Townsville Enterprise Annual Report 2018/19
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WHAT’S INSIDE
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PRIORITIES
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WELCOMING VISITORS
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BOARD OF DIRECTORS
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INTERNATIONAL MARKETING
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COMMITTEES
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TOURISM INDUSTRY DEVELOPMENT
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A WORD FROM OUR CHAIR & CEO
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COMMUNITY ENGAGEMENT
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ADVOCACY
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TOWNSVILLE ENTERPRISE EVENTS
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INVESTMENT ATTRACTION
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EMERGING LEADERS PROGRAM
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INDUSTRY DEVELOPMENT
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MEMBERSHIP
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TOURISM MARKETING
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OUR MEMBERS
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EVENT ATTRACTION & DEVELOPMENT
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2018/2019 FINANCIAL REPORT
Image: Megan MacKinnon
Connect, grow and promote Townsville North Queensland
Townsville Enterprise ADVOCACY
Promoting North Queensland to achieve sustainable economic and lifestyle benefits for the region and Australia
PRIORITIES
POLICY
Developing key policy positions that affect the growth and development of the region
INVESTMENT ATTRACTION
INFRASTRUCTURE Attracting public and private sector funding for economic infrastructure
JOBS
Working with key stakeholders to attract investment for major regional projects of signficance
FOR THE TOWNSVILLE NORTH QUEENSLAND COMMUNITY MEMBERSHIP
EVENTS
Supporting, promoting and advocating for our members
Events development and acquisition
MARKETING & COMMUNICATIONS
AVIATION Working with the Townsville Airport on the attraction of domestic and international flights
Image: Megan MacKinnon
INDUSTRY DEVELOPMENT
Developing the tourism and events industry with a specific focus on edutourism and cruise
Marketing and promoting the region to attract new residents, new investment and visitors
Building the region is everyone’s business. As a member of Townsville Enterprise, your business will be supported by strategic activities that attract investment, create jobs and improve liveability in the Townsville North Queensland region.
Palm Island
Townsville Enterprise is only as strong as our members and with their support we can continue to drive growth for Townsville North Queensland.
Join with us.
2018/2019 BOARD OF DIRECTORS
CHAIR
DEPUTY CHAIR
Kevin Gill Chief Operating Officer
Professor Sandra Harding
Executive Director & Chief Financial Officer
Chief Executive Officer The Ville Resort–Casino
Managing Director Honeycombes Property Group
James Cook University
(Appointed 28/05/2019)
Paul Victory
Moya Steele
General Manager Growth & Innovation
Principal Keir Steele Lawyers Pty Ltd
Port of Townsville Limited
Peter Honeycombe
Vice-Chancellor & President
Sun Metals Corporation Pty Ltd
Michael Jones
Carey Accountants Pty Ltd
Townsville City Council
Kathy Danaher
Chief Executive Officer
Director
Mayor
Townsville Airport Pty Ltd
Ranee Crosby
Joe Carey
Cr Jenny Hill
SeaLink Travel Group
Jeffrey Wall CBE Owner Jeffrey Wall Public Affairs (Resigned 29/10/2018)
COMPANY SECRETARY Michelle Warrington
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Townsville Enterprise Annual Report 2018/19
2018/2019 COMMITTEES FINANCE AUDIT & RISK Joe Carey (Chair) Carey Accountants Pty Ltd Aileen Cull / Shawn Anderson Queensland Country Peter Duffy wilson/ryan/grose Lawyers Kevin Gill Townsville Airport Pty Ltd Luke Guazzo Otto’s Fresh Food Market Observer: Patricia O’Callaghan Townsville Enterprise Limited Observer: Michelle Warrington Financial Advisor/Company Secretary
ECONOMIC DEVELOPMENT STRATEGIC ADVISORY
TOURISM AND EVENTS STRATEGIC ADVISORY
Ranee Crosby (Chair) Port of Townsville Limited
Michael Jones (Chair) The Ville Resort–Casino
Kari Arbouin CQUniversity
Paul Victory (Deputy Chair) SeaLink Travel Group
Brett Brogan Townsville City Council
Chris Briggs SeaLink Travel Group
Eber Butron Townsville City Council
Brett Brogan Townsville City Council
Stuart Cunningham Core Developments
Amanda Byrne Queensland Airports Ltd
Kathy Danaher Sun Metals Corporation Pty Ltd
Angus Campbell Riverside Marine
Ashley Finn Pacific Islands International
Mark Evans Paronella Park
Peter Lindsay OAM Associate Member
Norman Jenkin Tourism Magnetic Island (TMI)
David Lynch Townsville City Council
Jacqui James-Eggins North Queensland Toyota Cowboys
Paul Taylor Glencore
Associate Professor Laurie Murphy James Cook University
Carl Valentine PVW Partners
Fred Nucifora Great Barrier Reef Marine Park Authority
Isabelle Yates Townsville Airport Pty Ltd
Patricia O’Callaghan Townsville Enterprise Limited
Patricia O’Callaghan Townsville Enterprise Limited
Bridget Woods / Lisa Woolfe Townsville Enterprise Limited
Observer: Paul Holden Department of State Development, Manufacturing, Infrastructure and Planning
Observer: Kevin Gill Townsville Airport Pty Ltd
Observer: Wayde Chiesa Townsville City Council Townsville Enterprise Annual Report 2018/19
Observer: June Powell Department of State Development, Manufacturing, Infrastructure and Planning 7
Kevin Gill Chairman Patricia O’Callaghan Chief Executive Officer
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Image: Megan MacKinnon Townsville Enterprise Annual Report 2018/19
A WORD FROM OUR CHAIR & CEO Despite the challenges of an unprecedented flooding event, a strong year of collaborative advocacy campaigns, tourism marketing, and economic development initiatives resulted in the opening of the Galilee Basin and over $400M of critical policy and project commitments for North Queensland, supported by 8.7% membership growth. The opening of the Galilee Basin, $400M of secured policy and project commitments, the management of the North Queensland Flood Recovery tourism campaign and the launch of a revamped Emerging Leaders Program were highlights of a significant year of activities for Townsville Enterprise that resulted in near record membership growth and membership participation. Townsville Enterprise grew membership by 8.7% and increased membership participation in events by 32% through outcome-focused initiatives that were designed to support North Queensland after one of the most challenging periods in the region’s history. The launch of the Federal Election Campaign in Canberra with 90 business leaders, the flood recovery delegation with Northern Mayors and industry associations within two weeks of the monsoonal floods, and the Queensland wide Galilee Basin Campaign that was backed by members and supported strongly by the Townsville Bulletin and local media all resulted in tangible projects and policy commitments. The approval of the $2B Adani Carmichael Mine, the full funding of the $193M Port channel widening, $200M
Townsville Enterprise Annual Report 2018/19
towards Haughton Water Pipeline Stage 2 and $54M to progress the business case of the Hells Gates Dam and construction of Big Rocks Weir in Charters Towers were local wins for a community that was united in advocacy efforts to secure commitments. The Federal Government Election advocacy program in summary secured full and partial commitments for 14 of the 18 priorities from the LNP and ALP, and strong support from the minor parties. The program was further enhanced by State and Federal Budget Submissions and additional commitments were secured for projects such as DriveIt NQ, the Museum of Underwater Art and the Cowboys Community and Sports Excellence Centre that were led by strong local community groups and supported by Townsville Enterprise. The Tourism and Events team were proud to support flood recovery efforts by managing the North Queensland Flood Recovery tourism campaign on behalf of Tourism and Events Queensland and the northern councils. Efforts to drive the local tourism industry were further prioritised with Townsville Enterprise supporting
Townsville City Council and the Townsville Triathlon and Multisport Festival in the successful bid of the 2021 ITU Multisport World Championships. The team secured new events and conferences which will inject more than $22M in economic benefit to the region through the event bid fund, our volunteers welcomed 16 cruise ships, the Townsville North Queensland Edutourism Consortium re-signed a second three-year Memorandum of Understanding (MOU) with American Universities International Programs and the team won a Gold award on behalf of a number of partners at the 2018 Queensland Tourism Awards for the ‘Driving the Great Barrier Reef’ marketing campaign. A review and revamp of the Emerging Leaders Program after five years of delivery was also a priority for Townsville Enterprise with the refreshed program launched in July 2019. Overall, the organisation invested into activities that have resulted in real outcomes and will provide a platform for members to rebuild and grow their businesses after what has been a difficult year, but one the organisation is also proud of.
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“Townsville Enterprise has been invaluable in rallying support for the mining sector across Northern Queensland. Through their effective advocacy activities that demonstrated the economic contribution the region’s resources sector makes to the national and state economy, Townsville Enterprise was instrumental in securing the significant investment and jobs for North Queensland that the Carmichael Mine represents.” Lucas Dow, Chief Executive Officer, Adani Mining
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Adani Australia Townsville Enterprise Annual ReportImage: 2018/19
ADVOCACY Significant advocacy priorities have converted to the opening of the Galilee Basin and over $400M worth of commitments across the past 12 months, with the organisation partnering with several stakeholders to deliver tangible outcomes for the community while ensuring the region remains at the forefront of political agendas. 2018/19 HIGHLIGHTS G alilee Basin opening following state-wide regional led campaign $ 200M Haughton Water Pipeline Stage 2 $ 24M Hells Gates Dam Business Case + $30M Big Rocks Weir Stage 1 $ 193M Port Channel Widening Project greenlighted $ 15M Cowboys Community and Sports Excellence Centre $12M DriveIt Motorsport Precinct $ 1.5M Museum of Underwater Art Phase 2 at Palm Island $ 20M per year to subsidise below-rail user access charges on the Mount Isa Line
CASE STUDY Townsville Enterprise led a robust 2019 Federal Election campaign commencing in August 2018 in Canberra where the region’s key election priorities were presented to all sides of politics as a part of a delegation of 90 North Queensland business representatives to Parliament House. At the beginning of the Election campaign in April, a strategic decision was made with industry partners that the Galilee Basin would be a centrepiece for the advocacy program. Townsville Enterprise had been a strong advocate for the Galilee with a consistent position for
$ 2.5B Australia Singapore Military Training Initiative land deal finalised
LOOKING FORWARD
F ederal Election advocacy program secured full and partial commitment for 14 of the 18 priorities from the LNP and ALP, and strong support from the minor parties
As a united business community, we will continue to remain consistent in our advocacy to position the North for a strong future. Water, energy, resources, connecting the North West,
Townsville Enterprise Annual Report 2018/19
over eight years which remained so during the election campaign. The Galilee Basin did not detract from engaging with all parties on the broader platform of priorities and securing commitments towards 14 of the 18 priorities from major and minor parties is a testament to that engagement. The outcome of the election platform and State Government green-lighting the Adani Carmichael Project was a success for our members, community, partners and regional Queensland, creating jobs and economic opportunity for generations.
tourism development and promotion, CBD activation and strong policies around decentralisation and taxation will all assist in making the North an attractive place to invest, visit and live.
