Australian Technology Park - Annual Report 2011 by Tonic Connective

2010-2011 ANNUAL REPORT

2010-11 ANNUAL REPORT

The Hon. Brad Hazzard M.P. Minister for Planning and Infrastructure, Minister assisting the Premier on Infrastructure Governor Macquarie Tower Farrer Place Sydney

Dear Minister Hazzard, It is with pleasure that I forward you the eighth Annual Report of the Australian Technology Park for the year ending 30 June 2011. This report has been prepared in accordance with the NSW Annual Report (Statutory Bodies) Act 1984 No 87, the Annual Report (Statutory Bodies) Regulation 2000 and the Growth Centres (Development Corporations) Act 1974.

Yours Sincerely,

Roy Wakelin-King AM Managing Director Australian Technology Park Sydney Limited

AUSTRALIAN TECHNOLOGY PARK

CONTENTS

Charter

From the Chairman and Managing Director

Board Members

Corporate Governance

Innovation

Heritage and Sustainability

Community

Operational Structure and Performance

Management and Achievements

Conference and Exhibition Centre

Directors’ Report

Directors’ Declaration

Auditor’s Independence Declaration

Independent Auditor’s Report

Financial Statements

Appendices

Index

Credit

ATPSL VISION: TO CREATE A WORLD-CLASS TECHNOLOGY PARK THROUGH LEADERSHIP, INNOVATION, SUSTAINABILITY AND COMMUNITY ENGAGEMENT BASED IN A HERITAGE SETTING.

2010-11 ANNUAL REPORT

4 From July 2000, ATP was owned and managed by the Sydney Harbour Foreshore Authority and then became a whollyowned subsidiary of the Redfern-Waterloo Authority (RWA) in April 2005. It is one of eight locally significant strategic sites under the jurisdiction of the RWA.

In 2009, the new $123m television studio and media complex was completed and now houses the Seven Network, its publishing group, Pacific Magazines, and the headquarters for Global Television. ATP is also a centrepiece in approved plans for the revitalisation of the North Eveleigh Precinct. This includes new residential dwellings, the adaptive reuse of heritage buildings and public open spaces including five new parks.

The purpose of the ATP is to provide an environment for collaborative research and development where companies can forge exciting new alliances and access support for commercialisation.

The aim is for the Park to be fully developed within the next 10 years, with an ultimate workforce of more than 9,000 permanent employees, making ATP the main driver in Redfern-Waterloo’s economic growth over the next decade.

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National Innovation Centre

Australian Technology Park (ATP) was an initiative of the University of New South Wales, the University of Sydney and the University of Technology (Sydney), with support from the NSW Government and the Federal Government.

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The ATP’s first decade was one of significant technological and scientific innovation. Since 2005, an investment of more than $54m has resulted in new roads and infrastructure along with the completion in 2008 of the 11,000sqm research facility for National Information and Communications Technology Australia (NICTA) and the Defence Science and Technology Organisation (DSTO).

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AUSTRALIAN TECHNOLOGY PARK

5 Precinct Management Team

2010-11 ANNUAL REPORT

6 ATPSL has had a successful year in 2010/2011 with the Company recording a trading surplus of $2.514m (before valuation decrement and an asset writeoff). In accordance with the Company’s Constitution, these profits will be returned to ATPPSL to help it fulfill its objectives.

FROM THE CHAIRMAN AND MANAGING DIRECTOR We are pleased to present the 11th Annual Report for Australian Technology Park SYDNEY LTD (ATPSL).

ATPSL remains financially strong with a resilient business model built on a valued technology brand; a competitive asset management and tenancy platform; a supplementary conference and events business; and cost and capital efficiency. Over the years ATPSL has built a strong foundation on this business model and this continues to form the basis of our future priorities. Despite the continuing uncertain economic times, ATPSL continues to grow and has built on its successes under the ownership of the Redfern-Waterloo Authority. It is clear the contribution of its staff has been a key factor in delivering this result and that its employees remain the central part of ATPSL’s performance. In achieving its financial result for this year, the Company’s precinct management revenue increased 5%% to $19.6m as a result of maintaining a low average vacancy factor of less than 1.8%, low tenant turnover, increases in rental per square metre rates. This has been added to by maintaining revenues from the conference and events activities and the car parking facilities that have come on line as part of the new development at 8 Central Avenue. The low vacancy factor continued to compare favourably to the City fringe catchment area.

WE ARE PLEASED TO REPORT ATPSL CONTINUES TO PERFORM STRONGLY AND BUILD A REPUTATION AS A WORLD CLASS FACILITY

ATPSL was very pleased to welcome the University of Sydney to the Park through its occupancy of the Biomedical Building. The use of this facility by the University’s Agriculture Faculty strengthens ATP’s ongoing commitment to innovation and scientific research. ATPSL also continues to meet its obligations under the Company’s Constitution through the engagement of high technology-based enterprises and the Park continues to be home for some of Australia’s most innovative and forward looking companies. New companies include Adaptive Solutions, Applied Solarwind Solutions, and Cohesive Data, all of whom have made a positive contribution toward fostering a vibrant innovative and technology based community. ATPSL released its Sustainability Strategy in May 2011 creating an important link between innovations and technology that lead to sustainable outcomes. Amongst its tenant group, ATP has some of the best innovators in the sustainability industry and it is through this community that the key objectives of the strategy will be realised. ATPSL has also invested significant capital into sustainability project which will come on line in the next financial year. In further support of the Company’s obligations under its Constitution, ATPSL’s $3.12 million capital investment at the ATP throughout the year has resulted in a significant uplift in the presentation and feel of the Park. The new Innovation Plaza that is set in a unique heritage environment has provided a wonderful public space that is enjoyed by tenants and visitors to the Park. ATPSL has also invested significantly in its conference and event facilities throughout the year with the dining room being upgraded to a world class showroom with state of the art lighting. Improvements have also been made in leasing space at the Park to help ATPSL strive towards full occupancy on an ongoing basis.

AUSTRALIAN TECHNOLOGY PARK

7 Right: Bay 15

ATPSL continued to work closely with the Redfern-Waterloo Authority and developed further engagement with the local community through managing and operating the Eveleigh Market. This work is a key part of ATPSL’s Corporate Social Responsibility program and these award winning markets continue to from strength to strength. The Conference Centre at ATP has to perform tremendously well throughout the year in a very competitive environment. Revenue for this part of the Company’s business grew strongly with an increase of nearly 16%. ATP hosted high quality events at the Park throughout the year including Junior Masterchef, HMAS Manora Ball, the QANTAS Safety Conference and Electronea Conference. Again, in accordance with ATPSL’s Constitution, profits earned by the conference centre business are returned to the company to help it meet its objectives. We are pleased to report ATPSL continues to perform strongly and build a reputation as a world class facility. ATPSL continues to play a key role in the urban renewal of the RedfernWaterloo area through its ongoing investment in the Park, while the transformation of the ATP site is continuing to stimulate the economic and social outcomes for the local community. The growth and development of the site as the major technology, research and digital media centre in NSW will continue providing outstanding opportunities and benefits to the RedfernWaterloo area and Sydney more broadly. Finally, we would like to extend our appreciation to the tenants and our conference centre customers for their commitment and ongoing support of the ATP.

Dr Col Gellatly AO Chairperson ATPSL

Roy Wakelin-King AM Managing Director ATPSL

2010-11 ANNUAL REPORT

BOARD MEMBERS

Dr Col Gellatly AO

Mike Collins

B Ag Ec 9 (Hons) UNE, M Comm (Hons) UNSW, PhD NC State, FIPAA, Chairman

FRICS

Dr. Col Gellatly AO is the current Chairperson of the Redfern-Waterloo Authority and a former DirectorGeneral of the Premier’s Department. He has held a number of senior management positions within the NSW public service and is also Chair of Pillar Corporation, a member of the Board of State Water Corporation, a member of the UNE Council, member of the Board of the NSW Rugby League and an Administrator for Wollongong City Council. Dr. Gellatly has a degree in Agricultural Economics from the UNE, a Master of Commerce from UNSW and a PhD from North Carolina State University.

Mike Collins is a Sydney property practitioner. He has been involved in property economics, real estate valuation, property consultancy and asset management for over 35 years, and is professionally qualified in property economics and valuation. He runs his own property advisory company based in the Sydney CBD. Mr Collins is the Chairman of the Sydney Harbour Foreshore Authority and the Barangaroo Delivery Authority. He is also Chairman of the NSW Government’s Land and Housing Supply Coordination Task Force. He is a former Chairman of the Heritage Council of NSW and a former National and NSW President of the Australian Property Institute.

Lucy Hughes Turnbull AO

John Mulally

LLB (Sydney), MBA (UNSW)

BA LLB (Hons)

Lucy Hughes Turnbull AO is a Director of the Board of Melbourne IT, an Australian publicly-listed internet services company with operations in North America, Europe and Asia. She is also a Board Member of the Centre for Independent Studies, the Redfern Foundation Limited, the Turnbull Foundation and the Cancer Institute NSW. Ms Turnbull was Sydney’s first female Lord Mayor (2003-4) and Deputy Lord Mayor (1999-2003). She served as a Councillor on the City of Sydney from 1999-2004 and chaired many council committees, including the Central Sydney Planning Committee, the Planning, Transport and Development Committee and the Finance and Audit Committees. Ms Turnbull is Deputy Chair of the Committee for Sydney and a Board Member of the contemporary art Biennale of Sydney. Her interests include history, contemporary culture, planning, architecture and design and, in 1999 she published the book, ‘Sydney – Biography of a City’.

John Mulally has over 40 years experience as a lawyer specialising in major property and infrastructure projects. He has acted for major Australian and off-shore developers and investors, Australian and State Government instrumentalities and off-shore Governments. This has included the acquisition, development and sale of major projects in all capital cities of Australia as well as in Vanuatu, Jakarta, Bangkok, Singapore, Tokyo, London, Paris, St Petersburg, Kiev, Moscow and New York. He has also advised on major energy projects in Australia and off-shore and on major infrastructure and renewable energy projects in China and Africa. His role in these projects dealt with the funding structure, legal requirements and integration of the commercial with the legal outcomes required to achieve project development. He is currently acting for Western Gulf Advisory AG of Switzerland which is a major funder of and an investor in Australian projects.

AUSTRALIAN TECHNOLOGY PARK

9 Right: Pivot crane in Innovation Plaza

Richard Johnson

Ann Weldon

MBE M Phil (UCL) B.Arch Hons 1 (UNSW) FRAIA Richard Johnson is an award winning architect, a Visiting Professor of Architecture at the UNSW and a Director of Johnson Pilton Walker Architects. He is also a Fellow of the Australian Institute of Architects, an Associate of the Japan Institute of Architects, and a Member of the Design Institute of Australia. He also serves on the Board of the Australian Architects Association. Mr Johnson has a Bachelor of Architecture from the UNSW and a Master of Philosophy (Town Planning) from University College, London. In 1976 he was made a Member of the Order of the British Empire for services to architecture.

Ann Weldon is a proud member of the Wiradjuri Nation and was one of the founding members of the NSW Aboriginal Childrenâ&#x20AC;&#x2122;s Service and Inner West Aboriginal Community Company to name just two. For the past 35 years, Ms Weldon has held executive positions and was a member of a number of committees including the Metropolitan Local Aboriginal Land Council, Marrickville Aboriginal Consultative Committee and Aboriginal Legal Service. She was elected to the Sydney ATSIC Regional Council for three consecutive terms as Councillor and as the Chairperson and Deputy Chairperson. Ms Weldon was appointed to the inaugural NSW Aboriginal Housing Board in 1998 as an ATSIC nominee and was then appointed the first female Chairperson of the NSW Housing Board from 2000-2007.

Roy Wakelin-King AM BPS (UNE) GDP Bus (UTS) Managing Director Roy Wakelin-King AM was appointed the Managing Director of ATPSL on 16 February 2009. Prior to this, Mr Wakelin-King was the Deputy Director General of the Office of Public Works & Services with the NSW Department of Commerce. Roy was also CEO of the World Youth Day Coordination Authority which coordinated the delivery of Government services for the highly successful World Youth Day 2008. Roy has been an Executive Director within the NSW Ministry of Transport in the position of Director Transport Operations Division. Roy has extensive experience in both operations and project leadership, particularly in the fields of transport and logistics. His experience includes a short Army career as a commissioned officer followed by a series of senior project and operational appointments within the NSW Government.

Disclosures: The ATPSL has no related party disclosures to declare.

2010-11 ANNUAL REPORT

CORPORATE GOVERNANCE

Australian Technology Park Sydney Ltd (ATPSL) is a wholly-owned subsidiary of the Redfern-Waterloo Authority (RWA).

The RWA was created by the NSW Government in January 2005 to manage public infrastructure, land and properties in the Redfern-Waterloo area and to foster commercial opportunities for local business. As a State significant site, Australian Technology Park (ATP) is part of the overall RWA urban renewal strategy for the Redfern-Waterloo area. The ATPSL Board of Directors is responsible for the corporate governance of ATPSL including setting the strategic direction, establishing goals for management and monitoring the achievement of these goals. The Board meets regularly to consider the progress of ATPSL with input from senior management relating to strategic direction and performance, while major reviews are held periodically throughout the year.

FINANCIAL REPORTING AND INTERNAL CONTROLS ATPSL’s auditing activities are overseen by an Audit & Risk Management Committee, which is a sub-committee of the Board. This Committee assesses the integrity of ATPSL management and the adequacy and appropriateness of internal controls and systems. Attending ATPSL Audit & Risk Management Committee meetings are representatives from RWA, Managing Director of ATPSL, the NSW Audit Office and the company’s internal auditor. The Audit & Risk Management Committee acts independently and is responsible for:

Water tower at ATP entrance

reviewing financial reports and accounting practices;

overseeing the internal and external audit programs;

reviewing management’s tracking and implementation of audit recommendations and actions;

reviewing the investigation of any breaches of conduct and professional ethics;

identifying major risks to which ATPSL is exposed and verifying that the internal control systems are adequate and functioning effectively; and

providing the Board with assurance that internal controls relating to fraud, security, legislative compliance and code of conduct issues are functioning effectively.

Statement of Business Intent The Statement of Business Intent (SBI) establishes financial performance targets for the organisation based on forecast financial returns. The NSW Treasury monitors a quarterly SBI against these targets. ATPSL’s actual result for 2010-11 is a profit of $2.0m against a budgeted profit of $846k. The company recorded a surplus profit of $1.2m ahead of budget. The Investment Property balance at year ended 30 June 2011 moved from 2010: $64.0m to 2011: $64.9m (a nett movement of $900k). ATPSL has continued to grow under the ownership of the RWA while consistent consolidation and restructuring within the organisation continues to deliver significant profits and positive cash flows.

AUSTRALIAN TECHNOLOGY PARK

Standards of Behaviour and Environmental Management Policy ATPSL has its own Staff Code of Conduct and Environmental Management policies both of which were developed in accordance with the principles of ethical decisionmaking and the public sector values of respect for the law, system of Government and the community and its people; along with integrity, diligence, economy and efficiency, and accountability. These values and principles are expected from all ATPSL employees - including its Executive Managers, permanent and temporary staff, consultants and contractors. A copy of the Staff Code of Conduct is also provided to new employees. Through its own work, ATPSL is committed to managing the environment by balancing the demands of heritage conservation, commercial activation, community expectation and cultural diversity. The focus of the Environmental Management Policy is on a ‘beyond compliance’ culture that embraces a performancedriven objective management program delivering increased stakeholder value. Success will be demonstrated by cultural acceptance of implementing environmental management as a specific consideration that is acknowledged within all business processes and fully understood by all staff as part of their responsibilities. ATPSL aims to achieve Place Management Leadership in the management of its environment, and its support of ecologically sustainable development. This reflects the vision of creating a safe and dynamic place to work by providing living precincts and rewarding partnerships.

