Townsville Enterprise 2020-2021 Annual Report by Townsville Enterprise

2020 / 2021

W H AT ’ S I N S I D E Our Year in Summary................................................................................................................................ 3 Townsville Enterprise in Summary...........................................................................................................3 2020/21 Board of Directors....................................................................................................................... 6 2020/21 Committees................................................................................................................................. 7 A Message from our Chair & CEO.............................................................................................................9 Advocacy..................................................................................................................................................10 Hells Gates Dam & Big Rocks Weir.........................................................................................................15 Destination Marketing............................................................................................................................17 Visitor Information Centres....................................................................................................................21 Convention Bureau.................................................................................................................................21 Tourism Industry Development.............................................................................................................23 Townsville Enterprise Events..................................................................................................................25 Membership............................................................................................................................................28 Financial Statements..............................................................................................................................30

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Townsville Enterprise Annual Report 2020 / 21

OUR YEAR IN SUMMARY Marketing campaigns attracted 12,000 new visitors, contributing approximately

$7.8 million in visitor spend.

Secured over

$1 billion

in infrastructure and government commitments off the back of advocacy campaigns.

Launched the Museum of Underwater Art with a campaign that reached

184 million people globally

Supported by

352

The stadium that Townsville Enterprise advocated for more than seven years, saw its first full year of operation, securing:

members

MAJOR EVENTS

24 TEL EVENTS

hosted with more than

1,700

417,000+ PATRONS

attendees

TOWNSVILLE ENTERPRISE IN SUMMARY For 30 years Townsville Enterprise has played a critical role in supporting the progress of the Townsville North Queensland region. As the peak economic development and destination management organisation, Townsville Enterprise has been the lead driver in attracting major investment and growing the visitor economy, contributing to growth in local jobs and economic benefit for the entire region. Townsville Enterprise was established to, and continues to look to the future for the Townsville North Queensland region. Many of the major achievements throughout the region’s history such as the securing of Sun Metals, the opening of the Galilee Basin, the construction of the Queensland Country Bank Stadium, and the attraction of major events like the Townsville Supercars, are a result of Townsville Enterprise led advocacy and have seen ongoing and long-term benefits to our region. These are assets that continue to contribute to the region’s economic portfolio.

Townsville Enterprise represents the Local Government areas of Townsville, Magnetic Island, Palm Island, the Burdekin Shire, the Hinchinbrook Shire and the Charters Towers. Whilst Townsville may be leading the charge, it cannot operate alone. It is only with the support of its partners and members that it can continue to drive this growth.

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. Townsville North Queensland

Palm Island

TOWNSVILLE

BURDEKIN

CHARTERS TOWERS

HINCHINBROOK

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 AT TOWNSVILLEENTERPRISE.COM.AU

Townsville Enterprise Annual Report 2020 / 21

2020/21 BOARD OF DIRECTORS

CHAIR

Kevin Gill

DEPUTY CHAIR

DIRECTOR

Cr Jenny Hill

Joe Carey

Mayor Townsville City Council

Director Carey Accountants Pty Ltd

DIRECTOR

Kathy Danaher

Chief Executive Officer Port of Townsville Limited

Vice Chairwoman/ Director/Company Secretary/Public Officer Ark Energy Corporation

Ranee Crosby

DIRECTOR

Chief Executive Officer The Ville Resort–Casino

Townsville Enterprise Annual Report 2020 / 21

(Appointed 19/02/2020)

Peter Honeycombe Managing Director Honeycombes Property Group

Vice-Chancellor & President James Cook University

Michael Jones

Managing Director FGH Group

DIRECTOR

Professor Sandra Harding AO

DIRECTOR

Jamie Fitzpatrick

(Resigned 9/03/2021)

DIRECTOR

Moya Steele Director/Principal Keir Steele Waldon Lawyers Pty Ltd

DIRECTOR

Peter Wheeler Managing Director Colliers Townsville

2020/21 COMMIT TEES FINANCE AUDIT & RISK Kathy Danaher (Chair) Ark Energy Corporation Shawn Anderson Queensland Country Bank Peter Duffy wilson/ryan/grose lawyers Luke Guazzo North Australia Primary Health Ltd Observers: Patricia O’Callaghan Townsville Enterprise Limited (resigned 23/12/2020) Claudia Brumme-Smith Townsville Enterprise Limited

ECONOMIC DEVELOPMENT STRATEGIC ADVISORY

TOURISM AND EVENTS STRATEGIC ADVISORY

Ranee Crosby (Chair) Port of Townsville Limited

Michael Jones (Chair) The Ville Resort-Casino

Mark Bogiatzis Great Northern Laundry

Chris Briggs SeaLink Travel Group

Jaqueline Bohn / David Lynch Townsville City Council

Cr Mary Brown Hinchinbrook Shire Council

Amanda Byrne Queensland Airports Ltd

Stuart Cunningham Core Developments NQ

Angus Campbell Riverside Marine

Kathy Danaher Ark Energy Corporation (resigned 12/02/2021)

Mark Evans Paronella Park

Colin Lea Carey Accountants Pty Ltd Paul Taylor Glencore Carl Valentine PVW Partners Isabelle Yates / Brendan Cook Townsville Airport Limited Patricia O’Callaghan Townsville Enterprise Limited (resigned 23/12/2020) Claudia Brumme-Smith Townsville Enterprise Limited Wayde Chiesa Regional Development Australia Observers: Paul Holden Department of State Development, Manufacturing, Infrastructure and Planning Ross McLennan Townsville Chamber of Commerce Laura Vidmar NQROC

Stacey Gibson Townsville City Council Jacqui James-Eggins North Queensland Toyota Cowboys Norman Jenkin Tourism Magnetic Island Associate Professor Laurie Murphy James Cook University Madonna Simmons Get Branded Patricia O’Callaghan Townsville Enterprise Limited (resigned 23/12/2020) Claudia Brumme-Smith Townsville Enterprise Limited Lisa Woolfe Townsville Enterprise Limited Observers: Kevin Gill Townsville Enterprise Limited Chair Jamie Fitzpatrick FGH Group Ross McLennan Townsville Chamber of Commerce Laura Vidmar NQROC

Claudia Brumme-Smith Chief Executive Officer

Townsville Enterprise Annual Report 2020 / 21

Kevin Gill Chairman

A MESSAGE FROM OUR CHAIR & CEO Over the past 12 months, COVID-19 has continued to impact economies across the globe exponentially. Whilst Townsville North Queensland’s local economy has not been immune to the impacts, the region has weathered the storm well with many sectors recording strong growth and a positive outlook. Our local tourism, hospitality and events sector has however worn the brunt of COVID-19, which is why we took strong positions in our advocacy and tactical marketing to support our members hurting most. Our continuous engagement and discussions with government led to successfully securing further industry support and flight incentives for the region.

opportunities for our members to engage and network within key industries but played a critical role in setting our advocacy agenda.

During this time, we also told the story of the pockets of the economy doing well and what the opportunities can be for our region, our state, and our nation when our strengths are leveraged. Our consistent message has been to ‘Unlock the North’ where through targeted support we have the capacity to deliver the jobs, sovereignty, and economic prosperity critical to our nation and state’s recovery and future resilience.

Our dedicated group of 60 volunteers welcomed 7,444 visitors through both the Townsville City and Elliot Springs Visitor Information Centres. Over $135,000 in bookings was generated for our local tourism businesses through campaigns and the Visitor Information Centres.

Our Convention Bureau was focussed on supporting the accommodation and venue providers and conference organisers in 20/21 to ensure visiting events didn’t cancel but postpone due to COVID-19 which proved successful as 80% of events did postpone.

When we met with Prime Minister Scott Morrison in Canberra in February, we were encouraged by his firm focus on securing Australia’s supply chains, particularly critical minerals and agriculture, which the PM acknowledged plays to our region’s strengths.

In July 2021 we delivered the 50% reference design for the $24M Big Rocks Weir and Hells Gates Business Case which is on time and on budget to be completed by April 2022. With promising initial economic analysis results and investor demand for large scale agricultural opportunities with a high level of water security, this project continues to position itself as a game-changer for North Queensland.

Off the back of Canberra and Brisbane Delegations, a road trip highlighting the opportunities and challenges in the North West, and a comprehensive State Election advocacy campaign, our region secured significant State and Federal Government funding commitments towards key infrastructure projects.

Despite a difficult year, Townsville Enterprise has returned a surplus as a result of sound financial management and a diversification of revenue streams which has proven important at a time when membership was challenged and providing services to the business community was critical.

The State Government committed $30M to Big Rocks Weir, support to sustain Mount Isa Mines’ operations, an implementation agreement with Copperstring 2.0, $10 million to complete DriveIt NQ, $4 million for the Townsville Sailing Club, $1 million for Phase 3 of the Museum of Underwater Art, and the Paluma to Wallaman Falls Trail Business Case commenced. The Federal Government provided the full $80M in funding for the upgrade of Reef HQ, $1.5 million for Magnetic Island walking trails, and $15M towards Townsville’s Royal Flying Doctors Service. $140M is also allocated for City Deal funding.

We acknowledge our Principal Partner Townsville City Council for its support over the past 12 months and the united approach of the North Queensland Regional Organisation of Councils and our media partners in delivering the region’s advocacy program. We also thank our volunteer Board and our small team for their tireless efforts throughout the course of a very challenging year.

