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 media.
2008‑09 Priorities
Strategic and operational issues to be pursued in 2008‑09 include:
•	purchasing and implementing a new integrated betting system and point of sale terminals;
•	completing the implementation of the retail facility refurbishment plan;
•	enhancing the functionality and ease of use of ACTTAB’s website facilities; 
•	conducting market research that clearly identifies customer and potential customer segments and the most suitable products to attract and retain them; 
•	monitoring, examining and analysing new product development, both nationally and internationally, to identify potential ACTTAB products;
•	investing in staff through succession planning, performance management, training and development;
•	promoting ACTTAB as a preferred employer through development of attraction/retention strategies;
•	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; and 
•	growing ACTTAB’s community profile as a responsible corporate citizen through targeted partnership and sponsorship arrangements.

Estimated Employment Level
2007-08
Budget			2007-08
Est. Outcome	2008-09
Budget	
74		Staffing  (FTE)	73	74	

ACTTAB	
Operating Statement	
  2007-08			  2007-08	   2008-09		  2009-10	  2010-11	  2011-12		
    Budget			Est.Outcome	   Budget	   Var	  Estimate	   Estimate	  Estimate		
    $'000			   $'000	   $'000	    %	   $'000	    $'000	   $'000		
		Income								
		Revenue								
30,126		User Charges - Non ACT Government	30,023	32,013	7	32,845	33,699	34,533		
529		Interest	660	602	-9	646	712	732		
231		Other Revenue	237	211	-11	216	222	227		
30,886		Total Revenue	30,920	32,826	6	33,707	34,633	35,492		
		Gains								
0		Total Gains	0	0	-	0	0	0		
30,886		Total Income	30,920	32,826	6	33,707	34,633	35,492		
		Expenses								
5,543		Employee Expenses	6,229	6,499	4	6,759	7,029	7,309		
573		Superannuation Expenses	593	620	5	645	670	697		
9,242		Supplies and Services	8,718	9,843	13	10,285	10,636	10,956		
1,115		Depreciation and Amortisation	1,165	1,088	-7	1,180	1,206	1,196		
14		Borrowing Costs	8	9	13	9	11	11		
11,383		Other Expenses	11,618	12,101	4	12,370	12,648	12,929		
27,870		Total Ordinary Expenses	28,331	30,160	6	31,248	32,200	33,098		
3,016		Operating Result From Ordinary Activities	2,589	2,666	3	2,459	2,433	2,394		
898		Income Tax Equivalent	777	800	3	738	730	718		
2,118		Operating Result	1,812	1,866	3	1,721	1,703	1,676		

ACTTAB	
Balance Sheet	
    Budget			Est.Outcome	   Planned		   Planned	   Planned	   Planned		
as at 30/6/08			as at 30/6/08	as at 30/6/09	   Var	as at 30/6/10	as at 30/6/11	as at 30/6/12		
   $'000			   $'000	    $'000	    %	    $'000	    $'000	    $'000		
		Current Assets								
8,599		Cash and Cash Equivalents	12,420	9,851	-21	11,481	13,048	14,879		
812		Receivables	1,070	1,099	3	1,134	1,122	1,145		
104		Inventories	47	50	6	53	53	53		
0		Other	279	275	-1	275	280	280		
9,515		Total Current Assets	13,816	11,275	-18	12,943	14,503	16,357		
		Non Current Assets								
14,507		Property, Plant and Equipment	11,391	15,529	36	15,313	15,233	14,909		
438		Tax Assets	623	623	-	623	623	623		
14,945		Total Non Current Assets	12,014	16,152	34	15,936	15,856	15,532		
24,460		TOTAL ASSETS	25,830	27,427	6	28,879	30,359	31,889		
		Current Liabilities								
4,538		Payables	5,554	6,158	11	6,788	7,390	8,060		
650		Employee Benefits	406	422	4	439	457	475		
2,518		Other Provisions	906	933	3	861	852	838		
7,706		Total Current Liabilities	6,866	7,513	9	8,088	8,699	9,373		
		Non Current Liabilities								
71		Employee Benefits	415	432	4	449	467	485		
71		Total Non Current Liabilities	415	432	4	449	467	485		
7,777		TOTAL LIABILITIES	7,281	7,945	9	8,537	9,166	9,858		
16,683		NET ASSETS	18,549	19,482	5	20,342	21,193	22,031		
		REPRESENTED BY FUNDS EMPLOYED								
15,561		Accumulated Funds	17,788	18,721	5	19,581	20,432	21,270		
1,122		Reserves	761	761	-	761	761	761		
16,683		TOTAL FUNDS EMPLOYED	18,549	19,482	5	20,342	21,193	22,031		