11 undertaken to improve site safety and staff training was completed to increase OHS awareness among staff and clients. Significant OHS outcomes in 2010/11 include the: --

upgrade of the Locomotive Workshop fire sprinklers for Bays 10-14;

development and implementation of a fire engineered solution for the Locomotive Workshops;

development and implementation of contractor management checklist;

completion of two external audits and corrective actions;

review of the OHS system Risk Management assessment matrix; and

review of the Contractor Handbook.

Procurement Systems and Efficiencies

upgrade to the flooring of Bays 1 & 2 South Workshop;

review of 19 overhead cranes for structural integrity;

upgrade of LPG storage facilities and procedures;

revision of ATPSL gardeners’ safe work method statements;

development of emergency evacuation procedures for Eveleigh Market and ATP;

training for fire warden, first aid, traffic management, use of LPG equipment, working at heights, and forklift operation;

development and implementation of Conference Centre Egress Video;

value for money - as in benefits achieved compared to whole-of-life costs;

review of exit / directional signage for Locomotive Workshop;

efficiency and effectiveness;

implementation of Environmental Management Plan including ground water testing, air quality assessments and site capping assessment;

probity and equity; and

effective competition.

completion of plant assessment report for machinery in Bays 1 & 2; and

Occupational Health and Safety

Central to the organisation’s OHS management in 2010/11 was the completion of the Corporate OHS Plan and site risk assessments, resulting in 40 corrective actions initiated to eliminate or minimise workplace hazards. In addition a number of upgrades were

development and implementation of event management checklist;

ATPSL continues to uphold the highest standards of occupational health and safety ensuring the wellbeing of tenants, visitors to the Park, suppliers, contractors, staff and onsite workers.

purchase of 1,000 new chairs for events, to ensure compliance with egress requirements;

the implementation of manual handling risk assessments for Events and Eveleigh Market.

To assist with improvements in policy and procedures and management, system development activities undertaken during 2010/11 included: --

review and/or development of OHS Policy, Procurement Policy, Grievance Policy, Harassment Bullying & Unacceptable Behaviour Policy, Conference Centre Egress Policy, LPG Policy, Corrective Action Procedures, Hot Works Permit, Food Hygiene Procedures, and Fire Impairment Procedure;

The ATPSL Procurement Policy was developed to ensure all work is allocated equitably and in respect of the principles and guidelines as required by Government and company policy. ATPSL has a standard method of procuring goods, services and work that is consistent across the organisation, with risks adequately assessed and managed, and duplication of effort and research avoided. Our suppliers understand what is expected of them and are required to deliver in accordance with those expectations. All procurement is performed in accordance with probity policies. Key principles underpinning the Policy are:

Privacy Management Policy ATPSL applies a Privacy Management Plan to its operations to meet the requirements of the Privacy and Personal Information Protection Act 1998. ATPSL collects and maintains a limited amount of personal information relating to its tenants and, to a lesser extent, its service providers, while sstaff are required to familiarise themselves with the Policy and integrate it into the management of their own work practices. The General Manager is the company’s Privacy Officer and the person to be contacted on all privacy matters. The complete Privacy Management Policy is available to key stakeholders and the public.

2010-11 ANNUAL REPORT

12 Faculty of Agriculture, Food and Natural Resources, University of Sydney: Home away from home

INNOVATION

Fostering innovation and cutting edge advancement, ATP is home to leading emerging businesses in technology, life sciences, media, agriculture, the environment and communications.

When the University of Sydney’s Faculty of Agriculture, Food and Natural Resources was left without a suitable home on the University Main Campus in late 2009, two floors in the ATP Biomedical Building were considered as an interim solution. Less than two years later, the Faculty’s Dean, Professor Mark Adams, couldn’t be happier with the arrangement. His researchers and students now occupy three floors of the building and several modern research laboratories have been built onsite by the university for research and teaching purposes. “The Faculty was previously located over a number of different buildings on the main campus so it was difficult to create a feeling of unity amongst researchers, postgraduate and undergraduate students. The opportunity to house the entire faculty together in the Biomedical Building at ATP has helped to create a tighter community, with the benefit of being situated close to the main campus and public transport,” said Professor Mark Adams. “Access to modern laboratory facilities has been of great benefit to researchers and students, as has the Park’s culture of innovation, knowledge-sharing and nurturing.”

Dr Lindsay Campbell

Dr Lindsay Campbell, Director of Strategic Projects and an academic in the Faculty, agrees: “The space is conducive for our research so we wanted to expand and consolidate others of our group. It’s very convenient to Redfern Station - more than 95% of our staff and students use public transport, walk or cycle. A footbridge to the university would be an added bonus but we are very pleased with the environment and high level of security.” Research and postgraduate and undergraduate teaching undertaken by the Faculty covers areas including food chemistry, soil science, sustainable ecosystems, biogeochemistry, impact of bushfires, plant diseases, water quality, climate change and biofuels, amongst others. In alignment with ATPSL’s commitment to sustainability best practice, PhD students from the Faculty are exploring the interactions and synergies between agriculture and the environment, with the goal to improve the environment, provide abundant healthy food products and contribute to Australia’s and global food security.

Research laboratories for the Faculty of Agriculture, Food and Natural Resources USYD

AUSTRALIAN TECHNOLOGY PARK

CEO Victor Skladnev and the AiMedics team

AIMEDICS: Persistence pays off Occupying space in ATPSL’s National Innovation Centre for the past 10 years, AiMedics is no newcomer to Australian Technology Park (ATP). But CEO Victor Skladnev still considers the decision to the house medical device company in close proximity to other cutting edge businesses a move he’s yet to regret. “We moved to ATP as a new startup in 2001 because the early investors were looking for a space that offered flexibility and room for expansion,” he said. As it turns out, the Park has offered far more than just room to grow. “ATP has proved to be an appropriate working environment for our team, particularly as we have reached critical mass this year in the development of our HypoMon product for young people with Type 1 Diabetes Mellitus,” Mr Skladnev said. “ATPSL’s nurturing environment has also allowed us to easily keep up to date with Government programs and simplified our engagement and access to advisors.”

Later this year, the clinically-tested HypoMon product will go on sale in Australia and Europe for the first time. The monitoring system is non-invasive and promises to significantly reduce the incidence of nighttime hypoglycaemia (low blood sugar) for sufferers of insulin dependent diabetes. Development of the system has been funded through a series of investment and government grants over the past 10 years from organisations including BIF, NSW Government, Juvenile Diabetes Research Foundation (through UTS) and the Australian Government.

“ATPSL’S NURTURING ENVIRONMENT HAS ALLOWED US TO EASILY KEEP UP TO DATE WITH GOVERNMENT PROGRAMS AND SIMPLIFIED OUR ENGAGEMENT AND ACCESS TO ADVISORS.”

The product was awarded a prestigious 2011 Australian International Design Award in recognition of design excellence.

AiMedics workshop

HypoMon, 2011 Australian International Design Award winner

2010-11 ANNUAL REPORT

HERITAGE AND SUSTAINABILITY

ATPSL is committed to preserving the history and heritage of the Park through preservation, maintenance and sustainability practices that reduce ITS environmental impact and promote the rich history of the area.

Heritage equipment

Maintaining respect for the past

Maintaining respect for the land

As a State significant heritage site under the jurisdiction of the Redfern-Waterloo Authority (RWA), ATPSL is responsible for maintaining and preserving the heritagelisted assets located and placed throughout the Park, including the historic Locomotive Workshop, rail yards, buildings and industrial machinery and equipment.

The earliest inhabitants of the ATP site were the Gadigal people and the Eora Nation. Out of a deep respect for the land and what it could yield, they maintained the site for over 40,000 years ensuring environmental balance and sustainability. Today, as custodians of the site, that challenge has been passed to ATPSL. In the wake of over a century of intensive industrial use, ATPSL is reviving a commitment to minimising the environmental impact of the ATP site on the wider community.

ATPSL works closely with RWA and specialist heritage consultants to ensure appropriate measures are taken to preserve and promote the history and heritage of the site. In October 2010, a special field day was held at Australian Technology Park in conjunction with RWA to share and record the history of the Eveleigh Rail Yards and shape the RWA Eveleigh Heritage Interpretation Plan. The community event was a great success with many stories shared. In the second half of 2010, an upgrade of Innovation Plaza, located between the National Innovation Centre and Locomotive Workshop, was completed. One of Australia’s oldest existing pivot cranes was installed in the park as a permanent display, along with a refurbished steam crane. To complement the pieces, heritage beam seating and planter boxes and new lighting displays and signage were also added to the pedestrian plaza. In the coming year, projects for additional wayfinding and signage are scehduled for completion, as well as heritage repair works to Bays 1 and 2 North and the façade of the Locomotive Workshop. A heritage volunteers group has been established to work with ATPSL to assist visitors to the Park learn more about the site’s heritage, help catalogue the heritage assets and assist with projects to conserve and refurbish heritage equipment, machinery and other assets.

Like safety, sustainability is now a consideration in every business decision undertaken at ATPSL. Management has embraced sustainability, not only as a natural element of its corporate and social responsibility, but because it will deliver a lower operating cost structure which translates to a more competitive pricing formula for clients and tenants. The organisation is also engaging with tenants, contractors and suppliers to actively encourage them to commit to a Sustainability Code of Practice. To deliver against this commitment, in 2010/11 ATPSL developed a time-based Sustainability Action Plan for achieving specific measurable targets by 2012, with visionary targets for 2020. The plan, developed in consultation with the NSW Department of Environment, Climate Change and Water (DECCW) provides a blueprint for the implementation of energy efficiencies, solar power generation, rainwater capture and re-use, more efficient water usage (such as using drought resistant plants) and minimising waste to landfill. ATPSL believes that by ensuring existing buildings become energy efficient rather than demolishing them to develop new buildings, it is significantly minimising its overall environmental impact by avoiding resource-intense rebuilding activities. ATPSL respects the view that ‘the greenest building is one that already exists’.

AUSTRALIAN TECHNOLOGY PARK

To assist in developing a proactive and collaborative approach with all relevant stakeholders and tenants, ATPSL formed a Sustainability & Innovation Committee in late 2010. Established to foster knowledgesharing, collectively exploit opportunities and attract environmentally-responsible businesses to ATP, the Committee provides the opportunity for Park tenants to share sustainability ideas and initiatives and discuss sustainability best practice.

Sustainability targets: Progress mid-way through the target period

Sustainability Strategy In May 2011, the ATPSL Board endorsed ATPSL’s Sustainability Strategy targets for the 2011/12 financial year. These targets specify reductions in resource usage and waste to landfill compared with the 2009/10 financial year. During 2010/11, as part of the Sustainability Strategy, a number of key sustainability initiatives were implemented across the identified target areas of water consumption, energy usage, waste to landfill and environmental harm prevention.

The replacement of existing motion detection sensors to optimise water flow for the flushing of urinals in the Locomotive Workshops. Refurbishment of the Bay 9 washrooms with waterless urinals, which will become standard across ATP.

Upgrade of the irrigation system for all gardens to include a drip feed system and watering regime.

Implementation of a landscaping management plan incorporating use of native plants, drought-resistant vegetation and an enhanced lawn management protocol.

TARGET REDUCTION BY JUNE 2012

ELECTRICITY

22%

15%

GAS

26%

15%

WATER

22%

15%

WASTE TO LANDFILL

16%

30%

Reduction of electricity consumption through Building Management System (BMS) optimisation for the NICTA, Biomedical and Locomotive Workshop Buildings, use of photoelectric switching and circuit zone and switching optimisation, and purchase of Green Power from energy retailers.

Construction of a 61kW solar power system on the roof of the NICTA Building. Deploying high efficiency single crystal photovoltaic technology, the system is on track for commissioning by end September 2011. Surplus electricity generated on weekends and public holidays will be fed back into the public grid.

Purchase of a Toyota Prius powered by Hybrid Synergy Drive as part of the organisation’s transport fleet.

Significant achievements as a result of the Sustainability Strategy included, but were not limited to: --

REDUCTION ACHIEVED BY JUNE 2011

The following initiatives are being evaluated for future opportunities or will be implemented in the coming year under ATPSL’s Capital Works Program (CWP). --

Rainwater capture and re-use, such as flushing water for washrooms in the NICTA building, will provide a valuable reduction in mains water consumption. Waterless urinals are already in operation in the building.

ATPSL is also investigating the responsible disposal of e-waste (redundant computers, monitors, office devices, etc) for all tenants and the introduction of a compostable waste stream for tenants using the same cleaning contractor.

Comprehensive replacement of conventional fluorescent tubes and metal halide lights with Induction and LED efficient lighting technologies together with sensors that ensure indoor lights are only switched on when required is planned.

Solar panels on the NICTA rooftop

2010-11 ANNUAL REPORT

COMMUNITY

Located in the heart of Sydney’s inner city where a strong sense of community exists, ATPSL is committed to maintaining and strengthening its links with local residents and the local community, whilst also providing a dynamic environment to nurture the innovators who make up its business community.

As well as participating in many industry conferences and expos to promote its services, ATPSL joined stakeholders Elcom, ATP Innovations, Consult Point-Aringya and CSN Technologies, to host an exhibitor’s stand at CeBIT 2011, the largest ICT event in the world. The event provided the opportunity to showcase ATPSL’s services as well as the achievements of the tenants to key local and global players in business, strategy and technology sectors. The feedback received from the partners involved was very positive. The organisation is an active community member through involvement in a range of initiatives to support the local youth and indigenous communities as well as community events such as the highly successful Eveleigh Market.

Eveleigh Market - Farmers’ Market and Artisans’ Market ATPSL’s Eveleigh Market is a well established and recognised brand in the local community. Occupying space under the heritagelisted Blacksmiths Workshop, Eveleigh Market operates two traditional-style marketplaces: the weekly Eveleigh Farmers’ Market and the monthly Eveleigh Artisans’ Market. In addition, a range of community events are hosted to better engage with the local community.

Highlights In January 2011, an online booking system was implemented, making it easier and more efficient for stallholders to book stalls. A social media marketing plan was introduced in early 2011 to build an online community of followers and communicate news and events via Facebook and Twitter. New branding was developed, with the new tag line “Produced with Love” becoming an integral part of the marketing strategy. Both the Farmers’ Market and the Artisans’ Market also underwent branding revamps as part of an overhaul of advertising and marketing material. The 2010 Eveleigh Market Christmas Banner Competition attracted 11 entrants with Alexandria Park Public School taking out Best Christmas Banner and Darlington Primary School winning the People’s Choice Award. The Hon. Carmel Tebbutt, Deputy Premier of NSW, presented the Awards.

Eveleigh Farmers’ Market Eveleigh Farmers’ Market has also continued to grow in reputation, stallholder numbers and attendance. With an average of 3,500 people visiting each week and over 70 stallholders, the 2010/11 customer attendance rate increased by 7.7% compared to the previous year and the stallholder average attendance increased by 5.7% compared with 2009/10. A weekly ritual for many locals and Sydney food lovers, the Saturday morning market attracts a wide cross-section of the local community as well as many of Sydney’s top chef’s including Justin North (Quarter 21 and Becasse), Christine Manfield (Universal) and Elvis Abrahanowicz and Ben Milgate (Porteno and Bodega). Kylie Kwong (Billy Kwong) and Alex Herbert (Bird Cow Fish) both have a weekly stall at the market.

THIS YEAR, THE MARKET WAS AWARDED OUTSTANDING FARMERS’ MARKET IN THE 2011 DELICIOUS PRODUCE AWARDS, BEATING FARMERS’ MARKETS FROM ACROSS AUSTRALIA.

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This year, the Market was awarded Outstanding Farmers’ Market in the 2011 Delicious Produce Awards, beating farmers’ markets from across Australia.

