Australian Capital Tourism Corporation 
Objectives
The Australian Capital Tourism Corporation (ACTC) will lead the ACT and Capital Region tourism industry to create and implement a range of marketing and development programs that will significantly increase the economic return from domestic and international tourism.
The ACTC’s key objectives are to increase the levels of awareness of the Capital Region as a tourist destination in domestic target markets and increase domestic visitation, international visitation, the length of stay by visitors and the economic benefits from tourism.
2005-06 Highlights
Strategic and operational issues to be pursued in 2005‑06 include: 
•	implementing the $1.5m partnership program between Tourism NSW, the Department of Industry, Tourism and Resources (AusIndustry), Tourism Snowy Mountains, Capital Country Tourism and ACTC for a regional tourism development called Project SCAN;
•	developing and implementing a tourism event attraction and development program;
•	implementing a product development program specifically targeting nature‑based tourism and the development of the national institutions products;
•	building on the Community Program specifically targeting embassies, defence personnel and federal parliamentarians;
•	conducting marketing campaigns in Singapore, Malaysia and New Zealand with a watching brief over South East China and India;
•	building on the brand positioning by creating a new advertisement and rolling out both the existing and extended brand advertisements with tactical marketing support in all target markets;
•	conducting a mini expo in Sydney during spring; 
•	continuing to progress the establishment of Commonwealth Park as the permanent site for Floriade;
•	working with the Canberra and district wine industry to build its reputation both within the ACT and selected areas of Sydney;
•	building the external visitor numbers for Floriade and the Subaru Rally of Canberra, and implementing the new Brindabella Mountains Challenge event as well as undertaking planning for a Winter 2006 event; and
•	building on the network of regional visitor centres and implementing a mobile visitor centre.

Australian Capital Tourism Corporation	
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								
1  600		User Charges - Non ACT Government	1  600	2  000	25	2  500	3  146	3  146		
18  407		User Charges - ACT Government	18  489	17  558	-5	17  225	16  940	17  318		
109		Interest	120	110	-8	111	112	112		
20  116		Total Revenue	20  209	19  668	-3	19  836	20  198	20  576		
		Gains								
0		Total Gains	0	0	-	0	0	0		
20  116		Total Income	20  209	19  668	-3	19  836	20  198	20  576		
		Expenses								
3  891		Employee Expenses	3  994	4  117	3	4  166	4  223	4  271		
672		Superannuation Expenses	685	700	2	710	718	722		
15  067		Supplies and Services	15  407	14  383	-7	14  447	14  705	15  031		
239		Depreciation and Amortisation	231	242	5	242	242	242		
32		Borrowing Costs	26	26	-	26	27	27		
200		Grants and Purchased Services	200	200	-	200	200	200		
20  101		Total Ordinary Expenses	20  543	19  668	-4	19  791	20  115	20  493		
15		Operating Result	-334	0	100	45	83	83		

Australian Capital Tourism Corporation	
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  105		Cash	1  336	1  613	21	1  803	2  031	2  256		
1  344		Receivables	366	261	-29	215	170	125		
1  000		Investments	1  000	1  000	-	1  000	1  000	1  000		
23		Inventories	52	52	-	52	52	52		
0		Capital Work in Progress	14	14	-	14	14	14		
916		Other	1  108	1  108	-	1  108	1  108	1  108		
4  388		Total Current Assets	3  876	4  048	4	4  192	4  375	4  555		
		Non Current Assets								
3  955		Property, Plant and Equipment	3  841	3  749	-2	3  657	3  565	3  473		
3  955		Total Non Current Assets	3  841	3  749	-2	3  657	3  565	3  473		
8  343		TOTAL ASSETS	7  717	7  797	1	7  849	7  940	8  028		
		Current Liabilities								
2  154		Payables	1  003	1  003	-	954	905	856		
39		Finance Leases	47	47	-	47	47	47		
631		Employee Benefits	525	557	6	577	598	618		
681		Other	276	276	-	276	276	276		
3  505		Total Current Liabilities	1  851	1  883	2	1  854	1  826	1  797		
		Non Current Liabilities								
237		Finance Leases	228	189	-17	150	111	72		
477		Employee Benefits	509	596	17	671	746	819		
714		Total Non Current Liabilities	737	785	7	821	857	891		
4  219		TOTAL LIABILITIES	2  588	2  668	3	2  675	2  683	2  688		
4  124		NET ASSETS	5  129	5  129	-	5  174	5  257	5  340		
		REPRESENTED BY FUNDS EMPLOYED								
2  804		Accumulated Funds	3  809	3  809	-	3  854	3  937	4  020		
1  320		Reserves	1  320	1  320	-	1  320	1  320	1  320		
4  124		TOTAL FUNDS EMPLOYED	5  129	5  129	-	5  174	5  257	5  340		

