APPENDIX F

DISCONTINUED AGENCIES

EXHIBITION PARK CORPORATION
Exhibition Park Corporation (EPC) is to be subsumed into the Department of Territory and Municipal Services (TAMS) from 1 July 2009.  TAMS manages a number of facilities which provide a focal point for a diversity of local and national sporting and community events.  The venue of Exhibition Park in Canberra (EPIC) will be managed alongside other major venues within TAMS to capitalise on the professional expertise available within both organisations.  It will also allow for greater coordination of events and improved long-term strategic management of all venues.

Estimated Employment Level
2008-09
Budget			2008-09
Est. Outcome	2009-10
Budget	
11		  Staffing  (FTE)	10	0	

Changes to Appropriation
						
Changes to Appropriation - Departmental						
	2008-09	2009-10	2010-11	2011-12	2012-13	
Government Payment for Outputs	Est. Out.	Budget	Estimate	Estimate	Estimate	
	$'000	$'000	$'000	$'000	$'000	
						
2008-09 Budget	541	350	358	367	367	
						
2009-10 Budget Policy Adjustment						
Transfer - EPC to TAMS	 - 	(350)	(358)	(367)	(377)	
CSO - World Youth Day	41	 - 	 - 	 - 	 - 	
						
2009-10 Budget Technical Adjustment						
Revised Indexation Parameters	 - 	 - 	 - 	 - 	10	
						
2009-10 Budget	582	 - 	 - 	 - 	 - 	

						
						
Changes to Appropriation - Departmental						
	2008-09	2009-10	2010-11	2011-12	2012-13	
Capital Injections	Est. Out.	Budget	Estimate	Estimate	Estimate	
	$'000	$'000	$'000	$'000	$'000	
						
2008-09 Budget	3,176	488	500	513	513	
						
3rd Appropriation						
Refurbishment of Terrace Restaurant - Stage 2	50	 - 	 - 	 - 		
Finalisation of Recycling/Rubbish Removal Station	40	 - 	 - 	 - 		
Upgrade of Various Facilities	70	 - 	 - 	 - 		
						
2009-10 Budget Policy Adjustment						
Transfer - EPC to TAMS	 - 	(488)	(500)	(513)	(526)	
						
2009-10 Budget Technical Adjustment						
Revised Indexation Parameters	 - 	 - 	 - 	 - 	13	
						
2009-10 Budget	3,336	 - 	 - 	 - 	 - 	

Exhibition Park Corporation
Operating Statement
  2008-09			  2008-09	   2009-10		  2010-11	    2011-12	  2012-13		
    Budget			Est.Outcom	   Budget	     Var	  Estimate	    Estimate	  Estimate		
    $'000			    $'000	   $'000	      %	    $'000	     $'000	   $'000		
		Income								
		Revenue								
541		Government Payment for Outputs	582	0	-100	0	0	0		
2,315		User Charges - Non ACT Government	2,373	0	-100	0	0	0		
211		Interest	245	0	-100	0	0	0		
3,067		Total Revenue	3,200	0	-100	0	0	0		
		Gains								
0		Total Gains	0	0	-	0	0	0		
3,067		Total Income	3,200	0	-100	0	0	0		
		Expenses								
1,006		Employee Expenses	1,006	0	-100	0	0	0		
151		Superannuation Expenses	138	0	-100	0	0	0		
1,861		Supplies and Services	2,039	0	-100	0	0	0		
514		Depreciation and Amortisation	502	0	-100	0	0	0		
4		Borrowing Costs	3	0	-100	0	0	0		
3,536		Total Ordinary Expenses	3,688	0	-100	0	0	0		
-469		Operating Result	-488	0	-100	0	0	0		

