and non-event day events and
activities for Members. The 2007
SCG Ashes Test Match saw the
CHAIRMAN’S REPORT
2 06/07 ANNUAL REPORT 3
The Trust exists to serve the glory
of sport. This report covers the
year which ended on 28 February
2007, another 12 months of
wonderful moments on our two
grounds. In January lovers of
cricket, especially those who hold
the Ashes in reverence, witnessed
what we did not ever expect
to see – Australia complete a
5-0 scoreline against England.
Comprehensive demolition
of other Test sides in Australia
may have become the norm,
the Ashes may already have been
in the bag, nothing diminished
the magnificence of Australia’s
all out effort for victory in the Fifth
Test in the shortest possible time.
Over the whole year there were
some 82 event days which drew
1.6 million spectators.
The Trust continued to operate in
profit – $5.5 million compared to
$4.7 million in the previous year.
Every dollar is hard won these
days. The environment is more
competitive than ever, especially
from interstate. Our solid financial
base, confidence about generating
revenues, convinced the Trustees
to embark on the largest program
of capital works since the
construction of the Sydney
Football Stadium in 1986-88.
For the previous decade we have
been driving debt levels down.
We are one of the few government
agencies anywhere in the world
to have secured a ratings upwards
during that period. The Trustees
were the hardest audience to
convince that a new grandstand
would pay for itself. We did not
want to follow the modern stadium
model of being servants to debt.
The Trust became convinced that
our business model and capacity
to generate new and additional
revenues would make the new
grandstand viable. Spectators
outside the Members Reserve
deserved modern facilities in that
part of the Cricket Ground. For the
first time a modern dining room
will be serving the general public.
The Trust was confident too that,
having denied itself tax dollars for
more than a century, the project
would attract support from the
governments serving NSW. That
confidence was justified. On Day 3
of the Test Match, the Prime
Minister, the Hon John Howard,
MP, announced a Commonwealth
grant of $25 million towards the
construction costs. The Trust
has expressed its gratitude to
Mr Howard and his Government
for their generosity. I want to
thank the former Federal Minister
for Sport, Rod Kemp, for seizing
the moment at the AFL Grand
Final in Melbourne to invite the
Chief Executive Officer and myself
to apply for a grant.
Before the construction program
began, Trust debt stood at
$7.9 million.
Income from ground hire
was $9.2 million, compared
to $7.2 million in the previous
year. Membership subscriptions
generated revenue of $10.8 million
compared to $9.1 million in the
previous year. Membership sales
were strong. We believe the sales
reflect market confidence in the
Trust’s ongoing fixture programs
and amenities. Sales of Gold
Membership generated $4 million,
compared to $3.8 million in the
previous year.
Revenue from the rental of annual
private suites and corporate boxes
was $4.6 million compared to
$3.5 million in the previous year.
Marketing of suites and boxes and
the sale of premium public seating
for major events generated revenue
of $8.6 million compared to
$5.2 million in the previous year.
SYDNEY CRICKET & SPORTS GROUND TRUST
SCG12873_SectionA_24.08.07 15/10/07 1:30 PM Page 2
worth pursuing, provided always
staging sport takes primacy.
Special events augment significantly
Trust revenues so as to keep down
membership subscriptions. The
events are a stimulus to local
employment and the NSW and
Australian economies.
Following the success of his
remarkable concerts at Aussie
Stadium in 2003, Robbie Williams
returned with a breathtaking
performance in December 2006.
Each night was a record stadium
attendance. The Saturday night
performance set a new stadium
record of 52,650.
This year boxing returned
to Aussie Stadium, when the
mercurial Anthony Mundine
took on and defeated Danny
Green. The clash was amongst
the most highly anticipated boxing
events in decades. The attendance
was a record, television ratings
were huge.
Acknowledgements
The Trustees tried to acknowledge
the passing of those who had made
a significant contribution to our
grounds. Trustees observed silence
for the passing of Dick Dunn,
Rugby League player, coach and
administrator; Wallaby captain,
Trevor Allan; Stella Hills, widow
of Trust Chairman, Pat Hills.
I thank each of the Trustees for
their service, loyalty and their own
distinctive contributions. We work
together to provide the highest
standard of facilities and services
to serve sport in this state.
I acknowledge the contribution of
my Deputy, John Cloney, who also
serves as Chairman of the Finance
Committee. I thank John for his
tireless support and wise counsel.
I thank our Chief Executive Officer,
Jamie Barkley for his work across
a remarkable range of demands.
Through Jamie I thank his senior
managers, the staff of the Trust
and all of the Event Day Staff.
I congratulate Geoff Lawson OAM
and Ken Catchpole OAM on their
re-election by the Members for
another four year term.
RODNEY CAVALIER, AO
Chairman
CHAIRMAN’S REPORT
CONTINUED
4 06/07 ANNUAL REPORT 5
launch of after-match drinks for
Country Members (including a
talk from one of their own, Doug
Walters), cricket clinics for Junior
Members, a commemorative photo
for 70-year Members on the SCG.
The Village Green – which some of
us remember as SCG No 2 – now
has a gigantic marquee. It was a
facility of considerable value when
the heavens opened on the first
morning of the Test Match.
Demand for the Members Test
Match Breakfast was such that we
staged a second and sold it out.
Our Sports Partners
The Sydney Swans went within one
point of winning two premierships
in a row. Nine games were played
at the SCG. Their match against
the Carlton Blues on Sunday
3 September saw the Sydney
Swans win by 92 points.
While the Sydney Swans were
disappointed with their one point
Grand Final loss, they were able to
celebrate Adam Goodes Brownlow
Medal win for the second time
in his career.
The NSW Waratahs just missed
out on hosting a semi-final at
Aussie Stadium. With everything
depending on a win in the final
round, the NSW Waratahs lost to
the Hurricanes in front of 37,042
fans. Home attendances were
strong for the NSW Waratahs.
The average home crowd was
25,079. A stalwart in Chris
Whittaker retired at the end
of the season. The Club Rugby
Grand Final was again staged
at Aussie Stadium in September,
with Sydney University winning
16–10 over Randwick.
The 2005 Ashes series in England
created expectations that were
always likely to overshadow the
reality of 2006-07. England did not
once play with the determination of
2005, not once did they stare down
an emphatic Australian effort to
take the initiative.
The Test Match finished before
lunch on the fourth day. 170,168
spectators attended the SCG.
Those present saw the farewells
of Shane Warne, Glenn McGrath
and Justin Langer.
The SpeedBlitz Blues again
performed strongly in domestic
competitions. Four games were
played at the SCG with the Blues
drawing three and losing one.
Sydney FC again finished in the top
four. Their home semi-final victory
against the Newcastle Jets at
Aussie Stadium was not enough to
secure a path into the grand final.
February 2007 saw the Inaugural
Foundation Cup between the
Sydney Roosters and Wests Tigers.
The event has taken its place as
a major occasion in the rugby
league calendar.
Aussie Stadium hosted three
games in the NRL Telstra
Premiership finals series in
2006. St George Illawarra Dragons
played Manly Warringah Sea
Eagles. The Dragons ended
the gallant Sea Eagles year.
The Brisbane Broncos defeated
the Newcastle Knights in the
second. The Broncos achieved
a remarkable comeback victory
against the Canterbury Bulldogs in
the preliminary final after trailing
20-6 at half-time.
Commercial Operations
Concerts, tattoos and special
events place heavy demands
on our grounds and staff. Their
staging is not always a comfortable
distance to a scheduled sporting
event. The returns to the Trust
make these occasional events
SYDNEY CRICKET & SPORTS GROUND TRUST
SCG12873_SectionA_24.08.07 15/10/07 1:30 PM Page 4
International Cricket
Yet again, the SCG played a
special role in the history of
international cricket, hosting the
fifth Ashes Test Match and three
One Day Internationals, as well
as a Twenty20 International –
a first for Sydney.
With the tremendous build up
following the 2005 Ashes series
in England, the Australian team
created history by winning the
SCG Test Match and claiming a
5–0 series win for the first time
since 1921.
Although finishing before lunch
on Day Four, 170,168 cricket fans
attended the SCG to see Australia
win and to witness Shane Warne
play his last game for Australia.
One of NSW’s favourite sons,
Glenn McGrath, and record breaking
opening batsman, Justin Langer
also retired from Test cricket,
making the lap of honour a special
occasion for all in attendance.
Off the field, extra seats and
activities allowed Members and
patrons to enjoy better service
and amenities than ever before,
further enhancing the SCG’s
reputation as the spiritual
home of cricket in Australia.
The One Day Internationals and
Twenty20 International were
tremendously popular with over
146,000 people attending the
shorter versions of the game.
Unfortunately, Australia lost
the second final at the SCG to
a resurgent England team, but
provided a great spectacle in the
historic Twenty20 International.
NSW Cricket
The Speedblitz Blues again
performed strongly in domestic
competitions, being close to the
top of the table in the Pura Cup.
The Blues played four home
Pura Cup games at the SCG,
drawing three and losing one.
Two Ford Ranger Cup games
were played, with the Blues
winning one and losing one.
SCG Country Cup
The SCG Country Cup provided
an outstanding opportunity for
country cricketers to show their
skills with Merewether Cricket
Club and Tamworth District
Cricket Association winning
their way through to the final at
the SCG on Sunday 4 February.
Merewether were the victors
by 42 runs.
MANAGING THE EVENTS
CRICKET
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Sydney Swans
Falling just short of a remarkable
double, the Sydney Swans had
an outstanding season losing
by one point in the Premiership
decider against arch-rivals the
West Coast Eagles.
While the Sydney Swans were
disappointed with their one point
Grand Final loss, they were able to
celebrate Adam Goodes Brownlow
Medal win for the second time in
his career.
After winning only one of their
first four games, the Sydney
Swans bounced back to win
six successive matches before
a narrow loss of two points to
the St Kilda Saints in round 11.
A strong performance against the
Richmond Tigers at the SCG in
round 16 saw the Sydney Swans
maintain 7th position with six
rounds to go.
Round 16 also marked the 25th year
in Sydney for the Sydney Swans.
The pre-match entertainment
featured players from the original
Sydney Swans team who played
their first match against the
Melbourne Demons at the SCG
in 1982.
During 2006, nine games were
staged at the SCG, with an average
attendance of 31,546. The Sydney
Swans performed well at their home
ground, winning five of these games.
The highlights throughout the
year were many, with 38,371 fans
attending the game against
Richmond on Saturday 22 July.
MANAGING THE EVENTS
AFL
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NSW Waratahs
Coming off the back of an
outstanding 2005 season reaching
the final of the Super 14 competition,
the NSW Waratahs were again
a force in 2006.
Six games were played at Aussie
Stadium; with the NSW Waratahs
performing exceptionally well at their
home ground winning five games.
Overall, attendances were again
strong at Aussie Stadium for
NSW Waratahs games, with an
average home crowd of 29,930.
The NSW Waratahs narrowly
missed out on hosting a semi-
final at Aussie Stadium, losing in
the final round to the Hurricanes
in front of 37,042 fans.
Chris Whittaker, NSW Waratahs
captain and Australian Wallaby
retired following the 2006 season.
In-bound Tour
NSW Waratahs and New Zealand
Maori played an in-bound tour
match at the SCG on Friday 2 June,
bringing their 2006 season to an
end. The Maori outscored the
home side three tries to one with
a try two minutes from full-time
securing their 20-16 victory.
Rotomahana Challenge
The NSW Waratahs kick-started
their 2007 season with a 17-12 win
against the Canterbury Crusaders in
the annual Rotomahana Challenge
on Thursday 25 January at Aussie
Stadium. After losing last years
match by two points, the NSW
Waratahs were eager to square
the Rotomahana Challenge ledger
and win back the trophy.
Club Rugby
The Club Rugby Grand Final was
again staged at Aussie Stadium,
the home of rugby in September,
with Sydney University winning
16–10 over Randwick.
MANAGING THE EVENTS
RUGBY UNION
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Sydney Roosters
The Sydney Roosters showed
glimpses of promise and recorded
some strong wins at Aussie
Stadium, with over 136,000 fans
attending during the 2006 season.
This season marked the start
of a new era, with a new coach,
new signings and new 12 year
deal with the Trust that will see
the Sydney Roosters move all
of their football and front office
operations to Aussie Stadium.
The club also celebrated its
centenary year in 2007 with
celebrations held at home games
and a special commemorative
jersey to be worn by the players.
The Sydney Roosters secured
their first major signing in late
July 2006 to mark the club’s
100th season. Queensland State
of Origin and Bulldog forward
Nate Myles signed with the
club for three years.
ANZAC Day
The annual clash between
the Sydney Roosters and the
St George Illawarra Dragons was
played on ANZAC Day. The event
proved popular, with a crowd of
over 30,000. This event is now
one of the signature events of
the NRL Telstra Premiership.
NRL Finals Series
Aussie Stadium hosted three games
in the NRL Telstra Premiership finals
series in 2006. St George Illawarra
Dragons v Manly Warringah Sea
Eagles being the first, the Dragons
ending the gallant Sea Eagles year.
The Brisbane Broncos defeated
the Newcastle Knights in the
second and the Broncos achieved
a remarkable comeback victory
against the Canterbury Bulldogs
in the preliminary final after
trailing 20-6 at half-time.
Close to 83,000 fans attended
the finals series, reinforcing
Aussie Stadium’s status as the
number one rugby league venue.
Manly Warringah Sea Eagles
Manly Warringah Sea Eagles played
a Grand Final replay at the SCG
against their arch-rivals Parramatta
Eels in April. The game marked
the 30th anniversary of Manly’s
win over Parramatta in 1996.
The game was a memorable one,
with a field goal in extra time to the
Sea Eagles Matt Orford to clinch
a 23-22 win in front of 19,208 fans.
Foundation Cup
February 2007 marked the
inaugural Foundation Cup
between two foundation clubs –
the Sydney Roosters and Wests
Tigers. The concept, developed by
the Trust and the two clubs as a
season opener, saw 16,198 eager
fans file through the turnstiles.
The Sydney Roosters won 10-4.
The success of this event will see
the Foundation Cup staged at
Aussie Stadium each year.
Tri Nations
Aussie Stadium hosted a pool game
and the final of the Tri Nations
Rugby League series in November.
The opening game against Great
Britain on Saturday 4 November
attracted 24,953 fans and the final
against New Zealand on Saturday
25 November, just under 28,000.
With scores locked at full-time,
the final was forced into extra
time. Despite several field goal
attempts by both teams it was
Trust Ambassador and Australian
skipper Darren Lockyer who
scored a runaway try in the
second period of extra time,
sealing a 16-12 victory.
MANAGING THE EVENTS
RUGBY LEAGUE
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Sydney FC
Sydney FC started the second
year of the A League as premiers;
with a new look team and a new
coach in Terry Butcher.
Sydney FC began their A-League
title defence on Sunday 27 August
triumphing 1-0 against Central
Coast Mariners in a Grand Final
replay at Aussie Stadium.
Despite being plagued with
injuries in the first half of the year,
Sydney FC performed strongly
at home finishing in the top four.
Of the 10 home games played
at Aussie Stadium, Sydney FC
won five and drew three.
Their home semi-final victory
against the Newcastle Jets at
Aussie Stadium was not enough to
secure a place in the Grand Final.
The attendance for the season
totalled 171,108, firmly positioning
Sydney FC on the Sydney sporting
event calendar.
Asian Cup QualifyingFixtures
Aussie Stadium hosted two
Socceroos Internationals against
Kuwait and Bahrain in 2006.
The match against Kuwait was
the first for the Socceroos after
their outstanding efforts in the
2006 FIFA World Cup in Germany.
The fans showed their ever
increasing appreciation for the
Socceroos with close to 70,000
attending the two games.
Having won both matches,
the Australian team secured the
top position in their Asian Cup
qualifying group. Australia then
went on to join 15 other teams
to play for the Asian Cup in July.
MANAGING THE EVENTS
FOOTBALL
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Boxing
Anthony Mundine v Danny Green
History was created at Aussie
Stadium in May 2006 with its
first ever boxing event between
Anthony Mundine and Danny Green,
demonstrating the Trust’s ability
to attract and manage a major
sporting event of this type.
The Aussie Stadium arena
was transformed with the ring
positioned in the centre of the field.
10,000 boxing aficionados enjoyed
ringside seats and fine dining.
Over 30,000 fans cheered loudly
creating an atmosphere which will
forever be a part of Australian
sporting folklore.
The clash was one of the most
highly anticipated boxing events
in decades, drawing a record
attendance and massive
television ratings.
Anthony Mundine proved too classy
for Danny Green on the night and
after the full twelve rounds, secured
a unanimous points decision.
Concert
Robbie Williams
Following his remarkable
concerts at Aussie Stadium
in 2003, Robbie Williams again
returned with a breathtaking
performance in December 2006.
History was created two nights
running, with record stadium
attendances. The Saturday night
performance set a new stadium
record of 52,650.
The stage lighting and sound set up
for the concerts was the biggest
ever staged at our venues with
over 70 shipping containers of
equipment painstakingly erected
inside the stadium.
Robbie greeted the sell out
crowds at Aussie Stadium
by bursting onto the stage
in a blaze of pyrotechnics.
Williams did not disappoint his
Sydney fans as he sang a string
of his classic hits along with
some new releases from his
latest album.
MANAGING THE EVENTS
SPECIAL EVENTS
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In 2006/07 the Trust funded the
largest Capital Works Program
totalling $19.5 million since the
construction of Aussie Stadium
(Sydney Football Stadium) which
was completed in 1988.
Catering and FunctionArea Improvements
Several projects totalling
$3.25 million were completed
over the last 18 months:
• Churchill Dining Room
• Club SCG in the
Churchill Stand
• NSW Cricket Club membership
in the Bradman Stand
• Azure
• Aussie Stadium eastside
concourse project redeveloped
back of house areas into two
new food outlets, Hot Wok and
Mama Leone’s, and a new bar
constructed and fitted out.
• Catering infrastructure:
register and IT system upgrade,
coolrooms and bars and
transport vehicles.
NSW Rugby Centre of Excellence
Construction of the new home
for NSW Rugby is well advanced.