Eveleigh Farmers’ Market

In January, the Adelaide Fringe Festival brought its promotional tour to the Market and later in the year, Travelicious Food Tours and Quarter 21’s cooking school began visiting the market as part of their activities.

Eveleigh Artisans’ Market Held on the first Sunday of the month, stallholder numbers at the Eveleigh Artisans’ Market grew significantly during 2010/11, reflecting the popularity of the market as a place for emerging and contemporary independent designers, artists and makers to showcase and sell their wares directly to the public. The market attracts over 1,500 people each month and during 2010/11, the stallholder attendance rate increased by 13% compared with 2009/10.

Stall holder at the Eveleigh Artisans’ Market

Rabbitohs players support Souths Cares

Souths Cares ATPSL is a proud supporter of the Rabbitohs Souths Cares Program, the charitable arm of the South Sydney Football Club. Souths Cares supports programs that encourage youth to achieve their goals through education, training and employment in the South Sydney and Coffs Harbour regions. Since signing the sponsorship agreement in 2009, ATPSL’s partnership with South Cares has continued to grow with several new initiatives introduced and supported during 2010/11. Kylie Kwong (Billie Kwong) at the Eveleigh Market

2010-11 ANNUAL REPORT

18 COMMUNITY (CONT)

U17s Redfern 9s In May 2011, ATP, South Sydney Rabbitohs and the NSW Rugby League joined forces to showcase rugby league and the way the game can bring harmony into the community with the U17s ATP Redfern 9s competition, held at Redfern Park. NRL players including Chris McQueen, James Roberts and Nathan Peats attended the day to support more than 200 junior players competing in heritagebased sides including Indigenous, Maori, Samoan, Fijian and Middle Eastern. Roy Wakelin-King AM, Managing Director of ATPSL, was delighted with the success of the event, saying: “The U17s ATP Redfern 9s really brought the community together. It was fantastic to see so many players from different backgrounds enjoying themselves and celebrating a real sense of unity and inclusion.”

Teachers Aide Program ATPSL’s support for the Souths Cares Teachers’ Aide Program for school children has continued and was expanded to include an achievement program to recognise and reward positive behaviour and successful learning outcomes for the students.

Under 17s at Redfern Oval

Focused on numeracy and literacy activities for primary school children, 18 players from the Rabbitohs are involved in the 2011 program and attend weekly sessions at local primary schools. Further training is currently being developed to allow one-on-one mentoring and to provide players with greater skills to assist the children. The Teachers’ Aide Program is assessed on an ongoing basis to ensure relevant outcomes are achieved. Reviews conducted by Regional Directors of the Department of Education and Training have shown strong and positive feedback from school principals, staff, community elders and pupils.

Healthy and Active Lifestyle Program Supported by ATPSL and with assistance from the Indigenous Allstars and ‘Learn Earn Legend’, Souths Cares expanded its partnership with Life Education to roll out the Healthy and Active Lifestyle Program to all Year 5 and 6 students in the South Sydney catchment area. This program combines the NRL initiative, ’Eat Well, Play Well, Stay Well’ and two Life Education programs, ‘All Systems Go’ and ‘Think twice’, to offer kids a fun and educational excursion outside of the school environment, where South Sydney players will join in and share their own healthy lifestyle choices with the kids.

There was a growing need amongst the South Sydney corridor of schools after consultation with principals revealed that most schools had discontinued their link with Life Education because of cost and that most parents are not able to afford extracurricular activities on top of sport and in-school commitments. With the help of ATPSL, the program is now offered to more than 30 primary schools in the South Sydney region.

Indigenous Leadership Program (School to Work Transition) ATPSL is also lending its support to a new Indigenous Leadership Program developed during 2010/11 and launched in August 2011 to engage Year 11 and 12 Aboriginal and Torres Strait Island pupils in developing their own education and employment outcomes. The program focuses on self-esteem building through a greater understanding of culture. The sessions lead into employability skills such as resume building, goal setting, interview technique, grooming and etiquette, leading to employment outcomes. The uniqueness of this program is that it will engage corporate partners, community groups and NRL players who will become mentors. This mentoring phase is a key component of the program and will continue well beyond the school gate.

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19 Redfern Brand signage at ATP

Other highlights In a special community event, over 750 children attended the ‘One Community Carnival’ at Australian Technology Park Performance Centre in February 2011 to promote the ‘Eat Well, Play Well, Stay Well’ campaign. Additionally, a footy clinic was held for more than 400 children, providing the opportunity to meet favourite Rabbitohs players and learn some footy tips. Indigenous students of Saint Ignatius’ College, Riverview and the non-indigenous students from the Year 11 and 12 Aboriginal Studies classes visited the Australian Technology Park Performance Centre at Redfern Oval as part of a project focusing on the importance of physical activity for the Indigenous Youth of Redfern. With support from ATPSL, the Rabbitohs were kitted out in blue hoodies in July 2011 in recognition of the Australian Indigenous Mentoring Experience (AIME) National Hoodie Day. AIME delivers a dynamic mentoring program that links mainly non-Indigenous university students one-on-one with Indigenous high school students. The ultimate goal is to see all participating Indigenous kids finish school at the same rate as every Australian child.

Social media

Redfern Brand ATPSL has thrown its support behind a new branding initiative to promote Redfern and the surrounding suburbs of Waterloo, Darlington and Eveleigh as a welcoming and vibrant place for business and recreation. An initiative led by the Roll Up Redfern Group, comprising Redfern-Waterloo Authority, City of Sydney, South Sydney Business Chamber, South Sydney Rabbitohs and REDWatch, the Redfern Brand was launched in February 2011 to help change the perceptions of Redfern and encourage more businesses and visitors to the area. The new logo - in the shape of a smile captures the welcoming spirit of the area and is designed to highlight the positive developments in and around Redfern.

In addition to hanging Redfern banners throughout the Park, ATPSL has also supported the Redfern Brand promotion through active involvement in campaigns including a promotion at Redfern Station involving Redfern Ambassadors handing out free Redfern goodie bags to commuters. ATPSL donated a free Eveleigh Market voucher for each bag. As a significant member of the community, ATPSL is proud to be involved in helping promote Redfern to the wider community.

ATPSL is developing an effective social media management strategy to help build a positive online presence. Still under development, the primary objective is to support and promote two pillars of ATPSL’s positioning - Innovation and Community. ATPSL’s social media strategy will take many different forms, including internet forums, weblogs, social networking, micro blogging, wikis, podcasts, photographs or pictures, videos, ratings and social bookmarking.

2010-11 ANNUAL REPORT

ATPSL Operational Structure

OPERATIONAL STRUCTURE AND PERFORMANCE

Executive Management

Property Services

Finance & Corporate Services

Conference & Exhibition Centre

Eveleigh Market

Key Business Objectives

ATPSL YEAR TO YEAR COMPARISON 25,000

20,000

15,000

Customers & stakeholders

Invest in Companyâ&#x20AC;&#x2122;s objectives

Provide high quality service

Effectively communicate with stakeholders

Liaise with the community

People & Business 10,000

5,000

2006-07

2007-08

Total Revenue

2008-09

2009-10

2010-11

Communicate effectively and consistently

Maintain strong leadership, recruitment and retention

Support a safe and healthy workplace

Ensure a strong corporate governance

Promote and facilitate environmental awareness

Encourage business growth and improvement

Financial

Property Revenue

Consolidate financial profitability

Conference Centre Revenue

Increase revenue returns

Implement savings initiatives

Cost of Sales

Examine capital investment options

Profit before Non Operating costs

Improve asset utilisation

Operating Costs Employee Related Expenses

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21 Exhibition Hall

2010-11 ANNUAL REPORT

ATPSL Executive Management Team

MANAGEMENT AND ACHIEVEMENTS

Australian Technology Park Sydney Limited (ATPSL) is a wholly-owned subsidiary of the Redfern-Waterlook Authority (RWA).

Roy Wakelin-King AM Managing Director

Chris Saunders General Manager

Roula Zivlas Director Finance and Corporate Services

Ruby Chronis Director, Sales & Marketing

Graham Stevens Director, Property Services

Ariana Aljinovic Executive Manager, Eveleigh Market

The responsibilities of the Executives are carried out in respect of and in accordance with the following objectives: --

to revitalise surplus government land through the creation of a dynamic innovation and technology precinct;

to capitalise on the economic and cultural potential of the Park as a place for the growing population of Sydney to visit and work;

to balance the economic return, vibrancy and diversity of the Redfern and Waterloo communities; and

as custodians, to promote a sense of community ownership through preservation and interpretation of the natural, built and heritage significance of the site.

The Executives are responsible for: --

The day to day management of ATPSL;

Encouraging innovative technology;

Ensuring continued development of the built environment; and

Preserving and enhancing the Parkâ&#x20AC;&#x2122;s heritage status.

ATPSL HAS CONTINUED TO GROW UNDER THE OWNERSHIP OF THE REDFERN-WATERLOO AUTHORITY, WHILE CONSOLIDATION AND RESTRUCTURE WITHIN THE ORGANISATION HAS DELIVERED IMPROVED VIABILITY.

ATPSL has continued to grow under the ownership of the Redfern-Waterloo Authority, while consolidation and restructure within the organisation has delivered improved viability. This was further achieved by the enforcement of strict financial disciplines and implementation of a number of key management initiatives: --

A continual focus on skills alignment throughout core operations;

Adherence to strict financial disciplines and the streamlining of financial and property management systems to meet increasing business demands;

A sustained occupancy rate averaging 98.2 per cent

Further renewed interest in the availability of space generated by current and proposed on-site development;

Major employment and financial investment in the Parkâ&#x20AC;&#x2122;s future prosperity with completion of the 8 Central Avenue (Media City) and an influx of approximately 2,000 new full time employees within the Park;

Strategic marketing of the Conference & Exhibition facilities to major event producers and suppliers; and

Strengthening of local and international industry and government alliances through visiting delegations and networking ventures.

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23 Executive Managers

2010-11 ANNUAL REPORT

24 MANAGEMENT AND ACHIEVEMENTS (CONT)

Precinct Management Australian Technology Park Sydney Limited (ATPSL) is responsible for the day-to-day management of the park for the benefit of its tenants, stakeholders, customers, industry partners and the general community. Previously known as Australian Technology Park Precinct Management Limited (ATPPML), the new name was introduced in July 2011. It captures the true essence of Australian Technology Park, incorporating ATPSL’s business areas including Conference and Events, Property Services and Eveleigh Market. The new name promotes the Park as a destination of choice for both business and events. In conjunction with the name change, ATPSL has implemented a brand strategy to promote the Park as a vibrant and innovative destination with the new name bringing coherence to the services it offers. Roy Wakelin-King AM, Managing Director of ATPSL, said: “The name change and accompanying brand strategy has been an exciting and significant development for Australian Technology Park. It is proving to be an excellent tool to promote the Park as an innovative place to do business.”

Finance and Corporate Services team

More than 100 organisations employing in excess of 2,000 people currently occupy space in the ATP Locomotive Workshop, Biomedical Building, National Innovation Centre (NIC), International Business Centre (IBC), NICTA facility, Media City and the RTA & Ambulance buildings. During 2010/11, vacancy rates remained at an average of 1.8 per cent (City fringe is approximately 7.5 per cent), while current and future development will create additional space for lease.

ATP also has a number of high-profile partners in the wider business community, industry associations and the media, while support networks are available to facilitate knowledge-sharing and information exchange on a global scale. Customers include businesses residing at the Park, contractors and suppliers, Conference & Exhibition Centre clients, national and international delegations, study tours, local residents and prospective future tenants. Matters completed in 2010/11 --

Bay 4 Locomotive Workshop Dining room refurbished;

Bay 4 Dining room upgraded with new traxon lighting;

carpet replaced in Bay 4 and Dining Room;

refurbishment of Commercial offices Bay 15 Locomotive Workshop;

upgrade of Bay 9 Locomotive Workshop amenities;

upgrade of Bays 1 & 2 South flooring;

meeting room carpets replaced;

minor refurbishment of Management office;

plasma Information Display installed in Bay 8 Locomotive Workshop.

Property Services The Property Services team comprises a group of property specialists responsible for the management of the Park’s property assets. Their responsibilities include: --

achieving commercial rentals on all tenancies;

minimising vacancies;

maximising net income;

ensuring compliance with all relevant legislation;

ensuring all physical assets are properly maintained;

arranging necessary upgrades and refurbishments; and

ensuring maximum capital value of the property assets.

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During 2010/11, the Property Services team undertook a number of projects to enhance facilities for tenants and clients and preserve the heritage-listed assets of ATP. A number of refurbishment project for heritage-listed assets were completed. For details see ‘Heritage Management’ below. A number of other refurbishment projects incorporating sustainability initiatives were completed in the past year, including renovation of the Bay 9 male and female amenities, and Bay 4 Atrium and Dining Room. New carpet and state-of-the-art lighting was also added to the Bay 4 facilities. Other significant projects included a sprinkler upgrade in the Exhibition Hall, and the installation of a new video wall in Bay 8. In the coming year, projects for additional wayfinding and signage are scheduled for completion, as well as heritage repair works to Bays 1 and 2 North and the façade of the Locomotive Workshop.

Tenancy While no new tenants secured space during 2010/11, Sydney University signed a new nine year lease for Level 1 and Suite 301 in the Biomedical Building from March 2011. In addition, Fuji Xerox expanded within the Locomotive Workshop by taking 210m2 in Suites 9109-10 from April 2011.

Property Services team

Heritage Management Refurbishment of Innovation Plaza, between the heritage National Innovation Centre and Locomotive Workshop was completed in late 2010 with the installation of two heritage cranes - a pivot crane and locomotive steam crane - as permanent static displays. Additional heritage beam seating and planter boxes were also installed, along with new lighting and signage to enhance the high-pedestrian area. Further heritage repair works to Bays 1 and 2 North and the façade of the Locomotive Workshop are scheduled for 2011/12. In October 2010, a special field day was held at ATP, in conjunction with RWA to share and record the history of the Eveleigh Rail Yards and gather input for the RWA Eveleigh Heritage Interpretation Plan. The community event was a great success with many stories shared. A heritage volunteers group has been established to work with ATPSL to assist visitors to the Park learn more about the site’s heritage, help catalogue the heritage assets and assist with projects to conserve and refurbish heritage equipment, machinery and other assets.

Finance Management Financial Management’s primary focus is to streamline and automate ATPSL’s financial processes to increase the efficiency of the financial operations and sustain ongoing profitability. Initiatives to date include: --

implementation of the Oakton Business System review to assess the current system processes and provide initiatives to improve operations;

interface builds that automate information transfer from business systems into the SAP Accounting System;

development of a new Property Asset Management System to increase the functionality and efficiency of the Property Services business;

review, update and adherence of all financial policies and procedures; and

adherence to financial guidelines.

REFURBISHMENT OF INNOVATION PLAZA, BETWEEN THE HERITAGE NATIONAL INNOVATION CENTRE AND LOCOMOTIVE WORKSHOPS WAS COMPLETED IN LATE 2010 WITH THE INSTALLATION OF TWO HERITAGE CRANES.

2010-11 ANNUAL REPORT

26 MANAGEMENT AND ACHIEVEMENTS (CONT)

Information, Communication and Technology (ICT) Management

Conferencing and Event Management

ATPSL prides itself on the state-ofthe-art and high quality facilities and technology services provided to staff, tenants, customers and visitors.

Upholding its reputation in excellence, high-quality service and creativity, ATPSL’s Conference and Event team delivered a range of gala dinners, awards nights, exhibitions, festivals and other events to new and existing clients during 2010/11.

During 2010/11, a significant wireless upgrade was undertaken in the Conference and Exhibition Centre, doubling network capacity to provide for 512 concurrent wireless users with 100mg symmetrical bandwidth to the Internet using the world-class Aruba System. From an organisational perspective, all ATPSL desktops were upgraded to Microsoft Windows 7 Professional and Microsoft Office 2010, a new business continuity system was installed to guarantee server up-time, network infrastructure was expanded and all switches replaced in the communications rooms, a new document management system was installed and Citrix remote access was introduced.

