Motorcycle <strong>Grand</strong> <strong>Prix</strong>The 2012 AirAsia <strong>Australian</strong> Motorcycle <strong>Grand</strong> <strong>Prix</strong> was held on 26 - 28 October 2012.The event enjoyed its strongest growth in sales across VIP hospitality, grandstand andgeneral admission categories, all of which contributed to a 44 percent increase in totalrevenue as well as a 29 percent increase in estimated attendance.Expenditure increased by 21 percent mainly due to an increase in scope of the eventdue to increased attendance and an increase in contractual commitments.As a consequence of the increase in revenues and the control of costs in line withbudget projections, the actual government investment for the 2012 AirAsia <strong>Australian</strong>Motorcycle <strong>Grand</strong> <strong>Prix</strong> of $5.947 million was less than that of the prior year.Motorcycle <strong>Grand</strong> <strong>Prix</strong>- Result by EventFutureEvents$’0002012Event$’0002011Event$’0002010Event$’0002009Event$’000Sales Revenue - 9,947 7,012 6,172 7,276Total Revenue - 12,601 8,782 7,583 8,656Total Expenditure - (18,548) (15,368) (14,204) (13,926)Operating Result beforeGovernment Investment &Depreciation- (5,947) (6,586) (6,621) (5,270)Government Investment 5,241 5,947 6,586 6,621 5,270Motorcycle <strong>Grand</strong> <strong>Prix</strong>- Result by Financial Year2012/13$’0002011/12$’0002010/11$’0002009/10$’0002008/09$’000Sales Revenue 9,947 7,012 6,172 7,276 7,488Total Revenue 12,601 8,782 7,583 8,656 8,823Total Expenditure (18,548) (15,368) (14,204) (13,926) (12,568)Operating Result beforeGovernment Investment &Depreciation(5,947) (6,586) (6,621) (5,270) (3,745)Government Investment 7,817 8,277 5,105 6,758 5,623Phillip Island Homologation WorksIn addition to the motorcycle event funding noted above the Corporation has receivedfunding of $0.500 million to upgrade the facilities at Phillip Island to ensure that the circuitcomplies with the safety requirements for future MotoGP events.<strong>Australian</strong> <strong>Grand</strong> <strong>Prix</strong> Corporation Annual Report <strong>2013</strong> 19 19
. Consultancy ServicesDetails of consultancies over $10,000ConsultantPurpose ofconsultancyTotalapprovedprojectfee(exc. GST)Expenditure2011-12(exc. GST)Futureexpenditure(exc. GST)KPMGMillsOakleyForeign exchangeadviceEmploymentadvice$34,090 $34,090 -$14,264 $14,264 -NewsTicketing Ticketing services $25,000 $25,000 -Details of consultancies under $10,000In 2012-13, the total for the consultant engaged during the year, where the total feespayable to the consultant was less than $10,000, was $1,160.c. Members’ MeetingsThe number of Members’ meetings and the number of meetings attended by each ofthe Members of the Corporation during the financial year are:No. ofMeetingsattendedNo. ofMeetingsHeldMr Ronald J Walker AC CBE 6 6Mr John Harnden AM 6 6Ms Laura Anderson 6 6Mr William Bowness 6 6Mr Patrick Flannigan 6 6Ms Gillian Franklin 6 6Mr Alan Oxley 6 6Mr Ken Ryan AM 4 6Mr James Strong AO – resigned 27 November 2012 1 2d. Building Act 1993In accordance with Section 48(1) of the <strong>Australian</strong> <strong>Grand</strong>s <strong>Prix</strong> Act 1994, nothing in theBuilding Act 1993 applies to the carrying out of works authorised by and in accordancewith the <strong>Australian</strong> <strong>Grand</strong>s <strong>Prix</strong> Act 1994 or at the request of the Corporation in thedeclared area.The Corporation has however undertaken to comply with the specifications of theBuilding Act 1993 wherever practicable.<strong>Australian</strong> <strong>Grand</strong> <strong>Prix</strong> Corporation Annual Report <strong>2013</strong>20 20