Works commenced in July 2006
and occupation by the players will
commence mid 2007. The $6 million
facility was designed to cater for
all facets of Rugby’s operations
in NSW. Team specific spaces
will be located on the ground floor,
including gymnasium, medical and
treatment rooms, change room and
locker facilities, meeting rooms,
lecture theatre/media conference
room, players lounge and kitchen.
Level one will accommodate
the NSW Rugby’s Sydney based
administration with space for
over 60 staff. This level will
also include a fully equipped
boardroom, meeting rooms
and dedicated IT and video
analysis facilities.
Aussie Stadium Seating Increase
The seating capacity at
Aussie Stadium was increased
by 3,112 seats at a cost of
$4.6 million. The project was
constructed in five stages to
accommodate the event schedule
from May 2006 to February 2007.
Aussie Stadium Second Video Screen
A second full colour video screen
was installed at the southern end
of Aussie Stadium at a cost
of $1 million. Works included
an auxiliary amber single line
scoreboard below, screen enclosure,
enlarged screen/PA control room
and associated equipment
replacements and upgrades.
Other Works
• SCG Flood Lighting Upgrade:
Stage 2 works were completed
with the installation of new
sub-stations. New headframes
and a new sports lighting
system will complete the
upgrade in 2007.
• Heritage balustrades were
installed in the Members
and Ladies Pavilions.
• TV broadcast expansion and
renovations were carried out at
the SCG and Aussie Stadium.
• Aussie Stadium home
dressing room was enlarged
and renovated.
• SCG Projects for the
International Cricket Season
included the installation of
297 additional seats into the
Members Reserve and 285
in the public areas.
MANAGING THE ASSETS
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SCG12873_SectionA_24.08.07 15/10/07 1:31 PM Page 18
The Ashes Test Match was played
on pitch number three and was
considered the best pitch prepared
for several years. The 2006/07
cricket season included a heavy
schedule of 50 days. With no state
final matches played at the SCG
and some matches completed
in fewer days, the season was
reduced to 24 matches played
over 43 days.
MANAGING THE ASSETS
CONTINUED
20 06/07 ANNUAL REPORT 21
Looking Ahead – NewSCG Hill Grandstand
In 2008 a new grandstand will
complete the evolution of the
Hill from sandhill to terrace
to grandstand; a $76 million
redevelopment project.
The project involves the removal
of all existing structures located
between the eastern end of the
Clive Churchill Stand and the
southern end of the Bill O’Reilly
Stand. The new Hill Grandstand
will have a similar design to the
existing Churchill and Brewongle
Stands, providing seating for
patrons over three levels.
The construction of a new
grandstand on the Hill will provide
much needed improvements
to existing facilities at the SCG.
It will meet the objectives of
the Trust to provide world-class
spectator facilities and increased
spectator capacity.
Facilities include:
• Approximately 2,800 additional
seats will increase the SCG’s
capacity to almost 47,000.
• Over 8,000 seats will be
undercover with direct access
to all facilities.
• The grandstand will include
outstanding dining and
function rooms.
• A modern forecourt entrance
on Driver Avenue will provide
spectators with fast entry via
escalators and easy access
to their seats.
• A new second video scoreboard
will be located in the Clive
Churchill Stand ensuring the
spectators do not miss any of
the action. The existing video
scoreboard will be relocated
to the top of the Dally
Messenger Stand.
• A new outdoor food court
will be available for patrons
to enjoy, enhancing their
match day experience.
SCG Playing Field
The 2005/06 cricket season ended
with the last match played on
Monday 13 March. Renovation
works commenced immediately
for the 2006 AFL season. The
preparation works ensured that
the wicket square and outfield
were in excellent condition for the
first AFL game, Sydney Swans v
Port Adelaide on Sunday 9 April.
In addition to the Sydney Swans
normal season, the SCG hosted
an NRL game, Parramatta Eels
v Manly Warringah Sea Eagles
on Sunday 30 April and a Rugby
Union game, NSW Waratahs v
New Zealand Maori on 2 June.
On completion of the AFL season,
renovations included some minor
turf replacements and the
eradication of the wintergrass.
The wicket square was closely
monitored with the Ashes Test
Match ahead. Pitch five and eight
had significant wear and required
maintenance. The centre wicket
area for the first time in many
years did not require returfing.
SYDNEY CRICKET & SPORTS GROUND TRUST
Aussie Stadium Playing Field
The playing surface of Aussie
Stadium was in excellent condition
for the commencement of the
2006 Super 14 season.
In past years, a period of some
10-12 weeks was available to
complete annual renovation works
and establish a playing surface
for the following football season.
The introduction of Sydney FC into
the Aussie Stadium annual event
schedule reduced this available
period to approximately five weeks
from Saturday 3 December 2005
to Friday 6 January 2006.
As a result, a no risk approach
was adopted and the playing field
is returfed on an annual basis.
Much work was undertaken
throughout 2005 to ensure
suitable turf was available from
the Trust’s contract turf supplier.
The major 2006 renovation included
the replacement of 8700m2 of turf
carried out in a record time of
six days. Works commenced on
Friday 15 December, the day after a
Sydney FC game and four days after
the second Robbie Williams concert.
Works were completed on
20 December 2006 and Sydney FC
played their first game for 2007 on
the Sunday 7 January. On completion
of the seating expansion program
in February, the perimeter turf
areas of the ground were returfed.
The field was in good condition
for the start of the NSW Waratahs
season and the NRL Foundation
Cup between the Sydney Roosters
and Wests Tigers.
SCG12873_SectionA_24.08.07 15/10/07 1:31 PM Page 20
Strategic AssetManagement Plan
The Trust 10-year Strategic
Asset Management Plan (SAMP)
has been prepared in accordance
with State Government guidelines.
It contains asset management
strategies, compliance and
condition assessment results
and life cycle costings. The asset
management strategies have
been linked to the Trust’s service
delivery objectives to achieve
desired service levels and to
manage costs efficiently.
The plan was updated in
September 2006. The following
SAMP projects were included in the
2006/07 Capital Works Program:
• Lift Upgrade Program:
new goods lift installed in
the MA Noble Stand to service
the main kitchen ($180,000)
• Completion of fire
detection and early warning
intercommunication system in
the Brewongle Stand ($280,000)
• Toilet Upgrade Program:
new accessible toilet installed
in the Kippax Carroll Room and
general upgrades ($50,000)
• The annual replacement of
major plant and equipment
including grounds machinery,
IT equipment, televisions,
furniture and catering
equipment ($325,000)
• Floor finishes program ($40,000)
• Air conditioning program
($80,000)
• Structural rectification program
($100,000)
• CCTV and MATV replacement
and upgrade programs
($110,000)
• Resurfacing of tennis courts
three and four ($40,000)
WRAPP
The Trust Waste Reduction and
Purchasing Plan (WRAPP) was
submitted to the Department of
Environment and Conservation
in 2005. An update is scheduled
to be submitted in 2007. WRAPP
strategies implemented by the
Trust include waste minimisation,
recycling systems, increasing
purchases of recycled-content
material, and increasing staff
awareness of best practice waste
management and purchasing.
Occupational Health and Safety (OH&S)
The Trust actively seeks to
promote and maintain a safe
environment for all staff and
visitors. Representatives from
each Trust department and
permanent contractors onsite
meet bi-monthly to review safety
issues and/or incidents that may
possibly arise or have occurred
on event and non-event days.
On alternate months the
committee conducts an inspection
of a designated area on site
to establish and rectify any
potential OH&S risks. All
minutes and reports from OH&S
committee meetings are available
for staff on staff notice boards
and are presented to the Trust
through the Grounds and Event
Services Committee.
MANAGING THE ASSETS
CONTINUED
22 06/07 ANNUAL REPORT 23SYDNEY CRICKET & SPORTS GROUND TRUST
The Trust supports the OH&S
committee in keeping up-to-date
with the policies and procedures
that affect the wellbeing of staff
and patrons. The Trust actively
encourages staff training to
facilitate a greater level of
awareness of risk and safety
through courses such as: Senior
First Aid, Safe Manual Handling,
and First Attack Firefighting.
The small number of workplace
injuries resulting in workers
compensation claims in the last
financial year reflects the value
and effectiveness of the committee.
At the beginning of 2006, the Trust
conducted an OH&S audit and
commenced the implementation
of a site wide OH&S Plan. This is a
two year project and is essential for
the Trust to establish a compliant
OH&S plan.
Heritage AssetManagement Strategy
The Trust prepared a Heritage
Asset Management Strategy (HAMS)
in accordance with the requirements
of the Heritage Act 1977 (NSW).
Section 170 of the Heritage Act
requires all state agencies to
prepare HAMS to provide a
framework for protecting and
maintaining heritage items under
their custodianship, along with
information on required processes
and priorities, towards the
establishment of a Section 170
Register for each state agency.
The report to be submitted to
the Heritage Office early in 2007,
will include:
• General context and
information regarding the
SCG, its size and location,
the history of the Trust, its
management context, heritage
listings and existing asset
management structure.
• A summary history of the SCG,
a statement of significance for
the SCG and a description of
the range of heritage assets
within the SCG.
• The key principles that will
guide the management by
the Trust of the SCG and its
heritage assets in particular.
• The Key Action Plan with
explanatory text. The plan
presents, in a concise tabular
format, the content of the
HAMS as a tool for identifying,
planning and managing the
SCG’s heritage assets.
SCG Museum
Refurbishment of the SCG Museum
including a complete overhaul
of the exhibition content and
presentation, was the main focus
for 2006. New interior finishes and
modern show cases have made
many articles more accessible, and
produced an improved, cohesive
display. Feedback on the project,
which cost over $70,000, has been
positive, especially from donors.
Acquisitions from sports players,
Members and the general public
continue to add to the historical
value of the collection.
Almost 40 oral history interviews
have now been conducted, spanning
players, Trust employees and
spectators. Some subjects recalled
sporting events from the 1920s
and 30s, with their perspective
providing valuable insight into
the history of the site.
SCG12873_SectionA_24.08.07 15/10/07 1:31 PM Page 22
COMMERCIAL AND OPERATIONS
24 06/07 ANNUAL REPORT 25
Security & Access
Security and access again
maintained a high level of focus
for the Trust throughout 2006/07.
As a high profile venue and
a Member of the Government’s
Critical Infrastructure Group,
the Trust has reinforced security
measures during event and
non-event modes.
Emergency management has
played a key role in this aspect of
our operations, with a full review
of the Trust’s emergency plan
conducted and implemented
throughout the year.
SYDNEY CRICKET & SPORTS GROUND TRUST
Human Resources
The Trust currently employs 91 full-time staff in the following departments.
Feb 06 Feb 07
FTE Employees FTE Employees
Executive Staff 6.00 6 7.00 7
Administration 5.00 5 4.65 5
Commercial & Operations 17.42 18 17.28 18
Business Development 8.60 9 9.00 9
Corporate Services 9.04 10 10.98 13
Properties 28.53 30 28.60 30
Marketing & Membership 29.16 29 31.52 66
103.75 137 109.03 148
The breakdown of employees at 28 February 2007 was:
Full-time Part-time Casual FTE Total Employees
91 12 42 109.03 148
2006 2007
Executive Remuneration Male Female Male Female
Number of Executive Officers
with remuneration equal to
or exceeding equivalent of
SES Level 4 5 – 6 –
Number of Executive Officers
with remuneration equal to
or exceeding equivalent of
SES Level 5 1 – 1 –
82 major event days and
nearly 1.6 million patrons
attended our venues.
Service Providers
All Leisure Hospitality
The Compass Group (trading as
All Leisure Hospitality) commenced
its second five year term as the
Trust’s exclusive catering services
provider in 2006.
All Leisure performed well under
difficult circumstances with
outstanding results at international
cricket and special events such
as the Anthony Mundine v Danny
Green boxing event with 1,440
meals served on the arena.
Ticketing
Ticketek Pty Limited expanded its
partnership with the Trust through
the provision of ticketing services
across both venues for the patrons
that attend events.
Ticketek’s proven track record
in ticketing expertise came to the
fore with the web-based Ezyticket.
It proved popular with fans able to
enjoy the convenience of purchasing
and printing tickets for events at
Aussie Stadium and the SCG in the
comfort of their home or office.
Merchandising
In 2006 the Trust conducted a
tender process for the provision
of merchandising services.
The Trust’s existing partner Playbill
Pty Limited was successful in the
tender process, signing a new
exclusive merchandising agreement
for a period of five years.
The new agreement will include
additional outlets and a new look
retail store on the forecourt of
Aussie Stadium providing hirers
and patrons with enhanced
services. The Trust looks forward
to a continuation of its strong
relationship with Playbill.
Cleaning
With 82 event days and over
1.5 million fans attending,
the huge task of cleaning and
waste management was
undertaken by ISS Facility
Services (ISSFS).
ISSFS and its dedicated staff
worked diligently to ensure that
the SCG and Aussie Stadium were
presented at the highest standard.
Traffic, Transport & Access
With improved planning and
communication processes in
place, traffic, transport and
access services for Trust
venues improved in 2006.
These processes, lead by the
NSW Premier’s Department
create a strong foundation for
future improvements in this area.
In conjunction with the NSW
Government, short, medium
and long-term strategies
have been identified and
include integrated ticketing,
pre booked parking, temporary
road closures and improved
access for public transport.
Event Attendances
1 March 2006 – 28 February 2007
SCG and AUSSIE STADIUM
International Test
Match Cricket 170,168
One Day
International Cricket 111,273
Twenty20
International Cricket 35,628
NSW Speedblitz Blues 32,870
Sydney Swans 283,917
NSW Waratahs 200,635
Club Rugby Grand Final 8,225
NRL Finals Series 82,499
Asian Cup
Qualifying Games 69,268
Sydney Roosters 136,027
St George
Illawarra Dragons 31,105
Manly Warringah
Sea Eagles 19,208
Foundation Cup 16,198
Tri Nations 52,278
Sydney FC 171,108
Boxing Event 30,000
Robbie Williams Concert 105,074
SCG & Aussie Stadium
Totals 1,555,481
Stadium Fitness Centre
Totals 214,443
SCG12873_SectionA_24.08.07 15/10/07 1:31 PM Page 24
MARKETING AND MEMBERSHIP
26 06/07 ANNUAL REPORT 27
Events
The Trust continued to develop
a range of match day and non-
match day events and activities
for Members.
The 2007 Ashes Test Match saw
the launch of several new Member
initiatives including Country
Members Drinks, Junior Member
cricket clinics, a 70-year Member
commemorative photo on the
SCG, an expanded Village Green
marquee and an additional
Members Test Match Breakfast.
At Aussie Stadium, the League
Latest and Rugby Roundup post-
match functions continued to
provide Members with additional
complimentary activities to
enhance their event experience.
On non-match days the Trust held
a range of activities for Members
including golf days, Christmas
parties and the Bradman
Foundation Gala dinner.
Reciprocal Rights
The Trust secured additional
reciprocal rights at other venues
and sporting grounds including
M. Chinnaswamy Stadium in
Bangalore in India, Eden Park
in Auckland, New Zealand and
Queen’s Park Cricket Club,
Port of Spain in Trinidad, West
Indies which provides Members
with opportunities to visit
international grounds.
Liaison Officers
Members Liaison Officers
were introduced during the 2007
International Cricket Season
at the SCG providing Members
with an increased level of
customer service. For the first
time a reserved seating ballot
was implemented for Members,
with 91 per cent of requests
accommodated.
Subscriptions
Membership Services recently
implemented new technology
in the form of automated pay-
by-phone subscription system,
allowing Members to pay
their fees.
Communication
The Trust continually strives
to provide accurate, current and
specific information to Members
on a regular basis through a range
of targeted communication
mediums such as:
• Trust News
Placed in the Sydney Morning
Herald on the first Saturday of
each month.
• Around the Grounds
Members bi-annual magazine
segmented into distinct SCG
and Aussie Stadium sections.
• What’s on When fixture
card listing all SCG and
Aussie Stadium events
for the coming season.
• Regular Members email alerts
Segmented into three main
categories based on
membership types. Gold
Member E-News, SCG Member
E-News and Trust E-News.
• Trust Website
Distinct SCG and Gold
Member sections on the
new Trust website.
• Electronic signage board
Installed at venue services.
Surveys
Membership Services conduct
regular online surveys following
key events to keep in touch with
Members feedback on services
and facilities. This research
enables benchmarking of the
Trust’s performance across key
categories, with recommendations
for improvement.
Venue Services
Venue Services continues to
enhance membership through the
efficient delivery of services and
programs to Members. The Venue
Services office manages a Ticketek
agency, general enquiries and
sale of merchandise in addition to
daily bookings for tennis, squash,
swim school, crèche and the SCG
Tour Experience.
The installation of state-of-the-art
electronic signage in the Venue
Services foyer has improved
communication to Members by
displaying daily corporate functions,
important Member notices and
coming event information.
SYDNEY CRICKET & SPORTS GROUND TRUST
SCG Tour Experience
The SCG Tour Experience is an
interactive behind-the-scenes
excursion through the SCG and
Aussie Stadium. Several marketing
strategies were implemented,
which resulted in a 25 per cent
increase in tour participation
compared with the previous year.
Stadium Fitness Centre
Australia’s premier health,
lifestyle and recreational facility
continues to expand with a record
usage of 210,000 visits in 2006.
The area comprising of spa
and sauna facilities now also
includes a steam room which
provides another health option
for Members.
In an effort to maintain the
highest water quality, the Stadium
Fitness Centre pool was equipped
with a new plant room which
includes a digital automated
dosing system and use of
granulated chlorine.
The Stadium Fitness Centre’s
fully qualified staff continue to
provide the highest standard of
services to Members and their
guests in personal training,
program design, fitness
assessments, swim school,
tennis/squash coaching, group
fitness classes, massage
and crèche services.
Azure
Gold Members and their guests
can now enjoy a new dining
experience with the recent
opening of Azure. Members can
supplement their training with
a range of meals from the new
‘health conscious’ menu or
simply relax in the lounge area
with a freshly brewed coffee.
SCG12873_SectionA_24.08.07 15/10/07 1:31 PM Page 26
Gold & CorporateMembership Sales
Gold membership sales
increased with the continuation
of the Member-get-Member
and Member Upgrade program.