During this period we were thrilled to assist with the launch of the first stage of the Museum of Underwater Art. There have been few tourism experiences of this scale launched during the pandemic and we look forward to this project helping to rebuild the international market when borders reopen. Despite those ongoing border closures, snap lockdowns, and waves in travel sentiment throughout the 20/21 Financial Year, our destination marketing campaigns alone delivered over 12,000 visitors to the region and $7.8M in visitor spend. Due to low COVID-19 cases over the year, our recently opened Queensland Country Bank Stadium became the saviour of the events industry, with Townsville putting its hand up to host a historic State of Origin in less than nine days. The game injected $7M into the economy with our own PR activities creating $9 million in media value for Townsville Enterprise. The organisation hosted 24 corporate events attracting 1,751 attendees throughout the year, which provided not only

Whilst there are green shoots on the horizon we are not ignorant to the fact that it has been 12 months of hardship and uncertainty and that many of our members are still impacted. This is why our advocacy, marketing, media, events, and delegations are so important to not only grow our region but also put our members in the best position possible for a strong future. Over the past year our message to Unlock the North has been a concept that was about seeing opportunity through adversity and promoting the important role Townsville North Queensland can play in not just the economic recovery of Queensland but also as the engine room for the economic recovery for Australia. We acknowledge our valued members and partners for supporting Townsville Enterprise in our objective to attract major investment, create jobs, improve liveability, and increase visitation, which ultimately delivers economic prosperity and opportunity to the region.

Kevin Gill

Claudia Brumme-Smith

ADVOCACY Advocacy was at the forefront of activities for Townsville Enterprise throughout the 2020/21 Financial Year. COVID recovery, as well as a state election, and a looming federal election saw Townsville Enterprise undertake a series of political engagements, host several delegations, and deliver a fully integrated and cross platform advocacy campaign under the banner Unlock the North. This provided a strong and united voice to both levels of Government on the priority projects and key policy reform that would support growth and prosperity in North Queensland.

SECURING OUTCOMES The advocacy agenda undertaken by Townsville Enterprise with support from our five local councils and members, saw the region secure almost a billion dollars’ worth of commitments across both State and Federal Government. Progress was made on key enabling projects including Big Rocks Weir, CopperString 2.0, DriveIt NQ, the Museum of Underwater Art, Reef HQ redevelopment, upgrades to Townsville Hospital and Kirwan Health Campus, supporting the ongoing operations of Mount Isa Mines, and a raft of COVID-19 business and industry support measures.

2020/21 HIGHLIGHTS

NORTH WEST ROAD TRIP

BRISBANE DELEGATION

CANBERRA DELEGATION

In June 2020, Townsville Enterprise embarked on a 1,000-kilometre road trip from Townsville to Mount Isa highlighting to our extensive national stakeholder base the importance of the North West to the future of Queensland. Across the week we promoted the depth of our region’s mining, resources, and agricultural industries and the opportunities and challenges that confront these sectors. We toured seven operations, met with six Councils, and several business leaders to gain a deeper understanding on the infrastructure and policy commitments that are required to not just support existing operations, but also catalyse further investment and jobs.

In August 2020, Townsville Enterprise undertook a comprehensive meeting and event program over three days at Brisbane’s Parliament House, with partners TaskforceNQ and NQROC, to promote the region’s State Election priorities. The Unlock the North delegation included 19 meetings and four events with the Premier, Opposition Leader, Cabinet Ministers, Shadow Cabinet Ministers, and Minor Party MPs. The delegation laid a clear platform prior to the 2020 State Election which resulted in a number of significant commitments to the region from all sides of politics during the campaign period.

February 2021 saw Townsville Enterprise and NQROC Mayors travel to the nation’s capital to meet with Prime Minister Scott Morrison, Opposition Leader Anthony Albanese, Ministers, Shadow Ministers and Senators at Parliament House, Canberra. Across 22 meetings over three days, the delegation directly engaged with national leaders to promote the region’s Federal Budget Submission which encouraged the Commonwealth to unlock the north through policy reform and investment towards key industries that can support the nation’s COVID-19 economic recovery.

Image: Townsville Enterprise

Townsville Enterprise Annual Report 2020 / 21

SUBMISSIONS

CASE STUDY:

As well as submitting State and Federal Budget documents to Governments, Townsville Enterprise also provided recommendations to relevant Government committees across the year into a range of inquiries. Some included supporting the mining and resources export industry, Reinsurance Pool for Cyclones and Related Flood Damage, and COVID-19 recovery support for the tourism industry. Tourism Reference Panel In response to COVID-19 recovery and tasked to review and re-shape the future of Queensland’s visitor economy, the State Government formed a Tourism Reference Group in March 2021. In response to a discussion paper produced by the appointed panel, Townsville Enterprise made a submission to the Tourism Reference Group on behalf of the Townsville North Queensland region. The submission spoke to the need for further support towards tourism product and experience development, funding for aviation attraction and retention, the importance of regional visitor dispersal, and placing a greater emphasis on marketing for emerging destinations and continued investment into major events. Our submission also recommended a greater emphasis on destination built events, the need to address insurance challenges and also the immediate and long term impacts of workforce shortages in the tourism sector. Joint Standing Committee on Trade and Investment Growth Following our submission to the Inquiry into the Prudential Regulation of Investment in Australia’s Export Industries, Townsville Enterprise appeared before the Joint Standing Committee to provide further evidence to support our position. During the appearance, we highlighted the critical role of the mining and resources export industry on the national economy, particularly across the COVID-19 pandemic, and called out the unsubstantiated positions taken against those working within this sector. We welcomed this opportunity to speak on behalf of regional Queensland and provide a voice to all those working in the mining and resources industry. Reinsurance Pool for Cyclones and Related Flood Damage In this submission, Townsville Enterprise addressed some key considerations in the design and operation of the Federal Government’s $10 billion Reinsurance Pool, with a key focus on ensuring the scheme will apply downward pressure on insurance prices in Northern Australia. We highlighted that the high cost of insurance and the ability to access insurance is seen as prohibitive for those looking to invest and live in the North Queensland region. Without insurance, investors are unable to access credit through financial institutions, which stifles the ability of the region to grow and prosper. We welcomed the opportunity to make this submission to assist to inform the Taskforce’s understanding of the importance of the Reinsurance Pool to support communities across the North.

UNLOCK THE NORTH CAMPAIGN Following the Brisbane Parliament House delegation, activities across the Unlock the North State Election campaign continued to ramp up including weekly wrap ups of announcements towards key priorities, regular political candidate engagement and advocacy, strategic events, rolling media commentary, and a social media video series highlighting the challenges and opportunities across each of our Council areas. At the conclusion of the campaign, the returned Queensland Labor Government had “Fully Committed” to supporting eight priorities in the Unlock the North document and expressed “Partial Commitment” towards ten other key outlined projects and policies. The representations didn’t stop there however, where our advocacy continued to ensure those commitments turned from promises to cash progress in the State Budget. Positively, in the 2021 State Budget we secured funding commitments to six out of those 10 remaining 2020 election promises in our Unlock the North.

I want to thank Townsville Enterprise for the cooperative way they work with the government to identify projects that the government should be funding to support jobs. - H ON CAMERON DICK MP, TREASURER AND MINISTER FOR TRADE AND INVESTMENT 11

Despite the challenges of COVID-19, Townsville Enterprise Limited with the assistance of expert consultants SMEC and KPMG, has continued to coordinate, lead and successfully deliver project objectives that will inform the Hells Gates Dam Business Case. This includes the completion of Geotechnical drilling, environmental investigations and cultural heritage assessments which are currently being analysed to develop the final Business Case due in April 2022. - GRAEME POLLOCK, SMEC

Townsville Enterprise Annual Report 2020 / 21

H E L L S G AT E S DA M & BIG ROCKS WEIR Following the successful agreement of funding in 2020 to progress construction of the Big Rocks Weir, Townsville Enterprise continued work on the Hells Gates Dam Irrigation Scheme portion of the $24M Big Rocks Weir and Hells Gates Dam Business Case during FY 2021. The Business Case is being funded by the Federal Government through the North Queensland Water Infrastructure Authority and is managed by the State Government though the Department of Regional Development, Manufacturing and Water. The Hells Gates Dam Milestone 7 Report was delivered on schedule in mid 2020, with the report including the engineering and final design reports for the 3 weirs, the dam, irrigation infrastructure, electrical and power and road infrastructure. Work is progressing on Milestone 8 (100% Reference Design) and Milestone 9 (Final Draft Business Case and Final Draft Environmental & Social Impact Assessment report) due for completion on 31 January 2022. The Cultural Heritage Scoping Study Report has been endorsed by both Gugu Badhun Aboriginal Corporation and Gudjala Aboriginal Corporation for incorporation into the Business Case. The Environmental and Social Impact Assessment (ESIA), including all the technical studies and over 20 technical chapters is more than 70% complete and progressing well for on time delivery of Milestone 8.

The second round of stakeholder engagement commenced in September, with phone meetings with potential investors, farmers and indigenous groups. Meetings are being handled by the KPMG team. Consultation includes testing of water prices with the investor community, specifically Agri-fund managers and rural property developers, to inform demand analysis chapter of the financial analysis. Investor demand for large scale agricultural opportunities with a high level of water security continues to be a key driver for the project. Initial results for the economic analysis are very promising and Townsville Enterprise is gearing up to advocate for a water allocation for the Hells Gates Dam project on this basis. Townsville Enterprise is now focusing it’s efforts on advocating the many social benefits and job opportunities for construction of the dam, ongoing agricultural production and associated industries will deliver to the region

KEEP UP TO DATE Keep up to date with the Big Rocks Weir and Hells Gates Dam Project by signing up to the free Townsville Enterprise fortnightly newsletter, follow Townsville Enterprise on social media, and take the opportunity to be involved in the organisation’s corporate events.