The Centre’s state-of-the-art facilities were enhanced further with a computerised lighting system installed in the Dining Room, new sprinkler’s fitted in the Exhibition Hall and amenities in Bay 4 refurbished in accordance with sustainability initiatives.

Corporate Services Corporate Services provides services to ATPSL and manages implementation of the development of operational strategies including: --

providing budgeting, financial management, human resources management, information technology, general administration and payroll services;

providing administrative support for the company and the Board and liaising with other companies and government agencies;

A new video wall was installed in Bay 8 to enhance service provision to clients.

Conference and Event Centre team

handling GIPA legislation, ensuring correct corporate governance and satisfying government agency reporting requirements;

development of new document records management system, to automate document workflow; and,

outsourcing and automating of payroll reporting and data transfer to the accounting system.

MARKETING ATPSL completed the first stage of a new strategic marketing plan which includes ‘The Style Guide’. The Style Guide outlines the essential elements of ATPSL’s corporate identity. It defines the core elements of the identity and establishes clear guidelines for using the logo and grid structures as they apply to the majority of publications that ATPSL produces. ATPSL logo and positioning, digital strategy and website development were the focus for phase one. As part of the project, positioning statements were completed for ATLSP (Innovation Sustainability Community), Conference Centre (Sydney’s most unique and versatile venue) and Eveleigh Market (Produced with Love).

Networking & Community Relations Building and maintaining a close community network is fundamental to ATPSL. Each year, a range of initiatives is implemented to encourage knowledge sharing, networking and innovation exchange, particularly amongst tenants and the leading innovators who call ATP home. Eveleigh Market team

AUSTRALIAN TECHNOLOGY PARK

Right: Sculptural ventilation system at ATP entrance

The organisation also strives to strengthen ties with the local community and residents and related business communities. Networking initiatives in 2010/11 included the following: --

ATPSL’s Tenants Biggest Morning Tea on 26 May 2011 which raised $930 for the Cancer Council with ATPSL matching tenant donations dollar for dollar.

The Under 17s ATP Refern 9s football competition presented by South Sydney Rabbitohs and the RL to showcase rugby league and the way the game can bring harmony into the community. More than 200 local junior players competed in the heritage-based sides, making for an entertaining community event.ATPSL Melbourne Cup celebration in Bay 8, for tenants to socialise in a relaxed environment.

Development of an effective social media management strategy to help build a positive online presence.

ATPSL has also worked closely with the wider business community to foster new relationships, support local businesses and assist ATP tenants. During 2010/11, together with stakeholders Elcom, ATP Innovations, Consult PointAringya and CSN Technologies, ATPSL exhibited at CeBIT 2011, the largest ICT event in the world. The event provided the opportunity to showcase ATPSL’s services as well as the achievements of the tenants to key local and global players in business, strategy and technology sectors. The feedback received from the partners involved was very positive. ATPSL also worked closely with Business Events Sydney and Tourism Australia to increase involvement in international event bids and target key global markets including Asia, Europe and North America. ATPSL representatives attended the Business Events Asia Roadshow 2011, Business Events Sydney presentation on “A Global City through Business Events” and other networking and business opportunities. ATPSL has also thrown its support behind the community-led initiative to promote The Redfern Brand, which is helping to change the perceptions of Redfern and the surrounding suburbs and encourage more businesses and visitors to the area.

2010-11 ANNUAL REPORT

CONFERENCE AND EXHIBITION CENTRE Featuring state-of-the-art facilities that blend the old with the new in a unique heritage setting, the ATP Conference and Exhibition Centre attracts local and international events from all sectors of industry.

Channel 7 event in the Exhibition Hall

With a highly qualified and professional team, the Centre has earned a reputation in excellence, creativity and versatility. The combination of the site’s historic Locomotive Workshop and state-of-theart facilities has made it one of Sydney’s most unique and versatile conference and exhibition venues, accommodating a wide range of events each year. The site’s venues include an auditorium theatre, grand dining room and atrium, multiple breakout areas and exhibition spaces, conference rooms and a large Exhibition Hall, making the area suitable for events of any size. In 2010/11, the Conference and Exhibition Centre hosted one-off special events, multiday trade shows, festivals, conferences, dinners and exhibitions for new and existing clients including Qantas, Junior MasterChef Australia, NSW Health, Volkswagen, Rev. Dr. Stephen Tong, Jobsupport Inc, South Sydney Rabbitohs, InStyle Magazine, OzTech and HammondCare. Focus was also given to raising the Conference and Exhibition Centre’s domestic and international appeal through participation at event industry expos and conferences. In February 2011, ATP Conference Centre exhibited at the 19th Asia-Pacific Incentives & Meetings Expo, in conjunction with Business Events Sydney. This conference attracted 850 exhibitors from all over the world and provided the opportunity to build new partnerships and relationships.

Later in the year, ATPSL, in conjunction with Tourism Australia, participated in the Business Events Asia Roadshow, visiting Hanzhou, Bangkok, Singapore and Jakarta to showcase the ATPSL brand, ATP Conference and Exhibition Ceetnre and develop key international partners. Other opportunities for networking and new relationships, with a focus on business events, were sought through attendance at a number of presentations run by Tourism Australia and Business Events Sydney. To better service the needs of conference and event clients, ATPSL completed a wireless internet upgrade at the Conference and Exhibition Centre, doubling network capacity to 512 concurrent wireless users with 100mg symmetrical bandwidth using the world-class Aruba System. In October 2010, the upgraded system was used without issue by 200 concurrent users at the IWBNET event and by 70 concurrent users at the English Teachers Association Conference. The installation of a new computerised lighting system in the ATP Dining Room in Bay 4 also enhanced the space for clients. The room now has the ability to create special lighting effects such as flame and water effects, corporate colours, different themes, wall coverings, floating panels and light diffusers, allowing clients to control the mood and atmosphere of the space. “I really must congratulate you on the impressive re-vamp of the dining room area and the newly-installed computerised lighting system, a feature that attracted numerous positive comments from exhibitors taking booth space in that area during this year’s event. Providing more than mere illumination, the floor to ceiling lighting panels offered a combination of decorative flair with a wide choice of lighting colours and effects to subtly alter the room’s mood and help it perfectly match the occasion ... either as a venue for a state banquet or, in our case, a technical diving event.”

- David Strike, Convener from OzTek Diving Technologies Conference & Exhibition.

AUSTRALIAN TECHNOLOGY PARK

event HIGHLIGHTS of 2010/11 Junior MasterChef Australia Season 1

OZTek Dive Exhibition and Conference

July 2010

March 2011

The first season of Junior MasterChef Australia was filmed in July 2010 at ATP. Following the success of X-Factor and Australian Idol auditions at the site, the series filmed the Top 50 selection at the Park, with some 150 children, parents and series staff onsite.

Widely acclaimed as one of the world’s most dynamic and exciting diving spectaculars, the 8th OZTeK Diving Technologies Conference and Exhibition was held over two days in the Bay 4 Atrium, Dining Room and Theatre. With 500 delegates, the event included a full-scale Dive Exhibition, together with talks, displays, seminars, workshops, film and video presentations, industry updates, an ‘Evening With Diving’s Explorers’, a Gala Dinner and more.

Faith and Life Transformation, Evangelistic Rallies with Rev. Dr. Stephen Tong

Women in Style Awards

August 2010 2000 evangelists converged on ATP over two and half days in August to listen and learn from one of the most respected evangelists in the world. Dr Tong is a servant of God who has preached to more than 30 million people over a span of 53 years in Asia, Europe, Australia, and in North and South America.

K-12 Technology Congress May 2011 The 2011 K-12 Technology Congress was a resounding success, with more than 670 delegates in attendance, 33 speakers (including three internationals) and 37 exhibitors.

Souths Cares Red and Green Ball

Women in Style Awards

October 2010

May 2011

The Rabbitohs NRL and NYC squads joined sponsors and fans to celebrate their achievements on and off the field during the 2010 season at the annual Red and Green Ball. Presentations on the night included the George Piggins Medal to Issac Luke and a live countdown to the Jack Rayner Players’ Player award to Sam Burgess. A total of 750 players, supporters and sponsors filled the ATP Exhibition Hall.

The third annual Women of Sydney Awards, presented by InStyle Magazine and Audi was held at ATP, recognising inspirational Australian women from industries including fashion, beauty, lifestyle and the arts. More than 250 guests attended the glamourous Awards presentation, with high-profile identities turning out in full force to celebrate the achievements of the 28 Women of Style nominees.

Roy Wakelin-King Chief Executive Officer

NOVA event in the Exhibition Hall

HMAS Manoora Ball  May 2011

THE COMBINATION OF THE SITE’S HISTORIC LOCOMOTIVE WORKSHOPS AND STATE-OF-THE-ART FACILITIES HAS MADE IT ONE OF SYDNEY’S MOST UNIQUE AND VERSATILE CONFERENCE AND EXHIBITION VENUES.

Around 600 guests gathered in ATP’s Exhibition Hall in May 2011 to recognise the decommissioning of the HMAS Manoora at a special ball with dinner and dancing.

Fashion on show at ATP

2010-11 ANNUAL REPORT

30 Directors

Mr Michael Collins FRICS

The Directors of the Company at any time during or since the end of the financial year are:

Mike Collins is a Sydney property practitioner. He has been involved in property economics, real estate valuation, property consultancy and asset management for over 35 years, and is professionally qualified in property economics and valuation. He runs his own property advisory company based in the Sydney CBD. Mike is the Chairman of the Sydney Harbour Foreshore Authority and the Barangaroo Delivery Authority. He is a board member of the Redfern Waterloo Authority and ATPSL, a former Chairman of the Heritage Council of NSW and a former National and NSW President of the Australian Property Institute.

Dr Colin Gellatly AO – Chairman

DIRECTORS’ REPORT

The Directors of ATPSL (“the Company”) present their report together with the financial report of the Company for the year ended 30 June 2011 and the auditor’s report thereon.

B Ag Ec 9 (Hons) UNE, M Comm (Hons) UNSW, Ph D NC State, FIPAA Dr Col Gellatly AO was Chairperson of the Redfern-Waterloo Authority, as of 1 July 2007. Dr Gellatly AO is the former DirectorGeneral of the Premier’s Department, a role which he held since being appointed in 1994. He has held a number of senior management positions within the NSW public service, including as Director General of the Department of Land and Water Conservation. He is also Chair of Pillar Corporation, a member of the Board of State Water Corporation, a member of the UNE Council, member of Board of the NSW Rugby League and an Administrator, Wollongong City Council. Dr Gellatly AO has a degree in Agricultural Economics from the University of New England, a Master of Commerce from the University of NSW and a PhD from North Carolina state University.

Roy Wakelin-King AM Managing Director BPS (UNE) GDP Bus (UTS) Roy Wakelin-King AM was appointed the Managing Director on 16th February 2009. Prior to this, Roy was the Deputy Director General of the Office of Public Works & Services with the NSW Department of Commerce. Roy was also CEO of the World Youth Day Coordination Authority which coordinated the delivery of Government services for the highly successful World Youth Day 2008. Roy has been an Executive Director within the NSW Ministry of Transport in the position of DirectorTransport Operations Division. This role involved the leadership and management of a multi-discipline division that coordinated the delivery of essential public transport services to the public of NSW. Roy has extensive experience in both operations and project leadership, particularly in the fields of transport and logistics. His experience includes a short Army career as a commissioned officer followed by a series of senior project and operational appointments within the NSW Government.

Mr John Mulally BA LLB (Hons) John has almost 40 years experience as a lawyer specialising in major property and infrastructure projects. He has acted for major Australian and off-shore developers and investors, Australian and State Government instrumentalities and off-shore Governments. This has included the acquisition, development and sale of major projects in all capital cities of Australia as well as in Vanuatu, Jakarta, Bangkok, Singapore, Tokyo, London, Paris, St Petersburg, Kiev, Moscow and New York. He has also advised on major energy projects in Australia and off-shore. He is currently advising on major infrastructure and renewable energy projects in China and Africa. His role in these projects deals with the funding structure, legal requirements and the integration of the commercial with the legal outcomes required to achieve project development.

Mr Richard Johnson MBE M Phil (UCL) B.Arch Hons 1 (UNSW) FRAIA Richard Johnson is an award winning architect and a director of Johnson Pilton Walker Architects. He was awarded the 2008 RAIA Gold Medal for his exceptional body of work and his contribution to the profession. He is a Professor in the Faculty of the Built Environment at UNSW, A Fellow of the Australian Institute of Architects and a member of the Design Institute of Australia. He advises the Sydney Opera House Trust on the future of the building and is a member of the City of Sydney Design Advisory Panel. He serves on the Boards

AUSTRALIAN TECHNOLOGY PARK

of the RWA, the ATP and the Australian Architects Association. Mr Johnson holds a Bachelor of Architecture from UNSW and a Masters of Philosophy (Town Planning) from University College London. In 1976 he was made a member of the Order of the British Empire for services to Architecture.

Ms Lucy Hughes Turnbull AO LLB (Sydney), MBA (UNSW) Lucy Hughes Turnbull AO is a Director of the Board of Melbourne IT, an Australian publicly-listed internet services company with operations in North America, Europe and Asia. She is also a Board Member of ATP in Redfern, the Centre for Independent Studies, the Redfern Foundation Limited, the Turnbull Foundation and the Cancer Institute NSW. Lucy was Sydney’s first female Lord Mayor. (2003-4) and Deputy Lord Mayor (1999-2003). She served as a Councillor on the City of Sydney from 1999-2004 and chaired many council committees, including the Central Sydney Planning Committee, the Planning, Transport and Development Committee and the Finance and Audit Committees.

Ms Ann Weldon Ann Weldon is a proud member of the Wiradjuri Nation and was one of the founding members of the NSW Aboriginal Children’s Service. Ms Weldon has held executive positions and was a member of the Murawina Aboriginal Preschool, Aboriginal Housing Company, Metropolitan Local Aboriginal Land Council, Marrickville Aboriginal Consultative Committee, Aboriginal Housing Development Committee and ATSIC’s National Women’s Advisory and National Sport and Recreation Committees. Ms Weldon was a member of the Sydney ATSIC Regional Council for over 10 years, including a term as Chairperson. Ann was appointed to the inaugural Aboriginal Housing Board in 1998 as an ATSIC nominee and has remained Chairperson of the NSW Aboriginal Housing Board since her appointment in 2000.

31 Company Secretary

Company Particulars

The Company secretary is Mr Roy WakelinKing, AM. He has attended all Board Meetings and Risk & Audit Committee Meetings during the financial year.

It should be noted that on 20 April 2011 the Board of Directors resolved to change the name of the company to Australian Technology Park Sydney Limited (ATPSL) in order to more accurately reflect the brand recognition in the name Australian Technology Park in the general community. This name change was certified by the Australian Securities and Investments Commission on 6 May 2011.

Meeting of Directors The number of meetings of the Company’s Board of Directors during the year ending 30 June 2011 and the number of meetings attended by each Director is: Director

Board Meeting

Dr Colin Gellatly AO

Ms Lucy Turnbull AO

Mr Mike Collins

Mr John Mulally

Ms Ann Weldon

Mr Richard Johnson

Mr Roy Wakelin-King AM

Mr John Mulally was on approved leave of absence from 16/01/2011.

The Company’s Audit & Compliance Committee Meetings For the period July 2010 to May 2011: Committee Member

No. of Meetings Attended Held

Mr Roy Wakelin-King AM

Ms Bonnie Boezman, AO

Mr John Mulally

Ms Victoria Weeks

Mr John Mulally was on approved leave of absence from 16/01/2011. The Company’s Audit & Compliance Committee Meetings are conducted in accordance with the Treasury Policy Paper 09/05.

