TA_AnnualReport_2004

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Annual Report2004/ 2005



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26 September 2005

The Hon Fran Bailey MP Minister for Small Business and TourismParliament HouseCANBERRA ACT 2600

Dear Minister,

I have pleasure in presenting the first annual report of Tourism Australia forthe reporting period of 1 July 2004 to 30 June 2005 in accordance with clause39 of the Tourism Australia Act 1994 and section 9 of the Commonwealth Authorities and Companies Act 1997 .

Yours sincerely,

The Hon Tim Fischer ACChairmanTourism Australia

P.S. It has been a dynamic first year for Tourism

Australia, laying a solid foundation

towards furt her

boosting tourism spread and spend. T he weig hts are

on

to ensure t his now happens.



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Contact officerFor more information about this annual report, please contact:General Manager, Corporate AffairsTourism AustraliaGPO Box 2721Sydney NSW 1006

InternetYou can access this report online at www.tourism.australia.com

Additional information sources2004-2005 Portfolio Budget Statements2004-2005 Portfolio Additional Estimates StatementsTourism Australia Annual Operating Plan 2004/05Tourism Australian Corporate Plan 2005/06 – 2007/08

Freedom of InformationTourism Australia is a prescribed authority under the Freedom of Information Act 1982.No FOI requests were received by Tourism Australia during the review period.The contact officer for FOI requests from Tourism Australia is:John HopwoodDirector, Corporate ServicesTourism Australia

© Commonwealth of Australia 2005

This work is copyright. Apart from any use as permitted under the Copyright Act 1968, no part may b e reproduced byany process without prior written permission from the Commonwealth. Requests and inquiries concerning reproductionand rights should be addressed to the Commonwealth Copyright Administration, Attorney General’s Department,Robert Garran Offices, National Circuit, Barton ACT 2600 or pos ted at http://www.ag.gov.au/cca



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RECORD OF BOARD MEMBERS AND ATTENDANCE

The Board met seven times during the year in Sydney, Alice Springs and Hobart and h ad an aggregateattendance of directors of 99 per cent.

Board members also represented TA at both industry and general forums.

MEMBERDATE OF APPOINTMENT/

REAPPOINTMENTEXPIRY OF

APPOINTMENT BOARD MEETINGS

ATTENDANCE

Hon Tim Fischer

Chairman

1 July 2004 30 June 2007 7

Mr Tony ClarkDeputy Chairman

1 July 2004 30 June 2005 7

Mr Scott MorrisonManaging Director

13 December 2004 At Board’s pleasure 3

Mr Ken BoundyActing Managing Director

1 July 2004 10 December 2004 4

Mr Andrew BurnesDirector

1 July 2004 30 June 2007 7

Mr Wayne Kirkpatrick

Director

1 July 2004 30 June 2005 7

Mr Gerry HarveyDirector

1 July 2004 30 June 2005 6

Ms Karen JacobsDirector

1 July 2004 30 June 2005 7

Ms Jane JeffreysDirector

1 July 2004 30 June 2005 7

Ms Valerie DaviesDirector

1 July 2004 30 June 2005 7

Mr Mark PatersonGovernment member

1 July 2004 30 June 2007 4

Ms Patricia KellyAlt Government member

1 July 2004 30 June 2007 3

Note: All Board members with a 30 June 2005 expiry date, with the exception of Mr Gerry Harvey, were re-appointed for a further term.



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The Hon Mr Tim Fischer AC, ChairmanAppointed to the Board in July 2004

Mr Tony Clark AM, Deputy ChairmanAppointed to the Board in July 2004

Mr Scott Morrison, Managing DirectorAppointed Managing Director in December 2004

Mr Gerry Harvey, DirectorAppointed to the Board in July 2004Appointment current to 30 June 2005

Ms Valerie Davies, DirectorAppointed to the Board in July 2004

Ms Jane Jeffreys, DirectorAppointed to the Board in July 2004

Mr Wayne Kirkpatrick, DirectorAppointed to the Board in July 2004

Mr Andrew Burnes, DirectorAppointed to the Board in July 2004

Ms Karen Jacobs, DirectorAppointed to the Board in July 2004

Mr Mark Paterson, Government MemberAppointed to the Board in July 2004

Ms Patricia Kelly, Alternate Government MemberAppointed to the Board in July 2004

Directors of Tourism Australia



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OVERVIEWThe Marketing department is responsible for the development and execution of Tourism Australia’smarketing program.

