sydney olympic park authorityannual report 2002/03 · as sopa continues to work closely with...

03S y d n e y O l y m p i c P a r k A u t h o r i t y A n n u a l R e p o r t 2 0 0 2 / 0 3

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3 01 IntroductionLetter to the MinisterChairman’s OverviewCEO’s Report

10 02 Sydney Olympic Park Authority BoardBoard Meetings Attendance RecordCorporate GovernanceOrganisational Structure

15 03 Building for the Future2003-08 Corporate PlanUnique Regional PositionFramework for a smart communityVision 2025Working closely with our neighbours

20 04 Sense of PlaceParklands 2020 Parklands Plan of ManagementParklands Events ProgramTour ProgramEducation ProgramParkland Tour DevelopmentResearch ProgramsA Diverse Place

26 05 Sustainable CommunitySustainability PolicySustainability StrategyWaste Reduction and Purchasing PlanSocial Sustainability

29 06 Developing the PlaceBuilding a TownCommercial ServicesAsset Management

34 07 Developing Our Business A Sports TownA Learning CommunityAn Intelligent Community

38 08 Managing the Place Place ManagementAn Events Town and Arts Community

40 09 Support Services Marketing and Corporate CommunicationsCorporate ServicesFinancial Services

46 10 Financial StatementsStatement of Cash FlowsNotes to the Financial StatementsSummary of Compliance with Financial Directives

68 11 Appendices

Terry MilhamSenior Field OfficerPlace Management

Contents

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Sydney Olympic Park Authority

is consolidating a vision thatwill position Sydney OlympicPark for the next 20 years ofits post-Olympic life. Ourhighly committed team ofprofessionals are motivated bythe knowledge that they arecreating a place thatwill meet a unique rangeof community aspirationsfor generations.

Letter to the Minister

The Hon Sandra Nori, MPParliament HouseMacquarie StreetSYDNEY NSW 2000

Dear Minister,

The Sydney Olympic Park Authority haspleasure in submitting to you its Annual Reportfor the period 1 July 2002 to 30 June 2003 forpresentation to Parliament.

The report is submitted in accordance withSection 9A (a) of the Annual Reports(Statutory Bodies) Act 1984.

Yours sincerely,

Brian NewmanChief Executive OfficerSydney Olympic Park Authority

David Richmond AOChairmanSydney Olympic Park Authority

LEFTAnn HinchcliffeManager, Strategic Projects & PlanningParklands Placemaking

RIGHTDavid FentonManager, Events and EntertainmentPlace Management

I am privileged to have been part ofthis process since 1995, when theOlympic Coordination Authoritybecame responsible for planning forthe 2000 Olympics. Through eachphase of Sydney Olympic Park’s ‘pre-Olympic’, ‘Olympic’ and ‘post-Olympic’ life cycle, our long-termgoal has always been the creation ofan environment that will serve thecommunity in perpetuity.

Today, Sydney Olympic Park enjoysthe Olympic legacy of world classevent facilities and exceptionalarchitecture and infrastructure. This640 hectare site in the geographicheart of metropolitan Sydneyembraces 425 hectares of one of thelargest ecologically significantparklands in the world, contains oneof the world’s largest urban waterrecycling systems, runs off threeinterdependent systems of powerand features one of the world’s

largest solar powered townships.The entire precinct is served by anetwork of high performanceoptical fibre cabling and is less than20 kilometres by road, rail or river toSydney and Parramatta CBDs andSydney Airport.

Our ‘next door neighbours’ –Parramatta, Auburn and Lidcombeand new developments at RhodesPeninsula and Homebush Bay West– have also reaped significantbenefits from the impact of theGames and continue to enjoy SydneyOlympic Park’s burgeoning range ofevents and facilities. For example,over 5.5 million visitors participatedin 1,759 leisure, cultural and businessevents at Sydney Olympic Parkduring 2002-03. And in October2003, we will welcome 700,000people to Telstra Stadium for the2003 Rugby World Cup – the world’slargest sporting event of the year.

The extraordinary diversity of peoplewho come to Sydney Olympic Parknow and in the future – to live,work, play and learn – gives theplace one of its finest dimensions.As SOPA continues to work closelywith on-site venues and partners inour marketing and management ofthe place, to maximise businessopportunities for both, we willensure that investment in SydneyOlympic Park continues to bringmaximum benefit to thecommunity.


During the last twelve months,the team at Sydney OlympicPark Authority has focused ondeveloping the concepts andstrategies that will guide ourcreation of a vibrant andsustainable town at SydneyOlympic Park.

We are consolidating a vision thatwill position Sydney Olympic Parkfor the next 20 years of its post-Olympic life. It is work that involvesthe design of forms, functions andvalues for the new town, therefinement of business objectivesfor our economic developmentstrategy, and the establishment ofcore values and beliefs that must beembodied by the organisation if weare to engage the attention,imagination and confidence of thebroader community.

Importantly, we have alsocommenced the developmentprocess. In May 2003 the HonSandra Nori MP, Minister for Tourismand Minister for Sport andRecreation, announced successfultenders for a $470 millioncommercial and residentialdevelopment at Sydney Olympic Park.

Our work this year would not havebeen possible without support fromMinister Nori and the totalcommitment and dedication of theSOPA Board, and of our highly-skilled team of executives and staff.

The SOPA team is genuinely excitedto have this once-in-a-lifetimeopportunity to create a communitythat will endure as a world classexample of intelligent placemaking.The planning and development ofSydney Olympic Park is a majorundertaking that needs totalcommitment from our team ofprofessionals – and the vision ofindividuals who are motivated bythe knowledge they are creating aplace that will meet a unique rangeof community aspirations forgenerations.

Chairman’s Overview

Sydney Olympic Parkenjoys the Olympic legacy of world class event facilities and exceptional

architecture and infrastructure

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The recognition of Sydney OlympicPark as a town – a significant andvibrant urban centre located 14kmwest of Sydney CBD and 8km east ofParramatta CBD – represents amajor step in our understanding ofhow this place will evolve and howit should be managed.

During the year we reviewed ourvision for the physical form,functions, beliefs and values thatwill characterise Sydney OlympicPark and our place leadership role.The review has entailed furtherrefinement of our functions ofplacemaking and placemanagement as we developSydney Olympic Park and manageits day-to-day operations.

An essential part of the place-making function of SOPA has beenthe definition of an economicdevelopment strategy for SydneyOlympic Park. The strategy isstructured around the promotion ofsix ‘themes’, namely: sport; health,leisure and wellbeing; education;environment and nature; scienceand technology; and culture, thearts and entertainment.

We believe Sydney Olympic Park hasa competitive advantage in each ofthese themes, especially in sport,where we are seeking to establish aunique sports industry model thatharnesses the potential of alldimensions of sport – includingsports education, sportsadministration, sports science,

sports retail, sports culture,recreation sports and many more.

We will proactively promote thesesix themes by building on thosecharacteristics that are unique toSydney Olympic Park, and offer aclear competitive advantage.

Together these highly integratedthemes will provide Sydney OlympicPark with a sustainable businessmodel. For example, with the NSWDepartment of Sport & Recreation,we are developing the concept forSports House, a State centre forsports administration that willattract a range of amateur andprofessional sports organisationsinto the precinct, to help consolidateSydney Olympic Park's position asAustralia's premier sports destination.

CEO’s Report

Ourmission is now clear76

The year in review was aseminal year for the SydneyOlympic Park Authority. We laidthe building blocks for ourfuture and achieved majorresults. Our mission is now clear– to develop and maintain, tointernational standards, aunique integrated town calledSydney Olympic Park.


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2002-03 also saw the developmentof Sydney Olympic Park's brandstrategy and the definition of keymarket segments for which we willbe developing new products andservices. We believe there areexciting opportunities for us toleverage Sydney Olympic Park’sinternational recognition and itscore value to ‘enrich’ the lives ofthose who touch the brand.

During the year, SOPA alsocontinued to play an important rolein providing operational support toour venues, that host an ever-expanding number of events withinSydney Olympic Park.

The Telstra Stadium demonstratedwhy it is one of the world’s greatstadiums by hosting its first one-day cricket match. Together with

rugby union, AFL, rugby league,open-air performances and motorevents, Telstra Stadium showed whyit is one of the most flexible andmost used facilities in the world.

In this seminal year of our work todevelop and refine our long-termvision for Sydney Olympic Park andto begin the exciting process ofrapid urban change, I would like torecognise the committed efforts ofour staff. It was a year in which weexperienced considerable internalchanges to allow us to align ourorganisational structure with ournew corporate strategies.

At year-end, Sydney Olympic Parkstood at the cusp of a majortransition in its role and place inSydney's urban hierarchy. Thistransition – from Olympic site to a

vibrant, economically sustainabletown – will take time. I amunreservedly confident that theyears ahead will see positivedevelopments in the realisation ofour vision for the precinct. Theoutlook is very exciting.


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One of our great challenges goingforward is to communicate a newmessage – that Sydney Olympic Parkis no longer a mono-experientialdestination for world class sportingevents, but rather, a place for living,working, learning and leisureactivities. By diversifying SydneyOlympic Park's experiential offeringwe expect to double visitation from5.5 to 10 million people by the endof the decade.

During 2002-03 we achieved majormilestones in the ‘living/working’components of this new positioningstrategy. In May, SOPA announcedsuccessful developers for the firsttranche of residential developmentat Sydney Olympic Park and the firststage of commercial development inthe Town Centre. These projects willsee 732 apartments and 50,000m2

of commercial space developed over

the next four to seven years – andthe establishment of retail shops,restaurants and cafes at the easternend of Olympic Station. Thisdevelopment will achieve thehighest levels of environmentalsustainability, consistent with theGovernment's commitment to‘green’ design that was establishedduring the 2000 Olympic Games.

The approval of a Plan ofManagement governing futuremanagement of Sydney OlympicPark's 425 hectares of uniqueparklands was another importantmilestone in 2002-03. The Plan ofManagement allows us toprogressively open new areas ofopen space to the public includingecologically sensitive wetlands, theBrickpits, four kilometres of harbourforeshore, 35 kilometres of cycle andpedestrian ways, play and picnicing

areas and a library of informationon the fascinating social and industrialhistory of this special place.

We continued to play an importantrole in the education sector duringthe year, with almost 80,000 schoolstudents making excursion trips toSydney Olympic Park. A newbusiness unit was also establishedand charged with growing SydneyOlympic Park's position in theeducation market across all sectorsof the industry. An EducationReference Panel will guide thedevelopment of our strategies inthis area as we recognise newopportunities to leverage SydneyOlympic Park's ready-made ‘campus’environment across a wide range ofprimary, secondary and tertiaryeducation and training programs.

...to develop and maintain,to international standards, a unique integrated town called Sydney Olympic Park

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Robert Leece AM RFD BE MEngScMBA FIE (Australia)

Mr Robert Leece was appointed tothe SOPA Board on 1 July 2001. Hewas Deputy Director General of theOlympic Coordination Authority.

Mr Leece had a non-executive roleon the Sydney OrganisingCommittee for the Olympic GamesSports Commission which managedall sporting, Olympic family andNational Olympic Committeematters for the 2000 Sydney Games.He was appointed to the Board ofthe Sydney Olympic BroadcastingOrganisation in 1999.

Concurrent with these Games roles,Mr Leece was also Chief Executive ofthe Olympic Roads and TransportAuthority – the organisationresponsible for all Sydney Gamestransport operations.

Prior to his involvement with theSydney Games, Mr Leece was adirector of a number of public andprivate companies in the developmentand construction industries.

Chris Christodoulou BA

Mr Chris Christodoulou was appointedto the SOPA Board on 1 July 2001.

Mr Christodoulou is DeputyAssistant Secretary of the LaborCouncil of NSW. His distinguishedcareer in the union movementbegan in 1981 and has involved rolesas Joint Assistant National Secretaryof the Australian Liquor, Hospitalityand Miscellaneous Workers Union,and coordinator of the NSW LaborCouncil’s Unions 2000 which liaisedwith the Sydney OrganisingCommittee for the Olympic Gamesover industrial relations issues.

Mr Christodoulou is activelyinvolved in a number oforganisations, including theWollongong Sports Ground Trust,the Correctional Services IndustryAdvisory Council and the NSWConstruct Roundtable.

Penelope Figgis AM BA (Hons)

Ms Penelope Figgis was appointedto the SOPA Board on 1 July 2001.

Ms Figgis is long-standing VicePresident of the AustralianConservation Foundation, Director ofthe Australian Bush Heritage Fund,Member of the World Commissionon Protected Areas and a BoardMember of the Jenolan CavesReserve Trust. As a senior memberand consultant for Australia’senvironment movement and theAustralian ConservationFoundation’s chief lobbyist in theearly 1980s, Ms Figgis’ written workon protected area policy and naturetourism have been published widely.

Ms Figgis was a Board Member forthe NSW Environmental ProtectionAuthority and she has served on theBoards of Uluru Kata Tjuta NationalPark, the Australian TouristCommission, Landcare Australia andthe Great Barrier Reef ConsultativeCommittee.

Terms of OfficeThe Sydney Olympic Park AuthorityBoard (SOPA Board) comprises sevenmembers. Six Board Members,including the Chairman, wereformally appointed by the NSWTreasurer and Minister for StateDevelopment, The Hon MichaelEgan MLC, in July 2001 for a three-year term to 30 June 2004. Underthe Sydney Olympic Park AuthorityAct 2001 No 57 (SOPA Act), BoardMembers may be re-appointed atthe end of their term.

Pecuniary InterestsBoard Members are required todisclose any direct or indirectpecuniary interest they have in anymatter being considered by theBoard. A register is kept outliningBoard Members’ disclosures.

Interaction with ManagementThe Chief Executive Officer,Executive Directors and Directorsregularly brief the Board on aspectsof SOPA’s activities and performanceand seek and receive guidance anddirection on policy and operationalmatters. Board Members receivefinancial updates from the ExecutiveDirector of Finance on all aspects ofrevenue, expenditure and debtors ateach Board meeting.

David RichmondAO MEc Chairman

Mr David Richmond was appointedChairman of the SOPA Board on 1July 2001. He is currently FoundationDirector and Professor, GraduateSchool of Government at theUniversity of Sydney.

As Director General of Sydney 2000,Mr Richmond was responsible foroverseeing all the operations of theSydney Olympic and ParalympicGames and coordinating NSWGovernment services provided tothe Sydney 2000 Games.

From July 1995 until April 2001,Mr Richmond was Director Generalof the Olympic CoordinationAuthority, responsible for thedevelopment of Sydney OlympicPark and building Games venuesand facilities.

Mr Richmond has held a range ofsenior positions in the NSW StateGovernment including ChiefExecutive Officer, NSW Departmentof Health and Chief Exective Officer,NSW Land Commission. He was alsoa Member of the Public ServiceBoard of NSW.

Mr Richmond is a member of theNew South Wales Major EventsBoard. He also provides advice to thePresident of the Athens Olympic GamesOrganising Committee and to theInternational Olympic Commmittee.

Gabrielle Kibble AO BA Dip TCPFRAPI DSc hc UNSW

Mrs Gabrielle Kibble was appointedto the SOPA Board on 1 July 2001.She has been a non-ExecutiveDirector of Sydney Water since1997 and Chairman since 1998.Mrs Kibble is Chairman of theRemuneration Committee and amember of the Public Health,Research and DevelopmentCommittee, Audit and RiskManagement Committee andStrategic Property PlanningCommittee. She is also Director ofSydney Water’s subsidiary company,Australian Water Technologies PtyLtd and has been Chairman of thiscompany since April 2001.

Mrs Kibble is a Director of theAustralian Commercial DisputesCentre Ltd and the Bankstown,Camden and Hoxton Park AirportsCorporation, the War Widows Guildof NSW and Questacon. She is aTrustee of the University of WesternSydney and a Fellow of the RoyalAustralian Planning Institute.

02 Sydney Olympic Park Authority Board

The BoardLeft to Right: Chris Christodoulou, GabrielleKibble, Robert Leece, Herb Elliott, PenelopeFiggis, David Richmond,Brian Newman.

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Board Meetings Attendance RecordJuly 2002- June 2003

Board Members Jul-02 Aug-02 Oct-02 Dec-02 Feb-03 Mar-03 Apr-03 May-03 Jun-03 MeetingsAttended

David Richmond yes yes yes yes yes yes yes yes yes 9/9

Chris Christodoulou yes yes yes yes yes yes yes no yes 8/9

Herb Elliott yes yes yes yes yes yes no yes yes 8/9

Penelope Figgis yes yes yes yes yes no yes yes yes 8/9

Gabrielle Kibble no yes yes yes yes yes yes yes yes 8/9

Robert Leece yes no yes yes yes yes yes yes yes 8/9

Brian Newman yes yes yes yes yes yes yes yes yes 9/9

From 1 July 2002 to 30 June 2003 the Board met on eight occasions.

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Corporate Governance

The SOPA Act constitutes theSydney Olympic Park Authority(SOPA) as a statutory bodyrepresenting the Crown. SOPA wasestablished on 1 July 2001 with acharter to manage and promote the640 hectare Sydney Olympic Parksite, including the protection of the425 hectare Parklands.

Under the SOPA Act, a governingBoard of Authority was createdwhose main function is to providedirection and guidance to SOPA,ensuring the principal functions andaims of the organisation are met.

There are a number of committeesto address the Board’s range ofresponsibilities, including the Auditand Compliance Committee,Parklands Advisory Committee,Planning and DevelopmentCommittee and the EducationReference Panel. For moreinformation on these committees,please refer to page 69 of theAppendices.

VisionThe vision of SOPA is for SydneyOlympic Park to become aninternationally recognised exampleof intelligent placemaking – adynamic and diverse town for living,working, learning and leisure – aplace for all people set within aworld class built and naturalenvironment.

MissionSOPA's mission is to develop andmaintain Sydney Olympic Park tointernational standards, as a uniqueintegrated town.

Mandate Under the SOPA Act, SOPA is definedas having the following corefunctions:

a) promote, coordinate and managethe orderly and economicdevelopment and use of SydneyOlympic Park including provisionand management of infrastructure

b) promote, coordinate, organise,manage, undertake, secure, provideand conduct the following range ofcultural, sporting, educational,commercial, tourist, recreational,entertainment and transportactivities and facilities

c) protect and enhance the naturaland cultural heritage of SydneyOlympic Park, particularly theMillenium Parklands

d) provide, operate and maintainpublic transport facilities withinSydney Olympic Park

e) liaise with and maintainarrangements with Olympicorganisations such as theInternational Organising Committeeand the Australian OlympicCommittee.

SOPA Act – Millenium ParklandsFunctionsUnder the SOPA Act, SOPA isresponsible for management anddevelopment of the MilleniumParklands. This role has thefollowing functions:

f) maintain the Millenium Parklands

g) permit the use of the whole orany part of the Millenium Parklandsfor recreational, historical, scientific,educational and cultural activities.h) exercise such other functions asare necessary in order to give effectto any relevant Plan of Managementreferred to in the SOPA Act.

An Agency of GovernmentAs a Statutory Authority of the New South Wales Government,SOPA is committed to serving thepublic to the highest standards.SOPA operates in accord withinitiatives of the presentGovernment to:> strengthen the State’s social

fabric and economic position

> deliver more and better servicesand facilities

> maintain the high status ofenvironmental protection

> create the nation’s largest urbanpark at Sydney Olympic Park.

Herb Elliott AC MBE MA

Mr Herb Elliott was appointed tothe Sydney Olympic Authority Boardon 1 July 2001. He is one ofAustralia’s best known Olympicathletics champions.

As Director of Athlete and CorporateRelations for the Australian OlympicCommittee, Mr Elliott has a broadrange of responsibilities. Hedeveloped strong relationships withthe Australian Olympic Committee’spartners who the 1998 and 2000Olympic teams.

Mr Elliott is currently a Director ofAnsell Limited, a Director ofFortescue Metals Group, Chairmanof Telstra Foundation Limited and aDirector of Athletics Australia.

Previous positions include Presidentof Puma North America, ChiefExecutive Officer of Puma Australia,Commissioner of the ABC Board andDirector of the Board for theAustralian Institute of Sport.

Brian Newman BE (Civil) MBA DipSecurities Institute of Australia

Mr Brian Newman was appointed tothe position of Chief ExecutiveOfficer, Sydney Olympic ParkAuthority on 29 January 2002 andjoined the Board on that date.

Mr Newman came to SOPA from asuccessful tenure as Chief ExecutiveOfficer of Emaar Properties inDubai, United Arab Emirates, wherehe managed some of the region’s

largest property developmentprojects. Prior to this role, MrNewman was Managing Director ofNusajaya Development Sdn Bhd inJohor, Malaysia, a mini-city projectdesigned to provide a secondgateway to Singapore.

Mr Newman has held a range ofsenior management positions in theAustralian property sector, includingroles as Chief Executive Officer ofCity West Development Corporationand acting Chief Executive Officer ofthe Honeysuckle DevelopmentCorporation. As State Manager forLend Lease Development during theearly 1990s, Mr Newman oversawdevelopment of the Australia Centreat Sydney Olympic Park.