Exhibition Park Corporation
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								
2,890		Cash and Cash Equivalents	2,747	0	-100	0	0	0		
180		Receivables	406	0	-100	0	0	0		
17		Inventories	21	0	-100	0	0	0		
13		Other	43	0	-100	0	0	0		
3,100		Total Current Assets	3,217	0	-100	0	0	0		
		Non Current Assets								
23,980		Property, Plant and Equipment	24,106	0	-100	0	0	0		
3,750		Investment Property	3,750	0	-100	0	0	0		
587		Capital Works in Progress	587	0	-100	0	0	0		
28,317		Total Non Current Assets	28,443	0	-100	0	0	0		
31,417		TOTAL ASSETS	31,660	0	-100	0	0	0		
		Current Liabilities								
180		Payables	219	0	-100	0	0	0		
7		Finance Leases	25	0	-100	0	0	0		
198		Employee Benefits	270	0	-100	0	0	0		
93		Other	59	0	-100	0	0	0		
478		Total Current Liabilities	573	0	-100	0	0	0		
		Non Current Liabilities								
27		Finance Leases	5	0	-100	0	0	0		
13		Employee Benefits	8	0	-100	0	0	0		
12		Other	12	0	-100	0	0	0		
52		Total Non Current Liabilities	25	0	-100	0	0	0		
530		TOTAL LIABILITIES	598	0	-100	0	0	0		
30,887		NET ASSETS	31,062	0	-100	0	0	0		
		REPRESENTED BY FUNDS EMPLOYED								
21,792		Accumulated Funds	21,966	0	-100	0	0	0		
9,095		Reserves	9,096	0	-100	0	0	0		
30,887		TOTAL FUNDS EMPLOYED	31,062	0	-100	0	0	0		

Exhibition Park Corporation
Cash Flow Statement
  2008-09			  2008-09	   2009-10		  2010-11	    2011-12	  2012-13		
    Budget			Est.Outcom	   Budget	     Var	  Estimate	    Estimate	  Estimate		
    $'000			    $'000	   $'000	      %	    $'000	     $'000	   $'000		
		CASH FLOWS FROM OPERATING ACTIVITIES								
		Receipts								
200		Cash from Government for Outputs	241	0	-100	0	0	0		
341		Cash from Government - CSO Payments	341	0	-100	0	0	0		
2,315		User Charges	2,223	0	-100	0	0	0		
211		Interest Received	141	0	-100	0	0	0		
400		Other Revenue	750	0	-100	0	0	0		
3,467		Operating Receipts	3,696	0	-100	0	0	0		
		Payments								
1,001		Related to Employees	1,001	0	-100	0	0	0		
151		Related to Superannuation	138	0	-100	0	0	0		
1,861		Related to Supplies and Services	2,039	0	-100	0	0	0		
4		Borrowing Costs	3	0	-100	0	0	0		
400		Other	750	0	-100	0	0	0		
3,417		Operating Payments	3,931	0	-100	0	0	0		
50		NET CASH INFLOW/ (OUTFLOW) FROM OPERATING ACTIVITIES	-235	0	-100	0	0	0		
		CASH FLOWS FROM INVESTING ACTIVITIES								
		Payments								
3,426		Purchase of Property, Plant and Equipment and Capital Works	3,586	0	-100	0	0	0		
3,426		Investing Payments	3,586	0	-100	0	0	0		
-3,426		NET CASH INFLOW/ (OUTFLOW) FROM INVESTING ACTIVITIES	-3,586	0	-100	0	0	0		
		CASH FLOWS FROM FINANCING ACTIVITIES								
		Receipts								
3,176		Capital Injection from Government	3,336	0	-100	0	0	0		
180		Borrowings Received	180	0	-100	0	0	0		
3,356		Financing Receipts	3,516	0	-100	0	0	0		
		Payments								
180		Repayment of Borrowings	180	0	-100	0	0	0		
4		Repayment of Finance Lease	4	0	-100	0	0	0		
0		Payments of Transferred Cash Balances	0	2,747	-	0	0	0		
184		Financing Payments	184	2,747	1,393	0	0	0		
3,172		NET CASH INFLOW/ (OUTFLOW) FROM FINANCING ACTIVITIES	3,332	-2,747	-182	0	0	0		
-204		NET INCREASE/ (DECREASE) IN CASH HELD	-489	-2,747	462	0	0	0		
3,094		CASH AT BEGINNING OF REPORTING PERIOD	3,236	2,747	-15	0	0	0		
2,890		CASH AT THE END OF THE REPORTING PERIOD	2,747	0	-100	0	0	0		

