CANBERRA CONVENTION BUREAU. Annual Report

Transcription

1 CC B CANBERRA CONVENTION BUREAU Annual Report

2 1. Our Values & Vision OUR VISION For Canberra to be recognised as a leading business events destination shaped by its competitive advantages. OUR MISSION As the key business events marketing body, the CCB is committed to increasing meetings, incentives, conventions and exhibition activity for the economic benefit of Canberra and our key stakeholders. OUR VALUES Innovation: We will develop innovative and highly targeted cooperative industry programs that will generate measurable returns for the destination and our members. Client Needs: We are committed and responsive to understanding the needs and expectations of our clients through a culture of continuous improvement. Professionalism: We assure our stakeholders that we will work in an ethical manner to achieve excellence for Canberra s reputation as a business events destination. 1

3 Table of Contents 1. OUR VALUES / VISION 1 PAGE 2. FROM THE CHAIRMAN & CEO 3 3. OVERVIEW OF RESULTS 4 4. KEY RESULT AREA ONE 5 Promote Canberra Business Development and Results Promotional Activity Highlights 5. KEY RESULT AREA TWO 13 Providing Quality Service to Our Clients Highlights from Top Secret 2003 Survey Highlights from Member Satisfaction Survey 6. KEY RESULT AREA THREE 16 Provide Good Business Management 7. KEY RESULT AREA FOUR 19 Provide Industry Leadership 8. FINANCIAL REPORT 21 Summary and Explanatory Notes /2004 LIST OF MEMBERS CCB PLATINUM MEMBERS 39 2

4 2. Letter from the Chairman & the CEO This has been a challenging year for the Business Events sector. New competition in the form of new convention centre developments, due to open this year, has impacted on some of the increased market demand. Canberra s planned infrastructure upgrade and expansion will make our city more competitive and will be highly complementary to our competitive strengths. However, because a time scale and scope of work is not known, it has become increasingly difficult to secure longer term bookings. Another challenge this year has been skills shortages in our industry particularly in business development roles. The Bureau was unable to fill key business development and marketing vacancies until mid Budget savings on salaries, however, was used wisely in creating new program initiatives specifically the new Canberra Showcase program in Sydney and Melbourne. This highly creative program was instrumental in communicating Canberra s strengths to meeting planners who are yet to confirm Canberra as their meeting destination. Despite the challenges, the CCB team generated $25.1m worth of business events to our city and members equating to 177 events and 30,662 delegates. The CCB handled more than 387 potential event opportunities with some of these still pending a decision as of 30 June. While the result was just short of our target, the performance was arguably very good considering the challenges and market conditions. The CCB performed well in all of its key results areas as outlined in this report. The Bureau played a key role in supporting the upgrade and expansion program at the National Convention Centre. The recent staff restructure has been welcomed by industry with greater resources and focus on direct selling activities in key markets such as Sydney and Melbourne. In the CCB will be launching its strategic three year plan that will capitalise on the ACT Government s $40million investment in our city s convention infrastructure and the new Canberra branding campaign. These investments will enable the CCB to capture new markets such as the corporate meetings sector and, together with support from industry partners, will help to grow market share for Canberra and contribute a greater impact on the ACT economy. We would like to take this opportunity to thank members of the board for their contribution throughout the year on a range of policy issues and to industry partners who supported a range of innovative and effective destination marketing programs. And, to the staff at the CCB for their passion, creativity and dedication. James Grigg CHAIRMAN Dee McGrath CHIEF EXECUTIVE 3

5 3. Overview of Results The following is a summary of our performance against each of our Key Results Area as identified in our Strategic Plan Key Results Area Performance Measurement Target 2003/2004 Results Promote Canberra Secure high yield, measurable Convert $27million worth Achieved $25.1 million worth of business events for Canberra of business events for ACT business and 52,781 room nights. Execute Top Secret 2004 Secure minimum of 19 buyers attended the March Program 30 buyers to attend 04 Top Secret program. 20 Buyers who were unable to attend this program, participated in the follow up program in May. Execute Capital Deals Repeat exposure to the Achieved. e-marketing program CCB s highly qualified corporate, association and government buyers Sydney Showcase Program Target min 60 pre-qualified Using budget savings in (if Marketing Levy proceeds) Sydney based buyers (with salaries, we hosted two Note: Levy did not proceed min potential of 30,000 Showcase Programs in Sydney room nights) a total of 120 (26 PCO and 33 Planners) and buyers attending. Melbourne. (29 PCO, 32 Planners). Host second Top Secret Target: min 20 pre-qualified The second program was Program or one PCO Famil association and corporate delivered in May thanks to Program buyers or 20 PCO s sponsorship from Ozaccom. (only with marketing levy) 20 buyers attended the second program rated by attendees as excellent. Provide Quality Identify areas for improvement That a minimum of two Workshop was held with Service to our as identified in the March areas of performance some key hotels to address clients Membership Survey improvement be addressed sales lead distribution. and monitored. Outcome was satisfactory. Communication regarding program input and participation has much improved as per feedback from industry partners. Good Business Combine business policies By 30 June 2004 Achieved. Management into a formalised document All staff identifys ways for By 30 June 2004 A number of operational improved efficiencies and costs efficiencies were achieved that resulted in an estimated saving of $10,000 by switching suppliers eg telecom. Provide Leadership That CCB is actively involved That our members rate The CCB has played a major for Business Events in issues related to our us as being an effective role in campaigning for an Industry sector locally and nationally or highly effective industry upgrade to the Convention representative Centre. Feedback thru correspondence has been extremely positive. 4