A big congratulations and thank you to Townsville Enterprise for a fantastic ‘Find Your Shine’ campaign. In conjunction with Townsville Enterprise, a package was created and marketed and WOW – what a fantastic response. It far exceeded our expectations. We booked 44 packages which is 88 bed nights and 44 car rentals during what can be a quieter time of year. All our guests loved Magnetic Island, with many saying they will be back and would be telling their friends to visit. The whole process was made super easy. Everyone involved did a great job, the teams at the Visitor Information Centres were lovely to deal with and Bookeasy was a very straightforward booking platform. Thank you to everyone involved, and again congratulations on a successful campaign. - JENNIFER, TROPICAL PALMS RESORT AND 4WD HIRE

Image: Tourism and Events Queensland

Townsville Enterprise Annual Report 2020 / 21

D E S T I N AT I O N M A R K E T I N G As Townsville North Queensland started to transition out of COVID-19 lockdowns and restrictions, Townsville Enterprise undertook a program of marketing initiatives and PR activities to grow destination awareness and drive visitation. Despite ongoing border closures, snap lockdowns, and waves in travel sentiment throughout the 20/21 Financial Year, Townsville Enterprise’s highly digital and tactical approach to destination marketing saw significant outcomes delivering more than 12,000 visitors to our region and injecting an anticipated $7.8 million in visitor spend.

2020/21 HIGHLIGHTS Marketing Achievements Tourism Marketing campaigns drove 12,000 visitors to our region and injected an anticipated $7.8 million in visitor spend into the economy. Campaign activity reached more than 8 million people, with assets viewed more than 21.5 million times. Website visitation (townsvillenorthqueensland.com. au) grew by 100%, with almost 250,000 visitors. Secured more than 450 destination stories throughout state, national and international media publications.

Find Your Shine

The Amazing Race (3 episodes total)

The Find Your Shine campaign launchedin November 2020 and was the first time Townsville Enterprise was able to offer instantly bookable holiday packages through townsvillenorthqueensland.com.au. The campaign was run in two key bursts November – December 2020 and again in February to April 2021. To support the campaign launch, Townsville Enterprise reinvigorated the destination website with a full overhaul, a fully integrated booking platform and interactive holiday planning functionality. The two bursts of activity generated over $120,000 in bookings, reached more than 2 million people and campaign assets were seen 8.1 million times. The deals/holiday packages page on the website attracted almost 80,000 clicks.

Australian Traveller TODAY Show Weather Crosses The Guardian The Australian Courier Mail Holiday with Kids The Morning Show Daily Telegraph Escape.com Queensland Weekend And many more…

Airline Campaigns

Museum of Underwater Art Launch In August 2020, Townsville Enterprise led a fully integrated campaign to officially launch the Museum of Underwater Art (MOUA) at John Brewer Reef. The campaign achieved significant results, with media coverage reaching an anticipated 184 million people and generating over $3.2 million in media value. As well as a strong media focus, the campaign was also implemented with a conversion target. $95,000 worth of bookings to MOUA were generated as a direct result of the campaign, providing a strong start for the region’s newest major tourist attraction.

SCAN THE QR CODE TO SEE VIDEO

Townsville Enterprise worked with Townsville Airport and aviation partners such as Virgin Australia, Webjet and Jetstar to deliver a series of conversion focused campaigns throughout the year. Across all campaigns, more than 8,000pax bookings were achieved. Always on PR Strategy The constantly changing travel environment made hosting media famils challenging throughout the 2020/21 year. Despite this Townsville Enterprise was able to leverage existing media relationships and work with Tourism and Events Queensland to secure more than 450 state, national and global destination stories. This included features within:

Drive North Queensland Townsville Enterprise, as part of a collaboration between Regional Tourism Organisations across North Queensland, delivered a Drive North Queensland campaign aimed at engagement and awareness. Drivenorthqueensland.com. au was created as a dedicated landing website for the campaign which saw more than 1.2 million people reached and assets viewed over 7 million times.

Australian Geographic Urbanlist DivePlanIt

Townsville Enterprise provided crucial support in pulling together our Townsville area based episodes of The Amazing Race, Australia. Their knowledge, connections and expertise of the Townsville and greater North Queensland area were invaluable for the success of the production. We would not have been able to make the show such a success without them. I always knew Townsville Enterprise had the answers to my questions and were able to quickly problem solve and embrace the organised chaos of reality television production. -S COTT BROWNING - THE AMAZING RACE AUSTRALIA, EPISODE PRODUCER

Image: The Amazing Race Australia

Townsville Enterprise Annual Report 2020 / 21

D E S T I N AT I O N M A R K E T I N G

CASE STUDY THE AMAZING RACE Townsville Enterprise pitched concepts to the producers of The Amazing Race and was fortunate enough to secure three separate episodes for the region in Townsville, Magnetic Island, Hinchinbrook, and Palm Island. Given the border situation at the time of filming, producers were unable to get to Townsville prior to filming commencing and Townsville Enterprise was appointed to provide coordination and logistical support. The production saw approximately 100 crew arrive in Townsville. The production hired local crew and heavily supported local accommodation providers, caterers, tourism operators, construction companies and local retail during their visit. The coverage for the region was nothing short of spectacular and with an anticipated reach of 500,000 people per episode (1.5 million total) it was an ideal opportunity to showcase the region and put Townsville North Queensland front and centre as a holiday destination.

GET INVOLVED Regional tourism and events businesses can receive significant marketing opportunities by partnering with Townsville Enterprise, including:

Promote and sell your product on the destination website townsvillenorthqueensland.com.au

Feature your experiences in key printed publications such as the ‘Townsville North Queensland Visitor Guide’

Promote your tourism business in Townsville Enterprise marketing campaigns

Feature your products/experiences in media and digital influencer famils

Provide marketing support and guidance from industry experts

Included as features in PR pitches and media opportunities

The Visitor Information Centre volunteers and staff hold invaluable knowledge of our local area, tours, activities and events. They should be the first stop all visitors make when discovering Townsville and the region. They have been a source of knowledge for Raven Tours as we have often given the Visitor Information Centre volunteers famils as their feedback is very important in developing, refining and presenting tours for the region’s guests. - ROD JONES, RAVEN TOURS

Image: Megan Rickards

Townsville Enterprise Annual Report 2020 / 21

V I S I T O R I N F O R M AT I O N C E N T R E S This year Townsville Enterprise undertook significant changes within our Visitor Information Centre, responding to COVID requirements and also adapting the service to enable bookable experiences and accommodation. Our dedicated and passionate group of 60 volunteers remained at the forefront of our Visitor Information Centres and continue to be the welcoming faces of the region. This year casual tourism staff were appointed to manage bookings and support with marketing campaign activity. 2020/21 HIGHLIGHTS Welcomed 7,444 visitors through both the Townsville City and Elliot Springs Visitor Information Centres. Generated over $135,000 in bookings for local industry through campaigns and Visitor Information Centre.

GET INVOLVED Volunteers participated in a number of famils and training with operators including City Oasis, Mercure, Queensland Rail, Sunbus, and 13Cabs. The Volunteer Welcome Crew were on hand to greet our first flights back into Townsville from Sydney and Melbourne in late 2020 as well as the thousands of State of Origin Fans in June this year handing out “Welcome to Paradise” visitor information guides.

Members and local operators who would like to increase their bookings and exposure are encouraged to contact our Tourism Executive to find out how the Visitor Information Centre can assist in their goals.

CONVENTION BUREAU The Townsville Enterprise Convention Bureau was focussed on supporting the accommodation, venue providers and conference organisers in 2020/21 to ensure that events didn’t cancel but postponed due to COVID-19. As a result of ongoing engagement, 80% of planned events impacted by COVID restrictions were successfully postponed. The 2021 Townsville North Queensland Meetings, Incentives, Conference and Exhibitions Guide as well as the Townsville Convention Bureau website was updated to reflect the COVID-19

environment and enquiries around virtual capabilities and COVID-safe venue capacities. Three Townsville Enterprise Bid Fund Events took place during the 2020/21

Financial Year – Shimano Grand Prix, Fox Superflow Series and U12 State Basketball Championships with an estimated Economic Impact of $1.4 million.

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.

Image: Sean Scott

The caliber of the guest speakers, panellists, organisation, presenter, sponsors, venue, catering and support of the Tourism Futures Forum was by far the most professional and informative that I have ever attended. - JOHN HENDERSON, WHITSUNDAY PARADISE EXPLORER

Townsville Enterprise Annual Report 2020 / 21

TOURISM INDUSTRY DEVELOPMENT The 2020/21 Financial Year saw tourism businesses continue to face the challenges of COVID-19, meaning industry support and development opportunities were a focal point of activity for Townsville Enterprise. Activities were centred on not just supporting business recovery and survival but also delivering a range of opportunities for ongoing enhancement of the visitor experience. 2020/21 HIGHLIGHTS Tourism Futures Forum

Australian Tourism Exchange

Bookeasy Training

Townsville Enterprise hosted the annual Tourism Industry Futures Forum in March 2021 welcoming 80 attendees from the tourism, hospitality, events, and accommodation sector. The forum saw 16 speakers discuss key topics including the future of tourism, integrating eco-tourism practices into a tourism experience, leveraging digital channels for your own marketing and taking events from ordinary to extraordinary.

