tsvent-web.s3.amazonaws.com · Affordable energy is one such area that increasingly will be a key...

A more prosperous Townsville and North Queensland, a stronger Australia.

Townsville Enterprise Limited

ANNUAL REPORT2013/14

CONTENTS

TOWNSVILLE ENTERPRISE LIMITED

BOARD OF DIRECTORS

COMMITTEES

CHAIRMAN’S REPORT

OVERVIEW

MEMBERS LIST 2013/14

REGIONAL STATISTICS

ECONOMIC DEVELOPMENT

COLLATERAL

TOURISM AND EVENTS

TOWNSVILLE ENTERPRISE TRACTION

FINANCIAL REPORT

03

04

05

07

09

10

14

17

19

21

26

28

Townsville Enterprise Limited | Annual Report 2013/14

Principal Partner Major Partner

03

TOWNSVILLE ENTERPRISE LIMITED

STATEMENT OF INTENTA more prosperous Townsville and

North Queensland, a stronger Australia

MISSIONTo achieve sustainable economic and lifestyle benefits for Townsville, North Queensland and Australia.

Townsville Enterprise is the voice of industry

and business.

VALUES• Leadership• Innovation, customer focus and commercial

orientation• Vision, initiative and responsiveness to the

here and now• Collaborative and productive working

relationships• A productive, sustainable environment• Honesty and credibility• Professionalism• Breadth of experience and heritage

STRATEGIC PRIORITIES• Regional development and investment

attraction• Capability and capacity development• Infrastructure• Visitor attraction and services• Profile and reputation• Organisational development and performance

04 Townsville Enterprise Limited | Annual Report 2013/14

CHAIRMAN Kevin GillChief Operating OfficerTownsville Airport Pty Ltd & Aviex Pty Ltd

Ranee CrosbyChief Executive OfficerPort of Townsville Limited

Laurence LanciniManaging DirectorLancini Group of Companies

DEPUTY CHAIRMAN Councillor Jenny HillMayorTownsville City Council

Professor Sandra HardingVice-Chancellor and PresidentJames Cook University

Helen Stanton DirectorErgon Energy Corporation Limited

COMPANY SECRETARYMichelle Warrington

Joe CareyDirectorCarey Accountants Pty Ltd

Peter HoneycombeManaging DirectorHoneycombes Property Development Group

Paul VictoryGeneral Manager

SeaLink Queensland Pty Ltd

BOARD OF DIRECTORS


FINANCE AUDIT & RISK COMMITTEE

Joe CareyCarey Accountants Pty Ltd (Chair)

Kevin GillTownsville Airport Pty Ltd & Aviex Pty Ltd

Peter DuffyWilson/Ryan/Grose

Aileen CullQueensland Country

Luke GuazzoLancini Property & Development

Observer: Patricia O’CallaghanTownsville Enterprise Limited

Observer: Michelle WarringtonFinancial Advisor/Company Secretary

TOURISM AND EVENTS STRATEGIC ADVISORY COMMITTEE

Paul Victory SeaLink Queensland Pty Ltd (Chair)

Fred Nucifora Reef HQ Aquarium

Isabelle Yates Townsville Airport Pty Ltd

Jeff Jimmieson Townsville City Council

Associate Professor Laurie Murphy James Cook University

Lindsay Simpson Tourism Operators and Businesses Magnetic Island (TOBMI)

Ross McLennan Hidden Valley Cabins & Tours

Simon MillcockTownsville City Council

Ruth Prideaux Mecure Townsville

Steve Mitchell NQ Toyota Cowboys

Sue Hackett Australian Festival of Chamber Music

Troy Scott Grand Hotel Patricia O’Callaghan Townsville Enterprise Limited

Observer: Kimberley Goulter Tourism and Events Queensland

Observer: June PowellDepartment of State Development, Infrastructure & Planning

ECONOMIC DEVELOPMENT STRATEGIC ADVISORY COMMITTEE

John Bearne Townsville Hospital and Health Service (Chair) Ranee Crosby Port of Townsville Limited

Glen Graham MITEZ

Peter Lindsay Associate Member

Simon MillcockTownsville City Council

Stephen Motti Brazier Motti

Stuart Cunningham Core Developments NQ

Sean Ryan News Limited

Patricia O’Callaghan Townsville Enterprise Limited

Tracey Lines Townsville Enterprise Limited

Observer: Doug Haywood Department of State Development, Infrastructure & Planning

COMMITTEES

05


Transitioning our economy through the end of Australia’s

longest ever mining boom is increasingly important.

What are the industries of the future? Who will be our target

markets? How will these fit with the Federal Government’s

Northern Australia Strategy?


‘A more prosperous Townsville and North Queensland, a stronger Australia.’

Our statement of intent has never been more important in Townsville Enterprise’s 23 year history as this city and region works through a challenging economic period. It sets the agenda very clearly on what the organisation’s focus is – shaping the decisions that drive the prosperity of this city and region.

There is much call for governments to create prosperity, but the reality is that the private sector generally does this. Governments support this by ensuring that in their core role of delivering roads, schools and hospitals they do this efficiently whilst providing a supportive environment that gives business and families the confidence to invest and spend.

Where governments can directly assist is through the provision of critical infrastructure. Affordable energy is one such area that increasingly will be a key focus of Townsville Enterprise’s advocacy strategy. The issues surrounding electricity may be complex, but what isn’t is an 80 % increase in electricity costs over five years, and that is what counts – directly reducing profits, families discretionary income and ultimately jobs.

Through the delivery of the federally funded North and Northwest Queensland Sustainable Resource Feasibility Studies, Townsville Enterprise has started the debate on the need for our own energy supply here in North Queensland. This debate has been extended to suggest ways to harness that other precious resource, water, to potentially unleash productive land for agriculture. These important matters need further discussion with all levels of government. These are potentially catalytic projects to drive the next phase of the region’s economic growth.

Transitioning our economy through the end of Australia’s longest ever mining boom is increasingly important. What are the industries of the future? Who will

be our target markets? How will these fit with the Federal Government’s Northern Australia Strategy? These are some of the many issues that need debating.

“Northern Australia lies at the intersection of the two great axes of global growth – the Asian axis which everyone is seeing and the tropical axis which fewer are seeing.” “The future of Australia – and the key opportunities for northern Australia – are tightly linked to growth in the Tropics as well as in Asia.” (Professor Sandra Harding 2014). Clearly within this context, our alignment within the world’s fastest growing region must be important. This infers closer engagement across cultures to understand how we can meet the rapidly rising middle classes needs for food, education, tropical medicine, education and travel experiences to name a few.In this regard, the importance of James Cook University cannot be understated. It is not only a world leader in tropical science but also ensures a steady pipeline of intellectual capital to generate many of the ideas that will shape our economic future.

It is a fact that Townsville as a city has come of age in the last 20 years. Fabulous facilities like The Strand and Jezzine Barracks are now complemented by first class dining and shopping experiences. Our urban areas are becoming increasingly attractive due to sensible planning decisions and our schools, our hospital and our leisure facilities are vastly improved.

However, with a forecasted population of300,000 by 2030, there is much more thatneeds to be done. The next infrastructuregame changer projects for the region must focus on the continued revitalisation of the inner city.

In this regard Townsville Enterprise supports the development of an integrated stadium and entertainment centre and an upgrade of the adjoining pathways along Ross River.

These projects fit perfectly with Townsville Enterprise’s consistent and proven strategy for Townsville North Queensland to become Northern Australia’s capital for major events. This strategy adds more visitor numbers, injects cash into the economy and creates jobs. The region’s unique selling point is that we have three outstanding national sports teams and a well established pipeline of quality events, which provide the platform we plan to build upon.

These projects are expensive, will require significant funding, and therefore need a phased approach. Townsville Enterprise will work with all levels of government to make them a reality in the years ahead.

The 2013/2014 financial results reflect a $252,834 surplus. Cash reserves remain strong due to a number of one-off favourable events and prudent financial management under the guidance of Management supported by the Finance Audit & Risk Committee led by Chairman Joe Carey.

Townsville Enterprise would not be in this strong position without the support of its valuable Members, and in particular, the support of its Principal Partner, Townsville City Council. We continue to work shoulder to shoulder with the Townsville City Council, Regional Councils and the Townsville Chamber of Commerce to achieve results.

I also recognise and thank our voluntary Board of Directors. Without a doubt it is this group’s commitment and capability that has ensured the organisation’s reputation for making things happen. This city is all the better for their energy and passion.

In this regard I wish to thank retiring Directors John Bearne (5 years 5 months) and Jon Van Grinsven (5 years 3 months) for their contributions to the Board. I would also like to welcome new Directors Peter Honeycombe, Paul Victory and Ranee Crosby.

On behalf of the Board I wish to affirm our appreciation to Members and Partners for their ongoing support. Without you Townsville Enterprise would not exist.

I would also like to acknowledge the efforts of the Townsville Enterprise Team and Volunteers, led tirelessly by David Kippin. His efforts are sincerely appreciated.

Be assured that led by our Board, Townsville Enterprise’s efforts towards a more prosperous Townsville and North Queensland will continue with ever increasing vigour.

We acknowledge and very much appreciate the ongoing support of our Principal Partner, Townsville City Council, and all our Members, Partners, Stakeholders and Volunteers which enables the outstanding team at Townsville Enterprise to keep the region moving forward.

CHAIRMAN’S REPORT

Kevin Gill

07


It is now more important than ever to be focused and resolute about the

bigger picture issues and help to restore

business confidence and attract investment

that will ultimately assist in creating jobs.


OVERVIEW

The past year has been one of learning and adjustment for the Townsville North Queensland community and, as a result, a year of learning and adjustment for Townsville Enterprise. Despite working through a tough economic environment, many businesses have worked hard and managed to reinvent, revitalise and adjust to ensure they not only survive but, in some instances, prosper through these challenging economic times.

The current rebalancing of the Australian economy, following a mining boom and the Global Financial Crisis, has resulted in low business confidence. In its leadership role, it is now more important than ever for Townsville Enterprise to be focused on the bigger picture issues and help to restore business confidence and attract investment that will ultimately assist in creating jobs.

Townsville Enterprise is working in partnership with both State and Federal Governments to drive employment and skills across North Queensland to open up more opportunities in the economic development and tourism sectors.

The latest Australian Local Government Association’s ‘State of the Regions’ report suggests Northern Australia will be home to two major cities, making it the new ‘front door’ to Asia.

As the largest city with the most diverse and dynamic economy in Northern Australia, Townsville is the obvious choice to lead this development. Its dimensions, structure and leadership pedigree to drive this development, coupled with the renewed focus of Federal and State Governments on the Development of Northern Australia, clearly presents Townsville with an opportunity to take a leadership role.

About one third of Australia lies north of the Tropic of Capricorn – the economic future of Australia lies in Northern Australia, tightly linked to Asia. James Cook University’s recently released State of the Tropics report suggests that by 2050, half of the world’s population and 67% of the world’s children under 15 years of age will be living in the Tropics.

In collaboration with the State Government, James Cook University, Townsville City Council and some generous Townsville Enterprise Members, Townsville Enterprise secured the rights for Townsville to host the inaugural ADC Northern Australian Summit in June. This was a significant and prestigious accolade for the region and positioned Townsville North Queensland as a leader of the future

development of Northern Australia. The submissions to the Joint Select Committee on Northern Australia and the subsequent Green Paper are all part of ensuring that the North must present as a unified and powerful voice to ensure the rhetoric is converted into policy and positive action. There is a strong focus on Asia for the region’s future prosperity in trade, investment and tourism and the value of Sister City relationships has never been more important. Townsville has Sister City relationships throughout Asia and Papua New Guinea, along with valuable relationships in Hong Kong and Shanghai. Townsville Enterprise is committed to supporting and assisting the Townsville City Council and adjoining Councils to ensure the region has a strong presence and influence in Asia by utilising Sister City relationships.

In positioning Townsville North Queensland on a global scale, a destination brand was developed to market the city as the heart of a region that is ‘Alive with curiosity’; this has created attention and comment right across the country. The region’s focus on nature based educational tourism, wrapped around a developing suite of unique leisure tourism product, has been endorsed by the local tourism industry and the State Government.