6 4. Key Result Area 1 - Promote Canberra Strategic Objective: To secure measurable return on investment for our stakeholders through promotion of Canberra and its competitive advantages to key target markets. The Canberra Convention Bureau s (CCB) key charter is to promote Canberra and secure business events for the economic benefit of Canberra and its stakeholders. The following highlights our key promotional activities during the year: BUSINESS DEVELOPMENT AND RESULTS The key measure of performance is the value and volume of business we secure for our city and our stakeholders. The target in was $27million worth of business (delegate expenditure) and we achieved $25.1million worth of business events. This equates to 30,662 delegates and 52,781 room nights. We are short of our annual target of $27m by $1.9m and some of the contributing factors include: a. The introduction of new convention centre supply in the market (Gold Coast and Perth) has resulted in lost business to those destinations. b. Planners are not prepared to take financial risks in choosing Canberra s convention centre until the timelines of the planned announcement of the upgrade is known. Of the total pending business, we expect a higher conversion ratio will be achievable when we can actively promote details of the NCC expansion and time line. As of 30 June 2004 there are a number of events that have chosen Canberra as the destination to host their national convention (valued at $3.5m with 2,360 delegates and 6,799 room nights). The CCB does not formally convert this business until a deposit has been paid at the primary meeting venue or the destination has been formally announced to association members/delegates. The appointment of an in market Business Development Manager in Sydney has increased substantially our exposure into the Sydney Market. In addition to this appointment 8 interstate sales trips were conducted to Melbourne, Brisbane, Adelaide and some additional representation into Sydney. Twenty six site inspection programs were hosted by the CCB throughout the year showcasing in excess of 65 member venues. In February the CCB and industry partners represented Canberra at the Australasian Incentive and Meetings Expo (AIME) in Melbourne where more than 100 appointments were secured. 5

7 4. Key Result Area 1 - Promote Canberra (continued) The CCB also contracted a telemarketer this year to investigate new business opportunities in NSW, VIC and SA on a four-week basis. A total of 1,257 accounts were reviewed and investigated. The CCB handled 387 accounts and enquiries during this financial year. A total of 177 business events were converted. Below are just some of the business events won by the CCB during 2003/04 period: Australian College of Operating Room Nurses (Top Secret Buyer), May 2006, worth $1.1m in visiting delegate expenditure, 600 delegates and 2,700 room nights. Count Wealth Conference, April 2004, worth $870,000, 700 delegates and 2,000 room nights. Inner Wheel National Convention, October 2005, worth $1.1m, 500 delegates and 2,700 room nights. Aust. Society for Microbiology 2005 Conference, September 2005, worth $1m, 700 delegates and 2,520 room nights. Cardiac Society Annual Scientific Meeting, August 2006, worth $1.8m, 1,500 delegates, 4,500 room nights. Speech Pathology Association of Australia, May 2005, worth $626,000, 400 delegates and 1,440 room nights. The Council of Asian Studies, June 2004, worth $600,000, 400 delegates and 1,000 room nights. 6

8 4. Key Result Area 1 - Promote Canberra (continued) PROMOTIONAL ACTIVITY HIGHLIGHTS The CCB undertook a range of new marketing program initiatives to generate interest in Canberra with a view to subsequent conversion of new business opportunities. These initiatives were undertaken due to budget savings on salaries and due to sponsorship from member organisations such as Ozaccom, Peter Jones Special Events and others. These activities included: Top Secret Since the inception of our Top Secret familiarisation programs, $46m and 92,879 room nights have been converted. This does not include business events that members may have converted directly with clients. Top Secret is traditionally hosted once a year. However, the buyer qualification process is very time consuming and if the qualified buyers are unable to attend the program, then we have lost the opportunity to showcase our city for another 12 months. As a result, we hosted two, back to back, programs this year, to capture the maximum number of qualified buyers. This was a highly successful strategy with a total of 39 buyers attending all with high value, new event opportunities for Canberra. Please extend my thanks again to all the CCB & partner teams for a fun & informative weekend. If your objective was to showcase Canberra as an exciting Conference venue, then without doubt you've achieved this. I'll be tabling Canberra as a potential future venue at our next ASCC meeting and we'll be in touch at the appropriate time. Kim Newham, Australian Society of Cosmetic Chemists I found the overall program put together by the Canberra Convention Bureau to be outstanding and of great benefit to me as a conference planner, as it opened my eyes to the vast opportunities available in Canberra to hold a conference. The nation s capital has a lot to offer in venue hire, particularly with respect to holding gala dinners/events such as the Australian War Memorial, the National Museum, the AIS and Old & New Parliament Houses to name but a few. The benefit of attending such a weekend is well worthwhile for any PCO who has not previously thought of this destination for a conference, or even smaller meetings. Well done to the staff at the Canberra Convention Bureau!! Your planning ideas, the opportunities put forward on Canberra and of course your friendliness, courteousness and professionalism make for a fantastic conference destination. Jenny Quist, Castrol Australia Pty Ltd 7