In June, Townsville Enterprise attended the Australian Tourism Exchange to meet with domestic and international trade partners in person and online, promoting trade-ready products from across the Townsville North Queensland region. There was an overwhelming response and interest from all trade partners and the relationships gained at this event will be critical as we move forward as a destination.

To support regional tourism operators, throughout the year Townsville Enterprise hosted a series of workshops and one on one sessions with businesses to provide support in becoming a bookable product through Bookeasy (for campaigns and the Visitor Information Centres). Training was conducted in Charters Towers, Townsville and Hinchinbrook.

The Tourism Futures Forum was extremely professional and one of the most valuable I have ever attended. - JOHN SHARPE, RIVERLIFE BRISBANE

I want to thank the Townsville City Council, the Mayor, Townsville Enterprise and the Townsville Bulletin for their support of the Lansdown Eco-Industrial Project and in particular for organising the forum that we all attended. It was very well attended from across all sectors of the Townsville community. - H ON DR STEVEN MILES, DEPUTY PREMIER, MINISTER FOR STATE DEVELOPMENT, INFRASTRUCTURE, LOCAL GOVERNMENT AND PLANNING AND MINISTER ASSISTING THE PREMIER ON OLYMPICS INFRASTRUCTURE

Image: Townsville Enterprise

Townsville Enterprise Annual Report 2020 / 21

TOWNSVILLE ENTERPRISE EVENTS Townsville Enterprise hosted 24 events, which attracted 1,751 attendees throughout the 2020/21 Financial Year. These events were an opportunity for attendees to engage within key industries, but also played a critical role in setting the agenda for Townsville Enterprise’s advocacy and policy settings. 2020/21 HIGHLIGHTS

GET CONNECTED

Unlock the North: Taking Townsville North Queensland to Parliament House Event In August 2020, Townsville Enterprise hosted a member function at Parliament House in Brisbane with over 100 attendees supporting the event. This event provided the opportunity to promote the people, projects and potential of North Queensland with Premier Annastacia Palaszczuk MP, Opposition Leader Deb Frecklington MP and a number of Ministers, Shadow Ministers and MP’s from all sides of politics.

Townsville Bulletin Business Breakfast: Unlock the North Lansdown Eco-Industrial Precinct In March 2021, over 160 local business, community, and government representatives attended the Townsville Bulletin Business Breakfast: Unlock the North Event on the Lansdown Eco-Industrial Precinct. This event provided the opportunity to hear direct project updates from proponents of the Lansdown Eco-Industrial Precinct - Edify Energy, Pacific Minerals, and Imperium3 and learn more about what could be Northern Australia’s environmentally first sustainable advanced manufacturing, processing and technology hub in Townsville.

North Queensland Mining and Resources Industry Forum The fourth annual North Queensland Mining and Resources forum had over 130 attendees in June 2021. The forum provided an important opportunity for the sector to come together to discuss the bright future for an industry contributing $3.2 billion to North and North West Queensland’s GRP, supporting 20,000 local jobs, and leading the charge in the nation’s COVID-19 economic recovery.

Townsville Enterprise events aim to maximise our members’ potential through engagement, exclusive content, access to latest opportunities and highlevel networking. By creating a platform where industry professionals can 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.

State Budget Address and State Budget Opposition Reply Events In June 2021, Townsville Enterprise was thrilled to host the Queensland Treasurer Hon Cameron Dick and the Leader of the Opposition David Crisafulli and Shadow Treasurer David Janetzki for two separate events in Townsville to understand the current funding commitments and policy positions of both the Queensland Government and Queensland Opposition with over 55 attendees at each event.

The North Queensland Mining and Resources Forum is something that everyone can walk away from having gained knowledge about what is happening in our region as well as business opportunities. - KAREN SEAL, GWG VALVES AND POLY FITTINGS

Townsville Enterprise Annual Report 2020 / 21

MEMBERSHIP The 352 members of Townsville Enterprise are the lifeblood of the organisation, and are at the heart of everything the team delivers. Following the brutal impacts of COVID-19, Townsville Enterprise offered impacted businesses waived fees or alternative payment solutions. This was made possible with thanks to Sun Metals, Glencore Copper, Incitec Pivot and Bravus Mining who stepped up during this difficult period through our Recovery and Resilience Support Program. OUR MEMBERS AS AT 30 JUNE 2021 LIFE MEMBERS Alison Ferry Emeritus Professor Edward Scott AM Geoffrey Plante Graham Jackson OAM Greg Peel John Bearne Laurence Lancini

PRINCIPAL PARTNER Townsville City Council

MAJOR PARTNER Townsville Airport Pty Ltd

PLATINUM TIER 1 News Corp Australia

PLATINUM Bravus Mining Pty Ltd Paradise Outdoor Advertising Southern Cross Austereo

GOLD Glencore Copper JCU - James Cook University Port of Townsville Limited Sun Metals Corporation Pty Ltd

SILVER Burdekin Shire Council Charters Towers Regional Council Colonial Leisure Group - The Ville ResortCasino Energy Queensland

Grant Broadcasters

St Hilliers Contracting Pty Ltd

Hinchinbrook Shire Council

TAFE Queensland

COPPER AEC Group Pty Ltd Davco Farming

Townsville Catholic Education Townsville Taxi Wilmar Sugar Australia Limited

GHD Pty Ltd

LEVEL 3

MMG Limited

BM Webb Holdings Pty Ltd

Northern Management Group

Carey Accountants Pty Ltd

Pacific Marine Group Pty Ltd

Colliers International Townsville Pty Ltd

Shamrock Civil Engineering Pty Ltd

Cowboys Leagues Club Ltd

SMEC Australia Pty Ltd

CuString Pty Ltd - CopperString 2.0

Townsville Hospital and Health Service

Delta Office Solutions

Wilson Ryan Grose Lawyers

Gleeson Properties Pty Ltd

BRONZE

Keir Steele Waldon Lawyers KPMG Australia

Australian Institute of Marine Science

Laing O’Rourke Australia

BMD Construction

Lancini Property and Development

Cubic Defence Australia Pty Ltd

North Queensland Gas Pipeline Pty Ltd

Gabrielli Constructions Pty Ltd

North Queensland Toyota Cowboys

Gallagher Insurance Brokers

Oversight Consulting

Honeycombes Property Group

PDS (QLD) Pty Ltd

Hutchinson Builders Incitec Pivot Limited

Peel Valentine Whitehead Pty Ltd (PVW Partners)

Lendlease

Queensland Rail Travel

Mater Health Services North Queensland

Simon George & Sons

Queensland Country Bank

Townsville Brewery

Ravenswood Gold Pty Ltd

Townsville Turf Club

RGM Maintenance

TP Human Capital

SeaLink Queensland Pty Ltd

Westpac Banking Corporation

Stadiums Queensland Watpac Construction Pty Ltd

LEVEL 2

Windlab Development Australia Pty Ltd

A Touch of Salt AECOM Australia Pty Ltd

LEVEL 4

Allroads Solutions Pty Ltd

CPB Contractors Pty Ltd

Alluvium Consulting

Findex

Amaroo on Mandalay

LGIAsuper

AON Risk Services

Newlands Civil Construction

Aramex (Townsville)

Townsville Enterprise Annual Report 2020 / 21

ARUP Pty Ltd

NPS Corporate

Apex Camps Magnetic Island

Base Backpackers Magnetic Island

NQ Heli-worx Pty Ltd

Aquarius on the Beach

Biodiversity Australia Pty Ltd

Nutrition Depot Australia NZ

Australian Festival Of Chamber Music

Brothers Leagues Club Townsville Ltd

O’Regan and Partners Pty Ltd

Big Mama Sailing

Cactus Jacks Restaurant

Orpheus Island Lodge

Billabong Sanctuary

Castletown Shopping World

Otto’s Fresh Food Market

Boz Oz

Cate’s Chemist

Outer Limits Adventure Fitness

Brazier Motti Holdings Pty Ltd

CBD Services

Pacific Islands International

Breakwater Marina

CES Civil NQ Pty Ltd

Park Regis Townsville Pty Limited

Bridgewater Restaurant

Charters Towers Chamber of Commerce and Mines

Paronella Park

Budd Photography

Pen To Paper Pty Limited

C Bar Holdings Pty Ltd

Charters Towers Visitor Information Centre

Campbell Scientific Australia

Clarity Hearing Solutions Pty Ltd

Peppers Blue on Blue Resort - Magnetic Island

Commonwealth Bank

Perc Tucker Regional Gallery

Community Information Centre Townsville

Pinnacles Gallery

Castaways Resort & Spa Mission Beach Pty Ltd

Connolly Suthers Lawyers

Premise

Charters Towers Tourist Park

Coral Coast Tourist Park

Queensland Museum

City Oasis Inn

Core Developments NQ Pty Ltd

Quest Townsville

Cleveland Bay Chemical Company

Coutts Redington Pty Ltd

Quest Townsville on Eyre

CRC for Developing Northern Australia Ltd

Cox Architecture

Ravenswood Restoration

EMU Sportswear

CQG Consulting

Reef and Rainforest Research Centre Limited

Epic Environmental Pty Ltd

CQUniversity Discovery Parks Pty Ltd

Reef HQ Great Barrier Reef Aquarium

Especially Australian

Ede Events

Rider Levett Bucknall Qld Pty Ltd

Extrastaff

Edify Energy Pty Ltd

Riverway Arts Centre

Flinders Shire Council

Electrotek

Rockfield Technologies Australia Pty Ltd

Frosty Mango

Fairfield Central Medical Practice

Rydges Southbank Townsville

FTEC Electrical Pty Ltd

Fuji Xerox Business Centre (Townsville)