The Trust focused on offering
Members opportunities to
upgrade their membership status
or introduce their friends and
colleagues to the benefits of Gold
and/or Corporate membership.
Building relationships with
strategic commercial partners
to provide quality incentives and
rewards for new and upgrading
Gold and Corporate membership
was critical to the success of
these campaigns.
The Trust conducted a public
Gold membership campaign with
the creative featuring high profile
Gold Members. This resulted
in widespread positive brand
recognition throughout the cricket
season and continued to drive sales
throughout the summer months.
BUSINESS DEVELOPMENT
28 06/07 ANNUAL REPORT 29
Sponsorship, Exclusive Supply andAdvertising Rights
The Trust’s advertising and
sponsorship program continues
to generate significant income
from the corporate sector. In the
last financial year, as a result
of this support and the work of
our sales partner Moore Sports
Advertising, the Trust achieved
results in line with its strong
revenue forecasts.
The Trust is fortunate to have
continued its strong partnerships
with Aussie Home Loans,
Foster’s Australia, Coca-Cola
Amatil, Fairfax, Ticketek, the TAB,
the Motor Accidents Authority,
Qantas, UD Trucks, Gray’s
Online and Campbell’s.
The quality and quantity of
corporate clients who have
invested in Trust packages
is a positive reflection of our
competitive price structure
and the return on investment.
In keeping with our desire to
establish long-term partnerships,
the Trust is conscious of its need
to offer the market valuable
opportunities, brand growth,
revenue returns and promotional
development. With this in mind we
are developing a small range of
premium products offering further
official rights and exclusivities
that we hope to introduce to
the market place during 2007.
Hospitality
SCG
Not surprisingly the 2006 hospitality
program was strongly influenced by
the highly anticipated International
Cricket Season. Although not
quite living up to the competitive
expectations on the field,
exceeded even our most ambitious
expectations off the field, with
returns to the Trust and our partner
Cricket NSW well ahead of forecasts.
The unprecedented number of
hospitality clients at the SCG for
the Ashes Test Match provided us
with an opportunity to thoroughly
research the expectations and
experiences of corporate patrons,
both hosts and guests, throughout
the International Cricket Season.
The survey results were very positive
and included some interesting
suggestions, which will assist us
to further refine and develop our
hospitality products.
The strength of the SCG schedule,
the success of our resident teams
and the interest in the International
Cricket Season, drove the sale of
annual facilities to results not
achieved at the SCG in recent times.
The supply of SCG suites available
for casual AFL packages was
limited due to the increase in
annual suite sales. Club SCG
was fully subscribed however it
became evident that the take up
of allowable guest passes for the
AFL was minimal. This created
an opportunity to capitalise on the
success of the Sydney Swans and
sell casual packages into Club SCG
throughout the latter part of winter.
Aussie Stadium
Hospitality sales for the NSW
Waratahs continued to do well
in 2006. The strong interest in
the Super 14 matches at Aussie
Stadium together with the quality
of the packages offered and
convenient scheduling, combined
to achieve a result just shy of
challenging forecasts.
The sale of annual facilities
at Aussie Stadium was strong
throughout 2006. The portfolio
of premium teams and variety of
quality events over the course of
a year represented good value to
corporate clients. Other premium
inclusions within the annual
packages further increased their
appeal and translated into growth
in both annual corporate boxes
and annual private suite sales.
Casual sales at Aussie Stadium
focused primarily on Rugby.
Casual enquiries for the Sydney
Roosters and Sydney FC were
directed in the first instance to the
relevant club. Both these Sports
Partners appreciated the support
given with this approach. The
change to the scheduling and
allocation of venues for the NRL
finals restricted the ability of
clients to take up series packages,
an area of sales which had always
done quite well previously.
The Tri-Nations Rugby League
tournament, the Mundine v Green
fight and the Robbie Williams
concerts provided substantial
upside to the sale of casual
packages at Aussie Stadium.
SYDNEY CRICKET & SPORTS GROUND TRUST
SCG12873_SectionA_24.08.07 15/10/07 1:31 PM Page 28
BUSINESS DEVELOPMENT
CONTINUED
30 06/07 ANNUAL REPORT 31
Media and PR
The iconic regard for the SCG
and Aussie Stadium was strongly
upheld by the media and national
corporate PR offices during the
past year with over 50 launches,
media shoots and media
conferences staged in addition
to regular event day sports media
conferences and live TV and
radio event day news broadcasts.
The choice to stage these events
at the SCG and Aussie Stadium
continued to maintain the profile,
public presence and strong
branding of our venues. The
venues appeal and diversity
expanded beyond the traditional
sports market with product
launches, health announcements
and travel TV segments all being
conducted on site.
The enhanced and upgraded press,
radio and TV facilities at Aussie
Stadium was favourably received
by media representatives from
all sports codes while the SCG’s
cricket media operations were
regarded as the best in Australia
by seasoned reporters.
The international summer
of cricket, which featured the
fifth Ashes Test Match, was
the highlight of the past year.
Considerable time and resources
were devoted towards media
planning, management and
implementation. The Trust worked
closely with Cricket Australia,
Cricket NSW, the English Cricket
Board and electronic media
broadcasters to ensure key
messages were effectively
conveyed to the public and all
media facilities were of the
highest order.
The world’s media focused on
the historic nature of the fifth
Ashes Test Match and the SCG’s
majestic appearance was carried
across the globe through expansive
TV and still images when Glenn
McGrath, Shane Warne and Justin
Langer closed their Test careers
on the final day’s play. These
images further underlined the
popular view that the SCG is one
of world’s best cricket grounds.
Given the busy and high profile
nature of the SCG and Aussie
Stadium, an overarching Media
Policy, Protocols and Guidelines
document was developed to allow
media related matters to be
handled swiftly, professionally and
accurately while promoting and
protecting the reputation of the
Trust, its officers, contractors
and Sports Partners.
The staging of the two Asian Cup
qualifying matches, two Tri Nations
rugby league matches, the Mundine
v Green fight, the inaugural
Foundation Cup rugby league
fixture and the two Robbie Williams
concerts ensured further additional
media focus on Aussie Stadium.
Two rugby league fixtures,
Manly Warringah Sea Eagles v
Parramatta Eels and Sydney
Roosters v St George-Illawarra
Dragons, plus the NSW Waratahs
in-bound international match
against the New Zealand Maori
SYDNEY CRICKET & SPORTS GROUND TRUST
were staged at the SCG and allowed
the Trust to further promote the
SCG’s proud history and heritage.
Functions & Community
The SCG and Aussie Stadium
continued to be sought after venues
for a variety of business events
such as meetings, awards nights,
press conferences, training days,
fundraising lunches and dinners.
The volume of capital works at
Aussie Stadium limited our ability to
maximise the interest in this venue
to the same extent as previous years.
Where possible, the Trust continued
to support worthy charities and
not-for-profit organisations.
Expressions of interest were
invited from Registered Charities
to become an Official SCG Trust
Charity for the next two years,
from July 2006 to June 2008.
The successful six charities for
preferred status are St Vincent
de Paul Society, Juvenile Diabetes
Research Foundation (JDRF),
Kidney Health Australia, Canteen,
Lupis Foundations of NSW and
Roden Cutler Charities.
In addition, the Trust supported
the Bradman Foundation,
Sony Foundation, Steve Waugh
Foundation, Cure for Life Foundation,
Breast Cancer Foundation,
LBW Trust Foundation, Sydney
Children’s Hospital Foundation,
Cancer Council, The Primary Club,
Lord Taverners, Surf Lifesaving
NSW and the Chris O’Neil Trust
amongst others.
The Harvey Norman Media
Challenge was held for the
second time at Aussie Stadium.
This touch football day involved
teams from all the major Sydney
media and advertising outlets.
Participating teams were allowed
to invite sports stars as team
members and the final was played
on Aussie Stadium. Over $100,000
was raised for the Leukemia
Foundation and organisers are
confident they can increase this
in following years.
SCG12873_SectionA_24.08.07 15/10/07 1:31 PM Page 30
CORPORATE SERVICES
FINANCIAL REPORT
32 06/07 ANNUAL REPORT 33
The Trust’s operations for the
financial year ended 28 February
2007 resulted in a profit
of $5.5 million, compared to
$4.7 million in the previous year.
The operating surplus was
transferred to retained earnings
which stood at $120.2 million
as at 28 February 2007.
Operating Income and Expenditure
The profit achieved in 2006/07
was better than budget, the Trust
continuing to improve its financial
position whilst undertaking an
extensive Capital Works Program
and maintaining a low level of
capital debt.
The marked increase to operating
revenue for 2006/07, $65.1 million,
compared to the previous year
$53.2 million (and the corresponding
increase to operating expenditure
– $59.6 million for 2006/07,
compared to the previous year,
$48.5 million) included the flow-
on effect upon major revenue
sources through the staging of
the highly attended International
Cricket Season, the Robbie
Williams concerts, the Mundine
v Green fight, and well attended
Sydney FC, Sydney Swans and
NSW Waratahs fixtures.
The results for the year reflect
increased event revenues, higher
catering revenue, increased
membership subscriptions, higher
Gold membership sales, higher
total annual box rentals, increased
advertising sales/product rights,
together with higher event
operating costs, higher staff
related expenses, increased
administrative expenses
(including purchase of Members
seating at the SCG and Telstra
Stadium), ground operation and
maintenance and depreciation.
The Trust’s successful financial
performance during 2006/07 was
achieved through the following
areas of operation:
Income from Ground Hiring
During 2006/07 the SCG and
Aussie Stadium hosted an extensive
program of events attracting over
1.5 million patrons.
Income from ground hire was
$9.2 million, compared to
$7.2 million in the previous year,
reflecting the staging of additional
major and well attended events.
The Trust holds long-term
contractual arrangements with
major ground hirers to provide
scheduling of a strong and broad
based program of events. Sports
Partners contracts are in place
with Cricket NSW, National Rugby
League, NSW Rugby Union, Sydney
Roosters, Sydney FC and the
Sydney Swans.
Members AnnualSubscriptions
Membership subscriptions
were higher in 2006/07, revenue
of $10.8 million compared to
$9.1 million recorded in the
previous year. Whilst membership
SYDNEY CRICKET & SPORTS GROUND TRUST
subscription rates were increased,
strong membership retention
levels reflect the broad range of
services and events available to
both Gold and SCG Members.
Membership Sales
Membership sales generated in
2006/07 were strong and reflect
market confidence in the Trust’s
ongoing fixture program and
amenities. Sales of new Gold
membership generated $4 million,
compared to $3.8 million in
the previous year.
Membership of the SCG continues
to be highly sought after with a
limited intake each year of new
Members from the waiting list.
Joining fees for new SCG
Members generated $552,000
compared to $585,000 in 2005/06.
Corporate Hospitality
The Trust markets various forms
of corporate facilities/packages
available for events at the SCG and
Aussie Stadium, including annual
private suites and corporate boxes,
and a comprehensive range of
seasonal and casual packages.
The Trust holds contractual
arrangements with Cricket NSW
and NSW Rugby for the exclusive
marketing rights for the sale of
corporate/premium packages for
International Cricket and Rugby
Super 14 fixtures. The Trust also
markets the sale of corporate
hospitality for Sydney Swans,
Sydney FC, Rugby League and
concert events.
In 2006/07 revenue from rental
of annual private suites/corporate
boxes was $4.6 million compared
to $3.5 million received in the
previous year. Marketing of
available suites/boxes on a
daily and seasonal basis, and
sale of allocated premium public
seating for major events, together
generated revenue of $8.6 million
compared to $5.2 million
received in 2005/06.
Advertising &Sponsorship Sales
The Trust contracts the sale of
advertising signage in the form
of scrolling signage, fence,
grandstand and video scoreboard
signage at the SCG and Aussie
Stadium, including product rights
at each facility.
Major signage/product rights
contracts are current with key
stakeholders including: Cricket
NSW, Sydney Swans, NSW Rugby,
Foster’s Australia, Coca-Cola
Beverages Pty Ltd, Ticketek
and Moore Sports.
Advertising and sponsorship
revenue generated $5.8 million
compared to $5.2 million in the
previous year. Product rights
increased sharply from $645,000
in 2005/06 to $2 million in the
current year.
Catering
The Compass Group (trading as
All Leisure) holds the exclusive
rights contract for food and liquor
catering at the SCG and Aussie
Stadium, having commenced
operations at the venues in
November 2000. The catering
contract extends to 2010.
The Trust’s net share of
catering sales (including
amortised contract premiums)
at the SCG and Aussie Stadium
was $4.1 million (food) and
$3.8 million (liquor), compared
to $3.8 million and $3.6 million
respectively in the previous year.
Investment ManagementPerformance
During 2006/07 available surplus
funds were invested with the
NSW Treasury Corporation
Hourglass facility. The Treasury
Hourglass return for the year
ended 28 February 2007 on the
Trust’s invested funds represents
the rate of 5.96% for that period.
Surplus funds were invested
for the short-term only. Interest
received on investments totalled
$488,000 as compared to
$312,000 in the previous year.
SCG12873_SectionB_24.08.07 15/10/07 1:35 PM Page 32
Administration andRelated Expenses
Administrative and related expenses
incurred during the past year totalled
$5.8 million compared to $4 million
in the previous year. The significant
increase for the current year
reflected a one-off purchase of
tickets for Gold Members to football
events at Telstra Stadium in the
final year of operation of the
scheme, together with expansion
of the Members Reserve seating to
accommodate demand during the
recent Ashes Series at the SCG.
Administrative expenditure
includes: consulting fees ($654,000
compared to $427,000), telephone
($262,000 compared to $252,000),
publications, printing & stationery
($801,000 compared to $916,000),
insurance costs ($587,000
compared to $675,000) and
finance costs including ratings
fees, debt management fees
($459,000 compared to $597,000).
Marketing/CorporateSeating Expenses
Expenditure upon marketing
including: advertising, promotion
and publications during 2006/07
was $1.8 million compared to
$1.7 million in the previous year.
Marketing expenditure was mainly
directed to promotion and marketing
of the SCG International Cricket
Season and other major events,
available Gold and SCG membership
places, available private suites,
premium seating for major events,
the SCG Tour Experience and
corporate function room facilities.
Due primarily to increased sale
of event corporate/premium
packages for the International
Cricket Season, expenditure
upon premium/corporate seating
ticket charges, catering and
merchandising was $7.2 million,
compared to $4.2 million in the
previous year.
Insurance
The Trust’s major insurance risks
are covered through membership
of the Treasury Managed Fund.
Insurance premiums paid in
2006/07 were significantly reduced
to $587,000 compared to $675,000
in the previous year.
The Trust insurance placement
and coverage is reviewed annually
by Brokers, Chambers Gallop
McMahon Pty Ltd.
Consultants
Consultants were appointed
for a range of projects in 2006/07,
with payments totalling $654,000.
The major consultancies were
provided by: Javelin Australia,
Public Relations fee – $150,000,
Peter Knowland – Acoustical
Consulting and ERM Noise
Management Plan – $51,000,
Moore Sports, Naming Rights
Consultant for Aussie Stadium –
$50,000, Network Systems
Network Security – $49,000,
Fitch Australia Credit Rating,
$25,000 Ernst & Young
Accounting, $24,000.
The balance of consultants fees
incurred was paid by the Trust for
minor consultancies for services
provided. These included:
IT services, accounting services,
probity review, event services
software, engineering services,
planning advice, tender review,
crisis management plan, sound,
risk management, OH&S,
employment matters, building
and other services.
Summary of Land Vested in the Trust
The Trust was constituted under
the Sydney Cricket and Sports
Ground Act, 1978. It is charged
with the care, control and
management of the lands
described in Schedule 2 of
the Act, those lands dedicated
for public recreation.
Major Assets – Property,Plant & Equipment
The Trust’s major assets other
than land holdings consist of
buildings and improvements at
the SCG, Aussie Stadium and
its surrounds.
During 2006/07, the Trust received
an independent valuation by the
State Valuation Office of its vested
lands, based on an “as zoned and
used basis,” providing a valuation
of $34 million as at 28 February
2007. The valuation increment
recorded since the previous
valuation of land, $3 million,
was transferred to the Asset
Revaluation Reserve.
CORPORATE SERVICES
FINANCIAL REPORT CONTINUED
34 06/07 ANNUAL REPORT 35
Interest Paid onLoans/Rating BasedGuarantee Fees
The Trust borrowings were
extended by $1 million in the
past year whilst continuing to
conduct an extensive Capital
Works Program. Interest paid on
capital debt during the year was
$528,000 compared to $598,000
in the previous year.
Other financing charges including
Ratings Guarantee Fees totalled
$459,000 ($597,000 in 2005/06)
based upon application of a
BB rating (BB+ rating in the
previous year).
Debt ManagementPerformance
The Trust’s debt portfolio is
managed by NSW Treasury
Corporation. Over the financial
year cash rates moved modestly
higher by 0.75%, to 6.25%. Long-
term interest rates remained
below the cash rate despite three
cash rate increases, reflecting
persistent offshore demand for
higher yielding AUD securities.
Sedate inflationary outcomes
have pushed out expectations
for further interest rate increases
to 2008. The market value of the
Trust’s portfolio increased by
$826,000 over the financial year
to be $7.9 million at year end.
TCorp’s debt management
involved tactical positioning of the
portfolio to reduce interest costs.
This resulted in the portfolio’s
cost of funds being approximately
0.04% below its benchmark, which
represented an annual saving
of $8,834 against the Trust’s
benchmark for the year ended
28 February 2007.
Homebush TicketProvision
In accordance with contracted
arrangements following debt
retirement upon allotment of
Stadium Australia Gold Packages,
the Trust was required to
establish a provision account to
hold calculated interest savings
generated from the level of debt
retired, the provision to be utilised
for future purchase of tickets to
premium football events at the
Telstra Stadium. The provision
has now been exhausted and
any future purchases of tickets
will be expensed through the
Income Statement.
Ground Operation and Maintenance/Capital Works
The Trust utilises a permanent
trades workforce, service
contractors and subcontractors
to undertake an annual program
of maintenance of grandstands,
buildings, plant, grounds and
playing arenas at the SCG and
Aussie Stadium.