02 Sydney Olympic Park Authority Board

Organisational Structure

BoardChief

ExecutiveOfficer

Property

Marketing & CorporateCommunications

Sustainability

Corporate Services

Finance

Business Development

Parklands

Place Management

• Property Development• Commercial Services• Strategic Development• Asset Management• Stadium Development• Construction & Infrastructure

• Planning• Urban Design• Building Applications• Environmental Policy & Compliance

• Organisational Development• Corporate Governance & Coordination• HR Management• Administrative Services• IT Services & Records Management• Board Support & Executive Services

• Financial Management• Financial Reporting & Budget• Treasury Liaison• Accounts Processing• Risk Management

• Corporate Planning• Sports Management• Educational Development• Science & Technology• Culture & the Arts

• Parklands Management• Parklands Research, Education,

Programs, Partnerships

• Events Operations Support• Site Presentation• Asset Functionality• Environmental Quality• Visitor Programs & Services• Education Programs• People-Movement, Safety & Security• Ranger Services• Public Entertainment• Ecosystems & Wildlife

• Marketing• Site Operations & Event Management• Leisure Tourism• Business Events• Corporate Communications

- Media Relations- Publications- Corporate Brand- Community Relations

• Visitor Services• Special Event Promotions

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This process has involved the development of:

2003-08 Corporate PlanA five-year plan defining SOPA’s key corporateobjectives and strategies

Vision 2025A 20-year plan for the physical forms and structuresof Sydney Olympic Park

Joint Statement of Cooperation with Parramatta CouncilA strategic partnership with Council that identifiesa range of opportunities that will benefit bothSydney Olympic Park and Parramatta

Parklands 2020A vision document that defines the nature of the Parklandsand its future development, supported by the operationalParklands Plan of Management

Sustainability Policy and Sustainability StrategyA statement of our commitment to delivering environmentallysustainable outcomes for Sydney Olympic Park.

03 Building for the Future

Our work at Sydney Olympic Park Authority during 2002-03 has been tocontinue the planning and implementation of strategies that will ensureSydney Olympic Park becomes a thriving and sustainable town. This work hasenabled us to begin to articulate long-term objectives for the town and to planall aspects of its form, functionality and economic development.

David YoungExecutive DirectorPlace Management

Unique Regional PositionSydney Olympic Park is located in the geographical heartof metropolitan Sydney, 14 kilometres west of Sydney CBDand 8 kilometres east of Parramatta.

Sydney Olympic Park enjoys a close relationship with theWestern Sydney region, which is profiled below:

> Australia’s third largest economy behind Melbourneand Sydney CBDs

> 72,000 businesses generating $54 billion annual economic output and growing to $80 billion by 2013

> 1 in 5 Australian jobs

> population 1.8 million growing top 2.4 million by 2018

> 12% employment growth at double the population growth

> 150 of Australia’s to 500 companies

> 1,500 IT companies, the highest concentration in Australia

> the largest healthcare precinct in the southern hemisphere

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Organisational implementationSuccessful implementation of theCorporate Plan requires anorganisational response from SOPAthat is both structural and culturaland that harnesses the skills of ourteam of professionals.

In this market orientated, customerconscious and development-drivenbusiness environment, theCorporate Plan also emphasises theneed for SOPA to manage rapidlychanging business agendas.

Creating a ‘smart community’The economic development ofSydney Olympic Park is framedaround SOPA’s concept for a‘smart community’ where sixinterdependent community themes– or ways of life – are promoted.

As the diagram on the followingpage shows, each economic driverwill promote a way-of-life and a setof values which, together, make upthe ‘smart community’.

These community themes are:

Sports townSports play a vital role in people’slifestyles in the most significantand integrated sports centre inthe world

Intelligent communityWorld class IT&T infrastructure isused to improve the quality of life ofthose living, working and learningat Sydney Olympic Park

Healthy communityA holistic approach to physical andenvironmental health

Green communityCommitted to environmentalsustainability

Learning communityLearning is woven into the fabric ofthe town’s intellectual, cultural andeconomic community life

Events town andCreative communityEvents play a significant role in thetown’s burgeoning economic andsocial life and creative individualsdetermine a point of difference forthe town.

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2003-08 Corporate PlanEssential to SOPA’s place leadershiprole at Sydney Olympic Park hasbeen the preparation of our2003-08 Corporate Plan.

The Corporate Plan incorporates theconcept of Sydney Olympic Park as amulti-dimensional ‘smartcommunity’ – a community thatshares a set of values and enjoys away-of-life unique to the place.

These values, or ‘community themes’,emanate from the six pillars ofSOPA’s economic developmentstrategy, namely: science &technology; health, recreation &wellbeing; environment; education;sport; and culture, arts, food &entertainment.

Together, these economic driversand their related communitythemes will influence the way-of-life and quality-of-life enjoyed bythe new ‘smart community’.

This new ‘smart’ approach to theway people live, work, play and learnwill enable us to build and maintaina competitive advantage for SydneyOlympic Park.

Business objectivesThe Corporate Plan incorporateseleven key business objectiveswhich will give a strong focus to ourwork as a placemaker at SydneyOlympic Park. These objectives are:

1. build Sydney Olympic Park asAustralia's premier sportsdestination and create a totallyintegrated sports industry model

2. become a centre for excellencein education and training, usingSydney Olympic Park’s ‘campus’environment to build a diversestudent and institutional base

3. promote science and technologyas economic activities and tosupport the quality of life at SydneyOlympic Park

4. position Sydney Olympic Park asa national centre for health,recreation and wellbeing – anenriching place for spiritual,emotional, occupational,intellectual, economic, social andphysical welfare

5. become a regional centre forculture, the arts, food andentertainment – an activated, livelyplace that offers a distinctive arrayof social and cultural opportunitiesthrough events and other activities

6. ensure that the principle ofenvironmental, social and economicsustainability drive SOPA's place-leadership activities andinternational recognition of SydneyOlympic Park as an outstandingexample of intelligent place making

7. be home to one of the world'sgreat urban parklands – bringingtogether nature, art and history

8. create a high quality living andworking environment that attractsand retains a critical mass ofoccupants who make use of highquality social and recreationalinfrastructure

9. expand the level of visitation toSydney Olympic Park throughproduct enhancement initiativesand effective marketing of leisuretourism, business events and venues

10. position Sydney Olympic Park asa recognised internationallyacknowledged and respected brandthat adds value to its product andservice offering

11. enhance Government return oninvestment by strengthening thecommercial, social and economicbenefits of Sydney Olympic Park andby progressively reducing netannual operating costs.

Supporting these businessobjectives are a range of strategiesthat will determine how we moveforward in building and maintaininga thriving new town, and thatuphold the Olympic legacy of highecological, design and managementstandards.

Five ways in which SOPA willmeasure success in achieving theseobjectives are:

> changes in the physical characterof Sydney Olympic Park todevelop a 'sense of place’

> levels of visitation, activationand enlivenment

> levels of economic generation

> market differentiation, as aplace for living, working, learningand leisure

> brand positioning.

Key performance indicators for eachBusiness Objective are alsoidentified in the Corporate Plan andincorporated into SOPA'sOperational Plan.

03 Building for the Future

LEFTDeborah HennesseyOperations AccountantFinancial Services

RIGHTWayne PriorDirector, Commercial Property ServicesProperty

framework for a smart community

the Sydney Olympic Park Authority’s 2003-08 Corporate Plan is framed by the concept of a ‘smart community’, a place wheresix independent community themes and their economic drivers

will create a vibrant town in which people canlive, work, play and learn.

SydneyOlympic Park

Events Town &Creative Community

Events are significant ineconomic and social life, and

creative individualsdetermine a point of

difference for thecommunity.

IntelligentCommunityWorld class IT&T

infrastructure and businesspartners complement the

creative community.

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Vision 2025 Central to SOPA’s work in creating anew town at Sydney Olympic Park isthe development of a comprehensiveurban design strategy we havenamed Vision 2025.

The purpose of Vision 2025 is toresolve ways of creating a vibrantand sustainable township at SydneyOlympic Park by the year 2025. Thislong-term strategy will guide designand development at Sydney OlympicPark and achieve high qualityenvironmental amenity for thepeople who will work in, live in andvisit the precinct in the decades ahead.

Vision 2025 builds on the 2002Sydney Olympic Park Masterplan(a planning framework for the TownCentre) and Parklands 2020(a planning framework for our 425hectare Parklands). The process hasbrought together an expert team ofurban and landscape designers,architects and specialists intransport planning, environmentaldesign, land economics, socialplanning, large scale masterplanning and implementation, aswell as arts and culture.

Led by the Sustainability Unit, SOPAbegan work on Vision 2025 in March2003. We anticipate that itsdevelopment will be completed inearly 2004 and that it will beimplemented through developmentof a new Master Plan for SydneyOlympic Park. This new Master Planwill ultimately need the approval ofthe NSW Minister for Infrastructure,Planning & Natural Resources, theHon Craig Knowles.

Working closely with ourneighbours

The year in review saw SOPA workclosely with its neighbours toensure our activities at SydneyOlympic Park are responsive to localcommunity needs and theirjurisdictions.

SOPA enjoys a close and productiverelationship with Auburn Council,the local government area in whichSydney Olympic Park is situated.

Discussions were initiated regardinghow Auburn Council can play animportant role in the provision ofcommunity services to SydneyOlympic Park’s ‘new community’ ofworkers, students and residents –services like childcare, library andcommunity centre support. The twoorganisations also worked togetheron cultural events such as theAustralia Day festivities.

In October 2002, SOPA andParramatta City Council endorsed aStatement of Cooperation thatdescribes how both organisationscan work together to create social,environmental and economicbenefits for both Sydney OlympicPark and Parramatta. Opportunitiesinclude tourism, marketing,

entertainment/arts, recreation,transport, education, environmentand regional leadership.

SOPA anticipates that this sharedcommitment will help bothorganisations achieve regionalplanning targets and enable us toexpand our focus from local issuesto include state, national andinternational opportunities. A JointAdvisory Group will hold annualreviews of new opportunities.

03 Building for the FutureSports TownThe most significant

and integrated sports centrein the world where sports

play a vital role inpeople’s lifestyles.

HealthyCommunity

A holistic approach tophysical & environmentalhealth and urban design.

LearningCommunity

Learning is woven intothe fabric of intellectual,

cultural and economiccommunity life..

GreenCommunity

Decisions are made accordingto long-term commitment

to environmental andeconomic sustainability.

Craig BagleyDirector, PlanningSustainability

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Parklands 2020Under the SOPA Act, SOPA isresponsible for protecting,maintaining and improving theParklands to promote itsrecreational, historical, scientific,educational and cultural value.SOPA's vision strategy for theParklands is Parklands 2020, whichdescribes how SOPA can:

> protect and enhance theParklands through researchprograms

> develop environmental,history and arts programs thatengage the community in anenriching way.

Informal programs at the Parklandsinclude picnicking, cycling andwalking. Formal programs havebeen designed to enhance vistors’understanding of the place –through education programs, toursand community/arts events.Education programs and tours tellof the Parklands’ indigenous,colonial and naval history, andcultural events focused aroundNewington Armory enable thecommunity to add their ownlayer of contemporary stories tothe place.

Parklands Plan ofManagementThe SOPA Act requires that SOPA’sobligations as place manager forthe Parklands be translated into aviable operational plan through theParklands Plan of Management. ThePlan of Management – approved inearly January 2003 by MinistersEgan and Debus – facilitates thedevelopments outlined in Parklands2020 and defines the scheme ofoperation for the Parklands.

Government approval of the Planof Management comes with$25 million in capital funds over thenext four years, and an additional$1 million recurrent funding toassist implementation.

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Sydney Olympic Park embraces 425 hectares of Parklands in the geographicalheart of Sydney. As a world class model of environmental and cultural renewal,this is a place where nature has been regenerated after a long period ofneglect. Pristine woodlands, wetlands and mangroves stand alongsidesignificant cultural sites – to offer the community a program of recreational,inspirational and educational experiences.

04 Sense of Place

Pristine woodlands,significant cultural sites

wetlands and mangroves stand alongsideSwapan PaulManager, Ecological Research ProjectsParklands Placemaking

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Tour ProgramThe popular interpretation toursprogram continued to developthroughout 2002-03 with over 300tours delivered to 6,500 participants.Whether spotlighting for animals atdusk or identifying bird species atdawn, trained interpretation guidesdeliver a program that enablespeople from all walks of life to learnfrom the rich natural and culturalheritage of Sydney Olympic Park.

Education ProgramDuring 2002-03, SOPA ran excursionprograms for 232 schools involving512 classes and 12,173 students. Thiswas an excellent result given thesignificant amount of capital workscarried out during the period. Mostfull-day programs focused on theenvironment, with increasingnumbers of programs using thebuilt environment at SydneyOlympic Park. Highlights includedthe opening of a shade shelter inBicentennial Park, a new bridge toConcord West, and a 50% increase inTeach the Teacher programs.

The Education unit continued itsposition as a key resource for seniorsecondary school students withStage 6 students making up 42%of all excursions.

Parkland Tour DevelopmentThe Parklands Tour program andSchool Holidays Tour program werereviewed during 2002-03, withseveral tours re-presented and newtours were developed for delivery in2003-04 to include:

> Indigenous Tour Program will beready for a trial delivery inNovember 2003 andpresentation in December 2003in preparation for the opening ofthe Newington Armory on18 January 2004

> Armory Heritage Tours 1897to 1996 is in a continualstate of development withextensive researchgathered during 2002-03for inclusion in theexpanded program

> Health and Wellbeing Programoffers a range of activities forpeople seeking to improve theirunderstanding of general healthmatters

> Ethnic Community Program isaimed at groups with traditionalcultural interests that are not yetfully expressed in the communityor that have limited availabilityin the region.

22

Parklands Events ProgramThe highly successful ParklandsEvents Program – themed aroundthe environment, history and thearts – has been shown to provideparticipants with a net satisfactionrate of over 80% (exceeding the70% benchmark set by SOPA’sEvents and Entertainment policy).Events featured in a full 2002-03program included:

Aboriginal History andConnections ProgramThe Aboriginal History andConnections Program wasprogressed to build SOPA’sknowledge of the significantAboriginal associations of the site,including:

> historical research – location ofpreviously unreported historicalevidence that shows continuedtraditional use of the SydneyOlympic Park area

> cultural heritage research –location of previouslyundocumented physical evidenceof Aboriginal usage of theWanngal Woodland

> Aboriginal consultation andparticipation – excursions to theParklands in February 2003fostered Aboriginal involvementwith the program

> general program promotion –media coverage of the Aboriginalsites survey in March 2003 waspresented in the Sydney MorningHerald, Koori Mail and local pressand presented in SOPA’s firstquarterly newsletter to promotethe program

> Aboriginal history and heritageadvice – provision of interimplace names drawn from theSydney Aboriginal language(s)for precincts within theParklands.

Opening of River Walk and LouiseSauvage Pathway On 6 March 2003, the Hon MichaelEgan joined Olympic Gold MedallistLouise Sauvage to officially openSydney Olympic Park’s River Walkand the Louise Sauvage Pathway.These pathways can be accessed bywheelchair, bicycle and foot and add6.3 kilometres of car-free paths tothe 32 kilometres of pathways at

Sydney Olympic Park. The newfacilities skirt the former RoyalAustralian Navy Armament Depot(RANAD) site (now NewingtonArmory) and the WanngalWoodlands and Wetlands to offer aunique historical and ecologicalexperience to visitors.

Western Sydney Environment Week,Newington Armory Open Day

The Parklands celebrated WesternSydney Environment Week with anopen day at Newington Armory on1 June 2003. Approximately 600people participated in heritage andnature tours, Aboriginal music anddance, a water-themed photographicexhibition, the exhibition ‘Birds ofSydney Olympic Park’ and displays oflive Green and Golden Bell Frogsand bats.

04 Sense of Place

formal programs havebeen designed to enhance visitors’ understanding of the place

LEFTLuke SaffingaSenior Park RangerPlace Management

RIGHTJudy HarringtonInterpretive Ranger / GuidePlace Management

A Diverse Place

The extraordinary diversity of people who come toSydney Olympic Park gives the place one of itsfinest dimensions. During 2002-03, these peopleand organisations included:

> Local Rotary Club

> Corporate Events

> Dance Parties

> Big Day Out

> Desperate and Dateless Ball

> Lunchtime Legends Sports Comp

> Lions Club

> Beijing Organising Committee forthe 2008 Beijing Olympic Games

> Candidate 2012 Olympic bid cities

> Macau Government Tourist Office

> Korean National OlympicCommittee

> Thailand Minister of Sportand Tourism

> Qatar Sports Academy

> Kenyan High Commission

> Canadian ProvincialParliamentarians

> Save the Children Australia

> Hurstville City Council

> Australian Olympic Committee

> USA Invitational School Volleyball

> International Judo Open

> Hillsong Convention

> National Dance Championships

> Vision Quest Conference

> NSW Gridiron Football League

> NSW Badminton Tournament

> Gay Games

> School Speech Nights

> Transmission Dance Party

> SES Turkish Concert

> Karate Workshop

> Lebanese Concert

> Kemp Ryu Karate Championships

> Australian Deaf Games

> Institute of CharteredAccountants

> Katoomba Christian Convention

> Special Interest Groups

> School Groups

> University and TAFE CollegeGroups

> Doctoral research students

> Academic Scientists andSpecialists

> Practicing Ecologists

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Research Programs

Wetlands Ecology ResearchDuring 2002-03, SOPA's WetlandEcology Research program spanned:hydrology; nutrient and eutrophicationissues; biodiversity; degradation,repair and regeneration of habitatsand communities; drought;and pest control.

Program objectives were tomaintain rigorous scientific values,increase the involvement ofstakeholders, conduct expertreviews, build industry consultationand create linkages with thebroader community. Where possible,scientific and technical publicationswere made on research outcomes.

As part of sharing information withspecial public interest groups, threehighly successful Wetland Educationand Training workshops were alsoconducted.

A Wetland Action Plan is beingdrafted to guide our work toprotect, repair, enhance andconserve the wetlands.

Biodiversity

As a result of redevelopment atSydney Olympic Park throughoutthe 1990s to conserve and enhancegenetic, species and ecosystembiodiversity, the place now containsa rich diversity of ecologicallysignificant fauna, flora and habitats.The site’s constructed and alteredhabitats and competing landmanagement objectives mean thatconservation of these biodiversityvalues requires ongoing and activemanagement.

During 2002-03, SOPA undertook awide range of managementactivities to conserve biodiversity atSydney Olympic Park, including:installation of 38 bat and birdbreeding boxes; planting 7,500grasses, 10,000 shrubs, 15,000 treesand a shrub layer on Kronos Hill;selective removal of mangroveseedlings in saltmarsh stands;mosquito control using a biologicallarvicide; induction training of 60landscape, construction and securitycontractors; continued bushregeneration works;

implementation of a fox controlprogram; a weed replacement trialfor the Brickpit; management ofwater levels in constructedfreshwater ponds to maintain aminimum ‘frog level’ during thesummer Green and Golden Bell Frogbreeding season; and irrigation ofdrought-threatened saltmarshspecies Wilsonia backhousei.

Monitoring and research programsconducted by SOPA staff, externalecologists and scientists,community volunteers and researchstudents during 2002-03 assistedSOPA to integrate the protection ofecological assets and values withmanagement operations andvisitation; apply and adaptmanagement strategies; andconduct education and otherinterpretive programs.

04 Sense of Place

LEFT TO RIGHTKerry DarcovichPark Ecosystems ManagerPlace Management

Michael ThompsonAdministrative Support OfficerCorporate Services

Graham ButchartNature Tourism CoordinatorParklands Placemaking

Bindu Cholayil& Elizabeth BragaAdministrative AssistantsPlace Management

Jenny O’MearaEcology Projects ManagerPlace Management

Lesley Kempshall Strategic Relations OfficerMarketing & Corporate Communications

The SoE will move towards a‘sustainability reporting’ format for2003-04 to ensure ongoing diversityin SOPA programs and initiatives,especially in relation to socialsustainability.

The development and adoption of aSustainability Policy andSustainability Strategy during2002-03 have been keyachievements in promotingsustainability as a key objective inthe 2003–08 Corporate Plan. Otherachievements in sustainabilityduring the year were to:

> establish an assessment processfor environmental impact anddesign of proposed commercialand residential developments

> receive Ministerial approval forthe Plan of Management forthe Parklands

> host the launch of WesternSydney Environment Week 2003at Newington Armory

> continue operationalmanagement and monitoringprograms on flora and fauna

> receive endorsement from theNSW Heritage Council for theConservation Management Planfor the Abattoir Heritage Precinct

> receive commendation for‘conservation of built heritage’ inthe 2003 Energy AustraliaNational Trust Heritage Awardsfor restoration of the NewingtonArmory (formerly the RoyalAustralian Navy ArmamentDepot, Newington)

> commence development of asustainable leachate strategy

> commence development of aSocial Plan for the town

> develop a Waste Reduction andPurchasing Plan (WRAPP)

> complete the scheduled chemicalwaste treatment program.

During 2002-03, SOPA alsoestablished strategic partnershipswith a diverse range of stakeholders– including research institutions,businesses, environmentalorganisations and governmentagencies – to build on existingenvironmental legacies and to setnew benchmarks at Sydney OlympicPark for social, environmental andeconomic sustainability.

