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Annual Report2004/ 2005
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1
26 September 2005
The Hon Fran Bailey MP Minister for Small Business and TourismParliament HouseCANBERRA ACT 2600
Dear Minister,
I have pleasure in presenting the first annual report of Tourism Australia forthe reporting period of 1 July 2004 to 30 June 2005 in accordance with clause39 of the Tourism Australia Act 1994 and section 9 of the Commonwealth Authorities and Companies Act 1997 .
Yours sincerely,
The Hon Tim Fischer ACChairmanTourism Australia
P.S. It has been a dynamic first year for Tourism
Australia, laying a solid foundation
towards furt her
boosting tourism spread and spend. T he weig hts are
on
to ensure t his now happens.
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Contact officerFor more information about this annual report, please contact:General Manager, Corporate AffairsTourism AustraliaGPO Box 2721Sydney NSW 1006
InternetYou can access this report online at www.tourism.australia.com
Additional information sources2004-2005 Portfolio Budget Statements2004-2005 Portfolio Additional Estimates StatementsTourism Australia Annual Operating Plan 2004/05Tourism Australian Corporate Plan 2005/06 – 2007/08
Freedom of InformationTourism Australia is a prescribed authority under the Freedom of Information Act 1982.No FOI requests were received by Tourism Australia during the review period.The contact officer for FOI requests from Tourism Australia is:John HopwoodDirector, Corporate ServicesTourism Australia
© Commonwealth of Australia 2005
This work is copyright. Apart from any use as permitted under the Copyright Act 1968, no part may b e reproduced byany process without prior written permission from the Commonwealth. Requests and inquiries concerning reproductionand rights should be addressed to the Commonwealth Copyright Administration, Attorney General’s Department,Robert Garran Offices, National Circuit, Barton ACT 2600 or pos ted at http://www.ag.gov.au/cca
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RECORD OF BOARD MEMBERS AND ATTENDANCE
The Board met seven times during the year in Sydney, Alice Springs and Hobart and h ad an aggregateattendance of directors of 99 per cent.
Board members also represented TA at both industry and general forums.
MEMBERDATE OF APPOINTMENT/
REAPPOINTMENTEXPIRY OF
APPOINTMENT BOARD MEETINGS
ATTENDANCE
Hon Tim Fischer
Chairman
1 July 2004 30 June 2007 7
Mr Tony ClarkDeputy Chairman
1 July 2004 30 June 2005 7
Mr Scott MorrisonManaging Director
13 December 2004 At Board’s pleasure 3
Mr Ken BoundyActing Managing Director
1 July 2004 10 December 2004 4
Mr Andrew BurnesDirector
1 July 2004 30 June 2007 7
Mr Wayne Kirkpatrick
Director
1 July 2004 30 June 2005 7
Mr Gerry HarveyDirector
1 July 2004 30 June 2005 6
Ms Karen JacobsDirector
1 July 2004 30 June 2005 7
Ms Jane JeffreysDirector
1 July 2004 30 June 2005 7
Ms Valerie DaviesDirector
1 July 2004 30 June 2005 7
Mr Mark PatersonGovernment member
1 July 2004 30 June 2007 4
Ms Patricia KellyAlt Government member
1 July 2004 30 June 2007 3
Note: All Board members with a 30 June 2005 expiry date, with the exception of Mr Gerry Harvey, were re-appointed for a further term.
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The Hon Mr Tim Fischer AC, ChairmanAppointed to the Board in July 2004
Mr Tony Clark AM, Deputy ChairmanAppointed to the Board in July 2004
Mr Scott Morrison, Managing DirectorAppointed Managing Director in December 2004
Mr Gerry Harvey, DirectorAppointed to the Board in July 2004Appointment current to 30 June 2005
Ms Valerie Davies, DirectorAppointed to the Board in July 2004
Ms Jane Jeffreys, DirectorAppointed to the Board in July 2004
Mr Wayne Kirkpatrick, DirectorAppointed to the Board in July 2004
Mr Andrew Burnes, DirectorAppointed to the Board in July 2004
Ms Karen Jacobs, DirectorAppointed to the Board in July 2004
Mr Mark Paterson, Government MemberAppointed to the Board in July 2004
Ms Patricia Kelly, Alternate Government MemberAppointed to the Board in July 2004
Directors of Tourism Australia
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OVERVIEWThe Marketing department is responsible for the development and execution of Tourism Australia’smarketing program.