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“PVW Partners had the pleasure of working closely with Townsville Enterprise on the SME Flood Recovery Program, along with government advocacy initiatives. These projects are incredibly important to the future of our region and Townsville Enterprise is to be commended for its leadership.� Carl Valentine, Managing Partner, PVW Partners
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Image: Megan MacKinnon Townsville Enterprise Annual Report 2018/19
INVESTMENT ATTRACTION Townsville Enterprise works with North Queensland’s economic strategic advantages to attract new industry and investment across the region. The organisation engages directly with industry stakeholders, policy makers and local business to target and advocate for new investments that drive jobs, infrastructure and improved revenue flows for the Townsville North Queensland economy. TESTIMONIAL
2018/19 HIGHLIGHTS Development of key investment attraction collateral including Quarterly Economic Snapshot in partnership with AEC and James Cook University.
“Townsville Enterprise is one of QRC’s key regional partners in the campaign to support mining and investment in the Galilee Basin. Through a strong advocacy and media campaign, QRC worked with TEL to make sure our regions weren’t forgotten during the Federal election campaign. On this project, and the other projects we have partnered on, TEL has been an unwavering supporter of regional jobs and investment and is prepared to back up words with action.” Ian Macfarlane, Chief Executive, Queensland Resources Council
Townsville Enterprise Annual Report 2018/19
Provided support for key infrastructure and investment advocacy through the production of economic reports, supplier recommendations, delegations to key political centres, familiarisation tours and introductions to business and political leaders. Production of Economic Impact Models for informed decision making on private and public developments.
Establishment of local strategic advocacy groups that support large scale investment agenda; outcomes include securing Commonwealth grant funding to deliver the Hells Gates Dam Business Case, delivery of the North Queensland Agricultural Market Supply Chain Study (NQAMSCS) and coordination of regional support efforts associated with the realisation of the opening of the Galilee Basin. Monthly regional information release to subscribed members.
INVESTOR SUPPORT Townsville Enterprise can assist investors by providing the following: Regional economic data to support building a business case Advocacy for large scale projects with extensive economic benefits, including job creation
Economic Impact Model to assist in building political and community support Access to key contacts and business leaders to assist in building project supplier and customer networks Promotional resources
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“Townsville Enterprise’s recent completion of the North Queensland Agricultural and Market Supply Chain Study is the first study to comprehensively estimate the potential demand for five key agricultural commodities that can be produced in our region. The study now sets the framework for similar approaches in other northern Australian regions.” Professor Allan Dale, Chief Scientist, CRCNA
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Townsville Enterprise Annual Report 2018/19
INDUSTRY DEVELOPMENT Townsville Enterprise is committed to driving strategic industry development to unlock the region’s potential and build upon its existing economic opportunities. Producing targeted policies and projects, in partnership with key stakeholders, has generated employment, productivity and robust sustainable growth now and into the future. CASE STUDY Cooperative Research Centre for Developing Northern Australia (CRCNA) Townsville Enterprise, in partnership with CRCNA and the North Queensland Regional Organisation of Councils (NQRoC), produced the final North Queensland Agricultural Market and Supply Chain Study in May 2019. The study was undertaken to better inform stakeholders including governments, primary producers and investors on how to most effectively allocate finite resources. The study identified $3B in unmet global demand and five priority products across ten of Australia’s leading export destinations, providing invaluable insight into the future pathways of the North Queensland agricultural sector.
Townsville Enterprise Annual Report 2018/19
2018/19 HIGHLIGHTS The completion of the North Queensland Agricultural Market and Supply Chain Study. The study identified five priority products that present North Queensland with the greatest opportunity, which are beef, avocado, macadamia, soybean and on-shore aquaculture. Adani’s Carmichael Mine received approval on both the State and Federal level, signalling the opening of the Galilee Basin.
Bipartisan funding commitments from Federal and State Governments towards the Port of Townsville Channel Capacity Upgrade commencing the $193M project. Federal Government commitment to the Hells Gates Dam Business Case and Big Rocks Weir Stage 1. ‘Australia Singapore Military Training Initiative’ (ASMTI) land deal finalised and a focus on supporting local interests in leveraging opportunities emerging from the $2.25B agreement.
GROW YOUR BUSINESS Townsville Enterprise provides opportunities for members to be involved in strategic industry development plans by participating in working groups and round tables. Members are provided business support through access to tailored economic reports, regional economic data and business development advice.
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“The Flood Recovery Marketing Campaign implemented by Townsville Enterprise gave the region national exposure at a time when we needed it most! Off the back of this campaign Magnetic Island had an extremely strong tourism season. Our business continues to grow and we are thankful to have the support of Townsville Enterprise. The team continue to provide us ample marketing and PR opportunities which we could never achieve on our own.� Lisa Sampson, Big Mama Sailing (Magnetic Island)
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Image: Jesse Lindemann Townsville Enterprise Annual Report 2018/19
TOURISM MARKETING In partnership with our operators and key stakeholders, Townsville Enterprise undertook a program of marketing campaigns and PR activities to grow awareness of the destination and inspire travellers to visit Townsville North Queensland.
CASE STUDY
Jetstar and Townsville Airport As a part of the Flood Recovery Campaign, Townsville Enterprise partnered with Jetstar and Townsville Airport to deliver a strategic, tactical marketing campaign in Brisbane, Sydney and Melbourne markets. The campaign had a strong conversion focus and was delivered predominately through digital channels. Campaign results were unprecedented, securing more than 8,000 additional inbound passengers over a short 10-day period. The halo effect of this campaign also saw growth across all airlines from these markets.
Townsville Enterprise Annual Report 2018/19
2018/19 HIGHLIGHTS Flood Recovery Marketing Campaign Following the February monsoon event, Townsville Enterprise received resilience funding from Tourism and Events Queensland to activate a national marketing campaign to build awareness that Townsville North Queensland was open for business. The campaign, supported by Townsville City Council and local operators, was activated after the waters subsided and included a live outside broadcast and weather crosses from national breakfast program The Today Show, a partnership with Jetstar, and a marketing partnership with Ignite Travel which featured a PR campaign worth over $5M in media value. The region also hosted a series of renowned Instagram influencers and undertook a national radio campaign with Southern Cross Austereo. The Flood Recovery campaign was one of the largest tourism marketing activities that the region had seen, with operators reporting that the tourism season post floods was one of their most successful.
2019 Events Campaign In March 2019, Townsville Enterprise, in partnership with Townsville City Council, Tourism and Events Queensland, Townsville Airport, Townsville Bulletin, and local tourism operators launched the regional events campaign. The initiative targeted regional Queensland (including Townsville), Darwin and digital extensions into Brisbane, Sydney and Melbourne. The campaign launched the 2019 Townsville North Queensland Events and Insider Guide which was distributed online and as a printed magazine insert into the Townsville Bulletin, The Australian Brisbane CBD, Mackay Mercury, NT News, Toowoomba Chronicle, Cairns Post and Gold Coast Bulletin. A targeted social media campaign supported the launch and a partnership with Webjet reached more than two million people and achieved 3,085 inbound passenger bookings.
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“Yongala Dive participated in the No Place Like Home Campaign and was thrilled to use this opportunity to launch our new Stanley Reef Tours. We received significant coverage, were able to generate some great social media content and had bookings as a result of this campaign.� Matt King, Yongala Dive
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Image: Yongala Dive Townsville Enterprise Annual Report 2018/19
TOURISM MARKETING (Continued) 2018/19 HIGHLIGHTS ’Always on’ PR Strategy Strategic media pitching and hosting proved highly successful, providing state and national coverage for the region across Queensland Weekender, The Lonely Planet, The Guardian, ABC National, National Geographic, iFish, Let’s Travel and Australian Traveller. ‘ No Place Like Home’ Campaign Townsville Enterprise partnered with the Townsville Bulletin to launch the ‘No Place like Home’ Visiting Friends and Relatives (VFR) campaign, targeted at the local drive market. The partnership saw Townsville Bulletin journalists famil the region and experience several of our hero products. Nine operators were featured in a series of weekend editorial stories in the Townsville Bulletin, supported by social media
CASE STUDY advertising promoting an exclusive offer for locals. The campaign reached an audience of 10.3 million people, generating $95.6K in PR value from 54 separate mentions across print and socials. Articles appeared not only in the Townsville Bulletin, but the Courier Mail, Adelaide Advertiser, Cairns Post, Herald Sun, Mackay Mercury, Daily Telegraph, Twitter and Facebook. Social media advertising reached 85,149 people with 1,304 click-throughs to the deals. ’Driving the Great Barrier Reef’ Campaign Townsville Enterprise was awarded the Richard Power Destination Marketing Gold Award at the Queensland Tourism Awards and was a finalist in the Australian Tourism Awards for the ‘Driving the Great Barrier Reef’ Campaign.
Townsville Helicopters: Meanwhile in Australia with Nick ‘Honey Badger’ Cummins Townsville Enterprise pitched several operators and experiences to Tourism and Events Queensland as a part of a PR series called Meanwhile in Australia with Nick ‘Honey Badger’ Cummins. This documentary style series followed Nick on a road trip along the top end of Australia from the Whitsundays to Cape Tribulation. Townsville Helicopters was one of the operators featured during this series, receiving coverage on National Geographic, Fetch TV and Qantas Inflight, reaching an audience in excess of three million people.
GROW YOUR BUSINESS Local tourism businesses that are members of Townsville Enterprise can receive significant marketing opportunities, including: Promoting and selling your product on townsvillenorthqueensland.com.au Featuring your experiences in key printed publications including the ‘Townsville North Queensland Holiday and Travel Guide’
Townsville Enterprise Annual Report 2018/19
Promoting your tourism business in Townsville Enterprise marketing campaigns Featuring your products/experiences in media and digital influencer famils Providing marketing support and guidance from industry experts Priority feature in PR pitches and media opportunities
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“Townsville Entertainment and Convention Centre is proud to have been a host of the 2018 EB Games and Zing Pop Culture Conference, which was secured by the Townsville Convention Bureau and Townsville North Queensland Bid Fund. The versatility of our venue was showcased by the transformation of our main arena into a gaming cinema for 450 delegates from around Australia and New Zealand.� Tim Pow, General Manager, Townsville Entertainment and Convention Centre
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Image: Megan MacKinnon Townsville Enterprise Annual Report 2018/19
EVENT ATTRACTION & DEVELOPMENT Through the Townsville Enterprise Convention Bureau and Townsville North Queensland Bid Fund, Townsville Enterprise is passionate about establishing the region as a leader in destination events. This is achieved through the attraction of leisure, sporting and business events which drive visitation. CASE STUDY Townsville Enterprise Convention Bureau manages the region’s representation to the business events industry, showcasing the unique benefits and opportunities of hosting meetings, incentives, conferences and exhibitions in Townsville North Queensland. This past year, Townsville Enterprise represented the region at the Asia-Pacific Incentives and Meetings Expo (AIME) and the Professional Conference Organisers Association (PCOA) Conference. These events were attended by over 4,400 key business event planners and decision makers. The Ville Resort– Casino and Mercure Townsville accompanied Townsville Enterprise as presenting partners and promoted Townsville North Queensland, resulting in 30+ event planner meetings and over $2M of business event leads for the region.