Expenditure of $6.8 million upon
maintenance of grounds and
buildings was incurred during the
past year compared to $6.2 million
in the previous year.
The Trust undertook various
capital works projects during
2006/07 totalling $19.5 million,
including: the NSW Rugby Centre
of Excellence ($4.2 million),
Aussie Stadium seating increase
($5.2 million); Aussie Stadium
home dressing room expansion
($818,000); SCG floodlight
upgrade program ($760,000);
Bradman Stand Level 3
renovation ($398,000); Aussie
Stadium videoscreen ($964,000);
SCG Ashes projects ($947,000);
SCG Hill Grandstand preliminary
works ($3.1 million).
Event Operating Costs
Event costs incurred in the
staging of sporting and other
events during the year were
$10.2 million compared to
$8.1 million in the previous year.
These are direct costs incurred
for all sporting and other events
staged at Trust grounds including
the International Cricket season,
the Robbie Williams concerts and
the Mundine v Green fight, together
with additional obligations to Sports
Partners through implementation
of new hiring contracts.
Staff Related Expenses
Staff related expenses incurred
during the past year totalled
$12.3 million compared to
$11 million in 2005/06. These
costs include permanent salaries,
wages and on-costs (for both a
full-time and part-time workforce)
incurred in administration of the
Trust operations and casual event
staff wages and on-costs.
SYDNEY CRICKET & SPORTS GROUND TRUST
SCG12873_SectionB_24.08.07 15/10/07 1:35 PM Page 34
Performance Reviews
Newly contracted ratings agency,
Fitch conducted an initial review
of the Trust’s financial operations
and position as at 28 February 2006.
The subsequent report by Fitch
recommended assignment of a
financial rating of BB (compared
to BB+ assigned in the previous
year). The new rating was utilised
by NSW Treasury in determining
the amount of annual ratings
based guarantee fees payable.
In determining the financial
rating, Fitch reported that the
Trust’s credit strengths included:
• Ownership of an iconic sporting
arena the SCG, the traditional
home of cricket in Sydney;
• Both SCG and Aussie Stadium
facilities are used year-round,
with five key sports associations
contracted for several years
at a time (cricket, Australian
rules, rugby league, rugby
union and soccer);
• A history of modest but
consistent profitability;
• Strong balance sheet,
with low gearing and good
interest coverages.
The Trust’s four main committees
(Grounds and Event Services,
Finance, Management and Audit)
are responsible for continuous
internal performance review
of Trust activities. Monthly
management reports are submitted
to these committees for assessment
of operational performance.
The Trust also submits financial
reports to the Treasury Commercial
Sector Division for review of operating
performance and financial position
as compared to agreed Statement
of Financial Performance targets
established annually.
Credit Card Use
The use of credit cards issued to
Trust executive staff is in accordance
with Premier’s Memoranda and
Treasurer’s Directions.
CORPORATE SERVICES
FINANCIAL REPORT CONTINUED
36 06/07 ANNUAL REPORT 37
During 2006/07 the Trust received
an independent valuation by WT
Partnership, registered quantity
surveyors, of the replacement cost
of buildings and improvements
at the SCG and Aussie Stadium.
The valuation at replacement
cost was converted to written
down replacement cost by the
determination of the remaining
useful life of each building. The
valuation increment recorded
since the previous valuation
of buildings and improvements
$240 million, was transferred to
the Asset Revaluation Reserve.
As a result of the revaluations,
an Asset Revaluation Reserve
remains established. The balance
of this Reserve as at 28 February
2007 stood at $319 million.
The value of land, buildings and
improvements, plant and equipment
recorded in the Trust financial
statements as at 28 February 2007
stands at $465.2 million.
The Trust’s current Industrial
Special Risks insurance policy as
at 28 February 2007 provides a cover
on buildings, plant and equipment
to the value of $504 million.
Depreciation
Depreciation charged for 2006/07
was $7.3 million compared to
$5.1 million in the previous year.
Depreciation, reflecting the
revaluation of buildings and
improvements, is calculated on
the value of buildings and plant
using the straight line method
based on the expected useful
life of the assets.
SYDNEY CRICKET & SPORTS GROUND TRUST
Time for Payment of Accounts
Listed below is a schedule of accounts payable performance as at
28 February 2007, 30 November 2006, 31 August 2006, and 31 May 2006.
Month Current Less than 30-60 60-90 Over Total
30 days days days 90 days $
overdue overdue overdue overdue
May 212,590 118,645 -89,889 425,040 22,404 688,790
% 30.86% 17.23% -13.05% 61.71% 3.25% 100.00%
August 328,264 157,693 506,346 3,751 80,320 1,076,374
% 30.50% 14.65% 47.04% 0.35% 7.46% 100.00%
November 757,636 845,132 -66,046 200 84,520 1,621,441
% 46.73% 52.12% -4.07% 0.01% 5.21% 100.00%
February 3,035,795 1,102,080 0 -320 13,315 4,150,870
% 73.14% 26.55% 0.00% -0.01% 0.32% 100.00%
A minimal number of complaints were received during the year concerning late payment of invoices, each matter
being resolved satisfactorily.
SCG12873_SectionB_24.08.07 15/10/07 1:35 PM Page 36
INFORMATION TECHNOLOGY ORGANISATIONAL CHART
38 06/07 ANNUAL REPORT 39
The Trust’s IT Department
provides a diverse range of
services, delivered in a manner
to ensure the best possible
outcomes to benefit and improve
the day-to-day management
of the SCG and Aussie Stadium.
Core services and duties provided
by the IT Department include:
• Customer Contact Operations –
Help Desk
• Desktop Support Services
• Voice Communications
• Data Communications
• LAN Administration (Local
Area Network)
• Enterprise and corporate
systems implementation
and management
• Network infrastructure
implementation and
management
• Developing, implementing,
and maintaining applications
• Network and infrastructure
security, policy, procedure
and monitoring
• Setting and managing policy for
protection of the Trust’s physical
and electronic information assets
• Records Management
A diverse range of projects were
managed or undertaken by the
IT Department during the past
year including:
A new website launched in
December 2006 including
improved functionality, better
navigation, secure and managed
content, Members Only pages,
Image Gallery, RSS Feeds and
Calendar plug-ins. A new wireless
system was deployed with
enhanced security and scalability.
The works were phase one of
a project which will deliver
wireless voice phones, wireless
catering devices and mobility
solutions for all Trust staff.
A hardware appliance was
implemented to perform all Spam,
virus and content filtering for all
email communications.
A major upgrade of the Trust’s
firewall (including hardware and
software) was conducted which
delivered improved security and
manageability across all data
communications.
Handover to Sydney Olympic
Park Authority (SOPA) of Sydney
Olympic Park Aquatic Centre IT
network was conducted in June
2006, at the completion of the
Trust’s tenure as Operator.
The Trust mobile phone fleet was
migrated to a new service provider.
All agreements for photo copiers
and printers were consolidated into
one Print Management Contract
providing a single point of contact for
support, consumables and servicing.
Phase one of a program to replace
the Trust’s catering point of sale
system was completed which
included evaluation at different
technologies, designing the new
solution, establishing new cabling
infrastructure and development
of a Project Plan. This project will
deliver 175 Windows based touch
screen terminals to catering
outlets within the SCG Members
Reserve and Aussie Stadium
during 2007, with an additional
130 terminals to be deployed to
the SCG public areas and the new
SCG Hill Grandstand in 2008.
A premium SMS service was
developed and introduced during
the Foundation Cup at Aussie
Stadium in February. At this event
the SMS service offered patrons
the opportunity to message their
choice for ‘Man of the Match’.
Results were displayed on the two
videoscreens during the game.
A new Disposal Authority Document
was developed as well as new
policies and procedures for the
management of all Trust records.
The integration of the corporate
product invoicing module into
the Sun Accounting System
was completed.
A major network infrastructure
upgrade was completed with the
installation of three new server
racks and three dedicated
Uninterruptible Power Systems.
Upgrade of SCG Clive Churchill/
Brewongle Stand Level seven
phone/data cabling.
Co-ordination of the installation of
over 30 telephone and data services
to Aussie Stadium private suites
for the Robbie Williams Concert.
Completion of the design and
development of a membership
database and ballot process for
the allocation of reserved seating
in the International Cricket Season.
Each of these projects and
initiatives managed by the IT
Department have improved the
efficiency and effectiveness of
Trust operations. The IT Department
continues to aspire to provide
professional services and to
perform assigned tasks on
a cost effective basis.
SYDNEY CRICKET & SPORTS GROUND TRUST
Bernie Lamerton
General Manager
Corporate
Services
Craig Meagher
General Manager
Marketing &
Membership
Jason Hill
General Manager
Business
Development
Rob McQuade
General Manager
Commercial &
Operations
Michael Bangel
General Manager
Properties
Shane Fuller
General Manager
Major Projects
Audit Committee Finance Committee
Trust
Grounds & EventServices Committee
ManagementCommittee
Finance
Information
Technology
Marketing
Member Events
Member
Administration
Stadium Fitness
Centre
Venue Services
Office
Hospitality
Sponsorship
and Advertising
Gold Member
Sales
Event
Management
Operations
Management
Security
Catering
Human
Resources
Cleaning
Merchandising
Venue
Management
Asset
Management
OH&S
Capital Works
Master Plan
Project
Management
Playing Fields
and Gardens
Jamie Barkley
Chief Executive Officer
Media and PR
SCG12873_SectionB_24.08.07 15/10/07 1:35 PM Page 38
TRUSTEES
40 06/07 ANNUAL REPORT 41
Mr Rodney M Cavalier, AO
Trust Chairman
Committees: Finance, Grounds and
Event Services, Management
Bachelor of Arts
Former NSW Member of Parliament 1978 – 1988
Former NSW Minister for Education 1984 – 1988
Former NSW Minister for Energy & Minister for
Finance 1984
Chairman of the Committee for the
Sesquicentenary of Responsible Government
Director: C E W Bean Foundation
Director: Sydney Ferries Corporation
Appointed Trustee to 13 July 2009
Mr E (John) Cloney
Deputy Chairman
Chairman, Finance Committee
Committees: Audit, Finance, Grounds and
Event Services, Management
Chairman: QBE Insurance Group Ltd
Chairman: CREATE Foundation
Member: ABN AMRO Advisory Council
Company Director: ABN AMRO Australia Holdings Ltd
Company Director: Boral Ltd
Company Director: Maple-Brown Abbott Limited
Fellow: Australia & New Zealand Institute of
Insurance & Finance
Fellow: Australian Institute of Management
Foundation Fellow: Australian Institute of
Company Directors
Appointed Trustee to 13 July 2007
Mr Ken W Catchpole, OAM
Committees: Grounds and Event Services,
Management
Bachelor of Science (Hons) University of Sydney
Consultant
President: NSW Rugby Union
Member: Wallaby Hall of Fame
Member: International Rugby Hall of Fame
Former Australian Rugby Captain
Patron: Australian Barbarians and Classic Wallabies
Members-elected Trust representative
Appointed Trustee to 13 July 2010
Ms Kerry Chikarovski
Committee: Finance
Bachelor of Economics (Syd), LL.B. (Syd)
Director – Infrastructure Planning Aust Pty Ltd
Former Minister for Consumer Affairs,
Industrial Relations, and Women
Former Leader of NSW Parliamentary Liberal Party
Board Member – Fitness NSW
Board Member – Humpty Dumpty Foundation
Appointed Trustee to 13 July 2007
Hon Michael A Cleary, AO
Chairman, Grounds and Event Services Committee
Committee: Grounds and Event Services
Chairman: Clearmarketing Pty Ltd
Director: NSW Rugby League
Trustee: Wentworth Park Trust
Former Member of Parliament (Coogee) 1974 – 1991
Former Minister for Sport, Recreation, Racing & Tourism
Former Australian representative in athletics, rugby
union and rugby league
Appointed Trustee to 13 July 2007
SYDNEY CRICKET & SPORTS GROUND TRUST
Mr Phillip H Green
Committee: Finance
Bachelor of Commerce (UNSW)
Bachelor of Law (UNSW)
Chartered Accountant
Director: Babcock & Brown
Director: Babcock & Brown Infrastructure
Director: Babcock & Brown Japan Property Trust
Director: Everest Babcock & Brown Limited
Director: Babcock & Brown Environmental
Infrastructure Limited
Director: Babcock & Brown Capital Limited
Director: MTM Entertainment Trust
Director: Thakral Group
Appointed Trustee to 13 July 2009
Ms Catherine Harris, AO PSM
Committee: Grounds and Event Services
Bachelor of Commerce (UNSW) FAICD
Chairperson: Harris Farm Markets Pty Ltd
Director: Australia – Japan Foundation
Board Member: National Gallery of Australia Foundation
Board Member: Museum of Contemporary Art
Board Member: UNSW Foundation
Board Member: Notre Dame University
Appointed Trustee to 13 July 2007
Mr Alan B Jones, AO
Committee: Grounds and Event Services
Graduate of Queensland and Oxford Universities
Former speech writer and senior advisor to the
Prime Minister, Right Hon Malcolm Fraser
Queen’s Birthday Honour – an Officer within the
Order of Australia for his services to the media and
sports administration
Former Australian Rugby Union Coach
Former Coach of the Balmain and South Sydney
Rugby League Clubs
Elected to the Confederation of Australian
Sports Hall of Fame – 1985
Broadcaster: Radio Station 2GB 873 and Channel 9
Awarded Australian Radio Talk Personality of the Year
1990, 1991, 1992, 1993, 1995, 1997, 1998, 1999, 2000,
2001, 2002, 2003, 2004, 2005
Awarded Australian Radio Best Current Affairs
Commentator: 1991, 1992, 1993, 1995, 1996, 1997,
1998, 2000, 2001, 2002, 2003, 2004, 2005
Advance Australia Award – Services to the
Community 1993
Awarded the Inaugural Sir Roden Cutler Medal
for Services to the Community – 2003
Deputy Chairman: Australian Sports Commission
Deputy Chairman: NSW Institute of Sport
Appointed Trustee to 13 July 2009
Mr Geoffrey F Lawson, OAM
Committee: Grounds and Event Services
Bachelor of Optometry
Vice President: UNSW Sports Association
Member: University of NSW Council
Former International cricketer
Former Director: Advertising Standards Board
Members-elected Trust representative
Appointed Trustee to 13 July 2010
SCG12873_SectionB_24.08.07 15/10/07 1:35 PM Page 40
TRUSTEES
CONTINUED
42 06/07 ANNUAL REPORT 43
Mr Colin W Love, AM LLB
Committee: Grounds and Event Services
Legal Practitioner and Sports Promoter
Chairman: Australian Rugby League Limited
Chairman: New South Wales Rugby League Limited
Chairman: NRL Partnership Executive Committee
Chairman: Rugby League International Federation Ltd
Appointed Trustee to 13 July 2007
Mr John A McCarthy, QC
Committee: Finance
Barrister (admitted 1976)
Queen’s Counsel (appointed 1988)
Pro Chancellor: University of Sydney
Fellow of the Senate of the University of Sydney
and Member of:
• Senate Honorary Awards Committee
• Senate Sports Liaison Committee (Convenor)
• Senate Finance Committee
Member: NSW Legal Aid Review Committee
Chairman: John Stephen Akhwari Athletics Foundation
(“JSAAF”) 2001–
Appointed Trustee to 13 July 2009
Mr Roderick H McGeoch, AM LLB
Chairman, Audit Committee
Committees: Finance, Audit
Lawyer
Chairman: Saatchi and Saatchi Trans Tasman
Advisory Board
Director: Ramsay Health Care Ltd
Director: LIPA Pharmaceuticals
Member: Aon Risk Services Limited NSW Board of Advice
Director: Frontiers Group International Ltd (UK Listing)
Director: Telecom Corporation of New Zealand Limited
“TCNZ”
Director: Maxwood Pty Ltd
Director: McGeoch Holdings Pty Ltd
Chairman: Pacific Healthcare Australia
Chairman: Sky City Entertainment Group Limited
Chairman: Vantage Private Equity Growth Limited
Appointed Trustee to 13 July 2007
Ms Kaye Schofield
Chairperson, Management Committee
Committees: Finance, Management
Bachelor of Arts, Master of Education
Executive Director: Kaye Schofield
& Associates Pty Ltd, Management Consultants
Director: WaterEd Australia Pty Ltd
Member: NSW TAFE Commission Board
Appointed Trustee to 13 July 2009
Mr A F (Tony) Shepherd
Committee: Grounds and Event Services
Bachelor of Commerce
Chairman: ConnectEast Group
Chairman: Transfield Services Limited
Director: The Global Foundation
Appointed Trustee to 13 July 2009
Mr Paul H Warren
Committee: Finance
Bachelor of Business (Marketing & Accounting)
Chairman: Sydney Metro: Ford Dealers
Advertising Fund Ltd
Chief Executive: Peter Warren Group of Companies
Director: Ford Dealers Advertising Fund Ltd
Director: Peter Warren Group of Companies
Member: Motor Traders Association
Member: Board of Management,
St Vincents Prostate Cancer Centre
Appointed Trustee to 13 July 2009
SYDNEY CRICKET & SPORTS GROUND TRUST
0
1
2
3
4
5
6
7
8
9
2002/03 2003/04 2004/05 2005/06 2006/07
Earnings Before Interest$m
0
1
2
3
4
5
6
2002/03 2003/04 2004/05 2005/06 2006/07
Operating Surplus $m
0
1
2
3
4
5
6
7
8
9
10
2002/03 2003/04 2004/05 2005/06 2006/07
Interest Covertimes
Budget
0
5
10
15
20
25
2002/03 2003/04 2004/05 2005/06 2006/07
Interest Cover (excl. depr.)times
Actual
FINANCIAL INDICATORS
SCG12873_SectionB_24.08.07 15/10/07 1:35 PM Page 42
44 06/07 ANNUAL REPORT 45SYDNEY CRICKET & SPORTS GROUND TRUST
SCG12873_SectionB_24.08.07 15/10/07 1:36 PM Page 44
2007 2007 2006
$’000 $’000 $’000
Notes Consolidated Parent Parent
REVENUE
Event and Venue Hire Fees 9,247 9,247 7,248
Catering 2a 15,453 15,453 14,596
Premium Seating 2b 8,592 8,592 5,167
Membership Fees 2c 15,337 15,337 13,431
Private/Corporate Box Rental 2d 4,637 4,637 3,510
Advertising and Sponsorship 2e 5,837 5,837 5,155
Interest 488 488 312
Superannuation Fund Valuation Surplus 4 254 4 7
Other 2f 5,261 5,261 3,775
Total Revenue 65,106 64,856 53,201
EXPENDITURE
Event Operating Costs 3a 10,275 10,275 8,094
Catering Expenses 3b 7,587 7,587 7,230
Premium/Corporate Seating 3c 7,217 7,217 4,156
Staff Related Expenses 3d 12,296 12,046 11,034
Administration and Related Expenses 3e 5,825 5,825 3,976
Ground Operation and Maintenance 6,771 6,771 6,248
Membership Redemptions 16 16 (199)
Depreciation 1f, 6 7,258 7,258 5,117
Borrowing Costs 528 528 598
Marketing 1,797 1,797 1,701
Superannuation Fund Allocation 4 – – 2
Provisions 9, 11 – – 480
Loss on Disposal of Assets 3f 37 37 106
Total Expenditure 59,607 59,357 48,543
PROFIT FOR THE YEAR 5,499 5,499 4,658
The accompanying notes form part of these financial statements.