ATPSL is incorporated in Australia. The address of the registered office is: Australian Technology Park Sydney Limited Suite 3220 Locomotive Workshop 2 Locomotive Street Eveleigh NSW 2015.

Principal Activity The Company operates a scientific and technological research and development park. Spread over 13.5 hectares, the park occupies the site of the heritage listed Eveleigh Railway workshops. The principal activity of the Company during the financial year was to manage the operations of ATP in accordance with its Constitution, which include promoting technology and science through the management of leases to technology and scientific research organisations in accordance with the Company’s selection criteria for the site,, the provision of convention and exhibition facilities and the running and management of the Eveleigh Markets. There were no significant changes in the nature of the activities of the Company during the financial year.

Review and result of operations The net surplus from ordinary activities for the year amounted to $2.0m compared to prior year (2010: $143k). The Investment Property balance at year ended 30 June 2011 moved from 2010: $64.0m to 2011: $64.9m (a nett movement of $900k). ATP continues to be cash positive with a cash balance of $29.5m as at 30 June 2011.

2010-11 ANNUAL REPORT

32 DIRECTORS’ REPORT (CONT)

ATP has continued to grow under the ownership of RWA. The consolidation and organisational restructuring efforts in the last three years have continued to deliver an operating surplus and positive cash flows. The Company continues to focus on stringent financial and cost control measures, improved productivity and realignment of skills initiatives.

Property Management and Development Over the last two years, the Property Services team has made significant efforts in a number of areas to enhance the property, reduce the outgoings and increase the rentals as leases come up for renewal. Today the tenancy mix at the Park is a good balance between large and small information technology and scientific research tenants as well as blue chip and start up companies. The Park welcomed the University of Sydney as well as the Information Technology Department of the NSW Department of Education and Training during the year. The leasing market for the ATP has remained relatively stable and experienced overall vacancy fluctuations between 1.8%. These vacancy figures compare favourably to the City Fringe catchment vacancy rate of about 7.5%. In 2010/11 the Investment Property balance increased by a nett movement of $900k (from $64.0m to $64.9m).

Conference and Exhibition Centre Conference Centre revenue increased by $616k during the current year as compared to the prior year. This was a direct result of new and repeat business. This increase, which reflects ATPSL’s proactive marketing and sales operations and our commitment to service given to Conference Centre events by the events team.

The Company continued targeting major local and national events including trade shows, multi-day high yield conferences with an exhibition element and special events including dinners, launches and entertainment. The Conference Centre team also represented ATPSL at the Business Events Asia Roadshow to showcase the ATPSL Brand and to focus on business opportunities arising from the rapidly expanding Asia market. Sales presentations to new and existing clients were held four times during the year and the Conference Centre continued to build and strengthen its working relationships with event producers and suppliers. Major events hosted during the year included Junior MasterChef Australia Season 1, Faith and Life Transformation Evangelistic Rallies with Rev. Dr. Stephen Tong, Souths Cares Red and Green Ball, OZTek Dive Exhibition and Conference, K-12 Technology Congress, Women in Style Awards and the HMAS Manoora Ball.

Eveleigh Market Since the first markets in December 2008, the Eveleigh Farmers Market has grown in popularity and is now a favourite place for many weekly shoppers. This was demonstrated when the Market was awarded Outstanding Farmers’ Market in the 2011 Delicious Produce Awards, beating farmers’ markets from across Australia. During the 2010/11 financial year, the average stallholder numbers have increased to an average of 70 per week which reflects increased business, the seasonal breaks of farmers, stallholder turnover and the market’s ongoing commitment to authenticity. The average number of people who attended the Farmers’ Market increased by more than 7% to 3617 per week. ATPSL exercises considerable care to ensure the principles required for the establishment and management of a farmers market are respected and upheld to ensure that consumers are provided with authentic farm produce sold directly by food producers. Collaborative ‘farmshare’ participation is also permitted whereby a group of neighbouring or district farmers choose to operate a joint stall.

The Eveleigh Farmers’ Market is held every Saturday and is complemented by an Artisans’ Market which is held on the first Sunday of each month. ATPSL is making every effort to ensure that the Markets become sustainable in the longer term as a standalone business as soon as possible.

Capital Expenditure ATPSL spent $3.12m on capital works programs in 2010/11. Expenditure included: --

renovation of Bay 9 male and female amenities;

Bay 4 Atrium and Dining Room;

new carpet and lighting for Bay 4 facilities; and,

Exhibition Hall sprinkler upgrade and Bay 8 video display.

Debt Position There is a loan agreement between ATP and Redfern-Waterloo Authority (parent), for the construction of the NICTA Building which currently stands at $44.4m (2010: $49.5m). In May 2010, the Board approved commencement of a discretionary debt reduction strategy for the loan facility. An initial repayment of $5m was made in February 2011.

Dividends The Company operates as a not for profit entity limited by guarantee in accordance with its Constitution. To this end the Company does not pay dividends and all surplus funds are reinvested in the Company in order for ATPSL to meet its objectives under its consitution.

State of affairs In the opinion of the Directors, there were no significant changes in the state of affairs of the Company that occurred during the financial year under review. On 16 December 2010 the Board of Directors resolved to adopt a new Constitution for ATPSL to replace the Articles and Memorandum of Association of the Company. The Constitution did not materially change the Articles and Memorandum of Association and the Objects of the Company remained

AUSTRALIAN TECHNOLOGY PARK

substantially unchanged. The Constitution modernised the governance arrangements for the Company by ensuring that it was updated with reference to relevant law and that best practice governance procedures were established accordingly.

Environmental regulation The Company’s operations are subject to various environmental regulations under both Commonwealth and State legislation, which set the minimum requirements that the Company must meet. The Company monitors compliance with environmental regulations, and the Directors are not aware of any significant breaches during the period covered by this report.

Events subsequent to balance date On 1 July 2011, ATPSL assumed responsibility for the Redfern Waterloo Authority’s Aboriginal Employment Program (AEP). The AEP is designed to provide employment opportunities through a range of initiatives including development of key competencies, recruitment to employment opportunities and mentoring services. The AEP is designed to be self funding, with some assistance from Government grants. ATPSL will, in accordance with its Constitution, will explore initiatives to develop employment opportunities in the information technology and scientific research industries for members of the Aboriginal community.

Likely developments There are no known likely significant developments for the ATPSL in the coming financial year.

Auditor’s Independence Declaration under section 307C of the Corporations Act 2001

33 Directors Benefits Since 30 June 2010, no Director has received, or has become entitled to receive a benefit because of a contract that the Director, a firm of which the Director is a member, or any entity in which the Director has a substantial financial interest has made (during the year ended 30 June 2011 or at any other time) with: a) the Company; b) an entity that the contact was made or when the Director received, or became entitled to receive, any benefit (if any)

Indemnification and insurance of officers and auditors During or since the financial year, the Company has not indemnified, or made a relevant agreement for indemnifying, against liability of any present or former officer or auditor of the Company as contemplated by subsections 309A (1) and (2) of the Corporations Act 2001. During the financial year, the Company paid a premium under a contract of Directors and Officers Insurance. Disclosure of the nature of the liability and the amount of the premium is prohibited by the confidentiality clause of the contract of insurance.

Rounding off The Company is of a kind referred to in ASIC Class Order 98/100 dated 10 July 1998 and in accordance with that Class Order, amounts in the Financial Report and Directors’ Report have been rounded to the nearest thousand dollars, unless otherwise stated. This report is made in accordance with a resolution of the Directors made pursuant to S298(2) of the Corporations Act 2001. On behalf of the Directors,

The auditor’s independence declaration is set out on page 35 and forms part of the Directors’ Report for the year ended 30 June 2011. Roy Wakelin-King AM Managing Director

Roy Wakelin-King AM, Managing Director, ATPSL

2010-11 ANNUAL REPORT

DIRECTORS’ DECLARATION

In accordance with a resolution of the Board of Directors of Australian Technology Park Sydney Limited (‘ÁTPSL’) made pursuant to section 295(5) of the Corporations Act 2001, we hereby declare that:

1. The financial statements and notes as set out on the pages that follow:

(a) comply with Accounting Standards, the Public Finance and Audit Act 1983, the Corporations Act 2001 and Corporations Regulations; and

(b) give a true and fair view of the company’s financial position as at 30 June 2011 and of its performance for the year ended on that date;

2. In the Directors’ opinion, there are reasonable grounds to believe that the company will be able to pay its debts as and when they become due and payable.

On behalf of the Directors

Dr Col Gellatly AO Chairperson ATPSL

Roy Wakelin-King AM Managing Director ATPSL

Sydney, dated 28 October 2011

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AUDITOR’S INDEPENDENCE DECLARATION

INDEPENDENT AUDITOR’S REPORT

2010-11 ANNUAL REPORT

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2010-11 ANNUAL REPORT

Statement of Comprehensive Income For the year ended 30 June 2011 Restated

Restated 1 July

notes

2011 $’000

*2010 $’000

*2009 $’000

3(a) 3(b) 3(c)

19,643 1,846 919

18,794 1,650 503

16,883 1,807 4,340

22,408

20,947

23,030

(2,164) (995) (13,018) (3,717) (510)

(2,067) (729) (11,583) (3,428) (1,995) (1,002)

(1,719) (651) (9,628) (3,027) (5,500) (2,500) (10,091)

(20,404)

(20,804)

(33,116)

Surplus/(deficit) for the year

2,004

143

(10,086)

Other comprehensive income Total comprehensive income/(loss) for the year

2,004

143

(10,086)

Revenue from continuing operations Sale of services income Interest from financial assets Other income Total income Expenditure Employee benefits expenses Depreciation and amortisation expenses Other expenses Finance costs Write-off high voltage feeders Land remediation expense Grant paid to parent entity Loss on revaluation of investment property & other asset

8(a) 3(d) 3(e)

7 & 25

Total expenditure

* See note 24 for details regarding prior period errors and reclassification. The above statement should be read in conjunction with the accompanying notes.

AUSTRALIAN TECHNOLOGY PARK

Statement of Financial Position As at 30 June 2011

2011 $’000

*2010 $’000

*2009 $’000

5 6 6 9

29,532 653 437 119 30,741

32,221 554 407 121 33,303

31,065 483 378 121 32,047

7 8 6 9 25

64,900 13,568 3,343 293 7,875 89,979 120,720

64,000 11,445 3,780 413 9,625 89,263 122,566

64,640 10,638 4,186 534 9,625 89,623 121,670

10 13 10 11/12/12(a)

4,242 437 109 717 5,505

4,349 407 109 266 5,131

3,317 378 1,334 5,029

13 10 11 17(b)

43,987 9,297 55 15,960 69,299 74,804

49,126 9,403 31 14,963 73,523 78,654

49,250 9,625 32 13,965 72,872 77,901

45,916

43,912

43,769

45,916 45,916

43,912 43,912

43,769 43,769

Non-current assets Investment property Property, plant and equipment & software Loans receivable Lease incentive Other asset Total non-current assets Total assets

Non-current liabilities Borrowings Deferred lease revenue Provisions Other liabilities Total non-current liabilities Total liabilities

Restated 1 July

notes ASSETS Current assets Cash and cash equivalents Trade and other receivables Loans receivable Lease incentive asset Total current assets

LIABILITIES Current liabilities Trade and other payables Borrowings Deferred lease revenue Provisions Total current liabilities

Restated

NET ASSETS Equity Accumulated funds Contributed equity TOTAL EQUITY

* See note 24 for details regarding prior period errors and reclassification. The above statement should be read in conjunction with the accompanying notes.

2010-11 ANNUAL REPORT

Statement of Changes in Equity For the year ended 30 June 2011

note

2011

2010

$’000

Balance of equity at start of the year

48,336

47,713

Correction prior period errors

(4,424)

(3,944)

43,912

43,769

Balance as restated Other comprehensive income Total comprehensive icome for the year

2,004

143

45,916

43,912

Transactions with owners Balance of equity at the end of year

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

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Statement of Cash Flows For the year ended 30 June 2011

notes

2011

2010

$’000

inflow/ (outflow)

24,209

21,198

Cash flows from operating activities Receipts from customers Payments to suppliers and employees Interest received

(17,000)

(16,633)

3(b)

1,826

1,650

3(e)

(3,497)

(3,428)

5,538

2,787

Cash flows from investing activities

15 (b)

Interest paid Net cash flows from operating activities

8(a)

(3,118)

(1,536)

(3,118)

(1,536)

Payments to parent entity

(5,109)

(95)

Net cash flows from financing activities

(5,109)

(95)

Payments for property, plant and equipment & software net cash used in investing activities Cash flows from financing activities

32,221

31,065

5/15(a)

29,532

32,221

Cash and cash equivalents at the end of year

Cash and cash equivalents at the start of the financial year

Net (decrease)/increase in cash and cash equivalents

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

(2,689)

1,156

2010-11 ANNUAL REPORT

Notes to the Financial Statements 30 June 2011 Reporting entity Australian Technology Park Sydney Limited (formerly Australian Technology Park Precinct Management Limited) (the Company) is a wholly owned subsidiary of the RedfernWaterloo Authority (‘RWA’ - the Authority). It is a Company limited by guarantee. The Company is responsible for the day-to-day management of the Australian Technology Park (‘ATP’) located at Eveleigh in Sydney, NSW. On 20 April 2011 the members passed the resolution to change the name of the Company from Australian Technology Park Precinct Management Limited, to Australian Technology Park Sydney Limited and was registered with Australian Securities & Investment Commission on 6 May 2011.

Summary of significant accounting policies

2.1

Statement of compliance The Company’s financial statements are general purpose financial statements which have been prepared in accordance with applicable Australian Accounting Standards (which include Australian Accounting Interpretations) and the requirements of the Public Finance and Audit Act 1983, Public Finance and Audit Regulation 2010 and the Corporation Act 2001.

2.2

These financial statements have been prepared under the historical cost convention, as modified by the revaluation of financial assets and liabilities at fair value through profit or loss, certain classes of property, plant and equipment and investment property.

The Company has assessed its profit status for the financial year ended 30 June 2011 and determined its status as not-for-profit for financial reporting purposes. The Company operates as a ‘not for profit’ company limited by guarantee.

Except when an Australian Accounting Standard permits or requires otherwise, comparative information is disclosed in respect of the previous period for all amounts reported in the Financial Statements.

The financial statements for the year ended 30 June 2011 were authorised for issue by the Board on 25th October 2011.

1 Standards and interpretations adopted with no effect on financial statements The following new and revised Standard and Interpretation have been adopted in these financial statements. This adoption has not had any impact on the amounts reported in these financial statements but may affect the accounting for future transactions or arrangements

The Financial Statements are presented in Australian dollars and all values are rounded to the nearest thousand dollars ($’000) unless otherwise stated.

2.3

(a) A ASB 117 requires the lessor to classify a long-term land lease as a finance lease if it transfers to the lessee substantially all the risks and rewards incidental to the ownership of the land; (b) t he change applies to financial years beginning on or after 1 July 2010.

Comparative information Where necessary, comparative information has been reclassified to achieve consistency in disclosure with current financial year amounts and other disclosures.

Accounting Standard AASB 117 Leases has been adopted in the current period and as stated above there was no impact on these financial statements. Changes include:

Basis of preparation

2.4

Basis of measurement The financial statements have been prepared on an accrual accounting basis using historical cost accounting conventions, except for: --

non-current physical assets measured at fair value;

investment properties measured at fair value

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2.5

Use of estimates and judgements

2.8

In the application of the Companyâ&#x20AC;&#x2122;s accounting policies, management is required to make judgements, estimates and assumptions about carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are primarily based on historical experience.

