ACT GAMBLING AND RACING COMMISSION
Objectives
The ACT Gambling and Racing Commission is an independent statutory authority established under the Gambling and Racing Control Act 1999 to control, supervise and regulate gambling and racing activities in the Territory.
The responsibilities of the Commission incorporate the on-going development and implementation of an integrated regulatory framework for all gambling activity in the ACT including the Casino, machine gaming, lotteries, racing (as provided in the Racing Act 1999), race and sports bookmaking and interactive gambling.  
The Commission also monitors and researches the social effects of gambling and of problem gambling in the ACT.
In discharging its responsibilities, the Commission undertakes broad community consultation and performs its functions in a way that best promotes the public interest.  It must, as far as practicable, promote consumer protection, minimise the possibility of criminal or unethical activity, and reduce the risks and costs to the community and individuals concerned of problem gambling.
2005-06 Highlights
Strategic and operational issues to be pursued in 2005‑06 include:
•	implementing agreed recommendations of the reviews of the Casino Control Act 1988, Lotteries Act 1964, Pool Betting Act 1964, and Racing Act 1999;
•	enhancing the effectiveness of the Commission’s compliance program through an increased number of financial audits;
•	enhancing the Commission’s community engagement strategy by building on strategic links with its stakeholders; 
•	liaising with ACT racing industry participants to facilitate and enhance levels of cooperation between the controlling bodies responsible for the conduct of racing in the ACT and the off-course wagering activities of other industry based enterprises; and
•	assessing the findings and recommendations of a number of gambling research projects.

ACT Gambling and Racing Commission	
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								
54  470		Taxes Fees and Fines	51  759	53  261	3	53  787	59  282	61  697		
3  792		User Charges - ACT Government	3  846	3  899	1	4  001	4  069	4  137		
47		Interest	47	62	32	62	62	62		
366		Other Revenue	366	375	2	384	394	404		
25		Resources Received free of charge	25	25	-	25	25	25		
58  700		Total Revenue	56  043	57  622	3	58  259	63  832	66  325		
		Gains								
0		Total Gains	0	0	-	0	0	0		
58  700		Total Income	56  043	57  622	3	58  259	63  832	66  325		
		Expenses								
2  231		Employee Expenses	2  275	2  312	2	2  355	2  388	2  422		
380		Superannuation Expenses	386	392	2	404	410	415		
1  008		Supplies and Services	1  008	1  029	2	1  056	1  086	1  115		
37		Depreciation and Amortisation	37	20	-46	5	5	5		
54  836		Transfer Expenses	52  125	53  634	3	54  169	59  673	62  098		
58  492		Total Ordinary Expenses	55  831	57  387	3	57  989	63  562	66  055		
208		Operating Result	212	235	11	270	270	270		

ACT Gambling and Racing Commission	
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  421		Cash	1  435	1  749	22	2  063	2  377	2  691		
3  750		Receivables	4  228	4  233	..	4  238	4  243	4  248		
16		Other	19	19	-	19	19	19		
5  187		Total Current Assets	5  682	6  001	6	6  320	6  639	6  958		
		Non Current Assets								
34		Property, Plant and Equipment	26	16	-38	21	26	31		
34		Total Non Current Assets	26	16	-38	21	26	31		
5  221		TOTAL ASSETS	5  708	6  017	5	6  341	6  665	6  989		
		Current Liabilities								
45		Payables	4  160	4  160	-	4  160	4  160	4  160		
433		Employee Benefits	351	370	5	381	392	403		
3  631		Income Tax Payable	0	0	-	0	0	0		
112		Other	104	104	-	104	104	104		
4  221		Total Current Liabilities	4  615	4  634	..	4  645	4  656	4  667		
		Non Current Liabilities								
396		Employee Benefits	392	447	14	490	533	576		
396		Total Non Current Liabilities	392	447	14	490	533	576		
4  617		TOTAL LIABILITIES	5  007	5  081	1	5  135	5  189	5  243		
604		NET ASSETS	701	936	34	1  206	1  476	1  746		
		REPRESENTED BY FUNDS EMPLOYED								
604		Accumulated Funds	701	936	34	1  206	1  476	1  746		
604		TOTAL FUNDS EMPLOYED	701	936	34	1  206	1  476	1  746		

