STADIUMS AUTHORITY
Objectives
The Stadiums Authority’s (the Authority) primary objectives are to ensure that it manages Canberra Stadium (the Stadium), its events, assets and resources in a manner that promotes the Stadium as a leading sports venue and provides an optimum commercial return to the Government on its investment in the facilities.
The Authority will operate on a sound commercial basis without Government subsidy and will continue to promote and develop a range of products and services that are consistent with its core expertise and maximise revenue opportunities.
The Authority will explore and establish new business opportunities and continue to promote the Stadium for financially viable national and international events.
The Authority will continue to promote appropriate community usage of the Stadium’s facilities. 
2005‑06 Highlights
Strategic and operational issues to be pursued in 2005‑06 include:
•	conducting 24 events including 7 ACT Rugby Union games, 12 National Rugby League games and 5 others including an international sporting event, an entertainment event, the Kanga Cup, ACT Junior Rugby Union and Junior Rugby League Grand Finals;
•	optimising revenues from the use of the Stadium through memberships, corporate sales and catering commissions;
•	growing and developing the video screen operations and production services;
•	reviewing and implementing the long‑term turf management plan; 
•	completing the upgrade of the sound system at the Stadium; and
•	reviewing the Stadium’s lease agreement and long-term development in conjunction with a new strategic plan for the Authority.

Stadiums Authority	
Operating Statement	
  2004‑05			  2004‑05	   2005‑06		  2006-07	  2007-08	  2008-09		
    Budget			Est.Outcome	   Budget	   Var	  Estimate	   Estimate	  Estimate		
    $'000			   $'000	   $'000	    %	   $'000	    $'000	   $'000		
		Income								
		Revenue								
2  096		User Charges - Non ACT Government	2  063	2  344	14	2  403	2  463	2  445		
590		User Charges - ACT Government	594	0	-100	0	0	0		
60		Interest	63	54	-14	54	54	54		
639		Other Revenue	834	847	2	865	884	821		
3  385		Total Revenue	3  554	3  245	-9	3  322	3  401	3  320		
		Gains								
0		Total Gains	0	0	-	0	0	0		
3  385		Total Income	3  554	3  245	-9	3  322	3  401	3  320		
		Expenses								
767		Employee Expenses	803	875	9	897	919	919		
73		Superannuation Expenses	85	89	5	91	93	93		
1  518		Supplies and Services	1  825	1  889	4	1  934	1  983	1  979		
222		Depreciation and Amortisation	324	604	86	629	644	649		
12		Borrowing Costs	53	45	-15	34	22	9		
204		Other Expenses	205	239	17	245	251	250		
2  796		Total Ordinary Expenses	3  295	3  741	14	3  830	3  912	3  899		
589		Operating Result	259	-496	-292	-508	-511	-579		

Stadiums Authority	
Balance Sheet	
    Budget			Est.Outcome	   Planned		   Planned	   Planned	   Planned		
as at 30/6/05			as at 30/6/05	as at 30/6/06	   Var	as at 30/6/07	as at 30/6/08	as at 30/6/09		
   $'000			   $'000	    $'000	    %	    $'000	    $'000	    $'000		
		Current Assets								
1  001		Cash	1  538	1  413	-8	1  039	697	448		
397		Receivables	378	421	11	421	449	361		
40		Other	55	48	-13	48	48	49		
1  438		Total Current Assets	1  971	1  882	-5	1  508	1  194	858		
		Non Current Assets								
1  681		Property, Plant and Equipment	2  433	4  463	83	4  084	3  644	3  145		
1  681		Total Non Current Assets	2  433	4  463	83	4  084	3  644	3  145		
3  119		TOTAL ASSETS	4  404	6  345	44	5  592	4  838	4  003		
		Current Liabilities								
280		Payables	241	220	-9	209	210	209		
0		Finance Leases	136	146	7	157	169	0		
129		Employee Benefits	134	166	24	198	230	263		
262		Other	520	567	9	566	566	505		
671		Total Current Liabilities	1  031	1  099	7	1  130	1  175	977		
		Non Current Liabilities								
0		Finance Leases	470	325	-31	169	0	0		
44		Employee Benefits	44	48	9	51	55	59		
295		Other	435	310	-29	187	64	2		
339		Total Non Current Liabilities	949	683	-28	407	119	61		
1  010		TOTAL LIABILITIES	1  980	1  782	-10	1  537	1  294	1  038		
2  109		NET ASSETS	2  424	4  563	88	4  055	3  544	2  965		
		REPRESENTED BY FUNDS EMPLOYED								
429		Accumulated Funds	744	4  563	513	4  055	3  544	2  965		
1  680		Reserves	1  680	0	-100	0	0	0		
2  109		TOTAL FUNDS EMPLOYED	2  424	4  563	88	4  055	3  544	2  965		