SYDNEY CRICKET & SPORTS GROUND TRUST
BALANCE SHEET AS AT 28 FEBRUARY 2007
46 06/07 ANNUAL REPORT 47
2007 2007 2006
$’000 $’000 $’000
Notes Consolidated Parent Parent
ASSETS
Current Assets
Cash 348 348 1,290
Receivables 4 13,291 13,291 7,271
Investments 5 1,344 1,344 2,429
Inventories 1h 750 750 453
Total Current Assets 15,733 15,733 11,443
Non-Current Assets
Receivables 4 597 597 309
Property, Plant and Equipment 1e, 6 465,226 465,226 206,607
Total Non-Current Assets 465,823 465,823 206,916
Total Assets 481,556 481,556 218,359
LIABILITIES
Current Liabilities
Payables 7 28,935 28,935 17,217
Interest Bearing Liabilities 1l, 8 1,440 1,440 1,489
Employee Provisions 1i, 9 1,681 1,681 1,380
Other Provisions 11 – – –
Total Current Liabilities 32,056 32,056 20,086
Non-Current Liabilities
Payables 7 3,727 3,727 2,746
Interest Bearing Liabilities 1l, 8 6,494 6,494 5,459
Total Non-Current Liabilities 10,221 10,221 8,205
Total Liabilities 42,277 42,277 28,291
NET ASSETS 439,279 439,279 190,068
EQUITY
Retained Earnings 120,220 120,220 114,721
Reserves 319,059 319,059 75,347
TOTAL EQUITY 439,279 439,279 190,068
The accompanying notes form part of these financial statements.
SYDNEY CRICKET & SPORTS GROUND TRUST
SYDNEY CRICKET & SPORTS GROUND TRUST
INCOME STATEMENT FOR THE YEAR ENDED 28 FEBRUARY 2007
SCG12873_FinancialsC_24.08.07 15/10/07 1:38 PM Page 46
Retained Earnings Asset Revaluation Reserve Total Equity
2007 2007 2006 2007 2007 2006 2007 2007 2006
$’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000
Consol’d Parent Parent Consol’d Parent Parent Consol’d Parent Parent
Balance at the
beginning of the
financial year 114,721 114,721 110,063 75,347 75,347 75,347 190,068 190,068 185,410
Profit/(Loss)
for the year 5,499 5,499 4,658 – – – 5,499 5,499 4,658
Net increase in
land and buildings
asset revaluation
reserve – – – 243,712 243,712 – 243,712 243,712 –
Balance at
the end of the
financial year 120,220 120,220 114,721 319,059 319,059 75,347 439,279 439,279 190,068
The accompanying notes form part of these financial statements.
SYDNEY CRICKET & SPORTS GROUND TRUST
STATEMENT OF CASH FLOWS FOR THE YEAR ENDED
28 FEBRUARY 2007
48 06/07 ANNUAL REPORT 49
2007 2007 2006
$’000 $’000 $’000
Notes Consolidated Parent Parent
CASH FLOWS FROM OPERATING ACTIVITIES
Receipts from Operations 70,895 70,895 62,012
Interest Received 488 488 312
Other Receipts 363 363 452
Payments for Suppliers and Employees (53,559) (53,559) (54,219)
Borrowing Costs/Interest Paid (437) (437) (619)
Other Payments (1,523) (1,523) (2,578)
NET CASH PROVIDED BY OPERATING ACTIVITIES 17b 16,227 16,227 5,360
CASH FLOWS FROM INVESTING ACTIVITIES
Proceeds from Sale of Plant and Equipment 245 245 235
Payment for Property, Plant and Equipment (19,499) (19,499) (7,137)
NET CASH USED IN INVESTING ACTIVITIES (19,254) (19,254) (6,902)
CASH FLOWS FROM FINANCING ACTIVITIES
Repayment of Borrowings – – (3,000)
Proceeds from Borrowings 1,000 1,000 –
NET CASH USED IN FINANCING ACTIVITIES 1,000 1,000 (3,000)
NET INCREASE/(DECREASE) IN CASH AND
CASH EQUIVALENTS (2,027) (2,027) (4,542)
Cash and cash equivalents at the Beginning of Period 17a 3,719 3,719 8,261
CASH AND CASH EQUIVALENTS AT END OF PERIOD 17a 1,692 1,692 3,719
The accompanying notes form part of these financial statements.
SYDNEY CRICKET & SPORTS GROUND TRUST
SYDNEY CRICKET & SPORTS GROUND TRUST
STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED
28 FEBRUARY 2007
SCG12873_FinancialsC_24.08.07 15/10/07 1:38 PM Page 48
(d) Revenue Recognition
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the entity and
the revenue can be reliably measured. The following specific recognition criteria must be met before revenue
is recognised:
• Rendering of Services – where control of a right exists to receive consideration upon completion of
or a stage of services provided.
• Investment income – is recognised as it accrues.
(e) Property, Plant and Equipment
The Trust’s property, plant and equipment have been brought to account at fair value.
Revaluation of these assets is undertaken at intervals not exceeding five (5) years.
See Note 6.
(f) Physical Non-Current Assets
Capitalisation
All physical non-current assets costing over $5,000 individually and all items under $5,000 which are
considered at risk of theft are capitalised and recorded in the Trust’s assets register.
Depreciation
Property, plant and equipment, other than land, are depreciated at rates based on their expected useful lives
for the Trust, using the straight-line method.
Depreciation rates of each class of depreciable assets are:
Buildings and Improvements 1.1% – 20%
Plant and Equipment 10% – 33.3%
(g) Maintenance
The cost of day-to-day servicing costs or maintenance are charged as expenses as incurred, except where they
relate to the replacement of a part or component of an asset, in which case the costs are capitalised and depreciated.
(h) Inventories
Inventories have been valued at the lower of cost and net realisable value. Cost is determined on an average
cost basis.
SYDNEY CRICKET & SPORTS GROUND TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED
28 FEBRUARY 2007
50 06/07 ANNUAL REPORT 51
1. SUMMARY OF ACCOUNTING POLICIES
(a) Reporting Entity
The Trust, as a reporting entity, is a NSW Government Trading Enterprise.
The consolidated Financial Report for the year ended 28 February 2007 has been authorised for issue by the
Trust on 19 June 2007.
(b) Basis of Preparation
The Trust’s financial report is a general-purpose financial report, which has been prepared in accordance with:
• Australian Accounting Standards, (which include Australian Equivalents to International Financial
Reporting Standards (AEIFRS));
• The requirements of the Public Finance and Audit Act 1983 and Regulation;
• Australian Accounting Standards Board (AASB) interpretations and other professional pronouncements.
These statements have also been prepared under historic cost and accrual accounting conventions (except for
land, buildings and improvements which are shown at valuation).
Cost is based on the fair value of the consideration given in exchange for assets. The fair value of cash
consideration with deferred settlement terms is determined by discounting any amounts payable in the future
to their present value as at the date of acquisition. Present values are calculated using rates applicable to
similar borrowing arrangements of the Trust.
The activities of the Trust concentrate upon its primary role in the care, control and management of the
SCG and Aussie Stadium which are lands dedicated for public recreation.
The accounting policies adopted in compilation of the financial statements are consistent with those applied
in the previous year.
Judgements, key assumptions and estimations management as made are disclosed in the relevant notes
to the financial statements.
All amounts are expressed in Australian currency.
(c) Statement of Compliance
The Trust’s financial report complies with Australian Accounting Standards, which include AEIFRS, some of
which contain requirements specific to not-for-profit entities that are inconsistent with IFRS requirements.
SYDNEY CRICKET & SPORTS GROUND TRUST
SYDNEY CRICKET & SPORTS GROUND TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED
28 FEBRUARY 2007
SCG12873_FinancialsC_24.08.07 15/10/07 1:38 PM Page 50
(k) Receivables and Payables
Accounts receivable, which are generally settled within 30 days are carried at amounts due. Accounts payable
including accruals not yet billed, are recognised when the Trust becomes obliged to make future payments as
a result of purchase of assets or services. Accounts payable are generally settled within 30 days.
(l) Net Fair Values of Financial Assets and Liabilities
Interest bearing liabilities are recorded at current capital value.
Net fair values of other financial instruments are determined on the following basis:
Monetary financial assets and liabilities (which are not traded in an organised financial market)
• the carrying amounts of trade debtors, trade accounts payable and accruals are recorded
on a cost basis;
Investments in NSW Treasury Corporation Hour-Glass
• the value shown is market value, equivalent to cost.
(m) Debt Management Strategy
The NSW Treasury Corporation actively manages the Trust’s portfolio of debt. The Corporation has provided the
Trust the facility whereby maturing loans may be rolled over and replaced with new loans whilst maintaining
the original capital value of the portfolio. Borrowings and Advances are shown as current and non-current
liabilities and include the provision for rollover upon maturity.
(n) Sydney Olympic Park Aquatic and Athletic Centres
The Sydney Olympic Park Authority (SOPA) as the vested owner of the Sydney Olympic Park Aquatic and
Athletic Centres, entered into an operator’s agreement with the Trust effective from 1 July 2002. The Trust
provided a management advisory role in assisting in operational matters at the Centres through the established
Operators Agreement. The agreement ceased in June 2006. The Trust also provided the payroll function for all
staff employed at the Centres. Any expenses that were incurred during the past year through payroll, operational
expenditure and management time have been recouped from SOPA through the Centres’ operational account.
(o) Tax Status
The activities of the Trust are exempt from the provisions of the Income Tax Assessment Act and other Federal
Government taxation legislation, with the exception of the requirement to pay fringe benefits tax and GST.
SYDNEY CRICKET & SPORTS GROUND TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED
28 FEBRUARY 2007
52 06/07 ANNUAL REPORT 53
(i) Employee Benefits
Provision is made for annual leave and long service leave estimated to be payable to employees as at
28 February 2007.
Liabilities for salaries and wages (including non-monetary benefits) and annual leave are recognised and
measured in respect of employees’ services up to the reporting date at nominal amounts based on the
amounts expected to be paid when the liabilities are settled.
Unused non-vesting sick leave does not give rise to a liability, as it is not considered probable that sick leave
taken in the future will be greater than the benefits accrued in the future. Benefits for Rostered Days Off
(RDOs) have not been accrued, as the Trust policy is not to cash out these balances.
Benefits for long service leave and annual leave have been provided on the basis of emerging entitlements
for recognised service for long service leave, and quantum due at balance date for annual leave.
In accordance with the Australian Accounting Standard AASB 119 “Employee Benefits” liabilities arising in
respect of salaries and wages, annual leave and any other employee benefits expected to be settled within
twelve months of the reporting date are measured at their nominal amounts based on remuneration rate which
are expected to be paid when the liability is settled. All other employee benefit liabilities are measured at the
present value of the estimated future cash outflows to be made in respect of services provided by employees
up to the reporting date. In determining the present value of future cash outflows, the market yield on national
government bonds, which have terms to maturity approximating the terms of the related liability are used.
The provisions for leave entitlements also include the relevant on-costs.
Superannuation – the Trust as an employer also contributes in respect of the compulsory basic benefit and
superannuation guarantee levy to respective external superannuation funds as required by legislation.
Liabilities for superannuation are actuarially determined and contributions made to superannuation funds
are charged against the provision. The Trust’s superannuation prepayment as at 28 February 2007 has been
calculated and advised by Pillar Administration.
(j) Insurance
The Trust’s insurance activities are conducted through the NSW Treasury Managed Fund Scheme of self insurance
for Government agencies. The expense (premium) is determined by the Fund Manager based on past experience.
SYDNEY CRICKET & SPORTS GROUND TRUST
SYDNEY CRICKET & SPORTS GROUND TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED
28 FEBRUARY 2007
SCG12873_FinancialsC_24.08.07 15/10/07 1:38 PM Page 52
(d) Private/Corporate Box Rental
2007 2007 2006
$’000 $’000 $’000
Consolidated Parent Parent
4,637 4,637 3,510
Income includes hire/rental of corporate viewing boxes sold on an annual basis providing rights to view
matches at the SCG and Aussie Stadium.
(e) Advertising and Sponsorship
5,837 5,837 5,155
Income includes payments under contract with various companies for naming rights and advertisements that
are displayed on fences, grandstands and video scoreboards at the Sydney Cricket Ground and Aussie Stadium.
(f) Other
Merchandising 407 407 311
Parking Fees 174 174 202
Tour Fees and Sponsorship 133 133 150
Rentals 987 987 795
Contributions from Hirers 822 822 405
Exclusive Product Rights 1,961 1,961 645
Sundry 777 777 1,267
5,261 5,261 3,775
3. EXPENDITURE
(a) Event Operating Costs
10,275 10,275 8,094
These costs are direct expenses incurred in staging of sporting and other events during the year.
(b) Catering Expenses
Liquor COGS 3,967 3,967 3,763
Liquor Management Fee 3,620 3,620 3,467
7,587 7,587 7,230
(c) Premium Seating
7,217 7,217 4,156
These expenses relate to the sale of premium seat packages to corporate customers for major events and
include ticket charges, catering, merchandise etc.
SYDNEY CRICKET & SPORTS GROUND TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED
28 FEBRUARY 2007
54 06/07 ANNUAL REPORT 55
(p) Goods & Services Tax (GST)
Revenues, expenses and assets are recognised net of GST, except:
• the amount of GST incurred by the Trust as a purchaser that is not recoverable from the
Australian Tax Office (ATO) is recognised as part of the cost of acquisition of an asset or
as part of an item of expense.
• receivables and payables are stated with the amount of GST included.
Cash flows are included in the Cash Flow Statement on a gross basis. The GST components of cash flows
arising from investing and financing activities that are recoverable from, or payable to, the ATO are classified
as operating cash flows.
2. REVENUE
(a) Catering
Income received from liquor and food trading for events, functions and non-event days is detailed as follows:
Liquor Trading – $11,364,567 ($10,839,986 in 2006).
The Trust operates through a managing agent for liquor trading in the public, members and corporate
areas of the SCG and Aussie Stadium. Income from liquor trading represents gross liquor sales at the
SCG and Aussie Stadium.
Food Trading – $4,088,006 ($3,755,624 in 2006).
Income from food trading comprises a share of gross food sales received by the Trust under the catering
contract, together with amortisation of contract premiums received as a licence fee paid in advance.
The Trust’s current catering contract is due to expire on 31 October 2010. The total premium paid under
the contract is being amortised annually over the term of the contract.
(b) Premium Seating
2007 2007 2006
$’000 $’000 $’000
Consolidated Parent Parent
8,592 8,592 5,167
Income includes hire/rental of corporate facilities and corporate seating sold on a daily and seasonal basis
providing dining/viewing for major events at the SCG and Aussie Stadium.
(c) Membership Fees
Gold and SCG Membership Subscriptions 10,769 10,769 9,079
SCG Member Entrance Fees 552 552 585
Gold Member Entrance Fees 4,016 4,016 3,767
15,337 15,337 13,431
SYDNEY CRICKET & SPORTS GROUND TRUST
SYDNEY CRICKET & SPORTS GROUND TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED
28 FEBRUARY 2007
SCG12873_FinancialsC_24.08.07 15/10/07 1:38 PM Page 54
(f) Loss on Disposal of Property, Plant and Equipment
2007 2007 2006
$’000 $’000 $’000
Consolidated Parent Parent
Proceeds from Disposal 245 245 235
Written down value of assets disposed 282 282 341
Loss on disposal of Property, Plant and Equipment 37 37 106
4. RECEIVABLES
As at 28 February 2007, the amount shown as Receivables comprised the following items:
Current:
Prepayments and Accrued Income 2,182 2,182 1,273
Catering Debtors 1,169 1,169 1,232
Sundry Debtors 9,227 9,227 4,412
GST Receivable 548 548 40
Provision for Doubtful Debts (170) (170) –
Futures Contracts 335 335 314
13,291 13,291 7,271
Non-Current:
Superannuation Prepayment 561 561 307
Sundry Debtors 36 36 2
597 597 309
Superannuation Prepayment
A number of Trust employees are Members of the State Authorities Superannuation Scheme (SASS) and the
State Authorities Non-Contributory Superannuation Scheme (SANCS). All members are entitled to benefits on
retirement, disability or death. The superannuation plans are administered by Pillar Administration (formerly
the Superannuation Administration Corporation) and provide defined benefits based on years of service and
final average salary. Employees contribute to the plans at various percentages of their wages and salaries.
The Trust also contributes to the plans.
These schemes are all defined benefit schemes – at least a component of the final benefit is derived from
a multiple of member salary and years of membership. All the schemes are closed to new members.
Actuarial gains and losses are recognised in profit or loss in the year they occur. The Pooled Fund holds
in trust the investments of the closed NSW Public Sector Superannuation Schemes: State Authorities
Superannuation Scheme (SASS) and State Authorities Non-Contributory Superannuation Scheme (SANCS).