Investment property is measured initially at cost, including transaction costs, and then subsequently, at fair value. Changes in fair values are recorded in the Statement of Comprehensive Income in the period in which they arise.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimates are recognised, or in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

2.6

Borrowings Borrowings are initially recognised at fair value, net of transaction costs incurred. Borrowings are subsequently measured at amortised cost. Any difference between the proceeds (net of transaction costs) and the redemption amount is recognised in the Statement of Comprehensive Income over the period of the borrowings using the effective interest method. Borrowings are removed from the Statement of Financial Position when the obligation specified in the contract is discharged, cancelled or expired. The difference between the carrying amount of a financial liability that has been extinguished or transferred to another party and the consideration paid, including any non-cash assets transferred or liabilities assumed, is recognised in other income or finance cost.

2.7

Borrowing cost Borrowing costs incurred for the construction of any qualifying asset are capitalised during the period of time that is required to complete and prepare the asset for its intended use or sale. Other borrowing costs are expensed.

Investment property Investment property is property held either to earn rental income or for capital appreciation or for both, but not for sale in the ordinary course of business, use in production or supply of goods or services, or for administrative purposes.

When the status of investment property changes, such that it is reclassified as property, plant and equipment, its fair value at the date of reclassification becomes its value for subsequent accounting.

2.9

Provision Provision is recognised when the Company has a present legal or constructive obligation as result of past event. The obligation can be measured reliably and it is probable that an outflow of economic benefits will be required to settle the obligation. Provisions are measured at the present value of managementâ&#x20AC;&#x2122;s best estimate of the expenditure required to settle the present obligation at the reporting date. The discount rate used to determine the present value reflects current assessments of the time value of money, and the risks specific to the liability. The increase in the provision due to passage of time is recognised as interest expense.

2010-11 ANNUAL REPORT

Notes to the Financial Statements 30 June 2011 2.9.1 Taxes (i) Good and services tax Revenues, expenses and assets are recognised net of the amount of GST except when the GST incurred on a purchase of goods and services is not recoverable from the taxation authority, in which case the GST is recognised as part of the cost of acquisition of the asset or as part of the expense item as applicable Receivables and payables, which are stated with the amount of GST included. The net amount of GST recoverable from, or payable to, the taxation authority is included as part of receivables or payables in the Statement of financial position. Cash flows are included in the Statement of cash flows on a gross basis and the GST component of cash flows arising from investing and financing activities, which is recoverable from, or payable to, the taxation authority, are classified as operating cash flows.

(ii) Income Tax On 16 February 2005, a private ruling was made in favour of the Company, where it was deemed that Section 24AM of Income Tax Assessment Act 1936 applies to exempt the Companyâ&#x20AC;&#x2122;s income from the imposition of income tax. The ruling has been reconfirmed several times since 2005, with a further extension to 30 June 2015 approved by the Australian Tax Office in a private ruling advice dated 2 March 2010 and 29 June 2011.

2.9.2 Intangible asset Intangible assets are recognised if it is probable that the future economic benefits associated with such items will flow to the Company, and it can be measured reliably. Intangible asset is measured at cost less accumulated amortisation and accumulated impairment loss. The Companyâ&#x20AC;&#x2122;s intangible assets are amortised on a straight line method over period of three years.

2.9.3 Cash and cash equivalents Cash and cash equivalents includes cash on hand, short term deposits with original maturities of three months or less, and short term Hourglass facility held with NSW Treasury Corporation (T-Corp). For Statement of Cash Flows presentation purposes, cash and cash equivalents consist of cash and cash equivalents as defined above.

2.9.4 Property, plant and equipment i) Recognition and measurement Property, plant and equipment is initially recognised at acquisition cost, including any costs directly attributable to the asset and any restoration costs associated with the asset. Cost is the amount of cash and cash equivalents paid or the fair value of the other consideration given to acquire the asset at the time of its acquisition or construction. Assets acquired at no cost or for nominal consideration are initially recognised at their fair value at the date of acquisition. Gain and loss on disposal of property, plant and equipment are determined by comparing proceeds from disposal with the carrying amount of property, plant and equipment and are recognised in the Statement of Comprehensive Income. When re-valued assets are sold, the amounts included in the revaluation reserve are transferred to Retained Earnings.

ii) Valuation of plant and equipment Plant and equipment is valued at fair value in accordance with Australian Accounting Standard AASB 116 Property, plant & equipment and NSW Treasury Paper on Valuation of Physical Non-Current Assets at Fair ValuePolicy Guideline Paper (TPP 07-1) Specialised plant and infrastructure is measured at estimated write down replacement cost.

iii) Valuation of land and buildings Land and buildings are reported at fair value, based on annual fair value assessments prepared by independent, professional real estate valuers. The last independent assessment was conducted on 31 May 2011 by Preston Rowe Paterson NSW Pty Limited (PRP), independent valuers not related to the Company. PRP are members of the Australian Institute of Valuers and they have the appropriate qualifications and recent experience in the valuation of properties in the Redfern-Waterloo area. The valuation, which conforms to Australian Valuation Standards, was arrived at by reference to market evidence of transactions prices for similar properties.

AUSTRALIAN TECHNOLOGY PARK

iv) Capitalisation of assets

vii) Depreciation

Expenditure in excess of $5,000 is capitalised where it is expected to provide future economic benefits for more than one reporting period. When assets are completed and ready for service, the costs are capitalised to the relevant property, plant and equipment account, either directly or from the capital work in progress when relevant.

Depreciation is recognised in the Statement of Comprehensive Income on a straight line basis over the estimated useful lives of each part of an item of property, plant and equipment. Leased assets are depreciated over the shorter of the lease term and their useful lives unless it is reasonably certain that the Company will obtain ownership by the end of the lease term. Land is not depreciated.

The remaining capital expenditure is carried forward as construction in progress and included in property, plant and equipment in the Statement of Financial Position.

v) Reclassification to investment property When the use of property changes from owner occupied to investment property, the property is re-measured to fair value which is based on active market prices, adjusted, if necessary for any difference in the nature, location or condition of the specific asset and then reclassified as investment property. Any gain arising on re-measurement is recognised in Statement of Financial Position to the extent the gain reverses a previous impairment loss on the specific property, with any remaining gain recognised being identified as a revaluation reserve. Any loss is also recognised in a revaluation reserve, to the extent that an amount is included in equity relating to the specific property, with any remaining loss recognised immediately in Statement of Comprehensive Income.

vi) Subsequent cost Subsequent costs are included in the assetâ&#x20AC;&#x2122;s carrying amount or recognised as a separate asset, as appropriate, only when it is probable that future economic benefits associated with the item will flow to the Company and the cost of the item can be measured reliably. The carrying amount of any component accounted for as a separate asset is derecognised when replaced. All other repairs and maintenance are charged to the Statement of Comprehensive Income during the reporting period in which they are incurred.

Depreciation of art and artefacts is not recognised because the useful life and the net amount to be recovered at the end of the useful life cannot be reliably measured. The decision not to recognise depreciation for these assets is reviewed annually. The estimated useful lives for the current and comparative periods are as follows: --

Furniture and fittings

4-5 years

Plant and equipment

3-4 years

L easehold improvements

Shorter of the lease period, or useful life

Motor vehicles

5 years

2.9.5 Impairment The carrying amount of assets other than investment property, are reviewed at each reporting date to determine whether there is any impairment. An allowance for impairment is established when there is objective evidence that the agency will not be able to collect all amounts due.

2.9.6 Trade and other payables These amounts represent liabilities for goods and services received by the Company prior to the end of financial year, and which were unpaid at the end of the year. The amounts are unsecured and are usually paid within 30 days of receipt of a relevant invoice. Payables are recognised initially at fair value, usually based on the transaction cost or face value.

2010-11 ANNUAL REPORT

Notes to the Financial Statements 30 June 2011 2.9.7 Trade and other receivables Trade receivables are recognised initially at the value of the invoice and subsequently measured at amortised cost using the effective interest method, less allowance for impairment if required. Collectability of trade receivables is reviewed on an ongoing basis. Debts which are known to be uncollectible are written off by reducing the carrying amount directly. An allowance for impairment is used when there is objective evidence that the Company will not be able to collect all amounts due according to the original terms of the receivables. Significant financial difficulties of the debtor, probability that the debtor will enter bankruptcy or financial reorganisation, and default or delinquency in payments (more than 120 days overdue) are considered indicators that the trade receivable is impaired. The amount of the impairment allowance is the difference between the assetâ&#x20AC;&#x2122;s carrying amount and the present value of estimated future cash flows, discounted at the original effective interest rate. Cash flows relating to short-term receivables are not discounted if the effect of discounting is immaterial. The allowance for impairment is recognised in the Statement of Comprehensive Income within other expenses. When a trade receivable for which an impairment allowance had been recognised becomes uncollectible in a subsequent period, it is written off against the allowance account. Subsequent recoveries of amounts previously written off are credited against other expenses in the Statement of Comprehensive Income.

(ii) Long service leave The liability for long service leave is recognised in the provision for employee benefits and measured as the present value of expected future payments to be made in respect of services provided by employees up to the reporting date using the projected unit credit method. Consideration is given to expected future wage and salary levels, experience of employee departures and periods of service. Expected future payments are discounted using market yields at the reporting date on national government bonds with terms to maturity and currency that match, as closely as possible, the estimated future cash outflows. Provisions made in respect of employee benefits which are not expected to be settled within 12 months are measured at the present value of the estimated future cash outflows to be made by the consolidated entity in respect of services provided by employees up to reporting date. The government bond rate of 5% (2010: 5%) was applied for discounting purposes.

(iii) Defined contribution plans Defined contribution plans is a post-employment benefit plan under which an entity pays fixed contributions into a separate entity and will have no legal or constructive obligation to pay further amounts. Obligations for contributions to defined contribution plans are recognised as an expense in the Comprehensive Statement of Income when they are due. Prepaid contributions are recognised as an asset to the extent that a cash refund or a reduction in future payments is available.

(iv) Termination benefits 2.9.8 Employee benefits (i) Wages and salaries, annual leave and sick leave Liabilities for wages and salaries, including non-monetary benefits and annual leave expected to be settled within 12 months of the reporting date are recognised in other payables in respect of employeesâ&#x20AC;&#x2122; services up to the reporting date and are measured at the amounts expected to be paid when the liabilities are settled. Any vested sick leave is not taken up as a payable as at the reporting date.

Termination benefits are recognised as an expense when the Company is demonstrably committed, without realistic possibility of withdrawal, to a formal detailed plan to either terminate employment before the normal retirement date, or to provide termination benefits as a result of an offer made to encourage voluntary redundancy. Termination benefits for voluntary redundancies are recognised as an expense if the Company has made an offer encouraging voluntary redundancy, it is probable that the offer will be accepted, and the number of acceptance can be estimated reliably.

AUSTRALIAN TECHNOLOGY PARK

2.9.9 Revenue Revenue is measured at the fair value of the consideration received or receivable. Amounts disclosed as revenue are net of allowances, rebates and amounts collected on behalf of third parties. The Company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the Company’s activities as described below. Revenue is recognised for the major business activities as follows:

i) Rental revenue Rental revenue is accounted for in accordance to rental agreement. Majority of rental revenue is accounted for on straight line basis over the lease of the term. The lease payments received in advance are recorded as a liability and recognised as revenue over the lease term.

2.9.9.2 Leases i) Operating lease Where the Company is the lessee, operating lease payments are recognised as an expense in Statement of Comprehensive Income on a straight-line basis over the lease term. Where the Company is the lessor, leases in which the Company retains substantially all the risks and benefits of ownership of the leased asset are classified as operating leases. Operating lease rental receipts are recognised as revenue in the Statement of Comprehensive Income on a straight-line basis over the lease term. While payments made under operating leases are charged to the Statement of Comprehensive Income on a straight-line basis over the period of the lease.

Revenue from a contract to provide services is recognised by reference to the stage of the completion of the contract.

In the event that lease incentives are offered to enter into operating leases, such incentives are recognised as a liability. The aggregate benefits of incentives are recognised as a reduction of rental expense on a straightline basis, except where another systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed.

iii) Interest revenue

ii) Finance lease

Interest revenue is recognised on an accrual basis using the effective interest method.

Leases of property, plant and equipment, where the Company, as lessee has substantially all the risks at inception, are reported at the fair value of the leased property or, if lower, the present value of the minimum lease payments. The corresponding rental obligations, net of finance charges, are included in other short-term and long-term payables. Each lease payment is allocated between the liability and finance cost. The finance cost is charged to the Statement of Comprehensive Income over the lease period so as to produce a constant periodic rate of interest on the remaining balance of the liability for each period. The property, plant and equipment acquired under a finance lease is depreciated over the shorter of the asset’s useful life and the lease term.

ii) Rendering of services

iv) Contributions Contributions are recognised as revenue when the Company obtains control over the asset comprising the contributions. Controls over contributions are normally obtained upon the receipt of cash or other assets.

2.9.9.1 Dividends In accordance with the Company’s Constitution, no portion of the Company’s income may be paid or transferred directly or indirectly by way of a dividend to members of the company.

iii) Lease incentives Lease incentives include upfront cash payments to the lessee or the reimbursement or assumption by the Company, as the lessor, of costs of the lessee (such as relocation costs, leasehold improvements, fit-out contributions and costs associated with a pre-existing lease commitment). Alternatively, the initial period of the lease term may be agreed to be rent-free or at a reduced rent, and shall be recognised, in accordance with the Australian Accounting Interpretations.

2010-11 ANNUAL REPORT

Notes to the Financial Statements 30 June 2011 2.9.9.3 Accounting standards and interpretations issued but not yet effective Certain new accounting standards and interpretations have been published that are not mandatory for 30 June 2011 reporting period. The Company did not early adopt any of these Accounting Standards and Interpretations that are listed below which were in issue but not yet effective.

Standard/Interpretation AASB 124 ‘Related Party Disclosures’ (revised December 2009), AASB 2009-12 ‘Amendments to Australian Accounting Standards’

Effective for annual reporting periods beginning on or after

Expected to be initially applied in the financial year ending

1 January 2011

30 June 2012

1 January 2013

30 June 2014

AASB 2009-14 ‘Amendments to Australian Interpretation – Prepayments of a Minimum Funding Requirement’

1 January 2011

30 June 2012

AASB 2010-5 ‘Amendments to Australian Accounting Standards’

1 January 2011

30 June 2012

AASB 2010-6 ‘Amendments to Australian Accounting Standards – Disclosures on Transfers of Financial Assets’

1 July 2011

30 June 2012

AASB 2010-8 ‘Amendments to Australian Accounting Standards – Deferred Tax: Recovery of Underlying Assets

1 January 2012

30 June 2013

AASB 9 ‘Financial Instruments’, AASB 2009- 11 ‘Amendments to Australian Accounting Standards arising from AASB 9’ and AASB 2010-7 ‘Amendments to Australian Accounting Standards arising from AASB 9 (December 2010)’

It is considered that the impact of these new Standards and Interpretations in future periods, will have no material impact on the financial statements of the Company.

AUSTRALIAN TECHNOLOGY PARK

Income and operating expenditure

a Revenue from continuing operations Revenue from rendering of services b Interest from financial assets Bank deposits Loans and receivables NSW Treasury Corporation Hour-Glass cash facility

c Other income Other operating income Total income d Other expenses Advertising and promotion Conferencing cost of sales Printing, stationery and subscriptions IT software and maintenance Property expenses Repairs and maintenance Cleaning Security Telephones Insurance Legal Operating lease costs Consultants & contractors Other costs Total other expenses e Finance costs Interest on borrowings from parent entity Interest on obligations under finance leases Total interest expenses

2011 $’000 19,643 19,643 91 290 1,465 1,846 919 919 22,408 533 2,153 171 405 3,169 623 374 721 89 115 273 997 2,528 867 13,018 3,419 298 3,717

2010 $’000 18,794 18,794 41 318 1,291 1,650 503 503 20,947 477 1,837 84 365 2,800 924 417 670 104 128 462 997 1,527 791 11,583 3,146 282 3,428

f Changes in fair value of investment property and other asset During the year the investment property and other asset was revalued and a valuation loss of $510,000 (2010: loss $1,002,000) has been booked in the accounts. Income tax expense Primarily due to it’s not for profit status, the Company is not liable for income tax (refer Note 2.9.1(ii)).