ACTTAB	
Cash Flow Statement	
  2007-08			  2007-08	   2008-09		  2009-10	  2010-11	  2011-12		
    Budget			Est.Outcome	   Budget	   Var	  Estimate	   Estimate	  Estimate		
    $'000			   $'000	   $'000	    %	   $'000	    $'000	   $'000		
		CASH FLOWS FROM OPERATING ACTIVITIES								
		Receipts								
30,126		User Charges	30,023	32,013	7	32,845	33,699	34,533		
529		Interest Received	660	602	-9	646	712	732		
232		Other Revenue	237	211	-11	216	222	227		
30,887		Operating Receipts	30,920	32,826	6	33,707	34,633	35,492		
		Payments								
6,116		Related to Employees	6,522	6,806	4	7,079	7,362	7,656		
9,242		Related to Supplies and Services	8,541	9,630	13	10,070	10,419	10,737		
8		Borrowing Costs	0	0	-	0	0	0		
12,281		Other	12,324	12,827	4	13,031	13,298	13,564		
27,647		Operating Payments	27,387	29,263	7	30,180	31,079	31,957		
3,240		NET CASH INFLOW/(OUTFLOW) FROM OPERATING ACTIVITIES	3,533	3,563	1	3,527	3,554	3,535		
		CASH FLOWS FROM INVESTING ACTIVITIES								
		Payments								
4,160		Purchase of Property, Plant and Equipment	1,928	5,226	171	964	1,126	852		
4,160		Investing Payments	1,928	5,226	171	964	1,126	852		
-4,160		NET CASH INFLOW/(OUTFLOW) FROM INVESTING ACTIVITIES	-1,928	-5,226	-171	-964	-1,126	-852		
		CASH FLOWS FROM FINANCING ACTIVITIES								
		Payments								
2,625		Dividends to Government	2,764	906	-67	933	861	852		
2,625		Financing Payments	2,764	906	-67	933	861	852		
-2,625		NET CASH INFLOW/(OUTFLOW) FROM FINANCING ACTIVITIES	-2,764	-906	67	-933	-861	-852		
-3,545		NET INCREASE/(DECREASE) IN CASH HELD	-1,159	-2,569	-122	1,630	1,567	1,831		
12,144		CASH AT BEGINNING OF REPORTING PERIOD	13,579	12,420	-9	9,851	11,481	13,048		
8,599		CASH AT THE END OF THE REPORTING PERIOD	12,420	9,851	-21	11,481	13,048	14,879		

ACTTAB	
Statement of Changes in Equity	
    Budget			Est.Outcome	   Planned		   Planned	   Planned	   Planned		
as at 30/6/08			as at 30/6/08	as at 30/6/09	   Var	as at 30/6/10	as at 30/6/11	as at 30/6/12		
   $'000			   $'000	    $'000	    %	    $'000	    $'000	    $'000		
15,625		Opening Balance	17,643	18,549	5	19,482	20,342	21,193		
		Accumulated Funds								
-1		Net Effect of a Correction of an Error	0	0	-	0	0	0		
2,118		Operating Result for the Period	1,812	1,866	3	1,721	1,703	1,676		
		Reserves								
2,117		Total Income And Expense For The Period	1,812	1,866	3	1,721	1,703	1,676		
		Transactions Involving Equity Holders Affecting Accumulated Funds								
-1,059		Dividend Approved	-906	-933	-3	-861	-852	-838		
16,683		Closing Balance	18,549	19,482	5	20,342	21,193	22,031		
Notes to the Budget Statements
Significant variations are as follows:
Operating Statement
•	user charges - non ACT Government:  the increase of $1.990 million in the 2008‑09 Budget from the 2007‑08 estimated outcome is due to expected increases in activity across all products.
•	employee expenses:
–	the increase of $0.686 million in the 2007‑08 estimated outcome from the original budget is due to the staffing of two additional outlets and additional casual staffing requirements; and
–	the increase of $0.270 million in the 2008‑09 Budget from the 2007‑08 estimated outcome is due to anticipated Enterprise Bargaining Agreement increases.
•	supplies and services:
–	the decrease of $0.453 million in the 2007‑08 estimated outcome from the original budget is due to a reduction in agent commission payments, marketing costs and professional fees; and
–	the increase of $1.128 million in the 2008‑09 Budget from the 2007‑08 estimated outcome is due to an expected increase in turnover related expenditure, an increase in property costs and increased marketing expenditure.
Balance Sheet
•	cash and cash equivalents:
–	the increase of $3.821 million in the 2007‑08 estimated outcome from the original budget is largely due to planned capital expenditure being delayed until the 2008‑09 financial year; and
–	the decrease of $2.569 million in the 2008‑09 Budget from the 2007‑08 estimated outcome reflects the purchase of property, plant and equipment.
•	property, plant and equipment:  the increase of $4.138 million in the 2008‑09 Budget from the 2007‑08 estimated outcome is due to capital expenditure on items such as point of sale terminals, new betting system, the refurbishment of outlets, and computer software and hardware.
•	payables:  the increase of $1.016 million in the 2007‑08 estimated outcome from the original budget is largely due to an increase in customer account deposits and unclaimed winnings.
•	other provisions:  the decrease of $1.612 million in the 2007‑08 estimated outcome from the original budget is due to a reclassification of accounts.
•	non current liabilities - employee benefits:  the increase of $0.344 million in the 2007‑08 estimated outcome from the original budget is due to a change in the accounting treatment for Long Service Leave, whereby employee benefits greater than 12 months are non current.
Cash Flow Statement
•	purchase of property, plant and equipment:  the decrease of $2.232 million in the 2007‑08 estimated outcome from the original budget is due to a decrease in capital expenditure, with projects delayed until 2008‑09.
•	dividends to government:  the decrease in the 2008‑09 budget from the estimated outcome of $1.858 million is due to the proceeds from the sale of the former head office in Dickson being included in the 2007‑08 dividend payment.
Statement of Changes in Equity
Variances in the statement are explained in the notes above.