Pillar Administration (Pillar) has advised the level of estimated superannuation surplus at 28 February 2007.
The economic assumptions used to calculate the superannuation asset of both defined benefit schemes are
those used for Mercer’s 2003 triennial valuation of the schemes listed overleaf.
SYDNEY CRICKET & SPORTS GROUND TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED
28 FEBRUARY 2007
56 06/07 ANNUAL REPORT 57
(d) Staff Related Expenses
2007 2007 2006
$’000 $’000 $’000
Consolidated Parent Parent
Salaries and Wages 9,261 1,525 9,018
Trustees Remuneration 116 116 116
Provision for Leave/Gratuity 588 39 488
Superannuation 805 37 539
Workers Compensation 124 14 26
Payroll Tax 633 27 438
Other Staff Related Expenses 769 610 409
Personnel Services – 9,678 –
12,296 12,046 11,034
Personnel Services
Salaries and Wages – 7,736 –
Provision for Leave/Gratuity – 549 –
Superannuation Expense – 518 –
Workers Compensation – 110 –
Payroll Tax – 606 –
Other Staff Related Expenses – 159 –
– 9,678 –
(e) Administration and Related Expenses
Audit Fees (Audit Office of NSW) 73 73 73
Accounting and Legal Services 181 181 304
Consultant Fees 654 654 427
Travel 84 84 98
Postage/Freight 227 227 179
Telephone 262 262 252
Printing and Stationery 801 801 916
Provision for Doubtful Debts 155 155 (64)
Bad Debts Written off 1 1 –
Insurance 587 587 675
Members Seating 1,781 1,781 –
Sundry 560 560 519
Finance 459 459 597
5,825 5,825 3,976
The Audit Office of NSW’s fee for auditing the annual financial report for the year ended 28 February 2007
is $72,500 ($72,500 in 2006).
SYDNEY CRICKET & SPORTS GROUND TRUST
SYDNEY CRICKET & SPORTS GROUND TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED
28 FEBRUARY 2007
SCG12873_FinancialsC_24.08.07 15/10/07 1:38 PM Page 56
2007 2007 2006
$’000 $’000 $’000
Consolidated Parent Parent
5. INVESTMENTS
NSW Treasury Corporation Hour-Glass 1,344 1,344 2,429
6. PROPERTY, PLANT AND EQUIPMENT
Land at Valuation 34,000 34,000 31,000
Buildings and Improvements (at fair value) 568,660 568,660 186,025
Accumulated Depreciation (150,624) (150,624) (15,567)
418,036 418,036 170,458
Plant and Equipment (at fair value) 14,397 14,397 13,519
Accumulated Depreciation (10,194) (10,194) (9,434)
4,203 4,203 4,085
Work in progress 8,987 8,987 1,064
Total Carrying Amount 465,226 465,226 206,607
The Trust’s current Industrial Special Risks insurance policy as at 28 February 2007 provides a cover on buildings,
plant and equipment to the value of $504 million.
SYDNEY CRICKET & SPORTS GROUND TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED
28 FEBRUARY 2007
58 06/07 ANNUAL REPORT 59
(i) Reconciliation of the assets and liabilities recognised in the Balance Sheet:
SASS SANCS
2007 2006 2007 2006
$ $ $ $
Present Value of Defined Benefit Obligations (1,678,739) (1,501,641) (196,526) (188,485)
Fair Value of Plan Assets 2,222,870 1,808,096 213,955 189,495
Net asset/(liability) at 28 February 2007
to be disclosed in the Balance Sheet 544,131 306,455 17,429 1,010
Assets invested in entity or in property occupied by the entity
All fund assets are invested by STC Trustee Corporation at arm’s length through independent fund managers.
(ii) Movement of the assets and liabilities recognised in the Balance Sheet:
SASS SANCS
2007 2006 2007 2006
$ $ $ $
Net asset/(liability) at start of year 306,455 298,443 1,010 4,409
Net income/(expense) recognised
in the income statement 237,676 8,012 16,419 (3,399)
Net asset/(liability) at 28 February 2007
to be disclosed in the Balance Sheet 544,131 306,455 17,429 1,010
(iii) Actual Return on Fund Assets:
SASS SANCS
2007 2006 2007 2006
$ $ $ $
Actual return on Fund assets 291,191 266,163 27,601 41,139
(iv) Economic assumptions
28 February 2007 28 February 2006
% %
Salary increase rate
(excluding promotional increases) 4.0 pa to June 2008;
3.5 pa thereafter 4.0 pa
Rate of CPI increase 2.5 2.5
Expected rate of return on assets 7.6 7.3
Discount rate 5.8 5.4
SYDNEY CRICKET & SPORTS GROUND TRUST
SYDNEY CRICKET & SPORTS GROUND TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED
28 FEBRUARY 2007
SCG12873_FinancialsC_24.08.07 15/10/07 1:38 PM Page 58
7. PAYABLES
2007 2007 2006
$’000 $’000 $’000
Consolidated Parent Parent
Current:
Sundry Creditors and Accruals 12,760 12,760 5,313
Subscriptions Paid in Advance 6,116 6,116 5,412
Rents Paid in Advance 3,417 3,417 3,655
Advertising – Fees in Advance 1,243 1,243 1,172
Catering – Licence Fees in Advance 1,050 1,050 818
Other Deferred Income 4,182 4,182 771
Interest Payable 167 167 76
28,935 28,935 17,217
Non-Current:
Catering – Licence Fees in Advance 2,800 2,800 1,467
Rents – Paid in Advance 604 604 756
Advertising Fees in Advance 183 183 265
Other Creditors 140 140 258
3,727 3,727 2,746
8. INTEREST BEARING LIABILITIES
Current:
NSW Treasury Corporation Loans 1,440 1,440 1,489
1,440 1,440 1,489
Non-Current:
NSW Treasury Corporation Loans 6,494 6,494 5,459
6,494 6,494 5,459
Total 7,934 7,934 6,948
Significant Terms & Conditions:
NSW Treasury Corporation (Bullet) Loans are based upon installment payments of interest only and repayment
or rollover of principal at maturity. All borrowings are secured by Government Guarantee.
Capital Debt Repayment Schedule:
The following is a schedule of principal repayments due in respect of Treasury Corporation Loans:
a. < 1 year 1,440 1,440 1,489
b. > 1 < 5 years 3,009 3,009 3,032
c. > 5 years 3,485 3,485 2,427
7,934 7,934 6,948
SYDNEY CRICKET & SPORTS GROUND TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED
28 FEBRUARY 2007
60 06/07 ANNUAL REPORT 61
6. PROPERTY, PLANT AND EQUIPMENT continued
Reconciliations
Plant and Work In
Land Buildings Equipment Progress Total
$’000 $’000 $’000 $’000 $’000
2007
Carrying amount as at 1 March 2006 31,000 170,458 4,085 1,064 206,607
Net Revaluation Increment 3,000 240,712 – – 243,712
Additions – – 1,380 21,104 22,484
Reclassification – 13,181 – (13,181) –
Disposals – – (319) – (319)
Depreciation Expense – (6,315) (943) – (7,258)
Carrying amount as at 28 February 2007 34,000 418,036 4,203 8,987 465,226
2006
Carrying amount as at 1 March 2005 31,000 167,043 4,186 2,093 204,322
Additions – – 1,183 6,560 7,743
Reclassification – 7,589 – (7,589) –
Disposals – – (341) – (341)
Depreciation Expense – (4,174) (943) – (5,117)
Carrying amount as at 28 February 2006 31,000 170,458 4,085 1,064 206,607
Valuation of Land, Buildings and Improvements
During 2006/07, the Trust received an independent valuation by the State Valuation Office of its vested lands, based
on an “as zoned and used basis,” providing a valuation of $34 million as at 28 February 2007. The valuation increment
recorded since the previous valuation of land, $3 million, has been transferred to the Asset Revaluation Reserve.
During 2006/07 the Trust received an independent valuation by WT Partnership, registered quantity surveyors,
of the replacement cost of buildings and improvements at the SCG and Aussie Stadium. The valuation at
replacement cost was converted to written down replacement cost by the determination of the remaining
useful life of each building. The valuation increment recorded since the previous valuation of buildings and
improvements $240.7 million, has been transferred to the Asset Revaluation Reserve.
As a result of the revaluations, an Asset Revaluation Reserve remains established. The balance of this Reserve
as at 28 February 2007 stood at $319 million.
SYDNEY CRICKET & SPORTS GROUND TRUST
SYDNEY CRICKET & SPORTS GROUND TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED
28 FEBRUARY 2007
SCG12873_FinancialsC_24.08.07 15/10/07 1:38 PM Page 60
10. EMPLOYEE BENEFITS
Liability
The aggregate employee benefit liability recognised and included in the financial statements is as follows:
2007 2007 2006
$’000 $’000 $’000
Consolidated Parent Parent
Accrued Salaries and Wages 74 74 36
Provision for Employee Benefits:
Current (note 9) 1,681 1,681 1,380
Non-Current (note 9) – – –
1,681 1,681 1,380
Total employee benefits liability 1,755 1,755 1,416
11. OTHER PROVISIONS
Homebush Ticket Provision
In accordance with contracted arrangements following debt retirement upon allotment of Stadium Australia
Gold Packages, the Trust was required to establish a provision account to hold calculated interest savings
generated from the level of debt retired, the provision to be utilised for future purchase of tickets to premium
football events at the Homebush Olympic Stadium. The provision has now been exhausted and any future
purchases of tickets will be expensed through the Income Statement.
Opening Balance – – 700
Add: Allocation to Provision – – 480
Less: Ticket Purchases – – (1,180)
Closing Balance – – –
12. CAPITAL AND OTHER EXPENDITURE COMMITMENTS
Capital Commitments:
Total capital expenditure contracted as at 28 February 2007 but not provided for in the accounts:
– Not later than 1 year 57,253 57,253 8,223
– Later than 1 year but not later than 5 years 40,150 40,150 –
Total 97,403 97,403 8,223
Other Expenditure Commitments:
Total other expenditure contracted as at 28 February 2007 but not provided for in the accounts:
– Not later than 1 year 233 233 181
– Later than 1 year but not later than 5 years – – 165
Total 233 233 346
SYDNEY CRICKET & SPORTS GROUND TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED
28 FEBRUARY 2007
62 06/07 ANNUAL REPORT 63
9. EMPLOYEE PROVISIONS
2007 2007 2006
$’000 $’000 $’000
Consolidated Parent Parent
Employee Entitlements
Current:
Provision for Annual Leave and on-costs
Balance at beginning of year 780 – 808
Provision for the year 668 – 498
Less: Leave Taken (418) – (526)
Balance owing to the Division – 1,030 –
Balance at end of year 1,030 1,030 780
Provision for Long Service Leave and on-costs
Balance at beginning of year 600 – 534
Provision for the year 71 – 85
Less: Leave Taken (20) – (19)
Balance owing to the Division – 651 –
Balance at end of year 651 651 600
Total Employee Entitlements 1,681 1,681 1,380
SYDNEY CRICKET & SPORTS GROUND TRUST
SYDNEY CRICKET & SPORTS GROUND TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED
28 FEBRUARY 2007
SCG12873_FinancialsC_24.08.07 15/10/07 1:38 PM Page 62
16. FINANCIAL INSTRUMENTS
(i) Interest Rate Risk
The Trust’s exposure to interest rate risk, and the effective interest rates on financial instruments at balance
date are:
Fixed Interest Rate Maturities
Weighted
Average
Effective Floating Non
Interest Interest 1 Year 1 to 5 Over 5 Interest Balance
Rate Rate or less Years Years Bearing Total Sheet
% $’000 $’000 $’000 $’000 $’000 $’000 $’000
28 February 2007
Assets
Cash 348 – – – – 348 348
Investments 5.96 1,344 – – – – 1,344 1,344
Receivables – – – – 10,221 10,221 13,006
GST Receivable – 548 – – – 548 548
Futures Contracts 335 – – – – 335 335
Total Financial Assets 2,027 548 – – 10,221 12,796 15,581
Liabilities
Payables – – – – 12,760 12,760 32,495
Interest Payable – 167 – – – 167 167
Borrowings 6.58 – 1,440 3,009 3,485 – 7,934 7,934
Total Financial Liabilities – 1,607 3,009 3,485 12,760 20,861 40,596
Net Financial Assets (Liabilities) 2,027 (1,059) (3,009) (3,485) (2,539) (8,065) (25,015)
28 February 2006
Assets
Cash 1,290 – – – – 1,290 1,290
Investments 5.60 2,429 – – – – 2,429 2,429
Receivables – – – – 5,644 5,644 7,229
GST Receivable – 40 – – – 40 40
Futures Contracts 314 – – – – 314 314
Total Financial Assets 4,033 40 – – 5,644 9,717 11,302
Liabilities
Payables – – – – 5,312 5,312 19,887
Interest Payable – 76 – – – 76 76
Borrowings 6.76 – 1,489 3,032 2,427 – 6,948 6,948
Total Financial Liabilities – 1,565 3,032 2,427 5,312 12,336 26,911
Net Financial Assets (Liabilities) 4,033 (1,525) (3,032) (2,427) 332 (2,619) (15,609)
SYDNEY CRICKET & SPORTS GROUND TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED
28 FEBRUARY 2007
64 06/07 ANNUAL REPORT 65
12. CAPITAL AND OTHER EXPENDITURE COMMITMENTS continued
The total expenditure commitments above include input tax credits of $8.875 million which is expected to be
recovered from the Australian Tax Office.
Other commitments not quantified include specific obligations under term contracts with major sporting hirers
i.e. National Rugby League, NSW Rugby Union, NSW Cricket Association, Sydney Roosters, Sydney FC and the
Sydney Swans. The Trust receives contributions of goods and services from certain sponsors. In return, the Trust
provides advertising space and/or use of Trust facilities. The Trust does not consider the value of facilities and
advertising space provided in 2007 to be material.
13. SEGMENT REPORTING
The Trust operates primarily in one business segment by maintaining and improving grounds under its control
for the purpose of staging of sporting and other entertainment for public amusement. The Trust also operates
in one geographical segment being the Sydney metropolitan area.
14. TRUSTEES REMUNERATION
The Trust is classified as a Category C Advisory Board thereby enabling the payment of fees to Trust members.
Fees totalling $115,607 ($116,295 in 2006) were paid in accordance with rates determined by the Premier’s
Department to the Trustees during the year ended 28 February 2007.
The Trustees have access to the Trust Suite during event days at the SCG and Aussie Stadium. On occasion
expenses for travel by Trustees on Trust business are reimbursed by the Trust. There are no other benefits
paid to the Trustees.
15. CONTINGENT LIABILITIES
The Trust is not aware of any significant or material contingent liability in existence at balance date or which
has emerged subsequent to balance date (nil in 2006) which would materially impact on the financial position
of the Trust as shown in the Financial Statements.
In February 2007 the Trust received planning approval for the SCG Hill Grandstand Development. To facilitate
demolition and construction, the Trust has executed a Heads of Agreement with Fox Studios which provides
terms of arrangement for provision of construction access on or over the construction site boundary between
the SCG and Fox Studios. Costs associated with the terms of the agreement are yet to be determined.
SYDNEY CRICKET & SPORTS GROUND TRUST
SYDNEY CRICKET & SPORTS GROUND TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED
28 FEBRUARY 2007
SCG12873_FinancialsC_24.08.07 15/10/07 1:38 PM Page 64
17. CASH FLOW INFORMATION
(a) Reconciliation of Cash
For the purpose of the statement of cash flows, cash includes: cash on hand, and in banks, and investments
in NSW Treasury Corporation Hour-Glass Facility. Cash at 28 February 2007 as shown in the statement of cash
flows is reconciled to the related items in the balance sheet and accompanying notes as follows:
2007 2007 2006
$’000 $’000 $’000
Consolidated Parent Parent
Cash 348 348 1,290
NSW Treasury Corporation Hour-Glass 1,344 1,344 2,429
1,692 1,692 3,719
(b) Reconciliation from the net profit after tax to the net cash flows from operations
Profit/(Loss) after tax 5,499 5,499 4,658
Depreciation 7,258 7,258 5,117
Decrease (Increase) in Superannuation Prepayment – – (5)
Increase (Decrease) in Debt Transactions (14) (14) 21
Loss (Gain) on Sale of Non-Current Assets 37 37 106
Increase (Decrease) in Creditors 9,751 9,751 (5,983)
Decrease (Increase) in Inventories (297) (297) 50
Decrease (Increase) in Prepayments (909) (909) 2590
Decrease (Increase) in Receivables (5,399) (5,399) (437)
Increase (Decrease) in Provisions 301 301 (757)
Net Cash Provided by Operating Activities 16,227 16,227 5,360
Firmly committed long-term financing facilities of $100 million ($27.78 million in 2006) were available to the
Trust at 28 February 2007. As at that date, $7.934 million ($6.948 million in 2006) of these facilities were in use.
SYDNEY CRICKET & SPORTS GROUND TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED
28 FEBRUARY 2007
66 06/07 ANNUAL REPORT 67
16. FINANCIAL INSTRUMENTS continued
(ii) Credit Risk
All financial assets are unsecured.
The carrying amounts of financial assets included in the Balance Sheet represent the Trust’s maximum exposure
to credit risk in relation to these assets. Where entities have a right of set-off and intend to settle on a net basis,
this set-off has been reflected in the financial statements in accordance with accounting standards.
(iii) Derivative Financial Instruments
Net Exposure
The market value of the Trusts’ transactions in derivative financial instruments outstanding at 28 February
2007 are as follows:
2007 2007 2006
$’000 $’000 $’000
Consolidated Parent Parent
Derivative Financial Instruments Receivable
Futures Contracts 335 335 314
(iv) Net Fair Values
Total Carrying Amount
as per Balance Sheet Aggregate Net Fair Values
2007 2007 2006 2007 2007 2006
$’000 $’000 $’000 $’000 $’000 $’000
Consol’d Parent Parent Consol’d Parent Parent
Financial Liabilities
NSW Treasury
Corporation Loans 7,934 7,934 6,948 7,943 7,943 7,100
(v) Financial Instruments
Credit Facility – Commonwealth Bank $100,000.