2010-11 ANNUAL REPORT

Notes to the Financial Statements 30 June 2011 5

Cash and cash equivalents

Cash on hand and at bank NSW Treasury Corporation “Hour-Glass” cash facility

2011 $’000

2010 $’000

3,151 26,381 29,532

1,305 30,916 32,221

The Company places surplus cash in the NSW Treasury Corporation’s “Hour-Glass” cash facility. The weighted average rate of return on these cash investments during the year was 5.26% (2010: 4.25%). 6

Trade and other receivables

Current Trade receivables (i) Allowance for impairment Goods and services tax recoverable Other receivables Loan receivable (ii) Current Non-current

2011 $’000

2010 $’000

543 (26) 517

383 (21) 362

116 20 653

189 3 554

437 3,343 3,780

407 3,780 4,187

4,433

4,741

(i) The average credit period extended by the Company on rental payments and on conference activity services is 7 days. No interest is charged on the overdue invoices. Of the total, $543k (2010: $383k) of the Company’s trade receivables, $384k (2010: $295k) are current, with an average of 10 days (2010: 9 days). Provision is made for estimated irrecoverable trade receivable amounts arising from the past rendering of services, determined by reference to past default experience irrespective of debtor ageing. The Company reviews debtors ageing and makes a provision on the basis of a probability percentage of recovery for each ageing category.

Movement in allowance for impairment of receivables Balance at the beginning of the financial year Increase/(decrease) in provision for impairment loss Bad debts written off

2011 $’000

2010 $’000

21 5 -

64 (43) -

AUSTRALIAN TECHNOLOGY PARK

Space at ATP is leased to new customers who fit the selection criteria. The Company also has a policy of collecting 3-6 months rental as a bond before the commencement of the lease. Customers of the conference centre normally pay almost 90% of the total event invoice in advance of the event happening. Of the trade receivables balance at the end of the year, $113k (2010: $137k) is due from General Government entities, which makes up 21% (2010: 35%) of the total balance of trade receivables and $25k (2010: $4k) is due from Public Trading Enterprises, amounting to 5% of trade receivables balance (2010: 1%) Included in the Company’s trade receivable balances are debtors with a carrying amount of $418k (2010: $202k) which are past due at the reporting date for which the Company has not provided as there has not been significant change in credit quality and the amounts are still considered recoverable. The Company does not hold collateral over these balances.

2011

2010

$’000

414

149

Ageing of past due but not impaired Less than 3 months overdue 3 to 6 months overdue More than 6 months overdue

418

202

The Company is certain that all of that debt will be recovered during the year. The Company meets with these debtors on a regular basis to make sure that the debt is paid on time. Where necessary, debtors are placed on a payment plan, and/or prompt formal recovery action is initiated by the Company. In determining the recoverability of a trade receivable, the Company considers any change in the credit quality of the trade receivable from the date credit was initially granted up to the reporting date. The concentration of credit risk is limited due to the customer base being large and unrelated. Included in the allowance for impairments are trade receivables of $26k (2010: $21k) broken down by ageing, as follows: 2011

2010

$’000

3 to 6 months overdue

More than 6 months overdue

Ageing of impaired trade receivables Less than 3 months overdue

(ii) Loans receivable represents the fitout costs receivable from the Department of Defence over the term of lease of 10 years. The fixed interest rate is 7.24% per annum and the maturity date is 30 May 2018. Management considers that the carrying amount of the loan best represents the maximum credit risk exposure at the balance sheet date and that there is no indication at that date that the counterparty will not meet its obligations.

2010-11 ANNUAL REPORT

Notes to the Financial Statements 30 June 2011

Investment Property 2011 $’000

2010 $’000

64,000 1,240 (340) 64,900

64,640 (1,002) 362 64,000

2011 $’000

2010 $’000

Leasehold improvements At gross value Accumulated depreciation Carrying amount at fair value

13,078 (1,552) 11,526

10,970 (1,078) 9,892

Furniture and fittings At gross value Accumulated depreciation Carrying amount at fair value

1,629 (1,049) 580

1,051 (978) 73

Plant and equipment At gross value Accumulated depreciation Carrying amount at fair value

3,072 (1,906) 1,166

2,348 (1,503) 845

Motor vehicles At gross value Accumulated depreciation Carrying amount at fair value

32 (6) 26

Art and artefacts At gross value Accumulated depreciation Carrying amount at fair value

5 5

Software At gross value Accumulated amortisation Carrying amount at fair value

402 (336) 66

351 (295) 56

199

574

18,417 (4,849) 13,568

15,299 (3,854) 11,445

At fair value Balance at the beginning of the financial year Loss from fair value adjustment Adjustment from straight-lining of lease income

Property Plant & Equipment & Software

Work in progress Total property, plant and equipment & software At gross value Accumulated depreciation/amortisation Carrying amount at fair value

AUSTRALIAN TECHNOLOGY PARK

(a) Reconciliation of Property Plant and Equipment & SOFTWARE Leasehold Furniture and Plant and improvements fittings equipment $’000 Year ended 30 June 2010 Opening net book amount Additions Depreciation/amortisation Closing net book amount Year ended 30 June 2011 Opening net book amount Additions Transfer in/out Depreciation/amortisation Closing net book amount

Motor vehicles

Software

Work in progress

Total

$’000

10,042 210 (360)

105 1 (33)

339 747 (241)

5 -

125 26 (95)

22 552 -

10,638 1,536 (729)

9,892

845

574

11,445

9,892 1,763 345 (474)

73 577 (70)

845 510 214 (403)

5 -

32 (6)

56 37 15 (42)

574 199 (574) -

11,445 3,118 (995)

11,526

580

1,166

199

13,568

Lease Incentive

Lease incentive asset Current Non-current

Art and artefacts

2011 $’000

2010 $’000

119 293 412

121 413 534

2011 $’000

2010 $’000

2,777 1,249 216 4,242

3,198 (8) 966 193 4,349

Trade and other payables

Current Trade payables and accruals (i) Amounts payable to parent entity (ii) Event and tenant deposits Other payables

(i) The average credit period on purchase of services is 30 days. No interest has been paid in the current year. The Company has financial risk management policies in place to ensure that all payables are paid within the credit timeframe. (ii) R efer to Note 19(c) for terms and conditions.

2010-11 ANNUAL REPORT

Notes to the Financial Statements 30 June 2011 10

Trade and other payables (continued) Deferred lease revenue

Current Non-current

2011 $’000

2010 $’000

109 9,297 9,406

109 9,403 9,512

Deferred lease revenue refers to ATPSL’s right to receive revenue from 350 car spaces arising from a recent commercial development agreement. This will be amortised over the term of the lease (88 years). 11

Provisions - employee entitlements

Current Annual leave Long service leave

2011 $’000 155 72 227 55 282

Non-current Long service leave

Provision - remediation costs

Carrying amount at start of year Unused amounts reversed Amounts used during the year

2010 $’000 161 64 225 31 256

2011 $’000

2010 $’000 1,079 (1,038) 41

2011 $’000

2010 $’000

490 490

12 (a) Provision - council rates

Council rates

AUSTRALIAN TECHNOLOGY PARK

Borrowings

Current Loan from parent entity - 10 year fixed interest Non-current Loan from parent entity - 10 year fixed interest Loan from parent entity at variable rates Finance lease liability (Note 17(b))

2011 $’000

2010 $’000

437 437

407 407

3,343 34,996 5,648 43,987

3,780 39,996 5,350 49,126

44,424

49,533

The loans from the parent entity were received to fund the construction of buildings. A loan agreement is in place and the Company incurs commercial rates of interest payable to the parent entity. The company paid 4.9% interest for the current year (2010: 3.8%). The total loan facility is for $47.5m. In May 2010, the Company’s Board approved commencement of a discretionary debt reduction strategy for the floating rate loan facility. Since then the Board has approved for a $5m debt repayment to be made annually. An initial payment of $5m was made in February 2011. The 10 year fixed interest rate loan relates to the fitout costs recoverable from the Department of Defence over the term of the lease (refer note 6 (ii)). 14

Accumulated funds

Balance at beginning of the year Correction of prior period errors Balance as restated Comprehensive income for the year Balance at end of the year

2011 $’000

2010 $’000

48,336 (4,424) 43,912

47,713 (3,944) 43,769

2,004

143

45,916

43,912

2010-11 ANNUAL REPORT

Notes to the Financial Statements 30 June 2011

15 Reconciliation of Statement of cash flows For the purposes of the cash flow statement, cash includes cash on hand and in banks and liquid investment in NSW Treasury Corporation “Hour-Glass” cash facility. Cash at the end of the financial year as shown in the Statement of Cash Flows is reconciled to the related items in the Statement of Financial Position as follows: (a) Reconciliation of cash and cash equivalents

Cash and cash equivalents (Note 5)

2011 $’000

2010 $’000

29,532 29,532

32,221 32,221

2011 $’000

2010 $’000

2,004

143

(b) Reconciliation of profit for the year to net cash flows from operating activities

Total comprehensive income for the year Adjustments for non-cash items Depreciation and amortisation Straight-lining of lease income Change in fair value of investment property & other asset measured at fair value through income statement Recognition of operating lease incentive in accordance with: Interpretation of AASB 115 Operating lease Allowance for impairment on receivables Net profit before working capital changes

995 340 510

729 (362) 1,002

122 997 5 4,973

122 997 (43) 2,588

Changes in net assets and liabilities: Decrease in trade and other receivables (Decrease)/increase in trade and other payables Increase/(decrease) in provisions Net cash flows from operating activities

302 (213) 476 5,538

349 919 (1,069) 2,787

2011 $’000

2010 $’000

3,927

1,076

16 Capital commitments

Contracted as at balance date (inclusive of GST) Payable within one year

AUSTRALIAN TECHNOLOGY PARK

17 Leases

(a) Disclosures for the Company as lessor Operating leases Operating leases relate to the investment property referred in Note 7 to the financial statements. Tenancy lease terms vary with terms ranging up to 99 years, however the majority fall within the 2-10 year range. Depending on the commercial arrangements, many leases also provide for renewal options. All operating lease contracts contain periodic escalation provisions, as well as market review clauses in the event that the lessee exercises an option to renew. Lessees do not have an option to purchase the property at the expiry of the lease period.

Non-cancellable operating lease receivables Not later than one year Later than one and not later than five years Later than five years Total including GST

2011 $’000

2010 $’000

13,877 41,031 22,003 76,911

12,671 29,611 33,748 76,030

The above includes GST output tax of $6.99m (2010: $6.91m) that is expected to be paid to the Australian Taxation Office. The income commitments relate to rent leases. All receivable leases are entered into at commercial rates and terms. Regular market valuations and tendering processes are carried out to ensure commercial arrangements are maintained.

Current Lease incentive asset (note 9) Non-current Lease incentive asset (note 9)

2011 $’000

2010 $’000

119

121

293 412

413 534

(b) Disclosures for the Company as lessee Operating leases Operating leases relate to the heritage land and buildings with lease term of 99 years. The Company does not have an option to purchase the leased asset at the expiry of the lease period.

Non-cancellable operating lease payments Not later than one year Later than one and not later than five years Later than five years

2011 $’000

2010 $’000

68,225 68,225

It should be noted that ATPSL has elected to reflect the valuation at the inception of the lease as the fair value of the rental payments will commence in 2016.

2010-11 ANNUAL REPORT

Notes to the Financial Statements 30 June 2011 17 Leases (continued)

(b) Disclosures for the Company as lessee (continued) In respect of non-cancellable operating leases the following have been recognised:

Non-current - other liability Operating lease payable in arrears

2011 $’000

2010 $’000

15,960

14,963

Finance leases Finance leases relate to the Bio-medical buildings with lease term of 99 years. The Company does not have an option to purchase the leased asset at the expiry of the lease period. Minimum lease payments, later than 5 years * Less: Future finance charges Present value of minimum lease payments

30,525 (24,877) 5,648

30,525 (25,175) 5,350

Included in the financial statements as: Non-current finance lease liability (Note 13)

5,648

5,350

*Minimum future lease payments includes the aggregate of all lease payments and any guaranteed residual. 18

Auditor’s Remuneration

The auditor of the Company is The Audit Office of NSW . (a) Amount paid, or due and payable to the Audit Office of NSW (b) Amount paid, or due and payable, for: Internal audit, accounting and probity services

2011 $’000 62 88

2010 $’000 75 194

150

269

AUSTRALIAN TECHNOLOGY PARK

Directors and executives disclosure a) Details of key management personnel Directors

Executives

Dr Colin Gellatly AO - Chairman Mr Michael Collins Mr Richard Johnson Ms Lucy Hughes Turnbull AO Ms Ann Weldon Mr John Mulally Mr Roy Wakelin-King AM - Managing Director

Mr Chris Saunders - General Manager Ms Roula Zivlas - Director Finance & Corporate Services Mr Graham Stevens - Director Property Services Ms Ruby Chronis - Director Sales & Marketing Ms Ariana Aljinovic - Executive Manager Eveleigh Market

b) Compensation of key management personnel Directors compensation The Directors receiving remuneration from the Company during the financial year ended 30 June 2011 are Dr Gellatly, Mr Collins and Ms Turnbull (2011: $22,523, 2010: nil). To balance date, the other remaining Directors with the exception of Dr Gellatly, Mr Collins and Ms Turnbull have been remunerated by RWA. Options for allocation of these costs may be subject to review during the 2011 financial year. Directors did not receive any loans or advances or other forms of compensation during the financial year. Executives compensation The Company’s objective is to reward executives with a level and mix of compensation commensurate with their position and responsibilities within the Company as to: --

Reward executives for Company, business unit and individual performance against targets set by appropriate benchmarks;

Link rewards with the strategic goals and performance of the Company; and

Ensure total compensation is competitive by market standards.

The Managing Director of the Company does not get paid by the Company. He is also the CEO of the Redfern-Waterloo Authority (the parent) and is remunerated by the parent. c) Related party disclosures Terms and conditions of transactions with related parties Sales to and purchases from related parties are made in arm’s length transactions both at normal market prices and on normal commercial terms. The Directors or Executives of the Company do not currently hold or have held positions with organisations that the Company had dealings with. Compensation of current key personnel: Number

Salary

Superannuation

Performance related bonus

$’000

100-150

1-20

1-50

150-200

10-20

10-50

200-250

10-20

10-50

2010-11 ANNUAL REPORT

Notes to the Financial Statements 30 June 2011 20

Related party transactions and balances The Company is a wholly owned subsidiary of RWA. The balances outstanding at the end of the year and the value of the transactions with the related parties during the year are set out in the table below:

Related party balances

2010 $’000

Receivable from the parent entity

Payable to the parent entity

(8)

44,424

49,533

Loans from the parent entity Related party transactions Accounting services provided to the parent entity Development activity support from the parent entity Eveleigh Market rental paid to parent entity Interest paid to parent entity on the loan 21

2011 $’000

450

375

(3,419)

(3,146)

Financial instruments The Company’s principal financial instruments, and the main risks associated with them, are outlined below. The financial instruments arise directly from the Company’s trading activities and operations. The Company does not enter into or trade in financial instruments for speculative purposes. 2011

2010

$’000

3,151

1,305

26,381

30,916

537

365

Financial assets Cash & deposits Short term cash investments - TCorp Trade & other receivables Loans receivable Financial liabilities Trade & other payables Borrowings

3,780

4,187

33,849

36,773

4,026

4,156

44,424

49,533

48,450

53,689

AUSTRALIAN TECHNOLOGY PARK

(a) Financial risk management objectives The Company’s principal financial instruments comprise cash and short term deposits, finance lease liabilities and loans from its parent. The main purpose of these financial instruments is to fund the Company’s operations. The Company has various other financial instruments such as debtors and trade creditors, which arise directly from its operations. It is, and has been throughout the period under review, the Company’s policy that no trading in financial instruments shall be undertaken. The main risks arising from the Company’s financial instruments are interest rate risk, liquidity risk and credit risk. The executive reviews and agrees policies for managing each of these risks and they are summarised below. (b) Interest rate risk The Company is exposed to interest rate risk as it borrows at floating interest rates from its parent entity and holds surplus cash in NSW Treasury Corporation “Hour-Glass” cash facilities. The Company’s exposure to interest rate risk arising from the above is disclosed in notes 5 and 13. (c) Interest rate sensitivity The sensitivity analysis below have been determined based on the exposure to interest rates for the financial instruments held by the Company at the reporting date and the stipulated change taking place at the beginning of the financial year and held constant throughout the reporting period. A 1% increase or decrease is used when reporting interest rate risk internally to key management personnel and represents management’s assessment of the possible change in interest rates. At reporting date, if interest rates applied to the net cash and investments and borrowings had been 1% higher, and all other variables were held constant, the Company’s net profit would decrease by $70k (2010: $92k). This is mainly attributable to the Company’s exposure to interest rate risk on its variable borrowings from its parent and its investments in “Hour-Glass” facilities from the NSW Treasury Corporation.