Townsville Enterprise Annual Report 2018/19
2018/19 HIGHLIGHTS This year, the Townsville North Queensland Bid Fund assisted in attracting six new events to the region, including supporting Townsville City Council, Townsville Triathlon Festival and Tourism & Events Queensland to secure the 2021 International Triathlon Union (ITU) World Multisport Championships. These six events are anticipated to deliver over $22M in economic impact to the region over the coming years. Since its inception, the Bid Fund has secured 41 new events for Townsville North Queensland with an estimated economic impact of $65.9M.
This financial year alone, seven Bid Fund events attracted over 12,000 attendees and generated $11.7M for the region – a 17% increase on the initial estimations for those events. The Convention Bureau launched a new website promoting the services, resources and support available to event organisers which also showcases Townsville as an ideal business events, conference and exhibition destination. The website can be visited at townsvilleconventionbureau.com.au.
GET INVOLVED Townsville Enterprise Convention Bureau is focused on the attraction of business events to the Townsville North Queensland region. The Convention Bureau works with its members to coordinate bids in an
effort to secure the hosting rights of events with strong local industry links. If you have attended a business event that you believe would benefit from being held in the region, please contact the Convention Bureau.
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“Everyone is friendly! It’s beautiful, fresh, relaxing, fun and has everything you need. I recommend Townsville 100%.” Sharon Jones (Facebook)
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Image: Megan MacKinnon Townsville Enterprise Annual Report 2018/19
WELCOMING VISITORS The Townsville Enterprise Tourism Volunteer Program comprises a dedicated and passionate group of supporters who play a pivotal role in promoting Townsville North Queensland’s attractions and experiences by providing a friendly and knowledgeable welcome to visitors to the region. CASE STUDY
2018/19 HIGHLIGHTS Volunteers welcomed over 27,000 visitors through the Visitor Information Centres and Service located at Bulletin Square in the city centre, Breakwater Terminal and Billabong Sanctuary on the Bruce Highway south of Townsville. Attended several local events across the region including the Townsville 400, Dam Fine Rally and Australian Festival of Chamber Music, offering information and advice to event attendees.
Welcomed 16 cruise ships to Townsville between August 2018 and April 2019 with over 20,000 passengers and crew on board. The volunteer team attended seven familiarisation tours throughout the region, including trips to Magnetic Island and Hinchinbrook. A number of volunteers also attended the annual Regional Tourism Volunteers Conference in the Burdekin Shire.
JOIN THE TEAM! The Townsville Tourism Volunteers worked closely with SeaLink Queensland to help on the Adventure Series Tours to Cape Cleveland Lighthouse. A small number of volunteers attend each tour to provide assistance to tour guests and assist in the telling of the Cape Cleveland Lighthouse tour story.
Townsville Enterprise Annual Report 2018/19
New Volunteers with a keen interest in Townsville North Queensland, travel and meeting people are always welcome to join the team. Get in touch to find out how!
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“The Australian Tourism Exchange (ATE) has been crucial for international trade at Magnetic Island Ferries. The ability to meet with international agents on a face to face basis is immeasurable in creating and sustaining beneficial relationships. The experience was an asset to our Sales & Marketing team and has helped expand our avenues in the industry. Townsville Enterprise supported our team and company with pre, during and post advice and assistance to best ready ourselves for the international market.� Angus Campbell, Director, Riverside Marine
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Image: Megan MacKinnon Townsville Enterprise Annual Report 2018/19
INTERNATIONAL MARKETING Townsville North Queensland’s key international tourism markets include UK, Germany, New Zealand and educational groups from the USA. This year, Townsville Enterprise took a strategic approach on our international visitor strategy. This included continuing to build the Edutourism market, partnering with neighbouring regional tourism organisations to reach international markets through campaign activity and a renewed focus on inbound distribution and trade. CASE STUDY
Reef HQ Great Barrier Reef Aquarium was a foundational member of the Townsville North Queensland Edutourism Consortium and continues to support the region’s positioning as a destination of excellence in faculty led study abroad programs. During the 2018/19 financial year Reef HQ Aquarium facilitated reef education programs to over 370 students from 13 universities and three high schools from across USA and Singapore. Reef education programs aim to inspire all to care for the Great Barrier Reef and to protect it for future generations to experience and enjoy.
Townsville Enterprise Annual Report 2018/19
2018/19 HIGHLIGHTS Townsville Enterprise along with eight local tourism businesses attended Australia’s largest tourism expo, the 2019 Australian Tourism Exchange (ATE) in Perth. Over 60 appointments were completed during the event and the Townsville North Queensland Product Manual was launched. Townsville Enterprise partnered with Queensland Tourism Industry Council (QTIC) to provide mentoring pre, during and post ATE to ensure businesses maximised the event.
is a part of a multi-year partnership between Tourism and Events Queensland Europe and the seven Regional Tourism Organisations along the Great Barrier Reef. The campaign educates consumers and trade about the diversity of premier experiences both on the Reef and on the adjoining mainland. During 2018/19 the campaign increased Queensland’s market share from Germany by 8%, increased campervan hires by 15% and secured over 1,200 passenger bookings (flights).
The Great Barrier Reef Campaign was created to increase visitation to the Great Barrier Reef and adjoining destinations from the lucrative German market. It
The Edutourism Consortium continued to showcase Townsville North Queensland to a number of students across the United States and Singapore.
GET INVOLVED Receive mentoring and support to get your business international and trade ready and join the cooperative booth at the Australian Tourism Exchange. The mission of the Edutourism Consortium is “To deliver diverse world-
class immersive learning experiences in a sustainable environment”. If your business can help deliver this mission, Townsville Enterprise and the Edutourism consortium want to hear from you.
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“We attended the 2019 Tourism Futures Forum and gained insightful information on digital marketing, how to leverage events and the customer journey. As part of our sponsorship, we also received a valuable one on one opportunity with a speaker which allowed us to discuss our goals as a regional Council.� Lisa Green, Charters Towers Regional Council
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Image: Budd Photography Townsville Enterprise Annual Report 2018/19
TOURISM INDUSTRY DEVELOPMENT Townsville Enterprise is committed to delivering a range of business development programs to meet the needs of the Townsville North Queensland Tourism and Events industry. Practical workshops and events across a range of relevant topics provide the tools, support and networking opportunities to assist operators in growing their business. TESTIMONIAL
2018/19 HIGHLIGHTS Townsville Enterprise, in conjunction with Queensland Government’s Department of Innovation and Tourism Industry Development, QTIC and Tourism and Events Queensland launched 10 free digital workshops and mentoring sessions for businesses to upskill, develop and enhance their competencies across several areas. A trade mentoring program was also launched this year to support those
“Nominating JAM in the 2018 Townsville North Queensland Tourism and Events Awards inspired us to do an evaluation of service standards within the business and set some new goals. The team was thrilled to win the restaurant category. The feedback from the judges also provided a valuable opportunity to continue to develop our crew and inspired the management team with further training.”
operators who were participating in ATE (Australian Tourism Exchange).
The 2018 Townsville North Queensland Tourism and Events Awards acknowledged the achievements of the local tourism and events industry, with 22 operators and six event finalists across the six categories. The Tourism Futures Forum in 2019 was well attended by 100 industry representatives. The forum included 13 speakers on topics including what makes a global tourism destination, working with millennials, driving visitation through events and plenty more.
GROW YOUR BUSINESS As a Townsville Enterprise member, tourism and events businesses have access to a range of exclusive business development workshops, tourism and events awards, forums, programs and networking events, ensuring operators are aware of upcoming industry
opportunities and have the skills to leverage these opportunities. Member updates and networking functions also provide a platform for local operators to share insights, experiences and collaborate with other members within the industry.
Matt Merrin, Owner, JAM
Townsville Enterprise Annual Report 2018/19
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“Townsville Enterprise has been the driving force behind Townsville North Queensland’s push for the opening of the Galilee Basin. They have advocated at all levels of Government, and Townsville’s voice has been heard and listened to. Townsville’s ability to lobby as a cohesive force is due to the catalyst that is Townsville Enterprise. It’s for these reasons Paradise Outdoor Advertising proudly maintains a Platinum Membership with Townsville Enterprise.” Mitch James, CEO, Paradise Outdoor Advertising
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Image: Megan MacKinnon Townsville Enterprise Annual Report 2018/19
COMMUNITY ENGAGEMENT A key focus for 2018/19 was ensuring members and the community were not only informed and engaged on the key activities undertaken by Townsville Enterprise but given the opportunity to be a part of the journey to connect, grow and promote the region. Building upon strong relationships with media partners allowed effective communication of Townsville Enterprise’s key messages and regional priorities on a local, state and national level. 2018/19 HIGHLIGHTS Townsville Enterprise discussed the region’s key priorities as a panellist on national Sky News programs David Speers, Paul Murray Live and Peter Gleeson’s News Talk with Gleeso, the importance of the Galilee Basin on ABC’s 730 Report and Triple J’s Hack program, and national morning program ABC News Breakfast in response to the 2019 Federal Budget. ‘Election Scorecards’ in Townsville Bulletin weekend editions across the Federal Election campaign period provided information to the community on each party’s commitments towards key projects and policies in the region. Reached an audience of 146.5 million from 765 Townsville Enterprise generated print, broadcast and social media news mentions, creating $1.35M in PR value for the organisation across the five-week election campaign. Social media: Facebook up 20% to 9,000+ followers LinkedIn up 50% to 4,500 followers Twitter up 28% to 3,200 followers
CASE STUDY The significant media attention the Galilee Basin ‘Pledge your Support’ advocacy campaign generated across the state and country contributed to the State Government green-lighting the Carmichael Mine Project after almost a decade of uncertainty. All politicians were requested to sign a corporate pledge supporting the ‘immediate opening of the Galilee Basin’. This pledge was driven by overwhelming community demand for a black and white commitment from local politicians to clarify their position on a project that would deliver jobs and economic prosperity to regional Queensland. The campaign, spearheaded with an open letter signed by over 20 North Queensland business leaders sent to the State Government, printed in the Townsville Bulletin, and supported by digital activities,
resulted in majority of local MPs, federal candidates, and all regional mayors pledging their support towards the immediate opening of the Galilee Basin. The pledge campaign was strongly supported by members, industry leaders, businesses and the broader community, such as the North Queensland Toyota Cowboys, Queensland Resources Council, Townsville Chamber of Commerce, and media partners including the Townsville Bulletin, Paradise Outdoor Advertising, GO Southern Cross Austereo, Grant Broadcasters and Success NQ. GALIL
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Townsville Enterprise Annual Report 2018/19
29
“It was a pleasure to be a part of the 2019 Mining and Resources Industry Forum. I was super impressed with the work of Townsville Enterprise. Congratulations to all involved. AusIMM will be very keen to be a part of the Forum next year and beyond.� Stephen Durkin, CEO Australian Institute of Mining and Metallurgy (AusIMM)
Image: Megan MacKinnon
TOWNSVILLE ENTERPRISE EVENTS Despite the rescheduling of our corporate events calendar following the floods, Townsville Enterprise held a record 34 events across the year, providing our members and partners greater business, investment, networking and professional development opportunities than ever before. This resulted in a 32% increase in average attendance across key events. CASE STUDY
2018/19 HIGHLIGHTS North Queensland Agribusiness Futures Forum: How to Harness Agritech 4.0 to Survive & Thrive
Townsville Enterprise hosted its largest event to date, ‘Northern Advantage’, a Townsville Bulletin Business Breakfast showcasing major projects in the region including the North Queensland Stadium, Adani’s Carmichael Project, Australia Singapore Military Training Initiative, Port of Townsville Channel Widening Project and Sun Metals Zinc Refinery Expansion. Attracting over 320 attendees, the event highlighted a positive future for our region and demonstrated our business community’s ability to band together during adversity.