Credit Standby Arrangements: –
The Trust maintains an available standby credit facility through an approved $100,000 bank overdraft
arrangement. The Trust has approval from the Treasury to increase this facility up to $500,000.
SYDNEY CRICKET & SPORTS GROUND TRUST
SYDNEY CRICKET & SPORTS GROUND TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED
28 FEBRUARY 2007
SCG12873_FinancialsC_24.08.07 15/10/07 1:38 PM Page 66
SYDNEY CRICKET & SPORTS GROUND TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED
28 FEBRUARY 2007
68 06/07 ANNUAL REPORT 69
18. NEW AUSTRALIAN ACCOUNTING STANDARDS ISSUED BUT NOT EFFECTIVE
(i) The Trust did not early adopt any new Accounting Standards that are not yet effective.
(ii) The following new Accounting Standards have not been applied and are not yet effective:
• AASB 7 Financial Instruments: Disclosures (1 January 2007)
• AASB 101 Presentation of Financial Statements (1 January 2007)
• AASB 1049 Financial Reporting of General Government Sectors by Governments (1 July 2008)
• AASB Interpretation 4 Determining whether an Arrangement contains a Lease (revised) (1 January 2008)
• AASB Interpretation 7 Applying the Restatement Approach under AASB 129 Financial Reporting in
Hyperinflationary Economies (1 March 2006)
• AASB Interpretation 8 Scope of AASB 2 (1 May 2006)
• AASB Interpretation 9 Reassessment of embedded derivatives (1 June 2006)
• AASB Interpretation 10 Interim Financial Reporting and Impairment (1 November 2006)
• AASB Interpretation 11 AASB 2 Group and Treasury Share transactions (1 March 2007)
• AASB Interpretation 12 Service Concession Arrangements (1 January 2008)
• AASB Interpretation 129 Service Concession Arrangements: Disclosure (revised) (1 January 2008)
The Trust has assessed the impact of these new Standards and Interpretations and considers the impact
to be insignificant.
END OF AUDITED FINANCIAL STATEMENTS
SYDNEY CRICKET & SPORTS GROUND TRUST
SCG12873_FinancialsC_24.08.07 15/10/07 1:39 PM Page 68
70 06/07 ANNUAL REPORT 71SYDNEY CRICKET & SPORTS GROUND TRUST
SYDNEY CRICKET & SPORTS GROUND TRUST DIVISION
BALANCE SHEET AS AT 28 FEBRUARY 2007
2007
Notes $'000
ASSETS
Current Assets
Receivables 3 1,408
Total Current Assets 1,408
Non-Current Assets
Receivables 3 561
Total Non-Current Assets 561
Total Assets 1,969
LIABILITIES
Current Liabilities
Payables 4 288
Employee Provisions 5 1,681
Total Current Liabilities 1,969
Total Liabilities 1,969
NET ASSETS –
EQUITY
Accumulated Funds –
TOTAL EQUITY –
The accompanying notes form part of these financial statements.
SCG12873_FinancialsC_24.08.07 15/10/07 1:39 PM Page 70
2007
Notes $’000
NET CASH PROVIDED BY OPERATING ACTIVITIES –
NET CASH USED IN INVESTING ACTIVITIES –
NET CASH USED IN FINANCING ACTIVITIES –
NET INCREASE/(DECREASE) IN CASH AND CASH EQUIVALENTS –
Cash and cash equivalents at the Beginning of Period –
CASH AND CASH EQUIVALENTS AT END OF PERIOD –
The accompanying notes form part of these financial statements.
SYDNEY CRICKET & SPORTS GROUND TRUST DIVISION
INCOME STATEMENT FOR THE PERIOD
17 MARCH 2006 TO 28 FEBRUARY 2007
72 06/07 ANNUAL REPORT 73
2007
Note $’000
REVENUE
Personnel Services 9,678
Total Revenue 9,678
EXPENDITURE
Salaries, Wages and on-costs 2 9,160
Superannuation 518
Total Expenditure 9,678
PROFIT FOR THE PERIOD –
The accompanying notes form part of these financial statements.
SYDNEY CRICKET & SPORTS GROUND TRUST
SYDNEY CRICKET & SPORTS GROUND TRUST DIVISION
STATEMENT OF CASH FLOWS FOR THE PERIOD
17 MARCH 2006 TO 28 FEBRUARY 2007
SCG12873_FinancialsD_24.08.07 15/10/07 1:39 PM Page 72
SYDNEY CRICKET & SPORTS GROUND TRUST DIVISION
STATEMENT OF CHANGES IN EQUITY FOR THE PERIOD
17 MARCH 2006 TO 28 FEBRUARY 2007
74 06/07 ANNUAL REPORT 75
2007
$’000
Opening Equity –
Profit/(Loss) for the year –
Balance at the end of the financial year –
The accompanying notes form part of these financial statements.
SYDNEY CRICKET & SPORTS GROUND TRUST
SYDNEY CRICKET & SPORTS GROUND TRUST DIVISION
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD
17 MARCH 2006 TO 28 FEBRUARY 2007
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
(a) Reporting Entity
The Trust Division, is a Division of the Government service, established pursuant to Part 2 of Schedule 1 to the
Public Sector Employment and Management Act 2002. It is a not-for-profit entity as profit is not its principal
objective. It is consolidated as part of the NSW Total State Sector Accounts. It is domiciled in Australia and
its principal office is at Moore Park, Paddington, NSW 2021.
The Entity’s objective is to provide personnel services to the Trust.
The Entity commenced operations on 17 March 2006 when it assumed responsibility for the employees and
employee-related liabilities of the Trust. The assumed liabilities were recognised on 17 March 2006 together
with an offsetting receivable representing the related funding due from the former employer.
The Division’s Financial Report for the period ended 28 February 2007 has been authorised for issue by
the Trust on 20 June 2007.
(b) Basis of Preparation
This is a general purpose financial report prepared in accordance with the requirements of Australian
Accounting Standards, the Public Finance and Audit Act 1983, the Public Finance and Audit Regulation 2005,
and specific directions issued by the Treasurer.
This is the first financial report prepared on the basis of Australian equivalents to International Financial
Reporting Standards.
Generally, the historical cost basis of accounting has been adopted and the financial report does not take into
account changing money values or current valuations. However, certain provisions are measured at fair value.
The accrual basis of accounting has been adopted in the preparation of the financial report, except for cash
flow information.
Management’s judgements, key assumptions and estimates are disclosed in the relevant notes to the
financial report.
All amounts are rounded to the nearest one thousand dollars and are expressed in Australian currency.
(c) Comparative Information
As this is the Entity’s first financial report, comparative information for the previous year is not provided.
(d) Revenue Recognition
Revenue is measured at the fair value of the consideration received or receivable. Revenue from the rendering
of personnel services is recognised when the service is provided and only to the extent that the associated
recoverable expenses are recognised.
SCG12873_FinancialsD_24.08.07 15/10/07 1:39 PM Page 74
(g) Employee Benefits continued
In accordance with the Australian Accounting Standard AASB 119 “Employee Benefits” liabilities arising
in respect of wages and salaries, annual leave and any other employee benefits expected to be settled within
twelve months of the reporting date are measured at their nominal amounts based on remuneration rate which
are expected to be paid when the liability is settled. All other employee benefit liabilities are measured at the
present value of the estimated future cash outflows to be made in respect of services provided by employees
up to the reporting date. In determining the present value of future cash outflows, the market yield on national
government bonds, which have terms to maturity approximating the terms of the related liability are used.
The provisions for leave entitlements also include the relevant on-costs.
Superannuation – the Trust as an employer also contributes in respect of the compulsory basic benefit and
superannuation guarantee levy to respective external superannuation funds as required by legislation.
Liabilities for superannuation are actuarially determined and contributions made to superannuation funds
are charged against the provision. The Trust’s superannuation prepayment as at 28 February 2007 has been
calculated and advised by Pillar Administration.
2. EMPLOYEE EXPENDITURE
2007
$’000
Salaries & Wages 7,736
Annual Leave/Long Service Leave 549
Payroll Tax 606
Workers Compensation Insurance 110
Other 159
9,160
3. RECEIVABLES
Current
Parent Entity – the Trust 1,408
1,408
Non-Current
Superannuation Prepayment 561
561
SYDNEY CRICKET & SPORTS GROUND TRUST DIVISION
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD
17 MARCH 2006 TO 28 FEBRUARY 2007
76 06/07 ANNUAL REPORT 77
(e) Receivables
A receivable is recognised when it is probable that the future cash inflows associated with it will be realised
and it has a value that can be measured reliably. It is derecognised when the contractual or other rights to
future cash flows from it expire or are transferred.
A receivable is measured initially at fair value and subsequently at amortised cost using the effective interest
rate method, less any allowance for doubtful debts. A short-term receivable with no stated interest rate is
measured at the original invoice amount where the effect of discounting is immaterial. An invoiced receivable
is due for settlement within thirty days of invoicing.
If there is objective evidence at year-end that a receivable may not be collectable, its carrying amount is
reduced by means of an allowance for doubtful debts and the resulting loss is recognised in the income
statement. Receivables are monitored during the year and bad debts are written off against the allowance
when they are determined to be irrecoverable. Any other loss or gain arising when a receivable is derecognised
is also recognised in the income statement.
(f) Payables
Payables include accrued wages, salaries, and related on-costs (such as payroll tax, fringe benefits tax and
workers’ compensation insurance) where there is certainty as to the amount and timing of settlement.
A payable is recognised when a present obligation arises under a contract or otherwise. It is derecognised
when the obligation expires or is discharged, cancelled or substituted.
A short-term payable with no stated interest rate is measured at historical cost if the effect of discounting
is immaterial.
(g) Employee Benefits
Provision is made for annual leave and long service leave estimated to be payable to employees as at
28 February 2007.
Liabilities for salaries and wages (including non-monetary benefits) and annual leave are recognised and
measured in respect of employees’ services up to the reporting date at nominal amounts based on the
amounts expected to be paid when the liabilities are settled.
Unused non-vesting sick leave does not give rise to a liability, as it is not considered probable that sick leave
taken in the future will be greater than the benefits accrued in the future. Benefits for Rostered Days Off
(RDOs) have not been accrued, as the Trust policy is not to cash out these balances.
Benefits for long service leave and annual leave have been provided on the basis of emerging entitlements
for recognised service for long service leave, and quantum due at balance date for annual leave.
SYDNEY CRICKET & SPORTS GROUND TRUST
SYDNEY CRICKET & SPORTS GROUND TRUST DIVISION
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD
17 MARCH 2006 TO 28 FEBRUARY 2007
SCG12873_FinancialsD_24.08.07 15/10/07 1:39 PM Page 76
(ii) Movement of the assets and liabilities recognised in the Balance Sheet:
SASS SANCS
2007 2007
$ $
Net asset/(liability) at start of year 309,719 1,500
Net income/(expense) recognised
in the income statement 234,412 15,929
Net asset/(liability) at 28 February 2007
to be disclosed in the Balance Sheet 544,131 17,429
(iii) Actual Return on Fund Assets:
SASS SANCS
2007 2007
$ $
Actual return on Fund assets 291,191 27,601
(iv) Economic assumptions
28 February 2007
%
Salary increase rate
(excluding promotional increases) 4.0 pa to June 2008;
3.5 pa thereafter
Rate of CPI increase 2.5
Expected rate of return on assets 7.6
Discount rate 5.8
SYDNEY CRICKET & SPORTS GROUND TRUST DIVISION
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD
17 MARCH 2006 TO 28 FEBRUARY 2007
78 06/07 ANNUAL REPORT 79
Superannuation Prepayment
A number of Trust employees are Members of the State Authorities Superannuation Scheme (SASS) and the
State Authorities Non-Contributory Superannuation Scheme (SANCS). All Members are entitled to benefits on
retirement, disability or death. The superannuation plans are administered by Pillar Administration (formerly
the Superannuation Administration Corporation) and provide defined benefits based on years of service and
final average salary. Employees contribute to the plans at various percentages of their wages and salaries.
The Trust also contributes to the plans.
These schemes are all defined benefit schemes – at least a component of the final benefit is derived from
a multiple of member salary and years of membership. All the Schemes are closed to new members.
Actuarial gains and losses are recognised in profit or loss in the year they occur. The Pooled Fund holds
in trust the investments of the closed NSW Public Sector Superannuation Schemes: State Authorities
Superannuation Scheme (SASS) and State Authorities Non-Contributory Superannuation Scheme (SANCS).
Pillar Administration (Pillar) has advised the level of estimated superannuation surplus at 28 February 2007.
The economic assumptions used to calculate the superannuation asset of both defined benefit schemes are
those used for Mercer’s 2003 triennial valuation of the schemes listed below.
(i) Reconciliation of the assets and liabilities recognised in the Balance Sheet:
SASS SANCS
2007 2007
$ $
Present Value of Defined Benefit Obligations (1,678,739) (196,526)
Fair Value of Plan Assets 2,222,870 213,955
Net asset/(liability) at 28 February 2007
to be disclosed in the Balance Sheet 544,131 17,429
SYDNEY CRICKET & SPORTS GROUND TRUST
SYDNEY CRICKET & SPORTS GROUND TRUST DIVISION
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD
17 MARCH 2006 TO 28 FEBRUARY 2007
SCG12873_FinancialsD_24.08.07 15/10/07 1:39 PM Page 78
7. FINANCIAL INSTRUMENTS
(i) Interest Rate Risk
The Trust’s exposure to interest rate risk, and the effective interest rates on financial instruments at balance
date are:Fixed Interest Rate Maturities
Weighted
Average
Effective Floating Non
Interest Interest 1 Year 1 to 5 Over 5 Interest Balance
Rate Rate or less Years Years Bearing Total Sheet
% $’000 $’000 $’000 $’000 $’000 $’000 $’000
28 February 2007
Assets
Receivables – – – – 1,408 1,408 1,408
Total Financial Assets – – – – 1,408 1,408 1,408
Liabilities
Payables – – – – 288 288 288
Total Financial Liabilities – – – – 288 288 288
Net Financial Assets (Liabilities) – – – – 1,120 1,120 1,120
(ii) Credit Risk
All financial assets are unsecured.
The carrying amounts of financial assets included in the Balance Sheet represent the Trust Division’s
maximum exposure to credit risk in relation to these assets. Where entities have a right of set-off and
intend to settle on a net basis, this set-off has been reflected in the financial statements in accordance
with accounting standards.
(iii) Derivative Financial Instruments
The Trust Division holds no Derivative Financial Instruments.
(iv) Net Fair Values
Financial Instruments are carried at cost.
The resultant values are reported in the Balance Sheet and are deemed to constitute net fair values.
SYDNEY CRICKET & SPORTS GROUND TRUST DIVISION
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD
17 MARCH 2006 TO 28 FEBRUARY 2007
80 06/07 ANNUAL REPORT 81
4. PAYABLES
2007
$’000
Current
Accrued salaries, wages and on-costs 288
288
5. PROVISIONS
Current
Annual Leave 1,030
Long Service Leave 651
Total Employee Related Provisions 1,681
6. EMPLOYEE BENEFITS
Liability
The aggregate employee benefit liability recognised and included in the financial statements is as follows:
Accrued salaries and wages 74
Provision for employee benefits:
Current (note 5) 1,681
Non-Current –
1,681
Total employee benefits liability 1,755
SYDNEY CRICKET & SPORTS GROUND TRUST
SYDNEY CRICKET & SPORTS GROUND TRUST DIVISION
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD
17 MARCH 2006 TO 28 FEBRUARY 2007
SCG12873_FinancialsD_24.08.07 15/10/07 1:39 PM Page 80
INITIAL BUDGET OF INCOME AND EXPENDITURE
FOR THE YEAR ENDED 28 FEBRUARY 2007 AND OUTLINE
BUDGET FOR THE YEAR ENDING 29 FEBRUARY 2008
82 06/07 ANNUAL REPORT 83SYDNEY CRICKET & SPORTS GROUND TRUST
8. NEW AUSTRALIAN ACCOUNTING STANDARDS ISSUED BUT NOT EFFECTIVE
(i) The Trust did not early adopt any new Accounting Standards that are not yet effective.
(ii) The following new Accounting Standards have not been applied and are not yet effective:
• AASB 7 Financial Instruments: Disclosures (1 January 2007)
• AASB 101 Presentation of Financial Statements (1 January 2007)
• AASB 1049 Financial Reporting of General Government Sectors by Governments (1 July 2008)
• AASB Interpretation 4 Determining whether an Arrangement contains a Lease (revised) (1 January 2008)
• AASB Interpretation 7 Applying the Restatement Approach under AASB 129 Financial Reporting in
Hyperinflationary Economies (1 March 2006)
• AASB Interpretation 8 Scope of AASB 2 (1 May 2006)
• AASB Interpretation 9 Reassessment of embedded derivatives (1 June 2006)
• AASB Interpretation 10 Interim Financial Reporting and Impairment (1 November 2006)
• AASB Interpretation 11 AASB 2 Group and Treasury Share transactions (1 March 2007)
• AASB Interpretation 12 Service Concession Arrangements (1 January 2008)
• AASB Interpretation 129 Service Concession Arrangements: Disclosure (revised) (1 January 2008)
The Trust has assessed the impact of these new Standards and Interpretations and considers the impact
to be insignificant.