(d) Credit risk Credit risk refers to the risk that a counter party will default on its contractual obligations resulting in losses to the Company. The credit quality of trade and other receivables and the credit risk management policy in respect of such financial assets are disclosed in note 6. No credit risk arises on the Company’s investments in Hour-Glass cash facilities with the NSW Treasury as these represent the Company’s share of the net asset value of the facility. (e) Liquidity risk Liquidity risk arises from the possibility that the Company may be unable to settle a transaction on the due date. The Company’s objective is to maintain a satisfactory level of liquidity. The Company has no significant borrowings for the day to day operations. The Company borrows money only for the purpose of capital projects which is through its parent entity. Liquidity and interest risk tables: The following tables detail the Company’s remaining contractual maturity for its non-derivative financial liabilities. The tables have been drawn up based on the undiscounted cash flows of financial liabilities based on the earliest date on which the Company can be required to pay. The table includes both interest and principal cash flows and spot rates at the year-end have been used to project interest payments for variable rate loans.

2010-11 ANNUAL REPORT

Notes to the Financial Statements 30 June 2011 21

Financial instruments (continued)

Weighted average effective interest rate %

Less than 1 year $’000

1-5 years $’000

5+ years $’000

Total $’000

2011 Non-interest bearing trade payables Fixed rate loan from parent Variable rate loan from parent Finance lease liability

7.24% 4.99% 5.50%

4,026 437 4,463

2,100 2,100

1,243 34,996 5,648 41,887

4,026 3,780 34,996 5,648 48,450

2010 Non-interest bearing trade payables Fixed rate loan from parent Variable rate loan from parent Finance lease liability

7.24% 3.81% 5.50%

4,156 696 4,852

2,088 2,088

2,726 40,107 5,350 48,183

4,156 5,510 40,107 5,350 55,123

The 10 year fixed interest rate loan pertains to the fit-out costs recoverable from the Department of Defence over the term of the lease (refer note 6 (ii)).

AUSTRALIAN TECHNOLOGY PARK

(f) Market risk Market risk is the risk that changes in market prices, such as foreign exchange rates, interest rates and equity prices will affect the income or value of the holdings of financial instruments. The objective of market risk management is to manage and control market risk exposures within in acceptable parameters, while optimising the return. The Companyâ&#x20AC;&#x2122;s exposures to market risk are as follows: --

---

Growth: the depth and length of the global economic downturn, and its impact on the investments held by the Company Systematic risk: liquidity and counterparty risks in financial markets Lack of corporate governance: Universal lack of corporate governance leads to fraud and bankruptcies.

The Company manages its market risk exposure by construction of risk framework that quantifies the risks in the investment strategies and the probable outcomes from the portfolio given different events.

(g) Capital management The Company manages its capital to ensure that it will be able to continue as a going concern in order to meet its statutory obligations. The capital structure of the Company consists of cash and cash equivalents and retained profits as disclosed in note 14. (h) Net fair values of financial assets and liabilities The fair value of financial assets and liabilities are determined in accordance with generally accepted pricing models based on discounted cash flow analysis using prices from observable current market transactions. The carrying amount of financial assets and financial liabilities recorded in the financial statements approximate their net fair values.

2010-11 ANNUAL REPORT

Notes to the Financial Statements 30 June 2011 22

Contingent assets and liabilities The Company is seeking confirmation for its exemptions relating to rates and taxes from the Office of State Revenue and City of Sydney Council. Until the outcome of these matters is known, there is uncertainty relating to the extent to which liabilities for rates and taxes, if any, should be recognised in the financial statements.

Events after reporting period The Company has not identified any events or transactions after the reporting period that are material to require adjustments or disclosure in the financial statements. It should be noted that Sydney Metropolitan Development Authority (’SMDA‘) was established in December 2010, and at that time it was the Government’s intention for SMDA to absorb RWA’s functions and duties. As at 30 June 2011 the RWA Act remains in force and is expected to be repealed in FY 2011/12. As a result of RWA’s legislation being repealed the current intention is for ATPSL’s ownership to transfer to SMDA.

Prior period errors and reclassification The company has identified the following prior period errors and the necessary corrections have been made as required by AASB 108 Accounting Policies, Changes in Accounting Estimates and Errors as following: ---

he amount of the correction for each financial line affected. T The amount of the correction at the beginning of the earliest prior period presented.

(a) I n 2008/2009, the Company received the right to use 350 car park spaces valued at $9.625m as Leasehold Improvements. It has reassessed the nature of this asset and reclassified as ‘Other Asset’. (b) A s part of the review of leases during the year, the Company identified that the lease incentive asset was not excluded from the fair value assessment of investment property as required in Australian Accounting Standards (AASB140.50c). The Company has corrected this error by transferring the lease incentive asset to accumulated funds. (c) T he review of leases also identified an incorrect land value was applied in the computation of lease payable on a straightline method. A land value of $17.3m instead of $25.0m was used. As a result of this, the Company’s accrued lease liability was understated.

i. Restatement of statement of comprehensive income, statement of financial position and statement of changes in equity for the year ended 30 June 2010 financial statement line items impacted by the prior period error.

AUSTRALIAN TECHNOLOGY PARK

2010 $’000

$’000

2010 $’000

previous reported

prior period error

restated

a c b

(842) (11,352) (640) (20,324) 623 623

113 (231) (362) (480) (480) (480)

(729) (11,583) (1,002) (20,804) 143 143

540 33,722 20,957 2,266 91,003 124,725 12,698 71,258 76,389 48,336 48,336 48,336

(419) (419) (9,512) (1,853) 9,625 (1,740) (2,159) 2,265 2,265 2,265 (4,424) (4,424) (4,424)

121 33,303 11,445 413 9,625 89,263 122,566 14,963 73,523 78,654 43,912 43,912 43,912

623 48,336 48,336

(480) (4,424) (4,424)

143 43,912 43,912

note Statement of comprehensive income Depreciation and amortisation expenses Other expenses Loss on revaluation of investment property Total expenditure Surplus/(deficit) for the year Total comprehensive income/(loss) for the year

Statement of financial position Lease incentive asset Total current assets Property, plant and equipment & software Lease incentive Other asset Total non-current assets Total assets Other liabilities Total non-current liabilities Total liabilities Net assets Accumulated funds Total equity

Statement of changes in equity Total comprehensive income/(deficit) for the year Accumulated funds balance Balance of equity at the end of year

a b a

2010-11 ANNUAL REPORT

Notes to the Financial Statements 30 June 2011

Prior period errors and reclassification (continued) ii. Restatement of statement of comprehensive income, statement of financial position and statement of changes in equity for the year ended 1 July 2009 financial statement line items impacted by the prior period error. 2009 $â&#x20AC;&#x2122;000

$â&#x20AC;&#x2122;000

2009 $â&#x20AC;&#x2122;000

previous reported

prior period error

restated

c b

(9,494) (10,460) (33,351) (10,321) (10,321)

(134) 369 235 235 235

(9,628) (10,091) (33,116) (10,086) (10,086)

470 32,396 20,263 2,095 91,184 123,580 11,931 70,838 75,867 47,713 47,713 47,713

(349) (349) (9,625) (1,561) 9,625 (1,561) (1,910) 2,034 2,034 2,034 (3,944) (3,944) (3,944)

121 32,047 10,638 534 9,625 89,623 121,670 13,965 72,872 77,901 43,769 43,769 43,769

(10,321) 47,713 47,713

235 (3,944) (3,944)

(10,086) 43,769 43,769

note Other expenses Loss on revaluation of investment property Total expenditure Surplus/(deficit) for the year Total comprehensive income/(loss) for the year Statement of financial position Lease incentive asset Total current assets Property, plant and equipment & software Lease incentive Other asset Total non-current assets Total assets Other liabilities Total non-current liabilities Total liabilities Net assets Accumulated funds Total equity Statement of changes in equity Total comprehensive income/(loss) for the year Accumulated funds balance Balance of equity at the end of year

a b a

AUSTRALIAN TECHNOLOGY PARK

Other asset

Balance at the beginning of the financial year Loss from fair value adjustment Balance at the end of year

2011 $’000

2010 $’000

9,625 (1,750) 7,875

9,625 9,625

Other asset represents the Company’s right to the use of 350 car parking spaces which was exchanged as part of a commercial development agreement with a private entity. The value of this asset is determined by an independent valuer at 31 May 2011. In 2009 the company received as part of a transaction for the lease of land to Channel 7 the “right to receive car park revenue” in respect of 350 car spaces at Lot 101, Eveleigh, NSW. This right is considered as an asset. The value of the consideration at the time of recognition was independently measured at fair value based on projected income by Preston Rowe Paterson (PRP). The right is saleable to a third party and is subject to market fluctuation. The company is currently earning car parking income using the right in a manner similar to that of other investment properties. Therefore, the primary purpose for holding this right is to earn income and for capital appreciation. Even though, the characteristic of the asset is of investment nature, it does not properly fit into the current accounting standards as investment property. The “right to receive car park revenue”, is therefore disclosed in the Statement of Financial Position as an “Other Non-Current” other asset. As of 31 May 2011, PRP determined the value of the right to be $7.875m, and the asset was written down from $9.625m to $7.875m to maintain a fair value as of 30 June 2011. When the asset was recognised in 2009, the company created a similar amount as deferred income as a liability in the Statement of Financial Position. This amount represented the present value of future minimum lease payments and is amortised on a straight-line basis over the period of right to earn income. The effect of the recognition of this unique transaction as an asset and deferred income liability may appear to be not consistent with current Australian Accounting Standards. Notwithstanding this the company believes that nondisclosure of the asset and deferred income liability would not reflect the substance of the transaction may mislead a reader as to the true and fair value of the entity.

END OF AUDITED FINANCIAL STATEMENTS

2010-11 ANNUAL REPORT

APPENDICES Where appropriate, these appendices relate to the Authority, which wholly owns the Company.

Corporate Credit Cards ATPSL regularly reviews the use of credit cards for business purposes. Credit cards are authorised by the Managing Director for company and are controlled by the General Manager. The credit cards have a monthly transaction limit of $5,000 with a maximum transaction value of $5,000. The credit card expenditure is reviewed monthly in accordance with the ATPSL Credit Card Policy.

Disability Access Plan Under the disability access policy, the Company aims to provide all people with reasonable access to the resources and spaces governed by the company. This includes providing adequate parking places and ease of movement throughout the park. The Company management will work closely with the Disability Access Advisory Group of the Authority to continually improve access for visitors, residents and workers within its precincts.

Ethnic Affairs Priorities Statement Risk Management and Insurance The Company is covered for workers compensation, motor vehicle accidents, property loss, public liability and various other insurable risks through its parent organisation which makes contribution to the Treasury Managed Funds. It is a requirement that all suppliers to the Company have the appropriate insurance coverage, including public liability, professional indemnity, workers compensation (where required by law) and product liability.

Consumer Response The Company is committed to handling public enquiries courteously and efficiently and, in the case of complaints, to responding to issues quickly, equitably and in accordance with procedures detailed in Complaints Handling Policy, which it applies to its operations.

The Company recognises and values the different linguistic, religious, racial and ethnic backgrounds of all the people of NSW and endorses the four principles of multiculturalism as set out in the Community Relations Commission and Principles of Multiculturalism Act 2000. The Company complies with and endorses the provisions of the Equal Employment Opportunity legislation, which forms part of the NSW Anti-Discrimination Act 1977. Staff come from a broad range of ethnic backgrounds, and are encouraged to use their language skills to assit in ATPSL business.

Total Positions

Male Employees

Female Employees

NESB background

Indigenous

Males Senior Management Positions

Female Senior Management Positions

Freedom of Information No Freedom of Information requests were received.

AUSTRALIAN TECHNOLOGY PARK

Occupational Health and Safety Policy

Contact Details

The Company applies an audited systems approach in the management of its Occupational Health and Safety (OHS) Policy with regard to its activities. The Company’s commitment and ongoing management of OHS is set out in this policy which is reviewed annually. The Company proactively manages the occupational health, safety and welfare of all its employees, contractors performing work on its behalf and visitors to its premises through the implementation of its OHS Management System.

Australian Technology Park Sydney Limited 2 Locomotive St Suite 3220, Locomotive Workshop Eveleigh NSW 2015 Phone: (02) 9209 4220 Facsimile: (02) 9209 4222 Office hours: 8.30am to 5.30pm Monday to Friday

The Company is committed to zero workplace accidents and actively manages a safety culture that promotes its duty of care to co-workers, customers, contractors and visitors to ATP.

ISSN: 1445-7369

Waste Reduction and Purchasing Policy The Government’s Waste Reduction and Purchasing Policy (WRAPP) requires all State Government agencies to develop and implement a WRAPP Plan to reduce waste and increase purchases of recycled content materials where they are both cost and performance competitive Whilst the Company is a company limited by guarantee governed by Corporations Act, it is a wholly owned subsidiary of a government sector agency - the Redfern-Waterloo Authority. The Company Management regard it as prudent to integrate these public sector principles and policies of sustainable environment management into its operations. The Company’s environmental policy underpins a commitment to the principles of ecologically sustainable development in the provision of its services.

2010-11 ANNUAL REPORT

INDEX 35

Auditor’s Independance Declaration

Charter

Community

Conference and Exhibition Centre

Corporate Governance

Credit

Director’s Declaration

Director’s Report

Financial Statements

From the Chairman and Managing Director

Heritage and Sustainabilty

Independant Auditor’s Report

Innovation

Management and Achievements

Minister’s Letter

Operational Structure and Performance

AUSTRALIAN TECHNOLOGY PARK

Australian Technology Park Sydney Limited (02) 9209 4220 (02) 9209 4222 info@atp.com.au www.atp.com.au

Office hours: 8.30am to 5.30pm Monday to Friday

2010 - 2011 ANNUAL REPORT

Phone: Facsimile: Email: Web:

ISSN: 1445-7369

AUSTRALIAN TECHNOLOGY PARK

This report is printed on Mega Recycled Silk A2+, an environmentally considered sheet consisting of 50% post consumer recycled waste and 50% FSC certified fibre. Mega Recycled is manufactured at the Gohrsmuhle Mill, who have their own waste water treatment plant and are ISO 14001 EMS approved. Mega Recycled is made elemental chlorine free.