SeaLink Travel

Get Branded

Harbourside Coldstores

Shorehouse Townsville

Gilberton Outback Retreat

Hinchinbrook Visitor Information Lounge

Skytrans

Grand Hotel and Apartments

Hotel Grand Chancellor

St Patrick’s College Townsville Limited

Great Northern Laundry

JCU Halls of Residence

Sunbus Townsville

Grey and Grey

JCU Student Association

Sunsuper

GWG Valves & Poly Fittings

JCU Vet

TEi Services Pty Ltd

Hamilton Island Limited

Knight Frank Townsville

The Digimen

Herveys Range Heritage Tea Rooms

Lamont Sign Solutions

The Park Motel

Hidden Valley Cabins and Tours

Lower Burdekin Water

Thrifty Car Rental

Hinchinbrook Resorts Lucinda

Magnetic Island Best Bus Tours

Tony Ireland Stadium

JAM

Magnetic Island Ferries

Townsville Civic Theatre

Jewellery By Design

Maidment Development Group Pty Ltd

Townsville Grammar School

JKs Deli

Mariners North Holiday Apartments

Townsville Rotary Markets

Kernow Charters Towers

Markwell Group

Townsville RSL Stadium

Kevin Gill

Marsh Advantage Insurance

TYTO Wetlands Information Centre

Kordamentha

Martin Locke Homes Pty Ltd

V8 Supercars Australia Pty Ltd

Liddles Air Service Pty Ltd

McDonald’s Parcorp Group

W. Wightman Advisory Pty Ltd

Lidiar Group

MEGT (Australia) Ltd

Wagners Holding Company Limited

Longboard Bar & Grill

Mercure Townsville

Yellow Cabs Australia Pty Ltd

Milupa Pty Ltd

Metal Manufactures Limited

Yongala Dive

Multimate Property Group

Michels Catering & Events

Yurika

Mungalla Aboriginal Corporation

Milford Planning Consultants

Campbells Coaches

EProperty Consultants NQ

Murdering Point Winery Pty Ltd

Minelec Pty Ltd

LEVEL 1

National Australia Bank

AAA+ Financial Solutions

North Queensland Tours

Nautilus Aviation

Aquascene Charters

Northern Conquest Charters Pty Ltd

NBN Co.

Absolute Cravings

Northern Realty Pty Ltd

Neighbourhood Productions

Adrenalin Snorkel and Dive

Pacific Rim Technical Services

NLW Group Pty Ltd

MEMBERSHIP LEVEL 1 Continued

Landmark Projects Pty Ltd

Pilgrim Sailing Pty Ltd

NOMINATE YOUR MATE PROGRAM MEMBERS

Rambutan

Ergon Energy Queensland Pty Ltd

Life Giving Psychology & Coaching

Raven Tours

External IT

Lotsa Print and Signage

Regional Economic Advisory

Frontier Voice & Data

Magnetic Island Night Vision Tours

Rowes Bay Beachfront Holiday Park

Gudjuda Reference Group

Magnetic Jeep Tours

RPS Australia East Pty Ltd

Magnetic Island Sea Kayaks

Mendi Constructions

Ruswin Locksmith & Security

NAC Ceilings & Partitions Pty Ltd

NEM Group Pty Ltd

Secura Lifestyle

Pandanus Catering

Oaks Gateway Suites

SLR Consulting Australia Pty Ltd

Pickerings Auto Group

Oaks Metropole

Solar Citizens

Priceline Pharmacy Fairfield Central

Oasis Lifestyle Village Pty Ltd

Texas Longhorn Tours

Pro Dive Magnetic Island

Pleasure Divers Magnetic Island

The Farm Plumeria Road

Skyreach Pty Ltd

TICS - Testing Inspection and Calibration Services

Sublime Experiences

Primary Health North Queensland (PHN Northern Queensland)

Townsville Illegal Dumping Yobos Cleanup

Rapid Global Software

Townsville Helicopters

Tropical Palms Resort & 4WD hire

Resource Co-ordination Partnership Pty Ltd

Townsville Motor Boat and Yacht Club Ltd

Tyremax Pty Ltd

RMS Engineering & Construction

Townsville Watersports

Learning Partnerships

Tec-NQ The Pier Restaurant

Trekk Advisory

RECOVERY AND RESILIENCE SUPPORT PROGRAM MEMBERS

Tropical Containers

Alliance Airlines

Tour Townsville

Wambiana Station

Ampcontrol Pty Ltd

Townsville Road Runners

Woollam Constructions

ANZ Banking Group Limited

Tropical Topless Car Rentals

Travel Associates

ARC - The Australian Reinforcing Company

Ticketmaster

ASSOCIATE

Arcadia Village Motel

RECIPROCAL

Colin Harkness

B&G Law

Growcom

Commerce North West Inc

Bakehouse On Eyre

Gulf Savannah Development

Cootharinga North Queensland

Be Limited

Dale Last MP

Bernice Hookey Consultancy

Hinchinbrook Chamber of Commerce Industry and Tourism

Drive It NQ Pty Ltd

Bluewater Caravan Park

Home Hill Chamber of Commerce

Kerry O’Brien

Bungalow Bay Koala Village

Michael Spearman

Cathedral School of St Anne & St James

Housing Industry Association North Queensland

National Trust of Australia (Qld) Ltd

Coconut Glen Van Park

NQ Dry Tropics

Detour Coaches

Professional Bull Riders Australia Pty Ltd

Donna Bionda

Queensland Resources Council

Dy-Mark (Aust) Pty Ltd

Scott Stewart MP

Elite Executive Pty Ltd

Scott Verrall

Event Cinemas

Seawright Consulting Pty Ltd

Expedia Group

selectability

Grace Worldwide Australia

Townsville Cycle Club Inc.

Hastings Printers

Townsville Toy Library Association Inc

Huddy Moore Architects

Umbrella Studio

Ingham Travel Agency Pty Ltd

Workways Australia Ltd

iSeek Pty Ltd

YWAM Medical Ships - Australia Ltd

Kristal Electronics

Townsville Enterprise Annual Report 2020 / 21

Master Builders North Queensland Mount Isa to Townsville Economic Development Zone Inc North Queensland Club RDA Townsville & North West Queensland Tourism Magnetic Island Tourism Whitsundays Townsville Business Development Centre Townsville Business Women’s Network Townsville Chamber of Commerce Townsville Region Indigenous Business Network

E V E N T, P R O G R A M & PROJEC T PA RTNER S AEC

Edify Energy

Port of Townsville

Besix Watpac

Flinders Lane

Queensland Resources Council

Bravus Mining & Resources

Gallagher

SMEC

Burdekin Shire Council

Genex Power

TAFE Queensland

Business Council of Australia

Glencore

The Ville Resort-Casino

Carey Group

Hinchinbrook Shire Council

Townsville Airport

Charters Towers Regional Council

James Cook University

Townsville Bulletin

Cleveland Bay Chemical Co.

Markwell Group

Townsville City Council

Colliers

Mater Private Hospital Townsville

Townsville Logistics

Copperstring 2.0

METs Ignited

Trade and Investment Queensland

Cubic

Minerals Council of Australia

TropiQ

Discovery Holiday Parks

North Queensland Gas Pipeline

Thank you for your additional support.

TOWNSVILLE ENTERPRISE LIMITED FINANCIAL REPORT

2020 / 2021

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Townsville Enterprise Annual Report 2020 / 21

TOWNSVILLE ENTERPRISE LIMITED FINANCIAL REPORT 2020 / 2021 DIRECTORS REPORT

Developments and expected results of operations

The Directors of Townsville Enterprise Limited present their report together with the financial statements of the entity, for the year ended 30 June 2021 and the Independent Audit Report thereon.

The financial year was overshadowed by the continuing COVID-19 pandemic that has impacted economies across the globe exponentially. Whilst Townsville North Queensland’s local economy has not been immune to the impacts of COVID-19, the region has weathered the storm well with many sectors recording strong growth and a positive outlook. The disparity between those booming and those who now face an uncertain future distorts our current and predicted economic conditions which has created a two-speed economy for our region.