Sustainability Policy

The Sustainability Policy reflectsSOPA’s commitment toenvironmental innovation and abest practice approach tosustainability by prioritising waterand energy conservation, materialselection, waste minimization,protection of the naturalenvironment, and engagementwith stakeholders.

Sustainability Strategy

The Sustainability Strategy is apractical interpretation of principlesestablished in the EnvironmentalGuidelines (September, 1993) thatstill apply to Sydney Olympic Park.The Strategy interprets the conceptof sustainability for Sydney OlympicPark through four core performanceareas, as described in the diagramopposite.

05 Sustainable Community

Throughout the year, Sydney Olympic Park Authority continued to demonstrate a strongcommitment to best practice management of environmental, social and economicsustainability. We developed a Sustainability Policy and Sustainability Strategy and produceda State of the Environment report (SoE) that describes programs, education opportunities,operational management functions and other activities that promote sustainabilityat Sydney Olympic Park.

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Sydney Olympic Park Authority’s commitment to best practice sustainabilityand excellence in urban design are key considerations for future development at

Sydney Olympic Park. The Sustainability Policy, Sustainability Strategy and Master Planprovide extensive guidance on requirements for all future development.

Two mandatory requirements ofthe Park Master Plan are:1. All developments at Sydney

Olympic Park must connect toSydney Olympic Park’s innovativeWater Reclamation andManagement Scheme (WRAMS),

2. All new developments mustachieve a minimum 4.5 energyefficiency rating from theSustainable Energy DevelopmentAuthority (SEDA).

In addition to maximisingopportunities for water and energyconservation, all futuredevelopments must prioritiseselection of sustainable materials,waste management andminimisation, and environmentalinnovation. Developments must alsodemonstrate high-levelenvironmental managementthroughout the design, constructionand operational phases.

SOPA’s rigorous assessment criteriafor evaluating potentialdevelopment proposals for SydneyOlympic Park are similar to thecriteria that was used to assessenvironmental features of venuesand infrastructure for the Sydney2000 Olympic Games andParalympic Games.

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Alan HillCADD Services MangerPlace Management

06 Developing the Place

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The role of Property is bestdescribed through its business units– Property Development,Commercial Services and AssetManagement (incorporating CapitalWorks) which manage and changethe physical landscape of SydneyOlympic Park with investors,developers, contractors and users.

The Property team has extensiveproperty development andconstruction industry knowledgeand is well versed in the corporatehistory of Sydney Olympic Park.These personal skills arecomplemented by the team’s highlevel of expertise in managingpublic land disposals (either asfreehold sales, leasehold and/orfinancially structured schemes),optimising the commercialoutcomes and achieving a very highstandard of design andenvironmental sustainability atminimal risk to SOPA.

The Property team’s key focus indelivering to Sydney Olympic Parkthe built form, mix of uses and

economic basis that will constitutea ‘unique integrated town’ at SydneyOlympic Park, is to ensure that thetown has the retailing, services andpublic facilities and infrastructurenecessary for the town to functionand thrive; that people have whatthey need to live, work, learn andplay at Sydney Olympic Park; thatpeople can easily travel to and fromthe place; and that Sydney OlympicPark, whilst establishing its ownidentity, is an integral part of theregional community.

As delivery of the first residentialand commercial developments atSydney Olympic Park are staged overfive to eight years, Property willestablish ongoing relationships withdevelopers to ensure the objectivesof both the developer and SOPA areachieved. Developers can takecomfort from knowing that SOPAunderstands their business and thattheir development will be anessential component of the overalltown strategy.

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Environmental ComplianceDuring 2002-03, there were nobreaches to environmentallegislation that resulted in harm tothe Sydney Olympic Parkenvironment.

Waste Reduction andPurchasing Plan (WRAPP)SOPA has developed a WasteReduction and Purchasing Plan(WRAPP) as required by the WasteAvoidance and Resource RecoveryAct 2001. The WRAPP – submitted toResource NSW in February 2003 –establishes operational strategiesthat will: minimise the generationof waste; require separation ofwastes generated by all activities forre-use and recycling; and ensure thepurchase of products with recycledand/or low waste content, whereverthese products are cost andperformance competitive.

The WRAPP recognises that thegreatest opportunities to minimisewaste and maximise recyclingopportunities at Sydney OlympicPark are in the areas of constructionand demolition activities,landscaping, event management,and administrative services.

Social SustainabilitySOPA is currently developing its firstSocial Plan for Sydney Olympic Parkto ensure the principles of socialequity and opportunity inform allfuture development for the town.

The Social Plan is unique because itdoes not respond to an existingpopulation. Instead, it will shape thefuture ‘character’ of Sydney OlympicPark by enabling SOPA toappropriately respond to theevolution of: residential andcommercial development; visitor,educational and businessdevelopment programs; andresidential, workforce and visitingpopulations. Key outcome areas thatare proposed for the Social Planinclude: social infrastructure; socialdiversity; community engagementand participation; amenity safetyand well being; and regionalleadership, social equity andaccessibility. The Social Plan will becompleted in late 2003.

Economic SustainabilityThe 2003-08 Corporate Plan reflectsSOPA’s understanding that thesustainability of Sydney OlympicPark rests with its unique andirreplaceable characteristics – andthat a viable long-term economicmodel and the proactiveimplementation of this model areessential to the creation of asustainable town at SydneyOlympic Park.

05 Sustainable Community

Creation of a sustainable town at Sydney Olympic Parkrequires the development of many elements, not the leastbeing a quality living and working environment.

LEFTNicole CampbellManager, Environmental PolicySustainability

RIGHTTerry MartinExecutive DirectorProperty

31

As well as delivering on this work,Property must create new sport andentertainment areas and maintainand present these facilities in a waythat is consistent with thebenchmark design standards andvalues for which Sydney OlympicPark is recognised internationally.

Sports HouseAn exciting developmentopportunity being pursued atSydney Olympic Park is SportsHouse, a new centre for sportsadministration, training, testing andeducation being procured under aconstruct, finance and lease-backarrangement. SOPA called forexpressions of interest fromfinancier/constructor consortiumsfor Sports House in January 2003and Government consideration ofdetailed proposals is expected bylate 2003. If approved byGovernment, construction of SportsHouse on the corner of OlympicBoulevard and Sarah Durack Avenuewould commence in early 2004.

The proposal for Sports House is tocreate a world class facility for bothelite and amateur athletes andbring together a wide range ofsporting organisations, associationsand affiliated bodies – including theNSW Institute of Sport (NSWIS),Department of Sport and Recreation(DSR) and a Sports Café.

NSWIS facilities (and affiliates) willinclude: a Strength & ConditioningGymnasium with an aerobic roomfor testing athletes under differentenvironmental conditions; aBiomechanical Laboratory and VideoAnalysis; Biochemical andPhysiology labs; athlete career andeducation facilities; a Psychologyarea and Coaches area; a specialistmedical centre; Australian SportsDrug Agency; travel agent; and HRconsultancy.

Commercial Services During 2002-03, the Property team– through its Commercial Servicesbusiness unit – continued tonegotiate and service a broad rangeof leases, licences and otheragreements with stakeholders,overseeing car-parking operationson the site, and providing commercialsupport to Event Operations,Marketing and Visitor Services.Significant achievements were:

> a September 2002 review into carparking operations andmanagement recommended anincrease in casual and pre-bookedparking rates and a newincentive-based contract for theprovision of managementservices. The contract with SecureParking Pty Ltd was signed inFebruary 2003

> 921,712 vehicles were parked onthe site during 2002-03 resultingin increased parking revenue at$5,207,093 due to more eventsand greater customerfamiliarisation

> $8.3 million was collected fromcommercial licence fees($324,095), estate levies ($4,044,505) and commercial rents($3,997,112)

> license agreements valued at$185,000 allowed the RoyalAgricultural Society to use ofsections of the OlympicBoulevard, Australia Avenue, TheOverflow, the Horse Exercise Trailand the Exhibitor Parking Area forthe Royal Easter Show

> new Operator’s Agreements wereexecuted with the Sydney Cricketand Sports Ground Trust for theSydney Olympic Park Aquatic andAthletic Centres, and with theState Sports Centre Trust for theSydney Olympic Park Sports Centre,Hockey Centre and Sports Halls

> the lease of the Golf DrivingRange was finalised and thevenue re-opened to attract over3,000 clients per week, withlessee plans for furtherdevelopment to increase clientcapacity

> an independent report on thelevel of electromagneticemissions from AM Radio towersat Sydney Olympic Park(commissioned by SOPA and theDepartment of Planning,Infrastructure and NaturalResources) concluded “there is nobasis for concern over directeffects of radio-frequencyradiation for prospectiveapartment occupants…”. Theavailability of AM transmissionsites throughout the SydneyRegion is to be reviewed by aninter-agency group

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Building a townThe first stage of developmentunder the 2002 Sydney OlympicMaster Plan was unveiled on 9 May2003, with The Hon Sandra Nori MP,Minister for Tourism and Ministerfor Sport and Recreation,announcing successful tenders forone residential and threecommercial developments onapproximately 2.5 hectares of landat Sydney Olympic Park.

This $470 million investment istestament to the private sector’sconfidence in the future of SydneyOlympic Park. The project will reapmajor long-term social,environmental and commercialbenefits for the people of NewSouth Wales and across the broadercommunity. The Stage Onedevelopment marks commencementof the transformation of SydneyOlympic Park into a new, thriving town.

This Stage One developmentinitiative means that SydneyOlympic Park will experience amajor phase of development during2003-08, leading to rapid urbanchange and transcendence of theOlympic life cycle. During this period116,000m2 of new development willbe either completed or underconstruction – representing$0.5 billion in new investmentand including:

> apartments x 736 – 66,000m2

> office buildings x 3 – 50,000m2

> restaurants, retail spaceand cafes.

Multiplex/Babcock & Brown arethe developers of Stage One’s three20 storey residential towers and asix-storey residential podiumbuilding (representing a total of 736dwellings and 1,350m2 of ground-floor retail and commercial space)on Site 3 at the northern end ofAustralia Avenue. The architect isNick Turner & Associates. Theconsortium intends to complete thedevelopment over three stages insix years.

Charter Hall Holdings Pty Ltd/AMPHenderson Global Investors are thedevelopers of Stage One’s threecommercial six-storey towers onSites 5, 6 & 7 which are positionedbetween Herb Elliott Avenue andDawn Fraser Avenue. The builder isWalter Construction Group and thearchitect is Richard Huxley &Associates.

These Stage One developmentsmeet and exceed the NSWGovernment’s sustainabledevelopment requirements, with allbuildings receiving a 4.5 star energyrating. Stage One will providehomes for 1,500 people,employment for 3,000 people and

provide restaurants, shops and townfacilities such as a library,community centre and childcarecentre. SOPA expects the firstresidents to move into theirapartments in late-2005.

The Stage One projects will putSydney Olympic Park on track tobecoming one of the most covetedplaces in Sydney to live,work, playand learn.

The sale and development of landfor Stage One will generate$70 million in benefits to the NSWGovernment. Whilst the 2002Master Plan identifies tendevelopment sites, in excess oftwenty sites are earmarked fordevelopment over the next ten years.

In addition to land disposals forprivate sector development,Property is also identifying andinitiating developments which canonly happen through mechanismssuch as: strategic public / privatesector alliances, innovativefinancing structures, securingpotential tenants for the privatesector developers and introducingend-purchasers for thosedevelopments when completed.Property has been very successful inthis regard and stands to generatesubstantial additional revenuesfrom those pursuits.


The Stage One development markscommencement of the transformation ofSydney Olympic Park into a new, thriving town

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in March 1999 for the Olympics,seated 110,000 people.

The installation of new movingstand technology on the east andwest lower seating tiers allows thestadium to host a wider range ofevents and will help to make thestadium more profitable. Theseevents – including both rectangularfield sports and oval field sports –include rugby league, soccer, rugbyunion, AFL, cricket, concerts,speedway and extreme games.

Major events held in Telstra Stadiumduring 2002-03 included theBledisloe Cup, the Australia v WalesRugby Union Test, various NationalRugby League games including theGrand Final, two double headers, aState of Origin and Bulldogs homegames, regular Sydney Swans AFLgames and the final of the WorldSpeedway Championships. The firstcricket game at Telstra Stadium, anING Cup match between NSW andSouth Australia, was played on 16February 2003.

Games MemoriesThe striking installation of GamesMemories – ‘poles’, videos,photographs, graphics and soundeffects – is a permanent recognitionof athletes, volunteers, audiencesand visitors to Sydney Olympic Parkof those "best ever" Sydney 2000Olympic Games and ParalympicGames.

Games Memories was opened bythe Premier on 15 September 2002,on the second anniversary of the2000 Olympic Games Opening.The main installation is on theStadium Forecourt. Two satelliteinstallations are located at theSydney Aquatic Centre and atthe Sydney SuperDome.

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> acquisition of land fromWaterways to complete theboundaries of Bicentennial Parkand provide additional parklandsfor research and public use

> finalisation of the lease withTennis NSW.

Asset ManagementSOPA’s Property team is alsoresponsible for the creation andmaintenance of the physical assetsthat make up the roads, carparks,utility services, infrastructure, publicareas, Parklands and the TownCentre of Sydney Olympic Park.

Achievements related to creation ofSydney Olympic Park’s assets in2002-03 include:

> incorporation of the State SportsCentre facility into SOPA’s majormaintenance contracts

> development of performance-based standards for the Parklandsand incorporation of thesestandards into a major landscapecontract

> finalisation of asset managementplans for all SOPA’s assets

> incorporation of regularperformance assessment intoSOPA’s Cleaning and Wastecontract

> major refurbishment of themoveable floor in the AquaticCentre’s training pool

> completing approximately $18million in works including routinemaintenance, breakdown/repair,replacement/renewal,horticultural and landscapeworks, operation and cleaning ofSOPA’s built and natural assets.

During 2002-03, the Property teamcompleted a $26 million capitalworks program – providinginfrastructure to support growth ofthe Town Centre and alterations tothe Telstra Stadium’s seating androof, a widely recognised achievementthat met budget targets.

Telstra Stadium development –an Olympic legacy Stadium Australia was renamedTelstra Stadium in July 2002. Twolarge Telstra Stadium signs wereinstalled on the east and westgrandstands in February 2003 toconfirm the stadium's new identity.The Telstra naming rightsagreement runs until the end of2009, with a number of options forfurther extensions.

Telstra Stadium is situated on SOPAland and is owned and operated bythe Stadium Australia Group(comprising Stadium Australia Trustand Stadium AustraliaManagement) under a long termagreement with SOPA. The stadiumwill revert to the Government whenthe agreement expires in 2031.

The post-Games reconfiguration ofTelstra Stadium continued through2002-03, although several monthswere lost in late 2002 due to adesign dispute that was ultimatelyresolved in January 2003. Work waswell advanced by 30 June 2003.

Design on the post-Games stadiumwas enhanced during 2002 toprovide an even better facility forthe people of Sydney. All elementsof this work, listed below, costapproximate $80 million and will becompleted for the 2003 RugbyWorld Cup:

> demolition of the temporarynorth and south end stands

> removal of the athleticsrunning track

> moving the lower seating bowlcloser to the field

> construction of north and southend facades and roofs

> new Level 3 north seating tier

> the AFL conversion works(larger field, moving east andwest lower seating tiers)

> associated landscaping works.

Close cooperation between SOPA,the Stadium Australia Group andthe builder Multiplex Constructions,has allowed post Olympicreconstruction to be carried outwhilst continuing to operate thestadium for events. Telstra Stadiumnow provides a more comfortable,intimate and exciting experience forspectators. The majority of seats arecloser to the action and protectedby the number of seats under coverhas been increased due to theconstruction of the new north andsouth roofs.

Final capacity seating is 83,500 –with approximately 83.5% of theseseats under cover in ‘AFL mode’ and78.5% under cover in ‘rugby mode’.The stadium's first stage, completed


LEFTWarwick ProctorDirector, Major Assets ManagementProperty

RIGHTCheryl WilsonAdministrative AssistantProperty

3534

Extreme SportsSOPA has established relationshipswith inline skating bodies forweekend participative events atSydney Olympic Park, and isinvestigating the establishment of aCentre for Urban Sports. Theseinitiatives will see the introductionof street sports and extreme sportsto Sydney Olympic Park.

Olympians DinnerThis year’s annual Olympian Dinneron 14 September 2002 was hostedat Sydney Olympic Park by the NSWOlympians Club. Over 200 formerOlympians were honoured for theirrole in Olympic history with aspecial lighting of the Cauldron.

NetballSOPA has entered into a three-yearpartnership with Netball NSW andthe Sydney Swifts whereby SydneyOlympic Park will be the home fortraining and competition matchesfor the Sydney Swifts.

The partnership also provides for aseries of other netball activities tobe conducted at Sydney OlympicPark, including the establishment ofan under 16s tournament, the

conduct of coaching clinics and apre-season elite tournament.

SOPA was instrumental in enablingthe Sydney Swifts to play at theSuperDome – for a minimum of twogames per season. This initiative hasbeen very successful with theinaugural game attracting 9,500people (more than double the usualhome crowd). The final against theMelbourne Phoenix attracted 10,500people – the second largest netballcrowd in history.

HockeySydney Olympic Park hosted the2003 Men’s Four NationsTournament and SOPA played a keyrole in enabling Hockey Australiato secure the rights to host the2003 BDO Women’s ChampionsTrophy to be held in November atSydney Olympic Park.

07 Developing Our Business

The team’s extensive commercialexperience allows SOPA toformulate, assess and developpotential opportunities for SydneyOlympic Park, in collaboration withthe specialist skills of otherfunctional areas.

The Business Developmentfunctional area became operationalin November 2002, giving the newteam eight months to achieveexceptional results for 2002-03.From a working brief across each ofthe Corporate Plan’s six economicthemes, the new team’s focus hasbeen to develop SOPA's businessobjectives in Sport and Education.

A Sports Town

To position Sydney Olympic Park asAustralia’s premier sportsdestination, Business Developmentwill optimise use of existingfacilities and develop strategicpartnerships with organisationsthat can deliver new events andoffer an enhanced range of sportexperiences at Sydney Olympic Park.

Initiatives during 2002-03 to raisethe profile of sport at SydneyOlympic Park across three levels –elite sports (international, national,state), developmental sports (youth,junior representative) andcommunity sports (general publicrecreational, mass participationactivities) – are the first steps increating an integrated sportsindustry model that is unique in theworld for sport and sports precincts.

BasketballThe Australian Basketball Federation(One Basketball) relocated itsadministrative headquarters toSydney Olympic Park in February2003. The Federation is now aresident of the Heritage Building inthe heart of Sydney Olympic Park’surban core, and is working withSOPA to build the presence ofbasketball at Sydney Olympic Parkby attracting international, nationaland domestic competitions.For the example, SOPA securedrights for the Sydney Flames to playall 2003 home games at SydneyOlympic Park.

AFLSOPA secured the rights forCollingwood Football Club to useSydney Olympic Park as their basefor a five-day camp in February thatincluded training, corporatefunctions and seminars.

National Rugby LeagueSOPA has established SydneyOlympic Park as the home forNational Rugby League referee trainingand conditioning, pursuant to athree-year agreement with the NRL.

Athletics SOPA has secured rights to host the2004 and 2005 National AthleticsChampionships and the National AllSchools Athletics Championships atSydney Olympic Park.

Fun Run EventsSydney Olympic Park will host theNike Women's Classic, pursuant to athree-year agreement and the finishof the Sydney Marathon.

SwimmingSOPA has secured the right to hostthe 2003, 2004 and 2005 NationalSwimming Championships atSydney Olympic Park Aquatic Centre.

The attraction and development of new enterprises and majorevents to Sydney Olympic Park is the responsibility of the SydneyOlympic Park's Business Development team.

Mark StewartExecutive DirectorBusiness Development

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SOPA will later expand theseeducation programs into other areasof the Sydney Olympic Parkeconomic development strategy.

An Intelligent CommunityAs well as developing businessrelationships that enhance SydneyOlympic Park’s education andtraining infrastructure and thatestablish Sydney Olympic Park as apre-eminent destination for schoolexcursions, a key business objectiveof the 2003-08 Corporate Plan is topromote science and technology forthe enhancement of both competitiveadvantage and the quality of life ofthose people living, working, andlearning at Sydney Olympic Park.

As a leading example of the inter-dependence and inter-relatedness ofSOPA’s business strategies, theParklands functional area isdeveloping a world class interactiveeducation program that utilisesSydney Olympic Park’s ITinfrastructure and furthers theCorporate Plan’s business objectivesin Education, Science andTechnology, Environment, Health,Leisure and Wellbeing, and Culture,Food, Arts and Entertainment.

Interactive Educationin the ParklandsThe heart of the Parklands programis located at Newington Armory,making this one of Sydney's pre-eminent educational, recreationaland cultural destinations. While theParklands education programalready attracts 14,000 students toBicentennial Park each year, weanticipate hosting 100,000 studentsa year in three years time.

During the last twelve months,Parklands management has workedin close partnership with the NSWDepartment of Education (DET),Metropolitan Catholic EducationOffice (MCEO), Sun Micro Systemsand University of Wollongong todevelop a unique interactiveeducation program that will belaunched at the Parklands inJanuary 2004.