The 2004/05 fiscal year has seen th e execution of the ‘Australia. A Different Light’ campaign with brandcampaign strategy being evolved and executed in line with Tourism Australia’s Corporate Plan.

As part of the evolved brand strategy, support services were d eveloped to ensure the optimaleffectiveness of the campaign. A particular focus for Marketing has been the development of online and digital marketing platforms.

Marketing



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STATEMENT BY DIRECTORSIn our opinion, the attached financial statements for the year ended 30 June 2005 are based onproperly maintained financial records and give a true and fair view of the matters required by theFinance Minister’s Orders made under the Commonwealth Authorities and Companies Act 1997 .

We are also satisfied that Tourism Australia has in place appropriate fraud control mechanismsthat meet the needs of Tourism Australia and comply with Australian Government guidelinesfor this financial year, including annual report requirements.

In our opinion, at the date of this statement, there are reasonable grounds to believe thatTourism Australia will be able to pay its debts as and when they become due and p ayable.

Tim Fischer Scott Morrison Chairman Managing Director12 August 2005 12 August 2005

Tourism Australia



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STATEMENT OF FINANCIAL POSITIONAs at 30 June 2005

ASSETS Notes2005

$’000

Financial assets

Cash 6a 16,768

Receivables 6b 8,348

Other 6c 2,141

Inventories 6d 149

Total financial assets 27,406

Non-financial assets

Investments 6e 110

Plant and equipment 7a & b 1,606

Intangibles 7a & b 3,978

Total non-financial assets 5,694

Total assets 33,100

LIABILITIESProvisions

Employees 8a 4,569Total provisions 4,569

Payables

Suppliers 8b 13,388

Other payables 8c 1,059

Total payables 14,447

Total liabilities 19,016

Net assets 14,084

EQUITY

Parent entity interest

Contributed equity 9 827

Reserves 9 684

Accumulated surplus 9 12,573

Total equity 14,084

Current assets 27,406

Non-current assets 5,694

Current liabilities 17,751

Non-current liabilities 1,265

The above statement should be read in conjunction with the accompanying notes.



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SCHEDULE OF COMMITMENTSAs at 30 June 2005

Notes2005

$’000

BY TYPE

Other commitments

Operating leases 1 19,724

Other commitments 2 28,916

Total other commitments 48,640

Commitments receivable 3 (330)

Net commitments 48,310

BY MATURITYOperating lease commitments

One year or less 4,846

From one to five years 10,874

Over five years 4,004

Total operating lease commitments 19,724

Other CommitmentsOne year or less 17,873

From one to five years 11,043

Total other commitments 28,916

Commitments receivable 3 (330)

Net commitments 48,310

NB: Commitments are GST inclusive where relevant.

1 Operating leases comprise leases for office accommodation and computer leases.

2 Other commitments comprise amounts payable under project agreements in respect of which therecipient is yet to either perform the services required or meet eligibility conditions.

3 Commitments receivable comprises GST recoverable.

The above schedule should be read in conjunction with the accompanying notes.



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NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTSFor the year ended 30 June 2005

NOTE 4 OPERATING REVENUES (continued)

4f NET FOREIGN EXCHANGE GAINS2005

$’000

Non-speculative 958

Total 958

4g NET GAIN / (LOSS) FROM DISPOSAL OF ASSETS

Plant and equipment

Proceeds from disposal 45

Net book value of assets disposed (380)

Total net (loss) from disposal of assets (335)

4h OTHER REVENUE

Office sub-tenancies 846

Other revenue 282

Total other revenue 1,128

1 Industry contributions reflect the actual value of ind ustry support for Tourism Australia’s activities from cash revenue. In addition todirect revenues from the industry, joint marketing programs were undertaken. Through these programs the industry supplementsfunds provided by TA for product development, visiting journalist and tactical marketing programs. Due to the nature of the programs,these funds do not form p art of the reported level of industry contributions for Tourism Australia, but are in addition to it.