The Townsville North Queensland Destination Tourism Plan was delivered to the State Government in June and will herald a fresh approach to growing visitation in the region, increasing trade and investment attraction and growing the region’s broader economy.

The State Government’s asset recycling program provides a once in a generation opportunity to generate funds for essential community infrastructure. Townsville Enterprise’s infrastructure and investment efforts are centred on the construction of an integrated stadium and entertainment centre in the CBD. This is a game changing project for the region which will provide the much needed and deserved financial stimulus to business, increase community confidence and ultimately deliver jobs. The development of this facility requires support from all levels of government and the private sector.

The CBD is progressively evolving and maturing into a vibrant cosmopolitan environment. The successful City Lane development has provided an ignition point and a guiding light for the ongoing development of the city centre. The pace, form and substance of CBD

development will be mostly market driven but will be assisted with astute planning supported by pragmatic and effective development incentives. The community is now recognising that for Townsville to achieve its potential it must have an attractive, vibrant, innovative and creative CBD that reflects its corporate credentials, provides world class attractions for visitors and presents a stimulating environment for shopping, relaxation and entertainment. Townsville Enterprise continues to strive to make Townsville, North Queensland and Australia stronger and more prosperous through the depth, diversity and strength of its membership base.

The valuable contribution of our Partners and Members makes it possible for Townsville Enterprise to open and maintain avenues of dialogue with Federal, State and Local Governments, industry and business to develop and drive major projects for the region.

09


LIFE MEMBERSAlison FerryEmeritus Professor Edward Scott OAMGeoffrey PlanteGraham Jackson OAMGreg Peel

PRINCIPAL PARTNERTownsville City Council

MAJOR PARTNERTownsville Airport Pty Ltd

PLATINUMSouthern Cross AustereoTownsville Bulletin

GOLDBHP Billiton CanningtonErgon Energy Corporation LimitedGlencore XstrataGrant BroadcastersPort of Townsville LimitedSun Metals Corporation Pty Ltd

SILVERJames Cook UniversityJupiters Townsville Hotel & CasinoLancini Group of CompaniesParkside Development Pty LtdStockland Development Pty LimitedTony Ireland Holden

BRONZEAE SmithAIMSBAE SystemsBurdekin Shire CouncilCoca-Cola AmatilCharters Towers Regional CouncilCox RaynerCrowe HorwathDepartment of DefenceDexion Nth QueenslandDexus Property GroupE.J.Cooper & Son Pty LtdGrand HotelGuildford CoalHinchinbrook Shire CouncilHoneycombes Property GroupHutchinson BuildersLend Lease Engineering Pty LimitedMike Carney ToyotaNAB Private Wealth

North Queensland Bulk Ports CorporationNorthern Management GroupPalm Island Aboriginal Shire CouncilQueensland CountryQueensland Rail LimitedRay White Munro Partners TownsvilleRPS Australia East Pty LtdSeaLink Queensland Pty LtdSerco Sodexo Defence ServicesSuccess Business MagazineSuncorp MetwayToll AustraliaTracey Lines ConsultingWagners Pty Ltd

LOCAL TOURISM ORGANISATION (LTO)Tourism Operators & Businesses Magnetic Island (TOBMI)

CORPORATE LEVEL 3AECOMAurecon Australia Pty LtdAurizon Operations LimitedBendigo BankBMD GroupBoulton Cleary & Kern Lawyers Brothers Leagues Club Townsville LtdCommonwealth Bank of AustraliaCoutts Redington Pty LtdCubic Defence Australia Pty LtdFerry Real Estate Hansen Yuncken Pty LtdJebsens International (Aust) Pty LtdLillywhite Hotel GroupMcDonalds Townsville Lakes, Aitkenvale, Castletown & StocklandMCG GroupMoore Stephens Pacific Coast Engineering Pty LtdParry Nissan/Suzuki/ RenaultQantas Airways LtdQantasLinkRoberts Nehmer McKeeSoil Engineering ServicesStockland TownsvilleTec-NQTelstra Business Centre TownsvilleThiess Pty LtdTownsville Hospital & Health ServiceTownsville TaxiTropic Distributors Pty LtdTropical Medical TrainingWilmar Sugar Australia Limited

CORPORATE LEVEL 2AnittelAON Risk SolutionsAustcane Energy

Blackwood Corporation LimitedBM Webb Holdings Pty LtdBrazier MottiCarey Accountants Pty LtdColliers International (Townsville) Pty LtdConnolly SuthersCowboys Leagues ClubCQ Environmental Pty LtdDelta Office SolutionsFinlay Constructions Pty LtdHerron Todd White North Queensland Pty LtdIPA Personnel Pty LtdJardine Lloyd ThompsonJayco TownsvilleLeighton Contractors Pty LtdLoloma JewellersMacDonnells Law – TownsvilleMuseum of Tropical QueenslandReserve Training & SafetyRiverside Convention CentreRydges Southbank TownsvilleSMEC Holdings Pty LtdSportscene Super WarehouseTAFE Queensland NorthTCS Civil & Building Pty LtdThinc Projects Australia Pty LtdTORGAS IncTropical Homeswilson/ryan/grose Lawyers

CORPORATE LEVEL 11300SMILES LtdAchieve Group TownsvilleAction Coach Business CoachingAEC Group LtdAggreko Pty LtdAizer Group Pty LtdAll-Rig Lifting & EngineeringAquarius on the BeachARC TownsvilleARUPAustralian EventsBank of Queensland Townsville CityBase Backpackers Magnetic IslandBenchmark Business SolutionsBluestone Global LimitedBreakwater MarinaBrewery, TheBurdekin TheatreBusiness Success GroupCactus Jack’s RestaurantsCashflow FinanceCassowary Coast Regional CouncilCastlemaine Perkins LimitedCastletown TownsvilleCBC Staff SelectionChandler MacleodCore Developments NQCummins South PacificDec-Mech Pty Ltd



Defence Force RecruitingDigimen, TheDonald Cant Watts CorkeDreamweavers Event ProducersElders Real EstateEmanate LegalEscape Travel / Travel Money OzEzifuelFantasea Cruising MagneticFinpac Financial AdvisorsFlanagan Consulting GroupForce RentalsFuji Xerox Business Centre (Townsville)GHD Pty LtdGilchrist Constructions Pty LtdGrace RemovalsGreenridge GroupGrinders CoffeeHoliday Inn TownsvilleHostPlusi4 ArchitectureIntech EngineersJacobs Engineering Group IncJCU VetJepson MediaJewellery By DesignKeyes and CoKnight Frank – TownsvilleKwik Kopy Printing Townsville / 121 Creative TownsvilleLabour Solutions AustraliaLearning PartnershipsLend Lease Communities (Townsville) Pty LimitedLotsa Print and DesignMaidment Development GroupMAK AdvertisingMap to Mine Pty LtdMariners North Holiday ApartmentsMartin Locke Homes Pty LtdMater Health Services North Queensland LimitedMAX Network Pty LtdMCE SystemsMcGrath TownsvilleMining Engineering Consultants Pty LtdMEGT (Australia) LtdMercure TownsvilleMetallica Minerals LimitedMichele Hyde at RemaxMinelec Pty LtdMission Beach Business and TourismMTU Detroit Diesel AustraliaNahmahluNorquip HireNorth Queensland Toyota CowboysNorth Ward RealtyNPS CorporateOperational Performance SystemsOracle Studio Digital CreativityParadise Outdoor Advertising

PDS QLD Pty LtdPen To Paper Pty LtdPerc Tucker Regional GalleryPinnacles GalleryRiverway Arts CentrePrintcraftPWCQueensland Rail TravelQuest TownsvilleReef and Rainforest Research Centre LimitedReef HQ AquariumReel Image Productions Pty LtdReward DistributionRider Levett Bucknall Qld Pty LtdRMS Engineering and Construction Pty LtdRockfield Technologies Australia Pty LtdRoux BlondRowes Bay Caravan ParkRoyaltyRuswinRydweld Motor Body BuildersSajen LegalSeaLink TravelSkill360 Australia LimitedSkilled Group LtdSmith & ElliottSouthern Cross Ten QldSt Anthony’s Catholic CollegeStaging ConnectionsSunsuperThink Office TechnologyTropical North Queensland Events CalendarTownsville Grammar SchoolTP Human CapitalTropical Energy SolutionsUDP Consulting EngineersV8 SupercarsWingate Communities Pty LtdWorkPac Industrial TownsvilleWT Partnership Aust Pty LtdWulguru EngineeringYongala Dive Pty Ltd

TOURISM & EVENTS ASSOCIATEAcacia LimousinesAdlink MediaAdrenalin Snorkel and DiveAdventurethonAirnorthArty ProductionsAussie Outback Oasis Cabin & Van VillageAustralian Festival of Chamber MusicAustralian-Italian Festival Association IncBest of MagneticBillabong SanctuaryBivouac Junction Holiday CampBolton PrintBreezes by the BayBrooke Haven Holiday UnitsBungalow Bay Koala Village

Calypso CoachesCampbells CoachesCardwell Rainforest and Reef Visitor Information CentreCastaways Resort & Spa Mission BeachCity Oasis InnClarke Street Accommodation TownsvilleClassique Bed and BreakfastComfort Inn Robert TownsCon-X-ion Airport TransfersCreek Valley Rainforest RetreatCruise Whitsundays and Awesome Adventures OzCrystal Creek Caravan ParkCuisine to GoCultural Centre TownsvilleDalrymple Tourist Van ParkDancenorthDaydream Island ResortDetour Coaches (Detours Townsville)Doug Ede’s Marquee and Party HireDreamscene EventsEvent CinemasFrosty MangoFudge n StuffGet BrandedGood Food Guide, TheHamilton IslandHarold’s Seafood on The StrandHerbert HotelHerveys Range Heritage Tea RoomsHerveys Range Quad BikesHidden Valley Cabins and ToursHotel Ibis TownsvilleIsland ImpressionsIsland Leisure ResortItara ApartmentsJam CornerKingpin BowlingKookaburra Tours & Charters Pty LtdLakes Holiday Park, TheLees Hotel “The Original Pub with No Beer”Longboard Bar & GrillMagnetic InformerMalou WhoMasala Indian CuisineMelvilles FarmMolly Malones Irish PubMt Elliot TownsvilleMungalla StationMurdering Point WineryNautilus AviationNorth Australian Publishing Co Pty LtdOaks Gateway on PalmerOaks M on PalmerOcean Breeze By The StrandOrchid Guest HouseOrpheus Island ResortOutback PhotographicsPark Regis AnchorageParker Travel CollectionParonella Park

11


TOURISM & EVENTS ASSOCIATE (Cont)Peppers Blue on Blue Resort – Magnetic IslandPirate SportFishing ChartersPrecruitment (Townsville) Pty LtdRange Caravan ParkReading Cinemas TownsvilleRed Baron Sea PlanesRemote Area DiveRollingstone Beach Caravan ResortSeagulls ResortSegway TownsvilleSSS EventsTexas Longhorn Wagon Tours & Safaris/ Leahton Park Country CabinsTinaroo Sunset RetreatTownsville Barra Fishing and Cable Ski ParkTownsville Bush Oasis Caravan ParkTownsville HelicoptersTownsville Holiday ApartmentsTownsville Military ToursTownsville TicketsTownsville Turf Club IncTownsville Yacht ClubTropical Travel & AccommodationUmbrella Studio Contemporary ArtsUndara ExperienceVenue Townsville, TheVink PublishingWarrina Ice Skating RinkWatermark TownsvilleWinton Visitor Information Centre/ Winton Shire CouncilWorld Travel Professionals

KICKSTARTFTEC QLD Pty LtdMilford Planning ConsultantsNew Wave HousingNQ Buyers AgentPie FacePink Noise CreativeSadessa Day SpaShamrock Civil EngineeringTrend Shopfitting