The Interactive Program will allowschool groups to explore thecurriculum-based content deployedin 10 Sunray database terminals inthe Parklands and to email theresults, along with the field notesthey make in the natural and builtenvironments, back to their schools.

This landmark educational programis unique in education circles, bothwithin Australia and overseas.

The Program implements NSWBoard of Studies curriculum acrossthree Key Learning Areas (HumanSociety and its Environment (HSIE),Technology and Applied Studies(TAAS) and Science, for Kindergartento Year 12. In time, these KLAs will beexpanded. The DET and MCEO willadvertise the Program across theSydney catchment area, and willprovide teacher support.

QuestaconSOPA is working with Questacon,the National Science and TechnologyCentre based in Canberra, to bringnew educational science andtechnology projects to SydneyOlympic Park. Questacon presenteda highly successful display at the2003 Royal Easter Show and in late2003 will be on site with twoexpanded exhibitions, Sports Questand NRMA RoadZone. Theseinteractive exhibitions for familiesand students will contribute torealising SOPA objectives in scienceand technology, sport andrecreation, education and health.

A Learning CommunitySOPA's plans for a new AustralianCollege Town – where SydneyOlympic Park becomes a centre forexcellence in education and training– are founded on our belief thatstudent life and learning processesare essential to the fabric of avibrant and diverse community.

In February 2003, SOPA created anEducation Reference Panel toprovide the Board with advice on arange of education and trainingmatters that will assist SOPA toimplement the College Town strategy.

SOPA's multi-sector approach toeducation and training will bedeveloped across primary, secondary,higher education, and vocationaleducation and training. Strong linkswill be forged with the broadercommunity through a base ofschool excursion and curriculum-based programs, as well as innational and internationaleducation and training markets.

Memorandum of Understandingwith TAFE NSWA Memorandum of Understandingbetween SOPA and TAFE NSW wassigned on 15 January 2003 to enablethe development of a range ofcooperative ventures focussed onworkplace training. These initiativeswill contribute to an effectiveeducation and training culture atSydney Olympic Park and ensure:

> the precinct’s national andinternational reputation forexcellence in service provision ismaintained

> opportunities are maximised tointegrate education and trainingobjectives with SOPA's sporting,recreational, environmental,cultural and commercial objectives.

Early initiatives taken under theMoU include customer relationstraining for all staff engaged bySOPA for the Royal Easter Show2003, consultation with all non-venue employers to identify trainingneeds, and development of an eco-tour program. The purpose of theeco-tours was to provideinformation on the environmentalheritage of Sydney Olympic Park,with particular emphasis on SOPA'saward-winning Water Reclamation& Management Scheme. More than300 people took an eco-tour duringthe Royal Easter Show 2003.

Education programsSydney Olympic Park provides asignificant number of educationprograms and skill acquisitionactivities for primary and secondarystudents. School sportscompetitions attracted 80,000students to Sydney Olympic Parkduring 2002-03. To expand thispotential, SOPA has collaboratedwith venues to develop a set ofsports education programs thatwill be provided to primary andsecondary schools. This developmentprocess began in May 2003, withsports education programs due tocommence in October 2003.

07 Developing Our Business

Hon Wing HoAssistant AccountantFinancial Services

Place Management will addresseight key result areas involving:enhancing site presentation;providing visitor programs andservices; protecting environmentalquality; managing public safety andpeople movement; preserving assetfunctionality; and delivering publicevents and entertainment.

Place Management will directlycontribute to the achievement ofSOPA’s corporate objectives, and alsosupport other areas of SOPA throughthe development of business andplacemaking initiatives.

In its place-management role, SOPAplaces particular emphasis onexisting and established elementsof Sydney Olympic Park, managing‘today’ to ensure visitors have aworld-class experience in both theParklands and the Town Centre.

An Events Town andArts CommunitySOPA is focused on becoming alively regional centre for arts,culture, food and entertainment.

Strategies for achieving thisobjective are to: develop andpromote the concept ‘SydneyOlympic Park food experience’; workwith developers to increase leisure,entertainment and retail facilities;regularly host major events anddevelop leisure and entertainmentevents to attract wide communityinterest; create exhibitions, toursand performances in the Parklandsto establish the Armory as anexciting destination.

Major 2002-03 events at SydneyOlympic Park included SydneyOlympic Park Alive!, SydneyDreaming, the WTO Ministers’Informal Meeting and Royal SydneyEaster Show.

Sydney Olympic Park Alive! On 15 September 2002 – the secondanniversary of the 2000 Olympics –SOPA staged the Sydney OlympicPark Alive! festival, a new annualevent for the Sydney communitythat commemorates those “bestever” Games and fully expresses thevitality of Sydney Olympic Park’sdiverse range of venues andopportunities.

The Cauldron was alight for the dayto honour the spirit of the Games.

SOPA asked each Sydney OlympicPark venue to participate in Alive! topromote the unique qualities of theprecinct and to provide visitors withhigh level experiences that wouldpositively influence repeat usage.

Alive! demonstrated the widespreadpublic benefit of Governmentinvestment in Sydney Olympic Parkand paid tribute to the 2000Olympics by: celebrating the finishof the 2002 Sydney Marathon; NSWSwimming Association Open ShortCourse Championships; the launchof Games Memories by the Premierattended by 2000 volunteers; andlaunch of two public artinstallations – 8 Women by ImantsTillers in the Overflow Park andOlympic Athlete at the SydneyAthletic Centre, a gift from AMP.Many Olympic legends attendedthese events and a strongpartnership was forged with theOlympian Club.

In addition to these OlympicAnniversary events, the precinctcame ‘alive’ with a wide range ofevents for young people, families,sports fans and Olympic volunteers.

Sydney Dreaming 2002 –celebrating Aboriginal cultureThe first ever Sydney Dreamingfestival was held at Lake Belvederein Bicentennial Park during 16 & 17November 2002 to provide theSydney community with insight intothe meaning of indigenousceremony.

Sydney Dreaming – directed byRhoda Roberts and produced by thePublic Events Group – built on thesuccesses of the 1997 Olympic ArtsFestival, Festival of the Dreamingand Awakening segment ofSydney 2000.

5,000 people attended SydneyDreaming events, includingGarrabadu, a traditional watercleansing ceremony, and weekendcultural workshops for adultsand children.

The Bicentennial Park settinghighlighted the cultural,environmental and historicalsignificance of Sydney Olympic Park,with free entry to Garrabadu toensure maximum media exposureand best possible public response inthe festival's first year.

World Trade Organisation –Informal Meeting of Ministers

The World Trade Organisation (WTO)held a Ministers' Informal Meetingat the Novotel at Sydney OlympicPark on 15 November 2002, followingits decision three weeks earlier tohold the WTO Meeting at DoubleBay, in Sydney’s eastern suburbs.

The decision to hold the Meeting atSydney Olympic Park was made onlythree weeks prior to the event, andsecurity was extremely high. Inanticipation of at least 8,000protesters, NSW Police imposed athree-day lock down of the precinct.On the day, less than 1,000protesters attended the Meetingand NSW Police made 35 arrests.

Prior to the lock-down, NSWPolice and SOPA fully briefedstakeholders and madealternative transport, parkingand delivery arrangements forvenues and businesses.

08 Managing the Place

3938

During the year, the Sydney Olympic Park Authority established the conceptfor a Place Management functional area to manage day-to-day operation,enlivenment, maintenance and conservation of Sydney Olympic Park’sUrban Core and Parklands.

John FergusonDirector, Events & Operational SupportPlace Management

4140

Visitor wayfinding A comprehensive signage auditresulted in SOPA working with theRoads and Traffic Authority tochange Sydney road signs to reflectthe new location of “Sydney OlympicPark”. Signs directing traffic toSydney Olympic Park no longer read“Homebush Bay”. Key wayfindingsigns within Sydney Olympic Parkhave also been upgraded.

WebsiteA review and restructure of theSydney Olympic Park website wascompleted to include a functionalityand content upgrade, redesigned lookand review of linkages.

Sponsorship strategyTo assist development of newsponsor partnerships that enableSOPA to share and promote theassets of Sydney Olympic Park withall stakeholders, SOPA contractedCarnegie Sports International toaudit Sydney Olympic Park'ssponsorship potential and todevelop a set of Guidelines thatSOPA will use to evaluate allsponsorship proposals.

The primary objective for SOPAentering into sponsorship alliancesis to help to deliver Sydney OlympicPark’s corporate objectives . Byviewing all new sponsorshipopportunities as partnerships inwhich both parties mutually benefitfrom a commercial agreement, SOPAanticipates building long-term,integrated alliances thatcompliment our brand values – andthrough which corporate sponsorsare able to dedicate substantialhuman, financial and marketingresources to Sydney Olympic Park.

Visitor Gateway Centre A review of Visitor Services atSydney Olympic Park in November2002 recommended an upgrade ofVisitor Information Centres. Themain Visitor Centre is being movedto a site next to Olympic Station.Work will be completed on the newVisitor Gateway Centre in September2003. It will provide visitors toSydney Olympic Park withinformation on the entire Sydneyregion and help them choosebetween venues, events andactivities at Sydney Olympic Park.

Major Event DevelopmentA strategy for Securing Events forSydney Olympic Park was developedin October 2002. Major venueshosted 130 major or significantevents at Sydney Olympic Parkduring 2002-03. Each eventattracted more than 5,000 people –totalling 2.4 million for the year.New events included: SydneyDreaming, a unique indigenousfestival staged in Bicentennial Parkin November 2002; the ARIA Awardsat the SuperDome in November2002; One Day Cricket at TelstraStadium in February 2003; and theDavis Cup at the Sydney InternationalTennis Centre.

Growing Business Tourismand EventsA comprehensive study into SydneyOlympic Park's business eventsmarket was undertaken inNovember 2002, resulting in thedevelopment of a Business EventStrategy and the establishment of aone-stop-shop for venue hireenquiries across Sydney OlympicPark’s eight major venues.

Cooperative marketing under theSydney Olympic Park brand hasdelivered a stronger identity. Theappointment of a BusinessDevelopment Manager, BusinessEvents – jointly funded by SOPA andthe Sydney Olympic Park BusinessAssociation – has streamlined theenquiry and sales process for bothclients and venues.

2002-03 delivered record businessevent bookings with an increase in37% over the previous financial yearin the number of business eventsheld, with some venues almostdoubling their business in the DayMeetings and Conference market.

SOPA is continuing to workstrategically with Government andindustry to build recognition as themajor business event and exhibitionprecinct outside Darling Harbourand the CBD.

Growing Leisure TourismTo increase tourist visitation toSydney Olympic Park, SOPA hasentered into a formal partnershipwith Tourism Sydney. The partnershipwill develop a range of cooperativemarketing campaigns that growinterstate and intrastate tourismmarkets. A concurrent review of theSydney Olympic Park touristexperience has resulted in theupgrade of several tours fordomestic and international visitors.

Marketing and CorporateCommunicationsThe brand positioning, productdevelopment and promotion ofSydney Olympic Park is determinedand driven by SOPA’s Marketing andCorporate Communicationsfunctional area.

The Marketing and CorporateCommunications team worked withall key Sydney Olympic Park venuesand stakeholders to develop andmanage the strategic direction andimplementation of SOPA’s marketingand corporate communications.

Major initiatives and achievementsduring 2002-03 included:

The Brand In July 2002, SOPA completed amajor consumer research study toinform development of SydneyOlympic Park's new brand strategy.The strategy maps our vision for theSydney Olympic Park brand andidentifies brand values and attributesthat will inform new productdevelopment, communications andpotential partnerships. The strategyidentifies major consumer touchpoints, including customer service,signage, naming and brochures.

SOPA worked with key stakeholdersto gain their support in promotingthe new Sydney Olympic Park brand.All collateral and communicationswere redesigned and work hascommenced on progressivelyenhancing signage and other visitorsupport communications.

As part of SOPA’s annual consumerresearch, the benchmark study inJune 2003 indicated:

> increased prompted awareness ofprecinct image, range of attractionsavailable and visitor information

> Sydney Olympic Park has not lostcommitment from visitors,despite competition from TheRocks and Fox Studios

> exhibitions and shows have thepower to attract visitors fromGreater Sydney

> patronage of the AquaticCentre is growing

> ‘green’ attractions at SydneyOlympic Park have greatestleverage within the localcommunity

> perceptions of Sydney OlympicPark have improved within theOuter Local Community andGreater Sydney.

Site-wide stakeholders SOPA worked with Sydney OlympicPark's major venues and keystakeholders to develop anoverarching communications andmarketing strategy that will growvisitation to Sydney Olympic Parkand increase the patronage of majorvenues. The strategy wasimplemented by four sub-committees – Business Events,Leisure Tourism, Events andCommunications – which conducteda range of cooperativecommunication and marketingactivities across Sydney OlympicPark's consumer markets: SydneyLeisure; Business Events; LeisureTourism; Investor and Developer;and Education.

09 Support Services

LEFTCatherine HamiltonExecutive Assistant to Geoff BuckleyMarketing & Corporate Communications

RIGHTGeoff BuckleyExecutive DirectorMarketing & Corporate Communications

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> collaboration with the RotaryClub of Ryde to sponsor 30 childrenwith disabilities from theHomebush/Flemington area toattend the Annual Children’s FilmFestival in May 2003

> conduct of corporate trainingprograms in the areas of childprotection, records and informationmanagement, goods and servicesprocurement, safety management,recruitment selection, and disabilityawareness

> development of a number ofhuman resource and related policiesand procedures including ExitProcedures, Work Experience,Uniform Policy, Assistance with thePurchase of Annual Public TransportTickets, and Financial Assistance forTertiary Study

> agreement with the PSA onseven-day cycle and rostered shiftarrangements during the EasterShow, to meet extraordinarydemands of the Show period andensure all SOPA staff wereappropriately compensated

> work with the Central CorporateServices Unit (CCSU) within theNSW Department of Commerce tointroduce electronic employee self-service (ESS) in September 2002. TheEES gives employees online accessto information on leave balancesand service history, and the capacityto change personal details such asaddress and bank account details.

This will significantly reduce thenumber of paper transactions,thereby enhancing efficiency.

There were no industrial relationsdisputes during the year andperformance targets nominated inthe operational plan were achievedto the specified standard.

Our most exciting challenge during2002-03 was to support SOPA inestablishing itself as an outstandingpublic authority committed to thedevelopment and maintenance ofSydney Olympic Park as an eminentplace that provides diverseopportunities for emotional,occupational, social, intellectual,economic, spiritual and physicalwellbeing. Corporate Servicesexercises a key role in thedevelopment of an organisationalculture that is characterised by highlevel skills and expertise,competence and enthusiasm.

Corporate ServicesSOPA’s placemaking and placemanagement functions areunderpinned by governance andsupport services. These services arethe ‘oil’ that ensures our businessengine runs smoothly and it is the roleof Corporate Services to ensure thatthe highest standards of corporategovernance are applied across themanagement of SOPA’s business.

Corporate Services promotes a workculture that fosters and recognisescreativity, performance andcontinuous improvement in SOPA’soperations, and fosters an enterpriseculture that will attract and retainhigh calibre individuals who are ableto contribute to the organisation’sgoals. The Corporate Services teamalso develops and maintains theinternal management systems andprocesses that will achievefulfilment of SOPA’s corporateobjectives.

The Corporate Services functionalarea is made up of six businessunits: Executive Services, CorporateGovernance Coordination, PersonnelServices, Administrative Services,Information Technology andTelecommunications Strategy andServices and Records and CorporateInformation Services. In contributingto SOPA’s long-term corporateobjectives, the team’s vision is fora well-trained and committedworkforce to enhance SOPA’s placeas a highly respected statutory bodywithin the NSW Public Service.

Corporate Services oversees theimplementation of all governance,statutory and governmentrequirements. To enable SOPA tofunction at maximum efficiency,Corporate Services provides a fullrange of organisational supportfunctions.

The major strength of CorporateServices is the experience of a small,multi-skilled team of professionalswho are committed to thedevelopment and management ofSydney Olympic Park. The team’sprimary objectives are to: facilitatethe operational and organisationaleffectiveness of SOPA; enhanceSOPA’s organisational effectivenessthrough implementation of thehighest standard of human resourcemanagement practices; coordinatethe management of all statutoryand Government requirementsthroughout SOPA; provide highestquality support and administrativeservices; develop and implementSOPA’s Information Technology andTelecommunications Strategy; andmanage corporate information.

During 2002-03 Corporate Services’achievements included:

> coordination of the recruitmentof 4 Executive Directors and 15 seniorstaff to key positions across SOPA.

> development of a PerformanceManagement System – inconsultation with SOPA staff andthe Public Service Association (PSA)to assist optimum performance ofstaff and identify training needs

> establishment of an OccupationalHealth & Safety Committee

> implementation of strategies tosafeguard SOPA’s physical assetsduring the World Trade OrganisationMeeting at Sydney Olympic Park inNovember 2002 and ensured staffwelfare needs were identified andaddressed

> implementation of revisedarrangements for appointmentprocesses, management ofmisconduct and unsatisfactoryperformance, resulting from thePublic Sector Employment andManagement Act 2002

> completion of a rollout of newPCs to all SOPA staff

> development of a framework forthe implementation of salarypackaging for all staff within theorganisation. This option waspreviously only available to SES andsenior officers (salary packagingwithin SOPA will commence in2003-04)

> development of a policyframework for the operation ofSydney Olympic Park BusinessAssociation Rewards Program forSOPA staff

09 Support Services

Phil SidotiExecutive Director Corporate Services

45

to 2006-07. SOPA will also be takingon funding responsibility for theAquatic Centre and State SportsCentre in the 2003-04 financial year.

Offsetting these increased costs area growing income stream generatedfrom carpark revenue, licence fees,rental income and Sydney OlympicPark's expanding array ofeducational, cultural, sporting andtourism-based programs.

Capital income generated from landsales and developer contributionsduring 2003-08 is forecast to total$30 million. Capital replacementfunding is expected to demand fundingof at least $3 million per annumover the five-year planning period.

In driving our income harder andtargeting incremental reductions infunding from Treasury, SOPA aims todemonstrate long-termimprovement in businessperformance and sustainability.

Risk ManagementDuring 2002-03, a workshop wasconducted for Executive Directors toidentify the major risks that couldimpact negatively on SOPA’s 2003-08 Corporate Plan. These risks andtheir related mitigation strategieswere linked to objectives inDivisional Operations Plans toensure that risk mitigationstrategies were appropriatelyidentified and allocated tofunctional areas.

During the year, the followingPolicies and Procedures weredeveloped to assist themanagement of risk:

> Occupational Health and SafetyManagement System thatincorporates SOPA's OHS Policy

> procedure for reporting andresponding to incidents andother issues

> revised Work Permit systemto control work carried out bycontractors at SydneyOlympic Park.

SOPA's contribution to the TreasuryManaged Fund (self-insurancearrangement) for 2002-03 was$811,980. This figure increased by31% to $1,064,520 for 2003-04Treasury Managed Fund.

The major risk-related CorporateObjectives for 2003-04 are:

> refinement of the OHSManagement System includinginternal audit, and

> development andimplementation of:

• a Security Risk Management Plan,incorporating Counter-Terrorismstrategies

• a framework for review andmonitoring of action plans relatedto the Top 10 Corporate Risks

• additional risk-related Policies

• a formal Risk ManagementTraining Program

• a process to monitor effectivenessof Risk Management Policies,Procedures and Action Plans.

44

Financial Services The Financial Services functionalarea is responsible for the effectivemanagement of SOPA's financesand risks through effective andinnovative financial systems,financial advice, financial planningand risk mitigation strategies, andensuring that all statutory financialobligations are met.

The specific functions of FinancialServices include: financial andtreasury accounting, managementaccounting, business systems,accounts payable, accountsreceivable, risk management,insurance and asset accounting.Finance also implements financeand risk management policies andprocedures; process and recordinsurance claims; and respond tosubpoenas for public liability claims.

Certainly, Financial Services’ greatestassets are a highly dedicated, skilledand motivated team, and a welldeveloped financial managementsystem that has integrated orderingand accrual functionality.

The Financial Services teamsupports other functional areas inSOPA with financial information andbudgeting and commercialstrategies – and works closely withthe commercial side of SOPA'sbusiness, assessing business anddevelopment bids and providingstrategic and operational advice toeach business unit.

Principles of financialmanagementIn its work to assist SOPA achieve itsvision of establishing a vibrant townat Sydney Olympic Park, the SOPABoard established some keyfinancial principles that will guidethe future financial managementand planning of the organisation.These principles included the needfor SOPA to retain proceeds fromland sales to fund income-producing capital expenditurewithin Sydney Olympic Park.

Major achievements – Financial systemsFrom 1 June to 1 July 2003, FinancialServices upgraded the SAP FinancialManagement System from version3.1H to 4.6C. The upgrade wasnecessary to ensure future supportof the application and, thanks toexcellent project management, thiswas the fastest technical SAPupgrade turnaround time inthe country.

During the year, Financial Servicesalso decentralised SOPA’spurchasing and implemented anonline purchasing system, changedSOPA’s banking arrangementswithout the use of any paid externalsupport (SOPA is one of the earliestagencies to achieve this),implemented an integrated fixedasset module and improved SOPA’scompliance to GST, which wasevidenced by a follow up reviewfrom our internal auditors, Deloittes.