END OF AUDITED FINANCIAL STATEMENTS
Budget Actual Budget
2006/07 2006/07 2007/08
$’000 $’000 $’000
REVENUE
Event and Venue Hire Fees 6,637 9,247 6,133
Catering 14,959 15,453 13,699
Premium Seating 5,734 8,592 5,779
Membership Fees 13,239 15,337 14,840
Private/Corporate Box Rental 3,882 4,637 4,075
Advertising and Sponsorship 5,646 5,837 4,976
Interest 220 488 120
Superannuation Fund Valuation Surplus – 254 –
Other 6,835 5,261 10,393
Total Revenue 57,152 65,106 60,015
EXPENDITURE
Event Operating Costs 9,064 10,275 9,951
Catering Expenses 7,534 7,587 6,880
Premium Seating 5,469 7,217 3,901
Staff Related Expenses 11,657 12,296 12,554
Administration and Related Expenses 4,318 5,825 5,486
Ground Operation and Maintenance 5,895 6,771 6,612
Membership Redemptions – 16 –
Depreciation 5,289 7,258 5,800
Borrowing Costs 605 528 2,342
Marketing 2,075 1,797 1,617
Superannuation Fund Allocation – – –
Provisions 1,355 – –
Loss on Disposal of Assets 25 37 50
Total Expenditure 53,286 59,607 55,193
PROFIT/(LOSS) 3,866 5,499 4,822
SYDNEY CRICKET & SPORTS GROUND TRUST DIVISION
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD
17 MARCH 2006 TO 28 FEBRUARY 2007
SCG12873_FinancialsD_24.08.07 15/10/07 1:39 PM Page 82
ETHNIC AFFAIRS
PRIORITIES STATEMENT
84 06/07 ANNUAL REPORT 85SYDNEY CRICKET & SPORTS GROUND TRUST
Strategy 1:
Customer Service Training
Provide customer service training for staff that
offers strategies for effective communication with
people who are unable to speak fluent English.
Strategy 2:
Utilise Language Skills of Staff
Assess and manage the language skills of
staff such that they can be used for the benefit
of patrons who have difficulty with English.
Strategy 3:
Use of Symbols on Venue Directories
Create venue directories for patrons in forms
that make maximum use of internationally
recognised symbols in place of words.
Strategy 4:
Broader Range of Catering Cuisine
Maximise the range of catering cuisine
available in the venues.
Strategy 5:
Observance of Religious Festivals
Respect and support any special individual
requirements during religious festivals.
Strategy 6:
Community Education Initiatives
Reach out to all cultures in the community to
educate them about the history and operation
of the SCG and Aussie Stadium.
In the 12-month period of this report, the
Trust has shown particular consideration
of multicultural issues:
• New venue signage – symbols have been
incorporated as much as possible in production
of new signs for the SCG and Aussie Stadium.
• SCG Tour Experience – thousands of schools
and community groups participated in venue
tours of the SCG and Aussie Stadium.
• Updating of the venue information maps to include
more recognisable symbols to facilities and spaces
within Aussie Stadium.
• Staff training – Emergency Evacuation Exercise
at the SCG (December 2006).
• Specific customer service training for all Event
staff in the lead up to the Ashes Test Match.
In the next 12-month period the Trust will
continue to show consideration of multiculturalism
in all aspects of its business, with emphasis on
good training for staff so they will act in accordance
with the Trust’s multicultural strategies.
The Trust’s Ethnic
Affairs Priorities
Statement (EAPS) has
been prepared to comply
with the Ethnic Affairs
policy requirements of
the NSW Government.
The NSW Government’s principles
of multiculturalism are included
in the Community Relations
Commission and Principles
of Multiculturalism Act 2000.
The Trust is committed to the
principles of multiculturalism, and
reviews its practices in terms of
leadership, community harmony,
cultural diversity, access, equity
and economic opportunity.
The Trust’s objective is to
improve the multicultural service
capacity of the Trust’s venues.
This is being achieved through
the following strategies:
SCG12873_SectionE_24.08.07 15/10/07 1:41 PM Page 84
CODE OF CONDUCT
86 06/07 ANNUAL REPORT 87
In accordance with the NSW Public
Sector Code of Conduct the Trust
has formalised a suitable Code of
Conduct for its employees at the
SCG and Aussie Stadium, and its
contracted activities. The Code
of Conduct sets standards of
behaviour expected by Trust
management and staff and is a
guide to dealing with ethical issues.
The Code of Conduct requires staff
to behave with integrity, honesty,
loyalty to the public interest, fairness,
conscientiousness and compassion.
Staff are advised that they
should be familiar with their
responsibilities in their employment
positions and that breach of
standards and obligations may
involve criminal offence, breach
of discipline or dismissal.
Principles
The public have the right to expect
to be treated fairly, reasonably and
equitably by the Trust and its staff.
The government expects Trust staff
to implement government and Trust
policies effectively and efficiently.
Staff have the normal rights of
employees under common law
and within relevant legislation.
Personal andProfessional Behaviour
Staff, in performance of their
duties, should act professionally
and conscientiously and –
• Provide all necessary assistance
and deal courteously with
Members, the general public
and corporate clients.
• Keep up-to-date with areas
of their expertise by reviewing
circulated information and
through ongoing training.
• Comply with government
policy, legislative, industrial or
administrative requirements.
• Ensure they do not harass or
discriminate in their work
practices in dealing with fellow
staff or members of the public.
• Report to a supervisor
any unethical behaviour
or wrong doing.
Conflicts of Interest
Staff should avoid any financial
or other undertaking that could
directly or indirectly compromise
the performance of their duties.
The responsibility is on each
member of staff to notify a senior
officer if a potential or actual
conflict of interest arises.
Acceptance of Gifts or Benefits
No staff member should accept
a gift or benefit which could be
acknowledged as an inducement
to the staff member to deviate
from the proper course of duty.
Token gifts may only be accepted
in circumstances approved by the
Chief Executive Officer where there
is no possibility of the recipient staff
member being compromised.
All gifts must be recorded
in the Trust’s gift register.
Fairness and Equity
In dealing with issues or cases
staff are obligated to treat each
matter promptly, consistently
and fairly, in accordance with
approved procedures and without
discrimination on any grounds.
Public Comment and the Use of OfficialInformation
Staff, as Members of the
community, have the right to make
public comment either verbally or
in writing on political or social
issues, however there are some
cases where these comments
may be inappropriate.
This would arise where comments
made could be perceived in some way
as an official comment of the Trust
or government or may be sufficiently
strong to be seen as criticism of
Trust or government policies.
Staff should therefore refrain from
public comments which disclose
information not normally provided
to the general public. Comments
made should be confined to factual
information and not express an
opinion on Trust policy or practice.
Use of Trust Facilities and Equipment
When using Trust resources staff
should do so with efficiency and
economy. Trust property and
services should not be treated
with abuse by staff or others.
Only when official permission
has been obtained may staff use
the Trust’s equipment or facilities
for other purposes.
Political Participation
Staff need to ensure that their
participation in political matters
does not bring them into conflict
with their duties with the Trust or
the government of the day. In the
workplace they should maintain
political neutrality in carrying
out their duties.
Corrupt Conduct
Staff should immediately report
to their Supervisor any corrupt
practice, theft or unethical act
observed in the workplace. Any
perceived security or safety issue
of risk to the staff member, the
Trust or others should be reported.
Confidentiality ofPersonal Information
Staff are entitled to confidentiality
and privacy with respect to
information which is personal to
them. Staff have a duty to maintain
the confidentiality, integrity and
security of such information to
which they have access in the
normal course of their duties.
Disclosure of Information
The Trust is entitled to the
protection and integrity of
the information it holds. Staff
should only release information
that they are authorised to release
in the course of their duties. Staff
should not release information
in a manner which is misleading
or which is likely to be misused.
To protect the integrity of official
Trust information, any Trust
information released by staff
will not have attached to it any
expression of opinion on official
Trust policy or practice.
SYDNEY CRICKET & SPORTS GROUND TRUST
SCG12873_SectionE_24.08.07 15/10/07 1:41 PM Page 86
COMPLAINTS HANDLING/PRIVACY POLICY
88 06/07 ANNUAL REPORT 89
Complaints Handling
Trust permanent and casual staff,
as part of their training, specifically
learn of procedures for handling of
complaints over the telephone or
in person.
Staff are advised of the five key
steps in responding to complaints.
• Listen and be open-minded:
staff are advised to show that the
complaint is being taken seriously.
• Respond with concern:
staff should show empathy
and demonstrate their
understanding of the complaint.
• Determine an action based on
authority: staff should refer to
established policy and procedures
to determine an appropriate
action; staff should seek the
assistance of more senior
personnel should additional
confirmation be required.
• Take action promptly: staff
are to seek assistance if too
busy; staff should take
responsibility to immediately
address the complaint and to
prompt the action determined.
• Follow up: staff should
determine that the complainant
is satisfied that the action taken
was prompt, fairly determined,
within policy guidelines or subject
to review by a more senior officer.
Staff are advised that they should
express regret to the complainant
where the Trust has been unable
to fulfil a commitment made to
the customer; where the customer
claims the organisation has made
a mistake; if the customer has
made an evidently justifiable
complaint or where the customer
has been the recipient of obviously
poor service.
Privacy Policy
The Trust understands that privacy
is very important and that all Trust
user groups (staff, Members, Sports
Partners, media etc) have the right
to control their personal information.
The Trust undertakes to act with
integrity at all times when dealing
with information entrusted to this
organisation.
Personal Details
Home addresses, e-mail addresses,
telephone numbers, fax numbers
and other details submitted to the
Trust are treated with the utmost
privacy. The Trust will not make
any information available to any
external party without the consent
of the person/s concerned unless:
• required by law;
• we believe it necessary to
provide the person/s with
a service requested;
• to implement our terms of use;
• to protect the rights or property
of the Trust, any Trust user,
or any member of the public;
• to lessen a serious threat to
a person’s health or safety.
The Trust will comply with
any request from individuals to
remove information about them,
unless the information is required
to fulfill an existing service
obligation to them. You can contact
our privacy officer by e-mail on
[email protected] or by
telephone on (02) 9360 6601.
Website Usage Information
When you access the Trust website,
our internet service provider (ISP)
logs the following information for
standard statistical analysis:
• The server address of the ISP.
• The date and time of the visit.
• The pages accessed.
• The type of browser being used.
• The statistics package provided
by our ISP collates the data into
information and graphs for use in
understanding the usage patterns
of visitors to the website.
The statistics package does not
identify any individual user during
this process.
Cookies
The Trust website use cookies.
Cookies are small text files that are
automatically placed on a user’s
computer. Cookies themselves
do not personally identify users,
although they do contain a unique
identifier which allows the website
to customise content based on
a user’s previous selections, type
of browser or type of computer.
E-Commerce Transactions
Users should be aware that there
are inherent risks in transmitting
information across the internet.
Information submitted when
engaging in an online transaction
with the Trust is passed through
a registered secure server.
The registered secure server
used by the Trust makes use
of all available protective
processes for the security
of e-commerce information.
SYDNEY CRICKET & SPORTS GROUND TRUST
CODE OF CONDUCT
CONTINUED
Protected Disclosures
The Protected Disclosures Act of 1994
provides for avenues by which staff
can make protected disclosures. To
be protected by the Act, a disclosure
must be made to an investigating
authority, the Chief Executive Officer
or the General Manager, Corporate
Services in accordance with the
internal reporting system established
under Internal Reporting Policy,
Protected Disclosures Act 1994.
Dress Standard/Uniforms
Where the Trust policy encourages
the wearing of a standard of dress,
uniform, protective clothing or
identification for reason of public
image or safety requirements,
staff will be required to meet
the appropriate directions.
Video Surveillance
All Trust personnel movements
upon entering Aussie Stadium or
Sydney Cricket Ground premises
will be subject to monitoring by
closed circuit television. This is
a provision of the procedures
and risk management strategies
operating within the workplace.
Outside Employment
Approval of the appropriate
General Manager is required
before staff may engage in any
form of paid employment outside
their official duties. In all cases
when outside employment is
considered, staff should give
the Trust first consideration.
Equal EmploymentOpportunity/SexualHarassment PolicyStatement
The Trust has adopted the Sexual
Harassment Policy whereby it will
not tolerate sexual harassment and
is committed to equal opportunity
and the assurance that employment
policies and practices are based
on the principle of merit.
Occupational Health and Safety
The Trust will provide healthy and
safe workplaces. It will take all
practicable actions to identify,
evaluate and control those factors
in the workplace which cause, or
have the potential to cause, injury
or ill health.
Misconduct Policy
Failure to abide by the Trust’s code
of conduct will result in disciplinary
action ranging from a warning
(verbal or written) to termination,
depending on the nature of the
offence. This issue is addressed
separately in the Trust’s
Misconduct Policy.
Acceptable Use of the Internet andElectronic Mail
Staff, in the performance of their
duties, will have cause to utilise the
computer equipped work stations
and the services accessible to them.
Services include the internet and
electronic mail. The acceptable use
of these services is addressed in
a separate standard, Standards
for Acceptable Use of the Internet
and Electronic Mail.
Use of Trust Records
Staff are required to comply
with the Trust policy on records
management, which has been
established to meet requirements
and regulations of the NSW State
Records Act 1998.
SCG12873_SectionE_24.08.07 15/10/07 1:41 PM Page 88
TRUST CHARTER AND CONSTITUTION
90 06/07 ANNUAL REPORT 91
Charter: Sydney Cricket& Sports Ground Act,1978 No. 72.
The Trust was constituted under
this Act and is charged with the
care, control and management
of the scheduled lands dedicated
for public recreation.
The Trust may allow the scheduled
lands or any part thereof to be used
by persons, clubs, associations,
leagues or unions at such times
and on such terms and conditions
as the Trust may think fit and proper
for cricket, football, athletics, public
amusement or any other purpose
which the Minister may approve.
The Trust may carry out works for
the improvement, development and
maintenance of the Trust lands
including the redesigning of areas,
the construction of any building or
structure on the Trust lands, and
provision of stands and other
accommodation for spectators
frequenting the Trust lands.
Constitution of the Trust
Under Section 5(2), the Trust
shall have and may exercise and
perform the functions conferred
or imposed on it by or under the
Act and shall in the exercise or
performance of its functions,
be subject to the control and
direction of the Minister for
Sport and Recreation.
The Trust consists of 15 members,
13 appointed by the Governor and
two elected by Gold and SCG
Members. Each Trustee is
appointed for a term of up
to four years.
Our Vision
“The Trust will be the finest
venue, membership and event
management organisation
in Australia.”
Trust Values
The Trust is guided by a strong
commitment to six core values.
1. Knowing and celebrating
our history and preserving the
best traditions of sport and
our grounds.
2. Following high ethical standards,
fairness and integrity.
3. Maintaining a close and
positive relationship with our
Members, Sports Partners,
the government and the
wider sporting community.
4. Innovation that delivers strong
commercial outcomes.
5. Resourceful and disciplined
management in order to secure
continued financial viability for
the Trust.
6. Valuing and developing our staff
and ensuring a happy, safe and
productive workplace.
SYDNEY CRICKET & SPORTS GROUND TRUST
In NSW, the Freedom of Information
Act 1989 provides the right to:
• access information held as
records by State Government
Agencies, a Government
Minister, local government
and other public bodies;
• request amendments to
records of a personal nature
that are inaccurate; and
• appeal against a decision not
to grant access to information
or to amend personal records.
There have been no requests
for information under Freedom
of Information provisions during
the year to 28 February 2007.
In accordance with the Freedom
of Information Act 1989, members
of the public may seek information
or enquire in person, by mail or
by telephone, as follows:
FREEDOM OF INFORMATION
Location: Trust Office, Gold Members Car Park, Driver Avenue,
Moore Park NSW 2021
Postal Address: GPO Box 150, Sydney NSW 2001
Hours of Access: 9.00am to 5.00pm, Monday to Friday
Telephone: (02) 9360 6601
Facsimile: (02) 9360 1319
FOI Officer: Mr Bernie Lamerton, General Manager – Corporate Services
Fees and charges are as follows:
Nature of Application Application Fee Processing Charge
Access to records by persons $30 $30/hour after first 20 hours*
about their personal affairs
All other requests $30* $30/hour
Internal review $40** NIL
Amendment of records NIL*** NIL
* Subject to 50% reduction for financial hardship and public interest reasons.
** No application fees may be charged for internal reviews in relation to amendment of records.
*** Refunds may apply as a result of successful internal reviews and applications for amendment of records.
SCG12873_SectionE_24.08.07 15/10/07 1:41 PM Page 90
92 06/07 ANNUAL REPORT SYDNEY CRICKET & SPORTS GROUND TRUST
During the period 1 March 2006 to 28 February 2007, attendances by Trustees at the Grounds and Event Services
Committee, Finance Committee, Management Committee, Audit Committee and Trust meetings are set out below.
The number of meetings held were: 4 Grounds and Event Services Committee, 4 Finance Committee, 2 Management
Committee, 1 Audit Committee and 11 Trust meetings.
Grounds &
Trustee Event Services Finance Management Audit
Attendance Committee Committee Committee Committee Trust
Mr R M Cavalier, AO 3 1 1 11
Mr E J Cloney 2 3 2 7
Mr K W Catchpole, OAM 4 1 10
Ms K Chikarovski 3 10
Hon M A Cleary, AO 4 9
Mr P Green 1 6
Ms C Harris, AO PSM 3 9
Mr A B Jones, AO 6
Mr G F Lawson, OAM 2 9
Mr C W Love, AM LLB 3 11
Mr J A McCarthy, QC 4 11
Mr R H McGeoch, AM LLB 4 1 7
Ms K Schofield 3 2 8
Mr A F Shepherd 4 9
Mr P H Warren 3 1 10
TRUST MEETINGS INDEX
Audited Financial Statement and Notes ........................................................................... 46
Business Development ...................................................................................................... 28
Chairman’s Report ............................................................................................................ 2
Code of Conduct ................................................................................................................. 86
Commercial and Operations ............................................................................................. 24
Complaints Handling/Privacy Policy ................................................................................. 89
Corporate Services/Financial Report ............................................................................... 32
Ethnic Affairs Priorities Statement ................................................................................... 84
Financial Indicators ........................................................................................................... 43
Freedom of Information ..................................................................................................... 90
Independent Audit Report ................................................................................................. 44
Information Technology ..................................................................................................... 38
Managing the Assets ......................................................................................................... 18
Managing the Events ......................................................................................................... 6
Marketing and Membership .............................................................................................. 26
Minister’s Foreword ........................................................................................................... 1
Organisational Chart .......................................................................................................... 39
Statement by Members of the Trust ................................................................................. 45
Trust Charter and Constitution ......................................................................................... 91
Trustees .............................................................................................................................. 40
Trust Meetings ................................................................................................................... 92
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