9 4. Key Result Area 1 - Promote Canberra (continued) Canberra Showcase The objective of the Canberra Showcase program is to promote the benefits of hosting business events in Canberra to a highly targeted audience of in house corporate and association meeting planners and professional conference organisers (PCOs). This year we hosted the first program in Sydney with 26 PCOs attending the evening cocktail party and 33 meeting planners attending the Presidential Breakfast. The presentation was highly creative using two actors disguised as Presidents Bush and Hu. This is what MICE.net magazine reported on the event. Due to the success of the Sydney program, we replicated the program in Melbourne for the Victorian market with 29 PCOs and 32 meeting planners. Industry partners were impressed with the creativity of the program and the effectiveness of communicating with a highly qualified audience. 8

10 4. Key Result Area 1 - Promote Canberra (continued) CEO Canberra Wine Dinner Forum The CCB hosted a private dinner function at a top Sydney Restaurant for 12 specially selected CEOs. The purpose of this event was to engage with key decision makers to persuade them to consider Canberra for their upcoming national convention. Guest speaker was Ken Helm whose charismatic personality and passion for the Canberra region really reinforced the many positive experiences Canberra offers to convention delegates. AIME AIME continues to be the largest and most important trade event for the Business Events sector to be staged in Australia. This trade show provides an excellent stage to highlight the competitive strengths of our destination. Exhibitors at AIME 2004 increased by 16% with 756 exhibitors from 45 countries. Hosted buyer numbers also increased to 376 buyers from 28 countries. Trade visitors were also up to 2,540. The CCB and industry partners secured 107 appointments over a two day period. The Canberra stand and theme again attracted the attention from buyers, media and other exhibitors. Our marketing partners for this event were, in alphabetical order: Australian Institute of Sport Australian War Memorial Hyatt Hotel Canberra Murrays Australia National Convention Centre National Museum of Australia Parliament House. AIME 2004 was a fantastic opportunity to meet people from all parts of Australia and the world and introduce them to Canberra as the destination for their event. It also gave me the chance to welcome them to the idea of holding it at the National Museum of Australia. Melinda Kibukamusoke, National Museum of Australia 9

11 4. Key Result Area 1 - Promote Canberra (continued) Local Familiarisation We can t afford to overlook the business potential in our own backyard. This is why we developed the Local Familiarisation program targeting Canberra based associations, corporate and federal government departments to introduce these clients to our members. Members have found these programs to be very valuable and a great means of writing direct business. The CCB s local famil program has been a great way to demonstrate to a significant number of event planners what Poachers Pantry has to offer. I can think of no better way of getting our story across to so many decision makers so quickly. The famil program has certainly been a critical tool in launching our function facilities. Susan Bruce, Poachers Pantry Local Famil programs are continuing to prove to be highly effective for both meeting planners and members. This financial year we conducted three programs with a total of 78 clients. I gained knowledge of places I had not heard of. Brooke Ellis, ACT Medical Board The most valuable part of the Local Famil for me was recognising other businesses that may contribute to your function other than venues Natasha Quinn, Department of Defence Focus on Business This year s Focus on Business forum featured the National Capital and the region as a centre of business excellence and innovation with worldclass firms across a range of industries. The CCB exhibited with one industry partner, Doma Hotels, to highlight the advantages of staging business events in the National Capital. The forum was a great opportunity to develop contacts with invited VIPs and other exhibitors. Six firm leads were sourced as a result of the CCB s participation in Focus on Business. 10

12 4. Key Result Area 1 - Promote Canberra (continued) Website & Information Technology The CCB continued to invest in information technology for greater productivity and smarter marketing options through continuously improving the CCB website. Making use of the website, the CCB developed a new marketing tool aimed at encouraging clients to choose Canberra as their preferred business event destination by offering a series of Capital Deals provided by CCB members. Considerable work on the website was conducted to enable Capital Deals program to be launched. Capital Deals provides clients with special discounts they can capitalise on when hosting a business event in Canberra. Every quarter members have the exclusive opportunity to communicate directly with CCB s business clients by offering special discounts or tailored business event packages. The Capital Deals web program has had a good response rate. With just one month after being launched, Capital Deals had close to 800 visits on the page and five enquiry forms where submitted through the site directly to members. Advertising The CCB invested $19,000 this financial year in press and print media tailored specifically to the business events market. Advertisements promoting Canberra as the leading business event destination were placed in trade magazines such as Quorum and mice.net. Publications such as City News and The Canberra Times were also used as mediums for reinforcing the same message. 11

13 4. Key Result Area 1 - Promote Canberra (continued) 12

14 5. Key Result Area 2 - Provide Quality Services Public Relations The CCB was busy this financial year raising the profile of Canberra as a business event destination through various PR activities. Total value of PR generated to date via editorial support and other mediums was $228,633. An agreement with Capital Magazine to feature a CCB article in each issue of Capital Magazine free of charge was negotiated this year. The publicity value of this agreement was in excess of $13,500. Television coverage of the CCB also assisted in raising the profile of Canberra as a business events destination. In March 2004, WIN TV ran a story on the role of the CCB in generating more business events for the city. As spokesperson for the Business Events Industry, the CEO was interviewed on a number of occasions regarding the National Convention Centre upgrade. In addition to this, the government s announcement for expressions of interest for the redevelopment of the convention centre also generated publicity on TV, radio and press. 13