Agreement with Treasury

SOPA has $2.1 billion in assetsand annual expenditure ofapproximately $60 million – ofwhich approximately $20 million isgenerated from the private sectorand approximately $40 million isfunded by NSW Treasury.

SOPA will continue to rely heavily onrecurrent funding from the NSWGovernment in order to perform itswork during the next five years.Capital expenditure on communityservice obligations in 2003-04 willinclude an outlay of $5 million onimprovements to the Parklands,with a further $17 million allocated

09 Support Services

LEFTAndrew RennieRisk Manager Financial Services

RIGHTNick HubbleExecutive DirectorFinancial Services

4746

10 Financial Statements

INDEPENDENT AUDIT REPORT

SYDNEY OLYMPIC PARK AUTHORITY

To Members of the New South Wales Parliament

Audit Opinion

In my opinion, the financial report of the Sydney Olympic Park Authority:

(a) presents fairly the Authority’s financial position as at 30 June 2003 and its financialperformance and cash flows for the year ended on that date, in accordance with applicableAccounting Standards and other mandatory professional reporting requirements in Australia, and

(b) complies with sections 41B and 41BA of the Public Finance and Audit Act 1983 (the Act).

The opinion should be read in conjunction with the rest of this report.

The Board’s Role

The financial report is the responsibility of the Members of the Sydney Olympic ParkAuthority. It consists of the statement of financial position, the statement of financial performance,the statement of cash flows and the accompanying notes.

The Auditor’s Role and the Audit Scope

As required by the Act, I carried out an independent audit to enable me to express an opinion on thefinancial report. My audit provides reasonable assurance to Members of the New South WalesParliament that the financial report is free of material misstatement.

My audit accorded with Australian Auditing and Assurance Standards and statutory requirements, and I:

• evaluated the accounting policies and significant accounting estimates used by the Board inpreparing the financial report, and

• examined a sample of the evidence that supports the amounts and other disclosures in thefinancial report.

An audit does not guarantee that every amount and disclosure in the financial report is error free.Theterms ‘reasonable assurance’and ‘material’ recognise that an audit does not examine all evidence andtransactions. However, the audit procedures used should identify errors or omissions significantenough to adversely affect decisions made by users of the financial report or indicate that BoardMembers had failed in their reporting obligations.

My opinion does not provide assurance:

• about the future viability of the Authority,

• that the Authority has carried out its effectiveness effectively, efficiently and economically, or

• about the effectiveness of its internal controls.

Audit Independence

The Audit Office complies with all applicable independence requirements of Australian professionalethical pronouncements. The Act promotes independence by:

• providing that only Parliament, and not the executive government, can remove anAuditor-General, and

• mandating the Auditor-General as auditor of public sector agencies but precluding the provisionof non-audit services, thus ensuring the Auditor-General and the Audit Office are notcompromised in their role by the possibility of losing clients or income.

A Oyetunji CPAAssistant Director of Audit

SYDNEY 25 September 2003

GPO BOX 12SYDNEY NSW 2001

Sydney Olympic Park Authority, 7 Figtree Drive, Sydney Olympic Park NSW 2127

Tel +61 2 9714 7300 Fax + 61 2 9714 7818 www.sydneyolympicpark.nsw.gov.au ABN 68 010 941 405

SYDNEY OLYMPIC PARK AUTHORITYFinancial Statements for the Year Ended 30 June 2003

Pursuant to Section 41C(1B) and (1C) of the Public Finance and Audit Act 1983, wedeclare that in our opinion:

1. The accompanying financial statements exhibit a true and fair view of theAuthority’s financial position as at 30 June 2003 and transactions for the yearthen ended.

2. The statements have been prepared in accordance with the provisions of thePublic Finance and Audit Act 1983, the Public Finance and Audit (General)Regulation 2000, the Treasurer’s Direction and the directives of the FinancialReporting Code.

Further, we are not aware of any circumstances which would render any particularsincluded in the financial statements to be misleading or inaccurate.

D Richmond AO B NewmanChairman Chief Executive Officer

24 September 2003

10 Financial Statements

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10 Statement of Financial Performance 10 Statement of Financial Position

ExpensesOperating expenses

Employee related 2(a) 16,352 17,330 15,487Other operating expenses 2(b) 37,432 34,492 43,255

Maintenance 10,521 10,235 10,951Depreciation and amortisation 2(c) 44,288 26,573 43,473Grants and subsidies 2(d) 3,237 1,500 -Other expenses 2(e) 27,543 - - Total Expenses 139,373 90,130 113,166

Less:Retained RevenueSale of goods and services 3(a) 14,251 13,619 12,706Investment income 3(b) 5,382 1,440 1,658Retained taxes, fees and fines 3(c) 338 500 208Grants and contributions 3(d) 5,530 2,757 2,482Other revenue 3(e) 28,936 67,695 66,890Total Retained Revenue 54,437 86,011 83,944

Gain / (loss) on disposal of non-current assets 4 (462) 10,922 -

Net Cost of Services 22 85,398 (6,803) 29,222

Government ContributionsRecurrent appropriation 6 40,919 40,922 34,730Capital appropriation 6 27,877 27,877 6,856(Asset sale proceeds transferred to the Crown Entity) - (14,922) -Acceptance by the Crown Entity of employeebenefits and other liabilities 7 1,649 377 1,654Total Government Contributions 70,445 54,254 43,240

SURPLUS /(DEFICIT) FOR THE YEAR 18 (14,953) 61,057 14,018

TOTAL REVENUES, EXPENSES AND VALUATION - - -ADJUSTMENTS RECOGNISED DIRECTLY IN EQUITY

TOTAL CHANGES IN EQUITY OTHER THANTHOSE RESULTING FROM TRANSACTIONS WITH OWNERS AS OWNERS (14,953) 61,057 14,018

The accompanying notes form part of these statements.

ASSETSCurrent AssetsCash 9 33,463 5,516 20,359Receivables 10 22,951 7,980 6,780Inventories 11 26 26 26Total Current Assets 56,440 13,522 27,165

Non-Current AssetsReceivables 10 66,516 - -Inventories 11 13,920 - -Other financial assets 12 0 2,624 0Property, Plant and Equipment

- Land and Buildings 1,113,995 1,149,440 1,129,838 - Plant and Equipment 6,323 7,113 6,968- Infrastructure Systems 535,667 609,947 608,577

Total Property, Plant and Equipment 13 1,655,985 1,766,500 1,745,383 Other 14 216,762 258,909 194,739Total Non-Current Assets 1,953,183 2,028,033 1,940,122Total Assets 2,009,623 2,041,555 1,967,287

LIABILITIESCurrent LiabilitiesPayables 15 18,638 1,412 13,862Provisions 16 4,049 4,195 3,893Other 17 1,008 5,513 13Total Current Liabilities 23,695 11,120 17,768

Non-Current LiabilitiesProvisions 16 4,410 2,918 2,918Total Non-Current Liabilities 4,410 2,918 2,918Total Liabilities 28,105 14,038 20,686

Net Assets 1,981,518 2,027,517 1,946,601

EQUITY 18Total Equity 1,981,518 2,027,517 1,946,601


Notes Actual Budget Actual2003 2003 2002$'000 $'000 $'000


for the Year Ended 30 June 2003 as at 30 June 2003

5150

CASH FLOWS FROM OPERATING ACTIVITIESPaymentsEmployee related (15,304) (16,372) (12,979)Grants and subsidies (3,560) (1,500) -GST Remitted to the ATO (447) - -Other (54,916) (53,529) (35,891)Total Payments (74,227) (71,401) (48,870)

ReceiptsSale of goods and services 14,558 13,619 10,943Retained taxes, fees and fines 338 - 208Interest received 1,160 1,440 1,188GST Received from the ATO 9,092 - 1,585Other 15,524 10,982 2,127Total Receipts 40,672 26,041 16,051

Cash Flows From GovernmentRecurrent appropriation 6 40,919 40,922 34,730Capital appropriation 6 27,877 27,877 6,856Asset sale proceeds transferred to the Crown Entity - (16,013) -Cash reimbursements from the Crown Entity 692 560 477Net Cash Flows From Government 69,488 53,346 42,063NET CASH FLOWS FROM OPERATING ACTIVITIES 22 35,933 7,986 9,244

CASH FLOWS FROM INVESTING ACTIVITIESProceeds from sale of Land and Plant and Equipment 44 14,922 -Proceeds from sale of investments - - 428Advance repayments received - 376 -Purchases of Land and Buildings, Plantand Equipment and Infrastructure Systems (26,990) (36,627) (21,129)Advances made (1,479) (1,500) (11,044)NET CASH FLOWS FROM INVESTING ACTIVITIES (28,425) (22,829) (31,745)

NET INCREASE/(DECREASE) IN CASH 7,508 (14,843) (22,501)Opening cash and cash equivalents 20,359 20,359 -Cash transferred in (out) as a result of administrative restructuring 18 5,596 - 42,860CLOSING CASH AND CASH EQUIVALENTS 9 33,463 5,516 20,359


1. SUMMARY OF SIGNIFICANTACCOUNTNG POLICIES

(a) Reporting EntityThe Sydney Olympic Park Authority(SOPA) was established in 2001 andtook over the previous responsibilitiesof the Olympic Coordination Authority(OCA).

The reporting entity is consolidatedas part of the NSW Total State SectorAccounts.

(b) Basis of Accounting

The Authority’s financial statementsare a general purpose financial reportwhich has been prepared on anaccruals basis and in accordance with:

• applicable Australian AccountingStandards

• other authoritative pronouncementsof the Australian AccountingStandards (AASB)

• Urgent Issues Group (UIG)Consensus Views

• the requirements of the PublicFinance and Audit Act andRegulations' and

• the Financial Reporting Directionspublished in the Financial ReportingCode for Budget Dependent GeneralGovernment Sector Agencies orissued by the Treasurer undersection 9(2)(n) of the Act.

Where there are inconsistenciesbetween the above requirements, thelegislative provisions have prevailed.

In the absence of a specificAccounting Standard, otherauthoritative pronouncements of theAASB or UIG Consensus View, thehierarchy of other pronouncementsas outlined in AAS 6 “AccountingPolicies” is considered.

Except for certain investments, landand buildings, plant and equipment,and infrastructure systems, which arerecorded at valuation, the financialstatements are prepared inaccordance with the historical cost convention.

All amounts are rounded to thenearest one thousand dollars and areexpressed in Australian currency.

(c) Administered Activities

The Authority does not have anyadministered activities.

(d) Revenue Recognition

Revenue is recognised when theagency has control of the good orright to receive, it is probable that theeconomic benefits will flow to theagency, and the amount of revenuecan be measured reliably.

Additional comments regarding the accounting policies for therecognition of revenue are discussed below.

(i) Parliamentary Appropriations andContributions from Other Bodies

Parliamentary appropriations andcontributions from other bodies(including grants and donations) aregenerally recognised as revenueswhen the agency obtains controlsover the assets comprising theappropriations/contributions. Controlover appropriations and contributionsis normally obtained upon the receiptof cash.

An exception to the above is whenappropriations are unspent at yearend. In this case, the authority tospend the money lapses andgenerally the unspent amount mustbe repaid to the Consolidated Fund in the following financial year. As aresult, unspent appropriations areaccounted for as liabilities rather than revenue.

(ii) Sale of Goods and Services

Revenue from the sale of goods andservices comprises revenue from theprovision of products or services i.e.user charges. User charges arerecognised as revenue when theagency obtains control of the assetsthat result from them.

(iii) Investment Income

Interest revenue is recognised as itaccrues. Rent revenue is recognisedin accordance with AAS17 "Accountingfor Leases".

(e) Employee Entitlements

(i) Salaries and Wages, Annual Leave,Sick Leave and On Costs

Liabilities for salaries and wages andannual leave are recognised andmeasured in respect of employees’services up to the reporting date atnominal amounts based on theamounts expected to be paid whenthe liabilities are settled.

Unused non-vesting sick leave doesnot give rise to a liability as it is notconsidered probable that sick leavetaken in the future will be greater thanthe benefits accrued in the future.

The outstanding amounts of payrolltax, workers’ compensation insurancepremiums and fringe benefits tax,which are consequential toemployment, are recognised asliabilities and expensed where theemployee entitlements to which theyrelate have been recognised.

(ii) Long Service Leave andSuperannuation

The Authority’s liabilities for longservice leave and superannuation areassumed by the Crown Entity. TheAuthority accounts for the liability ashaving been extinguished resulting inthe amount assumed being shown aspart of the non-monetary revenueitem described as “Acceptance by theCrown Entity of Employee Benefitsand Other Liabilities”.

Long service leave is measured on apresent value basis. The short-handmethod is based on the remunerationrates at year end for all employeeswith five or more years of service. Itis considered that this measurementtechnique produces results notmaterially different from the estimatedetermined by using the presentvalue basis of measurement.

10 Statement of Cash Flows 10 Notes to the Financial Statementsfor the Year Ended 30 June 2003


5352

The superannuation expense for thefinancial year is determined by usingthe formula specified in theTreasurer’s Directions. The expense forcertain superannuation schemes (ieBasic Benefit and First State Super) iscalculated as a percentage of theemployees’ salaries. For othersuperannuation schemes (ie StateSuperannuation Scheme and StateAuthorities Superannuation Scheme),the expense is calculated as amultiple of the employees’superannuation contributions.

(f) InsuranceThe Authority’s insurance activitiesare primarily conducted through theNSW Treasury Managed Fund Schemeof self-insurance for Governmentagencies. The expense (premium) isdetermined by the Fund Managerbased on past experience.

There are also minor commercialinsurance arrangements in place forrisks that for commercial reasons,SOPA has had to accept but for which,the TMF is unable to provideprotection.

(g) Accounting for the Goods andServices Tax (GST)

Revenues, expenses and assets arerecognised net of the amount of GST,except: where

• the amount of GST incurred by theAuthority as a purchaser that is notrecoverable from the AustralianTaxation Office is recognised as partof the cost of acquisition of an assetor as part of an item of expense.

• receivables and payables are statedwith the amount of GST included.

(h) Acquisitions of AssetsThe cost method of accounting isused for the initial recording of allacquisitions of assets controlled bythe Authority. Cost is determined asthe fair value of the assets given asconsideration plus the costsincidental to the acquisition.

Assets acquired at no cost, or fornominal consideration, are initiallyrecognised as assets and revenues at their fair value at the date ofacquisition (see also assetstransferred as a result of anadministrative restructure.Refer Note 1(t).

Fair value means the amount forwhich an asset could be exchangedbetween a knowledgeable, willingbuyer and a knowledgeable, willingseller in an arm’s length transaction.

(i) Plant and EquipmentPlant and equipment costing $5,000and above individually are capitalised.

( j) Revaluation of Physical Non-Current Assets

Physical non-current assets arevalued in accordance with the“Guidelines for the Valuation ofPhysical Non-Current Assets at FairValue” (TPP 03-02). This policy adoptsfair value in accordance with AASB1041 from financial years beginningon or after 1 July 2002. There is nosubstantive difference between thefair value valuation methodology andthe previous valuation methodologyadopted in the NSW public sector.

Where available, fair value isdetermined having regard to thehighest and best use of the asset onthe basis of current market selling

prices for the same or similar assets.Where market selling price is notavailable, the asset’s fair value ismeasured at its market buying priceie the replacement cost of the asset’sremaining future economic benefits.

Each class of physical non-currentassets is revalued every five years andwith sufficient regularity to ensurethat the carrying amount of eachasset in the class does not differmaterially from its fair value atreporting date.

Non-specialised assets with shortuseful lives are measured atdepreciated historical cost, as asurrogate for fair value.

When revaluing non-current assetsby reference to current prices forassets newer than those beingrevalued (adjusted to reflect thepresent condition of the assets), thegross amount and the relatedaccumulated depreciation isseparately restated.

Otherwise, any balances ofaccumulated depreciation existing atthe revaluation date in respect ofthose assets are credited to the assetaccounts to which they relate. The netasset accounts are then increased ordecreased by the revaluationincrements or decrements.

Revaluation increments are crediteddirectly to the asset revaluationreserve, except that, to the extentthat an increment reverses arevaluation decrement in respect ofthat class of asset previouslyrecognised as an expense in thesurplus / deficit, the increment isrecognised immediately as revenue inthe surplus / deficit.

Revaluation decrements arerecognised immediately as expensesin the surplus / deficit, except that, tothe extent that a credit balance existsin the asset revaluation reserve inrespect of the same class of assets,they are debited directly to the assetrevaluation reserve.

Revaluation increments anddecrements are offset against oneanother within a class of non-currentassets, but not otherwise.

Where an asset that has previouslybeen revalued is disposed of, anybalance remaining in the assetrevaluation reserve in respect of that asset is transferred toaccumulated funds.

(k) Depreciation of Non-CurrentPhysical Assets

Depreciation is provided for on astraight-line basis for all depreciableassets so as to write off thedepreciable amount of each assetas it is consumed over its useful lifeto the Authority.

All material separately identifiablecomponent assets are recognised anddepreciated over their shorter usefullives, including those componentsthat in effect represent majorperiodic maintenance.

Land is not a depreciable asset.

Depreciation rates for these assetcategories are as follows:

• Buildings including Facilitiesand Sporting Venues2% - 10% per annum

• Computer Equipment25% per annum

• Office Equipment20% per annum

• Leasehold ImprovementsPeriod of lease

• Infrastructure2% – 25% per annum

• Other Plant & Equipment10% – 25% per annum

(l) Maintenance and RepairsThe costs of maintenance are chargedas expenses as incurred, except wherethey relate to the replacement of acomponent of an asset in which casethe costs are capitalised anddepreciated.

(m) Leased AssetsA distinction is made betweenfinance leases which effectivelytransfer from the lessor to the lesseesubstantially all the risks and benefitsincidental to ownership of the leasedassets, and operating leases underwhich the lessor effectively retains allsuch risks and benefits.

Operating lease payments arecharged to the Statement of FinancialPerformance in the periods in whichthey are incurred.

All of the Authority’s current leasearrangements are classified asoperating.

(n) ReceivablesReceivables are recognised andcarried at cost based on the originalinvoice amount less a provision forany uncollectible debts. An estimatefor doubtful debts is made whencollection of the full amount is nolonger probable. Bad debts arewritten off as incurred.

(o) InventoriesInventories are stated at the lower ofcost and net realisable value. The costis calculated using the weightedaverage cost or “first in first out”method. This years figures includeproperty inventory for sale.

(p) InvestmentsThe Authority’s marketable depositsare valued at cost. The Authority’sinvestments are all classified ascurrent investments.

(q) Other Financial Assets“Other financial assets” are generallyrecognised at cost, with the exceptionof TCorp Hour Glass Facilities andManaged Fund Investments, whichare measured at market value.

For non-current “other financialassets”, revaluation increments anddecrements are recognised in thesame manner as physical non-currentassets. Refer Note 1( j).

(r) Major Repairs FundsUnder the terms of the leasebetween the Authority and the RoyalAgricultural Society of New SouthWales, the Authority is required tomaintain a Major Repairs Fund (MRF).The MRF is to be used for majorrepairs to be undertaken for thepurposes of preserving andprolonging the useful, economic lifespan of existing improvementsduring the lease term. Refer Note 16.

(s) Other AssetsOther assets including prepaymentsare recognised on a cost basis.

10 Notes to the Financial Statements 10 Notes to the Financial Statements

5554

2. EXPENSES(a) Employee related expenses

Salaries and wages (including recreation leave) 13,222 12,949Superannuation 931 1,245Long service leave 663 361Workers' compensation insurance 200 146Payroll tax and fringe benefit tax 1,336 786

16,352 15,487

(b) Other operating expensesAuditors’ remuneration

- audit or review of the financial reports 64 58Insurance 683 470Asset management 4,000 3,357Operating lease rental expense

- minimum lease payments 1,596 1,412Increase in provision for doubtful debts

- Receivables 1,629 13,305- Financial Assets 2,639 -

Bad Debts 30 -Administration 3,065 3,027Advertising 3,764 2,319Activity & Entertainment 1,230 2,241Site Services 10,464 5,749Utilities 1,315 1,174Consultancies 822 2,093Information technology 735 2,160Royal Agricultural Society of NSW – Major Repairs 2,148 2,032Sydney International Aquatic Centre – Major Repairs 2,113 2,459Other 1,135 1,399

37,432 43,255

(c) Depreciation and amortisation expenseDepreciation

- Land and Buildings 611 610- Plant and Equipment 936 842- Facilities 16,044 16,016- Infrastructure Sytems 26,409 25,690

Amortisation- Leasehold Improvements 288 315

13 44,288 43,473

(t) Equity TransfersThe transfer of net assets betweenagencies as a result of anadministrative restructure, transfer ofprograms / functions and partsthereof between NSW public sectoragencies are designated as acontribution by owners by NSWTC01/11 and are recognised as anadjustment to “Accumulated Funds”.This treatment is consistent withUrgent Issues Group Abstract UIG 38“Contributions by Owners Made toWholly Owned Public Sector Entities”.

Transfers arising from anadministrative restructure betweengovernment departments arerecognised at the amount at whichthe asset was recognised by thetransferor government departmentimmediately prior to the restructure.In most instances this willapproximate fair value. All otherequity transfers are recognised at fair value.