Director Details The following persons were Directors of Townsville Enterprise Limited during the whole of the financial year and up to the date of this report unless otherwise stated. Kevin Gill Jenny Hill Joe Carey Ranee Crosby Kathy Danaher Jamie Fitzpatrick Sandra Harding AO Peter Honeycombe Michael Jones Moya Steele Peter Wheeler

Appointed 26/05/2008 Appointed 25/05/2012 Appointed 11/02/2011 Appointed 15/05/2014 Appointed 28/05/2019 Appointed 19/02/2020 Appointed 20/02/2013 Appointed 14/11/2013 (Resigned 9/03/21) Appointed 20/06/2018 Appointed 21/10/2015 Appointed 10/04/2021

Principal Activities The company’s principal continuing activities during the year consisted of our core role as the leading advocacy body for the North Queensland region, focusing on connecting, promoting and growing economic development and tourism opportunities. Review of Operations Comments on the operations and the results of those operations are set out below: • Operating revenue for the year ended 30 June 2021 was $11,509,882 (2020: $9,805,469) • The operating surplus/(deficit) for the year ended 30 June 2021 was $1,394,308 (2020: $381,838)

The Hells Gates Dam Business Case presents North Queensland’s long-term vision to develop Northern Australia. Hells Gates dam will see the construction of one of the largest dams in our nation’s history affording water security to support 50,000 ha of irrigated crop production which will result into high value food exports to Asia. The project is being managed by Townsville Enterprise and the Business Case is tracking on time and on budget, a significant achievement considering the size and importance of the project for Australia. Despite a difficult year, Townsville Enterprise has returned a strong financial result, due to diversification of revenue generation, which has proven important at a time when membership was challenged and providing services to the business community was critical. Townsville Enterprise wishes to acknowledge its Principal Partner Townsville City Council for their support over the past 12 months and for standing shoulder to shoulder with us during this difficult period. The organisation would also like to acknowledge the united approach of TaskForceNQ and the North Queensland Region of Councils (NQROC) in tackling the COVID economic recovery plans. The FY21 surplus was $1,394,308. Prior year surplus was $381,838.

Advocacy Advocacy is Townsville Enterprise’s key role and again our laser focus on this was demonstrated during FY21 as North Queensland dealt with the COVID-19 crisis. Parliament House delegations were held in Brisbane and Canberra to launch the ‘Unlock the North’ advocacy platform. This provided a strong and united voice to both levels of Government on the priority projects and key policy reform that would support growth and prosperity in North Queensland. Uniting with the five councils and our members on the ‘Unlock the North’ advocacy campaign proved a successful formula. The region secured almost a billion dollars’ worth of commitments across both levels of Government, with progress made on key enabling projects such as Big Rocks Weir, CopperString 2.0, DriveIt NQ, the Museum of Underwater Art, Reef HQ, and a raft of COVID-19 business and industry support measures. Tourism and Events COVID continued to impact our region in FY21. Tourism, hospitality and events sectors continued to struggle to stay afloat as border closures and lock downs remain across the country. Despite these ongoing challenges, the industry leveraged its strengths in domestic tourism and started to see some positive signs of recovery – driven by both strong intrastate and growing interstate visitation. June 2021, saw the highest hotel occupancy since the pandemic started. The growth in visitor demand was supported by a solid program of marketing activity delivered by Townsville Enterprise. Given the current environment and need to drive immediate demand for the tourism sector, marketing activity was predominately focused on driving conversion. The townsvillenorthqueensland.com.au website was upgraded and included the ability to offer packaged experiences on behalf of the operators. The creation of these holiday packages and increasing the number of bookable products was implemented and used as the key call to action for several tactical campaigns. Booking services were also introduced into the Visitor Information Centres, further enhancing distribution channels for our operators. Marketing partnerships were delivered throughout the year with airlines to drive metromarket visitation and a 12-month ‘always on’ digital marketing strategy was a key foundation to the campaign bursts conducted throughout the year.

Townsville Enterprise Annual Report 2020 / 21

Marketing campaigns were predominately delivered through digital platforms, enabling flexibility to stop, start, pause, or pivot campaigns due to the ever-changing travel restrictions and consumer sentiment. Overall Townsville Enterprise led marketing campaigns which delivered more than 12,000 new visitors to the region, contributing approximately $7.8M in visitor spend. Airline partnerships supported more than 8,000pax bookings and marketing assets were viewed more than 21.5M times. Online and visitor information bookings equated to $135,000 in value for the industry and the visitation to the website grew by over 100%. The conversion results of campaign activity were supported by a strong PR strategy which saw more than 450 destination stories featured across State, National and International publications. Townsville Enterprise acknowledges its media partners, Regional Councils, Townsville Airport and Tourism and Events Queensland for supporting all our marketing and campaign activities. These partnerships enabled Townsville Enterprise to further extend our marketing reach. COVID-19 has seen significant and ongoing changes to travel behaviour. Drive tourism has boomed. To leverage these opportunities, a marketing collaboration was formed between Townsville Enterprise and our neighbouring RTOs in Whitsundays, Mackay, Cairns and the Outback to deliver a Drive North Queensland campaign. The success of this partnership looks to continue and expand. Product and Experience Development was an area of focus during the FY21 year. Townsville Enterprise played a significant role in supporting the delivery of Phase 1 of the Museum of Underwater Art (MOUA) and continues to work with the MOUA Board on the additional phases still to be launched. Reef HQ Aquarium redevelopment and funding for walking trails on Magnetic Island were amongst the successful product development announcements made throughout the year for the tourism industry, off the back of the organisation’s strong advocacy. Townsville Enterprise continued to support the region’s events calendar in the FY21 year, providing marketing and logistical assistance to a number of events throughout the year including major events such as the State of Origin and Supercars Double header.

The destination tourism trade strategy progressed in the FY21 financial year. Townsville Enterprise had representation at the Australian Tourism Exchange, with three days of meetings held with key domestic and international wholesalers and trade partners. This event enabled re-engagement with key players and has provided the basis of our trade strategy moving forward. The pandemic has provided significant challenges throughout FY21. Townsville Enterprise has consistently been a strong voice for industry and has worked closer than ever before with all levels of Government to ensure decision makers have context and understanding of the status of the industry. Membership, Marketing and Business Development Membership has been front and centre of all activities conducted by Townsville Enterprise throughout the FY21 year. Businesses across the membership base were impacted at various levels due to the COVID pandemic. Townsville Enterprise took a personalised approach to membership engagement. Whilst Townsville Enterprise secured additional revenue streams through the FY21 year, the stability of Townsville Enterprise’s membership remains critical to our funding model and our ability to deliver such important outcomes such as QCB Stadium and Bravus Mining. Townsville Enterprise would like to acknowledge Sun Metals, Glencore Copper, Incitec Pivot and Bravus Mining who stepped up during this difficult period through our Recovery and Resilience Support Program. This enabled more than 75 businesses who were facing financial hardship to continue to receive complementary membership services for 12 months. Whilst COVID restrictions throughout the year made hosting events challenging, Townsville Enterprise delivered a strong calendar of business events including Townsville Bulletin Business Breakfast: Lansdown Eco-Industrial Precinct, Townsville North Queensland Tourism Futures Forum, North Queensland Mining and Resources Industry Forum and the State Budget and Opposition Reply Events. Across the year the organisation held 24 events which saw 1751 attendees across our events program and used our signature industry forums to help formulate the organisation’s advocacy.

Hells Gates Dam Business Case Townsville Enterprise continued to deliver the $24M Big Rocks Weir and Hells Gates Dam Business Case during FY21. The Big Rocks Weir Business Case was submitted to the Federal and State Government in August 2020. It identified that the project would deliver significant economic benefits for the region. It also found that the extra agricultural production activity will be ongoing. This is a project which will not only guarantee water supply for the Charters Towers region but will unlock at least 3,000 ha of new irrigated agriculture. Within six weeks of submitting the Business Case, the full $60M required to deliver the project was committed by the State and Federal Government. A project nearly 50 years in the making, Townsville Enterprise is proud to have played a part in finally delivering the funding required to progress this project in North Queensland. The Hells Gates Dam Business Case is on time and on budget with the delivery of Milestone 5 and Milestone 6 to both the Federal and State Government occurring this year. Milestone 5 works included the establishment of a camp site at Hells Gates which enabled Cultural Heritage inspections and monitoring, Geotech drilling and Environmental Impact Statement (EIS) surveyors to access the site and complete investigative works to inform the statistics and information for the Business Case. Milestone 6 included the completion of the Geotech drilling, progression of EIS field works and Cultural Heritage investigations. The Milestone 6 delivery included the submission of the Hells Gates Pumped Storage Feasibility report which has demonstrated a strong financial ratio that would also meet green, sustainable and reliable energy requirements for the State Government. A proposal to develop the Hells Gates Pumped Storage Business Case was issued to the Deputy Prime Minister and the Minister for Energy and Emissions Reduction. Overall, whilst it was a difficult year, it wasn’t one without achievements and a testament to a business community working with our Principal Partner Townsville City Council and all levels of Government to secure much needed outcomes and, inevitably, protect and grow jobs for the people in the North.