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NOTE 6 FINANCIAL ASSETS

6a CASH2005

$’000

Australian Dollars 14,794

New Zealand Dollars 167

Euro 57

Hong Kong Dollars 225Korean Won 29

Japanese Yen 46

Great Britain Pounds 1,086

United States Dollars 148

Singapore Dollars 100

Malaysian Ringgit 37

Thailand Baht 47

Chinese Yuan 27

Other 5

Total Cash 16,768

Balance of cash as at 30 June shown in the Statement of Cash Flows 16,768



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NOTE 6 FINANCIAL ASSETS (continued)

6c OTHER FINANCIAL ASSETS2005

$’000

Prepaid expenses 2,141

Total 2,141

6d INVENTORIESInventories 149

All inventories are current assets

6e OTHER INVESTMENTS

Shares in other company – unlisted (at cost) 400

Less: Provision for diminution in value (290)

Total Other Investments 110

Tourism Australia held an 11.9 per cent interest in Australian Tourism Data Warehouse Pty Limited(ATDW), which is carried at cost less provision for diminution in value. The provision is based on the

estimated statement of financial position of ATDW as at 30/6/2005. ATDW’s principal activity is thedevelopment of a database for Australian Tourism Products. The investment is a non-current investment.



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NOTE 7 NON-FINANCIAL ASSETS (continued)

7b ANALYSIS OF PLANT, EQUIPMENT AND I NTANGIBLES

Table A – Reconciliation of the opening and closing balances of property, plant and equipment and intangibles

Item

Total Plant& Equipment

$’000

Software

$’000

Trade Marks

$’000

Total

$’000As at 1 July 2004

Gross book value 7,425 7,086 108 14,619

Accumulated depreciation/amortisation (5,806) (4,863) – (10,669)

Net book value 1,619 2,223 108 3,950

Additions by purchase 954 2,562 – 3,516

Net revaluation increment/decrement 53 – – 53

Depreciation/amortisation expense (540) (892) (11) (1,443)

Disposals (368) (12) – (380)

Other movement (112) – – (112)

As at 30 June 2005

Gross book value 4,483 9,394 108 13,985

Accumulated depreciation/amortisation (2,877) (5,513) (11) (8,401)

Net book value at 30 June 2005 1,606 3,881 97 5,584

Table B – Assets at valuation

Item


$’000Software

$’000Trade Marks

$’000Total$’000

As at 30 June 2005Gross value 4,483 – – 4,483

Accumulated Depreciation/Amortisation (2,877) – – (2,877)

Net book value 1,606 – – 1,606

Table C – Assets under construction

Item


$’000Software

$’000Trade Marks

$’000Total$’000

Gross value at 30 June 2005 163 1,715 – 1,878



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NOTE 9 EQUITY

AccumulatedResults

Assetrevaluation

reserve

Other reserve(GeneralReserve)

TotalContributed

Equity

Total Equity

Item2005

$’0002005

$’0002005

$’0002005

$’0002005

$’000

Opening Balance 1 July 2004 8,256 353 278 278 9,165Net surplus/deficit 4,317 – – – 4,317

Net revaluation increment/(decrement)

– (163) 216 – 53

Transactions with owner:

Contributions by owner:

Appropriation (equity injections) – – – 549 549

Transfers to/(from) reserves – – – – –

Closing Balance 30 June 2005attributable to the AustralianGovernment

12,573 190 494 827 14,084

The net revaluation increase in the asset revaluation reserve comprises: 2005$’000

> Revaluation increment/(decrement) – furniture and fittings (115)

> Revaluation increment – leasehold improvements 169

53

The Asset Revaluation Reserve contains unrealised gains from the revaluation of assets. Onrealisation, these amounts are transferred to the General Reserve.



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NOTE 11 DIRECTORS’ REMUNERATION

The number of directors o f Tourism Australia included in these figures is shown below in therelevant remuneration bands:

2005Number

Nil 2

$30,000 – 39,999 6

$50,000 – 59,999 1

$60,000 – 69,999 1$170,000 – 179,999 1

$380,000 – 389,999 1

Total Number of Directors 12

2005$

Remuneration received or due and receivable by directors 821,465

Aggregate amount of superannuation payments in connection with the retirement of directors 45,391

Total remuneration received or due and receivable by directors 866,856

Remuneration includes accrued recreation leave, long service leave and separation payments where applicable.



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