15 5. Key Result Area 2 - Provide Quality Services (continued) Strategic Objective: To satisfy the expectations and needs of our business events clients, industry partners and government. The CCB s philosophy is similar to most commercial organisations with a strong focus on economic outcomes. However, we also strive to maintain a strong culture of delivering high quality, professional services that directly correlate to our values and service charter. INDUSTRY COMMENT/RECOMMENDATION Early govt decision on convention centre More Forums with Industry More Interstate Promotion CCB Logo very 80 s. Less Focus on Canberra market Less promotion of Parliament House Larger establishments get greater coverage CCB ACTION The CCB will continue to address this high priority issue with government and other stakeholders through ongoing discussions and the government established Industry Advisory Group comprising CCB Board members. The CCB currently hosts monthly networking forums plus two annual planning forums for its members. This year we will host a new mid-year forum to review half yearly performance and review business plan in line with environmental changes and needs. We propose this is done in conjunction with ACTC. The CCB will host a number of new program initiatives in Sydney and Melbourne open for industry participation. A new logo will be revised in line with the new Canberra branding development campaign being managed by ACTC. Federal agencies and institutions provide a wealth of opportunities for national and international convention business. Each year the CCB generates and converts a number of mid to large sized national and international conventions from these important sources. See page 6 for the CCB s strategy in generating valuable business from the ACT market. For the conference association market that primarily plays an advocacy role, access to federal government is one of the key reasons they choose Canberra for their conventions. We need to continue to promote this unique competitive advantage that is Parliament House to the appropriate market. The first priority for meeting planners is to ensure that the city s primary meeting facilities meet their requirements these are usually Canberra s larger establishments. Once the business is won, smaller establishments and other CCB members can follow up and convert business accordingly. The CCB will continue to host How to Maximise Your CCB Membership forums held on a monthly basis for industry members. These forums give members the chance to understand the meeting planner s buying/decision making process and how to pitch business proposition more effectively to planners. 14

16 5. Key Result Area 2 - Provide Quality Services (continued) Members continued support of the CCB was evidenced with a number of members upgrading their membership to access more business opportunities. As feedback is vital to the success in measuring the CCB s performance, we will continue to follow up with members to seek more robust information on which to consider what areas may need improvement or change. 15

17 6. Key Result Area 3 - Good Business Management Strategic Objective: To achieve better practices in managing our business effectively in a productive and supportive work environment TARGETS: 1. Review Business Practices The CCB reviewed a number of its business practices for greater efficiency. As a result of this review, in the CCB will invest in upgrading its PC hardware to facilitate an upgrade to our database management system and to Windows XP. The upgrades will save considerable time for the Business Development Team and enable us to produce better sales data for more targeted sales approach in each territory. 2. Formalise Business Policies A CCB operational manual has been developed but needs to be updated on a regular basis. In the CCB will update its Business Development Manual outlining the sales processes in promoting and selling our destination. This will become a more effective document that will better assist in training new Business Development staff. 3. Conduct Quarterly Financial Reports Wilson Watt Pappendrea provide financial reports to the Board every quarter. The CEO also provides a written and verbal rationale for any variances to the budget (approved by the Board prior to the commencement of the financial year). These independent reports are in addition to the annual audit. The CCB also tracks cash and cash equivalent support from government and private sector partners. The following shows a breakdown of this support 16

18 6. Key Result Area 3 - Good Business Management (continued) CASH INCOME - 1/7/03-31/5/04 1% Miscellaneous 15% Hotels 2% PCO s 63% Government 11% Venues 1% Catering/Restaurants 5% Convention Services 2% Transport & Tour Guides CASH EQUIV INCOME - 1/7/03-31/5/04 10% Transport & Tour Guides 0% Miscellaneous 0% Government 19% Convention Services 1% Catering/ Restaurants 32% Hotels 6% PCO s 30% Venues CASH INCOME + CASH EQUIV INCOME + 1/7/03-31/5/04 1% Miscellaneous 18% Hotels 3% PCO s 49% Government 15% Venues 2% Catering/Restaurants 18% Convention Services 4% Transport & Tour Guides 17

19 6. Key Result Area 3 - Good Business Management (continued) 4. Conduct Internal Team Scoreboard The CCB aims to provide a productive and supportive workplace. All members of staff completed a survey that showed 80% of the staff felt supported. Some areas of concern have been addressed by the CEO. A new system of mutually agreed performance agreements was developed between staff members and the CEO. These state the performance standards of key result areas relevant to the various positions and are directly aligned to our strategic objectives, defined service charter and organisational values. This method is highly effective in helping people clearly understand the expectations of their role within the organisation and how they contribute to the organisation, their department and individually. 18