Exhibition Park Corporation
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		
28,180		Opening Balance	28,214	31,062	10	0	0	0		
		Accumulated Funds								
-469		Operating Result for the Period	-488	0	-100	0	0	0		
		Reserves								
0		Increase/(Decrease) in asset revaluation reserve	0	-9,096	-	0	0	0		
-469		Total Income And Expense For The Period	-488	-9,096	1,764	0	0	0		
		Transactions Involving Equity Holders Affecting Accumulated Funds								
3,176		Capital Injections	3,336	0	-100	0	0	0		
0		Inc/Dec in Net Assets due to Admin Restructure	0	-21,966	-	0	0	0		
30,887		Closing Balance	31,062	0	-100	0	0	0		
Notes to the Budget Statements
EPC is to be subsumed into TAMS from 1 July 2009.  The variances between the 2009-10 Budget and 2008-09 estimated outcome reflect the transfer.
Significant variations between the 2008-09 estimated outcome and the original budget are as follows:
Operating Statement
•	government payment for outputs:  the increase of $0.041 million in the 2008-09 estimated outcome from the original budget is due to funding received for staging of World Youth Day.
•	interest:  the increase of $0.034 million in the 2008-09 estimated outcome from the original budget is a result of higher interest rates achieved on cash held in short fixed term investments.
•	supplies and services:  the increase of $0.178 million in the 2008-09 estimated outcome from the original budget is a result of higher water expenses, higher catering purchases and expenses associated with the re-leasing of the service station site.
Balance Sheet
•	receivables:  the increase of $0.226 million in the 2008-09 estimated outcome from the original budget is due to a fixed short-term investment maturing in 2009-10 and a revised repayment plan for a large debtor.
Cash Flow Statement
•	interest revenue:  the decrease of $0.070 million in the 2008-09 estimated outcome from the original budget is due to the fixed short-term investment maturing in 2009-10.
•	other revenue and other payments:  the increase of $0.350 million in the 2008-09 estimated outcome from the original budget results from additional input tax credits claimed and capital works expenditure.
•	capital injections from government:  the increase of $0.160 million in the 2008-09 estimated outcome from the original budget is a result of funding received through Third Appropriation.

RHODIUM ASSET SOLUTIONS
Objectives
Rhodium Asset Solutions Limited (Rhodium) provides fleet management and leasing services to the ACT Government, a number of Commonwealth Government agencies and various private sector organisations.
Reflecting Government decisions, Rhodium is to be wound down during 2009-10.  The Company has three objectives during this period:
•	to implement arrangements for the wind-down of Rhodium;
•	to provide ACT Government and ActewAGL Fleet management services until transferred to new providers; and
•	to provide fleet management services to other customers until transferred to new providers.
2009-10 Priorities 
Rhodium has six business strategies:
•	maintaining business continuity during the wind-down;
•	taking all available measures to minimise the forecast operating losses;
•	supporting the Territory and ActewAGL in the transfer of their fleets to other providers;
•	undertaking tendering activities for remaining leases and the trade debtor book to enable the early and orderly wind-down of Rhodium;
•	maintaining accurate financial and leasing records; and
•	complying with all key relevant legislation and standards.

Estimated Employment Level
2008-09
Budget			2008-09
Est. Outcome	2009-10
Budget	
0		  Staffing  (FTE)	28	0	
Note:
1.	The target date for completing the wind-down would result in no staff being employed as at 30 June 2010.

Rhodium Asset Solutions
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								
0		User Charges - Non ACT Government	14,224	2,396	-83	0	0	0		
0		User Charges - ACT Government	5,642	950	-83	0	0	0		
0		Interest	181	60	-67	0	0	0		
0		Other Revenue	840	492	-41	0	0	0		
0		Total Revenue	20,887	3,898	-81	0	0	0		
		Gains								
0		Total Gains	0	0	-	0	0	0		
0		Total Income	20,887	3,898	-81	0	0	0		
		Expenses								
0		Employee Expenses	1,891	781	-59	0	0	0		
0		Superannuation Expenses	217	142	-35	0	0	0		
0		Supplies and Services	3,946	2,172	-45	0	0	0		
0		Depreciation and Amortisation	4,424	564	-87	0	0	0		
0		Borrowing Costs	5,677	1,051	-81	0	0	0		
0		Cost of Goods Sold	4,920	860	-83	0	0	0		
0		Other Expenses	827	104	-87	0	0	0		
0		Total Ordinary Expenses	21,902	5,674	-74	0	0	0		
0		Operating Result	-1,015	-1,776	-75	0	0	0		