(u) PayablesThese amounts represent liabilitiesfor goods and services provided tothe agency and other amounts,including interest. Interest is accruedover the period it becomes due.

(v) Budgeted amountsThe budgeted amounts are drawnfrom the budgets as formulated atthe beginning of the financial yearand with any adjustments for theeffects of additional appropriationsunder s21A, s24, and/or s 26 of thePublic Finance and Audit Act 1983.

The budgeted amounts in theStatement of Financial Performanceand the Statement of Cash Flows aregenerally based on the amountsdisclosed in the NSW Budget Papers(as adjusted above). However, in theStatement of Financial Position, theamounts vary from the BudgetPapers, as the opening balances ofthe budgeted amounts are based oncarried forward actual amounts ie perthe audited financial statements(rather than carried forwardestimates).

(w) Right to ReceiveIn respect of those major OlympicFacility projects which were funded,developed and initially managed bythe private sector, the Authorityrecognises and values the “Right toReceive” included within Other Non-Current Assets. These facilities,following completion of construction,will be fully realised at the end of theagreed contractual period. Thisvaluation / revaluation methodologyprovides that when ownership/controlreverts to the Authority thecumulative asset value recognised atthat time will be equal to its writtendown replacement cost.

Practical completion dates of theOlympic Stadium and SuperDomeoccurred on 1 March 1999 and30 August 1999 respectively. Boththese venues will revert to theAuthority on the expiry of the leaseterms in 2031.

SOPA’s emerging share of thereversionary interest in the OlympicStadium and Sydney SuperDome isbeing recognised over the life of thelease (30.5 years). The valuationformula employed is a variant of theconventional discounting model.


Notes 2003 2002$'000 $'000

5756

(d) Grants and subsidiesSydney International Aquatic Centre 3,237 -

3,237 -

(e) Other ExpensesContribution of potable and waste water infrastructure assets to Sydney Water 12,424 -Physical non-current asset revaluation decrement – Sydney Water asset 15,119 -

27,543 -

As per the Developer Agreement 1997 between the Authority and Sydney Water and Relationship Statement, the potablewater and waste water infrastructure was contributed to Sydney Water as at 30 June 2003.

(f) Items of Significance:Provision for Doubtful Debt in respect of Loan (included in Doubtful Debts expense) 2,639 11,044

3. REVENUES(a) Sale of goods and services

Operating Lease Income 3,997 3,611Estate Recoveries 4,047 4,051Car Parking Income 5,207 4,432Other 1,000 612

14,251 12,706

(b) Investment incomeInterest – Bank 1,053 1,038Interest – Advances 1,160 523Interest – Receivable on sale of land 2,983 -Interest – Other 186 83Interest – Investments - 14

5,382 1,658

(c) Retained taxes, fees and finesTraffic Fines 338 208

338 208

(d) Grants and contributionsDepartment of Sport and Recreation

- Sydney International Aquatic and Athletic Centre 3,801 1,939AMP

- Contribution to Olympic Sprinter Sculpture 1,114 -Tennis NSW:

- Contribution to the NSW Tennis Centre 421 543Developer Contributions 194 -

5,530 2,482

(e) Other revenueValue of Emerging Interest of Private Sector

Provided Infrastructure [refer 1(w)] 22,023 62,495Sale of Development Rights 5,756 2,040Management Fees 300 1,000Other 857 1,355

28,936 66,890

The Authority has entered into contracts for the sale and long-term lease for residential and commercial sites. Sale ishowever conditional on certain pre-sales and pre-commitments being achieved.

4. GAIN / (LOSS) ON DISPOSAL OF NON-CURRENT ASSETS

Gain / (Loss) on disposal of land and buildingsProceeds from disposal - -Written down value of assets disposed 13 48 -Net gain / (Loss) on disposal of land & buildings (48) -

Gain / (Loss) on disposal of plant and equipmentProceeds from disposal 44 -Written down value of assets disposed 13 95 -

Net gain / (Loss) on disposal of plant & equipment (51) -Gain / (Loss) on disposal of infrastructure systems

Proceeds from disposal - -Written down value of assets disposed 13 363 -

Net gain / (Loss) on disposal of infrastructure systems (363) -Gain / (Loss) on disposal of non-current assets (462) -

5. CONDITIONS ON CONTRIBUTIONSDeveloper Contributions 194 -

194 -

The Authority has entered into sales agreements on the condition that a component of proceeds from sale will beattributed to the provision of public infrastructure. The nature of this infrastructure is detailed in the AuthoritiesDeveloper Contribution Plan.

Notes 2003 2002$'000 $'000


Notes 2003 2002$'000 $'000

5958

6. APPROPRIATIONS

Recurrent appropriationsTotal recurrent drawdowns from Treasury (per Summary of Compliance) 24 40,919 34,730Comprising: Recurrent appropriations (per Statement of Financial Performance) 40,919 34,730

Capital appropriationsTotal capital drawdowns from Treasury (per Summary of Compliance) 24 27,877 6,856Comprising: Capital appropriations (per Statement of Financial Performance) 27,877 6,856

7. ACCEPTANCE BY THE CROWN ENTITY OF EMPLOYEE BENEFITSAND OTHER LIABILITIES

The following liabilities and/or expenses have been assumed by the Crown Entity:Superannuation 931 1,245Long service leave 663 361Payroll tax on superannuation 55 48

1,649 1,654

8. PROGRAMS / ACTIVITIES OF THE AUTHORITY

(a) Program: AdministrationProgram Objective(s):To establish Sydney Olympic Park as a vibrant cultural and community centre, and a significant regional sport,recreation and tourism facility for the enjoyment of all visitors.

Program Description:Promote, develop, manage and maintain Sydney Olympic Park for the benefit of the New South Wales community.

(b) Program Statement – Expenses and RevenuesThe Authority operates as a single program. The expenses and revenues of this program are as reflected in theStatement of Financial Performance.

9. CURRENT ASSETS – CASHCash at bank and on hand 26,848 20,359Deposits at call 6,615 -

33,463 20,359

10. CURRENT ASSETS / NON CURRENT ASSETS - RECEIVABLES

Current ReceivablesReceivable from sale of land 7,816 -Trade Debtors 6,235 3,756Interest Receivable 8,816 483GST Receivable 2,809 3,593Accrued Income 2,200 2,000Other 433 259Less: Provision for Doubtful Debts (5,358) (3,311)

22,951 6,780

Non-Current ReceivablesReceivable from sale of land 66,516 -

66,516 -

11. CURRENT / NON-CURRENT ASSETS - INVENTORIESCurrent Inventories 26 26

26 26

Non-Current InventoriesLand held for sale

At costCost of acquisition 9,670 -Other costs 4,250 -

13,920 -

12. NON-CURRENT ASSETSOTHER FINANCIAL ASSETS

Non-Current Financial AssetsAdvances Receivable 13,683 11,044Less: Provision for Doubtful Debts (13,683) (11,044)

0 0


Notes 2003 2002$'000 $'000

Notes 2003 2002$'000 $'000

6160

13. NON-CURRENT ASSETS – PROPERTY, PLANT AND EQUIPMENT

Land & BuildingsAt Fair Value 1,147,878 1,146,779Less Accumulated Depreciation 33,883 16,941

1,113,995 1,129,838

Plant & EquipmentAt Fair Value 8,078 7,810Less Accumulated Depreciation 1,755 842

6,323 6,968

Infrastructure SystemAt Fair Value 585,371 634,267Less Accumulated Depreciation 49,704 25,690

535,667 608,577

Total Property, Plant and Equipment at Net Book Value 1,655,985 1,745,383

ReconciliationsReconciliations of the carrying amounts of each class of property, plant and equipment at the beginning and the end ofthe current and previous financial year are set out below.

2003 2002$'000 $'000

Carrying amount at start of year 1,129,838 6,968 608,577 1,745,383 -Additions 16,627 500 11,082 28,209 1,788,856Reclassifications (15,479) (114) 4,767 (10,826) -Disposals 48 95 363 506 -Contribution to other NSW Agencies - - 46,868 46,868 -Net revaluation decrement - - 15,119 15,119 -Depreciation expense 16,943 936 26,409 44,288 43,473Carrying amount at end of year 1,113,995 6,323 535,667 1,655,985 1,745,383

Land to the value of $10.8m was transferred to inventory relating to future land sales.

14. NON-CURRENT ASSETS – OTHERRight To Receive – Stadium 165,409 150,678Right To Receive – SuperDome 51,353 44,061

1(w) 216,762 194,739

2003 Land & Plant & Infrastructure Total TotalBuildings Equipment Systems 2003 2002

$’000 $’000 $’000 $’000 $’000

10 Notes to the Financial Statements

15. CURRENT LIABILITIES – PAYABLESAccrued salaries, wages and on-costs 437 451Creditors 188 151Accrued expenses 18,013 13,260

18,638 13,862

16. CURRENT /NON CURRENT LIABILITIES - PROVISIONSEmployee benefits and related on-costsRecreation leave 1,119 880Other 178 -

1,297 880

Other ProvisionsMajor Repairs Fund – Royal Agricultural Society 5,002 3,624Major Repairs Fund – Aquatic and Athletic Centre 2,160 2,307

7,162 5,931

Total Provisions 8,459 6,811

Aggregate employee benefits and related on-costsProvisions – current 1,136 880Provisions – non-current 161 -Accrued salaries, wages and on-costs 15 437 451

1,734 1,331

17. CURRENT LIABILITIES – OTHERSecurity Deposits 36 13Other 972 -

1,008 13

Notes 2003 2002$'000 $'000


Balance at the beginning of the financial year 1,946,601 - - -

Changes in equity – transactions with owners as ownersTransfer of OCA Equity 84,314 1,834,416 84,314 1,834,416

Transfer of Bi Centennial Park Equity - 44,690 - 44,690

Transfer of State Sports Centre Equity - 53,477 - 53,477

Transfer to Energy Australia (34,444)

Total 49,870 1,932,583 84,314 1,932,583

Changes in equity – other than transactionswith owners as ownersSurplus / (deficit) for the year (14,953) 14,018 (14,953) 14,018

Total (14,953 ) 14,018 (14,953) 14,018Balance at the end of financial year 1,981,518 1,946,601 69,361 1,946,601

The enactment of the Sydney Olympic Park Authority Act 2001, required SOPA to assume responsibility for the assets, rightsand liabilities of both OCA (in respect of Sydney Olympic Park) and Bicentennial Park and the assets comprising the landand buildings of the State Sports Centre.

The net assets including cash balances assumed by SOPA from OCA and Bicentennial Park following their dissolutions havebeen recorded as equity.

The OCA Dissolution Act transfers the assets, rights and liabilities of the Olympic Media Village at Lidcombe, intellectualproperty arising from the Olympic Games and the Paralympic games and the records of certain Olympic entities to theAuthority as at 1 July 2002.

Electricity Infrastructure assets transferred to Energy Australia pursuant to the Electricity Supply Act 1995.

Net assets acquired were:

6362

19. COMMITMENTS FOR EXPENDITURE

(a) Capital Commitments

Aggregate capital expenditure for the acquisition of property developmentsservices contracted for at balance date and not provided for:

Not later than one year 551 -

Total (including GST) 551 -

Aggregate capital expenditure for the acquisition of "Games Memory"construction contracted for at balance date and not provided for:

Not later than one year - 935

Total (including GST) - 935

Aggregate capital expenditure for the acquisition of other constructioncontracted for at balance date and not provided for:

Not later than one year - 341

Total (including GST) - 341

(b) Other Expenditure Commitments

Aggregate other expenditure contracted for at balance date andnot provided for:

Not later than one year 2,353 -

Total (including GST) 2,353 -

(c) Operating Lease Commitments

Future non-cancellable operating lease rentals not provided for and payable:

Not later than one year 1,716 1,377Later than one year and not later than 5 years 2,871 3,774

Total (including GST) 4,587 5,151

The Authority’s operating leases relate to property and motor vehicles. There are currently 3 renewable property leasesexpiring in 2006 and 33 motor vehicle leases.

The total expenditure commitments above includes input tax credits of $0.681 million ($0.584 million in 2002) which areexpected to be recovered from the Australian Taxation Office.

10 Notes to the Financial Statements10 Notes to the Financial Statements

2003 2002 2003 2002$'000 $'000 $'000 $'000

18. CHANGES IN EQUITYAccumulated Funds Total Equity

2003 2002

Cash 5,596 41,914 946 - 42,860

Receivables 80,826 119 348 - 467

Other Financial Assets - - 414 - 414

Inventory - - 35 - 35

Other - - 22 - 22

Property Plant & Equipment - 1,663,121 43,314 53,477 1,759,912

Right to Receive - 132,244 - - 132,244

Payables (1,968) (2,218) (226) - (2,444)

Employee Entitlements (140) (764) (163) - (927)

84,314 1,834,416 44,690 53,477 1,932,583

OCA OCA Bi Park State Sports TotalCentre

$’000 $’000 $’000 $’000 $’000

Notes 2003 2002$'000 $'000

6564

20. CONTINGENT LIABILITIES ANDCONTINGENT ASSETS

Contingent LiabilitiesThere are a number of contractualarrangements involving possiblefuture claims against the Authority.The potential liability arising fromthese arrangements is currentlyestimated at $0.8 million. This amountincludes asset replacement andmaintenance works required to beperformed under existing agreements.($4.8 million in 2002).

The Authority has a liability for theOlympic Stadium and SydneySuperdome only in the event of anatural disaster or a breach of contractby the Authority. In the event of anatural disaster the Authority wouldbe responsible for the full cost ofreplacing the stadium and superdomeless any insurance recoveries by thesevenues. The possibility of either ofthese events occurring is consideredremote.

21. BUDGET REVIEW

Net Cost of ServicesThe actual net cost of services was$92.2 million higher than budget.The material variances are:

• an increase in depreciation of$17.7 million (non-cash),

• a decrease in other revenue of$38.8 million (non-cash) from thechange in the index rate onreversionary interest for the Stadiumand Superdome,

• contribution of potable and wastewater infrastructure assets to SydneyWater of $12.4 million,

• revaluation decrement on SydneyWater assets of $15.1 million, and

• the budget provided $10.9 millionfor recognition of the sale of theLidcombe Media Village which wasrecognised as a late adjustment inthe previous years accounts of theOlympic Co-ordination Authority.

Assets and Liabilities

Total Assets were $31.9 million underbudget due to:

• the transfer in from OlympicCoordination Authority receivables of$79.6 million relating to the sale ofLidcombe Media Village,

• increase in cash of $27.9 millionattributable to increased accruals of$17.2 million,

• the reduction in reversionary intereston the Stadium and Superdome of$42.1 million from a change in theindex rate,

• a decrease in property plant andequipment of $110.5 million from theincrease in depreciation, thecontribution to Sydney Water, thetransfer to property inventory, thetransfer of electricity infrastructureto Energy Australia and thedownward revaluation of waterassets. The budget also provided foran additional $20.0 million for theland at the Lidcombe Media Villagewhich was recognised as a lateadjustment in the previous yearsaccounts of the OlympicCo-ordination Authority and

• the increase in inventories of $13.9million attributable to a $10.8 milliontransfer of land and related propertydevelopment costs from propertyplant and equipment and $3.1 millionof current year property expenditure.

Total Liabilities were over budget by$14.1 million due to:

• an increase in accruals of $17.2million is as a result of the timing ofpayments and is represented by anincrease in cash and

• a decrease of $4.5 million in othercurrent liabilities from the inclusionof $5.5 million in the budget for thetransfer of liabilities from theOlympic Co-ordination Authority.

Cash Flows

Net Cash Flows from Operatingactivities are $27.9 million over budgetdue to:

• revised accounting treatment on thesale of the Media Village which hadan initial budget of $14.9 million incash flows from Government. Thetreatment of the sale has now beenincluded as a receivable,

• an increase in refund of GST of$9.1 million which was representedby $3.0 million previously budgetedin Other Receipts, receipt of $3.6 fromATO relating to previous year andincreased capital expenditure and

• an increase in revenue of $3.4 millionfrom sale of commercial propertiesnot finalised at budget.

22. RECONCILIATION OF CASH FLOWS FROM OPERATINGACTIVITIES TO NET COST OF SERVICES.

NET CASH USED ON OPERATING ACTIVITIES 35,933 9,244Adjustment for Cash Flows from Government/ Appropriations

Recurrent Appropriation (40,919) (34,730)Capital Appropriation (27,877) (6,856)

Acceptance by the Crown Entity of employee entitlements and other liabilities (692) (477)Adjustment for non-cash items

Depreciation and Amortisation (44,288) (43,473)Crown Liabilities (958) (1,177)Provision for Advances made 2,639 (11,044)Value of Emerging Interest of Private Sector Provided Infrastructure 22,023 62,495Interest – Receivable on sale of land 2,983 -Non-cash Donation 1,000 -Provision for doubtful debts 1,660 -Earnings on T Corp Hourglass Investment - 14Net loss / (gain) on sale of plant & equipment (462) -Contribution of potable and waste water infrastructure assets to Sydney Water (12,424) -Physical non-current asset revaluation decrement – Sydney Water asset (15,119) -Increase/(Decrease) in Receivables (6,535) 9,152Increase/(Decrease) in Other Current Assets - (31)Decrease/(Increase) in Payables 111 (6,581)Decrease/(Increase) in Employee Provisions (277) 48Decrease/(Increase) in Other Current Liabilities (2,196) (5,806)

NET COST OF SERVICES (85,398) (29,222)

2003 2002$'000 $'000


24. SUMMARY OF COMPLIANCE WITH FINANCIAL DIRECTIVES 30 JUNE 20032003

2002

6766

23. FINANCIAL INSTRUMENTS

Cash

Cash comprises cash on hand and bank balances within the Treasury Banking System. Interest is earned on daily bankbalances at the monthly average NSW Treasury Corporation (T'Corp) 11 am unofficial cash rate adjusted for a managementfee to Treasury.

Receivables

All trade debtors are recognised as amounts receivable at balance date. Collectability of trade debtors is reviewed on anongoing basis. Debts which are known to be uncollectible are written off. A provision for doubtful debts is raised whensome doubt as to collection exists. The credit risk is the carrying amount (net of any provision for doubtful debts). Nointerest is earned on trade debtors. The carrying amount approximates the net fair value.

Hour Glass Investment Facilities

The Authority has investments in TCorp’s Hour-Glass Investment facilities. The Authority’s investments are representedby a number of units within the facilities. Each facility has different investment horizons and comprises a mix of assetclasses appropriate to that investment horizon. TCorp appoints and monitors the application of appropriateinvestment guidelines.

The Authority’s investments are:

2003 2002$’000 $’000

Cash Facility 6,615 -

6,615 -

These investments are generally able to be redeemed with up to five business days notice (dependent on the facility). Thevalue of the investments held can decrease as well as increase depending upon market conditions. The value that bestrepresents the maximum credit risk is the net fair value. The value of the above investments represents the Authority’sshare of the value of the underlying assets of the facility and is stated at net fair value.

Bank Overdraft

The Authority does not have a bank overdraft facility.

Trade Creditors and Accruals

The liabilities are recognised for amounts due to be paid in the future for goods and services received, whether or notinvoiced. Amounts owing to suppliers (which are unsecured) are settled in accordance with the policy set out in Treasurer’sDirection 219.01. If trade terms are not specified, payment is made no later than the end of the month following the monthin which an invoice or a statement is received.


ORIGINAL BUDGET APPROPRIATION/ EXPENDITUREAppropriation Act 39,422 39,422 18,149 18,149Section 24-PF&AA – Transfer of functions between departmentsTOTAL 39,422 39,422 18,149 18,149

OTHER APPROPRIATIONS/ EXPENDITURETreasurer's Advance 1,500 1,497 9,728 9,728TOTAL 1,500 1,497 9,728 9,728

Total Appropriations/ Expenditure (includes Transfer Payments) 40,922 40,919 27,877 27,877Amount drawn down against Appropriation 40,919 27,877Liability to Consolidated Fund - -

ORIGINAL BUDGET APPROPRIATION/ EXPENDITUREAppropriation Act 31,878 31,878 4,892 4,892Section 24-PF&AA – Transfer of functions between departments 2,852 2,852 1,964 1,964TOTAL 34,730 34,730 6,856 6,856

OTHER APPROPRIATIONS/ EXPENDITURETreasurer's Advance - - - -TOTAL - - - -

Total Appropriations/ Expenditure (includes Transfer Payments) 34,730 34,730 6,856 6,856

Amount drawn down against Appropriation 34,730 6,856Liability to Consolidated Fund - -

Recurrent Expenditure Capital ExpenditureAppropriation Net Claim on Appropriation Net Claim on

Consolidated ConsolidatedFund Fund

$'000 $'000 $'000 $'000


End of Audited Financial Statements

Audit and Compliance CommitteeAddressed financial accounting,reporting and internal controlsand compliance issues.

Gabrielle Kibble, ChairChris ChristodolouHerb Elliott

Planning and DevelopmentCommitteeReviewed and evaluateddevelopment proposals forSydney Olympic Park.

David Richmond, ChairRobert LeeceGabrielle KibblePenelope FiggisBrian Newman

Parklands Advisory CommitteeMade recommendations tothe Board regarding care andmanagement of theMillennium Parklands.

