ACTTAB LIMITED
Objectives
ACTTAB Limited aims to maintain and grow its share of the national gaming and wagering market through the responsible provision of a comprehensive suite of products, delivered to consumers by utilising contemporary technology and communication mediums.
2009-10 Priorities
Strategic and operational issues to be pursued in 2009-10 include:
•	securing on-going pari-mutuel pooling capacity beyond the expiration of the current agreement in 2012;
•	purchasing and implementing a new integrated betting system and selling terminals;
•	continuing to ensure that the harmful effects of gambling are minimised through the provision of appropriate staff training and consumer education, and by maintaining the availability of appropriate counselling services and information;
•	identifying and building on synergies with potential partners to expand ACTTAB’s services, product range and market share;
•	continuing to enhance the functionality and usability of ACTTAB’s website facilities;
•	investing in people through succession planning, performance management, training and development;
•	enhancing the efficiency and cost effectiveness of the Corporation’s retail network through the ongoing review of venue composition and delivery channels; and
•	continuing to grow ACTTAB’s community profile as a responsible corporate citizen through targeted partnership and sponsorship arrangements.

Estimated Employment Level
2008-09
Budget			2008-09
Est. Outcome	2009-10
Budget	
74		  Staffing  (FTE)	69	69	

ACTTAB
Operating Statement
  2008-09			  2008-09	   2009-10		  2010-11	    2011-12	  2012-13		
    Budget			Est.Outcome	   Budget	     Var	  Estimate	    Estimate	  Estimate		
    $'000			    $'000	   $'000	      %	    $'000	     $'000	   $'000		
		Income								
		Revenue								
32,013		User Charges - Non ACT Government	32,574	33,544	3	34,215	34,899	35,597		
602		Interest	668	563	-16	569	574	580		
211		Other Revenue	256	123	-52	124	125	127		
32,826		Total Revenue	33,498	34,230	2	34,908	35,598	36,304		
		Gains								
0		Total Gains	0	0	-	0	0	0		
32,826		Total Income	33,498	34,230	2	34,908	35,598	36,304		
		Expenses								
6,499		Employee Expenses	6,660	6,842	3	7,118	7,407	7,708		
620		Superannuation Expenses	566	627	11	653	680	708		
9,843		Supplies and Services	11,103	10,497	-5	10,621	10,747	10,843		
1,088		Depreciation and Amortisation	1,364	1,415	4	1,534	1,524	1,498		
9		Borrowing Costs	0	0	-	0	0	0		
12,101		Other Expenses	12,787	14,651	15	14,859	15,072	15,288		
30,160		Total Ordinary Expenses	32,480	34,032	5	34,785	35,430	36,045		
2,666		Operating Result From Ordinary Activities	1,018	198	-81	123	168	259		
800		Income Tax Equivalent	305	59	-81	36	50	77		
1,866		Operating Result	713	139	-81	87	118	182		

ACTTAB
Balance Sheet
    Budget			Est.Outcome	    Planned		   Planned	   Planned	   Planned		
as at 30/6/09			as at 30/6/09	as at 30/6/10	   Var	as at 30/6/11	as at 30/6/12	as at 30/6/13		
   $'000			   $'000	     $'000	    %	    $'000	    $'000	    $'000		
		Current Assets								
9,851		Cash and Cash Equivalents	9,936	6,204	-38	6,930	7,793	8,728		
1,099		Receivables	822	854	4	889	924	961		
50		Inventories	104	107	3	107	107	107		
275		Other	87	87	-	87	87	87		
11,275		Total Current Assets	10,949	7,252	-34	8,013	8,911	9,883		
		Non Current Assets								
15,529		Property, Plant and Equipment	12,416	13,854	12	13,289	12,606	11,851		
0		Intangibles	214	2,323	986	2,216	2,095	1,970		
623		Tax Assets	623	623	-	623	623	623		
16,152		Total Non Current Assets	13,253	16,800	27	16,128	15,324	14,444		
27,427		TOTAL ASSETS	24,202	24,052	-1	24,141	24,235	24,327		
		Current Liabilities								
6,158		Payables	3,305	3,336	1	3,370	3,350	3,279		
422		Employee Benefits	422	440	4	458	478	497		
933		Other Provisions	356	69	-81	43	59	91		
7,513		Total Current Liabilities	4,083	3,845	-6	3,871	3,887	3,867		
		Non Current Liabilities								
432		Employee Benefits	432	450	4	469	488	509		
432		Total Non Current Liabilities	432	450	4	469	488	509		
7,945		TOTAL LIABILITIES	4,515	4,295	-5	4,340	4,375	4,376		
19,482		NET ASSETS	19,687	19,757	..	19,801	19,860	19,951		
		REPRESENTED BY FUNDS EMPLOYED								
18,721		Accumulated Funds	18,166	18,236	..	18,280	18,339	18,430		
761		Reserves	1,521	1,521	-	1,521	1,521	1,521		
19,482		TOTAL FUNDS EMPLOYED	19,687	19,757	..	19,801	19,860	19,951		