Townsville Enterprise Annual Report 2018/19
The forum provided 160+ attendees the opportunity to hear from the State Minister for Agriculture and Fisheries, Hon Mark Furner MP, Federal Minister for Resources and Northern Australia, Senator the Hon Matt Canavan, preliminary findings from the North Queensland Agricultural Market and Supply Chain Study, and the Federal Government announcing Townsville Enterprise to lead the Hells Gates Dam Business Case. North Queensland Mining and Resources Industry Forum The fourth Mining and Resources
Industry Forum was our largest to date. MC’d by the Hon Tony McGrady and supported by the Australian Minerals Council of Australia, the event featured 20+ industry leading speakers and panellists including Queensland Resources Council CEO, Ian Macfarlane. Knowledge Exchange Series Supported by James Cook University, free business workshops presented by the region’s business leaders and industry experts were provided as a part of the Knowledge Exchange Series. Aimed at growing our regional businesses’ capabilities, this inaugural series proved a great success with up to 160 registrations across Townsville, Charters Towers, Ayr and Ingham.
GET CONNECTED Townsville Enterprise events aim to maximise our members’ potential through engaging and exclusive content, access to latest opportunities and high level networking. By creating a platform where industry professionals are able
to meet and connect with one another, we enable businesses to establish long-term strategic relationships. As a member, you have access to free and/ or discounted event tickets as well as an opportunity to co-host an event with us. 31
“Searching for the right way to progress my career and effect positive change for healthcare in North Queensland, I joined the Townsville Enterprise Emerging Leaders Program with the support of The Mater Hospital. The experience of the mentoring component of this program is unparalleled. A professional direction not previously considered, I have positively redefined my career pathway shifting from clinical to business management at Mater. The scope of community connections and the professional relationships that I have developed through both the projects component and Emerging Leaders module days leaves a legacy; an invaluable platform from which I will continue to grow my professional career.� Michele Burge, Mater Health Services North Queensland
EMERGING LEADERS PROGRAM The Emerging Leaders Program is designed by Townsville Enterprise to educate a select group of people on the issues, opportunities and challenges that impact Townsville North Queensland, as well as on a state, national and global scale. It is a succession plan for the region, ensuring the skills, inside knowledge and talent within the community is retained and developed. Townsville Enterprise has successfully delivered five programs and graduated 110 participants from the Townsville North Queensland region. TESTIMONIAL “Life Giving Psychology and Coaching is very pleased to be partnering with Townsville Enterprise to deliver the business coaching element for the Townsville Enterprise Emerging Leaders Program in 2019. The program and its successful outcomes in nurturing identified leaders to build resilient and thriving businesses and workplaces aligns perfectly with our organisation.” Dr Christine O’Connor & Carolyn Mcmanus
NEW PROGRAM In 2019, the program went through a strategic review to identify opportunities to strengthen, evolve and innovate what had been offered since its inception. As a result, there were many significant modifications made and the new program, which will now run over a six-month period, will commence in July 2019 with sixteen participants. Townsville Enterprise members will play a key role in supporting the delivery of the program providing mentorship, education, inspiration and insights. This provides our members
with an opportunity to meaningfully contribute to the future of our community as well as giving great value to participants by providing them access to some of the most successful business leaders and organisations in the country. A business coaching element will be introduced for the participants with individualised professional development plans that connect the leadership days, mentorships and projects with each member of the new cohort.
GET INVOLVED If you are interested in learning more about the Emerging Leaders Program and how you can become involved,
Townsville Enterprise Annual Report 2018/19
contact Townsville Enterprise to find out how it can benefit your business and career.
33
“As a member of the flood recovery program I expanded my networks with local businesses, developed future opportunities for growth, and received advice and insights from Southern Cross Austereo and PVW. Creating those networks has been supported by Townsville Enterprise, with media coverage on insurance challenges and the opportunity to speak on behalf of Townsville Caravan Parks to the Tourism Board in relation to Townsville RV Tourism. The mentoring with Chris Briggs from SeaLink has been a highlight, providing valuable guidance and input on the business direction.� Fiona Lidgett, Owner, Bush Oasis Caravan Park
34
Image: Megan MacKinnon Townsville Enterprise Annual Report 2018/19
MEMBERSHIP Across 2018/19 Townsville Enterprise has been focused on delivering superior member servicing, business flood recovery and driving a regional economic uplift that positively impacts on our members. As a result, we have seen a rise in Townsville Enterprise membership by 8.7%. 2018/19 HIGHLIGHTS SME Flood Recovery Program In response to the February 2019 floods, Townsville Enterprise launched the SME Flood Recovery Program. The purpose of this program is to provide flood affected small to medium sized businesses with support over 12 months to assist in continuing to reach their business objectives. Services provided to program participants includes access to business planning, financial advisory, mentoring, marketing support and networking opportunities, in conjunction with program partners PVW Partners and Southern Cross Austereo.
MILESTONES Greater Benefits & More Opportunities To provide greater value to our members, we introduced several new benefits and created more opportunities for our members to take advantage of. This includes: M ember Noticeboard K nowledge Hub E xhibition Opportunities C onnection Event Series P rofessional Development Opportunities
8 .7% growth in membership 5% increase in our business 8 network with 3,700+ professionals now a part of our database 6 2.83% increase in website users 5 2.09% increase in website visits
ACCELERATE YOUR BUSINESS With a network of businesses and more than 3,800 industry professionals, your membership with Townsville Enterprise provides a number of opportunities for your business to leverage.
Townsville Enterprise Annual Report 2018/19
Please check our membership prospectus for an overview of your benefits or contact your Account Executive to find out more.
35
OUR MEMBERS AS AT 30 JUNE 2019 Townsville Enterprise is only as strong as our members and with their support we can continue to drive growth for Townsville North Queensland. Thank you to the following 2018/19 members and partners: LIFE MEMBERS Alison Ferry Emeritus Professor Edward Scott AM Geoffrey Plante Graham Jackson OAM
GOLD
BRONZE
Glencore Copper
AE SMITH
James Cook University
Australian Future Energy Pty Ltd
Port of Townsville Limited
Australian Institute of Marine Science
Success North Queensland
Bendigo Bank Townsville
Sun Metals Corporation Pty Ltd
Carpentaria Gold Pty Ltd
SILVER
CQUniversity Crowe
Burdekin Shire Council
Cubic Defence Australia Pty Ltd
Charters Towers Regional Council
Davco Farming
Energy Queensland Limited
Edify Energy Pty Ltd
John Bearne
Grant Broadcasters Pty Ltd
Gabrielli Constructions Pty Ltd
Hinchinbrook Shire Council
Gallagher Insurance Brokers
Laurence Lancini
The Ville Resort–Casino
Honeycombes Property Group
Greg Peel
PRINCIPAL Townsville City Council
MAJOR Townsville Airport Pty Ltd
PLATINUM TIER 1 Townsville Bulletin
PLATINUM Adani Mining Pty Ltd
COPPER
Hutchinson Builders Incitec Pivot Limited
AEC Group Pty Ltd
iSeek Pty Ltd
Badge
Lendlease Communities Townsville Pty Ltd
Key Motors
Mater Health Services North
Laing O’Rourke Australia
Queensland
MMG Limited
Mike Carney Toyota
Northern Management Group Pty Ltd
Palm Island Aboriginal Shire Council
Pacific Marine Group Pty Ltd
Parkside Development Pty Ltd
Shamrock Civil Engineering Pty Ltd
Queensland Country Credit Union (QCCU)
TAFE Queensland
RGM Maintenance
Ticketmaster
RPS Australia East Pty Ltd
Townsville Hospital and Health Service
SeaLink Queensland Pty Ltd
Paradise Outdoor Advertising
South 32
Southern Cross Austereo
Stadiums Queensland Windlab Development Australia Pty Ltd
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Townsville Enterprise Annual Report 2018/19
LEVEL 4
Watpac Construction Pty Ltd
Discovery Parks Pty Ltd
AECOM Australia Pty Ltd
Westpac Banking Corporation
Ede Events
ARC – The Australian Reinforcing
Wilson Ryan Grose Lawyers
Electrotek
Company
Especially Australian
Aurizon Operations Ltd
LEVEL 2
CPB Contractors Pty Ltd
A Touch of Salt
Fairfield Central Medical Practice
EconomX
Absolute Cravings
Feel Good Events and Party Hire
LGIAsuper
Alliance Airlines Pty Limited
Flanagan Consulting Group
National Australia Bank NAB
Alluvium Consulting
Flight Centre Business Travel
Pacific Islands International
Amaroo on Mandalay
Fuji Xerox Business Centre (Townsville)
Park Regis Townsville Pty Limited
Ampcontrol Pty Ltd
Gallagher Security Pty Ltd
St Hilliers
AON Risk Services
Geon Property
Townsville Catholic Education
ARUP Pty Ltd
GHD Pty Ltd
Townsville Taxi
Bakehouse On Eyre
Grace Worldwide Australia
Wilmar Sugar Australia Limited
Banjo Paterson Motor Inn
Grand Hotel and Apartments
Base Backpackers Magnetic Island
Harbourside Coldstores Refrigerated
Breakwater Marina
Logistics
ANZ Banking Group Limited
Brothers Leagues Club Townsville P/L
Hastings Printers
B M Webb Holdings Pty Ltd
Burdekin Theatre
James Cook University Student Association
Carey Accountants Pty Ltd
Cactus Jacks Restaurant
James Cook University Halls of Residence
Colliers International Townsville Pty Ltd
Cassowary Coast Regional Council
James Cook University Vet Pty Ltd
Cowboys Leagues Club Ltd
Castletown Shopping World
Knight Frank (Townsville)
CRC for Developing Northern Australia Ltd
CBD Services
Laird O’Regan
Delta Office Solutions
Charters Towers Chamber of Commerce
Magnetic Island Ferries
Explore Property
Charters Towers Visitor Information Centre
Maidment Development Group Pty Ltd
Gleeson Properties Pty Ltd
Civil Mining & Construction Pty Ltd
Mariners North Holiday Apartments
Hotel Grand Chancellor
Clarity Hearing Solutions Pty Ltd
Markwell Group
Keir Steele Lawyers
Colonial Leisure Group – Nautilus Aviation
Martin Locke Homes Pty Ltd
KPMG Australia
Colonial Leisure Group – Orpheus
MEGT (Australia) Ltd
Lancini Property and Development
Island Resort
Melvilles Entertainment
Loloma Investments
Commonwealth Bank
Mendi Constructions
NEM Group Pty Ltd
Community Information Centre
Mercure Townsville
North Queensland Gas Pipeline Pty Ltd
Townsville Inc.