ACT Gambling and Racing Commission	
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								
54  836		Taxes, Fees and Fines	52  125	53  636	3	54  171	59  676	62  101		
3  792		User Charges	3  846	3  899	1	4  001	4  069	4  137		
47		Interest Received	47	62	32	62	62	62		
109		Other Revenue	109	114	5	117	120	123		
58  784		Operating Receipts	56  127	57  711	3	58  351	63  927	66  423		
		Payments								
2  543		Related to Employees	2  597	2  630	1	2  705	2  743	2  782		
987		Related to Supplies and Services	987	1  009	2	1  036	1  064	1  093		
109		Other	109	114	5	117	120	123		
54  836		Territory Receipts to Government	52  125	53  634	3	54  169	59  676	62  101		
58  475		Operating Payments	55  818	57  387	3	58  027	63  603	66  099		
309		NET CASH INFLOW/(OUTFLOW) FROM OPERATING ACTIVITIES	309	324	5	324	324	324		
		CASH FLOWS FROM INVESTING ACTIVITIES								
		Payments								
10		Purchase of Property, Plant and Equipment	10	10	-	10	10	10		
10		Investing Payments	10	10	-	10	10	10		
-10		NET CASH INFLOW/(OUTFLOW) FROM INVESTING ACTIVITIES	-10	-10	-	-10	-10	-10		
		CASH FLOWS FROM FINANCING ACTIVITIES								
		Payments								
2  200		Distributions to Government	2  200	0	-100	0	0	0		
2  200		Financing Payments	2  200	0	-100	0	0	0		
-2  200		NET CASH INFLOW/(OUTFLOW) FROM FINANCING ACTIVITIES	-2  200	0	100	0	0	0		
-1  901		NET INCREASE/(DECREASE) IN CASH HELD	-1  901	314	117	314	314	314		
3  322		CASH AT BEGINNING OF REPORTING PERIOD	3  336	1  435	-57	1  749	2  063	2  377		
1  421		CASH AT THE END OF THE REPORTING PERIOD	1  435	1  749	22	2  063	2  377	2  691		

Notes to the Budget Statements
Significant variations are as follows:
Operating Statement
•	taxes, fees and fines:  the decrease of $2.711m in the 2004-05 estimated outcome from the original budget is due to a decrease in gambling activity of $1.887m in the areas of electronic gaming machines and Victorian lotteries and a general reduction in anticipated growth of $0.824m; and
•	transfer expenses:  the decrease of $2.711m in the 2004-05 estimated outcome from the original budget is for the reasons noted above.
Balance Sheet
•	cash:  the increase of $0.314m in the 2005-06 Budget from the 2004-05 estimated outcome reflects the positive cash flow from the Commission’s operating activities;
•	receivables: the increase of $0.478m in the 2004-05 estimated outcome from the original budget is largely related to an increase in gambling taxation payable to the Commission;
•	payables:  the increase of $4.115m in the 2004-05 estimated outcome from the original budget is mainly due to the reclassification of liabilities previously categorised in income tax payable to payables to more accurately recognise the nature of the liability and an increase in transfer payments to the Central Financing Unit relating to the increase in gambling taxation receivable ($0.495m);
•	employee benefits (current):  the decrease of $0.082m in the 2004-05 estimated outcome from the original budget is mainly due to a lower than anticipated annual leave liability associated with changing staff profiles;  
•	employee benefits (non current):  the increase of $0.055m in employee benefits in the 2005-06 Budget from the 2004-05 estimated outcome is due to an increase in long service leave entitlements associated with the EBA wage increase; and
•	income tax payable:  the decrease of $3.631m in the 2004-05 estimated outcome from the original budget is mainly due to the reclassification of income tax payable to payables to more accurately recognise the nature of the liability.
Cash Flow Statement
•	distributions to Government:  the decrease of $2.2m in the 2005-06 Budget from the 2004-05 estimated outcome reflects the $2.2m distribution of surplus funds to Government that occurred in 2004-05.