Penelope Figgis, ChairDavid RichmondBrian NewmanCatherin BullBrian GilliganIan LoweLeigh MartinIrene SimmsPaolo TotaroDinah DysartPeter Duncan

Access Advisory CommitteeAdvised SOPA on the assessmentand management of access to Sydney Olympic Park by people with a disability.

Jean Halcrow, ChairAnn GibsonGlenn RedmayneDawn LinklaterLuisa FerronatoTherese SandsMark FlynnBryan Hardman

Education Reference PanelProvides independant conceptualand strategic advice to the Boardand assisted SOPA to achieve itsbusiness objectives for education.

Mr Warren Grimshaw (Chair)Mr David MazitelliMs kate GunnDr Graeme WattsProfessor Roger HolmesMary Lynne Pidcock

Design Review PanelProvides an independent review ofdesign proposals and the designprocess to achieve a cohesive, safeand legible public area.

Helen LochheadCharlotte Gay

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11 Appendices

Annual Report – costStock Monza Recycled SatinPrinted with vegetable dye based inks

CostThe total external costs (such asfees for consultants and printing)incurred in the production of thereport are $43,373. The report isavailable in a non-printed formatand may be accessed on the SydneyOlympic Park Authority website atwww.sydneyolympicpark.nsw.gov.au

Guarantee of ServicesSydney Olympic Park Authority(SOPA) aims for consistentexcellence in the provision ofinformation and customer services,based on integrity, professionalism,respect, timeliness and openness.

Land DisposalSOPA entered into agreements forthe sale of development sites 3 and5, 6, 7 as identified in the SydneyOlympic Park Masterplan. Once certain precommitments and presales are achieved for these sites, the private sector will commence development thatwill also result in the recognition of sale proceeds to SOPA.

No properties valued at more than $5 million were disposed of during2002-03, other than by tender. Theproperties that were disposed of by tender will facilitate continuedgrowth and development of SydneyOlympic Park by bringing residentialand commercial facilities to the Town Centre.

Major WorksMajor capital works undertaken bySOPA during 2002/2003 included:

Stadium ConstructionFinalisation of the Stadium’s post-Olympic redevelopment toapproximately 80,000 seats plusroofing of northern and southernstands. (Value $15.2M).

Property DevelopmentDesign documentation andtendering of major new commercialand residential buildings for SydneyOlympic Park town centre.(Value $2.1M).

Wayfinding Screens and SignageNew vehicular directional signage to Sydney Olympic Park acrossSydney’s urban road network plusimproved signage within the Park.(Value $1.8M).

Attractions and InfrastructureCompletion of the Games MemoriesPoles project, commencement ofnew Visitor Gateway andconnection of recycled water to newdevelopments. (Value $2.0M).

ParklandsInitial works of a five-year programrequired to give effect to theParklands Plan of Managementincluding entrance works, shade,pathways and education facilities.(Value $4.2M).

Asset Replacement/RenewalProtection of existing public assetsthrough replacement or renewal ofvarious elements including StateSports Centre, Rail Station,streetlights and cottages.(Value $1.2M).

There were no significant delays to, or amendment, defermentor cancellation of major works or programs.

68

Sydney Olympic Park Authority – Significant Committees

SOPA is responsible for the promotion,management, sustainabledevelopment and use of the publicassets of Sydney Olympic Park.

As part of SOPA’s commitmenttowards sustainability, AssetManagement Services hasestablished and continues todevelop a water and energymanagement program. Thisprogram is in line with SOPA’ssustainability strategy and, duringthe last twelve months, hasachieved significant improvementsin the following areas:

• Green Power adoption• due diligence in invoice handling• relationships with suppliers• water and energy reporting

capabilities• financial management.

The successes of this policy haveestablished a benchmark fromwhich the water and energyprogram may further develop andattain new objectives. Majoropportunities that have beenidentified for the program topursue are:

a) Review of the SustainabilityStrategy for Sydney Olympic Park.The 25% target for Green Powerpurchase is being met and theopportunity exists to evaluatealternative renewable energyproducts as a replacement for theremaining 75% coal-based power.

b) Formalise and document theprocesses that have beendeveloping in verifying accounts and monitoring their progressthrough the SOPA billing cycle.The documentation of thesetasks will ensure continuitybetween staff on the water andenergy program, and assist in

ensuring a high quality of work.The SOPA Energy ManagementPlan that was prepared in 2001should also be updated.

c) Evaluate the potential for thetender of electricity supply toachieve the best market offer interms of price, value-addedservices and possible partnershipor sponsorship opportunities. Theopportunity to increase thepercentage of renewable energybeing used should be consideredat the same time.

d) Implement a database replacementfor existing account spreadsheets.This database will improve thereporting response that can beprovided to SOPA and the internalfinancial management capability.

Energy ManagementSOPA currently maintains 79electricity accounts throughoutSydney Olympic Park. Of these, 30accounts supply facilities, 39accounts supply street lighting and10 accounts supply power forirrigation.

The number of accounts managedby SOPA in 2003-04 will be reducedto 76, as the result of P1 and P3carpark facilities assumingresponsibility for managing theirown utilities and the plannedtermination of one communicationsaccount.

SOPA is currently investigatingwhether accounts of similar typeand location may be consolidated tofurther reduce administrativeoverhead. The number of accountsdoes not impact on energyconsumption.

Environmental PerformanceThere was an increase in theamount of green energy usedbetween 2001-02 and 2002-03.The major factor for this increasewas the conversion in August 2002of several SOPA energy accounts tocontestable rates.

The level of Green Powerconsumption at Sydney OlympicPark represents a saving ofapproximately 1,873 tonnes ofcarbon dioxide from being releasedinto the atmosphere during2002-03.

Based on Sustainable EnergyDevelopment Authority (SEDA)estimates of 4.5 tonnes per vehicleper annum, the carbon dioxidesaving at Sydney Olympic Parkequates to approximately 415vehicles taken off Sydney’s roadsfor one year.

Achievements and OpportunitiesSOPA’s water and energy manage-ment program continuallyundertakes new initiatives that willreduce energy consumption costs,reduce carbon dioxide emissionsand improve the environmentalperformance of operations atSydney Olympic Park.

Types of projects undertaken rangefrom direct assessment of energycosts and installation of energyefficient devices and smartmetering, to review of operationalaspects – such as the duration andtime of operation and equipment.

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11 Appendices

National Parks and Wildlife In the period July 2002 to June2003, SOPA managed two licencesissued by National Parks andWildlife Service (NPWS) under theThreatened Species Act 1995 for themanagement of the Green andGolden Bell Frog (Litoria aurea).A third NPWS licence was issued toSOPA in 2003 to allowenvironmental eduction activitiesto take place within the NarawangWetlands, which forms part of theGreen and Golden Bell Frog habitatarea. All National Parks and WildlifeService licence conditions werecomplied with during 2002-03.

NSW FisheriesSOPA currently holds three NSWFisheries permits, which allows theremoval of some mangroves.Mangrove removal has beenrequired during certain constructionworks and as a method forprotecting saltmarsh.

All licence conditions have beencomplied with during 2002-03.

Environment Protection AuthoritySOPA currently holds twoEnvironment Protection Licencesissued under the Protection of theEnvironment Operations Act 1997.These licences are for the operationof the Water Reclamation andManagement Scheme (WRAMS) andthe Wilson Park bioremediation ponds.

SOPA has held an NSW EnvironmentProtection Authority (EPA) licenceunder the EnvironmentallyHazardous Chemicals Act 1985 (EHCAct) since 1999 for on-sitetreatment of approximately 400tonnes of soil containing scheduledchemical waste. The scheduledchemical waste treatment programwas completed in May 2003 and theEHC licence was surrendered to theEPA on 20 June 2003 (refer CaseStudy: Scheduled Chemical waste).

No instances of non-compliancewith SOPA’s EPA licences wereidentified during 2002-03.

Environmental damage in the Parklands• On 12 December 2002, a large

number of dead fish were found inthe Bird Refuge area ofBicentennial Park. The EPA andNSW Fisheries were advised andinvestigations revealed that thefish kill occurred as a result ofdecomposed organic matter,which reduced oxygen levels inthe water.

• On 7 May 2003, an illegal dumpingincident occurred near WentworthCommon in the Parklands. SOPARangers discovered a largequantity of cement slurry that hadbeen illegally discharged. The EPAinvestigated the incident but wasunable to identify the peopleresponsible.

Since this incident, SOPA’s securitypersonnel have been made moreaware of the potential for illegaldumping incidents and additionalsecurity cameras have beeninstalled within parkland areas.

Complaints• SOPA was advised of noise

complaints in relation to eventsheld at Sydney Olympic Park.

• SOPA received two complaintsregarding odours emanating from the mangrove forest andsurrounding wetlands withinSydney Olympic Park. The odourswere related to algal bloomscaused by elevated nutrient levelsand high ambient temperatures.SOPA is investigating potentiallong-term solutions to prevent theoccurrence of algal blooms.

70

Environmental Compliance Government Energy Management Policy

73

11 Appendices

NSW Government Contract 777The NSW Government Contract 777Retail Supply of Electricity (777) wasestablished in 1998 to assist theNSW Government agencies tomaximise the economic benefitavailable due to the progressivederegulation of the electricitymarket.

SOPA currently has 28 accountsunder 777, representing 77% of ourtotal energy consumption. Productson the 777 contract include supplyto high and low consumptionfacilities, traffic lights and streetlighting.

While 777 rates are highlycompetitive, SOPA understands thatrecent contract negotiations in theopen market by other Governmentagencies have achieved a morecompetitive result. For example,savings on SOPA’s street lightingaccounts are estimated at 18% on amore contestable contract rate.These accounts are currentlyineligible for the 777 street lightingrate due to the presence ofmetering and the use of thesophisticated C-BUS control systemto manage operation.

It is recommended that SOPAcontinue discussions with EnergyAustralia to obtain the contract rateor a similarly competitive rate undera separate contract. Over themedium term, it is recommendedthat SOPA investigate the benefitsavailable in tendering electricitysupply in the open market.

Cogeneration Feasibility StudySOPA has recently signed aMemorandum of Understandingwith the Sustainable EnergyDevelopment Authority (SEDA) toevaluate cogeneration opportunitiesat the Sydney International AquaticCentre. SEDA will fund a feasibilitystudy that will examine existingcosts and energy consumption aswell as existing infrastructure andoperations.

As the cost of implementingcogeneration technology can be high, the study will recommend a range of options that SOPA mayevaluate according to cost savings,environmental benefits andbudgetary constraints. Theacquisition of a new cogenerationplant should be considered as partof the Strategic Asset ManagementPlan.

Water Features OperationalReviewThe central and northern waterfeatures at Sydney Olympic Parkcurrently operate between 8:00amand 8:00pm daily, except on majorevent days when their operatinghours are extended. It is possible toreduce these operating times,especially in winter. For example, itis possible to save $215 per monthon operating costs for the northernwater feature by reducing itsoperating times by one hour perday. This represents a saving ofapproximately 2.25 tonnes of carbondioxide each month.

The results of our analysis of arange of energy-saving options aresummarised below.

72

Operating time Monthly saving Annual saving CO2 saved Cars saved per annum per annum

$ $ $ tonnes

8am to 7pm daily $216.97 $ 2,603.64 27 6

8am to 6pm daily $433.93 $ 5,207.16 54 12

8am to 5pm daily $856.66 $ 10,279.92 99 22

10am to 4pm weekdaysand 9am to 5pm daily $1,161.60 $ 13,939.20 135 30

Energy Saving Options

The Department of Ageing, Disabilityand Home Care requires allGovernment Agencies to prepare aDisability Action Plan that meetsrequirements of Section 9 of theDisability Services Act 1993.A Disability Action Plan has thereforebeen prepared by SOPA’s SustainabilityUnit for period 2002 – 05. TheSustainability Unit will also coordinatethe Disability Action Plan’s promotion,dissemination, evaluation, monitoringand measurement.Within this Disability Action Plan arePriority Areas for SOPA’s individualfunctional areas, providing SOPA withthe opportunity to measure andrecord achievements whiledemonstrating our ongoingcommitment to equity and access in

all respects of service provision.SOPA is steadily working through thevarious areas requiring priorityactions. The following actions havebeen implemented to date:• completion of the Sydney Olympic

Park Access Guidelines• completion of the Access Strategy

for the Parklands• completion of the 2002

Shelter Study• commencement of a People

Movement Strategy• commencement of a draft Policy

for complaints procedures• upgrading of the Achieving

Access website• provision of Disability Awareness

training to staff• ongoing convening of the Access

Advisory Committee• ongoing implementation of the

Human Resources Policy requiringthe mainstreaming of employmentwith people with disabilities

• ongoing Access Audits andRectification Programs of the naturaland built environment.

Table 1: Percent of total staff by levelTable 2: Percent of total staff by

employment basis

Disability Action Plan

Parliamentary Annual Report Tables

A. Representation of EEO Groups

B. Trends in the Distribution of EEO Groups

EEO Group Benchmark or Target 2000 2001 2002 2003

Women 50% 47% 50%Aboriginal People and Torres Strait Islanders 2% 0% 0%People whose first language was not English 20% 10% 9%People with a disability 12% 2% 0%People with a disability requiring work related adjustment 7% 1.7% 0%

EEO Group Benchmark or Target 2000 2001 2002 2003

Women 100 81 82Aboriginal People and Torres Strait Islanders 100 N/A 0People whose first language was not English 100 N/A N/APeople with a disability 100 N/A 0People with a disability requiring work related adjustment 100 N/A 0

Notes:1. Staff numbers are as at 30 June.2. Excludes casual Staff3. A Distribution Index of 100 indicates that the centre of the distribution of the EEO group across salary leves is equivalent to that of other staff. Values less

than 100 mean that the EEO group tends to be more concentrated at lower salary levels than is the case for other staff. The more pronounced this tendencyis the lower the index will be. In some cases the index may be more than 100, indicating that the EEO group is less concentrated at lower salary levels. TheDistribution Index is automatically calculated by the software provided by ODEOPE.

4. The Distribution Index is not calculated where EEO group or non-EEO group numbers are less than 20.

Equal Employment Opportunityachievements included:

• liaison and consultation withdisability groups and representativeson access issues

• provision of disability awarenesstraining for SOPA staff as a strategyunder the Disability Action Plan

• access audit commissioned for thesite and rectifications implemented

• access guidelines covering futuredevelopments on site produced

• SOPA worked closely with theAboriginal Community to deliverSydney Dreaming, an event held atSydney Olympic Park in November2002 to celebrate indigenous cultureand dance – with a similar eventplanned for December 2003

• SOPA commissioned an Aboriginalhistory research project for the

Parklands, to inform aspects ofParklands educational and tourprograms

• modifications were made to thework area and building amenities toassist a new staff member

• various committees wereestablished with EEO grouprepresentation

• flexible working arrangements wereapproved, including part-time work

• literature and posters were displayedto promote diversity, access andequity issues.

Initiatives for 2003-04 include:

• Equity considerations to beaddressed in implementation ofPerformance Management,including investigation of optionsfor the recognition and reward ofsuperior performance.

• development of exit questionnairewill provide staff with theopportunity to provide feedback on a range of organisational issuesincluding equity, career progression,communication, etc

• Employee Self Service rollout toensure that all staff are able toaccess personal information in asecure and private manner

• review of Corporate policies toincorporate consideration of equityprinciples

• salary packaging for staff belowSES/Senior officer level to beintroduced in a fair and equitablemanner.

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11 Appendices

Venues Sporting venues at Sydney OlympicPark owned by SOPA include the:

Sydney Olympic Park Aquatic Centre

Sydney Olympic Park Athletic Centre

Sydney Olympic Park Sports Centre(formerly the State Sports Centre)

Sydney Olympic Park Hockey Centre

Sydney Olympic Park Sports Halls.

The NSW Government handedfinancial responsibility of the AquaticCentre and Athletics Centre to SOPAcommencing 1 July 2003.

Sydney Olympic Park Aquatic Centrehas been reconfigured to combinesporting and leisure activities. It is themost visited sporting facility in NewSouth Wales – attracting one millionvisitors a year – and a national secondto the Melbourne Cricket Ground. TheCentre will host the 2004 and 2005National Swimming Championships.

Sydney Olympic Park Athletics Centrehosts amateur and professionalathletics events and training sessions,and will host the 2004 and 2005National Athletics Championships.

Sydney International Archery Parkis home to both amateur andprofessional archery groups andcompetitions, with Archery NSW usingthe Park for much of its activity.

The Sports Centre, Hockey Centre andSports Halls are managed and operatedby the State Sports Centre Trust.

State Sports Centre TrustThe State Sports Centre Trust wasestablished in 1984 to manage andoperate the State Sports Centre – builtby State and Federal Governmentsthat year to help Australia develop itssporting performance after the 1976Montreal Olympics.

Ownership of Trust property wastransferred to SOPA in July 2001, andthe Trust, as appointed operator, nowworks closely with SOPA to continueto promote and support sport at alllevels at Sydney Olympic Park and toattract a wide range of events to theprecinct, including state, national andinternational sporting events,business events, leisure events,exhibitions and concerts.

Sydney Olympic Park Sports Centre isthe third largest arena of its kind inSydney, supports 60 sports and canseat 500 to 5000 people for businessevents, sporting events, exhibitionsand concerts.

Sydney Olympic Park Hockey Centre isused every day after 5:00pm andevery weekend for a variety of hockeycompetitions and training as well asGridiron games.

Sydney Olympic Park Sports Halls area legacy of the Sydney 2000 Olympicand Paralympic Games and operate asa training venue for the Olympicsports of badminton, judo, fencing,handball, table tennis, volleyball andwrestling.

Other Major Venues Telstra Stadium has been reconfiguredsince the 2000 Olympics to becomeone of the world’s most versatilestadiums, hosting a variety of codesfor up to 83,500 people – and doubledits business tourism activity in the2002-03 financial year.

Sydney SuperDome hosts a range ofsporting events and concerts, recentlyhosting a world-record breakingcrowd for netball, a conference for15,000 people per day, and the ARIAmusic awards.

Sydney International Tennis Centrehosts the Adidas International eachyear, as the second largest tennistournament in Australia, and hostedthe Davis Cup in 2003. The TennisCentre is also a venue for businessand entertainment events.

Sydney Showground is home to theSydney Royal Easter Show, the largestevent in the southern hemisphere,and is building strength in theexhibitions market – hosting productlaunches and increasing its meetingsand conference business by 115% in2002-03.

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Equal Employment Opportunity

SOPA attaches high priority to thepromotion of cultural diversity. Ourachievements and initiatives in thisarea during 2002-03 were:

• SOPA and Auburn Council werejointly awarded the Best CulturalEvent prize in the Australia Day LocalCommunity category of 2003 LocalGovernment Awards for celebrationsin Bicentennial Park

• facilitated increased communityawareness and involvement in eventsat Sydney Olympic Park by workingclosely with a communicationsorganisation that specialises inethnic communications – outcomesincluded a community event thatshowcased Sri Lankan food andculture and was attended by theSri Lankan National Cricket Team

• consulted the community on theParklands Plan of Management –facilitated through Auburn Councilwho represent a high proportion of

residents from non-English speakingbackgrounds

• conducted community familiarityprograms centred around theParklands to increase awareness andencourage greater use of ourfacilities

• worked with the ethnic media onawareness campaigns to ensure allmembers of the community haveaccess of information on SydneyOlympic Park

• provided information facilities at theAuburn Festival and the NewingtonStreet Fair to ensure localcommunities had access toinformation and material on SydneyOlympic Park offerings

• an ethnic communitiesrepresentative is included on theParklands’ Advisory Committee.

• SOPA’s workforce reflects the generaldiversity within the community.

Initiatives for 2003-04 include:• a number of events will be branded

with an ethnic community theme –Indian, Chinese, Turkish, Arabic,Italian and Korean communities willbe included in these events

• Customer Service training for staffwill include a multi-culturalawareness component

• continued engagement of the localand ethnic community and use ofthe ethnic media

• participation in the Auburn StreetFestival which features ethniccultural performances and exhibits

• staging of an Australia Day 2004event in partnership with AuburnCouncil.

Ethnic Affairs Priority Statement

77

11 Appendices

For the period 1 July 2002 to 30 June2003, SOPA received two requestsunder the Freedom of Information Act1992 (FOI Act). These requests were:

1 August 2002The applicant sought access to a range of documents of a formerOlympic agency and documentsrelating to an alleged injury duringthe 2000 Olympic Games. Theapplication was suspended at therequest of the applicant.

27 February 2002The applicant sought access to video footage from closed circuitsurveillance cameras. Adviceregarding this matter is being soughtfrom the Crown Solicitor’s Office.

In the preceding year of 2001-02, asingle FOI application was received bySOPA. There were no requests forInternal Reviews during 2002-03.

Applications under the FOI Act mustbe in writing and accompanied by anapplication fee of $30. Enquiries andapplications should be referred to:

Senior ManagerExecutive ServicesSydney Olympic Park Authority7 Figtree DriveSYDNEY OLYMPIC PARK NSW 2127Telephone: 02 9714 7353Facsimile: 02 9714 7495

Industrial RelationsThere were no industrial disputesduring 2002-03.

SOPA maintains a positive relationshipand open communication channelswith the Public Service Association(PSA). Arrangements were agreed withthe PSA to cover a seven-day cycle androstered shift arrangements duringthe 2003 Easter Show. Thesearrangements provided SOPA with therequired flexibility to meet theextraordinary demands of the EasterShow period and ensured that staffwere appropriately compensated forthese changed arrangements.