DIRECTORS KJ Gill B Com, CA, GAICD Chairman 9 years 3 months Director 13 years 1 month Member – CopperString Reference Group Special Responsibilities Member – Finance Audit and Risk Committee

JL Hill BSc MPHTM, MAICD Deputy Chairman 9 years 1 month Mayor – Townsville City Council Member – Australian Institute of Company Directors Member – Australian Local Government Women’s Association Board Member and Policy Executive Committee Member – Local Government Association of Queensland Member – North Queensland Regional Organisation of Councils Deputy Chair – Regional Queensland Council of Mayors Director – Smart Precinct NQ Limited Chairman – TCC/Townsville Entertainment & Convention Centre Joint Venture Board Chairman – Townsville Local Disaster Management Group

JW Carey B. Com, CPA, Dip FP Director 10 years 4 months Director – Bohle Developments Pty Ltd Director – Carey Accountants Pty Ltd Director – Carey Financial Pty Ltd Director/Chairman – Carey Group of Companies Director – Carey Holdings (QLD) Pty Ltd Director – Carey Property Group No 2 Pty Ltd Director – Carey Property Group Pty Ltd Director – Carey Thomson Consulting Pty Ltd Director – Carsenish Nominees Pty Ltd Director/Secretary – CGP Holdings Pty Ltd Director/Secretary – CitiLink Precinct 1 Pty Ltd Director/Secretary – CitiLink Precinct 2 Pty Ltd Director/Secretary – Coorparoo Debenture Pty Ltd Director/Deputy Chairman – Cowboys Leagues Club Limited Chairman – Cowboys Leagues Club Finance Audit & Risk Committee Director/Deputy Chairman – Cowboys Rugby League Football Club Limited Director – Dexat Holdings Pty Ltd

Townsville Enterprise Annual Report 2020 / 21

Director – Endure Wealth 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 – Big Rocks Weir | Hells Gates Dam Project Leadership Group Director – Hells Gates Dam Irrigation Scheme Pty Ltd

RL Crosby LLB, GAICD Director 7 years 1 month Member – Minister’s Advisory Council on Defence Industry and Jobs Chair – North Queensland Defence Advisory Board Chief Executive Officer – Port of Townsville Limited Member – Queensland Ministerial Freight Council Chair – Queensland Ports Association Member – Townsville Industrial Development Board Special Responsibilities Chair – Economic Development Strategic Advisory Committee

KT Danaher B.Sci (Hons. Marine Biology), B.Bus (Accounting), Certified Practicing Accountant – CPA Director 2 years 1 month Vice Chairwoman/Director/Company Secretary/Public Officer – Ark Energy Corporation Director – Ark Energy H2 Pty Ltd Director/Company Secretary/Public Officer – Ark Energy MacIntyre Pty Ltd Member – Australian Electricity Energy Commission (AEMC) Reliability Panel Director/Company Secretary – Glue Factory Investments Pty Ltd ATF The Glue Factory Super Fund Director/Company Secretary – Sun Metals Corporation Pty Ltd Director/Company Secretary – Sun Metals Holdings Director – Townsville Logistics Pty Ltd Director – Townsville Marine Logistics Pty Ltd Special Responsibilities Chairman – Finance Audit & Risk Committee

J Fitzpatrick

MD Jones

GAICD Director 1 year 6 months Director/Secretary – Espyard Pty Ltd Director/Secretary – FG Hospitality Pty Ltd Director/Secretary – Fitzpatrick Strand Property Pty Ltd Director/Secretary – JFNF Pty Ltd Director/Secretary – Kelaidan Pty Ltd Director/Secretary – Rockpool Hospitality Pty Ltd Director/Secretary – Rockpool Property Holdings Pty Ltd Director/Secretary – Strand Property Holdings Pty Ltd Director/Secretary – Strand Stays Pty Ltd Director/Secretary – Wahoo Hospitality Pty Ltd

Director 3 years 1 month Chair – AFL Queensland – Townsville Advisory Board Director – Breakwater Island Limited Director – Centralian Car Wash Pty Director – Centralian Property Pty Ltd Sole Director/Secretary – Jonesy Pty Ltd, Acting for the Jones Family Trust Director – Ronald McDonald House Charity – North Australia Charter

SL Harding AO, BSc (Hons) ANU, MPub.Admin UQ, PhD NCSU, Hon Doc JIU, FACE, FQA, GAICD Director 8 years 4 months Director – Advance Cairns Council Member – Australian Institute of Marine Science Director – Citizens of the Great Barrier Reef Director – Cowboys Rugby League Football Club Limited Director – Education Australia Limited Deputy Chair – Foundation of Australian Literary Studies Vice-Chancellor and President – James Cook University Chair – Queensland Vice Chancellor’s Committee

PE Honeycombe

Special Responsibilities Chairman – Tourism and Events Strategic Advisory Committee

MA Steele BA.LLB, MUDIA, MAICD Director 5 years 8 months Director/Principal – Keir Steele Waldon Lawyers Pty Ltd Director – KSW Legal Group Pty Ltd Director – MA Steele Pty Ltd Director – MAASK Investments Pty Ltd Special Responsibilities

Member – Big Rocks Weir | Hells Gates Dam Project Leadership Group P Wheeler Director 2 months Managing Director – Colliers Townsville

B.Bus, FAICD, FAIM Director 7 years 4 months (Resigned 9/03/2021) Director – CH Central Group of Companies Director – College of the Nations Limited Director – Honeycombes Property Group of Companies Director – Horizon Funds Managers Pty Ltd Director – The Waterfront Precinct Pty Ltd Director – Townsville Marine Tourism Precinct Pty Ltd Director – HD South Yards Pty Ltd Special Responsibilities Member – Big Rocks Weir | Hells Gates Dam Project Leadership Group

Meeting 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 2021, 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

Environmental Regulations No significant environmental regulations apply to the Company.

Kevin Gill

Jenny Hill

Auditor’s Independence Declaration

Joe Carey

Ranee Crosby

Kathy Danaher

A copy of the auditor’s independence declaration as required under section 307C of the Corporations Act 2001 is set out on the following page.

Jamie Fitzpatrick

Sandra Harding

Peter Honeycombe

Michael Jones

Moya Steele

Peter Wheeler

A = Number of meetings attended.

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. On behalf of the directors

Kevin Gill | Director Townsville, 10 September 2021

B = Number 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.

Auditors 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 for Townsville Enterprise Limited, I declare that, to the best of my knowledge and belief, during the year ended 30 June 2021, there have been: 1. No contraventions of the auditor independence requirements as set out in the Corporations Act 2001 in relation to the audit; and 2. No contraventions of any applicable code of professional conduct in relation to the audit.

Crowe Audit Australia

Tracey Mayhew | Associate Partner Townsville, 16 / 09 / 2021.

Townsville Enterprise Annual Report 2020 / 21

STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME FOR THE YEAR ENDED 30 JUNE 2021 Note

2021

2020

10,977,568

9,391,020

REVENUE AND OTHER INCOME Revenue

Other income

Total revenue and other income

532,314

414,449

11,509,882

9,805,469

(1,718,491)

(2,005,254)

(8,124,981)

(7,096,227)

(68,120)

(138,055)

EXPENSES Employee benefits expense Other Expenses

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

(3,651)

(8,923)

(145,905)

(111,012)

(54,425)

(64,160)

(10,115,574)

(9,423,631)

1,394,308

381,838

1,394,308

381,838

2021

2020

This statement should be read in conjunction with the notes to the financial statements

STATEMENT OF FINANCIAL POSITION AS AT 30 JUNE 2021 Note ASSETS Current Cash and cash equivalents

2,003,248

877,977

Trade and other receivables

4,125,382

4,745,421

Other assets Current assets

23,013

47,923

6,151,644

5,671,321

65,664

73,692

Non-current Property, plant and equipment

Intangibles

Non-current assets Total assets

19,173

34,321

84,837

108,013

6,236,480

5,779,334

67,096

765,649

(24,859)

374,431

LIABILITIES Current Trade and other payables

GST/PAYG payable Employee benefits

118,274

105,664

Other liabilities

3,245,711

3,091,664

3,406,222

4,337,408

Current liabilities Non-current Employee benefits

49,188

55,165

49,188

55,165

Total liabilities

3,455,410

4,392,573

Net assets

2,781,069

1,386,761

Non-current liabilities

<< STATEMENT OF FINANCIAL POSITION AS AT 30 JUNE 2021 (CONTINUED) Note

2021

2020

510,725

EQUITY Reserves Retained surplus

2,270,344

876,036

Total equity

2,781,069

1,386,761

Reserves

Retained Surplus

Total Equity

$ 1,004,923

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 2021

Balance at 1 July 2019

510,725

494,198

Transfers to/from reserves

Surplus/(deficit) for the year attributable to members

381,838

Balance at 30 June 2020

510,725

876,036

1,386,761

Balance at 1 July 2020

1,386,761

510,725

876,036

Transfers to/from reserves

Surplus/(deficit) for the year attributable to members

1,394,308

510,725

2,270,344

2,781,069

2021

2020

10,868,424

4,830,818

Balance at 30 June 2021 This statement should be read in conjunction with the notes to the financial statements

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 JUNE 2021 Note Operating activities Receipts from members and customers Receipt of grants

836,733

755,076

(10,552,096)

(5,509,601)

3,458

8,777

1,156,519

85,070

(31,248)

(31,561)

(31,248)

(31,561)

Net proceeds/repayments from finance lease

Net cash from / (used in) financing activities

Payments to Suppliers and employees Interest income Net cash provided by operating activities Investing activities Purchase of property, plant and equipment Payments for intangible assets Net cash provided by / (used in) investing activities Financing activities

Net change in cash and cash equivalents Cash and cash equivalents, beginning of year Cash and cash equivalents, end of year

This statement should be read in conjunction with the notes to the financial statements.

Townsville Enterprise Annual Report 2020 / 21

1,125,271

53,509

877,977

824,468

2,003,248

877,977

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. Any new, revised or amended accounting standards or interpretations that are not yet mandatory have not been early adopted.

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 1060 General Purpose Financial Statements – Simplified Disclosures for For-Profit and Not-for-Profit Tier 2 Entities, effective 1 July 2021. AASB 1060 replaces the Reduced Disclosure Requirements (RDR) framework with the Simplified Disclosures Standard (SDS). SDS aims to reduce the reporting burden of those preparing GPFS (Tier 2) reports by requiring disclosures based on those in the IASB’s IFRS for SMEs standard. When this standard is first adopted for the year ending 30 June 2022, it is anticipated that there will be no material impact on the transactions, balances and disclosures recognised in the financial statements.