Australian Capital Tourism Corporation	
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								
20  007		User Charges	20  089	19  558	-3	19  725	20  042	20  420		
109		Interest Received	115	110	-4	111	112	112		
2  803		Other Revenue	1  300	1  256	-3	1  210	1  237	1  237		
22  919		Operating Receipts	21  504	20  924	-3	21  046	21  391	21  769		
		Payments								
4  333		Related to Employees	4  423	4  644	5	4  727	4  793	4  848		
14  981		Related to Supplies and Services	15  285	14  232	-7	14  404	14  618	14  944		
32		Borrowing Costs	26	26	-	26	26	26		
200		Grants and Purchased Services	200	200	-	200	200	200		
2  803		Other	1  400	1  356	-3	1  310	1  337	1  337		
22  349		Operating Payments	21  334	20  458	-4	20  667	20  974	21  355		
570		NET CASH INFLOW/(OUTFLOW) FROM OPERATING ACTIVITIES	170	466	174	379	417	414		
		CASH FLOWS FROM INVESTING ACTIVITIES								
		Payments								
150		Purchase of Property, Plant and Equipment	150	150	-	150	150	150		
150		Investing Payments	150	150	-	150	150	150		
-150		NET CASH INFLOW/(OUTFLOW) FROM INVESTING ACTIVITIES	-150	-150	-	-150	-150	-150		
		CASH FLOWS FROM FINANCING ACTIVITIES								
		Payments								
39		Repayment of Finance Lease	39	39	-	39	39	39		
39		Financing Payments	39	39	-	39	39	39		
-39		NET CASH INFLOW/(OUTFLOW) FROM FINANCING ACTIVITIES	-39	-39	-	-39	-39	-39		
381		NET INCREASE/(DECREASE) IN CASH HELD	-19	277	#	190	228	225		
724		CASH AT BEGINNING OF REPORTING PERIOD	2  355	2  336	-1	2  613	2  803	3  031		
1  105		CASH AT THE END OF THE REPORTING PERIOD	2  336	2  613	12	2  803	3  031	3  256		

Australian Capital Tourism Corporation	
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		
4  109		Opening Balance	5  463	5  129	-6	5  129	5  174	5  257		
		Accumulated Funds								
15		Operating Result for the Period	-334	0	100	45	83	83		
		Reserves								
15		Total Income And Expense For The Period	-334	0	100	45	83	83		
		Transactions Involving Equity Holders Affecting Accumulated Funds								
4  124		Closing Balance	5  129	5  129	-	5  174	5  257	5  340		
Notes to the Budget Statements
Significant variations are as follows:
Operating Statement
•	user charges - non ACT Government:  the increase of $0.4m in the 2005‑06 Budget from the 2004‑05 estimated outcome is due to financial partnerships with local industry resulting in cooperative marketing activities;
•	user charges - ACT Government: the decrease of $0.931m in the 2005‑06 Budget from the 2004‑05 estimated outcome is due to general savings ($0.594m), negotiation of the InTACT telecoms contract ($0.036m) and a gradual reduction in service purchase payments from government that is matched by an expected increase in non-ACT Government revenue, offset by a funding increase resulting from the Enterprise Bargaining Agreement (EBA);
•	employee expenses:  the increase of $0.123m in the 2005‑06 Budget from the 2004‑05 estimated outcome is mainly due to the effect of the EBA negotiated wage increase; and
•	supplies and services:  the increase of $0.340m in the 2004‑05 estimated outcome from the original budget reflects ACTC’s decision to invest additional resources into its ‘brand’ and supporting advertising campaign in 2004‑05.  The decrease of $1.024m in the 2005‑06 Budget from the 2004‑05 estimated outcome is mainly due to general savings outlined in the user charges line above.  
Balance Sheet
•	cash:  the increase of $0.277m in the 2005-06 Budget from the 2004-05 estimated outcome is mainly due to increased non-ACT Government user charges; 
•	receivables:  the decrease of $0.978m in the 2004-05 estimated outcome from the original budget is largely due to the estimated outcome and forward estimates being adjusted to recognise GST payable netted off against GST receivable;
•	payables:  the decrease of $1.151m in the 2004-05 estimated outcome from the original budget is largely an adjustment to the expected level of payables associated with the netting off of GST payable and receivables;
•	non current finance leases:  the decrease of $0.039m in the 2005-06 Budget from the 2004-05 estimated outcome is due to lease repayments associated with the fit out of ACTC’s office located at the Brindabella Business Park; and  
•	non current employee benefits:  the increase of $0.087m in the 2005-06 Budget from the 2004-05 estimated outcome is due mainly to the increase in provisions relating to the EBA.