ACTTAB
Cash Flow Statement
  2008-09			  2008-09	   2009-10		  2010-11	    2011-12	  2012-13		
    Budget			Est.Outcome	   Budget	     Var	  Estimate	    Estimate	  Estimate		
    $'000			    $'000	   $'000	      %	    $'000	     $'000	   $'000		
		CASH FLOWS FROM OPERATING ACTIVITIES								
		Receipts								
32,013		User Charges	32,574	33,544	3	34,215	34,899	35,597		
602		Interest Received	668	563	-16	569	574	580		
211		Other Revenue	256	123	-52	124	125	127		
32,826		Operating Receipts	33,498	34,230	2	34,908	35,598	36,304		
		Payments								
6,186		Related to Employees	6,338	6,480	2	6,741	7,014	7,298		
620		Related to Superannuation	566	627	11	653	680	708		
9,630		Related to Supplies and Services	11,425	10,859	-5	10,998	11,140	11,253		
12,827		Other	13,092	14,710	12	14,895	15,122	15,365		
29,263		Operating Payments	31,421	32,676	4	33,287	33,956	34,624		
3,563		NET CASH INFLOW/ (OUTFLOW) FROM OPERATING ACTIVITIES	2,077	1,554	-25	1,621	1,642	1,680		
		CASH FLOWS FROM INVESTING ACTIVITIES								
		Payments								
5,226		Purchase of Property, Plant and Equipment and Capital Works	1,914	2,997	57	852	720	654		
0		Purchase of Land and Intangibles	0	2,220	-	0	0	0		
5,226		Investing Payments	1,914	5,217	173	852	720	654		
-5,226		NET CASH INFLOW/ (OUTFLOW) FROM INVESTING ACTIVITIES	-1,914	-5,217	173	-852	-720	-654		
		CASH FLOWS FROM FINANCING ACTIVITIES								
		Payments								
906		Dividends to Government	356	69	-81	43	59	91		
906		Financing Payments	356	69	-81	43	59	91		
-906		NET CASH INFLOW/ (OUTFLOW) FROM FINANCING ACTIVITIES	-356	-69	81	-43	-59	-91		
-2,569		NET INCREASE/ (DECREASE) IN CASH HELD	-193	-3,732	#	726	863	935		
12,420		CASH AT BEGINNING OF REPORTING PERIOD	10,129	9,936	-2	6,204	6,930	7,793		
9,851		CASH AT THE END OF THE REPORTING PERIOD	9,936	6,204	-38	6,930	7,793	8,728		

ACTTAB
Statement of Changes in Equity
    Budget			Est.Outcome	    Planned		   Planned	   Planned	   Planned	
as at 30/6/09			as at 30/6/09	as at 30/6/10	   Var	as at 30/6/11	as at 30/6/12	as at 30/6/13	
   $'000			   $'000	     $'000	    %	    $'000	    $'000	    $'000	
18,549		Opening Balance	20,014	19,687	-2	19,757	19,801	19,860	
		Accumulated Funds							
0		Net Effect of a Correction of an Error	-636	0	100	0	0	0	
1,866		Operating Result for the Period	713	139	-81	87	118	182	
		Reserves							
0		Increase/(Decrease in asset revaluation reserve	-48	0	100	0	0	0	
1,866		Total Income And Expense For The Period	29	139	379	87	118	182	
		Transactions Involving Equity Holders Affecting Accumulated Funds							
-933		Dividend Approved	-356	-69	81	-43	-59	-91	
19,482		Closing Balance	19,687	19,757	..	19,801	19,860	19,951	
Notes to the Budget Statements
Significant variations are as follows:
Operating Statement
•	interest revenue:
•	the increase of $0.066 million in the 2008-09 estimated outcome from the original budget is largely due to delays in the capital expenditure program resulting in ACTTAB having additional funds for investment; and
•	the decrease of $0.105 million in the 2009-10 Budget from the 2008-09 estimated outcome is due to reduced investment returns on investments as a result of falling interest rates.
•	supplies and services:
•	the increase of $1.260 million in the 2008-09 estimated outcome from the original budget is due to increased processing fees due to additional VIP and Retail turnover; and
•	the decrease of $0.606 million in the 2009-10 Budget from the 2008-09 estimated outcome is due to savings in processing fees as a result of new agreements being negotiated for the Corporation’s racing and sports betting products.
•	depreciation and amortisation:  the increase of $0.276 million in the 2008-09 estimated outcome from the original budget is due to the original budget being understated.
•	
other expenses:
•	the increase of $0.686 million in the 2008-09 estimated outcome from the original budget is due to the imposition of product fees by interstate jurisdictions and increased payments to the Racing Development Fund due to higher racing turnover; and
•	the increase of $1.864 million in the 2009-10 Budget from the 2008-09 estimated outcome is due to product fees being charged by interstate jurisdictions for the full financial year.
Balance Sheet
•	cash and cash equivalents:  the decrease of $3.732 million in the 2009-10 Budget from the 2008-09 estimated outcome is mainly due to the purchase of a new betting system and retail selling terminals in 2009-10.
•	property, plant and equipment:
•	the decrease of $3.113 million in the 2008-09 estimated outcome from the original budget is due to capital expenditure being delayed from 2008-09 to 2009-10; and
•	the increase of $1.438 million in the 2009-10 Budget from the 2008-09 estimated outcome is due to the purchase of a new betting system and retail selling terminals.
•	intangibles:  the increase of $2.109 million in the 2009-10 Budget from the 2008-09 estimated outcome is due to the purchase of software for a new betting system.
•	other provisions:  the decrease of $0.577 million in the 2008-09 estimated outcome from the original budget and the decrease of $0.287 million in the 2009-10 Budget from the 2008-09 estimated outcome reflects lower dividend payments to the Government.
Cash Flow Statement
Variations in the statement are explained in the notes above.