Metal Manufactures Limited
Outer Limits Adventure Fitness
Connolly Suthers Lawyers
Michels Catering & Events
PDS (QLD) Pty Ltd
Core Developments NQ PTY LTD
Milford Planning Consultants
PVW Partners
Coutts Redington Pty Ltd
Minelec Pty Ltd
Simon George & Sons
Cox Architecture
North Queensland Elite Rodeo
Thrifty Car Rental
CuString Pty Ltd – CopperString 2.0
North Queensland Toyota Cowboys
Townsville Turf Club
Dalle Cort Financial Services
NPS Corporate
LEVEL 3
Townsville Enterprise Annual Report 2018/19
Expedia Group
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<< LEVEL 2 (Continued) Nutrition Depot Australia NZ
Tide Cafe – Catering
Cates Chemist
Oaks Gateway Suites
Tony Ireland Stadium
City Oasis Inn
Oaks Metropole
Townsville Brewery
Cleveland Bay Chemical Company
Oasis Lifestyle Village Pty Ltd
Townsville Central Hotel
CQ Environmental Pty Ltd
Oracle Studio Pty Ltd
Townsville Civic Theatre
Dancenorth Australia
Otto’s Fresh Food Market
Townsville Grammar School
Detour Coaches
Pen To Paper Pty Limited
Townsville Rotary Markets
Elite Executive Pty Ltd
Perc Tucker Regional Gallery
Townsville RSL Stadium
EMU Sportswear
Pinnacles Gallery
Travel Associates
Epic Environmental Pty Ltd
Piper Promotions (Townsville
Tropical Homes
E Property Consultants NQ
Running Festival)
Tropical Topless Car Rentals
Event Cinemas
Premise
V8 Supercars Australia Pty Ltd
Extrastaff
Priceline Pharmacy Fairfield Central
Value Added Engineering NQ (VAE)
Fantasea Destination Adventure
Quayside Terminal
Vivo Property Group
Magnetic Island
Queensland Museum
Wagners Holding Company Limited
Flinders Shire Council
Quest Townsville
Yongala Dive
Frosty Mango
Quest Townsville on Eyre
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FTEC Electrical Pty Ltd
Rapid Global
LEVEL 1
Reef and Rainforest Research Centre
Aquascene Charters
Gilberton Outback Retreat
Limited
Adrenalin Snorkel and Dive
GWG Valves & Poly Fittings
Reef HQ Great Barrier Reef Aquarium
Aquarius on the Beach
Hamilton Island Limited
Returned & Service League of Australia
Arcadia Village Motel
Herbert Hotel
(Qld Townsville Sub Branch)
Australian Festival Of Chamber Music
Herveys Range Heritage Tea Rooms
Rider Levett Bucknall Qld Pty Ltd
B&G Law
Hidden Valley Cabins and Tours
Riverway Arts Centre
Beach House Motel
Hinchinbrook Resorts Lucinda
Rockfield Technologies Australia Pty Ltd
Big 4 Aussie Outback Oasis Holiday Park
Ingham Travel Agency Pty Ltd
Rydges Southbank Townsville
Big Mama Sailing
JAM
SeaLink Travel
Billabong Sanctuary
Jardine Lloyd Thompson Pty Ltd
Shorehouse Townsville
Bluewater Caravan Park
Jewellery By Design
Skytrans
Brazier Motti Holdings Pty Ltd
Kernow Charters Towers
SLR Consulting Australia Pty Ltd
Bridgewater Restaurant
Kordamentha
Southern Cross Ten Qld
Budd Photography
Kwik Kopy Printers
St Patrick’s College Townsville Limited
Bungalow Bay Koala Village
Liddles Air Service Pty Ltd
Sunbus Townsville
Business Binoculars
Longboard Bar & Grill
Suncorp Bank
C Bar Holdings Pty Ltd
Lotsa Print and Signage
Sunland Group Limited
Campbell Scientific Australia
Mark Crawley Consulting
Sunsuper
Campbells Coaches
Mungalla Aboriginal Corporation
The Digimen
Cardwell Visitor & Heritage Centre
Murdering Point Winery Pty Ltd
The Marketing Factory
Cassowary Coast Regional Council
North Australian Publishing Co Pty Ltd
The Pier
Castaways Resort & Spa Mission Beach
Northern Conquest Charters Pty Ltd
Get Branded
Townsville Enterprise Annual Report 2018/19
Northern Logistics & Warehousing Pty Ltd
ASSOCIATE
Wayde Chiesa
Ocean Breeze By The Strand
Cathedral School of St James & St Anne
YWAM Medical Ships – Australia Ltd
Pacific Rim Technical Services
Colin Harkness
Paronella Park
Commerce North West Inc
RECIPROCAL
Peppers Blue on Blue Resort – Magnetic
Cootharinga North Queensland
Ayr Chamber of Commerce
Island
Dale Last MP Member for Burdekin
Gulf Savannah Development
Pilgrim Sailing Pty Ltd
Dolan Hayes
Hinchinbrook Chamber of Commerce
Planpac Group Pty Ltd
DriveIt NQ Pty Ltd
Industry and Tourism
Pleasure Divers Magnetic Island
Dyan Mitchelhill
Home Hill Chamber of Commerce
Professional Bull Riders Australia Pty Ltd
Endeavour Foundation
Housing Industry Association Ltd (HIA -
Rambutan Pty Ltd
Julia Creek Dirt & Dust Festival
North Queensland)
Raven Tours
Mission Beach Tourism Inc
Master Builders Queensland
Resource Co-ordination Partnership Pty Ltd
National Trust of Australia (Qld) Ltd
Mount Isa to Townsville Economic
Rowes Bay Beachfront Holiday Park
Northern Australia Primary Health Ltd
Development Zone Inc (MITEZ)
Ruswin Locksmith & Security
NQ Dry Tropics
North Queensland Club
Saddle Mountain Homestead
NQ Xtreme Adventures
Queensland Fruit and Vegetables Ltd
Secura Lifestyle
Palm Island Community Company Ltd
Regional Development Australia
Stand OUT ADV Pty Ltd
Peter Lindsay
Townsville & North West Qld Inc
Texas Longhorn Wagon Tours & Safaris
Queensland Resources Council
Tourism Magnetic Island
TICS – Testing Inspection and
Roxanne Grey
Tourism Whitsundays
Calibration Services
Scott Stewart MP
Townsville Business Development Centre
Tour Townsville
Scott Verrall
Townsville Business Women’s Circle
Townsville Helicopters
selectability
Townsville Chamber of Commerce
Townsville Motor Boat and Yacht Club Ltd
Senator The Hon Ian Macdonald
Townsville Region Indigenous Business
Tropical Containers
Simon Lee
Network
Tropical Travel & Accommodation
Townsville Business Lions Club Inc
Wambiana Station
Umbrella Studio
EVENT, PROGRAM & PROJECT PARTNERS A dani Mining A usIMM A ustcham A ustralian Mines B urdekin Shire Council C harters Towers Regional Council C olliers International C ommonwealth Bank C opperString 2.0 Townsville Enterprise Annual Report 2018/19
C reate and Evaluate Deloitte D epartment of Industry, Innovation and Science D iscovery Parks E xpedia E xtrastaff G allagher Insurance G et Branded G lencore Copper H erli Group i Seek
J ames Cook University J CU Connect K PMG L oloma Jewellers L otsa Print & Signage M agnetic Island Ferries M arkwell Group M ETS Ignited M inerals Council of Australia N EM Group N orth Queensland Toyota Cowboys
P ort of Townsville P remise S imon George & Sons S outhern Cross Austereo S un Metals T he Ville Resort–Casino T ownsville Airport T ownsville Bulletin V 8 Supercars W ilmar W indlab Y urika
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Image: Megan MacKinnon
TOWNSVILLE ENTERPRISE LIMITED FINANCIAL REPORT 2018/2019 The Directors of Townsville Enterprise Limited present their report
Developments and expected results of operations
together with the financial statements of the entity, for the year ended 30 June 2019 and the Independent Audit Report thereon.
Director details
Investing Member Funds to secure millions of dollars in commitments for North Queensland
The following persons were Directors of Townsville Enterprise
The opening of the Galilee Basin, $400M of secured policy and
Limited during the whole of the financial year and up to the date of
project commitments, the management of the North Queensland
this report unless otherwise stated.
Flood Recovery tourism campaign and the launch of a revamped Emerging Leaders Program were highlights of a significant year
Kevin Gill – appointed 26/05/2008
of activities for Townsville Enterprise that resulted in near record
Jenny Hill – appointed 25/05/2012
membership growth and membership participation.
Joe Carey – appointed 11/02/2011 Ranee Crosby – appointed 15/05/2014
Townsville Enterprise grew membership by 8.7% and increased
Kathy Danaher – appointed 28/05/2019
membership participation in events by 32% through outcome focused
Sandra Harding AO – appointed 20/02/2013
initiatives that were designed to support North Queensland after
Peter Honeycombe – appointed 14/11/2013
what would have to have been one of the most challenging periods
Michael Jones – appointed 20/06/2018
in the region’s history. It was also a year however that presented
Moya Steele – appointed 21/10/2015
opportunities to build the region for a stronger future and it was
Paul Victory – appointed 14/11/2013
important for the organisation to remain focused on this. The variability
Jeffrey Wall – appointed 19/04/2017 (resigned 29/10/2018)
in income from FY2018 to FY2019 is attributed to the significant
Principal activities
projects that Townsville Enterprise is awarded year on year. Townsville Enterprise’s membership streams continue to be stable and growing.
The company’s principal continuing activities during the year consisted of the promotion of tourism and economic development in
Advocacy activities to stimulate jobs, confidence and investment
North Queensland.
therefore took front and centre. The launch of the Federal Election
Review of operations
Campaign in Canberra with 90 business leaders, the flood recovery delegation with Northern Mayors and industry associations within
Comments on the operations and the results of those operations
two weeks of the monsoonal floods, and the Queensland wide
are set out below:
Galilee Basin Campaign that was backed by members and supported strongly by the Townsville Bulletin and local media all resulted in
O perating revenue for the year ended 30 June 2019 totalled
tangible projects and policy commitments. The approval of the $2B
$4,093,819 (2018: $5,193,749)
Adani Carmichael Mine, the full funding of the $193M Port Channel
T he operating surplus/(deficit) for the year ended 30 June 2019 totalled
widening, $200M towards Haughton Water Pipeline Stage 2 and $54M
$(148,471) (2018: $(61,659))
to progress the business case of the Hells Gates Dam and construction of Big Rocks Weir in Charters Towers were local wins for a community that was united in advocacy efforts to secure commitments.