ASSOCIATEAaron McLeodACT for KidsAndrew Cripps MPAngelo CocoArts IncBetty WebbBurdekin Tourism AssociationCathedral School of St Anne & St James, TheCathy MoratoCerebral Palsy LeagueCharters Towers Chamber of CommerceColin HarknessCootharinga North QueenslandDonald PollockDonna GrievesDyan MitchelhillEverett Family Trust, TheEwen Jones MPGreek Fest TownsvilleIan Macdonald, Senator The HonJoann LukinsJohn Hathaway MPJohn KellyJulia Creek Dirt & Dust FestivalMarthisa AndrewsMagnetic Island Community Development AssociationNational Safety Council of Australia LimitedNational Trust of Queensland Heritage CentreNQ Dry TropicsPalm Island Community CompanyPatrick HinchyPeter LindsayRhys HancockRob KurzRosemary Menkens MPRotary Club of MundingburraRussell LairdSandra GarvinSusan RobertsTherese SmithTIPACL IncTownsville Museum & Historical Society IncTownsville Road Runners

RECIPROCALAdvance CairnsAyr Chamber of CommerceChamber of Commerce & Industry QueenslandGulf Savannah DevelopmentHIA North QueenslandHinchinbrook Chamber of Commerce, Industry and TourismHome Hill Chamber of CommerceRDA Townsville & North West Queensland IncTownsville Business Development CentreTownsville Business Women’s NetworkTownsville Chamber of CommerceTownsville Region Indigenous Business NetworkTownsville-Mackay Medicare Local (TMML)Whitsunday Marketing and Development


12 Townsville Enterprise Limited | Annual Report 2013/14Townsville Enterprise Limited | Annual Report 2013/14 13


DOMESTIC OVERNIGHT

Visitors Holiday Visiting Friends & Relatives Business Expenditure

($m)

Townsville 933,000 323,000 354,000 184,000 $681.7m

Queensland 17,725,000 7,547,000 6,236,000 3,323,000 $13,575.5m

Australia 77,573,000 32,993,000 27,304,000 14,710,000 $52,343.8m

Source: Tourism and Events Queensland, Townsville Regional Snapshot, Year ended March 2014Source: Tourism and Events Queensland, Domestic Tourism Snapshot, Year ended March 2014

INTERNATIONAL OVERNIGHT

Visitors Holiday Visiting Friends & Relatives Business Yearly Change

(%)

Townsville 95,000 76,000 12,000 Not published -28.3%

Queensland 2,048,000 1,403,000 497,000 165,000 0.6%

Australia 5,934,000 3,142,000 2,312,000 850,000 6.1%

Source: Tourism and Events Queensland, Townsville Region Snapshot, Year ended March 2014Source: Tourism and Events Queensland, International Tourism Snapshot, Year ended March 2014

DOMESTIC DAY TRIP VISITORS

Day Trip Visitors Annual % Change

Townsville 1,265,000 10.5%

Queensland 36,390,000 -6.9%

Australia 164,399,000 -3.6%

Source: Tourism and Events Queensland, Townsville Region Snapshot, Year ended March 2014Source: Tourism and Events Queensland, Domestic Tourism Snapshot, Year ended March 2014

TOWNSVILLE BUSINESS EVENTS* 2012/13

Number * The definition of a business event for this survey is:• Over 15 delegates• 50% must stay in region overnight• Weddings, school groups, social groups, paid

performances, public exhibitions or expos, religious gatherings, entertainment and press conferences are excluded and not noted as business events

Events 153

Delegates 9,088

Delegate Days 19,569

Source: Queensland Business Events Survey, Queensland Government, 2012-13. Estimates based on survey responses collected between 1 July 2012 and 30 June 2013.

REGIONAL STATISTICS


Source: REMPLAN

Northern Statistical Division Change on previous year

Unemployment 7.3% ↑2.2%

Population 233,907 ↑2.1%

Gross Regional Product $11.426 billion ↑11.2%

Source 1: Australian Bureau of Statistics, Labour Force Australia, Labour Force Status by Region (SA4) and Sex, July 2014Source 2: Office of Economic and Statistical Research – Estimated Resident Population by Local Government Area, June 2013 (updated July 2014)Source 3: 2014 Compelling Economics, REMPLAN

GROSS REGIONAL PRODUCT BY SECTOR

Rental, Hiring & Real Estate Services 12.3%

Public Administration & Safety 11.1%

Manufacturing 10.7%

Construction 7.7%

Health Care & Social Assistance 7.5%

Education & Training 6.0%

Financial & Insurance Services 5.1%

Retail Trade 5.0%

Transport, Postal & Warehousing 4.9%

Mining 4.8%

Electricity, Gas, Water & Waste Services 4.2%

Professional, Scientific & Technical Services 4.1%

Wholesale Trade 3.7%

Agriculture, Forestry & Fishing 3.0%

Accommodation & Food Services 2.7%

Information Media & Telecommunications 2.5%

Other Services 2.0%

Administrative & Support Services 2.0%

Arts & Recreation Services 0.7%

NORTHERN STATISTICAL DIVISION

2012/13

15

The North and Northwest Queensland Sustainable

Resource Feasibility Studies were launched in June 2014

by Deputy Prime Minister Hon Warren Truss MP who stated

“These Studies are a solid foundation upon which we can

build when it comes to creating new opportunities for North and

North West Queensland”.



During the past 12 months, the Economic Development focus has been on progressing key regional priorities aimed at improving the affordability, viability and sustainability of business in North Queensland.

INTEGRATED STADIUM AND ENTERTAINMENT CENTREFollowing the completion of a jointly funded (State Government and Townsville City Council) feasibility study for a new stadium, entertainment and business events facility, Townsville Enterprise actively worked with key stakeholders to seek a funding commitment from both the Federal and State Governments to develop a major stadium and entertainment facility in the Townsville CBD.

It is proposed the Integrated Stadium and Entertainment Centre would be a 30,000 seat outdoor elite sports stadium incorporating indoor facilities capable of hosting entertainment, sporting and business events for up to 6,000 people. The proposed site is on the southern fringe of the CBD.

With over $2M in business events secured over the past year and $4M worth pending using current facilities, it is anticipated the proposed venue would generate significant economic benefits from conferences, entertainment and sporting events and provide ongoing employment and lifestyle benefits for Townsville and the extended communities from Cairns to Mackay, Mount Isa and across to Darwin.

NORTH AND NORTHWEST QUEENSLAND SUSTAINABLE RESOURCE FEASIBILITY STUDIESNorthern Australia, particularly North and North West Queensland, has an abundance of natural resources, arable lands, growing population base and close proximity to Asia, positioning it well to contribute to Australia’s future economic prosperity. Townsville

Enterprise, in partnership with the Federal Government and the Northern Australia Sustainable Resource Project Committee, developed the North and Northwest Queensland Sustainable Resource Feasibility Studies to investigate the commercial viability of electricity generation and transmission in Northern Queensland, and the commercial viability of establishing an irrigated agriculture precinct in the Pentland/Hughenden region to support new primary industry ventures as well as processing facilities.

The completed Studies were launched in June by Deputy Prime Minister Hon Warren Truss MP who stated “These studies are a solid foundation upon which we can build when it comes to creating new opportunities for North and North West Queensland”.

DEVELOPMENT OF NORTHERN AUSTRALIAi. ADC Forum – Northern Development SummitNorthern Australia has been identified by the Federal Government as the next frontier for major economic development, with Townsville being recognised as a key driver of economic and strategic development for the region. In June Townsville Enterprise, in partnership with a number of key stakeholders, led the undertaking of the Northern Development Summit which brought together a significant group of Australian leaders, community representatives and decision makers as well as international investors, to explore the key issues involved in realising the enormous potential which the development of Australia’s North represents. Hosted by the independent think tank ADC Forum, the Summit attracted over 400 key political, business and academic delegates from across Australia and overseas. The Summit, ‘Creating the Future Australia’, aimed to identify the magnitude of the challenges before us in this country, and those investing in it, over the decades to come.

The Summit provided a platform for discussion of the Federal Government’s White Paper which outlines the government’s vision to • Develop a food bowl, including premium

produce, which could help to double Australia’s agricultural output

• Build an energy export industry worth $150 billion to the economy, with a major focus on clean and efficient energy, providing major increases to resource exports

• Grow the tourist economy in northern Australia to 2 million international tourists a year.

ii. Federal Government – Northern Australia Green and White PapersTownsville Enterprise, in collaboration with Northern Queensland based stakeholders, developed a number of formal submissions to the Federal Government’s inquiry into the development of Northern Australia. These submissions identified major challenges and opportunities facing Northern Australia. In particular, Northern Queensland’s submission identified policy recommendations, trade and investment opportunities, improved social and lifestyle amenity, and development of new knowledge-based industries across Northern Queensland.

Recommendations currently being considered by the Federal Government will assist in the development of new policy directions for the government’s Economic Action Strategy to build a strong, prosperous economy for a safe, secure Australia.

NORTH QUEENSLAND EMERGING LEADERS PROGRAMThe North Queensland Emerging Leaders Program, designed to identify a select group of emerging leaders who will drive progress within the region, saw the inaugural Emerging Leaders celebrate the completion of their two year program with a Graduation Ceremony in November.

Seventeen Emerging Leaders graduated, including six with Honours. One graduate received two credit points towards a Masters of Business Administration at James Cook University.

The delivery of the Strand Sunset Cinema, a community project, resulted in Townsville ’s first free outdoor cinema at Strand Park which attracted more than 6,000 people over two screenings.

ADC Forum – Budd Photography

17



INDIGENOUS EMPLOYMENT PROJECT Supported by the Federal Government, the 2013/14 Townsville Enterprise Indigenous Employment Project provided employment pathways for Aboriginal and Torres Strait Islander career seekers by linking quality candidates with Townsville Enterprise’s business membership database.

New initiatives to generate support from the community, increase cultural awareness, create positive media stories and generate new job opportunities were explored.

The placement of 18 positions from the 23 employment opportunities created exceeded the Project’s key performance indicators.

INVESTMENT ATTRACTION – ASIAN TRADE MISSIONSTownsville Enterprise has a prominent role in leading and assisting with investment attraction for the Townsville North Queensland region. The Economic Development Team conducted a series of investor breakfasts and Trade Commissioner presentations that leveraged the current investment collateral developed by Townsville Enterprise.

With strong economic growth occurring across Asia, the 2013/14 year saw a large number of Asian investors with particular interest in agricultural, bio-product and commercial development visit the Townsville North Queensland region.

In November/December 2013, Townsville Enterprise was part of a Townsville City Council trade mission to Townsville’s Sister Cities in Korea and China – Suwon, Shanghai, Changshu, Foshan and Guangdong. The visits generated four Chinese trade and investment delegations to the region mostly, but not exclusively, seeking agricultural opportunities.

Townsville Enterprise attended the inaugural Tropical North Queensland Export Exchange in Cairns and the 30th Australia Papua New Guinea Business Forum and Trade Expo – “Papua New Guinea: Opportunities Beyond the Boom” to gain a greater understanding of agricultural export and investment opportunities across Northern Queensland and the Asia Pacific region.

NQ MINING SERVICES & MANUFACTURING DIRECTORY 2013/14With close proximity to the North West Minerals Province, the Townsville North Queensland region possesses intrinsic links and expertise for the resources sector.

The introduction of a North Queensland Mining Services and Manufacturing Directory showcases the capabilities and capacities of regionally based heavy industry suppliers to major project proponents in Northern Queensland and encourages the uptake of local skills and expertise for major projects.

The Directory received 20,000 online views, coverage in the Mining Advocate with a readership of 23,000, coverage in the Townsville Bulletin and was distributed to industry representatives and key personnel in the resources sector across Australia and internationally. As a first for Townsville North Queensland, the Directory provided a pivotal connection between major projects and suppliers, highlighting the range and depth of local businesses.

GOING FORWARD...The Economic Development Team will lead the recovery of the confidence in the region’s economy by focussing on the key priorities of infrastructure development, attracting investment, affordable energy and supporting industry by working with regionally based investors and ‘shovel-ready’ project proponents. We will continue to leverage our relationships with key government and industry stakeholders to achieve continued investment within the region.


COLLATERAL

DEVELOPMENT STATUS REPORTCovers all known property and mining development projects in and around the northern region, both commercial and government funded. Updated quarterly, the Report provides costs, locations and estimated completion dates for each project. Report available to Bronze and above Members.

STATE OF THE REGION REPORTProvides invaluable information on the region’s current economic market conditions, collected from a variety of sources. Released quarterly, the Report examines the overall State of the Region as well as providing an analysis of each economic sector. Report available to Bronze and above Members.