Rhodium Asset Solutions
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								
0		Cash and Cash Equivalents	2,664	0	-100	0	0	0		
0		Receivables	3,122	0	-100	0	0	0		
0		Other	14,143	0	-100	0	0	0		
0		Total Current Assets	19,929	0	-100	0	0	0		
		Non Current Assets								
0		Property, Plant and Equipment	9,835	0	-100	0	0	0		
0		Other	17,340	0	-100	0	0	0		
0		Total Non Current Assets	27,175	0	-100	0	0	0		
0		TOTAL ASSETS	47,104	0	-100	0	0	0		
		Current Liabilities								
0		Payables	1,697	0	-100	0	0	0		
0		Finance Leases	16,557	0	-100	0	0	0		
0		Employee Benefits	42	0	-100	0	0	0		
0		Total Current Liabilities	18,296	0	-100	0	0	0		
		Non Current Liabilities								
0		Finance Leases	25,090	0	-100	0	0	0		
0		Total Non Current Liabilities	25,090	0	-100	0	0	0		
0		TOTAL LIABILITIES	43,386	0	-100	0	0	0		
0		NET ASSETS	3,718	0	-100	0	0	0		
		REPRESENTED BY FUNDS EMPLOYED								
0		Accumulated Funds	3,718	0	-100	0	0	0		
0		TOTAL FUNDS EMPLOYED	3,718	0	-100	0	0	0		

Rhodium Asset Solutions
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								
0		User Charges	70,701	13,470	-81	0	0	0		
0		Interest Received	181	60	-67	0	0	0		
0		Other Revenue	9,471	0	-100	0	0	0		
0		Operating Receipts	80,353	13,530	-83	0	0	0		
		Payments								
0		Related to Employees	1,899	789	-58	0	0	0		
0		Related to Superannuation	217	142	-35	0	0	0		
0		Related to Supplies and Services	4,282	2,449	-43	0	0	0		
0		Borrowing Costs	5,694	1,051	-82	0	0	0		
0		Other	85,166	18,075	-79	0	0	0		
0		Operating Payments	97,258	22,506	-77	0	0	0		
0		NET CASH INFLOW/ (OUTFLOW) FROM OPERATING ACTIVITIES	-16,905	-8,976	47	0	0	0		
		CASH FLOWS FROM INVESTING ACTIVITIES								
		Receipts								
0		Proceeds from Sale of Property, Plant & Equipment	17,215	8,254	-52	0	0	0		
0		Investing Receipts	17,215	8,254	-52	0	0	0		
		Payments								
0		Purchase of Property, Plant and Equipment and Capital Works	315	0	-100	0	0	0		
0		Investing Payments	315	0	-100	0	0	0		
0		NET CASH INFLOW/ (OUTFLOW) FROM INVESTING ACTIVITIES	16,900	8,254	-51	0	0	0		
		CASH FLOWS FROM FINANCING ACTIVITIES								
		Payments								
0		Distributions to Government	0	1,942	#	0	0	0		
0		Financing Payments	0	1,942	#	0	0	0		
0		NET CASH INFLOW/ (OUTFLOW) FROM FINANCING ACTIVITIES	0	-1,942	#	0	0	0		
0		NET INCREASE/ (DECREASE) IN CASH HELD	-5	-2,664	#	0	0	0		
0		CASH AT BEGINNING OF REPORTING PERIOD	2,669	2,664	..	0	0	0		
0		CASH AT THE END OF THE REPORTING PERIOD	2,664	0	-100	0	0	0		

Rhodium Asset Solutions
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		
0		Opening Balance	4,758	3,718	-22	0	0	0		
		Accumulated Funds								
0		Net Effect of a Correction of an Error	-25	0	-100	0	0	0		
0		Operating Result for the Period	-1,015	-1,776	-75	0	0	0		
		Reserves								
0		Total Income And Expense For The Period	-1,040	-1,776	-71	0	0	0		
		Transactions Involving Equity Holders Affecting Accumulated Funds								
0		Capital Distributions	0	-1,942	#	0	0	0		
0		Closing Balance	3,718	0	-100	0	0	0		
Notes to the Budget Statements
The 2008-09 Budget was zero, as it was expected that Rhodium would be sold by 30 June 2008.
The decrease in the 2009-10 Budget from the estimated outcome reflects the decision to wind down the Company during the year.