20 7. Key Result Area 4 - Provide Industry Leadership Strategic Objective: To be considered a one-stop-shop for clients, stakeholders and media in relation to business events issues in the ACT TARGET RESULTS: 1. Representation of Business Events Sector in Industry Associations The CCB is represented on the following associations: Business Events Council of Australia (Dee McGrath is the Chairman of the National Research Study) Association of Australian Convention Bureaux (Dee McGrath is a board member) Canberra Business Council (Dee McGrath is a Councillor) Meetings Industry Association ACT (Amanda Hogg is a committee member). In April 2004, the CCB Chief Executive attended a national leaders forum of the Business Events industry in Melbourne to assist in identifying barriers for growth in the industry. This forum was followed by an announcement by the Minister regarding new initiatives for special funding for a new Business Events body to form part of the new Tourism Australia Locally the CCB submitted a formal response to the ACT Government s Draft Spatial Plan. The draft plan did not include or mention the city s convention centre and the impact it will have on future developments either in the city or at a potential new location. The CCB paper outlined the need to address the needs of the city s core infrastructure. 2. CCB Board Members Role on Other Committees Members of the CCB Board are encouraged to communicate the economic benefit of Canberra while also serving on other committees in Canberra or beyond. 19

21 7. Key Result Area 4 - Provide Industry Leadership (continued) 3. Convention Centre Update The CCB continued to play a vital role in liaising with the Government and broader business community about the importance and value of the Business Events sector to the ACT economy. The bureau organised a special Focus Group to identify the key priorities for an upgraded centre. This report was submitted to Government in July The CCB was also instrumental in providing other statistics and reports to government and others to support the case for an urgent upgrade and expansion. 4. Media Relations The CCB has maintained and strengthened its relationships with the local and national media. This was apparent this year with national TV stations running interviews with CCB s Chief Executive and local and national press contacting the CCB regarding the National Convention Centre s upgrade. Publicity this year is valued at $228, National Business Events Study The National Business Events Study aims to measure Business Events activity throughout Australia and the economic impact of this high yield sector. The CCB s Chief Executive is Chair of the National Steering Committee and much progress has been made throughout the year. The report is expected to be published in November 2004 to be launched by the new Federal Minister for Tourism. 20

22 CC B 8. FINANCIAL STATEMENTS CANBERRA CONVENTION BUREAU INC Annual Report

23 CANBERRA CONVENTION BUREAU INC. 8. Financial Statements Table of Contents Executive Committee Report Auditor s Report Statement of Executive Committee Profit and Loss Appropriation Balance Sheet Statement of Cash Flows Notes to and Forming Part of the Accounts Auditor s Disclaimer Profit and Loss Account 22

24 CANBERRA CONVENTION BUREAU INC. Executive Committee Report EXECUTIVE COMMITTEE The following persons hold office as executives at the date of this report: Barrie Markey Ross MacDiarmid James Grigg Tish Nyar Dennis Souter Peter Gordon Andrew Hogg Karl Diefenbach Mark Sproat Noel McMahon Barry Neame Tom Snow Lois Fordham Patricia Napper ICMS Pty Ltd Canberra Tourism & Events Corporation SBX Systems Built Exhibitions Rydges Capital Hill The Boat House By The Lake ACT Chief Minister s Department Qantas Airways Hyatt Hotel Brassey Hotel Crowne Plaza Canberra Consec Conference Management Canberra International Airport Australian Sports Commission Conference Solutions (resigned) PRINCIPAL ACTIVITIES The principal activity of the Association is to promote Canberra as a convention destination. There have been no significant changes to the nature of the Association s activities during this year. RESULTS The net result for the year ended 30 June 2004 was a profit of $1, (2003, $106,542.82) James Grigg Chairman Noel McMahon Treasurer Signed at Canberra this 16th day of July

25 CANBERRA CONVENTION BUREAU INC. Auditor s Report To The Members of the Canberra Convention Bureau INC Year ended 30 June 2004 SCOPE I have audited the attached financial statements of the Canberra Convention Bureau Inc ( the Association ) for the financial year ended 30 June The Executive Committee of the Association is responsible for the preparation and presentation of the financial statements and the information they contain. I have conducted an independent audit of these financial statements in order to express an opinion on them to the members of the Association. My audit has been conducted in accordance with Australian Auditing Standards to provide reasonable assurance as to whether the financial statements are free of material misstatement. The procedures included examination, on a test basis, of evidence supporting the amounts and significant accounting estimates. These procedures have been undertaken to form an opinion as to whether, in all material respects, the financial statements are presented fairly in accordance with Australian accounting concepts and standards and statutory requirements so as to present a view which is consistent with our understanding of the Association s position and the results of its operations. The audit opinion in this report has been formed on the above basis. AUDIT OPINION I report that the accounts are properly drawn up in accordance with the provisions of the Associations Incorporation Act 1991; i. so as to give a true and fair view of matters required by subsection 72(2) to be dealt with in the accounts; and ii. are prepared in accordance with proper accounting standards. In my opinion i. I have obtained all the information and explanations necessary to form an opinion, and ii. proper accounting records and other records have been kept by the Association as required by the Associations Incorporation Act Address: 72 Dundas Court PHILLIP ACT 2606 ALLAN LESLIE WATT AUDITOR Date: 9th July 2004 WILSON WATT PAPANDREA ACCOUNTANTS 24