The 2004/05 fiscal year has seen th e execution of the ‘Australia. A Different Light’ campaign with brandcampaign strategy being evolved and executed in line with Tourism Australia’s Corporate Plan.
As part of the evolved brand strategy, support services were d eveloped to ensure the optimaleffectiveness of the campaign. A particular focus for Marketing has been the development of online and digital marketing platforms.
Marketing
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STATEMENT BY DIRECTORSIn our opinion, the attached financial statements for the year ended 30 June 2005 are based onproperly maintained financial records and give a true and fair view of the matters required by theFinance Minister’s Orders made under the Commonwealth Authorities and Companies Act 1997 .
We are also satisfied that Tourism Australia has in place appropriate fraud control mechanismsthat meet the needs of Tourism Australia and comply with Australian Government guidelinesfor this financial year, including annual report requirements.
In our opinion, at the date of this statement, there are reasonable grounds to believe thatTourism Australia will be able to pay its debts as and when they become due and p ayable.
Tim Fischer Scott Morrison Chairman Managing Director12 August 2005 12 August 2005
Tourism Australia
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STATEMENT OF FINANCIAL POSITIONAs at 30 June 2005
ASSETS Notes2005
$’000
Financial assets
Cash 6a 16,768
Receivables 6b 8,348
Other 6c 2,141
Inventories 6d 149
Total financial assets 27,406
Non-financial assets
Investments 6e 110
Plant and equipment 7a & b 1,606
Intangibles 7a & b 3,978
Total non-financial assets 5,694
Total assets 33,100
LIABILITIESProvisions
Employees 8a 4,569Total provisions 4,569
Payables
Suppliers 8b 13,388
Other payables 8c 1,059
Total payables 14,447
Total liabilities 19,016
Net assets 14,084
EQUITY
Parent entity interest
Contributed equity 9 827
Reserves 9 684
Accumulated surplus 9 12,573
Total equity 14,084
Current assets 27,406
Non-current assets 5,694
Current liabilities 17,751
Non-current liabilities 1,265
The above statement should be read in conjunction with the accompanying notes.
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SCHEDULE OF COMMITMENTSAs at 30 June 2005
Notes2005
$’000
BY TYPE
Other commitments
Operating leases 1 19,724
Other commitments 2 28,916
Total other commitments 48,640
Commitments receivable 3 (330)
Net commitments 48,310
BY MATURITYOperating lease commitments
One year or less 4,846
From one to five years 10,874
Over five years 4,004
Total operating lease commitments 19,724
Other CommitmentsOne year or less 17,873
From one to five years 11,043
Total other commitments 28,916
Commitments receivable 3 (330)
Net commitments 48,310
NB: Commitments are GST inclusive where relevant.
1 Operating leases comprise leases for office accommodation and computer leases.
2 Other commitments comprise amounts payable under project agreements in respect of which therecipient is yet to either perform the services required or meet eligibility conditions.
3 Commitments receivable comprises GST recoverable.
The above schedule should be read in conjunction with the accompanying notes.
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NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTSFor the year ended 30 June 2005
NOTE 4 OPERATING REVENUES (continued)
4f NET FOREIGN EXCHANGE GAINS2005
$’000
Non-speculative 958
Total 958
4g NET GAIN / (LOSS) FROM DISPOSAL OF ASSETS
Plant and equipment
Proceeds from disposal 45
Net book value of assets disposed (380)
Total net (loss) from disposal of assets (335)
4h OTHER REVENUE
Office sub-tenancies 846
Other revenue 282
Total other revenue 1,128
1 Industry contributions reflect the actual value of ind ustry support for Tourism Australia’s activities from cash revenue. In addition todirect revenues from the industry, joint marketing programs were undertaken. Through these programs the industry supplementsfunds provided by TA for product development, visiting journalist and tactical marketing programs. Due to the nature of the programs,these funds do not form p art of the reported level of industry contributions for Tourism Australia, but are in addition to it.