Stadiums Authority	
Cash Flow Statement	
  2004‑05			  2004‑05	   2005‑06		  2006-07	  2007-08	  2008-09		
    Budget			Est.Outcome	   Budget	   Var	  Estimate	   Estimate	  Estimate		
    $'000			   $'000	   $'000	    %	   $'000	    $'000	   $'000		
		CASH FLOWS FROM OPERATING ACTIVITIES								
		Receipts								
3  763		User Charges	4  591	4  229	-8	4  321	4  430	4  410		
60		Interest Received	65	54	-17	54	54	54		
3  823		Operating Receipts	4  656	4  283	-8	4  375	4  484	4  464		
		Payments								
809		Related to Employees	838	929	11	952	976	976		
2  033		Related to Supplies and Services	2  569	2  686	5	2  733	2  802	2  797		
0		Borrowing Costs	68	45	-34	34	22	9		
283		Other	289	387	34	419	403	402		
3  125		Operating Payments	3  764	4  047	8	4  138	4  203	4  184		
698		NET CASH INFLOW/(OUTFLOW) FROM OPERATING ACTIVITIES	892	236	-74	237	281	280		
		CASH FLOWS FROM INVESTING ACTIVITIES								
		Payments								
209		Purchase of Property, Plant and Equipment	266	225	-15	465	466	360		
209		Investing Payments	266	225	-15	465	466	360		
-209		NET CASH INFLOW/(OUTFLOW) FROM INVESTING ACTIVITIES	-266	-225	15	-465	-466	-360		
		CASH FLOWS FROM FINANCING ACTIVITIES								
		Payments								
515		Repayment of Finance Lease	660	136	-79	146	157	169		
515		Financing Payments	660	136	-79	146	157	169		
-515		NET CASH INFLOW/(OUTFLOW) FROM FINANCING ACTIVITIES	-660	-136	79	-146	-157	-169		
-26		NET INCREASE/(DECREASE) IN CASH HELD	-34	-125	-268	-374	-342	-249		
1  027		CASH AT BEGINNING OF REPORTING PERIOD	1  572	1  538	-2	1  413	1  039	697		
1  001		CASH AT THE END OF THE REPORTING PERIOD	1  538	1  413	-8	1  039	697	448		

Stadiums Authority	
Statement of Changes in Equity	
    Budget			Est.Outcome	   Planned		   Planned	   Planned	   Planned		
as at 30/6/05			as at 30/6/05	as at 30/6/06	   Var	as at 30/6/07	as at 30/6/08	as at 30/6/09		
   $'000			   $'000	    $'000	    %	    $'000	    $'000	    $'000		
1  520		Opening Balance	2  165	2  424	12	4  563	4  055	3  544		
		Accumulated Funds								
0		Net Effect of Change in Accounting Policy	0	4  315	#	0	0	0		
589		Operating Result for the Period	259	-496	-292	-508	-511	-579		
		Reserves								
0		Increase/(Decrease) in asset revaluation reserve	0	-1  680	-	0	0	0		
589		Total Income And Expense For The Period	259	2  139	726	-508	-511	-579		
		Transactions Involving Equity Holders Affecting Accumulated Funds								
2  109		Closing Balance	2  424	4  563	88	4  055	3  544	2  965		
Notes to the Budget Statements
Significant variations are as follows:
Operating Statement
•	user charges – non ACT Government:  the increase of $0.281m in the 2005‑06 Budget from the 2004‑05 estimated outcome is due to a combination of higher levels of commissions from an increase in the number of events forecast and the effects of consumer price increases on certain agreements;
•	user charges – ACT Government:  the decrease of $0.594m in the 2005‑06 Budget from the 2004‑05 estimated outcome is related to the removal of Government subsidy from the Authority’s budget; 
•	other revenue:  the increase of $0.195m in the 2004‑05 estimated outcome from the original budget is related to increased video screen business revenue; and
•	supplies and services:  the increase of $0.307m in the 2004‑05 estimated outcome from the original budget is related to a combination of increased transport, accommodation and freight costs for the video screen business and purchases of IT and audio equipment.
•	
depreciation and amortisation:  
•	the increase of $0.102m in the 2004‑05 estimated outcome from the original budget is related to the capitalisation of an additional video screen and associated equipment; 
•	the increase of $0.280m in the 2005‑06 Budget from the 2004‑05 estimated outcome for 2004‑05 is related to the transition to the new Australian equivalent International Financial Reporting Standards, whereby a number of the Authority’s assets are brought back onto the accounts and depreciated; and
•	borrowing costs:  the increase of $0.041m in the 2004‑05 estimated outcome from the original budget is related to the interest on a finance lease for a new video screen.
Balance Sheet
•	cash:  the increase of $0.537m in the 2004‑05 estimated outcome from the original budget is due to the better than expected financial year starting position related to the Super 12 finals in 2004;
•	property, plant and equipment:  
•	the increase of $0.752m in the 2004‑05 estimated outcome from the original budget is related to the capitalisation of an additional video screen; 
•	the increase of $2.030m in the 2005‑06 Budget from the 2004‑05 estimated outcome is related to the transition to the new Australian equivalent International Financial Reporting Standards, whereby a number of the Authority’s assets were brought back onto the accounts and depreciated;
•	finance lease – current liabilities:  the increase of $0.136m in the 2004‑05 estimated outcome from the original budget is related to entering a new lease for the additional video screen; 
•	other current liabilities:  the increase of $0.258m in the 2004‑05 estimated outcome from the original budget relates to the commitments for additional revenues received in advance, including sponsorships and corporate hospitality; 
•	finance lease – non current liabilities:  the increase of $0.470m in the 2004‑05 estimated outcome from the original budget is related to the long term commitments towards servicing the finance lease on the new video screen; and
•	other non current liabilities:  the increase of $0.140m in the 2004‑05 estimated outcome from the original budget and the decrease of $0.125m in the 2005‑06 Budget from the 2004‑05 estimated outcome are due to 2005‑06 commitments for which revenue has been received in 2004‑05.