26 CANBERRA CONVENTION BUREAU INC. Statement by Executive Committee In accordance with a resolution of the executive of the Canberra Convention Bureau Inc we state that in the opinion of the executive: a) the Profit and Loss Account is drawn up so as to give a true and fair view of the profit of the Association for the financial year ended 30 June 2004, b) the Balance Sheet is drawn up so as to give a true and fair view of the affairs of the Association as at 30 June 2004, and c) as at the date of this statement there are reasonable grounds to believe that the Association will be able to pay its debts as and when they fall due. James Grigg Chairman.. Noel McMahon Treasurer Signed at Canberra this 16th day of July

27 CANBERRA CONVENTION BUREAU INC. Profit & Loss Account For the year ended 30 June $ $ Operating profit (loss) 1, , Retained profits at the beginning of the financial year 153, , Total available for appropriation 155, , Retained profits at the end of the financial year 155, , The accompanying notes form part of these financial statements 26

28 CANBERRA CONVENTION BUREAU INC. Balance Sheet For the year ended 30 June 2004 Note $ $ CURRENT ASSETS Cash on Deposit 100, Cash on Hand Cash at Bank 46, , Advance Cash Management Account 82, , Trade Debtors 402, , Convention Assistance 10, Prepayments & Accrued Income 14, FIXED ASSETS 645, , Plant & Equipment 3 7, , TOTAL ASSETS 652, , CURRENT LIABILITIES Trade Creditors 44, , GST Payable 33, , Provision for Annual Leave 15, , Provision for Long Service Leave 19, , ACT Government Convention Assistance Advance 10, Income in Advance 383, , , , NET ASSETS 155, , MEMBERS FUNDS Unappropriated Profit 155, , The accompanying notes form part of these financial statements 27

29 CANBERRA CONVENTION BUREAU INC. Statement of Cash Flow For the year ended 30 June 2004 CASH FLOWS FROM OPERATING ACTIVITIES CASH FLOWS FROM OPERATING ACTIVITIES: $ $ Receipt from members 368, ,713 Payments to suppliers and employees (1,119,111) (937,446) Interest received 13,086 9,385 Government allocation 792, ,000 Net cash from operating activities (Note 4(a)) (17,938) 119,652 Cash flows from investing activities: Payment for property, plant & equipment Net cash used in investing activities Net increase (decrease) in cash held (17,938) 119,652 Cash at the beginning of the year 246, ,770 Cash at the end of the financial year (note 4(b) 228, ,422 The accompanying notes form part of these financial statements 28

30 CANBERRA CONVENTION BUREAU INC. Notes to and forming Part of The Accounts For the year ended 30 June 2004 NOTE 1 SIGNIFICANT ACCOUNTING POLICIES The accounts have been prepared on the basis of historical costs and do not take into account changing money values or current valuations of non-current assets. The accounting policies have been consistently applied unless otherwise stated. Depreciation Plant and equipment are depreciated over their estimated economic lives using the diminishing value basis of depreciation. Employee Entitlements Provision is made for employee entitlements arising from services rendered by employees to balance date. Employee entitlements expected to be settled within one year together with entitlements arising from wages, salaries, annual leave and long service leave which will be settled after one year, have been measured at their nominal amount. Other employee entitlements payable later than one year have been measured at the present value of the estimated future cash outflows to be made for those entitlements. Cash For purposes of the statement of cashflows, cash includes deposits at call which are readily convertible into cash which are used in cash management functions on a day to day basis, and cash on hand and in the bank. Liability of Members The Bureau is an Association incorporated under the Associations Incorporation Act Members of the Association are liable to contribute an amount not exceeding $20 to the payment of the liabilities of the Association upon a winding up. Income Tax The Association is exempt from income tax under Section 23(e) of the Income Tax Assessment Act. 29

31 CANBERRA CONVENTION BUREAU INC. Notes to and forming Part of The Accounts For the year ended 30 June 2004 NOTE 2 SEGMENT ACCOUNTING (continued) The Association operates within the Australian Capital Territory to promote Canberra as a convention destination. NOTE 3 PLANT AND EQUIPMENT $ $ Plant & Equipment at cost 85, , Less: Accumulated Depreciation 81, , , , Furniture & Fittings at cost 21, , Less: Accumulated Depreciation 17, , , , Computer Software at cost 16, , Less: Accumulated Depreciation 16, , Total plant and equipment 7, ,

32 CANBERRA CONVENTION BUREAU INC. Notes to and forming (continued) NOTE 4 STATEMENT OF CASH FLOWS (a) Reconciliation of operating result with cash flows from operations $ $ Operating Result Surplus (Deficit) 1, ,543 Non Cash Items: Part of The Accounts For the year ended 30 June 2004 Depreciation & amortisation of fixed assets 1,606 2,347 Provision for employee entitlements (14,917) 31,636 Changing in Operating Assets and Liabilities: (13,311) 33,983 (11,355) 140,526 Debtors (11,965) (20,309) Creditors and accruals 16,814 (26,444) Subscriptions in advance 3,041 25,879 Prepayments (14,473) (6,583) (20,874) Net Cash Provided by Operating Activities (17,938) 119,652 (b) Reconciliation of Cash For the purposes of this statement of cash flows, cash includes cash on hand and in banks, net of outstanding bank overdrafts. Cash at the end of the financial year as shown in the statement of cash flows is reconciled to the related items in the balance sheet as follows: $ $ Cash on Hand Cash at Bank 228, ,222 Cash Balance at Year End 228, ,422 31