Townsville Enterprise Financial Report 2018/19
41
41
<< Continued The Federal Government Election advocacy program in summary
A review and revamp of the Emerging Leaders Program after five
secured full and partial commitments for 14 of the 18 priorities
years of delivery was also a priority for Townsville Enterprise with
from the LNP and ALP, and strong support from the minor parties.
the refreshed program launched in July 2019. The organisation is
The program was further enhanced by State and Federal Budget
committed to developing and supporting the next generation of
Submissions and additional commitments were secured for projects
business leaders and this program has been an important pillar in
such as DriveIt NQ, the Museum of Underwater Art, and the Cowboys
that strategy.
Community and Sports Excellence Centre that were led by strong local community groups and supported by Townsville Enterprise.
Further flood recovery efforts focused on assisting directly impacted businesses. The ‘SME Flood Recovery Program’ was launched to
The Tourism and Events team were proud to support flood recovery
support small businesses that were directly impacted by the flooding
efforts by managing the North Queensland tourism campaign on
events and ongoing recovery efforts. The program provides SMEs
behalf of Tourism and Events Queensland and the northern councils.
with a complimentary 12-month membership with access to business
8,000 new inbound passenger flight bookings, over 138,000 online
planning, mentoring and networking resources in order to reach
engagements, and national media coverage promoting the ‘open for
their business objectives.
business’ message supported a strong winter season of visitation for our industry.
During the course of the financial year Townsville Enterprise invested $148K of the organisation’s $1 million reserves into
Efforts to drive the local tourism industry were further prioritised
activities supporting members and the broader North Queensland
with Townsville Enterprise supporting Townsville City Council and
community. This investment has resulted in real outcomes and will
the Townsville Triathlon and Multisport Festival in the successful bid
provide a platform for members to rebuild and grow their businesses
of the 2021 ITU Multisport World Championships. The team secured
after what has been a difficult year but one the organisation is also
new events and conferences which will inject more than $22M in
proud of.
economic benefit to the region through the event bid fund, our volunteers welcomed 16 cruise ships to Townsville, the Townsville North Queensland Edutourism Consortium re-signed a second threeyear Memorandum of Understanding (MOU) with the American Universities International Programs and the team won a Gold award on behalf of a number of partners at the 2018 Queensland Tourism Awards for the ‘Driving the Great Barrier Reef’ marketing campaign.
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Townsville Enterprise Financial Report 2018/19
DIRECTORS KJ Gill
B. Com, CA Chairman 7 years 3 months Director 11 years 1 month Chief Operating Officer – Townsville Airport Pty Ltd, Mount Isa Airport Pty Ltd, Longreach Airport Pty Ltd Special Responsibilities Member – Finance Audit & Risk Committee
JL Hill
BSc MPHTM, MAICD Deputy Chairman 7 years 1 month Mayor – Townsville City Council Member – Local Government Association of Queensland Member – North Queensland Regional Organisation of Councils Chairman – Townsville Breakwater Entertainment Centre Joint Venture Chairman – Townsville Local Disaster Management
JW Carey
B. Com, CPA, Dip FP Director 8 years 4 months Director – Bohle Developments Pty Ltd Director – Carey Group of Companies Director – Carsenish Nominees Pty Ltd Director – CGP Holdings Pty Ltd Director & Secretary – Coorparoo Debenture Pty Ltd Deputy Chairman – Cowboys Leagues Club Limited Chairman – Cowboys Leagues Club Finance Audit & Risk Committee Director – Cowboys Rugby League Football Club Limited Director – Dexat Holdings Pty Ltd Director – Hinchinbrook Nominees Pty Ltd Director – Strategic SMSF Pty Ltd Director – The Boardroom CFO Pty Ltd Director & Secretary – Wabbitz Pty Ltd Director – Yomstar Holdings Pty Ltd Director – Yomstar IP Pty Ltd Special Responsibilities Chairman – Finance Audit & Risk Committee
RL Crosby
LLB, GAICD Director 5 years 1 month Member – James Cook University Human Resources Committee Chair – North Queensland Defence Advisory Board Chief Executive Officer – Port of Townsville Limited Deputy Chair – Queensland Ports Association Member – Townsville Industrial Development Board Director – Townsville Maritime Museum Limited Special Responsibilities Chairman – Economic Development Strategic Advisory Committee (SAC)
K Danaher
B.Sci (Hons. Marine Biology, B.Bus (Accounting), Certified Practicing Accountant – CPA Director 1 month Executive Director and Chief Financial Officer – Sun Metals Corporation Pty Ltd Director – Sun Metals Holdings Director – Townsville Logistics Pty Ltd Director – Townsville Marine Logistics Pty Ltd Member – Australian Energy Market Commission (AEMC) Reliability Panel Special Responsibilities Member – Economic Development SAC
SL Harding AO
BSc (Hons) ANU, MPub.Admin UQ, PhD NCSU, Hon Doc JIU, FACE, FQA, FAICD, FAIM Director 6 years 4 months Director – Advance Cairns Commissioner – Australian Centre for International Agricultural Research Council Member – Australian Institute of Marine Science Director – Australian American Education Leadership Foundation Ltd Director – Cowboys Rugby League Football Club Limited Deputy Chair – Foundation of Australian Literary Studies Vice-Chancellor and President – James Cook University Member – Queensland Futures Institute Council
PE Honeycombe
B.Bus, FAICD, FAIM Director 5 years 7 months Director – Central Paddington Pty Ltd Director – CH Group of Companies Director – College of the Nations Limited Director – Coorparoo Developments Pty Ltd Director – Deeragun Trade Centre Pty Ltd Director – Eight on Thomas Street Pty Ltd Director – HD Group of Companies Director – HIG Riverway (JV) Pty Ltd Director – HIGB Pty Ltd Director – Honeycombes Group of Companies Director – Horizon Funds Managers Pty Ltd Director – HPG Property Management Services Pty Ltd Director – HMKY1 Pty Ltd Director – VHDF Nominee No 1 and 2 Pty Ltd Director – The Waterfront Precinct Pty Ltd Director – Townsville Tourism Marine Precinct Pty Ltd
MD Jones
Director 1 year 1 month Vice Chair – AFL Townsville Sole Director & Secretary – Jonesy Pty Ltd, Acting for the Jones Family Trust Director – Ronald McDonald House Charity – North Australia Charter Special Responsibilities Chairman – Tourism and Events SAC
MA Steele
BA.LLB, MUDIA, MAICD Director 3 years 8 months Director/Principal – Keir Steele Lawyers Pty Ltd Director – KSW Legal Group Pty Ltd Director – MA Steele Pty Ltd Director – MAASK Investments Director – SunWater Limited (until October 2018)
PA Victory
MA, Grad Dip Bus, BA Director 5 years 7 months Director – Kazac Holdings Director – Museum of Underwater Art Ltd Director – P&L Victory SMSF General Manager Business Growth & Innovation – SeaLink Travel Group Special Responsibilities Deputy Chairman – Tourism and Events SAC
JC Wall CBE
Director 1 year 6 months (Resigned 29/10/2018) Owner – Jeffrey Wall Public Affairs Townsville Enterprise Financial Report 2018/19
43
MEETINGS OF DIRECTORS
Contributions on winding up
The number of meetings of the Company’s Board of Directors (‘the Board’) and of each Board Committee held during the year ended 30 June 2019, and the number of meetings attended by each director were:
The Company is incorporated under the Corporations Act 2001 and is a Company limited by guarantee. If the Company is wound up, the constitution states that each member is required to contribute a maximum $20 each towards meeting any outstanding obligations of the entity.
Full meetings of directors
Meetings of Finance Audit & Risk Committee
No significant environmental regulations apply to the Company.
Auditor’s independence declaration
A
B
A
B
Kevin Gill
8
8
3
7
Jenny Hill
3
8
–
–
Joe Carey
8
8
6
7
This directors’ report is signed in accordance with a resolution of the Board of Directors, pursuant to section 298(2)(a) of the Corporations Act 2001.
Ranee Crosby
7
8
–
–
On behalf of the directors
Kathy Danaher
1
2
–
–
Sandra Harding AO
6
8
–
–
Peter Honeycombe
6
8
–
–
Michael Jones
6
8
–
–
Moya Steele
6
8
–
–
Paul Victory
6
8
–
–
Jeffrey Wall CBE
1
2
–
–
A = Number of meetings attended. B=N umber of meetings held during the time the director held office or was a member of the committee during the year.
Directors’ benefits Since the end of the previous financial year no directors have received or become entitled to receive a benefit (other than a benefit included in the aggregate amount of the emoluments received or due and receivable by directors), by reason of a contract made by the Company, or a related corporation with the director or with a firm they are a member of, or a company in which they have a substantial financial interest to the financial statements.
Insurance of officers During the financial year, Townsville Enterprise Limited paid a premium to insure the directors and secretaries of the Company. Under the arrangement the premium is unable to be disclosed.
44
Environmental regulations
44
A copy of the auditor’s independence declaration as required under section 307C of the Corporations Act 2001 is set out below.
Kevin Gill Director Townsville 12 September 2019
AUDITOR’S INDEPENDENCE DECLARATION TO THE DIRECTORS OF TOWNSVILLE ENTERPRISE LIMITED In accordance with the requirements of section 307C of the Corporations Act 2001, as lead auditor for the audit of Townsville Enterprise Limited for the year ended 30 June 2019, I declare that, to the best of my knowledge and belief, there have been: i no contraventions of the auditor independence requirements as set out in the Corporations Act 2001 in relation to the audit; and ii no contraventions of any applicable code of professional conduct in relation to the audit. Crowe NQ
Mark Andrejic Partner Townsville 12 September 2019
Townsville Enterprise Financial Report 2018/19
STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME FOR THE YEAR ENDED 30 JUNE 2019 Note
2019
2018
$
$ 5,138,871
Revenue and other income Revenue
2
3,911,027
Other income
2
182,792
54,878
4,093,819
5,193,749
(1,713,148)
(1,786,838)
(2,143,867)
(2,956,977)
(201,350)
(317,729)
Total revenue and other income Expenses Employee benefits expense Other expenses
3
Travel Finance costs Administration Depreciation and amortisation expense Total expenses Surplus/(deficit) for the year attributable to the members of Townsville Enterprise Limited Other comprehensive income Total comprehensive income/(loss) for the year
(4,694)
(5,549)
(97,190)
(91,943)
(82,041)
(96,372)
(4,242,290)
(5,255,408)
(148,471)
(61,659)
–
–
(148,471)
(61,659)
This statement should be read in conjunction with the notes to the financial statements.