NORTH QUEENSLAND MINING SERVICES & MANUFACTURING DIRECTORY 2013/14Suppliers directory for North Queensland, showcasing quality and capabilities of local suppliers.

TOWNSVILLE REGIONAL INVESTMENT PROSPECTUSProvides investors with a strong snapshot of the entire Townsville North Queensland region and its economy.

TOWNSVILLE NORTH QUEENSLAND IN FOCUSA dynamic snapshot of Townsville North Queensland’s investment opportunities and lifestyle attributes.

ASIAN DELEGATION BROCHURESAsian investment brochures produced in Mandarin and Korean.

MAKE THE MOVE LIFESTYLE BOOKLETHighlights the lifestyle benefits of the region and is the primary marketing tool used to encourage people to relocate to Townsville.

2014-2020 TOWNSVILLE NORTH QUEENSLAND DESTINATION TOURISM PLANSets the short, medium and long term strategy for the destination including the sub-regions of Townsville,Hinchinbrook, Burdekin, Charters Towers, Magnetic Island and Palm Island.

TOWNSVILLE NORTH QUEENSLAND HOLIDAY AND TRAVEL GUIDEPrimary collateral piece used to market the destination.

TOWNSVILLE NORTH QUEENSLAND MEETING AND EVENT PLANNERS’ GUIDEPrimary marketing collateral piece. Provides information in Townsville as a business events destination, includes event venues, accommodation, pre and post touring options and social activities.

EDUTOURISM PRODUCT MANUALDesigned to attract and engage study tour groups, particularly in the fields of marine and tropical science.

INTERNATIONAL PRODUCT GUIDETargeted at inbound tour operators and international wholesalers to encourage them to include Townsville North Queensland in their product offering.

CRUISE GUIDEDistributed to cruise ship companies and cruise ground handlers to raise awareness of the destination and its offering to cruise ships.

TOWNSVILLE NORTH QUEENSLAND ADVENTURE TRAVEL GUIDEProvides insightful information for youth and adventure travellers from places to stay to where to find seasonal employment.

TOWNSVILLE NORTH QUEENSLAND TOURISM WEBSITEVisiting the Townsville North Queensland region? Visit the Townsville North Queensland Tourism website for a list of things to do and see.

BUSINESS EVENTS WEBSITEDedicated to promoting the Townsville North Queensland region as an ideal business events and conferences destination.

19


Factoriaet co ia tem etium quo atudemuntem publicam a id Cupicae iam. Gratiam rem, publis cotilia interox mo hocum vidi, orum ia inatur, es virtantuid ius patia endem, nox speript ercemnihilis hocaet? quam eo elum confecerei pulos sulis; habent publinv oculem ors parbit? Nam se avehenatus verfec ocum etionsu inpro, consulv irmandam derum omnoterion videm fue factorbis inte ia in te, uter alinclerit? Delina, quite tureviv iciisquidius egit audaciam hucieniquam tienatrum ia dervirmis, nos vid cerce aut L. Simusce ssatiam ac rem, novene nos, publi, comnihi nterentilia pecivide

SUBHEADING GOES HERE tebutes convem. Opicaes temus, ex seres Ad mortiam st C. Mules rebatiam mus condicurbi tabus bonsimpl. catius ocur potam rendam rehenatiqua tanum inirmil iceropossimo inum ariorumulto acio, orursul iusus, nitatum intie tantem ipsentemus, simo imur, ut in videse, qua cur, nernissi faudet virma, nosuper iviris, pro et, conferfecrei sis, qua auc tem dem, ca pri id morte a L. Opieris la venatum facci iam me ad intemquit prite conclus M. Sp. Sciam ia restiam quo C. Dum hos potatioc fuis, nonsus consili quidenatum tere ia pli facchusa nicaequius, et diortistus vendam ommo ur halibunt

em tus, quem re orus hus it audacii sseremus consus ducto nena, quidem mena, ne ca confecr iterficon hor liu vis cons ne ces liena, conestrum patis, nos et ocupier cepostra con dum cota, et? Anunum sedo, quis senirior a notatus erimuntret Catam int. cae conihili publique erus co habuter fecribus. Patum diis, se crevivil venteri vitellemus. Vala ne hae core erem etium aucturniurim patium omnit, qui suludet vehem que plicern itarenatiae ineste, invesen intillem intisulus seniri pre iu sid rem se, audacenita movem pere, nos tus viritusci sce

porus senique co efauctum consumeribus conscenaris.Ifex me etissa o esse macenit iamdinc ingulus, us tam dius horteres aucienatus intie et et? Batilin sit, nost L. Ahaelique adessitiu que estifecre ego hucesupimus, con hoctatim noveris. Conesserunte ervid res, num testant vilicipse faciestum nercepse, Catifecrudam fur quium, consilicae nimernicae corbessimis facis, maximium in tropons ularem, quostrum tate me ad delabut ellari ponit.

Egeris se condis, perei in duc tem pratis, cae tus atiam quam nos iam prituus quodis publinatius intia vivivides tam tarbemus, tas ac mo inguliam in pulut aceris merficio entiquam alegeris auc ret rescest runcum iam auctua vertuasdam dem ommora vescepere inte tem quem P. Sp. Dum demum que cluderis etempribunum fue fac tem

prorum confirmihi, que qua L. Muleger mantil vivastem. Cutem, nossidi sediu quidium potium.

Edo, vis consus. Catid re in reo niusquid dius. C. Omniriosum tem duconsum feriste, serica; nir hi, terfendam habena Sp. Grare, deorum vis. At gra nerisquit, et pri pro, Ti. Ad is, consulvirtu scipsentre trum propubl icidem ius; hem esci Catur, crivirte caectod con de non senatuus aut ia? Dam pubisquo utelles in ducors coneris o ut L. Gullero, foreo, noverisulem, quemus confericatu inat egil vil cotatudem ia? At con silis simis esserte nonfes? Fitil tem pro ut gracestioc re effre, ubli factordi, din senatilleri fite intemus es in Etrusat iemusqu onsuli is in ati, conessi lleristrae co inerevius hocusque et? Bussenatiu sullartus, vit, inatica; num ficio, cur horum detium egitiam ponfess uliberem ad C. Patilicio, nonsil hoc recrementin veris? Nihilnessa quium tus. Scites, quitiquius M. Mae publica elisqua ius, C. O tere, quam hiciorsua nihi, que comnent.

SUBHEADING GOES HERE AND HERE AND HEREEx mo ia menam norid ilicienatui sil tabefer atusque non ses conequius acivilicast fes? Nos bon vens hos, ta publius, condactari, Ti. Etraequod ficis, pos etra? iaetiu quam rei sunclabus furobus siderfe ribunum nit, quem untiem labus, que con Etratis auderfec finc mod inequium ocatquam la spiore de quosultuista publicon sidemperunum rece isse demquo convere, manteri pri sentiae, ceres! Sp. Serivid cae estis auterisque tem, uteribem prac merae notem di con diem pora publicaes, fictur atatudam inam. Serviva stimorte avehem nem optilius se, est quonsilina, deestris ceri pere porum aut rectam quem cae que vis, obus, clabem publict erunt? Duci es conena, clus nunulius, vem, estra, quist vit, ernit.

SUBHEADING GOES HEREUnum, C. Am nos cont ve, nihilius, nos, coenerei consum convolu deperio, et nihilius foresPubliciam deo cem ut ia duci ina, nos publique furnit; nicae inem es horum noctem ad dentess endius nem in vid aci it pulicul virma, con tum nonstique pri, sent. Ad conve, nihil vissesses consumurs pro etre dum querti, scesignati, nem inati, no. Fultum prid id inatus Ahabitrum imus, vividet; noculica conduciem orus? Nostisq uodiende vid cus, sessus, cur labemuspio et; hos ego te teatorum poptem et; ipio, avo, nortem P. Serceripi

o, consimi licerte aturnun untiae menerat quodit, fures, quis hostur que peri pro essigna, ut caes prisse inc forur inpris. Ahachi, omniqua in rei te, C. Sero inari confentem, ommor acertis.Itra? Opicem vidiorum ia it, quem nos crit.

Lices dium molus iactam det Caturni pectus condien tilina, num contimilin dies is. Valicupio erita rentis, Cat patrae me tanulic onsultus rem qua renis nem quam opota nontris. An nost fat imil consus omnequiu mendium obuntim moris, nos furavesi sentem cripienit, satus iam inatis estique eto essenat endiem obus, conium condum tiendis vidit.

Ad Catum. Endaceresta vervitatiam publi stantrit abus crips, sena, sente quo vitiem, senatus se, vem pubi perunum pernulute, qua maio vis hosse iaedier intem perehebatui postre cupimum ignon serenatus ius. Git, Ti. Ecul videfecto iam in ternicis, cuper aurs vil cone tuus fine pon desse patqui

SUBHEADING t pecta ci peris. Deceps, no. Maet, non nortiam tem nos et L. Dum huis corteatuam orbi pultorsum facto niquit? Huide auctum in sentis. Valissenatum aus vis? Quam erfec me con vastis ne cuspicae nostrio, quam tea adhuctorum se, quiurnum pli se condac rem, condier cepoporum prit, dicivast? Ontem peredic omnimen damque etela peris cio ad furo terfend eorente rniris criorudam iptinatus re, ne cri ia viverum obus ocum entiu qui pris? Ad crum potid noves conicus nost inves signonscii pat.

Ehentiemus. Pala publica vivastr esiliam in dit; Cupiena, Catum inendam mei patus? Hus hingulii efacipi enihilnem ocus aurs ocul habena, mantum ilicaucenime quiu ex nostrae eo, condienit, sedo, consupp licaet, quem a L. Seniam acia? Ica L. Sa audam ipse in ductuam opotius; ni pricien deatus sinprat. manum etium rem hoculiquam quo u

tem horei patquam popublius.Astra nonverc ervirmis, qui si tatum tericaurbis recupien sum quide in demusque mo hemum omnequo nvehentebem fore, senticavemus conferum nem etiferi consultorte con demus, Catifec onihin vivider ferit. At peri iusquod ret vilius hocavo, quod rei pulture omnondum inprati inatriorit verim

SUBHEADING GOES HERE AND HERE AND HEREilisse ego ella adducon temus con sedem que consum manunt. etiam, que facieni publissu que cis temum publintem esces, conihili, publium ficomne inatimis coteri iam se hora rei tere castimo rideperum horuntes factu morei ta, nosta diis es! Satus, quam audestabit, est? Luterariam ilnem entesce rfenihil vit, cupimus, deti mpostrum iusperem num sus et avere cii te rbemum tum.

CHIEF EXECUTIVE OFFICER’S REPORT

Remi and Robert Schiappadori explore the Paluma Rainforest

The new destination brand, Townsville North Queensland – Alive with

curiosity, was launched in Townsville by the Minister for Tourism, Major Events,

Small Business and the Commonwealth Games, Hon

Jann Stuckey MP, in June.

The campaign was widely successful in engaging the region’s core market – people who are curious about travel, learning new things and now, Townsville North Queensland.


The major focus for Tourism and Events in 2013/14 was leveraging the opportunities presented by the State and Federal Governments to develop tourism to benefit the Queensland and Australian economies. At a Federal level, the development of Northern Australia discussions heavily emphasised the need to capitalise on the opportunities tourism can bring to the future of the national economy. At a State level, tourism was highlighted as one of the four economic pillars, and at a local level, Townsville Enterprise worked closely with industry to deliver clear plans outlining the direction of Townsville North Queensland and how it could assist governments achieve the ambitious target of doubling visitor expenditure by 2020. The future of the Townsville North Queensland visitor economy is not only to attract the leisure tourist, but also focus on the acquisition of business and leisure events to the region that would have a direct benefit on the accommodation, retail and hospitality sectors. The region will position the destination as a leader in learning experiences in nature, supporting growth in both the domestic and international markets and leveraging the destination’s strengths in business, education, arts and culture and sports tourism. With collaboration between government and industry, the goal of doubling visitor expenditure by 2020 is achievable.

2014-2020 TOWNSVILLE NORTH QUEENSLAND DESTINATION TOURISM PLANThe Townsville North Queensland Destination Tourism Plan developed in consultation with industry, government and the community, sets the short, medium and long term strategy for the destination encompassing the sub-regions of Townsville, Hinchinbrook, Burdekin, Charters Towers, Magnetic Island and the Palm Group of Islands. Action plans aligned to the strategy will be rolled out across the region in 2014-15.