33 CANBERRA CONVENTION BUREAU INC. Notes to and forming Part of The Accounts For the year ended 30 June 2004 (continued) NOTE 5 RELATED PARTY DISCLOSURES The members of the Executive of the Canberra Convention Bureau Inc during the financial year were: Barrie Markey Ross MacDiarmid James Grigg Tish Nyar Dennis Souter Peter Gordon Andrew Hogg Karl Diefenbach Mark Sproat Noel McMahon Barry Neame Tom Snow Lois Fordham Patricia Napper ICMS Pty Ltd Canberra Tourism & Events Corporation SBX Systems Built Exhibitions Rydges Capital Hill The Boat House By The Lake ACT Chief Ministers Department Qantas Airways Hyatt Hotel Canberra Brassey Hotel Crowne Plaza Canberra Consec Conference Management Canberra International Airport Australian Sports Commission Conference Solutions (resigned) NOTE 6 INTERNET & WEB MARKETING Internet & Web Marketing expense includes internal systems development, installation and training. The database system requires maintenance and upgrade on an annual basis. 32

34 CANBERRA CONVENTION BUREAU INC. Auditor s Disclaimer TO THE MEMBERS CANBERRA CONVENTION BUREAU INC The additional financial data presented in the following pages is in accordance with the books and records of the Canberra Convention Bureau Inc which have been subjected to the auditing procedures applied in our audit of the Association for the year ended 30 June It will be appreciated that our audit did not cover all details of the additional financial data. Accordingly, we do not express an opinion on such financial data and no warranty of accuracy or reliability is given. Neither the firm nor any member or employee of the firm undertakes any responsibility in any way whatsoever to any person (other than Canberra Convention Bureau Inc) in respect of such data including any errors or omissions therein however caused.... WILSON WATT PAPANDREA ACCOUNTANTS CANBERRA 33

35 CANBERRA CONVENTION BUREAU INC. Profit and Loss Statement Part of The Accounts For the year ended 30 June 2004 INCOME Note $ $ ACT Government Allocation 792, , Co-operative Advertising 118, , Co-operative Promotions 53, , Interest Received 13, , Membership Activities 4, Membership Fees 176, , Sundry Income 2, , ,161, ,057, EXPENDITURE Accountancy Fees 5, , Advertising 18, , Audit Fees 1, , Bad Debts Bank Charges 1, , Collateral Material 92, , Data Base & Computer Costs 17, , Depreciation 3 1, , Electricity 2, , Familiarisations & Promotions 78, , Freight Fringe Benefits Tax 15, , GST Rounding (-14) (-15) Insurance 17, , Internet & Web Marketing 6 30, , International Sales/Promotions 2, , Leasing Charges 17, , Motor Vehicle Expenses 28, , The accompanying notes form part of these financial statements 34

36 CANBERRA CONVENTION BUREAU INC. Profit and Loss Statement Part of The Accounts For the year ended 30 June 2004 (continued) EXPENDITURE (CONTINUED) $ $ National Sales Activities 10, , Petty Cash Expenditure Postage 16, , Professional Fees , Provision for Employee Entitlements (14,916.74) 31, Rent 52, , Repairs & Maintenance Research 3, , Staff Training 12, , Stationery 11, , Subscriptions 18, , Sydney Sales Office 4, Superannuation Contributions 75, , Telephone & Fax 18, , Trade Shows/Promotions - National 37, , Wages 579, , ,159, , NET OPERATING PROFIT 1, , Accumulated Surplus - Beginning of Year 153, , UNAPPROPRIATED PROFIT AT 30 JUNE , , The accompanying notes form part of these financial statements 35

37 CANBERRA CONVENTION BUREAU INC /04 List of Members for Canberra Convention Bureau For the year ended 30 June 2004 Absolute Conferences and Events Academy Club ACTION Charter Buses ACTS Conferencing Ainslie Function Centre Audio Solutions Australian Institute of Sport Australian National Botanic Gardens Australian National University Australian Railway Historical Society (ACT) Australian War Memorial Balloon Aloft Balloon Brilliance Belconnen Hotel/Motel & Serviced Apartments Bentley Suites Best Western Embassy Motel Blue Dolphin Productions BlueRock National Gallery of Australia Burgmann College Canberra Centre Management Canberra City Accommodation Canberra Day Tours & Coach Charter Canberra Institute of Technology - Faculty of Tourism & Hospitality Canberra International Airport Canberra Southern Cross Club Tuggeranong Canberra Southern Cross Club Woden Canberra Southern Cross Yacht Club Canberra Southern Cross Yamba Sports Club Capital Executive Apartment Hotel Capital Indoor Plant Hire Capital Magazine Publisihing Cockington Green Conference Co-ordinators Conference Logistics Conference Solutions Consec - Conference Management & Secretariat Services Countrylink Cre8ive.com.au Creative Image Photography Crowne Plaza Canberra CSIRO Discovery Dawn Drifters Event Pix Exec u Gifts Exhibition Park In Canberra Flavours - The Culinary Centre Forrest Inn and Apartments Garden City Motel Ginger Catering at Old Parliament House Gold Creek Country Club Green, Words & Images Griffin Hotel, Canberra Hire A Guide Hire Intelligence Hotel Heritage Hotel Kurrajong Hoteliers International Pty Ltd Hudsons Catering at Questacon 36