Consultation was undertaken withthe PSA in relation to workingarrangements for staff during theperiod of the World TradeOrganisation (WTO) Meeting inNovember 2002. The NSW PoliceService took over operational controlof the precinct surrounding the WTOmeeting place, and special workingarrangements were put in place toensure the safety of staff.

SOPA also consulted with the PSA ondevelopment and implementation ofthe Performance ManagementSystem. Suggestions from the PSAwere incorporated into SOPA’sPerformance Management Systemdocument.

NSW Action Plan for WomenThe following actions have been takenin relation to the objectives under theAction Plan for Women:

• Four out of the five staff seekingfinancial assistance and who wereprovided with financial assistancefor tertiary study, were women.

• Two of the three SOPA-sponsoredplaces on the 2003 Public SectorExecutive Development Programhave been taken up by women.

• A work placement opportunitycourse provided under the NSW TAFECareer Education and Employmentfor Women, aims to provide womenwith training and practicalexperience to assist their re-entryinto the workforce, if they have beenout of the workforce for some time.

• Five young women accompanied theSOPA Chief Executive Officer to the“CEO and Young ProfessionalsBreakfast 2003” hosted by theInstitute of Public AdministrationAustralia (IPAA), in conjunction withthe IPAA NSW State Conference. Thetheme of the breakfast event wasConnecting Future Leaders withCurrent Leaders.

• SOPA sponsored a staff member to attend the Ninth CommonwealthStudy Conference.

• Continued representation of womenon major committees and workinggroups.

• A female tertiary student was placedin a traditionally male dominatedprofession at SOPA, under a studentemployment program, as a strategyfor improving training opportunitiesfor women.

Occupational Healthand SafetyNo serious injuries were recordedduring the year. A small number of minor injury and travel claimsinvolving minimal loss of time were recorded.SOPA's first OHS Committee was established in 2002 and metbi-monthly during the year. A numberof minor issues were addressed by the Committee.A high-level OHS Management andCoordination Group was establishedto oversee and monitor thedevelopment and implementation of policies and procedures for themanagement of SOPA's OHSobligations.SOPA commissioned an independentsafety audit of its office premises andcommenced implementation ofrecommendations.The advice of HealthQuest(Governement Medical Officer) wassought In relation to a vaccination andscreening program for jobclassifications with inherent healthand safety risks. A report Is to beprepared by HealthQuest that willinform the basis for SOPA'spreventative and monitoring program.Broad-brimmed sun protection hatsand high-protection sunscreen weremade available to all staff to providemaximum protection when movingabout the Sydney Olympic Park sitefor work-related or leisure purposes.Regular emergency training wasprovided to staff.

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Freedom of Information

Consultant Expenses

Consultant expenses over $30,000 are listed below, together with the description of their service.

Consultant Total Cost Description of ServiceCalais Consultants 39,725.00 Visitor Information Strategy ReportHassell Pty Ltd 44,950.00 Public Domain StrategyHill Thalis Architect 51,685.83 Urban Planning AdviceJane Irwin Landscape Architect 51,685.83 Urban Planning AdviceRootProjects Australia Pty Ltd 35,855.81 Business Tourism Research ProjectStrategies & Solutions Group Pty Ltd 71,982.51 IT & Communication AdviceTony Caro Architecture 51,685.83 Urban Planning AdviceDroit Pty Ltd 61,986.00 Management & Design AdviceLandsbury's International Pty Ltd 42,500.00 Project Realisation AdviceMichael Collins & Associates 30,315.00 Commercial Property Advice

TOTAL Consultants over $30,000 482,371.81TOTAL 68 Consultants under $30,000 529,911.32TOTAL CONSULTANTS 1,012,283.13

Overseas Travel – 1 July 2002 to 30 June 2003

Officer Functional Area Places visited Dates of Visit Main Purpose of Visit

Geoff Buckley Marketing Hong Kong, China 4 – 8 November 2002 Tourism Trade Mission& Corporate Communications

Simone Middleton Marketing Hong Kong, China 30 October – Tourism Trade Mission& Corporate 8 November 2002

Communications

Jim Stone Property New Zealand 18, 19 February 2002 Investigation of re-use of existing structure for Visitor’s Centre

Helen Lochhead Planning New Zealand 18, 19 February 2002 Investigation of re-use of & Urban Design existing structure for

Visitor’s Centre

Mark Stewart Business Lausanne, 22 – 28 April 2002 Meeting with FINA Development Switzerland regarding the

World Swimming Championships

Wetlands ResearchCompleted Research Cost

Tidal flow study in mangroves 16,000.00

Hydrological studies in degrading wetlands 30,000.00

Telemetered tidal data gathering and analysis 20,000.00

Albino mangrove research 7,000.00

Toxic blue-green algae monitoring and control 24,000.00

Effects of drought on wetlands 11,000.00

Odour problem investigation and analysis in degrading wetlands 7,600.00

TOTAL RESEARCH COSTS 115,600.00

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Research and Development

Costs for SOPA’s scientific research and model development projects and Aboriginal History and Connections Programare as follows:

Scientific ResearchCompleted Research Cost

Three-year toxicity monitoring of leachate (costs listed for 2002-03) 250,000.00

Freshwater sediment research and baseline monitoring 70,000.00

Sediment movement and model development under various climate scenarios 33,000.00

Review of risk assessment work 15,000.00

Expert review 3,500.00

Ongoing research

PhD studies on saltmarsh, mangrove algae as bioindicators of pollution,

endocrine active compounds in sediment 40,000.00

TOTAL RESEARCH COSTS 411,500.00

SOPA’s Aboriginal History and Connections Program incurred costs of $53,445 during 2002-03 for the following activities:establishing and maintaining "Connections Network"; archeological site surveys in Wanngal Woodland; publication ofquarterly newsletter; ongoing archival and primary source document research and oral history sourcing and recording.The Program is ongoing and the 2003-04 budget is $88,300.

Aboriginal History and Connections Program

11 Appendices

During 2002-03, SOPA conducted research into customer understanding and product and business development, as well asresearch into and how to best position and develop Sydney Olympic Park’s offerings. Total costs of marketing research anddevelopment during the year was $764,363 as follows:

Customer Understanding Research

Events development and customer satisfaction research 43,131

Visitor experience non-events satisfaction and product development 162,107

Business events positioning and market understanding 35,855

Sydney Olympic Park precinct workers demographic and attitudinal survey 8,038

Annual benchmark and positioning research 249,131

Product and Business Development Research

Naming sports venues 23,000

Sports City Project Preliminary Business Concept 14,612

Arts & Cultural Strategic Plan 83,208

Food Experience development research 65,500

New Visitor Gateway Centre Development research 119,315

Ongoing visitor count research – Parklands and urban core 174,097

TOTAL MARKETING RESEARCH 764,363

Marketing Research and Develoment

In accordance with the PrivacyInformation Protection Act 1998, SOPAhas developed a Privacy ManagementPlan and has submitted this Plan toPrivacy NSW.The Privacy Management Plan sets outthe core business and functions of SOPA and refers to informationprotection principles and proceduresfor internal review. It also includes a table that documents SOPA’sprocesses for handling personalinformation.No applications for review werereceived during 2002-03.

Privacy Management

The Protected Disclosures Act offersprotection to public officials who makedisclosures concerning corrupt conduct,maladministration and serious orsubstantial waste of public money.Within SOPA, disclosures can be made to:• The Chief Executive Officer• Executive Director, Corporate Services• The officer’s supervisor.No disclosures were reported duringthe year.

Protected Disclosures

Credit card use within SOPA has been inaccordance with Premier's Memorandaand Treasurer's Directions.

Credit Card Certification

ParklandsA range of information sheets areproduced to support the Parklandsprograms. These include flyerssupporting Bird Week, Walks & Talksan annual publication aimed at BirdClub members, plus a variety of factsheets on a range of educationaltopics:

• WRAMs for visitors, tours andconference attendees

• Mosquito Fact Sheet for localresidents

• Natural History IllustrationWorkshop for schools and specialinterest groups

CorporateA range of publications are producedto meet our corporate obligations andto communicate the plans and visionfor Sydney Olympic Park. Theseinclude:

• Annual Report is produced in hardcopy format and on the SOPA website

• Corporate brochure outlining thevision for SOPA is used as a supportto investors, developers and otherpartners

• Corporate Plan articulating thestrategies and actions required toachieve the corporate visiondistributed to staff and on-sitestakeholders

• Sustainability Strategy provides acorporate framework for sustain-ability, is distributed to Government,EPA and environmental groups

• State of Environment report is astatutory requirement, and availableon the SOPA website and distributedto all Government andenvironmental agencies

In addition to the above there is asignificant requirement to maintainand update signage on site and acrossthe venues, to ensure that thecorporate brand is conveyedprofessionally and accurately.

Consumer FeedbackIn early 2003, SOPA established anadditional customer feedbackmechanism via email through itsnewly redeveloped website. Thisadded to the traditional telephoneand letter response mechanism, withsome twenty responses received inthe six months from January toJuly 2003.

All feedback, whether a comment,idea or complaint, is aimed to beresponded to within seven days.Much of the feedback received during2002-03 was in the nature ofconstructive feedback for improvementof Sydney Olympic Park, such as adviceon damaged or broken facilities,improvements to the website, etc.

The primary area of complaint was inthe area of carparking (regardinginfringement notices, etc) or trafficmanagement issues, with a smallnumber of infrequent complaints on abroad range of issues from noise fromevents to mosquito problems for thesurrounding residential areas.

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11 Appendices

80

Payment Performance Indicators

Trade Creditors Aged Analysis at the end of each quarter

Trade Creditors Accounts paid on time within each quarter

Quarter Ended Current Less than Between Between More than(within due date) 30 days overdue 30 & 60 days 60 & 90 days 90 days overdue

overdue overdue$ $ $ $ $

At 30 September 2002 203,287 510,370 82,884 77,312 20,568

At 31 December 2002 228,450 8,371 62,147 14,154 (175)

At 31 March 2003 162,469 319,090 166,547 2,426 6,704

At 30 June 2003 42,799 140,348 3,686 (909) 2,063

Quarter Ended Accounts Paid Accounts Paid Amount Paid Total Amount Paidon Time on Time on TimeTarget% Actual% $’000 $’000

At 30 September 2002 95 62 14,506 23,508

At 31 December 2002 95 61 11,659 19,235

At 31 March 2003 95 56 13,467 24,075

At 30 June 2003 95 60 29,877 49,854

SOPA implemented a major GST compliance program during the financial year. A number of invoices received did not meet the ATO’srequirements of a Tax Invoice and were consequently returned to suppliers for correction.

There were a number of circumstances where SOPA officers were not satisfied with goods and services provided by suppliers which resultedin either adjustments to invoices or deferred payment.

Some officers of SOPA had not followed purchasing procedures which resulted in delays in the payment process.

No suppliers requested or were reasonably entitled to penalty interest charges during the financial year.

PublicationsSOPA produces a range of publicationsand material to communicate with itsdiverse audiences.

Sydney Leisure MarketOur busy leisure activity and eventcalendar is promoted through aweekly ‘What’s On’ advertisingcampaign in the major metropolitan,suburban and ethnic Sydney papersand key Sydney AM and FM stations.This campaign is further supported bybrochures and posters distributed toconsumers, venues, targeted mediacontacts and key tourism outlets.

The website was rebuilt during2002-03 and now provides acomprehensive source of informationfor all visitors to the site, from thoseseeking to find out more on events

and activities to those seekinginformation on businessopportunities.

Specific event flyers are also producedto support Sydney Olympic Parkevents such as ‘Alive’, designed toembrace the memories of the Sydney2000 games, Boulevard Markets,Movies in the Overflow, etc.

Leisure TourismA leisure tourism publication branded‘Must See’ is produced annually anddistributed to retailers andwholesalers through Tourism Sydneyand Tourism NSW.

Advertising promoting specific SydneyOlympic Park activities and events isplaced in a range of Tourism Sydney,Tourism NSW and Tourism Taskforcepublications.

Business EventsSOPA works closely with the venues atSydney Olympic Park to cooperativelymarket the site as a destination forbusiness events.

A business events brochure detailingthe range of venues, space andconfigurations available for on-sitefunctions, meetings, exhibitions andconferences is produced annually. Thisis supported by a Corporate Leisure &Team Building brochure, which detailsthe leisure and incentive activitiesavailable on site. Both of thesebrochures are distributed to PCO’s,corporates and other qualifiedbookers of event space.

SES Level Males at 30 June 2003 Females at 30 June 2003 Vacant as at 30 June 2003

Level 7 1 - -

Level 5 2 - -

Level 4 1 - -

Level 3 - - 1

Total 4 - 1

SES Staffing Profile

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11 Appendices

82

Mr Brian NewmanChief Executive OfficerChief Executive Service, Level 7

Period in Position: Full Year

The Minister and Chairman reportedthat Mr Newman performed to a highlevel in 2002-2003.

Mr Newman developed theorganisation’s first comprehensiveCorporate Plan to formalise SOPA’svision, mission, corporate objectivesand key strategies and to guide SOPA’sbusiness over the next 5-7 years. TheCorporate Plan’s economicdevelopment strategy is designed togenerate long-term revenueopportunities and leverage SydneyOlympic Park’s competitive advantagearound six key themes in science &technology, education, sport,environment, health, leisure &wellbeing and culture, the arts &entertainment.

The implementation of thesestrategies commenced during theyear, with significant progress made inestablishing Sydney Olympic Park asthe hub of the sports industry andAustralia’s premier sports destination.The establishment of an EducationReference Panel was a significant stepin establishing formal links for theinvestigation of education relatedbusiness opportunities.

Development of the Corporate Plan was complemented by theimplementation of a strong newcorporate identity and brand, toreposition and enhance the marketpositioning and image of SydneyOlympic Park.

A central element of SOPA’s futureplanning was the development of theconceptual framework for SOPA’splacemaking objectives, SOPA’sFounding Principles of Place Making –Shaping the Future of a Town.

Mr Newman also oversaw processesrelating to the sale and long-termlease of three residential sites and onecommercial development site atSydney Olympic Park. Thisdevelopment will generate $470M ofprivate sector investment and yieldthe Government $72M of value in cashand in-kind benefits.

As SOPA is a young organisation, itsstructure continued to evolve duringthe year. Mr Newman appointed fournew Executive Directors and oversawthe appointment of 13 senior staff.

Increased visitation levels wereachieved for Sydney Olympic Parkthrough a combination of initiativesinvolving community engagement,increased product offerings and moreeffective marketing andcommunication programs.

SOPA’s sustainability agenda – with afocus on social, economic, andenvironmental sustainability – wasprogressed, as was implementation ofthe Parklands Plan of Managementand the Parklands 2020 vision.

Mr Newman also continued toconsolidate and strengthen businessand working relationships with venueoperators, and other Sydney OlympicPark stakeholders, and with theSydney Olympic Park BusinessAssociation.

Mr Terry Martin

Executive Director, PropertySenior Executive Service, Level 5

Period in Position:29 July 2002 to 30 June 2003

The Chief Executive Officer reportedthat Mr Martin performed to a highlevel in 2002-2003.

Mr Martin led the tender evaluationand negotiation processes for theawarding of major development

contracts valued at $470 million forresidential and commercial/retaildevelopments in the town centre.These landmark developments willfundamentally alter the character andlandscape of Sydney Olympic Park.They represent the beginning of amajor urban redevelopment programat Sydney Olympic Park, that willunderpin its transformation into avibrant urban centre.

The residential developments will takethe form of three towers and include746 units, 1100 car spaces and 1,340 m2retail development. The 50,000m2commercial/retail development willtake the form of three six-storybuildings, including 5500m2 retaildevelopment and 746 car parkingspaces.

In principle agreement was alsoreached for the development of SportsHouse – a six-storey, $35 millionproject comprising 12,000m2 of space.Sports House will become a model forsports administration in NSW throughthe co-tenancy of leading professionaland amateur sports bodies, includingNSW Department of Sport andRecreation and NSW Institute ofSport.

The capital works program of $26million was delivered on time and onbudget. Significant projects includedthe installation of the Gamescommemorative poles and GamesMemories projects, the final phase ofTelstra Stadium works construction,wayfinding and arterial signage, andParklands enhancements.

The treatment of scheduled chemicalwaste on remediated land wascompleted and validated. The projectused pioneering environmentaltechnology and was supported byenvironmental groups. Prior to thedevelopment of this technology,highly contaminated materials werestored in secure warehouses.

CES/SES Performance Statements

A detailed review of the procurementof car parking management resultedin the award of a new contract thatemphasised performance-basedmanagement. The new managementcontract resulted in greaterefficiencies in operationalmanagement and enhanced revenues.

Refined contract procurementmethodologies were also adopted inrelation to asset management. Thesemethodologies resulted in a reductionin standing costs and an increase inthe quality of the performance ofservice contracts.

SOPA built on our best practice waterreclamation and management systemby entering into an agreement withSydney Water for the sharing oftechnology and intellectual propertyin relation to water usage andmanagement.

Mr Martin initiated SOPA’s Vision 2025program. His area also initiated andproduced SOPA’s first ‘new brand’presentation material, Presentor, toassist in the promotion of SOPA’sstrategic development opportunities.

Mr Geoff Buckley

Executive Director, Marketing andCorporate CommunicationsSenior Executive Service, Level 5

Period in Position:5 August 2002 to 30 June 2003

The Chief Executive Officer reportedthat Mr Buckley performed to a highlevel in 2002-2003.

Mr Buckley led the development ofthe Sydney Olympic Park brandstrategy and brand positioning. Heoversaw the brand audit and thecommencement of brandimplementation. Over time, brandingwill be critical in increasing awareness

and recognition of Sydney OlympicPark, and in establishing a sense ofplace and a set of values that areattributable to the place. SOPA alsoworked closely with the venues withinSydney Olympic Park to strengthenthe overall Sydney Olympic Park brandand to maximise its potential.

A range of corporate brochures,promotional material and collateralwas produced during the year. A majorenhancement of the website was alsoundertaken.

Mr Buckley oversaw SOPA’s initialEvent Strategy that established astrategic basis for the assessment anddevelopment of events at SydneyOlympic Park and the role SOPA takesin the staging, promotion and supportof events.

A number of events were successfullystaged by SOPA through theMarketing and CorporateCommunications team during theyear. These included: SydneyDreaming, a celebration of indigenousculture, food and dance; Alive,commemorating the anniversary ofthe Sydney Olympic Games; Carols bythe Cauldron; Boulevard Markets;Movies in the Park; and Would you likeMusic with That?

A major upgrade of leisure tourismproducts was undertaken includingthe Explorer bus tour and the GamesTrail. A joint marketing program wasagreed with Tourism Sydney to targetdomestic and international leisuretourists. Planning was finalised for therelocation and reinvigoration of theVisitor’s Centre to provide moreeffective and efficient visitor servicing.

SOPA established a business eventssales role and assisted with thecoordination of business events acrossthe site. This allowed for a single pointof contact for organisations interestedin staging a business event at Sydney

Olympic Park. As a result, SydneyOlympic Park doubled attendance atbusiness events.

Mr Buckley’s position is alsoresponsible for overseeing siteoperations. Operational plans havebeen developed for the Rugby WorldCup following close liaison with theAustralian Rugby Union and the MajorEvents Unit within Premier’sDepartment. SOPA also worked closelywith the NSW Police Service andbusinesses on site for the successfulstaging of the high security WorldTrade Organisation Meeting inNovember 2002.

The Ranger Security Services contractfor Sydney Olympic Park was tenderedand awarded during the year. Thecontract provides for 24-hoursurveillance and monitoring of the site and for the enforcementof parking and other regulationswithin Sydney Olympic Park.

Smooth implementation of the Visitor Services contract was also achievedduring the year.

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11 Appendices

Cover Photo Captions

FRONT COVER L-RJane SpringSenior Manager, Executive ServicesCorporate ServicesLuke SaffingaSenior Park RangerPlace ManagementJudy HarringtonInterpretive Ranger / GuidePlace ManagementDanielle HoareBusiness Events CoordinatorMarketing & Corporate CommunicationsRobert LeeceHerb ElliottPenelope FiggisBoard MembersSydney Olympic Park AuthorityMark StewartExecutive DirectorBusiness Development

Design Neon CreativePhotography Tommy Morris, John BarrettPrinter Fast Proof Press

BACK COVER L-RMichael ThompsonAdministrative Support OfficerCorporate Services

Maria FerlitoExecutive Assistant to David GrantParklands PlacemakingTony NesbittManager, Events & Programs DevelopmentParklands PlacemakingJulie MeilikData CatalogeurParklands PlacemakingCarol GiuseppiDirector, CommunicationsMarketing & Corporate CommunicationsNick HubbleExecutive DirectorFinancial Services

Contact Details

Sydney Olympic Park Authority7 Figtree Drive, Sydney Olympic Park New South Wales 2127Telephone: 02 97 14 73 00Facsimile: 02 97 14 78 18Email: [email protected] office hours are 8.00am to 5.30pm, Monday to Friday.

sydney olympic park authorityannual report 2002/03 · as sopa continues to work closely with...

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