STATEMENT OF FINANCIAL POSITION AS AT 30 JUNE 2019 Note
2019
2018
$
$
Assets Current assets Cash and cash equivalents
4
824,468
1,068,398
Trade and other receivables
5
1,283,033
1,383,548
Other assets Current assets
123,245
126,071
2,230,746
2,578,017 140,071
Non-current assets Property, plant and equipment
6
97,369
Intangibles
7
52,354
73,321
149,723
213,392
2,380,469
2,791,409
Non-current assets Total assets
Townsville Enterprise Financial Report 2018/19
45
<< STATEMENT OF FINANCIAL POSITION AS AT 30 JUNE 2019 (CONTINUED) Note
2019
2018
$
$
345,790
154,468
129,394
73,883
Liabilities Current liabilities Trade and other payables
8
GST/PAYG payable Employee benefits
9
Finance lease liabilities Other liabilities
10
Total current liabilities
56,965
96,246
–
24,225
795,519
1,241,891
1,327,668
1,590,713
Non-current liabilities Finance lease liabilities Employee benefits
9
–
–
47,878
47,302
47,878
47,302
Total liabilities
1,375,546
1,638,015
Net assets
1,004,923
1,153,394
Reserves
510,725
711,968
Retained surplus
494,198
441,426
1,004,923
1,153,394
Total non-current liabilities
Equity
Total equity
This statement should be read in conjunction with the notes to the financial statements.
STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 30 JUNE 2019 Retained Surplus
Reserves
Balance at 1 July 2017 Surplus/(deficit) for the year attributable to members Balance at 30 June 2018 Balance at 1 July 2018 Transfers to/from reserves Surplus/(deficit) for the year attributable to members Balance at 30 June 2019
Total Equity
$
$
$
711,968
503,085
1,215,053
–
(61,659)
(61,659)
711,968
441,426
1,153,394
711,968
441,426
1,153,394
(201,243)
201,243
–
–
(148,471)
(148,471)
510,725
494,198
1,004,923
This statement should be read in conjunction with the notes to the financial statements.
46
46
Townsville Enterprise Financial Report 2018/19
STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 JUNE 2019 Note
2019
2018
$
$
Operating activities Receipts from members and customers
2,719,383
3,551,276
Receipt of grants
1,355,816
1,526,884
(4,291,166)
(5,327,778)
Payments to suppliers and employees Interest income Net cash provided by operating activities
14,634
23,076
(201,133)
(226,542)
Investing activities Purchase of property, plant and equipment Payments for intangible assets Net cash used in investing activities
(18,372)
(36,732)
â&#x20AC;&#x201C;
(37,525)
(18,372)
(74,257)
Financing activities Net proceeds/repayments from finance lease
(24,225)
(13,053)
Net cash from/(used in) financing activities
(24,225)
(13,053)
Net change in cash and cash equivalents
(243,930)
(313,852)
Cash and cash equivalents, beginning of year
1,068,398
1,382,250
824,468
1,068,398
Cash and cash equivalents, end of year
4
This statement should be read in conjunction with the notes to the financial statements.
Townsville Enterprise Financial Report 2018/19
47
NOTES TO THE FINANCIAL STATEMENTS NOTE 1. SIGNIFICANT ACCOUNTING POLICIES The principal accounting policies adopted in the preparation of financial statements are set out below. These policies have been consistently applied to all the years presented unless otherwise stated. 1.1 New and revised standards that are effective for these financial statements Townsville Enterprise Limited has adopted all of the new, revised or amended accounting standards and interpretations issued by the Australian Accounting Standards Board (AASB) that are mandatory for the current reporting period. New standards adopted as at 1 July 2018 AASB 9 Financial Instruments replaces AASB 139 Financial Instruments: Recognition and Measurement. AASB 9 makes major changes to the previous guidance on the classification and measurement of financial assets and introduces an ‘expected credit loss’ model for impairment of financial assets. When adopting AASB 9, Townsville Enterprise Limited has applied transitional relief and opted not to restate prior periods. Differences arising from the adoption of AASB 9 in relation to classification, measurement, and impairment are recognised in opening retained earnings as at 1 July 2018. There were no significant impacts to the measurement and recognition of financial instruments for Townsville Enterprise Limited. 1.2 Future impact of accounting standards not yet effective At the date of authorisation of the financial report, the expected impacts of new or amended Australian Accounting Standards issued but with future commencement dates are set out below. AASB 15 Revenue from Contracts with Customers – AASB 15 establishes a new revenue recognition model and changes the basis for deciding whether revenue is to be recognised over time or at a point in time. The standard also expands and improves disclosures about revenue. When this standard is first adopted for the year beginning 1 July 2019, there is unlikely to be any material impact on the transactions and balances recognised in the financial statements. AASB 1058 Income of Not-for-Profit Entities - AASB 1058 is effective from 1 July 2019 and prescribes the income recognition requirements
48
48
for transactions where the consideration to acquire an asset is significantly less than the fair value of the asset principally to enable the not for profit entity to further its objectives; and volunteer services received by not for profit entities. As a change from AASB1004 notfor-profit entities will now have a policy option to account for donated services at fair value if the fair value can be reliably measured. When this standard is first adopted for the year beginning 1 July 2019, there is unlikely to be any material impact on the transactions and balances recognised in the financial statements. AASB 16 Leases – AASB 16 requires all leases to be accounted for ‘onbalance sheet’ by lessees, other than short-term and low value asset leases. The standard also provides new guidance on the definition of lease and on sale and lease back accounting. Based on a preliminary assessment, the standard is not expected to have a material impact on the transactions and balances recognised in the financial statements when it is first adopted for the year beginning 1 July 2019. 1.3 Basis of preparation These general purpose financial statements have been prepared in accordance with Australian Accounting Standards – Reduced Disclosure Requirements and interpretations issued by the Australian Accounting Standards Board (AASB), and associated regulations and the Corporations Act 2001, as appropriate for not-for-profit oriented entities. Historical cost convention The financial statements have been prepared under the historical cost convention. Critical accounting estimates The preparation of the financial statements requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the Company’s accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the financial statements are disclosed in the relevant accounting policies within note 1 and are based on historical experience and on the various factors, including expectations of future events management believes to be reasonable under the circumstances. Townsville Enterprise Financial Report 2018/19
1.4 Revenue Revenue is recognised when it is probable that the economic benefit will flow to the Company and the revenue can be reliably measured. Revenue is measured at the fair value of the consideration received or receivable. Membership or partnership revenue Membership or partnership revenue is recognised in the Statement of Profit or Loss and Other Comprehensive Income in respect of the period to which it relates. Grants Grant revenue is recognised in the Statement of Profit or Loss and Other Comprehensive Income when Townsville Enterprise Limited obtains control of the grant and it is probable that the economic benefits gained from the grant will flow to the entity and the amount of the grant can be reliably measured. If conditions are attached to the grant which must be satisfied before it is eligible to receive the contribution, the recognition of the grant as revenue will be deferred until those conditions are satisfied. Where grant revenue is received and Townsville Enterprise Limited incurs an obligation to deliver economic value directly back to the contributor, this is considered a reciprocal transaction and the grant revenue is recognised in the Statement of Financial Position as a liability until the service has been delivered to the contributor otherwise the grant is recognised as income on receipt. Service revenue Revenue arising from the rendering of a service is recognised upon the delivery of the service to the clients. Other revenue Other revenue (which includes campaign and event income and project income) is recognised when it is received or when the right to receive the payment is established. All revenue is stated net of the amount of goods and services tax (GST). 1.5 Income tax As Townsville Enterprise Limited is a charitable institution in terms of subsection 50-5 of the Income Tax Assessment Act 1997, as amended, it is exempt from paying income tax; no provision for income tax has been raised. 1.6 Current and non-current classifications Assets and liabilities are presented in the Statement of Financial Position based on current and non-current classification. Townsville Enterprise Financial Report 2018/19
An asset is classified as current when: it is either expected to be realised or intended to be sold or consumed in normal operating cycle; it is held primarily for the purpose of trading; it is expected to be realised within 12 months after the reporting period; or the asset is cash or cash equivalent unless restricted from being exchanged or used to settle a liability for at least 12 months after the reporting period. All other assets are classified as non-current. A liability is classified as current when: it is either expected to be settled in normal operating cycle; it is held primarily for the purpose of trading; it is due to be settled within 12 months after the reporting period; or there is no unconditional right to defer the settlement of the liability for at least 12 months after the reporting period. All other liabilities are classified as non-current. 1.7 Cash and cash equivalents Cash and cash equivalents includes cash on hand, deposits held at call with financial institutions and other short-term, highly liquid investments with original maturities of three months or less that are readily convertible to known amounts of cash and which are subject to an insignificant risk of changes in value. Deposits with maturity dates greater than three months are considered investments. On initial recognition investments are measured at fair value plus transaction costs and subsequently measured at amortised cost in accordance with AASB 9 Financial Instruments. 1.8 Trade and other receivables Trade and other receivables are measured at amortised cost, less any allowance for expected credit losses in accordance with AASB 9 Financial Instruments. Trade receivables are generally due for settlement within 30 days. 1.9 Property, plant and equipment Plant and equipment is stated at historical cost less accumulated depreciation. Historical cost includes expenditure that is directly attributable to the acquisition of the items. Depreciation is calculated on a straight-line or diminishing value basis to write off the net cost of each item of property, plant and equipment over their expected useful lives as follows: Leasehold improvements Plant and equipment Motor vehicles
10â&#x20AC;&#x201C;50% 5â&#x20AC;&#x201C;20% 20â&#x20AC;&#x201C;25%
49
The residual values, useful lives and depreciation methods are reviewed, and adjusted if appropriate, at each reporting date. Leasehold improvements and plant and equipment under lease are depreciated over the unexpired period of the lease or the estimated useful life of the assets, whichever is shorter. An item of property plant and equipment is derecognised upon disposal or when there is no future economic benefit to the Company. Gains and losses between the carrying amount and the disposal proceeds are taken to profit or loss. Any revaluation surplus reserve relating to the item disposed of is transferred directly to retained profits. 1.10 Intangible assets Intangible assets are initially recognised at cost. The gains or losses recognised in profit or loss arising from the de-recognition of intangible assets are measured as the difference between net disposal proceeds and the carrying amount of the intangible asset. The method and useful lives of finite life intangible assets are reviewed annually. Changes in the expected pattern of consumption of useful life are accounted for prospectively by changing the amortisation method or period. Software Significant costs associated with software are deferred and amortised on a straight-line basis over the period of their expected benefit, being their finite life of three to five years. 1.11 Trade and other payables These amounts represent liabilities for goods and services provided to the Company prior to the end of the financial year and which are unpaid. Due to their short-term nature they are measured at amortised cost and are not discounted. The amounts are unsecured and are usually paid within 30 days of recognition. 1.12 Employee benefits Short-term employee benefits Liabilities for wages and salaries, including non-monetary benefits and annual leave expected to be settled within 12 months of the reporting date or where no right to defer settlement exists, are recognised in current liabilities 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.