TOTALCARE INDUSTRIES LIMITED
Objectives
Totalcare Industries Limited (Totalcare) previously provided a range of services to the Government and non-government sectors.  Although Totalcare is no longer active as a business, it still exists as a corporation n and will continue to do so while residual liabilities are being assessed and acquitted.
It is expected that the process of assessing, discharging and acquitting its residual liabilities will be completed by the end of 2009-10.
Once these issues have been investigated and resolved, the company will be wound-up.
2009-10 Priorities
Strategic and operational issues to be pursued in 2009-10 include: 
•	settling all outstanding superannuation liabilities; and 
•	wind-up the company in compliance with the Corporations Act 2001.

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

Totalcare
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								
13		Interest	18	13	-28	0	0	0		
525		Other Revenue	156	71	-54	0	0	0		
538		Total Revenue	174	84	-52	0	0	0		
		Gains								
0		Total Gains	0	0	-	0	0	0		
538		Total Income	174	84	-52	0	0	0		
		Expenses								
495		Supplies and Services	169	465	175	0	0	0		
495		Total Ordinary Expenses	169	465	175	0	0	0		
43		Operating Result	5	-381	-7,720	0	0	0		

Totalcare
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								
86		Cash and Cash Equivalents	381	0	-100	0	0	0		
87		Receivables	42	0	-100	0	0	0		
337		Other	42	0	-100	0	0	0		
510		Total Current Assets	465	0	-100	0	0	0		
		Non Current Assets								
4,249		Receivables	5,221	0	-100	0	0	0		
4,249		Total Non Current Assets	5,221	0	-100	0	0	0		
4,759		TOTAL ASSETS	5,686	0	-100	0	0	0		
		Current Liabilities								
129		Payables	80	0	-100	0	0	0		
129		Total Current Liabilities	80	0	-100	0	0	0		
		Non Current Liabilities								
4,249		Employee Benefits	5,221	0	-100	0	0	0		
4,249		Total Non Current Liabilities	5,221	0	-100	0	0	0		
4,378		TOTAL LIABILITIES	5,301	0	-100	0	0	0		
381		NET ASSETS	385	0	-100	0	0	0		
		REPRESENTED BY FUNDS EMPLOYED								
381		Accumulated Funds	385	0	-100	0	0	0		
381		TOTAL FUNDS EMPLOYED	385	0	-100	0	0	0		

Totalcare
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								
13		Interest Received	18	18	-	0	0	0		
7,766		Other Revenue	3,587	5,377	50	0	0	0		
7,779		Operating Receipts	3,605	5,395	50	0	0	0		
		Payments								
7,736		Related to Superannuation	3,069	5,221	70	0	0	0		
290		Related to Supplies and Services	169	555	228	0	0	0		
0		Other	400	0	-100	0	0	0		
8,026		Operating Payments	3,638	5,776	59	0	0	0		
-247		NET CASH INFLOW/ (OUTFLOW) FROM OPERATING ACTIVITIES	-33	-381	1,055	0	0	0		
-247		NET INCREASE/ (DECREASE) IN CASH HELD	-33	-381	1,055	0	0	0		
333		CASH AT BEGINNING OF REPORTING PERIOD	414	381	-8	0	0	0		
86		CASH AT THE END OF THE REPORTING PERIOD	381	0	-100	0	0	0		

Totalcare
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		
338		Opening Balance	477	385	-19	0	0	0		
		Accumulated Funds								
0		Post-Audit Adjustments	-97	0	100	0	0	0		
43		Operating Result for the Period	5	-381	#	0	0	0		
		Reserves								
43		Total Income And Expense For The Period	-92	-381	314	0	0	0		
		Transactions Involving Equity Holders Affecting Accumulated Funds								
0		Inc/Dec in Net Assets due to Admin Restructure	0	-4	..	0	0	0		
381		Closing Balance	385	0	-100	0	0	0		
Notes to the Budget Statements
As noted previously, it is expected that all outstanding superannuation liabilities will be settled during 2009-10 and the Company wound up by 30 June 2010.
Significant variations are as follows:
Balance Sheet
•	Other non current assets and non current liabilities:  the increase of $0.972 million in the non current assets and non current liabilities are due to changes in the anticipated settlement pattern of the outstanding superannuation liabilities.
Statement of Changes in Equity
•	Post Audit Adjustments: The variance of $ 0.097 million in 2008-09 estimated outcome from the original budget is due to the adjustments made as a result of 2007-08 audit completed in June 2008.