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.

1.4 Revenue Revenue is recognised at an amount that reflects the consideration to which the company is expected to be entitled in exchange for transferring goods or services to a customer. 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 profit or loss when the company satisfies the performance obligations stated within the funding agreements. If conditions are attached to the grant which must be satisfied before the company is eligible to retain the contribution, the grant will be recognised in the statement of financial position as a liability until those conditions are satisfied. 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 The Company is exempt from income tax under Division 50 of the Income Tax Assessment Act 1997.

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. 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.

NOTES TO THE FINANCIAL STATEMENTS 1.7 Cash and cash equivalents

1.10 Intangible assets

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.

Intangible assets are initially recognised at cost. The gains or losses recognised in profit or loss arising from the derecognition 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.

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

10-50% 5-20% 20-25%

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.

Townsville Enterprise Annual Report 2020 / 21

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 employees’ services up to the reporting date and are measured at the amounts expected to be paid when the liabilities are settled. 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 7 years of service with the company.

1.13 G oods and Services Tax (GST) and other similar taxes

NOTE 3. OTHER EXPENSES

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.

2021

6,746,997

5,331,645

246,413

255,872

3,427

8,567

Facility expenses Web development and maintenance expenses Design printing and reproduction Trade and exhibition Vehicle expenses

2020

Campaign & Event Income

112,032

119,984

Partnership Income

896,392

1,014,000

Membership Income

767,840

793,212

Contra Membership

298,856

356,071

Government Grants

836,733

755,076

7,942

Employee related expenses

50,844

47,651

Entertainment expenses

17,743

4,557

Information technology expenses

82,502

97,370

1,167

29,337

8,124,981

7,096,227

Other expenses

NOTE 4. CASH AND CASH EQUIVALENTS Cash and cash equivalents consist of the following: 2021

2020

Cash at bank and on hand

721,219

280,407

75,382

109,677 6,243,000

Term Deposit – QCB

397,386

394,065

9,391,020

Cash at bank – Hells Gates*

889,410

211,074

Total Cash and cash equivalents

Other income

Marketing packages

212,406 858,800

Credit Cards – Balance Owed

(4,768)

(7,569)

2,003,248

877,977

3,458

8,777

9,282

in nature in line with the Grant Deed of the project.

1,748

3,900

49,847

126,931

JobKeeper – ATO Reimbursement

342,450

189,000

Other Income

134,812

76,559

Project income

91,863

7,990,334 10,977,568

Rent

51,357 176,223

4,025

Revenue

Interest

30,965 104,132

729,852

Advertising expenses

2021

Project Management Income

$ 14,500

Sponsorship and membership expenses

NOTE 2. REVENUE

Sponsorship Income

$ 15,053

Audit and accounting expenses Consultants and contractors

2020

532,314

414,449

11,509,882

9,805,469

The cash reflects the Hells Gates cash which is restricted

NOTES TO THE FINANCIAL STATEMENTS NOTE 5. TRADE AND OTHER RECEIVABLES 2021

2020

Reconciliations of the written down value at the beginning and end of the current financial year is set out below Software

Total

34,322

Current Trade receivables

332,049

4,444,113

Contract Asset

3,793,334

301,308

Total current trade and other receivables

4,125,382

4,745,421

NOTE 6. PROPERTY, PLANT AND EQUIPMENT Leasehold Improvements

Motor Plant and Vehicles Equipment

Total

Assets at cost

245,486

69,508

181,321

496,315

Accumulated Depreciation

(230,339)

Balance 30 June 2020

58,545

73,692

Assets at cost

69,508

212,569

282,077

Accumulated Depreciation

Balance 30 June 2021

(69,508) (146,906) (216,414) -

65,663

Reconciliation of the written down value at the beginning and of the current financial year is set out below Motor Plant and Vehicles Equipment

15,147

58,545

73,692

31,248

Cost of assets disposed

245,486

Accumulated depreciation written back

(245,486)

- (245,486)

Depreciation

(15,147)

Balance 30 June 2021

(24,130)

65,663

(39,277) 65,663

Details of Townsville Enterprise’s intangible assets and their carrying amount are as follows: Total

75,743

(41,422)

Balance 30 June 2020

34,321

Assets at Cost

75,743

(56,570)

19,173

Accumulated Amortisation Balance 30 June 2021

(15,149)

Balance 30 June 2021

19,173

NOTE 8. TRADE AND OTHER PAYABLES Trade and other payables recognised consist of the following amounts:

Townsville Enterprise Annual Report 2020 / 21

2021

2020

62,442

686,299

Current Trade payables Other creditors and accruals Total current trade and other payables

4,654

79,350

67,096

765,649

NOTE 9. EMPLOYEE BENEFITS

2021

2020

72,192

67,126

Current Annual leave Long service leave Total current employee benefits

46,083

38,538

118,274

105,664

Non-current Long service leave

49,188

55,165

Total non-current employee benefits

49,188

55,165

167,462

160,829

NOTE 10. OTHER LIABILITIES

Software

Accumulated Amortisation

(15,149)

Total current and non-current employee benefits

NOTE 7. INTANGIBLES

Assets at Cost

Amortisation expense

Total

Balance 1 July 2020

Accumulated amortisation written back

The liabilities recognised for employee benefits consist of the following amounts:

$ Additions

Cost of assets disposed

(69,508) (122,776) (422,623)

15,147

Leasehold Improvements

Balance 1 July 2020

Other liabilities consist of the following amounts:

Accrued Expenses Contract Liability Total other liabilities

2021

2020

3,048,826

2,473,473

196,885

618,191

3,245,711

3,091,664

NOTE 11. RELATED PARTY TRANSACTIONS

NOTE 13. LEASE COMMITMENTS

Townsville Enterprise Limited’s related parties include its key management personnel and related entities as described below.

Operating leases as lessee Townsville Enterprise Limited operating lease payments are as follows:

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.

11.2 Transactions with key management personnel

Key Management personnel compensation

2021

2020

695,737

677,149

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 2020/21 include Patricia O’Callaghan (Chief Executive Officer, ceased 23/12/2020), Claudia Brumme-Smith (CEO commenced 10/5/2021), Wayde Chiesa (Director Policy and Investment), Lisa Woolfe (Director Visitor Economy and Marketing), Kirsty Kahler (Director Membership Events and Business Development, ceased 11/06/2021) and Vilton Crasto (Director Corporate Services, ceased 11/11/2020).

Within 1 year

1 to 5 years

Total

30 June 2021

4,526

18,106

22,632

30 June 2020

4,526

18,106

22,632

Townsville Enterprise Limited has engaged with external consultants in conjunction with the Hells Gates Dam Business Case. Contractual arrangements are in place with external consultants which is tied to the continued receipt of external funding for the same purpose.

NOTE 14. POST-REPORTING DATE EVENTS No matters or circumstances have arisen since 30 June 2021 that has significantly affected, or may significantly affect, the company’s operations, the results of those operations, or the company’s state of affairs in future financial years.

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.

NOTE 12. CONTINGENCIES There are no contingent liabilities incurred by Townsville Enterprise Limited at 30 June 2020 and 30 June 2021.

DIRECTORS’ DECLARATION

Basis for Opinion

In the opinion of the Directors of Townsville Enterprise Limited:

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 auditor independence requirements of the Corporations Act 2001 and 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.

a) The 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 2021 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) There 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

We confirm that the independence declaration required by the Corporations Act 2001, which has been given to the directors of the Company, would be in the same terms if given to the directors as at the time of this auditor’s report. 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

Opinion

The directors of the Company are responsible for the preparation of the financial report and have determined that the basis of preparation described in Note 1 to the financial report is appropriate to meet the needs of the members 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 gives a true and fair view and is free from material misstatement, whether due to fraud or error.

We have audited the financial report of Townsville Enterprise Limited (the Company), which comprises the statement of financial position as at 30 June 2021, the statement of comprehensive income, the statement of changes in equity and the statement of cash flows for the year then ended, and notes to the financial statements, including a summary of significant accounting policies, and the directors’ declaration.

In preparing the financial report, the directors are responsible for assessing the ability of the Company to continue as a going concern, disclosing, as applicable, matters related 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.

Kevin Gill | Director Townsville, 10 September 2021

INDEPENDENT AUDITOR’S REPORT

To the Members of Townsville Enterprise Limited

In our opinion, the accompanying financial report of the Company is in accordance with the Corporations Act 2001, including: a) giving a true and fair view of the Company’s financial position as at 30 June 2021 and of its financial performance for the year then ended; and b) complying with Australian Accounting Standards – Reduced Disclosure Requirements to the extent described in Note 1 and the Corporations Regulations 2001.

Townsville Enterprise Annual Report 2020 / 21

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: • Identify 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. • Obtain 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. • Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by those charged with governance.

• Conclude 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. • Evaluate 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 Audit Australia

Tracey Mayhew | Associate Partner Townsville, 16 / 09 / 2021.

TOWNSVILLE ENTERPRISE ABN: 58 053 020 536 380 Flinders Street PO Box 1043 Townsville Queensland, 4810 Australia Phone: +61 7 4726 2728 Email: tel@tel.com.au townsvilleenterprise.com.au

Townsville Enterprise Annual Report 2020 / 21