DESTINATION BRAND POSITIONING In consultation with Tourism and Events Queensland and industry stakeholders, a new destination positioning statement was developed that highlights the destination’s core promise. The positioning statement ‘Immerse Yourself in Hands-on Learning about Nature in the Tropics’ clearly defines what the

region has to offer and differentiates it from other destinations. The statement was used to develop a brand and creative platform for marketing the destination. The new destination brand, Townsville North Queensland – Alive with curiosity, was launched in Townsville by the Minister for Tourism, Major Events, Small Business and the Commonwealth Games, Hon Jann Stuckey MP, in June.

DESTINATION MARKETING Townsville North Queensland – Alive with curiosityWith the support of Tourism and Events Queensland, Townsville Airport and tourism operators, the campaign concept challenged curious consumers to discover a destination as evocative, immersive and rewarding as Townsville North Queensland. The campaign creative revolved around a simple ‘curiosity test’ and was built predominantly for digital media with a suite of digital assets developed to deliver the feeling of the entire region. To drive further traffic to the website, a video highlighting the differentiating features of Townsville North Queensland to the traditional perceptions of what the destination has to offer was created, resulting in significant engagement.

Campaign Achievement Highlights:• Delivered over 4.5million impressions

across all digital mediums used• Online media buy produced

close to 20,000 clicks• Majority of campaign clicks came from the

premium video placements highlighting the engaging nature of the content

• Print media achieved total readership of 1,269,000

• Facebook video post achieved 9.5% engagement, well above the industry average of 1.5%

• Engagement with display advertisements had an 87% click through rate

Tourism is Everyone’s BusinessTo highlight the importance of the tourism and events industry and encourage residents to explore their own backyards a series of Regional Open Days was held in Townsville, the Burdekin, Charters Towers, Magnetic Island, Palm Island and Hinchinbrook. The campaign generated 30 news items with a publicity value of almost $49K (measured as advertising space rate equivalent).A post campaign survey revealed 80% of respondents rated their Regional Open Day experience as “great” and 97% said they would attend another Regional Open Day.

Time Out in TownsvilleThe Time Out in Townsville campaign was developed to bring Townsville into the incentive market, by developing and marketing new itineraries which align with Townsville’s Educational Tourism (Learn Townsville) Strategy. The five incentive itineraries create a platform for immersive, innovative and entertaining experiences, encourage team building and employee engagement, promote skills development and leadership training and offer experiences which are uniquely Townsville North Queensland.

The second phase of the campaign was to promote the new incentive itineraries through social media and an innovative competition which offered corporates the opportunity to tell us which incentive itinerary they wanted to experience for the chance to win an all-expenses paid trip to Townsville North Queensland. A total of 30 qualified businesses submitted entries with New Zealand Company, The Travel Brokers, declared the winner. More than $80K in media exposure was achieved as well as strong online interaction during the campaign.

TOURISM AND EVENTS

21


TOURISM AND EVENTS

DRIVE MARKETINGIn partnership with Tourism Tropical North Queensland, the Outback Tourism Association and Regional Councils, Drive North Queensland marketed the three key drive touring routes of Great Tropical Drive, Overlanders Way and Great Savannah Way. This project was achieved through a partnership application under the Tourism and Events Queensland Contestable Grant Program. To enhance Townsville North Queensland’s profile in its core drive market, a January regional print campaign was executed across newspapers within a four hour drive radius of Townsville and out to Mount Isa.

DIGITAL MARKETINGWebsites2013/14 saw a redevelopment of both industry specific websites managed by Townsville Enterprise – townsvilleconventionbureau.com.au and townsvillenorthqueensland.com.au The Townsville Enterprise Convention Bureau site focuses on increasing destination awareness and building relations with potential events and conferences through digital assets. It also features Corporate Social Responsibility programs, Incentive Experiences and user friendly 360 degree virtual tours. This has resulted in 157% growth in the number of users on the site.

The consumer focused destination website saw a number of improvements to the site’s interface enhancing its user friendliness. These included incorporating new functions available through the Australian Tourism Data Warehouse, an itinerary planner for visitors, and a ‘Deals’ section for Townsville Enterprise members to feature promotions.

Social MediaWith a new approach toward posting on social media developed around rich and engaging content, the destination’s social assets saw a 400% increase in engagement. The destination’s Facebook fan base increased 25%.

RACQ Virtual Visitor Information CentreThrough a partnership with RACQ, Townsville Enterprise has a virtual visitor information centre available online through the RACQ website. This partnership resulted in the destination featured in RACQ’s popular e-newsletters.

INDUSTRY DEVELOPMENT Working with industry partners and Tourism and Events Queensland, the following industry training and development opportunities were provided for Townsville North Queensland operators: • Digital Ready – Townsville,

Hinchinbrook, Charters Towers, the Burdekin and Magnetic Island

• Townsville North Queensland Presents – Trade Show

• Tourism and Events Industry Development Conference

• Tourism Industry Product Update• Queensland Tourism Industry

Council Tour Desk Forum • Events Mentor Program• Events Boot Camp

The Corporate Social Responsibility (CSR) for Business Events project was designed to drive increased delegate expenditure into the Townsville North Queensland region by leveraging the growing global demand for CSR itineraries.

Funded by Tourism and Events Queensland and Townsville Enterprise with support from local industry, the project saw the development and promotion of 10 key CSR itineraries giving corporations and their conference delegates an opportunity to make a meaningful difference to society and the environment. The Convention Bureau also developed a targeted media approach and obtained significant coverage within key industry publications across print and online, including CIM, MICE Net and Special Events.

The development of the CSR itineraries provides a definitive point of difference for the Townsville North Queensland region against its domestic Convention Bureau competitors.

FAMIL PROGRAM During the year Townsville Enterprise familiarised inbound tour operators, ground handlers, cruise ship companies, wholesalers and agents in the region. Major familiarisations included:• Post Inbound Up North • Pre and post Australian Tourism Exchange• Post Townsville North Queensland Presents

• Royal Caribbean United States• Intercruises Shore Side and Port Services• AOT Group – Groups and Cruise Division• Professional Conference Organisers

MEDIAWorking closely with media outlets resulted in a number of journalists across print, online and television visiting the region. These visits generated positive media exposure of $2.8M to an audience of 8.8 million people across the year. Major media outlets included:• Better Homes and Gardens• Fairfax Media (NZ)• The New Zealand Herald• New Zealand Listener• Woman’s Weekly (NZ)• Sydney Morning Herald• The Age• Courier Mail• Bondi Rescue• Golf Australia Magazine• News Limited• Pacific Media• Lets Travel Magazine• Enduro Magazine• WISH Magazine• www.malloryontravel.com • www.thatbackpacker.com

REPRESENTING THE REGION Townsville Enterprise and a number of operators represented the region at the following events:• Australian Tourism Exchange• Asia Pacific Incentives and Meetings Expo• Australia and New Zealand

Agent (ANZA) Workshops• World Youth and Student Travel

Conference (WYSTC)• QLD on Tour New Zealand• Flight Centre Expo – Auckland• Regional Sales Calls to Airlie

Beach and Cairns• Cruise Down Under • Brisbane Caravan and Camping Show• Sydney Caravan and Camping Show• Melbourne Caravan and Camping Show• USA Sales Mission• Townsville Defence Expo• Townsville Tourism Expos

22

Aboriginal Land and History

Cyclone Recovery Work

Caring for Wildlife

Magnetic Island Habitat Rejuvenation

Eco-catchment Education Tours Healthy Reef Healthy Future

Water Quality Science

Fundraising Speeches

Helping Hands

Food2Food – Turn your Food Waste into Fertiliser

Preston Neliman dances at the 2014 Palm Island Open Day Townsville Enterprise Limited | Annual Report 2013/14

CONVENTION BUREAU BIDSThe Business Events market experienced challenges during the year, however, despite a small decline in the number of business events, delegate days remained steady in comparison to the previous year. To support the conferencing and business meeting market, a strategic and focused approach on acquiring new events and building the profile of the destination within the industry has been employed.Events secured provided an economic injection into Townsville North Queensland of more than $2M. A further $4M in leads is pending. Significant achievements for the Convention Bureau included:• 2014 ADC Northern Development Summit

– predicted economic impact $600K• 2015 Planning Institute of Australia

State Conference – predicted economic impact $340K

• 2015 Leaders in Indigenous Medical Education (LIME) – predicted economic impact $188K

• 2015 Occupational Therapy Australia Disability Symposia – predicted economic impact $169K

EDUTOURISM A trade delegation led by Townsville Enterprise and Reef HQ Aquarium visited the United States of America to promote the region’s educational tourism opportunities. Ten universities were visited, resulting in the development of new study abroad programs for the University of Georgia, Texas A&M University and the University of North Carolina, all of which are considered to be significant academic institutions with large student bases and a strong commitment to study abroad programs.

CRUISE A local stakeholder Cruise Committee, chaired by Townsville Enterprise, has been set up to discuss cruise and naval ship attraction and to implement the 2012-2016 Cruise and Military Ship Strategic Plan. As part of the strategy, a number of cruise ship companies were visited during the trade delegation to the United States. Townsville North Queensland welcomed 4,282 passeners from seven cruise ships during the 2013/14 season.

VISITOR SERVICESTownsville Enterprise in partnership with the Townsville City Council operates two accredited Visitor Information Centres – the Bruce Highway Visitor Information Centre and the Townsville Bulletin Square Visitor Information Centre. Townsville Enterprise relies heavily on its enthusiastic and dedicated Volunteers who are an integral part of the organisation, to provide services to visitors to the region.

Our 80 Volunteers serviced 32,799 visitors at the Townsville Bulletin Square Visitor Information Centre and 6,989 visitors at the Bruce Highway Visitor Information Centre during 2013/2014. Volunteers also greeted delegates and prepared welcome packs for a number of business events hosted in the region.

TOURISM AND EVENTS

ADC Forum – Budd Photography

25


TOWNSVILLE ENTERPRISE TRACTION 2013/14

26 Townsville Enterprise Limited | Annual Report 2013/14 27

Townsville Enterprise Limited | Financial Report 2013/14

Your directors present this report on the entity for the financial year ended 30 June 2014.

DirectorsThe following persons were directors of Townsville Enterprise Limited during the whole of the financial year and up to the date of this report:

Kevin Gill – appointed 26/05/2008Jenny Hill – appointed 25/05/2012Sandra Harding – appointed 20/02/2013 Joe Carey – appointed 11/02/2011Laurence Lancini – appointed 12/10/2005Helen Stanton – appointed 13/03/2012

Peter Honeycombe – appointed as a director 14/11/2013 and continues in office at the date of this reportPaul Victory – appointed as a director 14/11/2013 and continues in office at the date of this reportRanee Crosby – appointed as a director 15/05/2014 and continues in office at the date of this report

John Bearne – resigned as a director 13/11/2013Jon Van Grinsven – resigned as a director 13/11/2013

Principal ActivitiesThe Company’s principal continuing activities during the year consisted of the promotion of tourism and economic development in North Queensland.

Review of operationsComments on the operations and the results of those operations are set out below:

Operating revenue for the year ended 30 June 2014 totalled $5,755,409 (2013: $3,439,320). The operating surplus for the year totalled $252,834 (2013: $63,558).

Significant changes in the state of affairsThere were no significant changes in the Company’s state of affairs during the financial year ended 30 June 2014 other than those matters disclosed in the financial report. The directors are not aware of any future developments which will have a significant impact on the operations of the Company.

Matters subsequent to the end of the financial yearSince the end of the financial year the directors are not aware of any matters or circumstances not otherwise dealt with in the report or accounts that have significantly affected the operations of the Company, the results of those operations or the state of affairs of the Company in subsequent financial years.

Developments and expected results of operationsThe past year has resulted in a surplus of $252,834 against a planned budget deficit of $(297,655). The Board had approved the consumption of a portion of the Company’s reserve funds to sustain the level of activity expected of the region’s peak body in an environment of increasingly

tough business conditions which is impacting the ability of members to sustain their memberships and sponsorship commitments.