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NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTSFor the year ended 30 June 2005
NOTE 6 FINANCIAL ASSETS
6a CASH2005
$’000
Australian Dollars 14,794
New Zealand Dollars 167
Euro 57
Hong Kong Dollars 225Korean Won 29
Japanese Yen 46
Great Britain Pounds 1,086
United States Dollars 148
Singapore Dollars 100
Malaysian Ringgit 37
Thailand Baht 47
Chinese Yuan 27
Other 5
Total Cash 16,768
Balance of cash as at 30 June shown in the Statement of Cash Flows 16,768
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NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTSFor the year ended 30 June 2005
NOTE 6 FINANCIAL ASSETS (continued)
6c OTHER FINANCIAL ASSETS2005
$’000
Prepaid expenses 2,141
Total 2,141
6d INVENTORIESInventories 149
All inventories are current assets
6e OTHER INVESTMENTS
Shares in other company – unlisted (at cost) 400
Less: Provision for diminution in value (290)
Total Other Investments 110
Tourism Australia held an 11.9 per cent interest in Australian Tourism Data Warehouse Pty Limited(ATDW), which is carried at cost less provision for diminution in value. The provision is based on the
estimated statement of financial position of ATDW as at 30/6/2005. ATDW’s principal activity is thedevelopment of a database for Australian Tourism Products. The investment is a non-current investment.
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NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTSFor the year ended 30 June 2005
NOTE 7 NON-FINANCIAL ASSETS (continued)
7b ANALYSIS OF PLANT, EQUIPMENT AND I NTANGIBLES
Table A – Reconciliation of the opening and closing balances of property, plant and equipment and intangibles
Item
Total Plant& Equipment
$’000
Software
$’000
Trade Marks
$’000
Total
$’000As at 1 July 2004
Gross book value 7,425 7,086 108 14,619
Accumulated depreciation/amortisation (5,806) (4,863) – (10,669)
Net book value 1,619 2,223 108 3,950
Additions by purchase 954 2,562 – 3,516
Net revaluation increment/decrement 53 – – 53
Depreciation/amortisation expense (540) (892) (11) (1,443)
Disposals (368) (12) – (380)
Other movement (112) – – (112)
As at 30 June 2005
Gross book value 4,483 9,394 108 13,985
Accumulated depreciation/amortisation (2,877) (5,513) (11) (8,401)
Net book value at 30 June 2005 1,606 3,881 97 5,584
Table B – Assets at valuation
Item
Total Plant& Equipment
$’000Software
$’000Trade Marks
$’000Total$’000
As at 30 June 2005Gross value 4,483 – – 4,483
Accumulated Depreciation/Amortisation (2,877) – – (2,877)
Net book value 1,606 – – 1,606
Table C – Assets under construction
Item
Total Plant& Equipment
$’000Software
$’000Trade Marks
$’000Total$’000
Gross value at 30 June 2005 163 1,715 – 1,878
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NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTSFor the year ended 30 June 2005
NOTE 9 EQUITY
AccumulatedResults
Assetrevaluation
reserve
Other reserve(GeneralReserve)
TotalContributed
Equity
Total Equity
Item2005
$’0002005
$’0002005
$’0002005
$’0002005
$’000
Opening Balance 1 July 2004 8,256 353 278 278 9,165Net surplus/deficit 4,317 – – – 4,317
Net revaluation increment/(decrement)
– (163) 216 – 53
Transactions with owner:
Contributions by owner:
Appropriation (equity injections) – – – 549 549
Transfers to/(from) reserves – – – – –
Closing Balance 30 June 2005attributable to the AustralianGovernment
12,573 190 494 827 14,084
The net revaluation increase in the asset revaluation reserve comprises: 2005$’000
> Revaluation increment/(decrement) – furniture and fittings (115)
> Revaluation increment – leasehold improvements 169
53
The Asset Revaluation Reserve contains unrealised gains from the revaluation of assets. Onrealisation, these amounts are transferred to the General Reserve.
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NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTSFor the year ended 30 June 2005
NOTE 11 DIRECTORS’ REMUNERATION
The number of directors o f Tourism Australia included in these figures is shown below in therelevant remuneration bands:
2005Number
Nil 2
$30,000 – 39,999 6
$50,000 – 59,999 1
$60,000 – 69,999 1$170,000 – 179,999 1
$380,000 – 389,999 1
Total Number of Directors 12
2005$
Remuneration received or due and receivable by directors 821,465
Aggregate amount of superannuation payments in connection with the retirement of directors 45,391
Total remuneration received or due and receivable by directors 866,856
Remuneration includes accrued recreation leave, long service leave and separation payments where applicable.
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