38 CANBERRA CONVENTION BUREAU INC /04 List of Members for Canberra Convention Bureau For the year ended 30 June 2004 (continued) Hyatt Catering at Australian War Memorial Hyatt Catering at Madew Wines Hyatt Catering at National Museum of Australia Hyatt Hotel at Parliament House Hyatt Hotel Canberra ICMS Pty Ltd Id Photographics Idol Moments Canberra Private Tours Irene Lorbergs Photography JAYMAC Promotional Products Pty Ltd Kamberra Wine Company Kid's Fun Club King O'Malleys Irish Pub Let's Create Mammoth Promotions Manuka Oval Management Company Medina Classic Canberra Medina Executive James Court mice.net Magazine Murramerang Resort Murrays Australia National Capital Authority National Capital Printing National Convention Centre National Gallery of Australia National Museum of Australia National Press Club Novotel Canberra Old Parliament House Olims Canberra Hotel - Managed By Mercure Oxley Court Serviced Apartments Pacific International Apartments - Capital Tower Paddywack Promotional Products Parliament House - Joint House Department Pavilion on Northbourne Performance Max Peter Jones Special Events Pinnacle Apartments Poachers Pantry Privileges QANTAS Airways QANTAS International Quality Hotel Dickson Quality Hotel Diplomat Quality Hotel Woden Quest Canberra Serviced Apartments Questacon - National Science & Technology Centre Randall Haines Photography Rydges Capital Hill Rydges Eagle Hawk Resort Rydges Lakeside Canberra Saville Park Suites Canberra SBX - System Built exhibitions smallwineries.com.au Smart Edge Solutions Staging Connections Sweethearts Music 37

39 CANBERRA CONVENTION BUREAU INC /04 List of Members for Canberra Convention Bureau For the year ended 30 June 2004 (continued) The Boat House By The Lake The Brassey of Canberra The Canberra Times The Chifley on Northbourne The Ozaccom Group The Quorum Magazine This Week In Canberra Magazine Tony Magee Entertainment Toorallie Australia Tour Hosts Conference & Exhibition Organisers Tourism Industry Council Umbrella Day Tours University House University of Canberra Union Ursula College Waldorf Apartment Hotel Waters Edge Canberra 2003/2004 KINDRED ORGANISATIONS ACT & Region Chamber of Commerce & Industry Australian Association of Convention Bureaux Australian Hotels Association - ACT Region Australian Capital Tourism Corporation Canberra Accommodation Industry Association Canberra Business Council Canberra Regional Tourism Operations Association Chief Ministers Department MIAA ACT Branch National Capital Attractions Association Team Australia Tourism Industry Council 2003/2004 PLATINUM MEMBERS ACTION Charter Buses ACTS Conferencing The Canberra Times (The) Chifley on Northbourne Crowne Plaza Canberra Exhibition Park In Canberra Hotel Heritage Hyatt Hotel Canberra ICMS Pty Ltd Medina Executive James Court Murrays Australia National Convention Centre Novotel Canberra Olims Hotel Canberra Managed By Mercure Pavilion on Northbourne Qantas Airways Rydges Capital Hill Rydges Eagle Hawk Resort Rydges Lakeside Canberra Saville Park Suites Canberra Staging Connections Canberra (The) Ozaccom Group Waldorf Apartment Hotel 38

40 CANBERRA CONVENTION BUREAU INC /04 Platinum Members Canberra Convention Bureau For the year ended 30 June 2004 (continued) 39

41 Notes 40

42 One of the key measures of our success in delivering quality customer services and innovative marketing programs to promote our destination, is how our clients rate us. A survey was conducted with participants of this year s Top Secret program. Key findings were: CCB SERVICE The overall survey results, coupled with all respondents rating the CCB s service as either excellent 83% or above average 17% both prior and during the weekend, ensure that the Top Secret weekends remain as one of the CCB s most successful cooperative marketing opportunities. PROGRAM INNOVATION In relation to program innovation it is encouraging to note that 86% of the respondents rated the program s originality as excellent with the remaining 14% rating it as above average. When asked to comment on the program s relevance the majority of respondents at 65% rated the program as being extremely relevant to their needs with the remaining 35% rating it as very relevant. PERCEPTIONS After participating in the Top Secret Programs 85% of all respondents stated that the weekend changed their perception of Canberra. Interestingly, when the delegates were asked to list in order of priority what impressed them most about the City, the great variety in conference venues came out on top. When asked to prioritise Canberra s strongest attributes as a conference destination the respondents rated the variety of venues, easy access from other states and cities, and the opportunity to use the National Attractions in the conference program as the top three priorities. 41

43 42

44 CANBERRA CONVENTION BUREAU