The turnaround to a surplus resulted primarily from the accommodation works payment received, $300,000, from the Department of Transport and Main Roads for the Southern Highway Visitor Information Centre. These funds have been used in the development of a new kiosk at the Billabong Sanctuary with the remaining funds set aside in a reserve for future visitor information services initiatives.

The region’s Economy (Northern Statistical Division – Value Added Gross Regional Product) grew by $1.15B from $10.27B to $11.43B (11.2%) during the year December 2012 to January 2014 (Source: REMPLAN).

The economic landscape remained relatively unchanged over the past year with business and consumer confidence at low levels with property vacancy rates high. Unemployment rose due to the impacts from reductions in Public Service employment and more significantly the downturn in the mining industry resulting in decreased FIFO/DIDO employment together with a decrease in supply chain employment. Townsville, whilst retaining a strong and diverse economy, is not immune from bearish economic cycles. As such Townsville Enterprise has identified key regional priorities for government support on the back of a proposed asset recycling program:

1. Integrated Stadium and Entertainment Centre2. Continued CBD revitalisation with the development of a tourism and

education centre of excellence in and around the Reef HQ precinct.3. Expanding Townsville airport’s civil and defence aircraft maintenance

capabilities to attract more high level and deep maintenance capabilities thus creating a Centre of Excellence.

There are many more priorities which the Company and Board will consider in the lead up to the State election.

The North and Northwest Queensland Sustainable Resource Feasibility Studies have been completed and are being progressively rolled-out to key stakeholders in Townsville, Cairns and Mackay with the clear objective to create awareness of the energy cost anomaly in the North and to create investor interest in both projects.

The Company continues to produce very high levels of activity and quality outcomes due to the quality, enthusiasm and energy of the team of young professionals. Corporate culture remains robust and strong and is producing a high level of activity and productivity at a time when the importance of member and partner support to sustain and increase that activity has never been greater.

Environmental regulationsNo significant environmental regulations apply to the Company.

TOWNSVILLE ENTERPRISE LIMITED FINANCIAL REPORT 2013/2014

28 Townsville Enterprise Limited | Financial Report 2013/14

KJ Gill

B. Com, CA Chairman 2 years 3 monthsDirector 6 years 1 month Chief Operating Officer – Townsville Airport Pty Ltd, Aviex Pty Ltd Special ResponsibilitiesMember – Finance Audit & Risk Committee

JL Hill

BSc MPHTMDeputy Chairman 2 years 1 monthMayor of Townsville Chairman – Townsville Breakwater Entertainment Centre Joint VentureExecutive Member – Local Government Association of QueenslandChairman – Townsville Local Disaster ManagementTrustee – Jezzine Barracks Community Trust

JI Bearne

FAICD Diploma Structural Engineering, LondonDirector 5 years 5 months (resigned November 2013)Chairman – TCS (Qld) Pty LtdChairman – Jezzine Community TrustChairman – Townsville Hospital Health ServicesChairman – ONX Investments Pty LtdDirector – Townsville Hospital FoundationMember – TATSICHS Finance & Audit Risk CommitteeSpecial ResponsibilitiesChairman – Economic Development Strategic Advisory Committee

JW Carey

B. Com, CPA, Dip FP, Authorised Rep Securitor Pty LtdDirector 3 years 4 months Director – Carey Group of CompaniesDeputy Chairman – Cowboys Leagues Club LimitedChairman – Cowboys Leagues Club Finance Risk & AuditCommitteeSpecial ResponsibilitiesChairman – Finance Audit & Risk Committee

RL Crosby

LLB, GAICD Director 1 month (appointed May 2014)Chief Executive – Port of Townsville LimitedBoard Member – Townsville Chamber of CommerceChairman – Townsville Committee Australian Institute of Company DirectorsDeputy Chairman – James Cook University Futures CommitteeSpecial ResponsibilitiesMember – Economic Development Strategic Advisory Committee

SL Harding

BSc (Hons) ANU, MPub.Admin UQ, PhD NCSU, Hon Doc JIU, FACE, FQA, FAICD, FAIM Director 1 year 4 months Vice-Chancellor and President – James Cook UniversityChair – Universities AustraliaDirector – Regional Australia InstituteCouncil Member – Australian Institute of Marine ScienceDirector – North Queensland Cowboys NRL ClubMember – Defence Science and TechnologyOrganisation (DSTO) Advisory BoardMember – Australian Research Council (ARC) Advisory CouncilDirector – Advance CairnsBoard Member – Skills Queensland

PE Honeycombe

B.Bus. FAICD, FAIM, FREIQDirector 7 months (appointed November 2013) Managing Director – Honeycombes Property Group

L Lancini

Director 8 years 7 months Managing Director – Lancini Group of CompaniesChairman – Cowboys Leagues Club LimitedDirector – Cowboys Community Fund Ltd Director – Reef League Ltd Member – Qld Division Council of the Property Council of AustraliaMember – Salvation Army Advisory BoardSpecial ResponsibilitiesMember – Finance Audit & Risk Committee (resigned October 2013)

HL Stanton

BE, GAICD Director 2 years 2 months Director – Ergon Energy CorporationDirector – Townsville Mackay Medicare Local Director – Northern Territory Power and Water Corporation

JP Van Grinsven

Director 5 years 3 months (resigned November 2013) Managing Director – Pierre Properties Pty Ltd Special ResponsibilitiesChairman – Tourism & Events Strategic Advisory Committee (resigned November 2013)

PA Victory

MA, Grad Dip Bus, BADirector 7 months (appointed November 2013)General Manager – SeaLink Qld/NT Pty LtdSpecial ResponsibilitiesChairman – Tourism & Events Strategic Advisory Committee (appointed November 2013)

DIRECTOR QUALIFICATIONS DIRECTOR QUALIFICATIONS

29

MEETINGS OF DIRECTORS

The numbers of meetings of the Company’s board of directors and of each board committee held during the year ended 30 June 2014, and the number of meetings attended by each director, were:

Full meetings of directors

Meetings of Finance Audit & Riskcommittee

A B A B

Kevin Gill 6 6 5 6

Jenny Hill 4 6 - -

John Bearne 2 2 - -

Joe Carey 5 6 6 6

Ranee Crosby 1 1 - -

Sandra Harding 4 6 - -

Peter Honeycombe 3 4 - -

Laurence Lancini 4 6 1 2

Helen Stanton 6 6 - -

Jon Van Grinsven 2 2 - -

Paul Victory 4 4 - -

A = Number of meetings attended.B = Number of meetings held during the time the director held office or

was a member of the committee during the year.

Directors’ benefitsSince the end of the previous financial year no directors have received or become entitled to receive a benefit (other than a benefit included in the aggregate amount of the emoluments received or due and receivable by directors) by reason of a contract made by the Company or a related corporation with the director or with a firm they are a member of or a company in which they have a substantial financial interest to the financial statements.

Insurance of officersDuring the financial year, Townsville Enterprise Limited paid a premium to insure the directors and secretaries of the Company. Under the arrangement the premium is unable to be disclosed.

The entity is incorporated under the Corporations Act 2001 and is an entity limited by guarantee. If the entity is wound up, the Constitution states that each member is required to contribute a maximum of $20 towards meeting any outstanding obligations of the entity. At 30 June 2014, the total amount that members of the Company are liable to contribute if the Company is wound up is $20 (2013: $20).

Auditor’s Independence DeclarationThe lead auditor’s independence declaration for the year ended 30 June 2014 has been received and follows the directors’ report.

This directors’ report is signed in accordance with a resolution of the Board of Directors.

Kevin GillDirectorTownsville1 September 2014

AUDITOR’S INDEPENDENCE DECLARATION

UNDER S307C OF THE CORPORATIONS ACT 2001 TO THE DIRECTORS OF TOWNSVILLE ENTERPRISE LIMITED

I declare that, to the best of my knowledge and belief, during the year ended 30 June 2014 there have been:

i. no contraventions of the auditor independence requirements as set out in the Corporations Act 2001 in relation to the audit; and

ii. no contraventions of any applicable code of professional conduct in relation to the audit.

Crowe Horwath NQ

Mark AndrejicPrincipal15 September 2014


STATEMENT OF PROFIT AND LOSS AND OTHER COMPREHENSIVE INCOME FOR THE YEAR ENDED 30 JUNE 2014

Note 2014 2013

$ $

Revenue 3 2,720,618 2,651,799

Other income 4 3,034,791 787,521

Total Income 5,755,409 3,439,320

Expenses

Other expenses 5 (3,485,967) (1,262,481)

Employee benefits expense (1,626,613) (1,731,849)

Depreciation and amortisation expense (100,079) (133,953)

Travel (154,806) (113,218)

Finance costs (5,027) (7,070)

Administration (130,083) (127,191)

Total Expenses (5,502,575) (3,375,762)

Surplus 252,834 63,558

Surplus for the year attributable to the members of Townsville Enterprise Limited

17 252,834 63,558

Other comprehensive income for the year - -

Total comprehensive income for the year attributable to the members of Townsville Enterprise Limited

252,834 63,558

STATEMENT OF FINANCIAL POSITION (AS AT 30 JUNE 2014)

Note 2014 2013

$ $

Assets

Current Assets

Cash and cash equivalents 6 1,666,896 1,892,362

Trade and other receivables 7 947,606 673,278

Other 8 24,594 45,078

Total current assets 2,639,096 2,610,718

Non-current assets

Property, plant and equipment 9 221,781 265,940

Intangibles 10 99,063 37,681

Total non-current assets 320,844 303,621

Total assets 2,959,940 2,914,339

Liabilities

Current liabilities

Trade and other payables 11 98,200 33,363

Tax payable 12 90,880 119,837

Employee benefits 13 69,235 72,188

Other 14 1,044,808 1,279,058

Total current liabilities 1,303,123 1,504,446

Non-current liabilities

Employee benefits 15 41,078 46,986

Total non-current liabilities 41,078 46,986

Total liabilities 1,344,201 1,551,432

Net assets 1,615,740 1,362,907

Equity

Reserves 16 876,124 742,680

Retained surpluses 17 739,616 620,227

Total equity 1,615,740 1,362,907


The accompanying notes form part of these financial statements.


31


STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 30 JUNE 2014Asset Revaluation

SurplusGeneralReserve

Retained Surplus

Total Equity

$ $ $ $

Balance at 1 July 2012 64,080 648,000 587,269 1,299,349

Surplus for the year attributable to members of the entity - - 63,558 63,558

Transfers to reserves - 30,600 (30,600) -

Balance at 30 June 2013 64,080 678,600 620,227 1,362,907

Balance at 1 July 2013 64,080 678,600 620,227 1,362,907

Surplus for the year attributable to members of the entity - - 252,834 252,834

Transfers to/from reserves (64,080) 197,524 (133,445) -

Balance at 30 June 2014 - 876,124 739,616 1,615,740

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 JUNE 2014

Note 2014 2013

$ $

Cash flows from operating activities

Payments to suppliers and employees (inclusive of GST) (5,465,891) (3,073,822)

Receipt of grants 2,954,630 710,247

Receipts from members and customers 2,038,002 2,930,801

(473,259) 567,226

Interest received 74,859 50,339

Net cash from operating activities (398,400) 617,565

Cash flows from investing activities

Payments for property, plant and equipment (33,412) (9,257)

Payments for intangible assets (93,986) (4,415)

Proceeds from compensation/sale of assets 300,332 -

Net cash provided by (used in) investing activities 172,934 (13,672)

Net increase in cash and cash equivalents (225,466) 603,893

Cash and cash equivalents at the beginning of the financial year

1,892,362 1,288,469

Cash and cash equivalents at the end of the financial year 6 1,666,896 1,892,362




NOTE 1. SIGNIFICANT ACCOUNTING POLICIES

The principal accounting policies adopted in the preparation of the financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

(a) New, revised or amending Accounting Standards and Interpretations adoptedTownsville Enterprise Limited has adopted all of the new, revised or amending Accounting Standards and Interpretations issued by the Australian Accounting Standards Board (‘AASB’) that are mandatory for the current reporting period.

Any new, revised or amending Accounting Standards or Interpretations that are not yet mandatory have not been early adopted.

Any significant impact on the accounting policies of the company from the adoption of these Accounting Standards and Interpretations are disclosed below. The adoption of these Accounting Standards and Interpretations did not have any significant impact on the financial performance or position of the company.

