2013 AnnuAl RepoRt - Australian Grand Prix

Notes to and Forming Part of the Financial Statementsfor the Financial Year Ended 30 June 20132013$’000’s2012$’000’sCurrent employee benefitsAnnual Leave entitlements 423 400Long Service Leave entitlements 143 121566 521Non-current employee benefitsLong Service Leave entitlements 95 65Total employee benefits 661 586Current on-costs 90 83Non-current on-costs 15 10Total on-costs 105 93Total employee benefits and related on-costs 766 679(b) Movement in provisionsEmployeebenefits2013$’000’sOn-costs2013$’000’sTotal2013$’000’sOpening balance 586 93 679Additional provisions made 75 12 87Closing balance 661 105 766Current 566 90 656Non-current 95 15 110661 105 76613. Deferred IncomeAdvance commercial income 588 106Advance ticket sales 2,734 4,4243,322 4,53014. DerivativesCurrent foreign exchange forward contracts (5,695) (7,101)Non-current foreign exchange forward contracts (4,944) (14,303)Non-current foreign exchange options contracts 861 1,025(9,778) (20,379)Foreign exchange contracts were entered into at the request of the Victorian Government’sDepartment of Treasury and Finance and held with Treasury Corporation of Victoria.5252Australian Grand Prix Corporation Annual Report 2013