50
50
Other long-term employee benefits The liability for long service leave not expected to be settled within 12 months of the reporting date is recognised in noncurrent liabilities, provided there is an unconditional right to defer settlement of the liability. The liability is 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 recognised at the expected cash outflow when the liability is settled. Long-term benefits are accounted for employees who have achieved more than seven years of service with the company. 1.13 Goods and Services Tax (GST) and other similar taxes Revenues, expenses and assets are recognised net of the amount of associated GST, unless the GST incurred is not recoverable from the Australian Taxation Office (ATO). In this case it is recognised as part of the cost of the acquisition of the asset or as part of the expense. Receivables and payables are stated inclusive of the amount of GST receivable or payable. The net amount of GST recoverable from, or payable to, the ATO is included in other receivables or other payables in the Statement of Financial Position. Cash flows are presented on a gross basis. The GST components of cash flows arising from investing or financing activities which are recoverable from or payable to the ATO are presented as operating cash flows. 1.14 Leases Leases of fixed assets, where substantially all the risks and benefits incidental to the ownership of the asset (but not the legal ownership) are transferred to the entity, are classified as finance leases. Leased assets are depreciated on a straight-line basis over the estimated useful lives where it is likely that the entity will obtain ownership of the asset. Lease payments are allocated between the reduction of the lease liability and the lease interest expense for the period. Lease payments for operating leases, where substantially all the risks and benefits remain with the lessor, are recognised as expenses on a straight-line basis over the lease terms.
Townsville Enterprise Financial Report 2018/19
NOTE 2. REVENUE
NOTE 3. OTHER EXPENSES
Revenue 2019
2018
$
$
Campaign & Event Income
114,154
747,085
Partnership Income
960,564
950,750
Membership Income
880,009
809,576
Contra Membership
420,452
446,719
Government Grants
1,355,816
2,136,400
Sponsorship Income
180,032
48,341
3,911,027
5,138,871
2019
2018
$
$
17,429
500
Consultants and contractors
655,062
1,446,524
Facility expenses
194,279
204,762
Web development and maintenance expenses
30,591
25,160
Design, printing and reproduction
48,270
51,228
Trade and exhibition
172,720
187,210
Sponsorship and membership expenses
108,865
136,983
8,426
8,559
777,973
786,764
Employee related expenses
19,097
15,606
Entertainment expenses
43,051
27,368
Information technology expenses
55,603
59,388
Other expenses
12,501
6,925
2,143,867
2,956,977
Audit and accounting expenses
Vehicle expenses
Other income
Advertising expenses
2019
2018
$
$
Interest
14,634
23,076
Rent
13,119
19,606
1,651
4,282
153,388
7,000
â&#x20AC;&#x201C;
914
182,792
54,878
NOTE 4. CASH AND CASH EQUIVALENTS
4,093,819
5,193,749
Cash and cash equivalents consist of the following:
Marketing packages Project income Other Income
Townsville Enterprise Financial Report 2018/19
2019
2018
$
$
Cash at bank and on hand
824,468
1,068,398
Cash and cash equivalents
824,468
1,068,398
51
NOTE 5. TRADE AND OTHER RECEIVABLES
NOTE 7. INTANGIBLES
2019
2018
$
$
Trade receivables
1,082,108
706,029
Accrued revenue 1
5,425
669,139
195,500
8,380
1,283,033
1,383,548
Sundry debtors
approximation of fair value.
NOTE 6. PROPERTY, PLANT AND EQUIPMENT Leasehold Improvements Assets at cost
Borrowing costs Balance 30 June 2018
Software
Total
$
$
$
93,986
184,094
278,080
(93,986)
(110,773)
(204,759)
–
73,321
73,321
Assets at cost Balance 1 July 2017 Accumulated amortisation
Assets at cost
Accrued revenue 2018 reflects income for Hells Gates project funding.
Accumulated depreciation
Billabong VIC
Balance 30 June 2018
The net carrying value of trade receivables is considered a reasonable 1
Details of Townsville Enterprise’s intangible assets and their carrying amount are as follows:
Motor Plant and Vehicles Equipment
Total
$
$
$
$
245,486
71,378
338,846
655,710
(199,963)
(53,224)
(260,583)
(513,770)
–
(1,869)
–
(1,869)
45,523
16,285
78,263
140,071
Balance 1 July 2018
–
111,477
111,477
Accumulated amortisation
–
(59,123)
(59,123)
Balance 30 June 2019
–
52,354
52,354
Reconciliation of the written down value at the beginning and end of the current financial year is set out below: Billabong VIC Balance 1 July 2018 Cost of assets disposed Accumulated amortisation written back
Assets at cost
245,486
Accumulated depreciation Balance 30 June 2019
69,508
248,691
52
$ 73,321
(93,986)
(72,618)
166,604
93,986
72,618
(166,604)
–
(20,967)
(20,967)
–
52,354
52,354
(184,023)
(466,317)
30,335
2,364
64,670
97,369
Total
$
$
$
$
45,523
16,285
78,263
140,071
Additions
–
–
18,372
18,372
Cost of assets disposed
–
–
(108,528)
(108,528)
Accumulated depreciation written back
–
–
108,528
108,528
Depreciation
15,188
(13,921)
(31,965)
61,074
Balance 30 June 2019
30,335
2,364
64,670
97,369
52
$ 73,321
Amortisation expense
Reconciliation of the written down value at the beginning and end of the current financial year is set out below:
Balance 1 July 2018
$ –
Balance 30 June 2019
(67,143)
Motor Plant and Vehicles Equipment
Total
563,686
(215,151)
Leasehold Improvements
Software
NOTE 8. TRADE AND OTHER PAYABLES Trade and other payables recognised consist of the following amounts:
Trade payables Other creditors and accruals Total trade and other payables
2019
2018
$
$
331,134
136,963
14,656
17,505
345,790
154,468
Townsville Enterprise Financial Report 2018/19
NOTE 9. EMPLOYEE BENEFITS
11.2 Transactions with key management personnel
The liabilities recognised for employee benefits consist of the following amounts: 2019
2018
$
$
56,965
96,246
Current Annual leave Non-current Long service leave
47,878
47,302
104,843
143,548
NOTE 10. OTHER LIABILITIES Other liabilities consist of the following amounts: 2019
Accrued expenses1 Revenue received in advance
2018
$
$
–
575,203
795,519
666,688
795,519
1,241,891
Key management personnel compensation
2019
2018
$
$
718,155
697,356
Any person(s) having authority and responsibility for planning, directing and controlling the activities of the entity, directly or indirectly, including any director of that entity is considered key management personnel. The Board of Directors of Townsville Enterprise Limited are designated key management personnel in accordance with definition provided. No director receives remuneration for their role on the Board. Other management personnel for 2018/19 include Patricia O’Callaghan (Chief Executive Officer), Michael McMillan (Director Policy and Investment), Bridget Woods (Director Tourism and Events), Kirsty Kahler (Director Membership Marketing and Business Development).
NOTE 12. CONTINGENT LIABILITIES There are no contingent liabilities incurred by Townsville Enterprise Limited at 30 June 2019 and 30 June 2018.
NOTE 13. LEASES 1
Accrued expense at 30 June 2018 reflects costs for final milestone Hells Gates project.
Operating leases as lessee Townsville Enterprise Limited operating lease payments are as follows:
NOTE 11. RELATED PARTY TRANSACTIONS Townsville Enterprise Limited’s related parties include its key management personnel and related entities as described below. 11.1 Transactions with related entities There were no transactions with related parties during the current and previous financial year outside of the normal course of business.
Within 1 year
1 to 5 years
Total
$
$
$
30 June 2019
4,526
18,106
22,632
30 June 2018
112,104
28,416
140,520
Operating lease commitments comprise of lease arrangements on Enterprise House and storage facilities.
NOTE 14. POST-REPORTING DATE EVENTS No adjusting or significant non-adjusting events have occurred between the reporting date and the date of authorisation.
NOTE 15. ECONOMIC DEPENDENCE Townsville Enterprise Limited is dependent upon the ongoing receipt of Local and State Government grants to ensure the ongoing continuance of its programs. At the date of this report, management has no reason to believe that this financial support will not continue. Townsville Enterprise Financial Report 2018/19
53
DIRECTORS’ DECLARATION In the opinion of the Directors of Townsville Enterprise Limited: a) T he financial statements and notes of Townsville Enterprise Limited are in accordance with the Corporations Act 2001, including:
i Giving a true and fair view of its financial position as at 30 June 2019 and of its performance for the financial year ended on that date; and ii Complying with Australian Accounting Standards Reduced Disclosure Requirements (including the Australian Accounting Interpretations) and the Corporations Regulations 2001; and
b) T here are reasonable grounds to believe that Townsville Enterprise Limited will be able to pay its debts as and when they become due and payable. Signed in accordance with a resolution of the Directors
INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF TOWNSVILLE ENTERPRISE LIMITED Opinion We have audited the financial report of Townsville Enterprise Limited (the Company), which comprises the statement of financial position as at 30 June 2019, the statement of profit or loss and other comprehensive income, statement of changes in equity and statement of cash flows for the year then ended, and notes to the financial statements, including a summary of significant accounting policies, and the director’s declaration. In our opinion, the accompanying financial report of the Company has been prepared in accordance with the Corporations Act 2001, including: a) g iving a true and fair view of the Company’s financial position as at 30 June 2019 and of its financial performance and cash flows for the year then ended; and b) c omplying with Australian Accounting Standards – Reduced Disclosure Requirements and the Corporations Regulations 2001.
Basis for Opinion
Kevin Gill Director Townsville 12 September 2019
We conducted our audit in accordance with Australian Auditing Standards. Our responsibilities under those standards are further described in the Auditor’s Responsibilities for the Audit of the Financial Report section of our report. We are independent of the Company in accordance with the ethical requirements of the Accounting Professional and Ethical Standards Board’s APES 110 Code of Ethics for Professional Accountants (the Code) that are relevant to our audit of the financial report in Australia. We have also fulfilled our other ethical responsibilities in accordance with the Code. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Responsibilities of the Directors for the Financial Report The directors of the Company are responsible for the preparation and fair presentation of the financial report in accordance with Australian Accounting Standards – Reduced Disclosure Requirements and the Corporations Act 2001 and for such internal control as the directors determine is necessary to enable the preparation of the financial report that is free from material misstatement, whether due to fraud or error. 54
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Townsville Enterprise Financial Report 2018/19
In preparing the financial report, the directors are responsible for assessing the Company’s ability to continue as a going concern, disclosing, as applicable, matters relating to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the Company or to cease operations, or have no realistic alternative but to do so.
Auditor’s Responsibilities for the Audit of the Financial Report Our objectives are to obtain reasonable assurance about whether the financial report as a whole is free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with the Australian Auditing Standards will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of this financial report. As part of an audit in accordance with the Australian Auditing Standards, we exercise professional judgement and maintain professional scepticism throughout the audit. We also:
C onclude on the appropriateness of those charged with governance’s use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the entity’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial report or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of the auditor’s report. However, future events or conditions may cause the entity to cease to continue as a going concern. E valuate the overall presentation, structure and content of the financial report, including the disclosures, and whether the financial report represents the underlying transactions and events in a manner that achieves fair presentation. We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during the audit. Crowe NQ
I dentify and assess the risks of material misstatement of the financial report, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
Mark Andrejic Partner Townsville 12 September 2019
O btain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity’s internal control. E valuate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by those charged with governance.
Townsville Enterprise Financial Report 2018/19
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TOWNSVILLE ENTERPRISE
ABN: 58 053 020 536
380 Flinders Street, Townsville Queensland, 4810 Australia Phone: Email:
+61 7 4726 2728 tel@tel.com.au
townsvilleenterprise.com.au