The following Accounting Standards and Interpretations are most relevant to the company:

AASB 1053 Application of Tiers of Australian Accounting StandardsTownsville Enterprise Limited has early adopted AASB 1053 from 1 July 2012. This standard establishes a differential financial reporting framework consisting of two tiers of reporting requirements for preparing general purpose financial statements, being Tier 1 Australian Accounting Standards and Tier 2 Australian Accounting Standards – Reduced Disclosures Requirements. Townsville Enterprise Limited being classed as Tier 2 continues to apply the full recognition and measurement requirements of Australian Accounting Standards with substantially reduced disclosure in accordance with AASB 2010-2 and later amending Standards, as relevant.

AASB 2010-2 Amendments to Australian Accounting Standards arising from Reduced Disclosure RequirementsTownsville Enterprise Limited has early adopted AASB 2010-2 from 1 July 2012. These amendments make numerous modifications to a range of Australian Accounting Standards and Interpretations, to introduce reduced disclosure requirements to the pronouncements for application by certain types of entities in preparing general purpose financial statements. The adoption of these amendments has significantly reduced the company’s disclosure requirements.

AASB 2011-2 Amendments to Australian Accounting Standards arising from the Trans-Tasman Convergence Project -Reduced Disclosure RequirementsAASB2012-7 Amendments to Australian Accounting Standards arising from Reduced Disclosure Requirements andAASB2012-11 Amendments to Australian Accounting Standards – Reduced Disclosure Requirements and Other AmendmentsTownsville Enterprise Limited has early adopted AASB 2011-2, AASB2012-7 and AASB2012-11 amendments from 1 July 2012, to the extent that they related to other standards already adopted. These amendments make numerous modifications to a range of Australian Accounting Standards and Interpretations to significantly reduce the company’s disclosure requirements.

AASB 2011-9 Amendments to Australian Accounting Standards – Presentation of Items of Other Comprehensive IncomeTownsville Enterprise Limited has applied AASB 2011-9 amendments from 1 July 2012. The amendments require grouping together of items within other comprehensive income on the basis of whether they will eventually be ‘recycled’ to the profit or loss (reclassification adjustments). The change provides clarity about the nature of items presented as other comprehensive income and the related tax presentation. The amendments also introduced the term “Statement of profit or loss and other comprehensive income” clarifying that there are two discrete sections, the profit or loss section (or separate statement of profit or loss) and other comprehensive income section.

AASB 119 Employee Benefits (September 2011) and AASB 2011-10 Amendments to Australian Accounting Standards arising from AASB 119 (September 2011)Townsville Enterprise Limited has applied AASB 119 and its consequential amendments from 1 January 2013. The standard eliminates the corridor approach for the deferral of gains and losses; streamlines the presentation of changes in assets and liabilities arising from defined benefit plans, including requiring remeasurements to be presented in other comprehensive income; and enhances disclosure requirements for defined benefit plans. The standard also changed the definition of short-term employee benefits, from ‘due’ to ‘expected to’ be settled within 12 months. Annual leave not expected to be wholly settled within 12 months is now discounted allowing for expected salary levels in the future period when the leave is expected to be taken.

AASB 2012-5 Amendments to Australian Accounting Standards arising from Annual Improvements 2009-2011 CycleTownsville Enterprise Limited has applied AASB 2012-5 from 1 January 2013. The amendments affect five Australian Accounting Standards as follows: Confirmation that repeat application of AASB 1 (IFRS 1) ‘First-time Adoption of Australian Accounting Standards’ is permitted; Clarification of borrowing cost exemption in AASB 1; clarification of the comparative information requirements when an entity provides an optional third column or is required to present a third statement of financial position in accordance with AASB 101 ‘Presentation of Financial Statements’; clarification that servicing of equipment is covered by AASB 116 ‘Property, Plant and Equipment’, if such equipment is used for more than one period; clarification that the tax effect of distributions to holders of equity instruments and equity transaction costs in AASB 132 ‘Financial Instruments: Presentation’ should be accounted for in accordance with AASB 112 ‘Income Taxes’; and clarification of the financial reporting requirements in AASB 134 ‘Interim Financial Reporting’ and the disclosure requirements of segment assets and liabilities.

(b) Basis of preparationThese general purpose financial statements have been prepared in accordance with Australian Accounting Standards – Reduced Disclosure Requirements and Interpretations issued by the Australian Accounting Standards Board (‘AASB’), and associated regulations and the Corporations Act 2001, as appropriate for not-for-profit oriented entities.

Historical cost conventionThe financial statements have been prepared under the historical cost convention, except for, where applicable, the revaluation of available-for-sale financial assets, financial assets and liabilities at fair value through profit or loss, investment properties, certain classes of property, plant and equipment and derivative financial instruments.

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2014

33

The financial report covers Townsville Enterprise Limited as an individual entity. The financial report is presented in Australian dollars, which is Townsville Enterprise Limited’s function and presentation currency.

The financial report was authorised for issue, in accordance with resolution of the Board of Directors on 1 September 2014. The principle accounting policies adopted in the presentation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Critical accounting estimatesThe preparation of the financial statements requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the Company’s accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the financial statements are disclosed in note 2.

(c) Comparative figuresWhere required by accounting standards, comparative figures have been adjusted to conform to changes in presentation for the current financial year.

(d) Revenue recognitionRevenue is recognised when it is probable that the economic benefit will flow to the Company and the revenue can be reliably measured. Revenue is measured at the fair value of the consideration received or receivable.

Membership and PartnershipMembership and partnership income is recognised in the Statement of Profit and Loss and Other Comprehensive Income in respect of the period to which it relates.

GrantsGrant revenue is recognised in the Statement of Profit and Loss and Other Comprehensive Income when Townsville Enterprise Limited obtains control of the grant and it is probable that the economic benefits gained from the grant will flow to the entity and the amount of the grant can be reliably measured.

If conditions are attached to the grant which must be satisfied before it is eligible to receive the contribution, the recognition of the grant as revenue will be deferred until those conditions are satisfied.

Where grant revenue is received whereby Townsville Enterprise Limited incurs an obligation to deliver economic value directly back to the contributor, this is considered a reciprocal transaction and the grant revenue is recognised in the Statement of Financial Position as a liability until the service has been delivered to the contributor otherwise the grant is recognised as income on receipt. Donations and bequestsDonations and bequests are recognised as revenue when they are received.

InterestInterest revenue is recognised as interest accrues using the effective interest method. This is a method of calculating the amortised cost of a financial asset and allocating the interest income over the relevant period using the effective interest rate, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to the net carrying amount of the financial asset.

Rent Rent revenue from investment properties is recognised on a straight-line basis over the lease term. Lease incentives granted are recognised as

part of the rental revenue. Contingent rentals are recognised as income in the period when earned.

Other RevenueOther revenue is recognised when it is received or when the right to receive the payment is established.

Service RevenueRevenue arising from the rendering of a service is recognised upon the delivery of the service to the clients.

All revenue is stated net of the amount of the goods and services tax (gst).

(e) Income taxAs Townsville Enterprise Limited is a charitable institution in terms of subsection 50-5 of the Income Tax Assessment Act 1997, as amended, it is exempt from paying income tax; no provision for income tax has been raised.

(f) Cash and cash equivalentsCash and cash equivalents includes cash on hand, deposits held at call with financial institutions, other short-term, highly liquid investments with original maturities of three months or less that are readily convertible to known amounts of cash and which are subject to an insignificant risk of changes in value.

(g) Trade and other receivablesTrade receivables are initially recognised at fair value and subsequently measured at amortised cost using the effective interest method, less any provision for impairment. Trade receivables are generally due for settlement within 30 days.

Collectability of trade receivables is reviewed on an on-going basis. Debts which are known to be uncollectable are written off by reducing the carrying amount directly. A provision for impairment of trade receivables is raised when there is objective evidence that Townsville Enterprise Limited will not be able to collect all amounts due according to the original terms of the receivables. Significant financial difficulties of the debtor, probability that the debtor will enter bankruptcy or financial reorganisation and default or delinquency in payments (more than 60 days overdue) are considered indicators that the trade receivable may be impaired. The amount of the impairment allowance is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the original effective interest rate. Cash flows relating to short-term receivables are not discounted if the effect of discounting is immaterial.

Other receivables are recognised at amortised cost, less any provision for impairment.

(h) Property, plant and equipmentPlant and equipment is stated at historical cost less accumulated depreciation and impairment. Historical cost includes expenditure that is directly attributable to the acquisition of the items.

Depreciation is calculated on a straight-line or diminishing value basis to write off the net cost of each item of property, plant and equipment (excluding land) over their expected useful lives as follows:

Leasehold improvements 10 – 50% Plant and equipment 5 – 20% Motor vehicles 25%


The residual values, useful lives and depreciation methods are reviewed, and adjusted if appropriate, at each reporting date.

Leasehold improvements and plant and equipment under lease are depreciated over the unexpired period of the lease or the estimated useful life of the assets, whichever is shorter.

An item of property, plant and equipment is derecognised upon disposal or when there is no future economic benefit to the Company. Gains and losses between the carrying amount and the disposal proceeds are taken to profit or loss. Any revaluation surplus reserve relating to the item disposed of is transferred directly to retained profits.

(i) Fair value measurementWhen an asset or liability, financial or non-financial, is measured at fair value for recognition or disclosure purposes, the fair value is based on the prices that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date; and assumes the transaction will take place in the principal market or, in the absence of a principal market, in the most advantageous market.

Fair value is measured using the assumptions that market participants would use when pricing the asset or liability, assuming they act in their economic best interest. For non-financial assets, their fair value measurement is based on its highest and best use, valuation techniques that are appropriate in the circumstances and for which sufficient data are available to measure fair value, are used, maximising the use of relevant observable inputs and minimising the use of unobservable inputs. (j) Intangible assetsIntangible assets acquired as part of a business combination, other than goodwill, are initially measured at their fair value at the date of the acquisition. Intangible assets acquired separately are initially recognised at cost. Indefinite life intangible assets are not amortised and are subsequently measured at cost less any impairment. Finite life intangible assets are subsequently measured at cost less amortisation and any impairment. The gains or losses recognised in profit or loss arising from the de-recognition of intangible assets are measured as the difference between net disposal proceeds and the carrying amount of the intangible asset. The method and useful lives of finite life intangible assets are reviewed annually. Changes in the expected pattern of consumption of useful life are accounted for prospectively by changing the amortisation method or period.

SoftwareSignificant costs associated with software are deferred and amortised on a straight-line basis over the period of their expected benefit, being their finite life of five years.

Billabong Visitor Information Centre Kiosk (right to use)Townsville Enterprise Limited has an agreement with the Billabong Sanctuary for the right to use the kiosk constructed on their site. Townsville Enterprise Limited incurred the original construction costs (whilst ownership resides with Billabong Sanctuary) which in agreement with Billabong Sanctuary gives Townsville Enterprise Limited the right to use the facilities for the life of the agreement. Townsville Enterprise Limited will amortise the cost over the life of the agreement.

(k) Trade and other payablesThese amounts represent liabilities for goods and services provided to the Company prior to the end of the financial year and which are unpaid. Due to their short-term nature they are measured at amortised cost and are not discounted. The amounts are unsecured and are usually paid within 30 days of recognition.

(l) Employee benefitsShort-term employee benefitsLiabilities for wages and salaries, including on-monetary benefits, annual leave and long service leave expected to be settled within 12 months of the reporting date are recognised in current liabilities in respect of employees’ services up to the reporting date and are measured at the amounts expected to be paid when the liabilities are settled.

Other long-term employee benefitsThe liability for annual leave and long service leave not expected to be settled within 12 months of the reporting date are recognised in non-current liabilities, provided there is an unconditional right to defer settlement of the liability. The liability is measured as the present value of expected future payments to be made in respect of services provided by employees up to the reporting date using the projected unit credit method. Consideration is given to expected future wage and salary levels, experience of employee departures and periods of service. Expected future payments are discounted using market yields at the reporting date on national government bonds with terms to maturity and currency that match, as closely as possible, the estimated future cash outflows.

Defined contribution superannuation expenseContributions to defined contribution superannuation plans are expensed in the period in which they are incurred.

(m) Goods and Services Tax (‘GST’) and other similar taxesRevenues, expenses and assets are recognised net of the amount of associated GST, unless the GST incurred is not recoverable from the Australian Taxation Office (ATO). In this case it is recognised as part of the cost of the acquisition of the asset or as part of the expense.

Receivables and payables are stated inclusive of the amount of GST receivable or payable. The net amount of GST recoverable from, or payable to, the ATO is included in other receivables or other payables in the Statement of Financial Position.

Cash flows are presented on a gross basis. The GST components of cash flows arising from investing or financing activities which are recoverable from or payable to the ATO are presented as operating cash flows.

Commitments and contingencies are disclosed net of the amount of GST recoverable from, or payable to, the ATO.

(n) LeasesLeases of fixed assets, where substantially all the risks and benefits incidental to the ownership of the asset (but not the legal ownership) are transferred to the entity, are classified as finance leases.

Finance leases are capitalised, recognising an asset and a liability equal to the present value of the minimum lease payments, including any guaranteed residual values.

Leased assets are depreciated on a straight-line basis over the estimated useful lives where it is likely that the entity will obtain ownership of the asset. Lease payments are allocated between the reduction of the lease liability and the lease interest expense for the period.

Lease payments for operating leases, where substantially all the risks and benefits remain with the lessor, are recognised as expenses on a straight-line basis over the lease terms.

Lease incentives under operating leases are recognised as liability and amortised on a straight-line basis over the life of the lease term.

Townsville Enterprise Limited | Financial Report 2013/14 35


NOTE 2. CRITICAL ACCOUNTING JUDGEMENTS, ESTIMATES AND ASSUMPTIONS

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the reported amounts in the financial statements. Management continually evaluates its judgements and estimates in relation to assets, liabilities, contingent liabilities, revenue and expenses. Management bases its judgements, estimates and assumptions on historical experience and on other various factors, including expectations of future events management believes to be reasonable under the circumstances. The resulting accounting judgements and estimates will seldom equal the related actual results. The judgements, estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities (refer to the respective notes) within the next financial year, are discussed below.

Estimation of useful lives of assetsThe Company determines the estimated useful lives and related depreciation and amortisation charges for its property, plant and equipment and finite life intangible assets. The useful lives could change significantly as a result of technical innovations or some other event. The depreciation and amortisation charge will increase where the useful lives are less than previously estimated lives, or technically obsolete or non-strategic assets that have been abandoned or sold will be written off or written down.

Long service leave provisionAs discussed in note 1, the liability for long service leave is recognised and measured at the present value of the estimated future cash flows to be made in respect of all employees at the reporting date. In determining the present value of the liability, estimates of attrition rates and pay increases through promotion and inflation have been taken into account.

NOTE 3. REVENUE2014 2013

$ $

Sales revenue

Net Contribution/Compensation from VIC 290,240 2,773

Other revenue

Interest 74,859 50,339

Rent 11,315 10,200

Campaign and Event Income 264,509 370,732

Advertising Income 107,593 46,453

Partnership Income 837,455 984,504

Membership Income 822,826 814,799

Contra Membership Income 127,287 166,619

Other Revenue 184,533 205,380

2,430,378 2,649,026

2,720,618 2,651,599

NOTE 4. OTHER INCOME2014 2013

$ $

Government Grants 2,954,622 710,248

Marketing Packages 41,669 39,773

Project Income 38,500 37,500 Other Income 3,034,791 787,521

NOTE 5. OTHER EXPENSES2014 2013

$ $

Audit and Accounting Expenses 14,759 13,811

Consultants and Contractors 2,323,208 209,017

Facility Expenses 187,181 189,886

Web Development and Maintenance Expenses 43,874 11,647

Design Printing and Reproduction 114,295 87,773

Trade and Exhibition 237,753 236,029

Sponsorship and Membership Expenses 120,218 145,454

Vehicle Expenses 39,414 22,081

Advertising Expenses 225,438 218,366

Employee related Expenses 63,742 33,824

Entertainment Expenses 37,931 24,864

Information Technology Expenses 43,774 40,655

FBT and Payroll Tax 10,569 14,122

Other Expenses 23,811 14,952

3,485,967 1,262,481

NOTE 6. CURRENT ASSETS – CASH AND CASH EQUIVALENTS

2014 2013

$ $

Cash at bank and on hand 1,666,896 1,892,362

1,666,896 1,892,362

Reconciliation to cash and cash equivalents at the end of the financial yearThe above figures are reconciled to cash and cash equivalents at the end of the financial year as shown in the Statement of Cash flows as follows

Balances as above 1,666,896 1,892,362

NOTE 7. CURRENT ASSETS – TRADE AND OTHER RECEIVABLES

2014 2013

$ $

Trade receivables 922,141 672,963

Accrued revenue 24,880 -

Sundry debtors 585 315

947,606 673,278


NOTE 8. CURRENT ASSETS – OTHER 2014 2013

$ $

Prepayments 24,594 45,078

NOTE 9. NON -CURRENT ASSETS – PROPERTY, PLANT AND EQUIPMENT

2014 2013

$ $

Leasehold improvements – at cost 243,236 243,236

Additions 2,250 -

Less: Accumulated depreciation (111,129) (96,450)

134,357 146,786

Plant and equipment – at cost 454,979 454,979

Additions 31,162 -

Less: Disposals (10,096) -


81,963 111,872

Motor vehicles – at cost 49,637 49,637


5,461 7,282

Total non-current assets 221,781 265,940

ReconciliationsReconciliation of the written down value at the beginning and end of the current financial year is set out below:

Leasehold

Improvements

Motor Vehicles

Plant and Equipment

Total

$ $ $ $

Balance at 1 July 2013 146,786 7,282 111,872 265,940

Additions at cost 2,250 - 31,162 33,412

Disposals - - (10,096) (10,096)

Depreciation expense (14,679) (1,821) (50,975) (67,475)

Balance at 30 June 2014 134,357 5,461 81,963 221,781

NOTE 10. NON -CURRENT ASSETS – INTANGIBLES2014 2013

$ $

Billabong VIC Kiosk (right to use) 93,986 -

Less: Accumulated amortisation (7,862) -

86,124 -

Computer Software – at cost 129,524 129,524

Less: Accumulated amortisation (116,585) (91,843)

12,939 37,681

Total intangible assets 99,063 37,681

ReconciliationsReconciliation of the written down value at the beginning and end of the current financial year is set out below:

Billabong VIC Computer Software

Total

$ $ $

Balance at 1 July 2013 - 37,681 37,681

Additions at cost 93,986 - 93,896

Amortisation expense (7,862) (24,742) (32,604)

Balance at 30 June 2014 86,124 12,939 99,063

NOTE 11. CURRENT LIABILITIES – TRADE AND OTHER PAYABLES

2014 2013

$ $

Trade payables 87,792 25,406

Other payables 10,408 7,957

98,200 33,363

NOTE 12. CURRENT LIABILITIES – TAX PAYABLE2014 2013

$ $

GST/PAYG Tax payable 90,880 119,837

NOTE 13. CURRENT LIABILITIES – EMPLOYEE BENEFITS2014 2013

$ $

Annual leave 69,235 72,188

NOTE 14. CURRENT LIABILITIES – OTHER2014 2013

$ $

Accrued expenses 62,829 173,719

Revenue received in advance* 981,979 1,105,339

1,044,808 1,279,058

*Revenue received in advance relates to grant income and membership invoices raised in 2013-14 for 2014-15 year

NOTE 15. NON-CURRENT LIABILITIES – EMPLOYEE BENEFITS

2014 2013

$ $

Long service leave 41,078 46,986

37


NOTE 16. EQUITY – RESERVES2014 2013

$ $

Asset revaluation surplus reserve – Land – 64,080

Visitor Information Centre – Capital reserve 197,524 -

General reserve 678,600 678,600

876,124 742,680

NOTE 17. EQUITY – RETAINED SURPLUSES2014 2013

$ $

Retained surpluses at the beginning of the financial year

620,227 587,269

Transfers to Reserves (133,445) (30,600)

Surplus for the year 252,834 63,558

Retained surpluses at the end of the financial year

739,616 620,227

NOTE 18. CONTINGENT LIABILITIES

Townsville Enterprise Limited has no contingent liabilities at 30 June 2014.

NOTE 19. KEY MANAGEMENT PERSONNEL DISCLOSURES

Any person(s) having authority and responsibility for planning, directing and controlling the activities of the entity, directly or indirectly, including any director (whether executive or otherwise) of that entity is considered key management personnel. The Board of Directors of Townsville Enterprise Limited are designated key management personnel in accordance with the definition provided. No director receives remuneration for their role on the Board. Other management personnel for 2013/2014 include Mr David Kippin (Chief Executive Officer), Ms Patricia O’Callaghan (General Manager Tourism & Events) and Ms Suzanne Willis (General Manager Economic Development & Corporate Services).

2014 2013

$ $

Key management personnel compensation

435,460 502,036

NOTE 20. COMMITMENTS2014 2013

$ $

Lease commitments – operating

Committed at the reporting date but not recognised as liabilities payable

Within one year 16,775 106,291

One to five years 103,076 198,063

119,851 304,354

NOTE 21. RELATED PARTY TRANSACTIONS

Key management personnelDisclosures relating to key management personnel are set out in note 19.

Loans to/from related partiesThere were no loans to or from related parties at the current and previous reporting dates.

NOTE 22. ECONOMIC DEPENDENCY

Townsville Enterprise Limited receives funding from Tourism and Events Queensland (TEQ) and partnership funding from the Townsville City Council (TCC). Funding from TEQ is approximately $609,000:2014-15 ($637,000:2013-14) per financial year whilst sponsorship from TCC is approximately $730,000:2014-15 ($719,000:2013-14) per financial year. At the date of this report the Board of Directors have no reason to believe TEQ or the TCC will not continue to support Townsville Enterprise Limited.

TOWNSVILLE ENTERPRISE LIMITEDDIRECTOR’S DECLARATION

In the director’s opinion:

• the attached financial statements and notes thereto comply with the Corporations Act 2001, the Australian Accounting Standards – Reduced Disclosure Requirements, the Corporations Regulations 2001 and other mandatory professional reporting requirements;

• the attached financial statements and notes thereto give a true and fair view of the Company’s financial position as at 30 June 2014 and of its performance for the financial year ended on that date; and

• there are reasonable grounds to believe that the Company will be able to pay its debts as and when they become due and payable.

Signed in accordance with a resolution of the sole director made pursuant to section 295 (5) (a) of the Corporations Act 2001.

Kevin GillDirectorTownsville1 September 2014


INDEPENDENT AUDIT REPORTTO THE MEMBERS OF TOWNSVILLE ENTERPRISE LIMITED

Report on the Financial ReportWe have audited the accompanying financial report of Townsville Enterprise Limited, which comprises the Statement of Financial Position as at 30 June 2014, the Statement of Profit or Loss and Other Comprehensive Income, Statement of Changes in Equity and Statement of Cash Flows for the year then ended, notes comprising a summary of significant accounting policies and other explanatory information, and the Director’s declaration.

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

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

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

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

IndependenceIn conducting our audit, we have complied with the independence requirements of the Corporations Act 2001. We confirm that the independence declaration required by the Corporations Act 2001, which has been given to the directors of Townsville Enterprise Limited, would be in the same terms if given to the directors as at the time of the auditor’s report.

Auditor’s OpinionIn our opinion the financial report of Townsville Enterprise Limited is in accordance with the Corporations Act 2001, including:

(i) giving a true and fair view of the Company’s financial position as at 30 June 2014 and of its performance for the year ended on that date; and

(ii) complying with Australian Accounting Standards – Reduced Disclosure Requirements to the extent described in Note 1 and complying with the Corporations Regulations 2001.

Crowe Horwath NQ

Mark AndrejicPrincipalTownsville15 September 2014

39

+61 7 4726 2728+61 7 4726 [email protected]

Phone: Fax:Email: Web:

Enterprise House6 The Strand, TownsvilleQueensland, 4810 Australia

TOWNSVILLE ENTERPRISE LIMITEDABN: 58 053 020 536

Date post:	28-May-2020
Category:	Documents
Upload:	others
View:	1 times
Download:	0 times

tsvent-web.s3.amazonaws.com · Affordable energy is one such area that increasingly will be a key...

Documents